Stockhouse Canadian Small and Micro-cap Stock Report for Monday, July 18, 2011
TORONTO (SHfn) – Golden Touch Resources (TSX: V.GOT, Stock Forum) shares climbed 15% to 46 cents on Monday after the micro cap miner reported that assay results have outlined further gold mineralization within holes recently drilled at the Gjazuj Area at its Rubik Gold Project in Albania, which included 17 metres at 3.0 grams/tonne (g/t) gold over the down hole interval from 47-64 metres.
As well, shares of Afexa Life Sciences (TSX: T.FXA, Stock Forum) shot up 20% to 55 cents as the biotech firm announced the U.S. Food and Drug Administration authorization of a Phase 1B clinical trial of AFX-2 (CVT-E002) as an Investigational New Drug in adults with Chronic Lymphocytic Leukemia. In addition, after Friday’s close, Paladin Labs (TSX: T.PLB, Stock Forum) said it has acquired common shares of Afexa that give Paladin beneficial ownership of a total of 15,421,300 common shares of Afexa, or approximately 14.94% of Afexa's total issued and outstanding common stock.
Rare Earth Metals (TSX: V.RA, Stock Forum), meanwhile, reported that a preliminary mineralogy report has been received from Anthony (Tony) Mariano, Ph.D, and Anthony Mariano Jr. describing the Rare Earth Element mineralogy in recently drilled core from the Lavergne-Springer Project near Sudbury, Ontario. Dr. Mariano reported that drill core samples from SL-11-03 (8.0 metres depth) were examined briefly for mineralogy and mode of occurrence and he concluded that the sample consists of dispersed clusters of fine-grained synchysite. Rare Earth stock popped 15% to 30 cents.
And, Mirasol Resources (TSX: V.MRZ, Stock Forum) Monday said it has received what the company called positive results from six holes drilled on previously undrilled vein targets, which expand the mineral potential of its 100%-owned Virginia Silver project in Argentina, which included 11.3 metres grading 239 g/t silver. Mirasol shares added as much as 8% at $5.50.
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