On Monday, Ecometals Ltd. (TSX: V.EC, Stock Forum) shares jumped 93% to 27 cents after the junior said it has received a number of permits related to the Serra do Navio manganese mine in northern Brazil. With these permits in hand, the company said it can start phase one of a project to process stockpiled manganese at a planned rate of 270,000 tonnes annually. Commercial shipments are expected to begin early next year, the company said. The stockpiled material is located at a former mine, which operated from 1957 to 1997.
As well, shares of Gold Canyon Resources Inc. (TSX: V.GCU, Stock Forum) gained 19% to close at 40 cents. The company said it is encouraged by the latest results from drilling at its wholly-owned Springpole gold project near Red Lake, Ont. Highlights from the first two drill holes of a summer 2010 program include 217 metres at 1.57 grams per tonne gold, and 123 metres of 1.45 grams per tonne gold. Eight holes have been completed since the start of the summer program, for a total of 2,675 metres. Drilling is planned to continue through early 2011.
In Tuesday trading, Golden Harp Resources (TSX: V.GHR, Stock Forum) climbed 43% to 15 cents after the junior said it has signed a letter of intent permitting Mineral Mountain Resources Ltd. (TSX: V.MMV, Stock Forum) to earn a 60% stake in its wholly-owned Copper Hill “Main Block” gold property in Ontario’s Shining Tree mining camp, about 100 kilometres south of Timmins.
Also, shares of New Guinea Gold (TSX: V.NGG, Stock Forum) rose 25% to 10 cents. The junior said exploration crews intersected high grade gold while drilling below the Southern Oxide Pit at the Sinivit Mine in Papua New Guinea. Highlights include a 12- metre intersection grading 10.28 grams gold per tonne, and 1.85 grams copper per tonne. “At this time, we do not know the extent of this mineralisation, or its mineralogy, which will determine how it can be processed,’’ said New Guinea chief executive officer Bob McNeil. Further results from the Southern Oxide pit are expected to be released within the next two weeks.
Wednesday’s market action saw shares of Photon Control (TSX: V.PHO, Stock Forum) surge 69% to 13.5 cents after releasing its financial results for the second quarter ended June 30, 2010. A developer of photonic sensors, the company said product sales in the second quarter rose to $3.9 million, compared to $700,000 in the same period last year. Photon said it recorded its fourth profitable quarter in a row, posting earnings of just over $1 million, compared to a loss of $191,064 in the equivalent 2009 quarter.
In addition, shares of Greenlight Resources (TSX: V.GR, Stock Forum) moved up 22% to 33.5 cents. The junior said drilling has started on its Brazil Lake lithium and rare metals property in Nova Scotia. The company is gearing up for a 2,500-metre program to follow-up on earlier drill programs, which uncovered two lithium-bearing pegmatite dikes, which host several other rare metals. The 3,160-acre property is located about 30 kilometres north of Yarmouth.
On Thursday, Vista Gold (TSX: T.VGZ, Stock Forum) shares powered 15% higher to $1.98 after the micro cap miner reported estimated proven and probable mineral reserves of two million ounces as well as the results of a Preliminary Feasibility Study for the Batman deposit at the its wholly-owned Mt. Todd gold project in Northern Territory, Australia.
As well, shares of Soltoro (TSX: V.SOL, Stock Forum) shot up 13% to 26 cents as the junior explorer said it has completed further drilling to expand the Las Bolas deposit on its El Rayo property in Mexico. Drill results included 61.5 metres of 106 grams per tonne (g/t) silver.
And, in Friday trading, Aura Silver Resources (TSX: V.AUU, Stock Forum) shares climbed 18% to 20 cents after the micro cap explorer reported preliminary results of drilling and prospecting on its Greyhound (Nunavut) property. The company said surface samples recently collected indicate that there is at least a 500 meter long zone extending south from the original gold showing (which contains 28 grams per tonne) that contains similar-style alteration and sulfide content to the south of Aura Lake.
Finally, shares of Commerce Resources (TSX: V.CCE, Stock Forum) gained as much as 13% to 43 cents as the junior miner reported that the results from the first hole of the 2010 drilling program at the Eldor Project in Quebec included 1.72% Total Rare Earth Oxides (TREO) over 215.30 metres.