A Red Lake property update sparked speculation in shares of a junior explorer Wednesday. Here’s some small stocks making big moves on Wednesday, December 18, 2019 (as of 4 pm EST):
GoldON Resources Ltd. (TSXV:GLD) shares shot up 13% to $0.96 on Wednesday after the junior explorer provided an overview of its Bruce Lake property in Ontario’s Red Lake Mining District, saying that geologically Bruce Lake, which adjoins BTU Metals’ Dixie Halo property, appears to host the same lithologies encountered in the drill program ongoing by BTU.
As well, shares of Palladium One Mining Inc. (TSXV:PDM) climbed 22% to $0.11 as the palladium explorer said its palladium-dominant LK PGE-Ni-Cu project in Finland has had seven of eight exploration permit renewal applications approved by the Finnish Mining Authority. The Company added that during the first half of 2020 it plans to conduct a 75 line-kilometer Induced Polarization geophysical program along with a diamond drilling program of up to 5,000 meters at the LK Project.
Skeena Resources Limited (TSXV:SKE), meanwhile, reported initial analytical results from the recently-completed Phase I surface exploration drilling program at its 100% owned Snip gold project in British Columbia’s Golden Triangle, which included 1,131.91 g/t gold over 1.50 metres. Skeena Resources stock moved up 3% to $0.63 following the announcement.
Finally, Indiva Limited (TSXV:NDVA) shares rose 6% to $0.28 after the Canadian cannabis company announced that its wholly-owned subsidiary, Indiva Inc., has completed its first shipment of cannabis to Saskatchewan.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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GoldON Resources Ltd. (TSXV:GLD) shares shot up 13% to $0.96 on Wednesday after the junior explorer provided an overview of its Bruce Lake property in Ontario’s Red Lake Mining District, saying that geologically Bruce Lake, which adjoins BTU Metals’ Dixie Halo property, appears to host the same lithologies encountered in the drill program ongoing by BTU.
