Gold Explorer Shines on Exploration Update

Omineca Mining and Metals Ltd. (TSXV:OMM), a gold explorer, gained ground after announcing an agreement to commence a bulk sample program at its Wingdam project

Sean Mason | March 4, 2019 | SmallCapPower

A pending British Columbia bulk sample program boosted shares of a gold explorer Monday. Here’s some small stocks making big moves on Monday, March 4, 2019 (as of 4 pm EST):

Omineca Mining and Metals Ltd. (TSXV:OMM) shares continued to move higher Monday, up 71% to $0.06 following a 40% gain on Friday, after the gold explorer said it has executed a binding letter agreement with an arms-length private company to commence a bulk sample program at Omineca’s Wingdam gold project in British Columbia. The private company will incur 100% of the costs associated with the preparation work required to commence operations in exchange a 50% interest in the Wingdam project.

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As well, shares of Star Diamond Corporation (TSX:DIAM) rose 16% to $0.25 as the junior explorer said it believes the presence of a significant proportion of Type IIa diamonds in the Star and Orion South Kimberlites in Saskatchewan greatly increases the potential for the recovery of large (plus 100 carat), high-value diamonds.

Aston Bay Holdings Ltd. (TSXV:BAY), meanwhile, reported the signing of an Exploration and Option to Lease agreement with an independent land and timber company in Buckingham County, Virginia, for a key parcel of land that contains a recent gold discovery located adjacent to the past producing Gold – Pyrite Belt of Central Virginia. Aston Bay Holdings stock moved up 20% to $0.06 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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