5 Top Weekly TSXV Stocks: Gold Stocks Gain as Metal Soars Above US$2,200

Weekly gain: 113.89 percent; market cap: C$21.92 million; current share price: C$0.385

Awalé Resources is a copper and gold explorer focused on its Odienné project in Côte D’Ivoire.

The site, located in the country’s northwest, covers an area of 2,462 square kilometers across two granted permits and five under application; two are being advanced as part of an earn-in joint venture with Newmont (TSX:NGT,NYSE:NEM). Newmont has the chance to earn up to 65 percent ownership of the permits via exploration expenditures of US$15 million.

Awalé's most recent news came on Monday (March 18), when it announced it has encountered multiple high-grade intercepts at the BBM target at Odienné, including 2.5 grams per metric ton (g/t) gold equivalent over 44 meters from 131 meters downhole. In its press release, the company said a follow-up drill program will begin in April, and that assay results from the asset's Charger target are expected soon.

Shares of Awalé saw strong gains this past Wednesday alongside the surging gold price.

Weekly gain: 64 percent; market cap: C$39.39 million; current share price: C$0.41

Explorer Hannan Metals is focused on advancing gold, silver and copper deposits in Latin America.

The San Martin project is a joint venture with the Japan Organization for Metals and Energy Security (JOGMEC), a Japanese government agency established in 2004 to secure stable resources and fuel supplies. Under the terms of the agreement, JOGMEC can earn up to a 75 percent stake in the project if all its funding goals are met.

The site is located northeast of Tarapoto, Peru, and hosts a copper and silver system with 120 kilometers of combined strike. Exploration has shown grades at the Tabalosos target of 4.9 percent copper and 62 g/t silver over 2 meters.

In addition to the JOGMEC joint venture, Hannan owns a separate copper and silver project in the San Martin region that consists of 27 mining concessions over 267 square kilometers. The company’s third project, located 300 kilometers from the San Martin sites, is the Valiente project, which hosts a previously unknown porphyry and epithermal mineralized belt within a 140 kilometer by 50 kilometer area containing copper, gold, molybdenum and silver.

This past Wednesday, Hannan said it has discovered a new style of sediment-hosted copper-silver mineralization at San Martin. Highlights include 3.1 percent copper and 65 g/t silver over 5.8 meters from surface channel sampling.

Weekly gain: 53.85 percent; market cap: C$10.92 million; current share price: C$0.10

Compass Gold is advancing its Sikasso property in Mali into a small-scale mining operation.

The site consists of a 1,176 square kilometer land package that hosts four primary gold trends. To date, the company has completed 44,206 meters of drilling at the property; it has confirmed bedrock mineralization and identified four areas with open-pit mining potential: Tarabala, Massala West, Farabakoura and Samagouela.

The most recent news from Compass came on February 5, when the company said that assay results from initial trenches completed at the Massala target in September had encountered grades of 4.13 g/t gold over 20 meters, including an intersection of 19.19 g/t gold over 4 meters.

Weekly gain: 41.67 percent; market cap: C$17.1 million; current share price: C$0.085

Strikepoint Gold is a gold exploration company with a portfolio of assets located in BC, Canada, and Nevada, US.

Its Cuperite project in Nevada is located on the Walker Lane Gold Trend and is near Allegiant Gold’s (TSXV:AUAU,OTCQX:AUXXF) Eastside project, which hosts a 1.4 million ounce gold resource. This past Tuesday, Strikepoint said it has commenced drilling at Cuperite, and anticipates a 5,000 meter program across seven to 10 holes.

Strikepoint’s Canadian operations consist of the Willoughby and Porter projects, located in Northern BC; however, the company has not released news from these assets since the end of 2022.

In addition to its update from Cuperite, the company also reported this past Monday that it has closed the final tranche of a private placement, raising gross proceeds of C$2 million over two rounds. It will use the money primarily for activities at Cuperite, with additional funds going to claim maintenance, general working capital and other expenses.

Weekly gain: 33.33 percent; market cap: C$17.11 million; current share price: C$0.26

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

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 mining holdings again 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 its most recent financial and operating results, which were released in November 2023, Golconda indicated that through the first three quarters of 2023 it produced 5,025 ounces of gold from the two operations. During the third quarter, it generated revenue of US$3 million from the sale of 1,814 contained ounces of gold.

The company saw gains this week along with the surging gold price.