Silver Junior Shines on Discovery, Drill Results

SilverCrest Metals Inc. (TSX:SIL), a silver junior, jumped after announcing drill results from the Las Chispas Project

Sean Mason | February 18, 2020 | SmallCapPower

A new high-grade discovery attracted more than a few speculators to shares of a silver junior Tuesday. Here’s some small stocks making big moves on Tuesday, February 18, 2020 (as of 4 pm EST):

SilverCrest Metals Inc. (TSX:SIL) shares surged 13% to $9.90 on Tuesday after the silver junior announced a new discovery and additional drill results from the Babicanora Norte Vein on the Las Chispas Project in Mexico, which included 2.0 metres (true width) grading 6,418 grams per tonne (g/t) silver equivalent.

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As well, shares of Electrovaya Inc. (TSX:EFL) slipped 10% to $0.225 as the lithium-ion battery manufacturer revealed that its fiscal first-quarter revenue fell to US$0.9 million from US$2.0 million during the same period last year.

Tanzanian Gold Corporation (TSX:TNX), meanwhile, reported that it has identified 4,291,000 ounces of gold contained in unclassified resources at the conclusion of its Phases 1 & 2 Resource Upgrade drilling along the Buckreef Shear Zone at the Buckreef Project in Tanzania. Tanzanian Gold stock moved up 17% to $0.77 following the announcement.

Finally, Eclipse Gold Mining Corporation (TSXV:EGLD) shares began trading on the TSX Venture Exchange on Tuesday. Eclipse Gold Mining is exploring the Hercules Gold Property located within Nevada’s Walker Lane Trend.

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

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