Stockhouse Canadian Small and Micro-cap Stock Report for Wednesday, September 14, 2011
TORONTO (SHfn) – Manitou Gold (TSX: V.MTU, Stock Forum) shares surged 24% to 54 cents on Wednesday after the micro cap explorer reported the receipt of diamond drill assay results from the initial three holes completed on the "KW-11-26 area" on the Kenwest Project in northwestern Ontario, which included 26.9 grams per tonne (g/t) gold over 9.0 metres (uncut).
As well, shares of TerraX Minerals (TSX: V.TXR, Stock Forum) moved up 27% to 38 cents as the junior miner said it has completed the second hole of the current drill program on its wholly-owned Stewart gold-copper property in Newfoundland, which intersected porphyry style alteration with what the company called “significant” sulphides similar to the first hole from 172 metres to the end of the hole at 585 metres.
Victory Resources (TSX: V.VR, Stock Forum), meanwhile, announced that equipment is on site in preparation for underground rehabilitation and diamond drilling on the Reforma main adit as well as the Reforma South underground workings in Mexico. Victory stock popped 13% to 35 cents.
And, Anaconda Mining (TSX: T.ANX, Stock Forum) Wednesday reported that the Pine Cove mine in Newfoundland has had its fifth consecutive quarter of record gold sales since restarting production in the summer of 2010, following the expansion of its mill. During the fiscal first quarter 2012 ended August 31, 2011, the company sold 2,858 ounces and generated $4,519,358 at an average sales price of $1,581. Anaconda shares added 22% at 11 cents.
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