Resource Junior Jumps on Gold Drill Results

Erdene Resource Development Corp. (TSX:ERD), a resource junior, moved up after announcing results from its licenses in Mongolia

Sean Mason | February 4, 2020 | SmallCapPower

Gold drill results from Asia generated buying interest in shares of a resource junior Tuesday. Here’s some small stocks making big moves on Tuesday, February 4, 2020 (as of 4 pm EST):

Erdene Resource Development Corp. (TSX:ERD) shares climbed 20% to $0.27 on Tuesday after the resource junior announced results from the Q4-2019 exploration program on its Altan Nar, Khundii and Ulaan licenses in Mongolia, which included 23 metres grading 17 grams per tonne (g/t) gold.

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As well, shares of Valeura Energy Inc. (TSX:VLE) slid 20% to $0.37 as the upstream natural gas producer said its joint venture partner Equinor intends to discontinue participation in the deep gas appraisal program in Turkey’s Thrace Basin.

Great Thunder Gold Corp. (TSXV:GTG), meanwhile, reported that it has optioned  the Northbound gold property, which is contiguous to northwest of the Wallbridge Mining Company’s Fenelon Gold Deposit in Quebec. Great Thunder Gold stock moved up 57% to $0.275 following the announcement.

Finally, Gaia Metals Corp. (TSXV:GMC) shares rose 20% to $0.09 after the junior explorer announced that its Corvette-FCI Property in Quebec has “strong potential” for platinum group element mineralization, which it determined as a result of ongoing compilation of historical data.

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

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