TSX Venture Exchange May 22-28

Despite a U.S. Memorial Day-shortened May 22-28 trading session, the S&P-TSX Venture Composite Index posted strong average daily trading volume of 91 million shares, but gave up 48.55 points to close at 3,226.13.

With 48 junior explorers touching new 52-week highs over the week, and 41 sliding to new annual lows, the market’s recent bullish trend was muted.

On a major resource boost at its Bahuerachi project in northwestern Mexico, Tyler Resources soared 88% to close the week up 44 at 94 per share on trading volume of 28 million. The revised estimate on the project’s Main zone now shows a measured and indicated metal inventory of 4.56 billion lbs. copper, 96.2 million lbs. molybdenum, 68 million oz. silver, 550,000 oz. gold and 6.3 billion lbs. zinc.

Golden Chalice Resources continued to be a strong trader with more than 16.6 million shares changing hands over the session, notching up four pennies to $1.77 per share. The Timmins, Ont.-area explorer recently boosted its land position around its Langmuir property, where drilling has cut 72.5 metres of 1.14% nickel.

With trading volume of 11 million shares, Amador Gold rallied 39% to post a 7.5 gain on the week, closing at 26.5 per share. The company has lined up a $1.1-million financing at a dime per unit, earmarked for its Ontario property portfolio and potential acquisitions.

Western Uranium saw 8.3 million shares change hands over the session, closing even at $3.65 per share. The company announced a partnership with Cameco whereby the uranium giant will take a 10% position in the junior for about $20 million. Western Uranium is advancing its Kings Valley project in Nevada.

Klondike Gold closed the week up two pennies at 12 on volume of 7.9 million shares. Recent drilling on its Matarrow property, southwest of Kirkland Lake, Ont., returned a 4.1-metre intercept of 4.6% zinc and 0.6% lead. The company also acquired a lead-zinc property in southeastern B.C.

Despite continued strong nickel prices, Crowflight Minerals pulled back slightly from its recent highs, closing down 12 at $1.03 per share on trading volume of 5.3 million shares. Having recently closed a $25-million financing, the company continues to advance its Bucko Lake nickel deposit, in northern Manitoba, where it has completed a bankable feasibility study.

Shares of uranium explorer Uracan Resources posted a 69 gain on the week, closing up 72% at $1.65 apiece on trading volume of over 5 million shares. Drilling on the company’s North Shore project, in Quebec, has turned in a number of wide uranium-mineralized intercepts.

Mag Silver saw a slight share price correction, giving up $1.70 to close at $10.74 per share on volume of almost 1.5 million shares. Drilling on the Valdecanas vein at its Juanicipio joint venture in Zacatecas state, Mexico, has extended its strike length to 1 km and returned intercepts of up to 4.3 metres grading 271 grams silver and 2.8 grams gold per tonne.

TSX-V most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
Fortress Minls FST 29302 1.48 1.25 1.35 0.00
Tyler Res TYS 27998 1.03 0.77 0.94 +0.44
Peak Gold PIK 20686 0.79 0.67 0.77 -0.02
Golden Chalice GCR 16665 2.58 1.66 1.77 +0.04
Dumont Nickel DNI 15122 0.19 0.13 0.15 +0.02
Amador Gold AGX 11029 0.31 0.195 0.265 +0.075
Norwood Res NRS 9611 1.35 0.92 0.94 -1.24
Western Uran WUC 8309 4.15 3.52 3.65 0.00
Klondike Gold KG 7934 0.15 0.10 0.12 +0.02
Crowflight Mnl CML 5296 1.20 0.97 1.03 -0.12

TSX-V greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
Kruger Expl KGC 105 0.46 0.19 0.46 +100.0
Tyler Res TYS 27998 1.03 0.77 0.94 +88.0
Uracan Res URC 5081 1.65 0.96 1.65 +71.8
Great Sthn Ent GSR 482 0.14 0.065 0.11 +69.2
Millstream Min MLM 2844 0.52 0.35 0.50 +44.9
Amador Gold AGX 11029 0.31 0.195 0.265 +39.4
Kent Expl KEX 2062 0.36 0.22 0.36 +38.4
Northern Abiti NAI 4661 0.25 0.15 0.195 +34.4
Black Bull Res BBS 929 0.27 0.175 0.23 +31.4
Rupert Res RUP 232 0.65 0.50 0.65 +30.0
Tom Expl TUM 1567 0.12 0.08 0.09 -33.3
Allyn Res ARR 17 0.075 0.05 0.07 -30.0
United Reef URP 2976 0.26 0.175 0.175 -30.0
Arcturus Res AZN 79 0.105 0.07 0.09 -28.0
Manson Creek MCK 1283 0.235 0.165 0.17 -27.6
Western Troy C WRY 489 1.35 0.94 0.95 -26.9
Lucky Stk Res LKY 30 0.205 0.17 0.17 -26.0
Young-Shan Gld GYS 76 0.11 0.08 0.10 -25.9
MacDonald Mns BMK 788 0.095 0.06 0.09 -25.0

TSX-V greatest value change

VOLUME CLOSE CHANGE
Uracan Res URC 5080820 1.65 +0.69
Asia Gold ASG 150170 5.00 +0.55
BRC Diamond BRC 39800 7.25 +0.44
Tyler Res TYS 27998021 0.94 +0.44
Columbia Yukon CYU 1419825 1.85 +0.42
Inca Pac Res IPR 547565 2.04 +0.42
Exeter Res XRC 395626 2.78 +0.36
Hard Creek Ni HNC 707400 2.55 +0.36
Commerce Res CCE 1640561 1.75 +0.36
MBMI Res MBR 1190732 3.18 +0.34
Mag Silver MAG 1454765 10.74 -1.70
Seabridge Gold SEA 88803 15.76 -1.40
Norwood Res NRS 9610780 0.94 -1.24
Pac Booker Min BKM 24219 10.50 -1.01
First Majestic FR 874889 4.15 -0.51
Wealth Minls WML 418629 5.10 -0.49
Anooraq Res ARQ 777978 2.46 -0.48
Triex Minerals TXM 223225 4.25 -0.48
Strathmore Min STM 1739602 4.72 -0.46
Andina Mnls ADM 2323999 3.10 -0.40
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