Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, December 9, 2010
TORONTO (SHfn) – Ashburton Ventures (TSX: V.ABR, Stock Forum) shares powered 119% higher to 23 cents on Thursday after the micro cap miner said it has signed a letter agreement with Premier Gold Mines (TSX: T.PG, Stock Forum), whereby Premier will participate in a private placement financing that will be completed by Ashburton. The majority of this financing will fund further exploration at Ashburton's Deep Creek gold property in Nevada.
As well, shares of Gold Canyon Resources (TSX: V.GCU, Stock Forum) rose as much as 10% to $2.54 as the gold junior reported that hole SP10-029 at its 100% controlled Springpole Gold Project located in the Red Lake Mining District of Ontario has intersected 132 meters at 2.30 grams per tonne (g/t) gold, including 42 meters at 5.28 g/t gold.
Pure Energy Services (TSX: T.PSV, Stock Forum), meanwhile, announced that it has entered into an agreement with a major independent oil and gas producer working in the Marcellus shale play in Pennsylvania for the provision of fracturing flowback well services. The agreement provides the producer with the exclusive use of four high pressure well testing packages including pipe and auxiliary equipment for a period of two years beginning January 1, 2011, at a fixed monthly fee. Pure Energy stock popped 15% to $5.65.
And, Canuc Resources(TSX: V.CDA, Stock Forum) late Wednesday reported that it has received and filed a National Instrument 43-101 report on its newly-acquired Mill Village Gold Property in Nova Scotia. The report highlighted four known zones of gold mineralization including the Gold Eagle, Thompson and Eaglet Veins that can be explored from both surface and underground as well as three exploration targets. The report proposes a $1.1 million dollar exploration program that includes geophysics, geochemistry, till sampling, diamond drilling, dewatering of the Gold Eagle Mine, drifting, bulk sampling and preliminary metallurgical studies. Canuc shares jumped 16% to 18.5 cents on Thursday.
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