This as a micro cap gold stock moved up on drill results Monday
Stockhouse Canadian Small and Micro-cap Stock Report for Monday, January 21, 2013
TORONTO (SHfn) – Great Western Minerals Group (TSX: V.GWG, Stock Forum)shares climbed 24% to 36 cents on volume of more than 1.2 million shares Monday after the resource developer announced an updated National Instrument 43-101 resource estimate and technical report for its Steenkampskraal rare earth property in South Africa. The new resource estimate shows 32,000 metric tonnes of total rare earth oxides plus yttrium oxide (TREO) under the Indicated category and 42,100 metric tonnes of TREO under the Inferred category, each using a 1% TREO cut-off grade. This represents a 114% increase in the Indicated resource and a 218% increase in the Inferred resource from the last estimate in May 2012.
As well, shares of Metanor Resources (TSX: V.MTO, Stock Forum) added 5% at 21 cents as the micro cap explorer reported results from the current drilling program at its Bachelor project in Quebec, which included 14.79 grams per tonne (g/t) gold over 14.02 metres.
Sunridge Gold (TSX: V.SGC, Stock Forum) shares, meanwhile, slid 19% to 23 cents following media reports that dissident Eritrean soldiers with tanks took over the information ministry and forced state media to call for political prisoners to be freed. Sunridge is developing its Asmara base and precious metal project in Eritrea.
And, Karmin Exploration (TSX: V.KAR, Stock Forum) late Friday said it has exercised its option to acquire 100% of the right, title and beneficial interest forming a portion of the Cushuro Property in the Huamachuco Gold-Mining District in the Republic of Peru. Karmin shares rose 13% to 26 cents on Monday.