Strongbow Exploration (TSX: V.SBW, Stock Forum) shares jumped 37% to 13 cents on Wednesday after the micro cap miner announced results from a recent exploration program on its wholly-owned Shovelnose gold property in British Columbia, which included a 2.9 metre interval that returned 66.9 grams per tonne (g/t) gold and 75 g/t silver.

As well, shares of Sunridge Gold (TSX: V.SGC, Stock Forum) added 12% at 67 cents as the junior explorer reported assay results for the first four diamond drill holes from the 2009 drill program at its 100% owned Debarwa high-grade copper-gold-zinc volcanogenic massive sulphide deposit in Eritrea, which included 15.67 metres grading 10.21% copper and 2.01 g/t gold.

Aurcana (TSX: V.AUN, Stock Forum), meanwhile, reported third-quarter consolidated net sales of $5.2 million, a profit from operations including corporate expenses of $0.4 million, and an overall profit of $2.3 million after the effects of a foreign exchange gain of $1.9 million. Aurcana stock popped 28% to 32.5 cents.

And, Intrinsyc Software International (TSX: T.ICS, Stock Forum) Wednesday said that Destinator GPS Navigation is available on Samsung Omnia Pro smartphones in Brazil.

The Microsoft Windows Mobile based smartphones with Destinator preloaded are being sold through the dealer and retail store network of Vivo, a wireless carrier with more than 43 million subscribers. Its shares climbed 18% to 10 cents.

Source (Stockhouse)

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3. Sunridge Gold Begins New Drill Programme in Eritrea
4. Sunridge Gold Inks Strategic Partnership With Antofagasta
5. Canada’s Nevsun Gets its Eritrean Gold Mine Under Way with First Gold Pour

Gold Wave

In recent days news coverage all over the globe states that pressures metals are highly demanded, as investors continue to escape from the dollar to look for a safe haven in gold, silver and copper.

The latest headlines state that gold prices soared to their highest levels in more than a year to above USD 1.150 an ounce, as stronger-than-expected U.S. consumer prices stirred inflation worries.

The Dollar fell against other major currencies such as the Euro on Wednesday as investors took profits on the currency’s biggest rise in three weeks.

This shows the fear and insecurity of investors in respect to the length of the current recession, which is one of the toughest recessions to estimate. Therefore, investors look out for commodities such as gold until they can be very sure to spot a light at the end of the tunnel.

No doubt many new mining markets and businesses are gaining from this development, as it impacts positively their ability to raise capital and increase their share price. Since June 2009 the share price of Chalice Gold Mines increased by 2.4 times, Nevsun Resources 1.95 times and Sunridge Gold 1.65 times.

As long as the dollar remains weak, the gold price will continue to surprise the markets with record breaking levels. Only a better outlook for the global economy and an end of the recession in sight will make the dollar rise again. For gold mining companies, which are due to start operations in near future, this comes like a ride on a wave until they are ready to produce and sell the gold.

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3. Chalice Gold Raised $4.401.000 for Project in Eritrea
4. Junior Miner Surges on Gold/Silver Assays
5. Chalice Declares Maiden Gold Reserve for Eritrea’s Koka Deposit