Junior Explorer Soars on Discovery Update

Garibaldi Resources (CVE:GGI), a junior explorer, climbed after announcing that its ongoing drill program has revealed a much larger scale mineralizing event than previously suspected

Sean Mason | October 13, 2017 | SmallCapPower

Promising news from a potentially significant discovery powered shares of a junior explorer Friday. Here’s some small stocks making big moves on Friday, October 13, 2017 (as of 4 pm EST):

Garibaldi Resources (TSXV:GGI) shares surged 33% to $3.57 on Friday after the junior explorer announced that all 11 additional holes completed as part of the ongoing drill program at its 100%-owned Nickel Mountain Project in British Columbia have returned broad sections of disseminated to blebby net textured sulphides (pyrrhotite-pentlandite-chalcopyrite), hosted in olivine gabbro, consistent with a much larger scale mineralizing event than ever previously suspected.

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As well, shares of SSR Mining Inc. (TSX:SSRM) slipped 8% to $12.93 as the precious metals miner said its Marigold mine produced 38,699 ounces of gold in the third quarter, 30.3% less than the previous quarter due to continued lower grades of ore stacked.

Prometic Life Sciences Inc. (TSX:PLI), meanwhile, reported that the U.S Food and Drug Administration (FDA) has accepted its Biologics License Application for its plasminogen replacement therapy. Prometic Life Sciences stock moved up 5% to $1.64 following the announcement.

Finally, MX Gold Corp. (TSXV:MXL) shares rose 21% to $0.20 after the explorer announced that it has entered into a letter of intent to acquire all of the shares of Symple Internet Financial Ltd., a private British Columbia cryptocurrency/blockchain mining company based in Manitoba.

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Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own shares in any of the companies mentioned above.

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