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Junior explorer climbs on metallurgical test results: Proactive’s daily small cap movers

Last updated: 16:05 25 Oct 2022 EDT, First published: 12:13 25 Oct 2022 EDT

Doubleview Gold Corp -

4:05pm: Pacific Ridge Exploration, Cardiol Therapeutics gains accelerate into the close 

Doubleview Gold Corp (TSXV:DBG) shares jumped 17% to close at $0.44 on Tuesday after the mineral resource exploration and development company said it has achieved 89% scandium extraction from preliminary metallurgical extraction tests on flotation tailings of its HAT Deposit material in British Columbia.

The results are an important breakthrough, Doubleview said, adding that the preliminary tests on flotation tailings in sulphate media at elevated temperatures demonstrated that 89% of the scandium could be extracted into solution.

As well, shares of Pacific Ridge Exploration Ltd (TSXV:PEX) gained 16% to $0.335, on volume of more than 1.8 million shares, as the copper-gold exploration company said drill hole RDP-22-005 returned 497.2 metres (m) of 0.66% copper equivalent, or 0.96 grams per tonne (g/t) gold equivalent, including 107.2m of 1.41% copper equivalent, or 2.04 g/t gold equivalent, from the RDP copper-gold project in British Columbia.

Pacific Ridge noted that the 2022 RDP drilling program was funded by a subsidiary of Antofagasta PLC, which can earn a 75% interest in the project by spending C$10 million on exploration over eight years and delivering a preliminary economic assessment (PEA) report.

Neighbourly Pharmacy Inc (TSX:NBLY), meanwhile, reported that its second-quarter revenue surged 97.3% year over year to C$178.9 million, while the company swung to net income of C$0.1 million from a loss of C$3.4 million during the same period last year. Neighbourly Pharmacy stock moved up 10% to $22.91 following the announcement.

In addition, shares of Cardiol Therapeutics Inc (TSX:CRDL) powered 15% higher to $0.83 as the clinical-stage life sciences company said it will prioritize its Phase II clinical programs focused on developing CardiolRx for two underserved diseases affecting the heart - acute myocarditis and recurrent pericarditis - and announced that its cash runway now extends into 2026.

READ: Cardiol Therapeutics to prioritize its Phase II clinical programs focused on developing CardiolRx for two underserved diseases affecting the heart

And, Argentina Lithium & Energy Corp (TSXV:LIT) shares added as much as 13% before ending up 2% at $0.27 on Tuesday after the lithium projects developer announced what it called positive lithium brine values from the third and fourth diamond drill holes at its Rincon West project in Argentina, which included an interval from 95m to 227m with lithium values ranging from 334 to 382 milligrams per litre over a continuous 132m interval.

11:45am: Doubleview Gold, Pacific Ridge Exploration move sharply higher 

Doubleview Gold Corp (TSXV:DBG) shares jumped 28% to $0.48 on Tuesday after the mineral resource exploration and development company said it has achieved 89% scandium extraction from preliminary metallurgical extraction tests on flotation tailings of its HAT Deposit material in British Columbia.

The results are an important breakthrough, Doubleview said, adding that the preliminary tests on flotation tailings in sulphate media at elevated temperatures demonstrated that 89% of the scandium could be extracted into solution.

READ: Doubleview Gold achieves 89% Scandium extraction from preliminary metallurgical extraction tests

As well, shares of Pacific Ridge Exploration Ltd (TSXV:PEX) gained 14% to $0.33, on volume of more than 1.4 million shares, as the copper-gold exploration company said drill hole RDP-22-005 returned 497.2 metres (m) of 0.66% copper equivalent, or 0.96 grams per tonne (g/t) gold equivalent, including 107.2m of 1.41% copper equivalent, or 2.04 g/t gold equivalent, from the RDP copper-gold project in British Columbia.

Pacific Ridge noted that the 2022 RDP drilling program was funded by a subsidiary of Antofagasta PLC, which can earn a 75% interest in the project by spending C$10 million on exploration over eight years and delivering a preliminary economic assessment (PEA) report.

Neighbourly Pharmacy Inc (TSX:NBLY), meanwhile, reported that its second-quarter revenue surged 97.3% year over year to C$178.9 million, while the company swung to net income of C$0.1 million from a loss of C$3.4 million during the same period last year. Neighbourly Pharmacy stock moved up 12% to $23.44 following the announcement.

And, Argentina Lithium & Energy Corp (TSXV:LIT) shares added 13% at $0.30 on Tuesday after the lithium projects developer announced what it called positive lithium brine values from the third and fourth diamond drill holes at its Rincon West project in Argentina, which included an interval from 95m to 227m with lithium values ranging from 334 to 382 milligrams per litre over a continuous 132m interval.

READ: Argentina Lithium & Energy welcomes latest positive lithium results from Rincon West in Argentina

Contact Sean at sean@proactiveinvestors.com

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