Gold Junior Jumps on Drill Results

Gold Standard Ventures Corp. (CVE:GSV), a gold junior, surged after announcing assay results from its Railroad-Pinion Project in Nevada

Sean Mason | August 9, 2016 | SmallCapPower

Some gold junior speculators took a shine to Nevada drill results Tuesday. Here’s some small stocks making big moves on Tuesday, August 9, 2016 (as of 4 pm EST):

Gold Standard Ventures Corp. (CVE:GSV) shares shot up 31% to $2.52 on Tuesday after the gold junior announced assay results from the first three step out core holes at the North Dark Star oxide gold deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada, which included a 126.2 meter section grading 3.95 g/t gold.

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As well, shares of Galway Gold Inc. (CVE:GLW) slid 14% to $0.095 as the explorer said it is proposing to consolidate its common shares on a 1-for-5 basis.

Thunderstruck Resources Ltd. (CVE:AWE), meanwhile, reported that it has entered into an agreement to acquire the portfolio of base metal and gold properties in Fiji it had previously had under option. Thunderstruck Resources stock moved up 38% to $0.11 following the announcement.

Finally, Noront Resources Ltd. (CVE:NOT) shares powered 33% higher to $0.46 after the mineral exploration company announced an agreement with MacDonald Mines Exploration Ltd. to acquire a 75% interest in all of MacDonald’s properties in the Ring of Fire district of northern Ontario in exchange for $750,000 of Noront common stock.

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