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Canadian small/micro-cap weekend roundup

Stockhouse Editorial
0 Comments| September 17, 2011

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On Monday, Canaco Resources (TSX: V.CAN, Stock Forum) shares climbed as much as 17% to $3.68 after the gold junior reported new assay results from diamond drilling at the Magambazi gold discovery on its Handeni project in Tanzania, which included 49.0 metres at 3.92 grams per tonne (g/t) gold.

As well, shares of OPEL Technologies (TSX: V.OPL, Stock Forum) added 13% at 79 cents as the global supplier of high concentration photovoltaic solar panels, solar tracker systems and semiconductor device and process developer said it has selected GrowthPoint Technology Partners as advisors to the company. GrowthPoint will assist OPEL in identifying and evaluating strategic options for the value optimization of ODIS' proprietary Planar Optoelectronic Technology (POET) semiconductor process.

In Tuesday trading, Paramount Gold and Silver (TSX: T.PZG, Stock Forum) shares jumped 21% to $2.88 after the miner reported that its Sleeper project in Nevada is estimated to have an indicated and measured resource of 2.6 million ounces of gold and 25.3 million ounces of silver. The project also has an additional inferred resource of 1.1 million ounces of gold and 8.2 million ounces of silver at lower grades.

Also, shares of Bellhaven Copper & Gold (TSX: V.BHV, Stock Forum) shot up 28% to 64 cents as the junior explorer announced that the first NI 43-101 resource estimate for its 100%-controlled La Mina Project in Colombia has established inferred resources containing 1.0 million ounces of gold and 1.6 million ounces of gold-equivalent.

Wednesday’s market action saw shares of Manitou Gold (TSX: V.MTU, Stock Forum) surge 24% to 54 cents 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).

In addition, 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.

On Thursday, Paragon Minerals (TSX: V.PGR, Stock Forum) shares powered 71% higher to 12 cents after the micro cap miner provided a further update on drilling activities and results on the 100%-controlled South Tally Pond volcanogenic massive sulphide (VMS) project in Newfoundland, which included 7.0 metres of 1.65% copper, 12.74% zinc, 3.27% lead, 185.75 grams per tonne (g/t) silver and 10.13 g/t gold.

As well, shares of Serengeti Resources (TSX: V.SIR, Stock Forum) gained as much as 14% to 24.5 cents as the junior explorer said it has received results from an Induced Polarization (IP) survey completed at the Croy Bloom project in British Columbia. The company believes that the veins at the Croy showing and other showings in the area potentially represent the surface expression of a concealed porphyry copper-gold system.

And, in Friday trading, Carpathian Gold (TSX: T.CPN , Stock Forum ) climbed 12% to 73 cents after the gold junior reported that it has received the Ad Referendum for the Licenca Instalacao, thereby enabling it to proceed with the overall construction of its 100% owned Riacho dos Machados Gold Project in Brazil.

Finally, shares of Calibre Mining (TSX: V.CXB, Stock Forum) rose 17% to 13.5 cents as the junior explorer announced additional exploration results from its 100%-owned Riscos de Oro epithermal gold-silver project in Nicaragua, which showed anomalous gold-arsenic over a three kilometre strike length coincident with the Riscos de Oro vein trend in the vicinity of the historic deposit. Additional anomalies have been identified extending a further four kilometres of strike length towards the southwest.



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