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Junior exploration stock pops on gold drill results

Sean Mason Sean Mason, Freelance
0 Comments| May 6, 2010

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TORONTO (SHfn) – Harte Gold (TSX: V.HRT, Stock Forum) shares powered as much as 21% higher to 14.5 cents on Thursday after the micro cap explorer reported further drill intersections from the current step-out and metallurgical diamond drill program at the Sugar Zone Property located in White River, Ontario, which included 24.71 grams per tonne (g/t) of visible gold over 3.20 metres.

As well, shares of Aeterna Zentaris (TSX: T.AEZ, Stock Forum) added 22% at $1.59 as the late-stage drug development firm specializing in oncology and endocrinology said it has received from the U.S. Food and Drug Administration (FDA) orphan-drug designation for AEZS-108, its doxorubicin targeted conjugate compound, for the treatment of ovarian cancer. AEZS-108 is currently in a Phase 2 trial in advanced ovarian and advanced endometrial cancer in Europe.

Golden Goliath Resources (TSX: V.GNG, Stock Forum), meanwhile, announced that has now received an additional 505 rock channel sample assays from its fully-owned Las Bolas project in Chihuahua, Mexico. Current results from the accessible part of the Silicosa South mine have an overall weighted average of 1.44 g/t gold, 155 g/t silver with an average width of 1.33 metres (width range 0.6 metres to 2.45 metres). The mineralized structure at the Silicosa North returned 0.53 g/t gold & 125 g/t silver over a 1.90 metre width. Golden Goliath stock popped 10% to 23 cents.

Shares of Primeline Energy Holdings (TSX: V.PEH, Stock Forum) climbed as much as 27% to 63 cents after the oil and gas explorer said positive electric logging results have prompted the company to prepare for drill stem testing (DST) of potential reservoir zones in the LS 35-3-1 exploration well in Block 25/34 in the East China Sea.

And, Triton Energy (TSX: V.TEZ, Stock Forum) Thursday reported a second Ellerslie liquids rich natural gas discovery with the deepening of the 100% owned Triton 14-29-37-8W5M well (14-29 well). Currently, the 14-29 well is producing against 1,000 psi of pipe line pressure to the high pressure side of the plant. The 14-29 well is producing approximately 500 boe/d net sales to the company (100 bbl/d liquids plus 2.8MMcf/d natural gas). Triton shares jumped as much as 16% to 21.5 cents.

Top Canadian Small/Micro-cap Advancers (as of 4 PM Eastern)
Top Canadian Small/Micro-cap Decliners

To read more articles by Sean Mason please click here



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