Stockhouse Canadian Small and Micro-cap Stock Report for Tuesday, February 7, 2012
TORONTO (SHfn) – MAX Resource (TSX: V.MXR, Stock Forum) shares jumped 28% to 27.5 cents on Tuesday after the micro cap explorer said it has received assay results from the first three of the four step out drill holes completed at its Majuba Hill copper/silver project in Nevada, which included an intercept of 29.2 meters of 30.5 grams per tonne (g/t) silver and 0.69% copper.
As well, shares of Reservoir Capital (TSX: V.REO, Stock Forum) moved up 18% to 60 cents as the renewable energy company reported that it has received a formal confirmation from the Ministry of Infrastructure and Energy of the Republic of Serbia that the company's Brodarevo-1 and Brodarevo-2 hydroelectric projects have been included into the Bilateral Agreement on Renewable Energy with the Italian Government. Under the terms of this agreement all renewable energy produced in the approved projects in Serbia and exported to Italy will have a guaranteed production price of €155 per megawatt hour for the 15-year term of the agreement.
Canadian Orebodies (TSX: V.CO, Stock Forum), meanwhile, announced results of the initial independent National Instrument (NI) 43-101 Mineral Resource estimate using information from the 2011 drill program on the Haig Inlet Iron Ore Project in Nunavut, which showed an indicated iron ore resource of 230 million tonnes at 35.17% iron and an additional inferred resource of 289 million tonnes at 35.47% iron. Canadian Orebodies stock popped 20% to 33.5 cents on volume of more than 7.3 million shares.
And, NuLegacy Gold (TSX: V.NUG, Stock Forum) late Monday reported assays for the first 10 holes of a planned 20-hole reverse circulation reconnaissance drilling program on the 100 sq km Wood Hills South gold project in Nevada, which included a near surface oxidized 10.7 meter interval from 83.8 to 94.5 meters down hole that averaged 0.40 g/t gold within approximately 60 meters of anomalous gold (>10 ppb) mineralization and the associated Carlin-type style trace elements. NuLegacy Gold shares climbed 18% to 29.5 cents on Tuesday.
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