On Monday, North American stock markets were closed for the Labour Day holiday.
In Tuesday trading, Kodiak Exploration (TSX: V.KXL, Stock Forum) shares climbed 43% to 33.5 cents after the micro cap miner reported that exploration drilling on the GK target area at the West Geraldton project in northern Ontario has intercepted 24.9 metres grading 9.31 grams per tonne (g/t) gold.
As well, shares of Marathon PGM (TSX: T.MAR, Stock Forum) soared 94% to $3.65 as the miner said it has entered into a definitive agreement pursuant to which Stillwater Mining Company (NYSE: SWC, Stock Forum), by way of a plan of arrangement, will acquire all of the outstanding shares of Marathon PGM. According to the terms of the transaction, Stillwater will exchange 0.112 common shares of its stock and $1.775 in cash for each outstanding share of Marathon PGM, for a total consideration of about US$118 million, or $3.55 per Marathon PGM share.
Wednesday’s market action saw shares of Northern Tiger Resources (TSX: V.NTR, Stock Forum) jump 44% to 39 cents after the micro cap explorer announced that a chip sampling program on the 3Ace Property in the Yukon continues to demonstrate what the company called "the high-grade nature of the gold mineralization in the Main Zone." Northern Tiger is planning a minimum six-hole (1,000 metre) diamond drilling program to follow-up on a 2010 surface exploration program. "High-grade gold mineralization" has been identified in three other separate zones (Sleeping Giant, Green Zone and North Zone) on the property in addition to the Main Zone.
Also, shares of Channel Resources (TSX: V.CHU, Stock Forum) shot up 54% to 18.5 cents as the junior miner reported the second set of drilling results from a Phase I Reverse Circulation drilling program on the Tanlouka Gold Project in Burkina Faso, West Africa, which included 38 metres grading 3.09 grams per tonne (g/t) gold.
On Thursday, Northern Lion Gold (TSX: V.NL, Stock Forum) shares surged as much as 20% to 18 cents after the micro cap miner provided an update on the 2010 exploration programs for its exploration projects in Cyprus. Highlights of this sampling include 1.13 grams per tonne (g/t) gold over 22.6 metres across the bench and grabs of up to 30.8 g/t gold from the wall of the upper bench.
In addition, shares of Stellar Biotechnologies (TSX: V.KLH, Stock Forum) moved up 16% to 37 cents as the manufacturer of pharmaceutical grade immune carrier proteins announced filing for patent protection of inventions related to its native Immunogenic (IMG) KLH technology platform and immune status monitoring product portfolio. KLH (keyhole limpet hemocyanin) is an immune stimulant for use in cancer, viral and parasite vaccines; animal vaccines; and diagnostic products.
And, in Friday trading,Castle Resources (TSX: V.CRI, Stock Forum) shares powered 13% higher to 31 cents on Friday after the micro cap explorer provided an update to investors about its ongoing exploration and drilling activity at the Granduc Copper Project near Stewart, British Columbia. The company said more than 3,000 metres of the 10,000 metre drill program have been completed with objective to outline a large 43-101 resource within the undeveloped historical deposit. Initial assays from the twinning program are expected by end of September 2010.
"Since announcing the initial option transaction for the Granduc in July we have moved quickly to establish and begin a comprehensive drill twinning program," said Mr. Mike Sylvestre, President & COO of Castle Resources. "Our objective is to commission a preliminary NI 43-101 resource estimate based on the results of this year's program, which will confirm the presence of a large and potentially mineable copper and precious metal resource at the Granduc."
Finally, shares of Mega Precious Metals (TSX: V.MGP, Stock Forum) gained 18% to 60 cents as the junior miner reported the resolution of its staking dispute with Goldcorp, which was a result of a competitive staking rush in the North Madsen area of Red Lake, Ontario.