Mountain Lake Resources (CVE:MOA)(OTC:MLKRF) Tuesday announced high-grade gold mineralization from the initial results of a spring/summer drilling program at the joint venture Valentine Lake project in central Newfoundland.

Mountain Lake Resources (CVE:MOA) (OTC:MLKRF) Thursday said it will be acquired by Marathon Gold (TSE:MOZ) in a  $15.1 million deal that will see Marathon assume 100 per cent control of the two companies' Valentine Lake joint venture in Newfoundland.

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.

Mountain Lake Resources (CVE:MOA, PINK:MLKRF) is concentrating its exploration efforts within Newfoundland, where it is actively exploring three  projects with large scale potential at Glover Island, Little River and Valentine Lake. 

A 25,000 metre drilling campaign is planned for the Valentine Lake Project this year.  The first drill rig began resource expansion drilling last week on the Leprechaun Deposit and the first 3 drill holes intersecting multiple quartz veins

Canadian shares gained a second day as energy producers climbed after positive economic reports from the U.S., the country's largest trading partner, indicated economic growth is gaining momentum, outweighing declines in mining stocks. The resource-heavy benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) added 0.4 percent to 12,557.31 at 12:33 p.m. in Toronto on Friday. Nine of ten groups gained.

If you think the pain in the resource sector is over, Rick Rule will gladly give you a reality check. But, the chairman of Sprott U.S. Holdings says being brash in a bear market where there is no competition will pay off.

Curis Resources (TSE:CUV) has arranged to raise $6 million through a non-brokered private placement financing, with funds to be used to advance the development of the company's Florence copper project in Arizona, which earlier this year yielded strong economics in a prefeasibilty report. 

Iron ore explorer Afferro Mining (LON:AFF) (CVE:AFF) said talks are continuing with would-be buyer International Mining and Infrastructure Corporation (LON:IMIC) following confirmation the latter has the funds needed to launch a bid.

Largo Resources (CVE:LGO) has garnered some impressive feedback from analysts this week, with some saying the company has the potential to become a leading supplier of vanadium in the stable jurisdiction of Brazil.