Sky’s the limit for CDNX

The Canadian Venture Exchange continued its climb, tacking on 196.62 points, or 6.2%, to finish the week ended Feb. 15 at 3,363.50.

Canada’s small cap market has launched three new indices: technology; mining; and oil and gas. These sector indices were set at 2,000 when the exchange opened last November. The mining index finished the week at 3,377.07, while the tech and oil and gas indices closed at 5,746.86 and 2,197.03, respectively. The exchange reports that, so far this year, the tech index has soared 107%, whereas the mining index gained 55% and the oil and gas index tacked on 18%. The overall market has rocketed 65% since the beginning of the year.

Muskox Minerals was this week’s leader, adding 70 to its value and closing near a 52-week high at $3.12. The junior is gearing up to drill-test the platinum-palladium-bearing, layered intrusion known as Muskox, situated in Nunavut.

Seabridge Resources got a boost after announcing it had acquired the option to buy the Grassy Mountain gold property in Oregon. The junior jumped 46 to close at $1.45. Grassy Mountain hosts an open-pit resource of 17.2 million tons grading 0.061 oz. gold per ton.

Now that work has resumed on the prospective Snap Lake kimberlite in the Northwest Territories, Winspear Resources gained 16 to close at $2.13, with 1.2 million shares having changed hands over the week. The junior diamond explorer has advanced its underground exploration program at the Camsell Lake joint venture. The program includes collecting a 20,000-tonne bulk sample.

Cantex Mine Development closed at 69, posting a modest gain of 4. Long-awaited assay results from the Al Hariqah gold property in Yemen pushed the stock as high as 98. After digesting the results from a 13-hole drill program investors took some profits. Nine of the holes returned greater than 1 gram gold per tonne over significant widths.

Maracote International Resources rose 21 after announcing that its shares will begin trading in the U.S. on the over-the-counter bulletin board under the trading symbol mcerf.

Madison Enterprises tacked on 20 to close at $1. The stock has moved upwards since the company announced a 10% increase in contained ounces of gold at its Mt. Kare gold project in Papua New Guinea. The company is raising $5.3 million in financing to continue drilling there.

International Wayside Gold Mines closed at 28, up 6. The company is developing its 100%-optioned Cariboo gold quartz project, near Wells, B.C.

United Carina Resources and partner Consolidated Pine Channel Gold are planning to evaluate 100,000 acres of recently acquired kimberlite ground in Saskatchewan, near Prince Albert. The companies hope to launch a drill program by early summer. United Carina closed at 56, up 11, whereas Consolidated Pine Channel lost a penny to closed at 12.