5 Top Weekly TSXV Stocks: Gold Stocks Lead the Way as Turmoil Rocks Markets

Weekly gain: 50 percent; market cap: C$31.81 million; share price: C$0.015

Jervois Global is working to advance a global portfolio of nickel and cobalt projects. It owns the Idaho Cobalt Operations in the US, at which it suspended mine construction in 2023 due to low cobalt prices.

According to Jervois, the Idaho Cobalt Operations have the largest US cobalt resource. A 2020 feasibility study shows that they have a measured and indicated resource of 50.1 million pounds of cobalt from 5.24 million metric tons grading 0.44 percent, with inferred values of 12 million pounds of cobalt from 1.57 million metric tons grading 0.35 percent.

The company announced in June 2023 that it had entered into a US$15 million agreement through the US Department of Defense’s Defense Production Act for exploration activities at its property.

In its most recent announcement from the project, released on July 31, Jervois reported that extensional drilling at the Idaho Cobalt Operations had shown positive resource growth potential, with cobalt, gold and copper mineralization at depth. In the announcement, the company provides a highlighted result of 1.1 percent cobalt, 1.18 percent gold and 0.69 grams per metric ton (g/t) gold over 1.8 meters.

Weekly gain: 28.57 percent; market cap: C$10.7 million; share price: C$0.18

Dynasty Gold is an exploration company focused on its Thundercloud gold project in the Wabigoon greenstone belt of Western Ontario, Canada. The company acquired the 2,250 hectare project from Teck Resources (TSX:TECK.A,TECK.B,NYSE:TECK) in September 2021. Past exploration work on the site identified two primary mineralization zones, Pelham and West Contact. According to a 2021 feasibility study, Pelham hosts an inferred resource of 182,000 ounces of gold from 4.14 million metric tons at an average grade of 1.37 g/t gold.

The most recent news from Thundercloud came on July 30, when Dynasty announced the completion of 1,320 meters of drilling across eight holes. The company encountered pyrite at various depths, including strong pyrite veining in one core below 130 meters. The drill holes were completed as part of a larger 4,000 meter program that commenced on July 11 to test down-dip extensions in the Pelham zone and confirm trench assays at the West Contact zone.

Weekly gain: 21.05 percent; market cap: C$22.81 million; share price: C$0.345

Golconda Gold is a gold production company with mining operations in New Mexico, US, and South Africa.

The company acquired the Galaxy mine near Barberton, South Africa, in 2015. It is one of the oldest mines in the country. Golconda expanded its holdings to the US in May 2021, when it acquired the Summit mine and Banner mill, located in Grant County, New Mexico. The site has hosted mining activities since the late 1800s.

In mid-May, Golconda announced it had begun mining the Princeton Top deposit at Galaxy, a move it said will help it achieve its goal of doubling gold production in 2024.

Its most recent news came on May 29 with the release of its Q1 financial and operating results. Golconda increased its production in Q1, during which time it processed 1,095 metric tons of concentrate at an average grade of 42.8 g/t gold for 1,507 gold ounces. The amount represents an increase of 15 percent over the 1,314 ounces produced in the previous quarter. The company also said it generated C$2.2 million from the sale of 1,099 ounces of gold.

Weekly gain: 20 percent; market cap: C$21.43 million; share price: C$0.12

AuMEGA Metals is a gold exploration company focused on the advancement of a 110 kilometer long, district-scale land package along the Cape Ray shear zone in Newfoundland and Labrador, Canada.

In addition to its projects within the shear zone, the company owns the Hermitage project, which includes a 27 kilometer long portion of the Hermitage Flexure crustal structure.

On July 31, the company reported the completion of the first phase of its 2024 drill program, which is focused on new targets in the Central zone at Cape Ray; it is expecting assay results in the coming weeks. AuMEGA said the drill program marks the first time in two years it has carried out diamond drilling within the resource corridor.

The next phase of the program will be focused on new targets at the Malachite project, building on work completed in the winter that resulted in grades of up to 627 parts per billion gold and 1.99 percent copper at near-surface depth.

AuMEGA also announced it has commenced greenfield till surveying at the Intersection project within the Cape Ray shear zone. This is the first exploration work carried out at the highly prospective zone.

Weekly gain: 19.23 percent; market cap: C$12.16 million; share price: C$0.155

Goldstorm Metals is an exploration company focused on advancing its flagship Crown gold-silver property within the prolific Golden Triangle in BC, Canada. The property is composed of seven concessions across 16,4469 hectares in a region that hosts several large operations, including Newmont’s (TSX:NGT,NYSE:NEM) Brucejack mine.

Exploration at the Crown project has so far been concentrated on four primary project areas — Orion, Fairweather, Delta and Electrum — with large portions of the property being unexplored.

The company's most recent news came on July 31, when it announced the start of diamond drilling at the Electrum area of Crown. Phase 1 of the program will see the completion of 1,200 meters of drilling, starting with three drill holes testing a dome-shaped target on the southern portion of the property.

This drilling is building on results from Goldstorm's 2023 exploration program, during which drilling "discovered both high-grade vein-type and porphyry style gold-silver mineralization." The first was seen in a hole that encountered 57.34 g/t gold and 214.27 g/t silver over 2.1 meters, and the second in a drill hole that graded 0.77 g/t gold and 4.43 g/t silver over 110 meters, including 1.13 g/t gold and 6.02 g/t silver over 61.5 meters.