Northern Graphite Corp. (TSX: V.NGC, Stock Forum) rose 15% Thursday after the company released drill results from its Bissett Creek property in northern Ontario.
All 61 holes returned widths and grades as good or better as good or better than those in the recently completed bankable feasibility study, the company said in a press release.
A new resource estimate, based on the drill results, is expected to be completed by the end of March.
Trading at $1.18 on Thursday, Northern Graphite has a market cap of $58 million, based on 49 million shares outstanding. The 52-week range is $3.42 and 58 cents.