Gold Explorer Glisters on Drill Results

Cache Exploration Inc. (CVE:CAY), a gold explorer, moved higher after reporting partial assay results from its Kiyuk Lake Gold project

Sean Mason | September 6, 2017 | SmallCapPower

Partial assay results continued to propel shares of a gold explorer Wednesday. Here’s some small stocks making big moves on Wednesday, September 6, 2017 (as of 4 pm EST):

Cache Exploration Inc. (TSXV: CAY) shares jumped as much as 23% before ending unchanged at $0.13 on Wednesday after the gold explorer announced that partial assay results have been received for the first hole of the ongoing summer drill program at its Kiyuk Lake Gold project in Nunavut, which included 26.4 g/t gold over 8 metres.

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As well, shares of Harte Gold Corp. (TSX: HRT) slipped 3% to $0.63 as the gold junior provided infill drilling results from its 100% owned Sugar Zone Project in northern Ontario, which included 13.68 g/t over 7.02 meters.

Urban Communications Inc. (TSXV: UBN), meanwhile, reported that it has agreed to be acquired by ACME Communications Canada, Inc. for C$0.07 per share in cash, or an enterprise value of C$15.6 million. Urban Communications stock moved up 8% to $0.065 following the announcement.

In addition, shares of Mission Ready Services Inc. (TSXV: MRS) soared 191% to $0.16 as the provider of protective equipment for military personnel and first responders said it has signed a five-year, multi-million dollar exclusive distribution agreement with a U.S.-based contracting partner to manufacture and supply Flex9Armor and No-Contact Tactical Shield Covers for a large foreign military. The Agreement includes annual minimum purchase volumes: US$50 million for 2017 through December 31, 2018, which must be met in order for certain Distributor provisions to remain in effect, including regional exclusivity and an automatic renewal of the contract in 2022 for an additional five-year term.

Finally, Grande Portage Resources Ltd. (TSXV: GPG) shares rose 18% to $0.30 after the junior explorer announced that it has drilled approximately 2700 meters of its planned 3700 meter summer exploration program on its Herbert Gold project in Alaska. The Company added that grab samples obtained over a four-foot width of the exposed Goat vein assayed at 231 g/t gold and 49.8 g/t silver.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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