Stockhouse Canadian Small and Micro-cap Stock Report for Monday, January 31, 2011
TORONTO (SHfn) – Selwyn Resources (TSX: V.SWN, Stock Forum) shares climbed 17% to 31.5 cents on Monday after the micro cap explorer reported assay results from the drilling of the 98/99-lenses of the XY Central deposit at Selwyn Project, Yukon Territory that is being done by Selwyn Chihong Mining Ltd., the joint venture company equally owned by Selwyn and Chihong Canada Ltd. Results included 14.54 metres true thickness grading 6.86% zinc and 4.61% lead.
As well, shares of Avnel Gold Mining (TSX: T.AVK, Stock Forum) added 14% at 53 cents as the junior miner provided a project update and highlights for the exploration work program on its 80% owned 387.4 km(2) Kalana exploitation permit in Mali conducted by its joint venture partner IAMGOLD Corporation as operator of the exploration venture. During 2010, diamond drilling and RC drilling has shown the potential for bulk mining at Kalana. As well, mineralized packages up to 20 metres width have been confirmed by drilling and underground development in the northern area of the Kalana Mine.
BELLUS Health (TSX: T.BLU, Stock Forum), meanwhile, reported the results of the phase I clinical study for NRM8499, a prodrug of tramiprosate, intended for the treatment of Alzheimer's disease. Results of the Phase I Study indicated that NRM8499 was safe and well tolerated at the intended therapeutic dose. Moreover, the gastrointestinal tolerability and pharmacokinetic profile of tramiprosate, with regards to the inter-individual variability in drug systemic exposure, were meaningfully improved with NRM8499 when compared to the administration of an equivalent dose of tramiprosate. BELLUS stock popped 20% to 21 cents.
Shares of Intertainment Media (TSX: V.INT, Stock Forum) powered 38% higher to 22 cents after the technology and marketing solutions provider said its social media, real time, language translation platform, Ortsbo.com, has doubled user engagement since December 2010, with over 54 million minutes of online usage.
And, Adroit Resources (TSX: V.ADT, Stock Forum) Monday announced that the initial 2,000 meter drill program has been increased to 3,000 meters by awarding a 1,000 meter contract to Laframboise Drilling Inc. to drill the extra 1,000 meters. The Laframboise drill is on site and drilling has begun on a combined MMI/IP target on Zone B of the Grassy Lake portion of the Red Vein Property, located within the southern part of the Abitibi greenstone belt in the Shining Tree area of northern Ontario. Adroit shares surged 16% to 26 cents.
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