Precious Metals Junior Jumps on Discovery Announcement

Benchmark Metals Inc. (TSXV:BNCH), a precious metals junior, powered higher after announcing the discovery of new mineralized structures

Sean Mason | August 27, 2020 | SmallCapPower

A new gold and silver discovery zone and pending drilling sparked a bit of speculation in shares of a precious metals junior Thursday. Here’s some small stocks making big moves on Thursday, August 27, 2020 (as of 4 pm EST):

Benchmark Metals Inc. (TSXV:BNCH) shares climbed 16% to $1.36 on Thursday after the precious metals junior announced the discovery of new mineralized structures, broad zones of alteration, veining, and sulphide mineralization at the Marmot Zone as part of its Lawyer’s Gold-Silver Project in British Columbia. The Company added that drilling will begin shortly.

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As well, shares of Echelon Financial Holdings Inc. (TSX:EFH) rose 9% to $6.25 as the property and casualty insurance provider said it has settled its outstanding litigation and will pay a special dividend of C$5.60 per share in cash to shareholders of record on September 4, 2020.

Vizsla Resources Corp. (TSXV:VZLA), meanwhile, reported a third new discovery at its Panuco silver-gold project in Mexico, with drill results that included 689.5 grams per tonne (g/t) silver and 3.76 g/t gold over 2.5 metres. Vizsla Resources stock moved up 5% to $1.85 following the announcement.

Finally, Therma Bright Inc. (TSXV:THRM) shares gained 6% to $0.18 after the medical device technology company announced that it has signed a co-development definitive agreement with Orpheus Medica Inc., which will allow Therma access to Orpheus’ biological platform and the joint development of a rapid saliva test for the screening and detection of COVID-19.

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

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