TSX Venture rises, Nov. 23-Nov. 27

The S&P/TSX Venture Exchange advanced 5.51% or 0.74% to 749.20 during the Nov. 23-27 trading week. Spot gold fell US$67.30 per oz. or 3.62% to US$1,787.70 per ounce.

Great Bear Resources posted the biggest gain of the trading week, rising $2.04 to $17.68 per share. The company reported drill results from its fully-funded $21 million exploration program at its 100%-owned Dixie project, about 25 km southwest of Red Lake, Ontario. The latest results are from holes spaced 40-150 metres apart in previously undrilled gaps and step-outs on a 4,200 metre by 500 metre drill grid on the LP zone. Highlights included drill hole BR-212, which intersected 101.5 metres grading 4.69 grams gold per tonne starting from 92 metres, including 5.25 metres grading 41.25 grams gold from 131 metres. Hole BR-212 returned the highest-grade central mineralised interval of 0.5 metres grading 181 grams gold from 133.75 metres and is the longest multi-gram gold interval on the project to date, the company said.

Whitehorse Gold commenced trading on the TSX Venture Exchange on Nov. 25 and finished the trading week at $1.50 per share, up 80¢. It has about 42.66 million common shares outstanding. The company was recently spun out from New Pacific Metals Corp. and closed a $6.79 million non-brokered private placement of common shares. The Yukon-focused junior wholly owns the past-producing Skukum gold project, about 55 km south of Whitehorse. Exploration will focus on three gold deposits: Skukum Creek, Goddell and Mt. Skukum, which the company says all remain open, as well as other underexplored gold zones on the property. Whitehorse Gold says the project contains 274,544 oz. of gold and 5.36 million oz. of silver in the indicated category and 223,873 oz. gold and 1.91 million oz. silver in the inferred category.

Shares of K92 Mining climbed 55¢ to $7.30. The company reported positive results from a bulk sample from the Judd Vein at its Kainantu gold mine in Papua New Guinea. The underground bulk sample returned a head grade of 5.19 grams gold per tonne, 0.82% copper and 10.9 grams silver per tonne (6.50 grams gold equivalent per tonne) compared to the projected average bulk sample diluted grade of 4.4 grams gold, 0.7% copper and 10.6 grams silver (5.57 grams gold-equivalent) from underground development channel sampling. The treatment of the 4,256 tonnes sample via flotation also delivered recoveries of 88.8% for gold, 97.5% for copper and 88.2% for silver, similar to the Kora deposit at the Kainantu mine. In addition, K92 said it has extended underground development by an additional 114 metres along the Judd 1235 Level J1 Vein. The Kainantu property covers a total area of about 725 sq. km. and was previously mined by Highlands Pacific and Barrick Gold from 2006-2009. K92 declared commercial production at Kainantu in February 2018.


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