Stockhouse Canadian Small and Micro-cap Stock Report for Thursday, January 6, 2011
TORONTO (SHfn) – Revolution Resources (TSX: T.RV, Stock Forum) shares powered 26% higher to 59 cents on Thursday after the micro cap explorer announced it has encountered what the company called “significant” gold mineralization in the first drill holes completed at its Champion Hills Project in North Carolina, which included 30.0 meters averaging 2.59 grams per tonne (g/t) gold.
As well, shares of Compass Petroleum (TSX: V.CPO, Stock Forum) gained 19% to $1.65 as the oil and gas producer/explorer provided an update of its drilling and operating achievements for its Viking light oil resource play at Lucky Hills, Saskatchewan. Drilled and cased 13 (13.0 net) Viking horizontal wells in the Dodsland area, of which 12 (12.0 net) are currently producing. One (1.0 net) cased Viking horizontal well is scheduled for completion in January 2011. During the period from June 2010 to the end of December 2010, the company grew its Viking production from zero to over 500 boe per day (87% light oil), based on field estimates.
Loncor Resources (TSX: V.LN, Stock Forum), meanwhile, reported results for a further three drill holes at its Makapela prospect, and one additional drill hole at its Yindi prospect, Ngayu Gold Project, in the Democratic Republic of the Congo, which included 18.98 metres grading 3.66 g/t gold. Loncor stock popped 14% to $2.50.
And, Canada Gas (TSX: V.CJC, Stock Forum) Thursday said it has signed a letter of intent whereby Zimtu Capital Corp. and Glenn Griesbach will provide the company an option to purchase a 100% interest in and to the 2,585 hectare Goeland Property in the Abitibi region of Quebec. The Goeland Property consists of 47 mining claims within and adjacent to the Montviel Carbonatite Complex, which historically has revealed strong potential for rare earth element, niobium and phosphate mineralization. Canada Gas shares jumped 28% to 20.5 cents.
| Top Canadian Small/Micro-cap Advancers (as of 2:30 PM Eastern) |
| Top Canadian Small/Micro-cap Decliners |
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