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TSXV Top 5: Merrex Gold Expands West African Drill Program
Last week, the share prices of a number of junior resource companies on the TSX Venture Exchange increased.
The five that saw the greatest increases were Merrex Gold (TSXV:MXI), Rathdowney Resources (TSXV:RTH), GeoMegA Resources (TSXV:GMA), Stans Energy (TSXV:HRE) and Calibre Mining (TSXV:CXB).
Merrex Gold
Junior explorer Merrex Gold works in West Mali, Africa and Nova Scotia, Canada. It grew 64.71 percent last week to reach $0.14 a share.
The company recently expanded its drill program at the Diakha discovery zone, located at its Siribaya gold project in West Africa. The intent of the $2.13-million program is to provide information about the site’s mineral content and whether it contains gold-bearing structures.
Rathdowney Resources
Last week, zinc-focused Rathdowney Resources increased by 45.83 percent to reach $0.35 per share.
The company’s goal is to advance its Poland-based Olza zinc-lead–silver project. It consists of three contiguous concessions — Zawiercie, Rikitno and Chechlo — and is near the centers of Krakow and Katowice, which are close to concentrating and smelting facilities.
On May 15, Robert Konski was appointed president, CEO and director of the company.
GeoMegA Resources
GeoMegA Resources is a junior rare earth element (REE) company based in Quebec. It owns a 100-percent interest in the Montviel project.
In a recent interview with Rare Earth Investing News, President and CEO Simon Britt explained that the company is working on REE separation technology that is different from the kind used in China. He said, “[a]t the beginning, we looked at magnetic properties, but subsequently started working with REE ions in solutions. We discovered that [REEs] move at different speeds, which is based on electrophoresis mobility. With that knowledge, [process engineer Pouya Hajiani] designed a process that combines a free-flow approach and a perpendicular electric field to create separation.”
Stans Energy
Canada’s Stans Energy grew by 31.82 percent last week to reach $0.15 per share. Its focus is on “developing the materials necessary to meet the clean energy demands of the future” by building and producing at its projects, which contain REEs, uranium and associated metals.
On June 27, the company said that the State Agency for Geology and Mineral Resources of the Kyrgyz Republic has okayed its request to separate the Kargysh mineralization zone from the Kyzyluraan field prospecting license.
Calibre Mining
Calibre Mining works in Nicaragua’s “Golden Triangle,” where its focus is on its Borosi concessions. The company grew 30 percent last week, reaching $0.07 per share.
The company announced on June 23 that it has finalized a drill program for its Eastern Borosi project, which consists of 176 square kilometers within the Borosi concessions. It will include 3,400 meters of drilling in 31 different holes and will enable the company to locate gold and silver. Calibre has already prioritized where to drill the holes.
Related reading:
GeoMegA Resources: Physical REE Separation Outside of China
What’s Going On? Stans Energy Discusses Arbitration and Kutessay II
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