Xmet Inc. (
TSX: V.XME,
Stock Forum) plunged 50% to 1 cent in active trading Monday after the company released an update on three mineral exploration projects in Quebec.
The update covers the Win-Win, Blackflake West and Grasset projects,
the company said in a press release right at the close of trading, Friday. For example at Blackflake, the company said a drill campaign confirmed the existence of an extensive volcanogenic massive sulphide system with wide zones of mineralized rock.
Noront Resources Ltd. (
TSX: V.NOT,
Stock Forum) jumped 9% to 48 cents after the company said it has received a notice of approval from the Ontario Environment Ministry on the terms of reference for its Eagle’s Nest nickel-copper-platinum-palladium project.
The terms of reference, approved with a number of amendments, allows the company to move forward on the environmental assessment process for what is expected to be the first mine in northern Ontario’s Ring of Fire region,
the company said in a press release.
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