TORONTO (SHfn) – Gold Bullion Development (TSX: V.GBB, Stock Forum) shares climbed as much as 17% to 42 cents on Friday after micro cap explorer/developer provided an update on its Granada Gold Property in Quebec. A Preliminary Block Model, which excludes the recent discovery in the northeast section of the LONG Bars Zone, has outlined a gold mineralized system at Granada that offers a potential resource of 2.4 to 2.6 million ounces. This figure represents a defined area with a strike length of 600 metres, a width of 500 metres at an angle of 50 degrees from horizontal, and an average true thickness of 70 metres.
As well, shares of Medicago (TSX: V.MDG, Stock Forum) moved up 16% to 54 cents as the biotechnology company reported that it has received conditional approval from the Toronto Stock Exchange to graduate from the TSX Venture Exchange and list its common shares on the TSX.
New World Resource (TSX: V.NW, Stock Forum), meanwhile, said it has been clearly informed by the Bolivian Government that pre-existing rights would be respected within the new mining law. The company was also invited to join the Bolivian Government's Scientific Support Committee, which is designed to assist the Bolivian Government in its plan to develop a pilot plant at the Salar de Uyuni, Bolivia's largest lithium resource that is currently part of the country's strategic fiscal reserve. New World stock popped 42% to 32 cents.
And, Advanced Explorations (TSX: V.AXI, Stock Forum) Friday announced that it plans to begin its summer field program in late May. The primary focus of the program will be to advance the Roche Bay project in Nunavut. Work is also planned for the Tuktu Deposit but the scope and scale will be finalized once the final metallurgical report is received. Its shares surged as much as 18% to 26.5 cents.
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