Red Lake drill results had a few speculators in a gold junior seeing ‘green’ Wednesday. Here’s some small stocks making big moves on Wednesday, August 22, 2018 (as of 4 pm EST):
Great Bear Resources (TSXV:GBR) shares powered 64% higher to $1.18 on Wednesday after the gold junior announced drill results from the Hinge Zone at its Dixie Project in the Red Lake District of Ontario, which included 16.35 metres of 26.91 g/t gold.
As well, shares of Avalon Advanced Materials Inc. (TSX:AVL) gained 43% to $0.10 as the resource junior said it has completed an updated Preliminary Economic Assessment (PEA) for the Separation Rapids Lithium Project near Kenora, Ontario, which estimates average annual revenue at C$90 million versus average annual costs of C$60 million, resulting in a pre-tax Net Present Value (at 8% discount rate) of C$156 million and a pre-tax Internal Rate of Return of 27.1%.
Osprey Gold Development Ltd. (TSXV:OS), meanwhile, reported initial channel sampling results from its ongoing exploration program at the Caribou Gold Project in Nova Scotia, which included 8.0 meters of 1.2 g/t gold from trench 18ELK-01. Osprey Gold stock moved up 10% to $0.055 following the announcement.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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Great Bear Resources (TSXV:GBR) shares powered 64% higher to $1.18 on Wednesday after the gold junior announced drill results from the Hinge Zone at its Dixie Project in the Red Lake District of Ontario, which included 16.35 metres of 26.91 g/t gold.
