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Canadian small/micro-cap weekend roundup

Stockhouse Editorial
0 Comments| December 5, 2009

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On Monday, American Creek Resources (TSX: V.AMK, Stock Forum) shares climbed 29% to 22 cents on Monday after the micro cap miner and Teuton Resources (TSX: V.TUO, Stock Forum) reported the first batch of assay results comprising 14 of 32 holes from the 2009 drill program conducted at the Treaty Creek Project in British Columbia, which included gold intersections as high as 5.44 grams per tonne (g/t) over 14.5 metres and silver intersections as high as 2,280.00 g/t over 0.50 metres. Teuton shares added 3% at 20.5 cents.

Aquila Resources (TSX: T.AQA, Stock Forum), meanwhile, reported gold and silver assay results from the recently implemented drilling program at the Back Forty Project in Michigan's Upper Peninsula, which included 20.2 meters of 11.5 g/t gold and 119.7 g/t silver. Aquila stock popped 54% to 37 cents.

In Tuesday trading, Ecometals (TSX: V.EC, Stock Forum) shares powered 30% higher to 96 cents on Tuesday after the micro cap explorer said it has all the approvals to enable diamond drilling at its Rio Zarza Gold Project in Ecuador. The company has ordered mobilization of the diamond drilling contractor and expects drilling to start by mid December. Drill targets will test anomalous geophysical and geochemistry results, host lithologies and structural scenario analogous to Kinross' neighbouring Fruta del Norte gold deposit.

As well, shares of Medallion Resources (TSX: V.MDL, Stock Forum) shot up 39% to 23 cents as it and Rare Element Resources (TSX: V.RES, Stock Forum) announced that they have signed a letter of intent whereby Rare Element will grant to Medallion an option to earn a 65% interest in a joint venture to explore the Eden Lake rare-earth-element property in Manitoba.

Wednesday’s market action saw shares of Strongbow Exploration (TSX: V.SBW, Stock Forum) jumped 37% to 13 cents on Wednesday after the micro cap miner announced results from a recent exploration program on its wholly-owned Shovelnose gold property in British Columbia, which included a 2.9 metre interval that returned 66.9 grams per tonne (g/t) gold and 75 g/t silver.

Aurcana (TSX: V.AUN, Stock Forum), meanwhile, reported third-quarter consolidated net sales of $5.2 million, a profit from operations including corporate expenses of $0.4 million, and an overall profit of $2.3 million after the effects of a foreign exchange gain of $1.9 million. Aurcana stock popped 28% to 32.5 cents.

On Thursday, Eurasian Minerals (TSX: V.EMX, Stock Forum) shares surged 19% to $2.50 on Thursday after the micro cap explorer reported initial drill results from its Grand Bois property in Haiti, which included 28.4 meters averaging 20.45 grams per tonne (g/t) gold.

Also, shares of Pele Mountain Resources (TSX: V.GEM, Stock Forum) moved up 20% to 21 cents as the junior explorer announced that Coventry Resources has reported further exploration progress at Pele's Ardeen Gold Project in northern Ontario. Coventry is earning into the project pursuant to its option agreement with Pele and is the project operator during the option period. Results included 11.6 metres of 27.0 g/t gold and 41.1 g/t silver.

And, in Friday trading, shares of Peregrine Diamonds (TSX: T.PGD, Stock Forum) sank 19% to $1.63 after the junior miner reported that the microdiamond results for the last four kimberlites, CH-13 through CH-16, discovered in 2009 on the 980,000 hectare Chidliak Project on Baffin Island, Nunavut, have now been received and three of the four kimberlites were found to be diamondiferous. In addition, processing to recover commercial-sized diamonds from the 50 tonne mini-bulk sample collected from the CH-1 kimberlite has begun.

Finally, TSO3 Inc. (TSX: T.TOS, Stock Forum) announced that it has received clearance from the U.S. Food and Drug Administration to expand the intended use claims for its TSO3 STERIZONE 125L Sterilizer. These new claims include the sterilization of packaged, multi-channel flexible endoscopes, such as colonoscopes, gastroscopes, bronchoscopes, ureteroscopes and choledochoscopes. Its shares climbed 13% to $1.61.



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