Junior Explorer Soars on Gold Drill Results

Azimut Exploration Inc. (TSXV:AZM), a junior explorer, powered higher after announcing results from its Elmer Property in Quebec

Sean Mason | January 14, 2020 | SmallCapPower

More than a few speculators took a shine to Quebec gold results from a junior explorer Tuesday. Here’s some small stocks making big moves on Tuesday, January 14, 2020 (as of 4 pm EST):

Azimut Exploration Inc. (TSXV:AZM) shares surged 200% to $1.50 on Tuesday after the junior explorer announced the discovery of what it called substantial gold mineralization in multiple drill hole intersections of its maiden diamond drilling program on the 100% owned Elmer Property in Quebec, which included 3.15 grams per tonne (g/t) gold over 102.0 metres.

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As well, shares of Compass Gold Corp. (TSXV:CVB) slid 41% to $0.325 as the gold explorer provided an update on the latest exploration work at the Boumban Central and Farabakoura prospect areas on the Company’s Sikasso Property in Mali, in which the best interval was 3 metres of 1.33 g/t gold within 10 metres of 0.57 g/t gold.

Skeena Resources Limited (TSXV:SKE), meanwhile, reported additional gold-silver drill results from the 2019 Phase I surface drilling program at the Eskay Creek Project in the Golden Triangle area of British Columbia, which included 14.73 g/t gold equivalent over 36.85 metres. Skeena Resources stock moved up 12% to $0.87 following the announcement.

Finally, Roxgold Inc. (TSX:ROXG) shares slipped 8% to $0.87 after the junior gold miner announced that it expects gold production of 120,000 to 130,000 ounces in 2020, with no increases anticipated in 2021 or 2022.

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

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