4:05pm: Pacific Ridge Exploration pares losses, Troilus Gold adds to gains
Pacific Ridge Exploration ended down 13% to $0.35, while Infinity Stone Ventures closed up 8% to $0.215, and Troilus Gold stock finished 12% higher at $0.55.
12:15pm: Pacific Ridge Exploration drops, Troilus Gold climbs
Pacific Ridge Exploration Ltd (TSX-V:PEX) (TSXV:PEX) shares sank 23% to $0.31, on volume of more than 1.4 million shares, Wednesday after the copper-gold exploration company announced that drill hole KLI-22-041 returned 588.0 metres (m) of 0.41% copper equivalent, or 0.56 grams per tonne (g/t) gold equivalent, including 278.0m of 0.67% copper equivalent from the Kliyul copper-gold porphyry project in British Columbia.
As well, shares of Infinity Stone Ventures Corp (CSE:GEMS) (Infinity Stone Ventures Corp (CSE:GEMS)) rose 10% to $0.22 as the company said it has discovered “economically-encouraging” rubidium, beryllium, and lithium mineralization in Fall 2022 surface and channel sampling of its Buda lithium project near Thunder Bay, Ontario.
Assays included up to 367 parts per million (ppm) lithium, 2,090 ppm rubidium, and 4,200 ppm beryllium, and channel samples up to 1,408 ppm rubidium over four metres.
READ: Infinity Stone Ventures reveals encouraging lithium sample results at its Buda project in Ontario
Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF) (Troilus Gold Corp (TSX:TLG, OTCQX:CHXMF)), meanwhile, reported that it has agreed to sell a package of 1,824 claims, which represents an area of approximately 985 square kilometres, to a subsidiary of Sayona Mining Limited in consideration for about C$40 million worth of Sayona stock. Troilus will also retain a 2% net smelter returns royalty (NSR) on all mineral products extracted from the claims.
The junior miner also said Sayona has agreed to subscribe for approximately C$4.8 million worth of Troilus common shares on a non-brokered private placement basis, bringing Sayona’s investment in Troilus to about 9.26%. Troilus Gold stock moved up 10% to $0.54 following the announcement.
And, BioHarvest Sciences (BioHarvest Sciences Inc. (CSE:BHSC, OTC:CNVCF)) shares added 8% at $0.325 after the biotech company focused on plant bio-cells growth for the nutraceutical and the medicinal cannabis markets announced that it has signed a binding letter of intent (LOI) to supply Royal Emerald Pharmaceuticals with unique compositions of cannabis in an effort to develop cures for PTSD, pain management, anxiety conditions and more.
Contact Sean at sean@proactiveinvestors.com