Despite the Winter Olympics keeping news flow quieter than usual in Vancouver, Feb. 16-22 was a busy trading week for the S&P TSX Venture composite index. The board ended the week up 8.33 points at 1,528.47 with daily trading volumes averaging 104 million.
Bulls just barely edged out bears over the week, with 52 Venture-listed companies reaching new 52-week highs while 45 juniors fell to new lows.
Results from the Duparquet gold project in Quebec, where Osisko Mining recently agreed to spend $70 million to earn a 50% interest, lifted owner Clifton Star Resources to the biggest gain on the board — $1.20 — and a new share price high of $7.15. The historic property, which is 90 km from Osisko’s developing Canadian Malartic mine, produced such intercepts as 1.62 grams gold per tonne over 171 metres, 1.29 grams gold over 100 metres, and 1.5 grams gold over 119 metres.
Medoro Resources added a few million oz. of gold to the resource at its newly-acquired Zona Baja property in Colombia and the news added 12¢ to the junior’s share price, which closed at 66¢. Zona Baja now hosts 92 million measured and indicated tonnes grading 1.17 grams gold and 32.6 grams silver plus 40 million inferred tonnes at a slightly lower grade. Combined with the gold defined at Medoro’s two adjacent properties, the company’s land package now boasts 6.9 million oz. gold as measured and indicated resources.
Early-stage exploration results that identified three main iron formation targets at the Attikamagen property in Quebec lifted Champion Minerals’ share price 58¢ to reach $1.45. Privately-owned Labec Century Iron Ore is spending $12.5 million on exploration to earn a 60% interest in Attikamagen. The partners believe the property has good potential to host direct shipping ore mineralization.
Fission Energy’s share price has climbed to almost $1 from below 20¢ in a month. The company is drilling at its Waterbury Lake uranium discovery in Saskatchewan, which is adjacent to Hathor Exploration’s Midwest Northeast project, and recent results include 12 metres of 3.64% U3O8 and 10.5 metres of 1.91% U3O8.
Strong drill results keep rolling in from East Asia Minerals’ Miwah gold project in Aceh province, Indonesia. The latest set of results included a hit of 21 metres grading 9.29 grams gold. East Asia’s share price gained 71¢ over the week to close at $3.88.
The Peruvian government, nervous about a planned protest near Dorato Resources’ Cordillera del Condor project, unexpectedly suspended the junior’s drilling licence. The nascent program at Cordillera is the first drill program in the region, which is in northern Peru along the Ecuadorian border, as a security zone stemming from the Peru-Ecuador conflict stymied earlier exploration. In mid-2009 a protest, 250 km to the south, left 12 people dead when police opened fire on protesters. Dorato says the suspension is illegal and is confident its permit will be reinstated. The company’s share price lost 20¢ to close at 65¢.
| TSX-V most active issues | |||||
| VOLUME | WEEK | ||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | |
| Medoro Res MRS | 19484 | 0.77 | 0.54 | 0.66 | + 0.12 |
| Fission Energy FIS | 14743 | 1.07 | 0.51 | 0.93 | + 0.45 |
| Western Potash WPX | 10523 | 0.68 | 0.47 | 0.56 | + 0.08 |
| Iberian Mnls IZN | 9497 | 0.53 | 0.50 | 0.52 | 0.00 |
| Arctic Star Di ADD | 9478 | 0.09 | 0.07 | 0.07 | 0.00 |
| United Reef URP | 9442 | 0.08 | 0.05 | 0.05 | -0.01 |
| Victoria Gold VIT | 8544 | 1.10 | 0.96 | 1.03 | + 0.05 |
| MacDonald Mns BMK | 8303 | 0.29 | 0.22 | 0.23 | -0.03 |
| IBC Adv Alloys IB | 7442 | 0.26 | 0.19 | 0.22 | -0.02 |
| RomarcoMnrls R | 7133 | 1.75 | 1.61 | 1.68 | + 0.10 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Fission Energy | FIS | 14743 | 1.07 | 0.51 | 0.93 | + 93.7 |
| Santa Fe Metls | SFM | 212 | 0.10 | 0.09 | 0.10 | + 66.6 |
| Champion Minls | CHM | 1165 | 1.45 | 0.94 | 1.45 | + 64.7 |
| Supreme Res | SPR | 385 | 0.09 | 0.06 | 0.08 | + 60.0 |
| Rome Res | RMR | 49 | 0.50 | 0.36 | 0.49 | + 58.0 |
| Radisson Mng | RDS | 794 | 0.14 | 0.10 | 0.14 | + 55.5 |
| Logan Res | LGR | 633 | 0.06 | 0.05 | 0.06 | + 50.0 |
| MPH Vent | MPS | 2428 | 0.12 | 0.08 | 0.12 | + 50.0 |
| Universal Powr | UNX | 6101 | 2.18 | 1.32 | 2.02 | + 48.5 |
| NewShoshoniV | NSV | 565 | 0.19 | 0.13 | 0.19 | + 46.1 |
| Typhoon Expl | TYP | 122 | 0.19 | 0.16 | 0.19 | -90.0 |
| Bolero Res | BRU | 406 | 0.41 | 0.25 | 0.25 | -45.6 |
| Pac Coast Nikl | NKL | 125 | 0.05 | 0.05 | 0.05 | -37.5 |
| Rock Tech Res | RCK | 545 | 0.19 | 0.13 | 0.13 | -31.5 |
| Ruby Red Res | RRX | 36 | 0.08 | 0.06 | 0.07 | -30.0 |
| Pro Minerals | PRM | 832 | 0.13 | 0.07 | 0.07 | -30.0 |
| Crescent Res | CRC | 4267 | 0.12 | 0.10 | 0.10 | -28.5 |
| Nitinat Mnls | NZZ | 524 | 0.25 | 0.18 | 0.20 | -28.5 |
| Randsburg Intl | RGZ | 20 | 0.08 | 0.08 | 0.08 | -27.2 |
| Troymet Expl | TYE | 1855 | 0.09 | 0.05 | 0.08 | -27.2 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Clifton Star | CFO | 1120779 | 7.15 | + 1.20 |
| Chesapeake Gld | CKG | 127880 | 9.85 | + 1.13 |
| East Asia Mnls | EAS | 2130622 | 3.88 | + 0.71 |
| Universal Powr | UNX | 6100754 | 2.02 | + 0.66 |
| Champion Minls | CHM | 1165325 | 1.45 | + 0.57 |
| Maudore Minls | MAO | 146685 | 4.16 | + 0.52 |
| Fission Energy | FIS | 14742664 | 0.93 | + 0.45 |
| Amazon Mng | AMZ | 728290 | 2.42 | + 0.43 |
| RareElemntRs | RES | 558928 | 3.74 | + 0.38 |
| Quest Uranium | QUC | 748916 | 2.94 | + 0.32 |
| Typhoon Expl | TYP | 121700 | 0.19 | -1.71 |
| Mirasol Res | MRZ | 598723 | 2.62 | -0.25 |
| Bolero Res | BRU | 405650 | 0.25 | -0.21 |
| Dorato Res | DRI | 4795866 | 0.65 | -0.20 |
| Metalex Vent | MTX | 307940 | 0.62 | -0.16 |
| Hana Mng | HMG | 1154942 | 1.55 | -0.12 |
| Merit Mng | MEM | 16369 | 0.55 | -0.12 |
| Solid Res | SRW | 849823 | 0.38 | -0.11 |
| Avino Silver | ASM | 94334 | 0.68 | -0.11 |
| Contintl Mnls | KMK | 985119 | 1.99 | -0.11 |
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