Venture rises in January 16-20 period

Vancouver – The S&P TSX Venture Composite Index climbed 35.31 points in the January 16 to 20 trading period to end at 1,571.34 points after four days of gains and one day of losses. Volume would have averaged almost 100 million shares traded a day were it not for the U.S. holiday Monday where volume was a paltry 69 million, leaving the overall average at 93 million shares traded daily.

Impressive drill results led to the trading of 26.8 million Calibre Mining shares, making it the most actively traded stock on the Index. Results from the company’s Primavera prospect in Nicaragua included 261.7 metres grading 0.78 gram gold per tonne and 0.3% copper, 276.8 metres averaging 0.5 gram gold and 0.22% copper and 123.9 metres carrying 0.65 gram gold and 0.28% copper, all essentially from surface. Cailbre’s stock price more than doubled on the news, climbing 20¢ to 38¢ for a four-year high. B2Gold is working to earn 51% of the prospect and is now operator.

Unigold also saw a more than doubling of its share price at one point following strong results from Central America, this time the Dominican Republic. The company’s share price went from 17¢ to a high of 35¢ before settling at 29¢ with 12.5 million shares traded. Unigold released four drill holes from the Candelones extension at its Neita property, with stand-out hole 17 returning 73 metres grading 2.36 grams gold from 252 metres depth. Other results included 60 metres grading 1.3 grams gold, 20 metres averaging 2.74 grams gold and 37 metres averaging 1.48 grams gold.

Northern Freegold saw some good share price movement after releasing an initial resource on the Revenue deposit of its Freegold Mountain project in the Yukon. The company’s stock price went from 19¢ to end at 33¢ after hitting a trading high of 37¢ with 5.2 million shares traded. The resource established 101 million inferred tonnes grading 0.34 gram gold, 3.14 grams silver per tonne, 0.13% copper and 0.04% molybdenum for contained metal totals of 1.1 million oz. gold, 10.2 million oz. silver, 287 million lbs. copper, and 90 million lbs. molybdenum.

Abitibi Royalties was the second highest value gainer, climbing 55¢ to end at $1.95 on very thin volume of 24,500 shares traded after a resource estimate was released on the Jeffrey zone at the Malartic CHL property. The Jeffrey zone, sitting 550 metres east of Osisko Mining‘s Canadian Malartic main pit, is estimated to contain 5.81 million indicated tonnes grading 0.7 gram gold for 130,760 oz. gold plus 1.8 million inferred tonnes grading 0.58 gram gold for 32,820 oz. gold. Abitibi Royalties owns a 30% free carried interest in the Malarctic CHL property, while Osisko owns the rest.

Golbrook Ventures climbed 12¢ to 36¢ with 6.7 million shares traded after agreeing to a 39¢ all-cash takeover offer from Jilin Jien Nickel. The two companies had been locked in a long-standing legal dispute over a 25% stake in the Nunavik nickel project in northern Quebec. Multiple rulings has found in favour of Goldbrook’s right to the 25%, leading Jilin to make an earlier buyout offer of 30¢ a share. The lesser offer was rejected by Goldbrook, but it has endorsed the latest offer.