TORONTO (SHfn) – Arianne Resources (TSX: V.DAN, Stock Forum) shares jumped as much as 40% to 21 cents on Tuesday after the micro cap explorer reported results of its diamond drilling program conducted on the El Rey gold/silver property in Sinaloa, Mexico, which included an intersection of 3.5 metres grading 28.36 grams per tonne (g/t) gold and 245.78 g/t silver.
As well, shares of Sabina Gold & Silver (TSX: T.SBB, Stock Forum) moved up 21% to $1.64 as the junior miner announced initial results of a new discovery from the 2010 drilling campaign on its 100% owned Back River project in Nunavut, which included 7.61 g/t gold over 22.2 meters.
Centurion Minerals (TSX: V.CTN, Stock Forum), meanwhile, said it has executed two agreements whereby Centurion will hold an 80% joint venture interest in the Banda Raya and Halimon Properties in Aceh Province, Sumatra, Indonesia. The two 10,000 hectare properties are located adjacent to, and directly to the north of, the East Asia Minerals' (TSX: V.EAS, Stock Forum) Miwah discovery. Centurion stock popped 21% to $1.89.
Shares of Nextraction Energy (TSX: V.NE, Stock Forum) powered 37% higher to $1.90 after the oil and gas explorer/developer and its wholly-owned subsidiary, Nextraction Energy (US) Inc., announced that it is testing flowback rates of the Mountain Minerals #5 well in its Appalachian Basin project near the Kentucky and Tennessee border. The well was frac'd on April 29, 2010, and flowed back natural gas and frac fluids over the weekend at a higher rate than expected.
And, StoneShield Capital (TSX: V.STS, Stock Forum) Tuesday reported that it has been granted an option to earn a 100% interest the Tabisco gold/silver project in Mexico from Azure Minerals Ltd. StoneShield also announced a private placement of units to raise up to $750,000 in working capital. Three first-round diamond drill holes at Tabisco totaling 587.5 metres of core encountered intercepts in epithermal quartz veining, which included 1.7 metres of 22.0 g/t gold and 332 g/t silver. StoneShield shares added 28% at 16 cents.
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