Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, October 20, 2009
TORONTO (SHfn) – A tiny gold play glistered Tuesday, while moly and copper were also on the plates of some speculators.
Northrock Resources (TSX: V.NRK, Stock Forum) shares soared 126% to 17 cents on Tuesday after the micro cap explorer reported assay results from its 2009 drill program at the Main Gold Zone of its 100% owned Turner Lake Project in Nunavut, which included 13.21 grams per tonne (g/t) gold over 13.0 metres.
As well, shares of Velocity Minerals (TSX: T.VLC, Stock Forum) finished even at 25 cents after trading as high as 30.5 cents on the day the junior miner announced analytical results from recent surface sampling of the Cassiar Moly molybdenum property in British Columbia, which included 0.648% moly over 10.5 metres.
Aastra Technologies (TSX: T.AAH , Stock Forum), meanwhile, reported third-quarter net income of $9.6 million, or 71 cents a share, compared with $2.6 million, or 17 cents a share, during the same period last year. The company’s Board of Directors has also declared a quarterly cash dividend of 15 cents per share on its common shares payable on November 24, 2009, to shareholders of record at the close of business on November 3, 2009. Aastra stock popped 18% to $28.23.
Shares of Puma Exploration (TSX: V.PUM, Stock Forum) climbed 16% to 14 cents as the junior explorer said it has encountered a major intersection more than 60 metres in length, including 1.5% copper over 63 metres and 1% copper over 97 metres on its Turgeon, New Brunswick deposit.
And, Probe Mines (TSX: V.PRB, Stock Forum) Tuesday announced that the Phase II diamond drilling on the Probe-Noront Resources Joint Venture Project's Black Creek chromite discovery in the McFauld's Lake area of the James Bay Lowlands has been completed. The program consisted of 11 drill holes totaling over 1,700 metres and was successful in extending the strike length of the massive chromite horizon to 200 metres. The zone still remains open in all directions. The chromite horizon was intersected in all 11 holes drilled and ranges from 63.6 metres wide to 15 metres wide, with an average of almost 40 metres in all holes drilled to date (not true width). Its shares added 3.45% at 30 cents.
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