Gold Explorer Shines on Drill Results

Caldas Gold Corp. (TSXV:CGC), a gold explorer, rose after announcing drill results from its Marmato Project

Sean Mason | March 2, 2020 | SmallCapPower

Colombia drill results lifted shares of a gold explorer Monday. Here’s some small stocks making big moves on Monday, March 2, 2020 (as of 11:30 am EST):

Caldas Gold Corp. (TSXV:CGC) shares climbed 22% to $2.20 on Monday after the gold explorer announced drill results from its Marmato Project in Colombia, which included 87.15 meters of 3.9 grams per tonne (g/t) gold and 1.7 g/t silver. The Company added that drill hole MT-IU-053A was successful in extending the recently-discovered New Zone down-plunge by more than 200 meters.

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As well, shares of Balmoral Resources Ltd. (TSX:BAR) surged 52% to $0.47 as the gold junior said it has agreed to be acquired by Wallbridge Mining Company Limited (TSX:WM) in an all-stock transaction valued at approximately C$110 million. Balmoral shareholders will receive 0.71 of a Wallbridge share for each Balmoral common share held.

Read: Wallbridge Mining to Buy Balmoral Resources

Talon Metals Corp. (TSX:TLO), meanwhile, reported the first drill results from its winter 2020 exploration program at the Tamarack Nickel-Copper-Cobalt project in Minnesota, which included 11.36 meters grading 7.1% nickel, 2.98% copper, 0.14% cobalt, 0.49 g/t palladium, 0.62 g/t platinum and 0.16 g/t gold, or 8.67% nickel equivalent. Talon Metals stock moved up 20% to $0.12 following the announcement.

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Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.

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