TSX-V News: Mountain Lake Resources, Selwyn Resources, Millrock Resources and more
Mountain Lake Resources (CVE:MOA)(OTC:MLKRF) Tuesday reported the completion of an initial NI 43-101 resource estimate for the Lunch Pond area of its 100 percent-owned Glover Island gold property in Newfoundland.
Compared to historical resources, the company said the NI 43-101 resource for Lunch Pond indicates a 27.8 percent decrease in grade, offset by a 57.4 percent increase in tonnage, resulting in a 14.1 percent increase in contained gold ounces.
Stonecap Securities maintained its outperform rating on Renegade Petroleum (CVE:RPL) after the oil and gas company released fiscal year end 2011 and fourth quarter results that met the capital markets firm's expectations.
The proceeds from the offering will be used to fund exploration activities in Mexico, including general working capital purposes.
Selwyn Resources (CVE:SWN) provided an update to its shareholders Tuesday on the progress of the feasibility study for its flagship Selwyn project in the Yukon, as well as the financing of the restart of the ScoZinc mine in Nova Scotia and other corporate developments.
Pele Mountain Resources (CVE:GEM)(OTCQX:GOLDF) said Tuesday that it has agreed to sell its Highland gold projects in northern Ontario to a subsidiary of Prodigy Gold (CVE:PDG) for $1.8 million in cash, along with a net smelter return royalty on certain portions of the properties.
Quantum Rare Earth Developments Corp. (CVE:QRE)(OTCQX:QREDF) said Tuesday that its CEO Peter Dickie said in a recent TV interview that the company's Elk Creek niobium project in Nebraska could cut US dependence on imports of the strategic metal.
Millrock Resources (CVE:MRO) unveiled Tuesday recent drill results from its San Jose copper project in the Safford District of southeast Arizona, and said it agreed on another drilling program at the site.
St. Elias Mines (CVE:SLI) said Tuesday that exploration on the Chance E mineral concession that adjoins the company's wholly-owned Tesoro gold project in south-western Peru will be starting in the upcoming weeks.