4:05pm: Goldstorm Metals, Logiq adds to gains late afternoon
Pacton Gold jumped 41% to close at $0.295, while Goldstorm Metals ended 29% higher to $0.36, Zacatecas Silver finished up 8% to $0.68, and Logiq climbed 13% to $0.37.
1:50pm: Pacton Gold, Goldstorm Metals shares surge
Pacton Gold Inc (TSXV:PAC) shares jumped 57% to $0.33 on Thursday after the junior explorer provided an update on the status of the acquisition of the district-scale Adeline copper project in Labrador, saying the project contains hundreds of significant copper targets over a sedimentary belt measuring 40 kilometres (km) by 15 km, demonstrated ore grades and thicknesses at several prospects encountered by reconnaissance drilling, and is accessible for exploration and development.
As well, shares of Goldstorm Metals Corp (TSXV:GSTM) powered 23% higher to $0.345 as the precious and base metals exploration company said Skeena Resources Limited has invested $1,652,000 in Goldstorm via a non-brokered private placement at $0.26 per unit.
Goldstorm also noted that geological field crews have completed mapping and sampling programs on the company’s Electrum and Crown properties in British Columbia’s Golden Triangle region to determine prospective drill targets.
Zacatecas Silver Corp (TSXV:ZAC), meanwhile, revealed its initial mineral resource estimate for the Esperanza gold project in Mexico, which showed an estimated Measured & Indicated resource of 30.5 million tonnes of 0.97 grams per tonne (g/t) gold equivalent, or 956,000 gold equivalent ounces, plus an Inferred resource of 8.7 million tonnes at 0.98 g/t gold equivalent, or 276,000 gold equivalent ounces. Zacatecas Silver stock moved up 5% to $0.66 following the announcement.
And, Logiq, Inc (OTCQX:LGIQ) shares gained 10% to $0.36 on Thursday after the provider of digital consumer acquisition solutions announced that it has signed a non-binding letter of intent to acquire a privately-held operating company in exchange for newly issued Logiq shares for 100% ownership.
READ: Logiq signs letter of intent to acquire privately held company
Logiq added that the private company in question operates in a popular industry offering above-market secular growth potential with a preliminary confidential target valuation of between $225 million and $300 million.
Contact Sean at sean@proactiveinvestors.com