Noram Ventures Inc. (CVE:NRM), a lithium explorer, jumped after confirming what it called a “large area of lithium-rich mineralization”
Sean Mason | July 26, 2016 | SmallCapPower
A big potential area of mineralization sparked much speculation in a lithium explorer Tuesday. Here’s some small stocks making big moves on Tuesday, July 26, 2016 (as of 4 pm EST):
Lithium explorer Noram Ventures Inc. (CVE:NRM) climbed 22% to $0.11 on Tuesday after confirming what it called a “large area of lithium-rich mineralization” on the Zeus Portion of its Clayton Valley Project in Nevada based on the final assay results from the Phase II surface and sub-surface sampling, which returned lithium values averaging 780 ppm.
As well, shares of The Intertain Group Limited (TSE:IT) fell 10% to $10.09 as the online bingo-led operator said it intends to pursue UK-centered strategic initiatives to enhance shareholder value, which includes a proposed London listing of the ordinary shares of a newly-incorporated London-headquartered UK corporation that would become the parent holding company for the Intertain group.
Zargon Oil & Gas Ltd. (TSE:ZAR), meanwhile, reported that it has agreed to sell all of its southeast Saskatchewan assets for cash consideration of $89.5 million. Zargon Oil & Gas stock popped 44% to $0.65 following the announcement.
In addition, shares of Standard Graphite Corp. (CVE:SGH) gained 14% to $0.08 as the mineral exploration company said it has been granted an option to earn 50% interest in Philibert Gold Project in Quebec.
Finally, 92 Resources Corp. (CVE:NTY) shares rose 7% to $0.16 after the lithium explorer announced that it has agreed to acquire a 100% interest in the Pontax Lithium Property in Quebec, consisting of 104 mineral claims covering four blocks, totaling approximately 5,536 hectares.
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