TSXV gathers pace during July 10-14 trading week

The S&P/TSX Venture Composite Index gained 13.7 points or 2.2% over the July 10-14 trading session to end at 628.44.

Bravo Mining was the week’s top value gainer, closing Friday 81¢ per share higher at $4.85. On July 11, Bravo reported assay results from 21 diamond drill holes from the Southwest, Central and North sectors of its Luanga palladium, platinum, rhodium, gold, nickel project in the Carajas region of Para state, Brazil. Results include the initial eight from the Phase 2 program targeting potential mineralized extensions about 300 metres below surface, which is twice as deep as Bravo’s initial drilling campaign. Drill hole DDH23LU184 has intercepted additional evidence of magmatic nickel sulphide mineralization in the Southwest sector, further supporting the potential for nickel sulphides at depth at Luanga. The company says it has completed airborne electromagnetics over the 80,000-sq.-metre Luanga project, with preliminary data showing promising anomalies for follow-up.

Contact Gold was the week’s most active issue, seeing just more than  9 million shares change hands during the trading period to close 1¢ higher Friday at 2¢ per share. The company last issued a press release on June 15, outlining its plans for an active summer of exploration drilling at the Green Springs project in Nevada’s Cortez Trend as part of a US$10 million earn-in agreement with Centerra Gold. The project has been active since May 30, with Contact as the operator, planning to undertake 4,500 metres of reverse circulation drilling. While drilling to date has been focused on the Echo Zone at the southern end of the 3-km-long Green Springs Mine Trend, next up on the target list are the C-D Gap target and the X-Ray Zone, a recently discovered outcropping zone of oxidized gold mineralization.

DLP Resources was among the week’s top percentage gainers, adding 49.5% to close Friday at 71¢ per share. The company announced on June 20 it had started work on a single deep drill hole at its NZOU critical metals project in southeastern British Columbia. The one-hole drill program of about 1,700 metres in NZ23-001 is planned for the Sullivan-type zinc-lead-silver target. The company had previously outlined that the extension of the well-developed magnetotelluric geophysical anomalies to the northeast of hole DD21-02 indicated well-developed conductive bodies extending over 5,000 metres x 500 metres. These conductive zones are expected to be associated with pyrrhotite (iron sulphide) linked with the extension of the Sullivan Horizon intersected in DD21-02. Both geophysical and geological data support that a significant mineralized Sullivan-type system may be present 3.7 km northeast of hole DD21-02, which had been key for the company to hone in on the latest target.