Resource Explorer Powers Higher on Assay Results

Arizona Mining Inc. (TSE:AZ), a resource explorer, moved up after announcing drill results from its Hermosa Project

Sean Mason | September 8, 2016 | SmallCapPower

Zinc-silver assays boosted a resource explorer Thursday, while gold results glistered. Here’s some small stocks making big moves on Thursday, September 8, 2016 (as of 4 pm EST):

Arizona Mining Inc. (TSE:AZ) shares surged 16% to $2.40 on Thursday after the resource explorer announced drill results from its 100% owned Hermosa Project in Arizona, which included a 105 foot thick zone that assayed 13.65% zinc, 10.33% lead, 0.30% copper, and 3.36 ounces per ton silver.

As well, shares of Transat A.T. Inc. (TSE:TRZ) slipped 8% to $6.50 as the integrated tourism company said its third-quarter adjusted net income fell 91% to $2.5 million, while revenue for the quarter decreased 5.9% to $663.6 million.

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NuLegacy Gold Corporation (CVE:NUG), meanwhile, reported assay results from five reverse circulation holes drilled during August on its 100% owned Iceberg oxide gold deposit in Nevada, which included 2.16 grams per tonne gold over 21.3 meters. NuLegacy Gold stock moved up 33% to $0.42 following the announcement.

Finally, Algold Resources Ltd. (CVE:ALG) shares climbed 11% to $0.355 after the gold explorer announced more results from its Phase I 10,000-meter drilling campaign carried out on its Tijirit property in Mauritania, which included 3 metres of 30.03 g/t gold.

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