A number of junior exploration companies posted strong gains last week on the TSX Venture Exchange (TSXV).
A number of junior resource companies posted strong gains last week on the TSX Venture Exchange (TSXV).
Troymet Exploration (TSXV:TYE)
This mineral exploration and production company saw a big week with 444,000 net buys. The company explores for gold, silver and base metal properties and is based out of British Columbia. Troymet is currently working on advancing several projects across Western Canada, including the Key gold-silver project located near New Gold’s (TSX:NGD) Blackwater gold deposit and Silver Quest Resources’ (TSXV:SQI) 3Ts gold-silver deposit. Troymet is also conducting an exploration program in Northwestern British Columbia near the Yukon border known as Golden Eagle. The company has confirmed an intrusion-related gold system spanning a 12-kilometer section of the northern half of the property. Further drilling is currently being planned. Troymet is currently trading at $0.015.
Cypress Development (TSXV:CYP)
Cypress, a Canadian gold and base metal exploration company, saw 155,000 net buys last week. That came on the heels of a May 8 announcement that Cypress, along with Skyharbour Resources (TSXV:SYH), has completed the sale of its interest in its jointly held Broulan Reef, Red Lake, Ontario property to Premier Gold Mines (TSX:PG) for a total of $1,750,000 cash, 160,000 common shares of Premier and a 0.5-percent net smelter royalty. Cypress owns properties in Ontario as well as Nevada, and is currently trading at $0.015.
Abcourt Mines (TSXV:ABI)
Abcourt Mines engages in the acquisition and exploration of mining properties in Northwestern Quebec, Canada, and reached a volume of 150,000 net buys last week. The company has two exploration projects that are currently at an advanced stage of development. Both properties are located in the Abitibi region of Quebec. The first is a silver-zinc project with the Abcourt-Barvue and Vendome-Varvallee properties north of Val-d’Or, and the second is a gold project with the Elder and Tagami properties near Rouyn-Noranda. The company is currently trading at $0.070.
Maya Gold & Silver (TSXV:MYA)
Maya Gold & Silver is a Quebec-based mining exploration company with 118,000 net buys last week. The company is focused on precious metal properties and owns two properties: the gold and silver Amizmiz project in Morocco and the Baluarte epithermal gold-silver property in Mexico. The company’s Zgounder mine in Morocco was named mine of the month in the January/February 2013 issue of Mining Magazine and is currently trading at $0.255.
Reef Resources (TSXV:REE)
This company is in the business of exploration, development and production of oil and natural gas in Canada, and netted 100,000 buys last week. Alberta-based Reef Resources has a portfolio of light oil, liquid natural gas and shallow natural assets that are currently under development in Southern Ontario. The company acquired a net position of over 1,800 acres of development property in 2003, an area known to yield rich carbonate plays. The company is currently trading at $0.025.