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Canadian small/micro-cap weekend roundup

Stockhouse Editorial
0 Comments| June 16, 2012

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On Monday, WCB Resources (TSX: V.WCB, Stock Forum) shares climbed 43% to 70 cents after the micro cap explorer reported that it has entered into an exploration farm-in agreement with Pan Pacific Copper covering EL1747 located on Misima Island, Papua New Guinea. Historic production was four million ounces of gold and 20 million ounces of silver from several open pits. WCB can earn up to a 70% interest in this license by spending a total of A$9.0 million within four years.

As well, shares of 01 Communique Laboratory (TSX: T.ONE, Stock Forum) rose 11% to 94 cents as the company and Wi-LAN (TSX: T.WIN, Stock Forum) announced that they have entered into a Settlement and Patent License Agreement with Bomgar Corporation, which settles all litigation among the parties and provides Bomgar with a license to certain 01 Communique U.S. and Canadian patents.

In Tuesday trading, Anatolia Energy (TSX: V.AEE, Stock Forum) shares jumped 23% to 19 cents on volume of more than 4.9 million shares after the oil and gas explorer/developer reported results of an independent, NI 51-101 compliant resource evaluation report, which identified a P50 gross best estimate of 11.6 billion barrels of original oil in place for its prospective Dadas Shale acreage in Turkey, in which the company holds a 50% interest.

Also, shares of Corvus Gold (TSX: T.KOR, Stock Forum) added 7% at $1.05 as the junior miner announced results from a series of large diameter diamond drill holes at its North Bullfrog Project in Nevada, which included 58 metres of 0.6 grams per tonne (g/t) gold.

Wednesday’s market action saw shares of Urastar Gold (TSX: V.URS, Stock Forum) surge as much as 17% to 27 cents after the micro cap miner reported drilling results for its 805 metre reverse circulation drill program on the El Jabali property in Mexico, which included 24 metres of 3.324 grams per tonne (g/t) gold from 13.7 metres to 38.1 metres.

In addition, shares of RJK Explorations (TSX: V.RJX.A, Stock Forum) plummeted 46% to 9.5 cents on volume of more than 3.2 million shares as the junior explorer provided results from the phase one diamond drill program on its 9,200 hectare Blackwater East and Northeast Properties in British Columbia. Poor drilling conditions within the property resulted in three holes being lost in overburden and three holes not reaching their intended depth. Two other target areas were tested and no significant gold or silver values were recorded in the sampling of these holes.

On Thursday, Amerix Precious Metals (TSX: V.APM, Stock Forum) shares powered 78% higher to 16 cents on volume of more than 5.2 million shares after the micro cap explorer reported that in its initial two drill holes it has intercepted a zone of gold mineralization at its 100% owned Limão Gold Property in Brazil, which included 12.67 metres grading 14.04 grams per tonne (g/t) gold.

As well, shares of Lorus Therapeutics (TSX: T.LOR, Stock Forum) shot up 28% to 57 cents as the biopharmaceutical company announced the addition of MD Anderson Cancer Center as a second site in the ongoing Lorus Phase I clinical trial with its anticancer drug LOR-253.

And, in Friday trading, Pacific North West Capital (TSX: T.PFN, Stock Forum) shares climbed 18% to 10 cents after the micro cap explorer announced a NI 43-101 resource estimate for its 100% owned River Valley PGM Project near Sudbury, Ontario, which showed a Measured and Indicated resource of 2.46 million ounces Platinum Group Metals (PGM) plus gold, as well as an Inferred resource of 614,000 ounces PGM plus gold.

Finally, shares of Cortez Gold (TSX: V.CUT, Stock Forum) gained as much as 12% to 14.5 cents as the junior miner said it has begun construction to complete the gold-silver processing plant situated in Matehuala, Mexico.



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