Stockhouse Canadian Small and Micro-cap Stock Report for Monday, August 22, 2011
TORONTO (SHfn) – Ocean Park Ventures (TSX: V.OCP, Stock Forum) shares jumped 20% to 84cents on Tuesday after the micro cap explorer provided an update on drilling at the Trapper gold project in British Columbia. Over 2,600 meters of diamond drilling have been completed in 13 of 25 planned diamond drill holes. Twelve of thirteen drill holes have intersected 1 to 3 zones of sulfide mineralization associated with intense carbonate and/or silica alteration over widths of between 5.04 and 96.80 metres. Also, visible gold was identified in drill hole TG-11-011.
As well, shares of Probe Mines (TSX: V.PRB, Stock Forum) moved up 17% to $1.76 as the junior miner announced that it has received the initial mineral resource estimate for its Borden Lake gold deposit near Chapleau, Ontario. Highlights included an Indicated Resource of 11,607,000 tonnes averaging 0.8 grams per tonne (g/t) gold for 305,000 ounces of gold and an additional Inferred Resource of 169,322,000 tonnes averaging 0.69 g/t gold for 3,755,000 ounces of gold.
Byron Capital Markets, meanwhile, said it has initiated coverage on Northcore Technologies (TSX: T.NTI, Stock Forum) with a “speculative buy” rating and a target price of $1 a share. Northcore stock popped 14% to 24.5 cents.
And, GobiMin (TSX: V.GMN, Stock Forum) Tuesday reported that it has entered into an agreement to dispose of its 24.49% indirect equity interest in the Balikun Coal Project in China for a total consideration of approximately US$30.35 million. GobiMin shares climbed 17% to 75 cents.
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