5 Top Weekly TSXV Performers: Copper Lake Moves Higher on Drill Results

1. Copper Lake Resources

Copper Lake Resources controls assets in Ontario, Canada. Its properties include Marshall Lake, a volcanogenic massive sulfide copper-zinc-gold project; and Norton Lake, a palladium-rich nickel-copper-cobalt project.

Last Tuesday, the diversified explorer reported the intersection of “significant new” copper-zinc sulfide mineralization as part of diamond drilling currently underway at Marshall Lake, located near Thunder Bay.

The exploration company also updated shareholders on the recent exercise of 18,413,333 warrants at C$0.05, which raised C$920,667 in funding earmarked for ongoing exploration, as well as ground geophysical surveys.

Shares of Copper Lake added 61.09 percent for the first week of 2022, ending the session at C$0.18.

2. Quantum Minerals

Quantum Minerals (QMC) is a diversified exploration company focused on the acquisition, exploration and development of resource properties.

Presently, QMC’s property roster includes the Irgon lithium mine project and two volcanogenic massive sulfide properties, the Rocky Lake and Rocky-Namew projects; all are located in Manitoba, Canada.

QMC has not released any recent news, although it filed various documents on SEDAR at the end of December. Company shares were up 57.5 percent last week to hold at C$0.11.

3. Arrow Exploration

Energy firm Arrow Exploration has a portfolio of Colombian oil assets that the company describes as “underexploited (and) under-explored.” The company also has a natural gas project in Alberta.

In mid-December, Arrow reported that the West Pepper gas well, located near Edson, Alberta, had come online with a production rate of 1,030 barrels of oil equivalent per day.

“Production initiation at the West Pepper well represents a step change in our overall production profile. The well is expected to generate significant additional revenue and cash flow for the company going forward,” Marshall Abbott, Arrow Exploration’s CEO, said in a statement.

Shares of Arrow had risen 43.67 percent by Friday to end the session at C$0.16.

4. Southern Energy

Southern Energy is a natural gas exploration and production company with a focus on developing conventional natural gas and light oil resources in Mississippi, Louisiana and East Texas.

At the end of 2021, Southern Energy made several announcements, including a plan to issue 1,009,206 new common shares to holders of its 8 percent convertible unsecured subordinated debentures.

Additionally, the energy producer reported an application for the admission of 1,009,206 new common shares to trade on the London Stock Exchange.

By Friday, shares had added 41.97 percent for the week and were priced at C$0.24.

5. Playfair Mining

Committed to base metals discovery, Playfair Mining is exploring the RKV project for copper, cobalt and nickel.

In mid-November, the exploration firm updated investors on the completion of drilling on a second target at the Norway-based RKV asset. One of the highlights from the statement is:

“Storboren drillhole STB-21-07 encountered at least 6 sulphide zones ranging from 20 cm to 1.5 metres wide within a previously unknown ultramafic intrusive. Sulphides are mostly pyrrhotite with lesser pyrite and chalcopyrite.”

The first week of January saw shares of Playfair climb 38.24 percent to end the trading session at C$0.14.