Wolfden Resources Corporation (CVE:WLF), a base metals junior, climbed after agreeing to acquire a Pickett Mountain property for US$8.5 million in cash
Sean Mason | September 19, 2017 | SmallCapPower
A potential high-grade VMS deposit could be significant for the stock price of a base metals junior Tuesday. Here’s some small stocks making big moves on Tuesday, September 19, 2017 (as of 4 pm EST):
Wolfden Resources Corporation (TSXV: WLF) shares jumped 38% to $0.255 on Tuesday after the base metals junior announced that it has entered into a purchase and sale agreement to acquire a 100% interest in a Pickett Mountain property located in northern Maine for US$8.5 million in cash. Wolfden Resources considers the zinc/copper/silver deposit to be one of the highest-grade undeveloped volcanogenic massive sulphide deposits (VMS) in North America.
As well, shares of Aben Resources Ltd. (TSXV: ABN) slipped 10% to $0.38 as the gold explorer said it has now completed nine holes and 2,445 metres of its expanded 1st Phase drill program. The Company added that assays are pending and are expected to start being received by the Company and continue through to the end of October.
Electrovaya Inc. (TSX: EFL), meanwhile, reported that it has secured initial purchase orders under a contract with Walmart Canada for its forklift battery systems. The purchase orders are worth approximately C$4.3 million and deliveries are to be made by the first quarter of calendar year 2018. Electrovaya stock popped 13% to $1.40 following the announcement.
Finally, Advantage Lithium Corp. (TSXV: AAL) shares slipped 19% to $0.52 after the lithium junior announced initial results from the first set of composite brine samples from Hole CAU10 at its Cauchari JV drilling program in Argentina, which returned an average lithium grade of 678 milligrams per liter (mg/l) with sample results ranging from 585 to 724 mg/l lithium2.
Related: Advantage Lithium Has a ‘Winning’ Edge Over Most Lithium Juniors
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