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Making gains last week on the TSX Venture exchange were Bonterra Resources Inc., Goldspike Exploration, Latin American Minerals Inc., Petro One Energy Corp. and Foran Mining Corporation.
Bonterra Resources Inc. had the biggest weekly showing on the TSX Venture Exchange, followed by Goldspike Exploration, Latin American Minerals Inc., Petro One Energy Corp. and Foran Mining Corporation.
Bonterra Resources Inc. (TSXV:BTR)
Based out of Vancouver, British Columbia, Bonterra Resources had a huge week on the TSX Venture Exchange.
The gold exploration company experienced a weekly percentage increase of 105.56 to trade at $0.16. On November 5, Bonterra announced a non-brokered private placement to raise the gross proceeds of $550,000.
Goldspike Exploration (TSXV:GSE)
Also showing a share price increase was Goldspike Exploration, who was up 47.22 percent, last trading at $0.27. At the end of October, Goldspike announced it had successfully intersected zones of zinc and lead mineralization in its first drill holes at the company’s 100 percent controlled Lone Mountain project in Eureka County, Nevada.
“We are very encouraged by the recent geochemical data we have been receiving and the fact we are intersecting significant mineralization in our first drilling program,” Bruce Durham, president of Goldspike, said in a media release. “We look forward to having assays in November from the first of the holes in this program and certainly expect to be completing a significant amount of drilling to extend the mineralization in the discovery area as well as a significant amount of further drilling to test the strong geochem target we are defining.”
Latin American Minerals Inc. (TSXV:LAT)
Coming in third was Latin American Minerals Inc. with a weekly percentage gain of 23.81 to trade at $0.10.
Latin American Minerals was last in the news in late September, when the company announced the commencement of heap leach gold processing at its Independencia Mine, part of the Paso Yobai gold project in Paraguay.
“This step is a milestone towards the company’s objective of developing a significant gold resource in this mining-friendly region,” Miles Rideout, president and CEO of Latin American Minerals, stated in a September 29 press release. “We are fully permitted and now executing heap leach processing, which will form part of any future open pit production decision, as currently envisioned at Paso Yobai. The company already holds 12 months of assayed stockpiles averaging 0.6 to 0.8 gpt onsite to be processed using heap leach, with ongoing extraction expected to replenish stockpiles. Increased gold recovery from low cost heap leach processing is expected to drive positive cash flow to support operations.”
Petro One Energy Corp. (TSXV:POP)
Canadian oil exploration and development company Petro One Energy Corp. was also making moves last week, thanks in part to the company’s announcement that it had received license to drill its first horizontal well at Milton.
“The 6-22 well is the first well designed to specifically target the thick Upper Viking formation as an initial step in a detailed horizontal drilling plan designed to efficiently exploit approximately 2,500 acres that are underlain by Viking sand,” Petro One stated in a November 5 media release. “The company plans to spud the first well as soon as the rig is available.”
Petro One rose 22.73 percent on a weekly basis to trade at $0.27.
Foran Mining Corporation (TSXV:FOM)
Focused mainly in Canada’s Flin Flon mining belt, Foran Mining Corporation hasn’t made headlines recently beyond reaching an agreement with Teck Resources Limited to extinguish Teck’s back-in rights on Foran’s Bigstone, Balsam and Hanson properties in east-central Saskatchewan.
Still, the company saw a weekly rise of 22.22 percent, last trading at $0.22.