TSX Venture gains during Jan. 9-13 trading period

The S&P/TSX Venture Composite Index added 33.22 points or 5.7% over the Jan. 6-13 trading period to end at 615.11.  

Dynasty Gold was the week’s second-highest gainer by percentage, surging 175% from a low of 10¢ during the week, to close at 28¢ after reporting its best drill results yet from the Thundercloud property in northwest Ontario.  

One hole, from a new area that hadn’t been drilled, returned up to 246 grams gold per tonne over 1.5 metres from 118.5 metres depth, the company said Jan. 10. Another hole cut 1.31 grams gold over 121 metres from 102 metres, including 15.06 grams gold over 9 metres and 43.47 grams gold over 3 metres. 

The results show the highest grades and the longest intercepts drilled to date, indicating a larger resource potential than previously thought, Dynasty CEO Ivy Chong said in a news release. The project has an inferred resource of 4.1 million tonnes grading 1.37 grams gold per tonne for 182,000 oz. gold, based on historical drilling. 

The property, acquired from Teck Resources in 2021, lies near Dryden in the central Wabigoon greenstone belt where nearly 30 million oz. of gold have been discovered in recent years. 

RecycLiCo Battery Materials shares almost doubled to close at 64¢ during the period after reporting Jan. 12 a South Korean cathode maker said using RecycLiCo materials showed the same results as commercial battery performance. The manufacturer wasn’t named.  

“These results not only validate our technological lead but also showcase the potential of our strategic business model,” RecycLiCo CEO Zarko Meseldzija said in a news release.  

Word of the good test came three days after RecycLiCo and South Korean electronics company Sonid said they’re considering a joint venture on a battery recycling plant or a licensing agreement.  

Coupling RecycLiCo’s recycling-upcycling technology with Sonid’s commercial expertise is the foundation for a sustainable and efficient lithium-ion battery supply chain, Meseldzija said.  

Indigo Exploration jumped 86% after saying Jan. 12 it had doubled its land holdings in central Alberta to 147.9 sq. km adjacent to permits held by E3 Lithium, LithiumBank Resources and Highwood Asset Management.  

The new areas include significant subsurface Devonian reef reservoir aquifers with the potential to produce large volumes of lithium-bearing formation brine, Indigo said.  

“Our strategy of permit selection is balancing geological theory with adequate stand-alone project size,” Bradley Parkes, interim vice-president of exploration, said in a news release.  

The acquired permits are near wells recording lithium brine levels of 72-130 mg per litre from the Leduc carbonate reef complex, Woodbend Group and the underlying Beaverhill Lake Group rock, Indigo said. The aquifers in these areas have been known to host the highest grades of lithium-in-brine in Alberta, the company said.  

Indigo says it’s analyzing data from more than 700 wells drilled on the permit areas to prepare for sampling this quarter. The wells vary from producing to abandoned and penetrate Mississippian or Devonian formations, it said.