4:05pm: Canagold Resources, Orford Mining (TSX-V:ORM) shares add to gains late afternoon
Canagold Resources closed up 20% at $0.24, while Orford Mining surged 59% to $0.135, Satori Resources finished 88% higher to $0.075, and Royal Helium ended up 3% at $0.335.
11:50am: Canagold Resources, Orford Mining (TSX-V:ORM) shares advance sharply
Canagold Resources Ltd (TSX:CCM, OTCQB:CRCUF) shares climbed 15% to $0.23 on Monday after the gold exploration company announced assay results for 21 drill holes from the recently-completed 9,000-metre (m) drill program at its 100% owned New Polaris Gold Mine project in British Columbia, which included 53.8 grams per tonne (g/t) gold over 2.78m from 63.92m down hole.
Canagold added that the results have confirmed the high-grade and near-surface gold potential of the Y-Vein System at New Polaris.
As well, shares of Orford Mining (TSX-V:ORM) Corporation gained 12% to $0.095 as the junior explorer said it has completed an extensive review of geochemical data both on its properties and in the area surrounding its Qiqavik Gold property and West Raglan Nickel Copper PGM property in the Nunavik Region of northern Quebec, saying several areas were identified as having “significant” lithium potential within the Qiqavik Gold property.
Orford noted it has also identified lithium potential on areas proximal to its Qiqavik and West Raglan properties and have staked 804 new claims totaling 334 square kilometres in several properties including Vault, Radiant, Ampere, Electrode, KWatt and Wire.
Satori Resources Inc (TSXV:BUD), meanwhile, reported that former Goldcorp Inc CEO Rob McEwen will become Satori's largest shareholder, owning 37.6% of the company with the objective of expanding the high-grade gold zones at the past-producing Tartan Lake Gold Mine in Manitoba. Satori Resources stock moved up 100% to $0.08 following the announcement.
And, Royal Helium Ltd (TSX-V:RHC, OTCQB:RHCCF) shares rose 6% to $0.345 on Monday after the helium lands developer told investors it has received and signed binding commitment letters with the Business Development Bank of Canada (BDC) and Canadian Western Bank (TSX:CWB) (CWB) acting pari passu for a non-revolving credit facility of C$15 million.
READ: Royal Helium says Steveville helium plant is fully funded with execution of binding commitment letters for $17.5M in credit facilities
The company said the proceeds of the credit facility will be used for the development of production facilities, currently under construction, for the Steveville helium field in southern Alberta.
Contact Sean at sean@proactiveinvestors.com