TORONTO (SHfn) – Infinito Gold (TSX: V.IG, Stock Forum) shares climbed 58% to 41 cents on Monday after the micro cap miner reported that on Friday, April 16, 2010, the Constitutional Chamber of the Supreme Court in Costa Rica (SALA IV) ruled that the challenges to the grant of permits allowing development of the company's Crucitas gold project are without merit, ending the suspension of development activity at the project imposed by the SALA IV.
As well, shares of Tawsho Mining (TSX: V.TAW, Stock Forum) shot up 31% to 19 cents as the junior explorer announced the completion of the National Instrument 43-101 Standards of Disclosure for Mineral Projects compliant report on the mineral resource of the Chevrier deposit on its Chevrier Property in Quebec. Based on a numerical modeling, the Chevrier deposit, one of the two mineral deposits of the Chevrier Property, from surface to a depth of 250 metres to contain 4.6 million tonnes of inferred resource at an average grade of 1.99 grams per tonne (g/t) gold using a cut-off of one g/t gold and a minimum width of 1.5 metres for a total of 295,000 ounces.
Ginguro Exploration (TSX: V.GEG, Stock Forum), meanwhile, reported results of ongoing metallurgical testing of the Pardo gold mineralization currently underway at the SGS laboratories in Lakefield, Ontario. Direct head grades of the five samples averaged 2.0 g/t gold, while the Gravity Separation test work achieved an average gold recovery of 41% with an average concentrate grade of 1.373 g/t. Its Pardo property is near Sudbury, Ontario. Ginguro stock popped as much as 23% to 75 cents.
And, Junex (TSX: V.JNX, Stock Forum) Monday announced that Netherland, Sewell & Associates, Inc., an independent petroleum consulting firm based in Texas, has provided their "Best Estimate" of the Undiscovered original gas in place resources volumes for the Utica Shale for most of Junex's permits in the St. Lawrence Lowlands. When combined with Junex's company gross un-risked prospective resources for the Nicolet Permit, the combined company gross un-risked prospective resources ranges from a Low Estimate of 1.23 Trillion Cubic Feet (TCF) (effective 4% recovery factor) to a High Estimate of 10.98 TCF (effective 25% recovery factor), with a Best Estimate of 3.69 TCF (effective 10% recovery factor) to Junex's net interest in its St. Lawrence Lowlands permits. Its shares added as much as 14% at $2.50.
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