Iconic Minerals Ltd. (CVE:ICM), a lithium junior, jumped after announcing the first geochemical results from its Bonnie Claire project in Nevada
Sean Mason | September 15, 2016 | SmallCapPower
Geochemical results generated much speculation in a lithium junior Thursday. Here’s some small stocks making big moves on Thursday, September 15, 2016 (as of 4 pm EST):
Iconic Minerals Ltd. (CVE:ICM) shares surged 18% to $0.335 on Thursday after the lithium junior announced that it has received the first geochemical results from the sampling of drill cuttings taken from the first monitor well drilled at its Bonnie Claire project in Nevada, which showed lithium values ranging from 800 ppm to 1,410 ppm. The Company believes the highly anomalous results verify that lithium is abundant in the sediments within Bonnie Claire basin.
Related: Albemarle (NYSE:ALB) Could Be Targeting These Nevada Lithium Juniors
As well, shares of Westminster Resources Ltd. (CVE:WMR) slid 25% to $0.06 as the explorer said its recent exploration program at the MER property in the Northwest Territories produced channel samples that included 1.02%, 2.62% and 2.09% Li2O, each over a one-metre interval.
Orla Mining Ltd. (CVE:OLA), meanwhile, reported that it has entered into a merger agreement with Pershimco Resources Inc. (CVE:PRO). Orla shareholders will receive one common share in the newly-merged company for each Orla common share held. Orla Mining stock popped 67% to $1.35 following the announcement.
Finally, Electrovaya (TSE:EFL) shares rose 5% to $3.30 after the manufacturer of proprietary Lithium Ion Super Polymer batteries, battery systems, and battery-related products for energy storage announced that it is supplying lithium ion batteries to Hyster-Yale Group.
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