Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, January 11, 2011
TORONTO (SHfn) – Metals Creek Resources (TSX: V.MEK, Stock Forum) shares jumped 20% to 32.5 cents on Tuesday after the micro cap explorer reported additional assay results from its recently completed 4102 meter diamond drill program on the Ogden Gold Project in Timmins, Ontario, which included 4.37 grams per tonne (g/t) gold over 23.4 meters. The Ogden Gold Project is under option from Goldcorp Canada Ltd. and Goldcorp Inc. Metals Creek can earn a 50% interest in the project by incurring $3.1 million in expenditures and issuing a combination of cash and shares totaling $460,000 over four years.
As well, shares of Astral Mining (TSX: V.AA, Stock Forum) moved up 24% to 23 cents as the junior miner said it has received analyses from due diligence rock chip sampling over key showings at the 4,168 hectare Los Crestones Property in Mexico, which included one metre grading 26.9 g/t gold and 56 g/t silver, as well as three metres grading 13.7 g/t gold and up to 649 g/t silver from a three metre chip sample.
Cornerstone Capital Resources (TSX: V.CGP, Stock Forum), meanwhile, reported that it has concluded a definitive agreement with its joint venture partner that will allow diamond drilling to begin immediately on the Gama Prospect, located in the north west portion of the company's flagship Shyri Gold-Copper Project in Ecuador. Cornerstone Capital stock popped 19% to 28.5 cents.
Shares of Champion Minerals (TSX: T.CHM, Stock Forum) climbed 15% to $2.60 after the iron ore junior announced the addition of two claim blocks to its holdings in the Fermont Iron Ore District of northeastern Quebec.
And, Rockland Minerals (TSX: V.RL, Stock Forum) Tuesday announced that all assays have been received from its Fall 2010 diamond drill program at the Schefferville Gold Project, Quebec. The company said the results point to the presence of widespread gold mineralization on the property that could possibly be amenable to bulk tonnage exploitation from the surface. Rockland shares added as much as 14% at 16 cents.
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