On Monday, Serengeti Resources (TSX: V.SIR, Stock Forum) shares climbed 24% to 36.5 cents on Monday after the micro cap explorer reported the initial resource estimate for the South Zone at its 100% owned Kwanika property in British Columbia. Aggregate mineral resources at Kwanika combining the current South Zone and previously released Central Zone (see NR 2009-4 dated Feb 25, 2009), now total 1.1 billion pounds of copper and 1.6 million ounces of gold in the Indicated category (in the Central Zone), plus 1.0 billion pounds of copper and 0.5 million ounces of gold in the Inferred category (in the South & Central Zones) all estimated at a 0.25% copper-equivalent (CuEq) cut-off grade.
As well, shares of SemBioSys Genetics (TSX: T.SBS, Stock Forum) shares gained 17% to 27 cents as the manufacturer of proteins and oils announced that its partner Arcadia Biosciences Inc., has successfully completed the U.S. Food and Drug Administration (FDA) regulatory process for SONOVA 400, a GLA-rich safflower oil. Gamma linolenic acid, or GLA, is an essential fatty acid with potential use in topical, medical food and nutrition products. Scientific studies suggest that GLA may offer benefits for sufferers of blood platelet dysfunction, atherosclerosis and rheumatoid arthritis.
In Tuesday trading, Magellan Minerals (TSX: V.MNM, Stock Forum) shares jumped 16% to 88 cents on Tuesday after the micro cap miner released fresh drill results at its Moreira Gomes prospect located in its Cuiu Cuiu project in Brazil. The company released results from seven diamond drill holes, including hole CC53-09, which showed 13.69 grams/tonne (g/t) of gold over 17 metres. However, the other holes showed gold at less than two grams/tonne.
Also, shares of Great Quest Metals (TSX: V.GQ, Stock Forum) shot up 52% to 16 cents as the junior explorer said it had acquired a 50 square kilometer gold concession in Western Mali, West Africa. The company’s release from Monday said that it expected the potential for a gold discovery was very high. Great Quest agreed to pay $120,000 over three years for the concession.
Wednesday’s market action saw shares of Hana Mining (TSX: V.HMG, Stock Forum) surge 13% to $1.70 on Wednesday after the micro cap explorer announced the completion of 23 new RC drill holes at its Ghanzi sediment-host copper-silver project in Botswana, which included 1.21% copper and 16.8 grams per tonne (g/t) silver over 15 metres.
In addition, shares of H2O Innovation (TSX: V.HEO, Stock Forum) moved 18% to 71 cents after the water treatment solutions provider said it has signed a sales representative agreement with 3M Purification, formerly known as CUNO Incorporated. Under the agreement, 3M Purification will represent H2O Innovation's complete line of customized water treatment solutions in the U.S. oil & gas and automotive assembly markets.
On Thursday, 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.
And, in Friday trading, shares of Blue Note Mining (TSX: V.BNT, Stock Forum) shot up 37% to 18.5 cents after the junior explorer reported that its shareholding in First Gold Exploration (TSX: V.EFG, Stock Forum) has appreciated substantially in recent days and has a current value of approximately $2.5 million. Blue Note holds 4,376,000 shares of First Gold and the two companies are 50-50 joint venture partners in the Croinor gold mine in Val-D'Or, Quebec that is slated to reopen later this year.