Junior Explorer Climbs on Gold Discovery

Newrange Gold Corp. (CVE:NRG), a junior explorer, moved higher after saying it has discovered “multiple, previously unidentified, high-grade gold zones” at its Pamlico project in Nevada

Sean Mason | March 3, 2017 | SmallCapPower

The discovery of a potential high-grade gold zone brought buyers into a junior explorer Friday. Here’s some small stocks making big moves on Friday, March 3, 2017 (as of 4 pm EST):

Newrange Gold Corp. (TSXV: NRG) shares jumped 22% to $0.28 on Friday after the junior explorer announced that its initial program of diamond saw cut channel sampling in the Merritt decline has resulted in the discovery of what the Company called “multiple, previously unidentified, high-grade gold zones” that have never been drill tested or sampled at its Pamlico project in Nevada.

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As well, shares of Orex Exploration Inc. (TSXV: OX) fell 13% to $0.065 as the mineral exploration company said it has agreed to be acquired by Anaconda Mining in an all-stock transaction. Shareholders of Orex will receive 0.85 of a common share of Anaconda for each Orex share held.

Beaufield Resources Inc. (TSXV: BFD), meanwhile, reported that its President and CEO, Jens Hansen, has resigned effective immediately and will be replaced on an interim basis by Ronald Stewart. Beaufield Resources stock moved up 18% to $0.165 following the announcement.

Finally, Alset Energy Corp. (TSXV: ION) shares powered 106% higher $0.175 after the exploration junior announced what it called “promising leach results” from three of its lithium salars in Mexico.

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