The Canadian Venture Exchange broke a new record in the report period ended Jan. 25, gaining 174.37 points, or 6.26%, and closing at 2,785.82. Hi-tech and Internet stocks continued to dominate the most-active list.
Muskox Minerals posted still more impressive gains, rocketing $1.09 to close at $2.60. The company is preparing for a $2.5-million drill program on the Muskox platinum-palladium-bearing layered intrusive in Nunavut. Meanwhile, Muskox has entered into a private-placement financing for the purchase of $500,000 worth of special warrants at $1.75 each.
Another winner was Golden Peaks, which climbed 42 to close at $1.10. The junior announced a surface discovery near the Vallecito V-1 zone in Argentina. Seventy rock samples were collected from the prospect; of these, 16 contained greater than 10 grams gold per tonne, the high being 290.7 grams. Also, 14 samples contained greater than 25 grams silver, the high being 861.6 grams.
Anooraq Resources climbed 38 to close at $1.58. The Hunter-Dickinson-led junior has mobilized two drill rigs to the Platreef platinum-palladium property in South Africa.
Great Basin Gold, also part of the Hunter-Dickinson fold, did not fare as well: the company lost 45 and closed at $2.55. The gold explorer is currently drilling the Ivanhoe property in Nevada.
Minera Andes jumped 28 to close at 64. The company is in the midst of a second phase of drilling at its Saavedra West and Huevos Verdes properties in southern Argentina. The former is a disseminated gold-silver deposit; the latter, a high-grade vein prospect.
New Blue Ribbon Resources tacked on 18 and closed at 69. The company reported encouraging results from three widely spaced drill holes at its Pelican Mountains-area heavy minerals properties (TiO2, Fe2O3 and ZrO2) in northern Alberta.
Diagem International Resource closed at 29, up 3. The junior recieved government approval to explore a 2,000-ha property in Brazil’s Mato Grosso state, subject to an option agreement with London-based Rio Tinto.
Asia Minerals gained a penny on high-volume trading and closed at 22. The company has raised $650,000 in a non-brokered private placement, with proceeds earmarked for the Copperstone gold project in Arizona. Drilling is scheduled to begin in February.
Inlet Resources, too, traded with heavy volume, on speculation that an Internet deal is pending. The junior gained 7 to close at 15. Inlet has five exploration properties in Argentina.
Winspear Resources closed at $2.15, down 10. The junior diamond explorer is working on the prospective Snap Lake kimberlite in the Northwest Territories. Winspear holds a 67% interest in the property, with the remainder held by Toronto-listed Aber Resources.
Altoro Gold gained 2 to close at 27. The company released the last batch of drill results from its Pedra Branca platinum-palladium project, near Forteleza, Brazil. Highlights include a 27.7-metre interval grading 0.9 gram platinum and 1.9 grams palladium at the Esbarro prospect. The interval included a 6.5-metre section grading 2.6 gram platinum and 4.1 grams palladium.
Pan Asia Mining closed at 24, down a penny. The junior is in the initial stages of developing the 701 Changma diamond mine in China.
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