Gold Junior Soars on Drill Results

Aurion Resources Ltd. (TSXV:AU), a gold junior, jumped after announcing that it has intersected what it called “significant gold mineralization”

Sean Mason | September 20, 2018 | SmallCapPower

Potential significant gold mineralization sparked a bit of excitement over shares of a gold junior Thursday. Here’s some small stocks making big moves on Thursday, September 20, 2018 (as of 4 pm EST):

Aurion Resources Ltd. (TSXV:AU) shares surged 35% to $2.01 on Thursday after the gold junior announced that ongoing diamond drilling has intersected what it called “significant gold mineralization” associated with a major east-west trending north dipping structure immediately north of the main Aamurusko boulder field in Finland, with drill results that included 789.06 g/t gold over 2.90 metres.

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As well, shares of New Gold Inc. (TSX:NGD) fell 9% to $1.31 as the gold miner said it has agreed to sell its Mesquite Mine located in California to Equinox Gold Corp. for US$158 million in cash.

IntelGenx Corp. (TSXV:IGX), meanwhile, reported that it has executed a non-binding letter of intent with Tilray, Inc. (NASDAQ:TLRY) to co-develop and commercialize oral film products infused with recreational and medical cannabis. IntelGenx stock popped 114% to $2.35 following the announcement.

Finally, Leonovus Inc. (TSXV:LTV) shares jumped 16% to $0.215 after the company announced that it has signed a new contract with a major Canadian bank to install its software, a hyper-secure multi-cloud software-defined storage solution, in a production deployment.

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

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