Gold Explorer Surges on New Discovery

Great Bear Resources Ltd. (TSXV:GBR), a gold explorer, jumped after announcing a new gold discovery at its Dixie Project

Sean Mason | May 29, 2019 | SmallCapPower

A “significant” new discovery sparked much speculation in shares of a gold explorer Wednesday. Here’s some small stocks making big moves on Wednesday, May 29, 2019 (as of 4 pm EST):

Great Bear Resources Ltd. (TSXV:GBR) shares continued to power higher Wednesday, up 9% to $3.85 following a 20% gain on Tuesday, after the gold explorer announced what it called a “significant new high-grade gold discovery” at its 100% owned Dixie Project in the Red Lake District of Ontario, which included 12.33 g/t gold over 14.00 metres.

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As well, shares of QMX Gold Corporation (TSXV:QMX) rose 22% to $0.055 after the gold junior announced the final results from its winter drilling campaign on its Bonnefond target in Val d’Or, Quebec, which included 5.85 g/t gold over 6.7 metres.

Ucore Rare Metals Inc. (TSXV:UCU), meanwhile, reported that the Third District Court, Salt Lake Division, Salt Lake County, State of Utah has granted a motion submitted by Ucore to dismiss the January 4, 2019, Complaint filed by IBC Advanced Technologies against Ucore and some of its executives. Ucore Rare Metals stock moved up 48% to $0.23 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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