Gold Explorer Soars on Drill Results

Sokoman Iron Corp. (TSXV:SIC), a gold explorer, jumped after announcing assay results from the Moosehead Project in Newfoundland

Sean Mason | November 16, 2018 | SmallCapPower

Assays from a gold explorer generated plenty of excitement Friday. Here’s some small stocks making big moves on Friday, November 16, 2018 (as of 4 pm EST):

Sokoman Iron Corp. (TSXV:SIC) shares surged 41% to $0.225 on Friday after the gold explorer announced that it has received assay results for five of seven holes completed to date in the Eastern Trend, part of the Phase 2 drilling on the Moosehead Project in Newfoundland, which included 24.90 metres grading 33.56 g/t gold.

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As well, shares of Katanga Mining Limited (TSX:KAT) climbed 22% to $0.56 as the copper and cobalt miner said the Democratic Republic of the Congo’s restriction temporarily preventing the Company’s 75% owned subsidiary Kamoto Copper Company SA from importing or exporting any material or production has been lifted and that imports and exports of material and production have resumed.

Vanstar Mining Resources Inc. (TSXV:VSR), meanwhile, reported that its partner IAMGOLD Corporation has released drill results from the Renard and 36 zones at the Nelligan gold project in Quebec, which included 82.6 metres grading 3.31 g/t gold. Vanstar Mining stock moved up 19% to $0.125 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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