Lithium Junior Jumps on Drilling News

Iconic Minerals Ltd. (CVE:ICM), a lithium junior, surged after announcing that drilling has begun its Bonnie Claire Project in Nevada

Sean Mason | July 20, 2016 | SmallCapPower

The start of a drill program was good news for shareholders of a Nevada lithium junior Wednesday. Here’s some small stocks making big moves on Wednesday, July 20, 2016 (as of 4 pm EST):

Lithium junior Iconic Minerals Ltd. (CVE:ICM) powered 39% higher to $0.39 on Wednesday after announcing that it has initiated the Phase 1 Drilling Program at its Bonnie Claire Lithium Project in Nevada.

As well, shares of Bellatrix Exploration Ltd. (TSE:BXE) slipped 11% to $1.19 as the oil and gas producer/explorer said it has entered into a $30 million bought deal financing agreement at a price of $1.20 per subscription receipt.

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Neo Lithium Corp. (CVE:NLC), meanwhile, made its stock market debut on the TSX Venture exchange Wednesday. The Company has 100% ownership of the Tres Quebradas Lithium Project, a newly discovered and lithium salar and brine reservoir complex, in Argentina.

Finally, Noram Ventures Inc. (CVE:NRM) shares climbed as much as 15% before ending unchanged at $0.065 after the lithium explorer announced the completion of Phase II sampling on the Zeus claim group portion of its Clayton Valley Lithium Project in Nevada. The samples show an average of approximately 750 ppm lithium from all samples taken over the 1,200 metre long by 800 metre wide area with values as high as 1,670 ppm Li in the claystones.

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