Resource Junior Jumps on Silver Exploration Update

Callinex Mines Inc. (TSXV:CNX), a resource junior, powered up after announcing plans to begin soil sampling at its Nash Creek Project

Sean Mason | July 23, 2020 | SmallCapPower

A soil sampling initiative sparked shares of a resource junior Thursday following stellar silver results. Here’s some small stocks making big moves on Thursday, July 23, 2020 (as of 4 pm EST):

Callinex Mines Inc. (TSXV:CNX) shares surged 9% to $3.17 on Thursday after the resource junior announced that it plans to begin a soil sampling campaign at its 100% owned Nash Creek Project in New Brunswick, between two recently announced near surface silver discoveries, following recent drill results that included 28.6 metres of 57 grams per tonne (g/t) silver.

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As well, shares of Enduro Metals Corporation (TSXV:ENDR) climbed 14% $0.285 as the junior explorer said Rob McEwen has agreed to invest up to $2 million into the Company via a non-brokered private placement at a price of $0.25 per unit.

Kelt Exploration Ltd. (TSX:KEL), meanwhile, reported that it has agreed to sell its Inga/Fireweed/Stoddart assets in British Columbia to ConocoPhillips for $510.0 million in cash. Kelt Exploration stock moved up 9% to $1.97 following the announcement.

Finally, Northern Shield Resources Inc. (TSXV:NRN) shares rose 32% to $0.125 after the junior explorer announced that it has intersected large epithermal veins at the Shot Rock Property in Nova Scotia.

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

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