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North Arrow Minerals, Tirex Resources, Foran Mining, Petro One Energy and Cresco Exploration were the top five resource companies to make gains on the TSX Venture last week.
Last week saw a number of junior resource companies on the TSX Venture Exchange gain in share prices. Below are the five with the greatest increases.
North Arrow Minerals (TSXV:NAR)
North Arrow Minerals gained 50 percent last week on a trading volume of 650,686 shares. The company is focused on identifying and evaluating diamond opportunities in Canada. Its properties have largely been explored before, but set to the side due to market conditions, according to its website. Its projects include the Lac de Gras and Redemption joint ventures, both near Canada’s first two diamond mines, Ekati and Diavik in the Northwest Territories. On November 5, the company announced Canada’s latest diamond discovery at the Pikoo diamond project in Saskatchewan. Microdiamond counts from the site indicate there may be coarse-sized diamond distribution at the project.
Tirex Resources (TSXV:TXX)
Tirex Resources gained 41.46 percent last week on a trading volume of 323,225 shares. The company concentrates on the acquisition and exploration of properties in Albania, specifically the Mirdita property. This project covers the Mirdita volcanogenic massive sulfide district. According to Tirex’s website, the company recently announced its intentions to transition into production and has received approval for six 25-year mining licenses within the Mirdita district. Volcanogenic massive sulfide deposits typically form bodies of copper, zinc, gold and silver mineralization, meaning Tirex has a diverse portfolio of possible products to mine and sell.
Foran Mining (TSXV:FOM)
Foran Mining gained 41.18 percent last week with a trading volume of 271,310 shares. Foran is an exploration and development company with projects in Central Canada’s Flin Flon mining belt. Its flagship project, McIlvenna Bay, is in East-Central Saskatchewan. McIlvenna Bay is a volcanogenic massive sulfide deposit, which may contain zinc, copper, lead and gold. The company plans to develop the McIlvenna Bay property, over which it has 100-percent ownership, into an operating mine in the near future.
Petro One Energy (TSXV:POP)
Petro One Energy rose 39.39 percent last week on a volume of 252,145 shares. Petro One Energy, formerly known as Cloudbreak Resources, is an exploration-stage company engaged in acquiring, exploring and evaluating petroleum and natural gas and other natural resource properties in Western Canada. The company has properties in Saskatchewan, Alberta and the Yukon Territories. It holds 100-percent interests in 243 mineral claims in the White Gold District, which is just south of Dawson City, Yukon. It also has 100-percent interests in 14 petroleum and natural gas leases in Saskatchewan and Manitoba.
Creso Exploration (TSXV:CXT)
Creso Exploration rose 29.41 percent last week on a volume of 1,770,000 shares. The company, formerly Willowstar Capital, focuses on the identification and acquisition of early-stage gold and base metals properties. It seeks high-grade ore deposits in the Shining Tree mining camp in Northern Ontario as well as in base metal properties in Guatemala. It is primarily interested in gold, silver, copper and zinc. The Shining Tree project consists of two non-contiguous leased, patented and unpatented mineral claim groups, according to the company’s website. The properties occupy the southwest portion of the Abitibi Greenstone belt, near Proterozoic sediments of the Cobalt Embayment.
Related reading:
North Arrow Minerals’ Ken Armstrong on Saskatchewan’s New Diamond District