Junior miner surges on gold intersections

Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, April 7, 2009

TORONTO (SHfn) – Nevada gold assays generated some speculator interest Tuesday, while a security stock moved higher on a contract extension.
Victoria Gold (TSX: V.VIT, Stock Forum) shares jumped 16% to 37 cents on Tuesday after the micro cap explorer reported the latest assay results from the Helen Zone at its Cove Project in Nevada, which included an intersection of 16.75 grams per tonne (g/t) of gold over 29.6 metres.

As well, shares of Temex Resources (TSX: V.TME , Stock Forum) shot up 42% to 17 cents as the junior explorer said it has discovered a new gold trend on its Latchford Gold Project in northeastern Ontario. Random grab samples taken from Archean outcrops returned values up to 15.36 g/t gold and 31.03 g/t gold and samples taken from a series of rusty fractures cutting Proterozoic basal sediments interpreted to be very near the unconformity with unexposed Archean basement rock returned values ranging from 0.10 g/t to 5.52 g/t gold and 11.97 g/t gold.

Garda Security Group (TSX: T.GW , Stock Forum), meanwhile, announced that it has successfully negotiated a two-year extension with the Canadian Air Transport Security Authority (CATSA) in regards to all of Garda's existing contracts for passenger and baggage security screening operations at 26 airports in Canada. The contracts extension is for a two-year period from April 1, 2009, until March 31, 2011. The value of the contracts totals more than $300 million for that period. Garda stock popped 13% to $1.93.

And, Pennant Energy (TSX: V.PEN, Stock Forum) Tuesday announced that installation of lease facilities and gas gathering line for production from the well Badger 100/02-17-016-18W4/0 was completed this past winter has been producing approximately 160 BOEPD in total, or 40 BOEPD net to the company. Pennant holds a 25% working interest in the well. Its shares added 5% at 23 cents.