Resource Junior Powers Higher on Gold Results

Erdene Resource Development Corporation (TSX:ERD), a resource junior, jumped after announcing drilling results from its Bayan Khundii Gold Project

Sean Mason | July 7, 2020 | SmallCapPower

Asian gold drill results sparked buying interest in shares of a resource junior Tuesday. Here’s some small stocks making big moves on Tuesday, July 7, 2020 (as of 4 pm EST):

Erdene Resource Development Corporation (TSX:ERD) shares surged 17% to $0.51 on Tuesday after the resource junior announced drilling results from the Midfield Southeast zone of its 100%-owned Bayan Khundii Gold Project in Mongolia, which included 15 metres of 25.6 grams per tonne (g/t) gold.

Win Big With Our Small Cap Picks

 

As well, shares of Gatekeeper Systems Inc. (TSXV:GSI) rose 8% to $0.56 as the provider of video solutions designed to provide a safer transportation environment for children, passengers, and public safety personnel on multiple transportation modes revealed record Q3 2020 revenue and net income of $5.65 million and $1.3 million, respectively.

Pure Gold Mining Inc. (TSXV:PGM), meanwhile, reported results from underground exploration drilling, initiated in June, at its 100% owned PureGold Red Lake Mine in Red Lake, Ontario, which included 46.7 g/t gold over 7.0 metres. Pure Gold Mining stock moved up 12% to $1.94 following the announcement.

Finally, GT Gold Corp. (TSXV:GTT) shares sank 26% to $1.59 after the gold junior announced a maiden Mineral Resource Estimate for the Saddle North project in British Columbia, which showed an Indicated Resource of 298 Mt grading 0.28% copper, 0.36 g/t gold and 0.8 g/t silver for a total of 1.81 million pounds of copper, 3.47 million ounces of gold and 7.58 million ounces of silver.

See more Small and Micro Cap Market Movers Daily from Sean Mason. Tomorrow’s big stock market winners could be found here today!

Hi, did you know SmallCapPower accepts blog submissions? You can contact me here

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

To read our full disclosure, please click on the button below: