Gold, silver samples light fire under Cache Exploration
Micro-cap Cache Exploration Inc (CVE:CAY) tripled on Tuesday after samples from its BC gold-silver-copper project persuaded investors to make the share one of the most active stocks on the Toronto Venture Exchange.
By early afternoon the Toronto-based junior was trading up 200% at $0.045 on the Toronto big board, off its morning highs when shareholders enjoyed a more than four-fold return.
Around 3.3 million shares in the company which only has 24 million shares outstanding, had changed hands by 1:30 pm EST compared to the daily average of just 55,000. The counter – better known for its rare earth exploration activity – has made huge gains in 2013 – it is up 80% year to date.
Yesterday Cache released grab sampling results on its 100% owned Quinn Eskay gold-silver-copper property north of Stewart in the Stewart-Skeena mining district in British Columbia where it owns 8,400 acres.
Highlights from the vein grab sampling included 8.18 grams per tonne gold, 87.5 grams per tonne silver and 0.28% copper with quantities of lead and zinc also present, and chips from another outcrop boasting 1.26 grams per tonne gold, 151.0 grams per tonne silver and 6.78% lead.