TSXV edges lower during shortened Aug. 8-11 trading week

The S&P/TSX Venture Composite Index retreated by 0.52 point or 0.08% over the shortened Aug. 8-11 trading session to end at 607.14. 

Leading in terms of value gainers was Arbor Metals (TSXV: ABR), closing up 40¢ at $3.60 per share as it rides the wave of lithium discovery excitement in northern Quebec. The company on July 27 said it had signed an agreement giving its technical team access to data on a group of claims near the Jarnet lithium project in Quebec. Arbor’s CEO, Mark Ferguson, believes that if the claims’ potential aligns with the team’s analysis, it could strengthen its position in the lithium market and the Canadian EV Industry. Arbor’s technical team will carefully examine historical data and exploration results to assess how these claims could enhance the Jarnet project. Jarnet comprises 47 claims, covering an area of approximately 37.6 sq. km. It is next to Patriot Battery Metals’ Corvette-FCI property, where diamond drilling has confirmed significant lithium mineralization in one of the highest-profile lithium exploration projects in the sector. 

Also making value last week was Decade Resources (TSXV: DEC) which closed Friday up 168.8% at 22¢. On Aug. 8, Decade reported that the first three diamond drill holes at the newly discovered Nobody Knows No. 2 zone, indicating substantial copper sulphide mineralization. The Nobody Knows claim group is part of the extensive Treasure Mountain-Nobody Knows-Terrace gold project in British Columbia. The project comprises 48 mineral claims totalling 174.7 sq. km, forming the Treasure Mountain, Nobody Knows, Dardanelle (presently farmed out) and Treasure Mountain properties. The project is highlighted by thick copper sulphide intervals found in felsic volcanic rocks through drilling from one station. Notably, 500 meters of drilling were executed across three holes, unveiling features similar to major sediment-hosted copper systems worldwide, marked by a strong copper-silver association. In drill hole NB23-03, 30 meters of coarse disseminated and stringer copper sulphide were identified, along with 10 meters of disseminated copper sulphide below. The project’s potential is further underscored by additional claims in the drill area and its strategic location with access via logging roads.  

Aston Bay Holdings (TSXV: BAY) was the most-traded issuer, which closed the week up 12¢ at 24¢ per share after 34.3 million shares changed hands. On Aug. 8, the company and exploration partner American West Metals (ASX: AW1) announced a major copper discovery at the Storm property in Canada’s Nunavut territory. The discovery comes after the company’s ongoing diamond drilling campaign, led by American West, yielded promising results for copper sulphides. The Storm copper project on Somerset Island, Nunavut, has been the focus of intensive exploration efforts. According to the company, one of its most exciting aspects is the deposit’s resemblance to recognized sediment-hosted copper systems across the globe, such as those found in the Kalahari Copper Belt and Central African Copper Belt. These similarities add to the significance of the findings, suggesting the possibility of tapping into a significant copper resource.