Gold Junior Glisters on Property Option

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Sanatana Resources Inc. (TSXV: STA), a gold junior, moved higher after announcing an option to acquire the Jackfish gold property

Sean Mason | February 8, 2017 | SmallCapPower

Many speculators gravitated towards a new gold junior on the block Wednesday. Here’s some small stocks making big moves on Wednesday, February 8, 2017 (as of 4 pm EST):

Sanatana Resources Inc. (TSXV: STA) shares jumped 57% to $0.055 on Wednesday, following a 40% gain Tuesday, after the gold junior announced that it has entered into three option agreements to acquire a 100% contiguous interest in the 3,664 hectare Jackfish gold property in northern Ontario. Recent grab samples returned assay results with an average grade of 7.58 g/t gold and as high as 44 g/t gold.

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As well, shares of Power Metals Corp. (TSXV: PWM) climbed 8% to $0.36 as the explorer said it has confirmed lithium grades of up to 3.24% at its Case Lake lithium project in Ontario.

Edgewater Wireless Systems Inc. (TSXV: YFI), meanwhile, reported that its WiFi3 technology has been rigorously tested by Kyrio and proven to effectively solve real world High Density WiFi deployment challenges, according to Edgewater. Edgewater Wireless stock popped 25% to $0.30 following the announcement.

In addition, shares of Tango Mining Limited (TSXV: TGV) shot up 114% to $0.075 as the junior miner said it recovered a total of 62.17 carats at an average value of US$3,780 per carat, including a stone of 36.34 carats, at the Oena Diamond Mine in South Africa.

Finally, Questerre Energy Corporation (TSX: QEC) shares powered 36% higher to $0.98 as the energy explorer announced an updated resource assessment of its Utica acreage in the St. Lawrence Lowlands region of Quebec, which showed a best estimate of 5.8 Tcf (965 million barrels of oil equivalent), a 30% increase over the 2010 year-end assessment.

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