5 Top Weekly TSXV Stocks: Sandfire Resources Gains 260 Percent on Court Win

Weekly gain: 260 percent; market cap: C$286.54 million; current share price: C$0.27

Sandfire Resources America is a copper development company focused on its Black Butte copper project located east of Helena, Montana, in the US. In 2021, a state district court revoked the company's mine operating permit for Black Butte, halting construction activities of the underground mine.

Sandfire describes the project as one of the highest grade undeveloped copper deposits in the world; a mineral resource estimate for the project's Johnny Lee deposit completed in 2020 reported measured and indicated resources of 10.9 million MT grading 2.9 percent copper for a total of 311,000 MT contained copper.

Shares in Sandfire soared this past Monday (February 26) following a decision by the Montana Supreme Court to reinstate the company's mine operating permit. The win is a crucial step for Sandfire to continue the construction of its mine.

Weekly gain: 125.64 percent; market cap: C$34.43 million; current share price: C$0.44

Q2 Metals is a lithium and gold exploration company with operations in the Eeyou Itschee James Bay region of Québec, Canada, and in Queensland, Australia.

Its flagship asset is the Mia lithium project, which consists of 171 mineral claims. Exploration at the site began in 2023, with surface mapping taking place in June and its inaugural drill program commencing in October. Six kilometers north of Mia, the company also owns the Stellar lithium project, which consists of 77 claims covering 3,972 hectares.

The company’s lone Australian asset is the Big Hill gold project, which includes the historic mines Big Hill, Queenslander, Monte Cristo, and Sultan and Taylor.

Q2 saw gains this past Thursday when it announced it had acquired 100 percent of the Cisco lithium property located in the Eeyou Itschee James Bay region. The property covers an area of 11,374 hectares and hosts 222 claims. Historical exploration at the site has discovered intervals of 1.27 percent lithium over 57.8 meters and 1.21 percent lithium over 115.4 meters.

Weekly gain: 114.29 percent; market cap: C$16.1 million; current share price: C$0.075

Sirios Resources is a gold and lithium exploration company with assets located in the Eeyou Istchee James Bar region of Quebec, Canada.

The company’s flagship Cheechoo gold project covers 81 square kilometers and is comprised of 156 mining claims over two blocks. The latest mineral resource estimate from 2022 reported an indicated and inferred resources totaling 1.9 million ounces of gold, with 1.4 million in the indicated category.

Shares in Sirios saw gains following a release this past Wednesday when the company reported that the first drill hole of 2024 at Cheechoo’s Eclipse target intersected visible gold at a depth of between 256.7 meters and 258 meters. The company is currently conducting a 1,000 meter drill program aimed at including Eclipse in an updated mineral resource estimate later this year.

Weekly gain: 109.41 percent; market cap: C$154.79 million; current share price: C$0.89

Frontier Lithium is a lithium exploration and development company with assets located in Northwestern Ontario, Canada.

Its flagship Pak project, acquired in 2013, consists of 1,261 mining claims covering 12,121 hectares and hosts a lithium, cesium and tantalum-bearing complex. In the pre-feasibility report for Pak from May 2023, mineral resource estimates for the site showed measured and indicated pit-constrained resources of 5.42 million MT grading 1.99 percent lithium oxide for a total of 108,036 MT of lithium oxide.

Frontier’s most recent announcement came on February 22, when it released its Q3 financial statement. In the release, the company stated it was in a good financial position with C$15.5 million cash balance and had received a C$2 million funding grant from the Northern Ontario Heritage Fund to advance lithium chemicals research. The company also reported it had awarded a contract to DRA Americas to complete the mine and mill portion of its definitive feasibility study.

Weekly gain: 69.23 percent; market cap: C$98.62 million; current share price: C$0.68

Omai Gold Mines is a gold exploration company focused on the development of its namesake gold project in Guyana.

The project consists of a 4,590 acre prospecting license and two mining permits for medium-scale operations over 1,519 acres. The site hosts two primary gold deposits, Wenot and Gilt Creek.

The most recent announcement from the company was the release of an updated mineral resource estimate on February 8. The company reported indicated and inferred totals of 4.26 million ounces of gold, with 2.45 million ounces hosted at the Wenot deposit and 1.82 million ounces at Gilt Creek.