5 Top Weekly TSXV Stocks: Solis Rises 75 Percent on Copper Exploration Update

Weekly gain: 75 percent; market cap: C$10.98 million; share price: C$0.14

Solis Minerals is a copper and lithium explorer advancing properties in South America. Its main focus in 2024 has been its Cinto copper project in Peru. The site is composed of seven tenements covering 3,200 hectares in the country's copper belt. The asset has seen limited exploration, primarily consisting of grab samples and satellite imaging.

Shares of Solis surged this past week following an exploration update on Tuesday. It reported the completion of an initial geochemical program, which identified copper mineralization over a 200 meter by 100 meter area at Cinto, including high-grade surface grab samples grading up to 7.14 percent copper.

In addition to that, the company signed an access agreement with the Carumbraya community to fast track the next phase of its exploration program. Solis said it has already deployed drones to collect magnetometer readings, and will be using geological mapping to guide drill permitting at the site.

Weekly gain: 42.11 percent; market cap: C$21.89 million; share price: C$0.54

Trailbreaker Resources is a Canada-focused explorer and project generator with a portfolio of projects in BC and Yukon. Its flagship property is the Atsutla gold project in Northern BC. Earlier this year, Trailbreaker acquired the Liberty copper project, a 5,054 hectare property located in the Cariboo Mining District in BC. The site previously hosted limited exploration in the 1960s, with more extensive work occurring in the late 1990s to early 2010s.

The company’s most recent news release came on June 10, when it completed a diamond drill program at Liberty. In its report, Trailbreaker said the program consisted of seven holes for a total of 2,442 meters and was focused on testing a copper, molybdenum, gold and silver anomaly 300 meters south of its previous drilling at Liberty.

The company has not released news in the past week.

Weekly gain: 37.5 percent; market cap: C$91.51 million; share price: C$0.055

Africa Energy is a South Africa-focused oil and gas exploration and development company.

Its flagship asset is Block 11B/12B, located approximately 175 kilometers off the south coast of South Africa. The block covers an area of 18,734 square kilometers and depths between 200 and 1,800 meters.

Africa Energy holds a 4.9 percent stake in the joint venture project through its 49 percent ownership of Main Street 1549, which itself owns 10 percent of the asset. The remaining partners are project operator TotalEnergies (NYSE:TTE,EPA:TTE), which holds a 45 percent stake; Qatar Petroleum, which has a 25 percent stake; and CNR International (TSX:CNQ,NYSE:CNQ), which has a 20 percent stake.

In December 2020, the company announced that testing at the site had reached 33 million cubic feet per day of natural gas, 4,320 barrels of condensate per day and 9,820 barrels of oil equivalent per day, but said the figures were limited due to surface equipment limitations.

Africa Energy’s most recent news came on July 1, when the company released an update from its Block 11B/12B operations. In the announcement, the company said CNR International had advised the joint venture partners that it would be withdrawing from its 20 percent stake. The remaining partners now have 30 days to decide if they would like to withdraw as well. TotalEnergies will be reviewing its options, but Africa Energy said it will not withdraw. Interests from withdrawing partners will be assigned to the remaining parties proportionately free of charge.

Weekly gain: 37.5 percent; market cap: C$15.24 million; share price: C$0.55

Imagine Lithium is advancing its Jackpot lithium project in the Georgia Lake area of Ontario, Canada. The 18,000 hectare site has hosted exploration dating back to the mid-1950s, with historic estimates of 2 million metric tons of lithium oxide.

Imagine has been focused on the expansion of historic resources with drilling programs that started in 2018.

Since that time, the company has identified several significant zones in addition to the Jackpot Main zone, including the Casino Royale, Salo (SW), 500 and Point lithium zones.

The most recent update from the project came on May 28, when the company announced that drilling at the site had encountered the highest lithium grades to date at the Jackpot West extension. The company highlighted an interval of 0.92 percent lithium oxide over 35.1 meters, which includes an intersection of 1.76 percent lithium over 4.3 meters.

Although the company didn't release news last week, its share price was up significantly.

Weekly gain: 35.21 percent; market cap: C$98.02 million; share price: C$0.048

NorthIsle Copper and Gold is an exploration company working to advance its North Island project on Vancouver Island, BC. It hosts deposits of copper, gold, molybdenum and rhenium.

The property is located near Port Hardy and is composed of 214 mineral claims across 34,000 hectares. The site contains three primary occurrences: Hushamu, Red Dog and Goodspeed, and Pemberton Hills.

The most recent news from the project came this past Tuesday, when NorthIsle provided an exploration update from the Goodspeed target. In the announcement, the company said it has completed 3,077 meters of drilling since it began the program in May, and encountered porphyry copper mineralization over an 800 meter strike length.

Preliminary assays from the first hole produced a highlighted intercept of 0.28 percent copper and 0.384 grams per metric ton gold over 68 meters. According to NorthIsle, the hole encountered copper and gold mineralization over 200 meters starting at a depth of 9 meters.