Resource Junior Surges on Assay Results

Wallbridge Mining Company Limited (TSX:WM), a resource junior, powered higher after announcing assay results from its Fenelon Gold Property

Sean Mason | October 22, 2019 | SmallCapPower

Quebec drill results caught the attention of a few resource junior investors Tuesday. Here’s some small stocks making big moves on Tuesday, October 22, 2019 (as of 11:30 am EST):

Wallbridge Mining Company Limited (TSX:WM) shares jumped 15% to $0.43 on Tuesday after the resource junior announced assay results from the ongoing 70-80,000-metre 2019 drill program at its 100%-owned Fenelon Gold Property in Quebec, which included 27.00 grams per tonne (g/t) gold over 38.39 metres.

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As well, shares of MacDonald Mines Exploration Ltd. (TSXV:BMK) sank 28% to $0.105 as the gold explorer released results from the fifth hole of the on-going exploration program at its SPJ Property in northern Ontario, which included 21.66 g/t gold over 1.64 metres.

Vanstar Mining Resources Inc. (TSXV:VSR), meanwhile, reported that its partner, IAMGOLD Corporation, has announced an initial mineral resource estimate on its Nelligan Joint Venture Project in Quebec, which shows an Inferred Resource totaling 96,990,000 tonnes averaging 1.02 g/t gold for 3,193,900 ounces of contained gold. Vanstar Mining Resources has a 49% stake in the Project. Vanstar Mining stock moved up 8% to $0.325 following the announcement.

Finally, Venzee Technologies Inc. (TSXV:VENZ) shares rose 40% to $0.035 after the company, which operates as a Software as a Service (SaaS) platform, announced the addition of two additional revenue-generating Fortune 1000 manufacturing clients based in the United States, acquired through Venzee’s previously-announced partner engagement sales model.

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

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