Arctic Star Exploration Corp. (TSXV: ADD), a junior
precious metals miner, experienced strong upward share price momentum after
climbing more than 10%, touching a new intraday high during each of the past
two consecutive trading days with a significant number of shares exchanging
hands. In the last trading session, ADD was among the top gainers in the Canadian diversified mining sector after gaining 8.3% and closed yesterday at its 52-week high of C$0.20 while recording huge volumes of 481,599 shares. During the last 5-trading sessions, ADD gained 39.3% with 5-day average trading volumes of 421,700 shares, while the stock accumulated over 62% during the past one month with daily average trading volumes of 185,693 shares. ADD has surged over 77% year-to-date.
Recently, ADD announced to commence a diamond drilling program with its partner North Arrow Minerals Inc. (TSXV: NAR) at the Redemption Diamond Project in the Northwest Territories. The property is located in the Lac de Gras region, approximately 32 km southwest of, and 47 km west of the Ekati and Diavik diamond mines, respectively. Mobilization is underway for the 1,000 meter drilling program, which is intended to test six to eight priority drill targets located in the central part of the property. North Arrow is exploring the Redemption property under an option agreement with ADD, under which it can earn a 55% interest by incurring $5 million in exploration expenditures prior to July 1, 2017.
Company Description:
Arctic Star Exploration Corp. (TSXV: ADD) is a mineral exploration company. The company explores for diamonds and base metal in Canada.
1-Year Stock Chart:
Source: Bloomberg
