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Gold Junior Glisters on Sample Results

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IDM Mining Ltd. (TSXV:IDM), a gold junior, moved up after announcing additional surface sampling results from its Red Mountain Gold Project

Sean Mason | July 24, 2018 | SmallCapPower

Golden Triangle samples generated a bit of speculation in a gold junior Tuesday. Here’s some small stocks making big moves on Tuesday, July 24, 2018 (as of 4 pm EST):

IDM Mining Ltd. (TSXV:IDM) shares rose 15% to $0.075 on Tuesday after the gold junior announced additional surface sampling results from trenching at the Money Rock zone within its 100%-owned Red Mountain Gold Project in the ‘Golden Triangle’ region of British Columbia, which averaged 9.81 g/t gold and 101.40 g/t silver over 51 meters of strike.

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As well, shares of ZincX Resources Corp. (TSXV:ZNX) fell 20% to $0.60 as the zinc explorer provided an update on drilling activities at its flagship Akie Property in British Columbia, saying the mineralization observed in the two holes from the Sitka showing differs from the SEDEX style laminated, stratabound mineralization known from the Cardiac Creek deposit and, at this time, there is no conclusive identification of the Sitka barite-sphalerite-galena vein/structure seen at surface.

LGC Capital Ltd. (TSXV:LG), meanwhile, reported that its partner Global Canna Labs Ltd. has now formally received its Tier 3 cultivation license from the Jamaican Cannabis Licensing Agency, which will allow the Company to cultivate organic medical cannabis at its 270,000 square feet facility within its 6.23 acres site in Montego Bay, Jamaica. GCL’s first harvest is expected in Q4 2018. LGC Capital stock moved up 4% to $0.13 following the announcement.

Finally, Sokoman Iron Corp. (TSXV:SIC) shares surged 130% to $0.115 after the junior explorer announced assay results from drilling completed recently at the Moosehead Gold Project in Newfoundland, which included 11.90 metres of 44.96 g/t gold.

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

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