Silver Junior Jumps on Exploration Update

Silver Tiger Metals Inc. (TSXV:SLVR), a silver junior, continued to gain ground after announcing a sampling program update from its El Tigre Silver Project

Sean Mason | July 10, 2020 | SmallCapPower

Channel sampling exploration had a few speculators digging shares of a silver junior Friday. Here’s some small stocks making big moves on Friday, July 10, 2020 (as of 4 pm EST):

Silver Tiger Metals Inc. (TSXV:SLVR) shares continued to move higher on Friday, up 40% to $0.37 following an 8% gain on Thursday, after the silver junior announced that it has completed the first two weeks of the summer 2020 channel sampling program at its wholly-owned El Tigre Silver Project in Mexico. The Company said the El Tigre Mine is reported to have produced 67.4 million ounces of silver and 353,000 ounces of gold during the period 1903 to 1938, with reported average production grades of 1,308 grams per tonne (g/t) silver and 7.54 g/t gold.

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As well, shares of Intermap Technologies Corporation (TSX:IMP) surged 62% to $0.86 as the provider of geospatial intelligence solutions said it has sold five multi-year subscriptions for InsitePro, its insurance flood underwriting software. In addition, the Company has signed a distribution agreement for NEXTMap One in Latin America.

Facedrive Inc. (TSXV:FD), meanwhile, reported that it has closed the transaction to acquire certain assets of foodora Inc. The Company calls itself Canada’s first peer-to-peer, eco-friendly and socially responsible ridesharing network. Facedrive stock moved up 17% to $24.92 following the announcement.

Finally, American Lithium Corp. (TSXV:LI) shares gained 38% to $2.35 after the lithium explorer announced that it has agreed to buy back 1.5% of the existing gross overriding royalty pertaining to its wholly-owned TLC Lithium Claystone property in Nevada. The Company has also acquired the rights to a series of lode mining claims totaling approximately 2,000 acres contiguous to and north and northwest of the TLC property.

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

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