Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 21, 2010
TORONTO (SHfn) – Lithium could be as good as gold for one small miner Thursday, while gold/silver assays generated interest in another junior.
First Gold Exploration (TSX: V.EFG, Stock Forum) shares powered 26% higher to 32 cents on Thursday after the micro cap explorer announced the discovery of rare metals on its Pivert/Rose property in Quebec, along with up to 4.6% Li2O (lithium oxide).
As well, shares of SNL Enterprises (TSX: V.SNL, Stock Forum) added 27% at 10 cents as the junior miner provided assays from 2009 drilling on the "Midway" zone of the Dansey Project Area in British Columbia. In drill hole 09-SND-14, visible copper mineralization was encountered over 160 metres, which included 285 meters graded between 0.17% and 0.87% copper.
Solitaire Minerals (TSX: V.SLT, Stock Forum), meanwhile, said it is currently planning an extensive ground program over its newly-acquired land package adjoining the boundary of Imperial Metal Corporation's (TSX: T.III, Stock Forum) Red Chris property. Solitaire has entered into an option agreement whereby it can earn up to 100% interest in two property units collectively named the Summit Lake (Copper, Gold and Silver) Project totaling 5,458 acres in northwestern British Columbia. Solitaire stock popped as much as 26% to 12 cents.
And, Augen Gold (TSX: V.GLD, Stock Forum) Thursday reported drill results from ongoing work on its 100% owned South Swayze Property in northern Ontario, which included 5.29 grams per tonne (g/t) gold and 424 g/t silver over 0.50 metres. The company also said that gold is being consistently intersected within porphyry in the drill holes covering a 1,750 meter long strike length. Its shares surged as much as 10% at 16 cents.
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