Pacific Ridge Exploration (PEX, $0.09 +58.3% Vol: 353,800)
Shares Outstanding: 31,023,384
Pacific Ridge announced today that it has commenced an 1,800 meter drill program on its TL Zinc project located 80km NE of Vernon, B.C. The TL property, acquired in August 2016, is a 6,420-hectare, road-accessible zinc-lead-silver project is 125 south of Imperial Metals Ruddock Creek deposit. Zinc is once again in the spotlight, as the price of zinc has performed well since the beginning of the year – up over 80% since January 1st. Long-term forecasts are bullish due to declining reserves and a lack of new supply coming on stream. Pacific Ridge also holds gold projects in Nevada and the Yukon.
PurePoint Uranium (PTU, $0.13 +23.8% Vol: 3,272,600)
Shares Outstanding: 180,646,475
PurePoint is exploring a number of uranium (U308) projects in elephant country, Canada’s Athabasca Basin. The company’s current focus is on the Hook Lake prospect, which is jointly owned by Cameco (39.5%), Areva (39.5%) and PurePoint (21%). The JV is planning a 11,000 meterm $4.5 million drill program in 2017, designed to further delineate the Spitfire discovery and to follow the associated mineralized structure toward the northeast. Uranium bulls are encouraged by Cameco’s recent stock performance, rising 40% since it’s November low of $10.
Nexus Gold (NXS, $0.095 +18.8% Vol: 814,400)
Shares Outstanding: 96,633,463
Nexus is exploring Burkina Faso’s Greenstone belt for near surface, high grade deposits. It’s flagship project is the 38.8 square km. Bouboulou Gold Concession, located 75 kilometers north-west of the capital Ouagadougou and is accessible by paved road. Nexus also recently acquired the 178 square km Niangouela concession. The project features characteristics strong enough to prompt an immediate drill program, which the company has commenced preparing (Dec 8 news). Burkina Faso is a mining friendly nation, and host to several multi-million ounce low cost deposits. Active mining and exploration company’s in the country include Endeavour Mining (EDV, $22), Orezone (ORE, $90 million market cap) and Roxgold ($500 million market cap).