Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, October 13, 2010
TORONTO (SHfn) – Pelangio Exploration (TSX: V.PX, Stock Forum) shares jumped 17% to 75 cents on Wednesday after the micro cap explorer announced gold intersections in oxidized bedrock from the Pokukrom West area and the new discovery of a potential bulk tonnage zone at the Nfante East area of the Manfo Property in Ghana, which included 36.21 grams per tonne (g/t) gold over nine metres.
As well, shares of Alturas Minerals (TSX: V.ALT, Stock Forum) moved up 32% to 16.5 cents as the junior miner reported assay results from the first five diamond drill holes completed as part of the first phase drill program at its La Corina property in Chile, which included a section in one drill hole of 47.8 meters grading 0.90 g/t gold.
Azimut Exploration (TSX: V.AZM, Stock Forum), meanwhile, announced a copper (gold, silver) discovery on its 100%-owned REX property in Nunavik, Quebec. The mineralization, which occurs over a largely outcropping zone several kilometres long and about 100 metres wide or more, was discovered during an initial exploration program conducted on the property this summer. Results received to date included copper grades up to 10.7% copper in grab samples. Furthermore, at least five other kilometre-scale prospects yielded copper (up to 4.4 % Cu), gold (up to 16.1 g/t Au), silver (up to 196.0 g/t Ag) and cobalt (up to 0.19% Co). Azimut stock popped 16% to 82 cents.
Shares of Source Exploration (TSX: V.SOP, Stock Forum) climbed 50% to 30 cents after the junior explorer reported that its 100% owned Mexican subsidiary, Roca Verde Exploracion de Mexico, has entered into exclusive letters of intent to acquire the Las Minas and La Miqueta Projects, collectively named the Las Minas Project, comprised of five privately-held mineral concessions covering approximately 1,271 hectares in the core of the Las Minas district in the State of Veracruz, Mexico, host to some “underexplored” gold-copper skarn systems.
And, Labopharm (TSX: T.DDS, Stock Forum) Wednesday said its twice-daily tramadol-acetaminophen has received a positive opinion under the European Union Decentralized Procedure in eight countries (Czech Republic, Iceland, Ireland, Poland, Portugal, Slovakia, Slovenia and Spain). Marketing Authorization will be granted in each country subject to the approval of translations of the Summary of Product Characteristics and other labeling documents. Labopharm shares rose 10% to $1.07.
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