Avanti Mining Inc. (AVT.V) is getting a small boost, with shares climbing to 19.5 cents each today after saying initial assays from the first 10 holes at its Kitsault Mine molybdenum project in northwest British Colombia found significant levels of molybdenum, including one hole intersecting 252 metres averaging 0.077% molybdenum and 4.7 grams per ton silver.
Avanti executives said the recent drilling was intended to better define the northwestern portion of the deposit and to convert inferred resources into indicated resources. Kitsault is a previously operating molybdenum mine located north of Prince Rupert in British Columbia. Avanti completed a feasibility study at the mine late last year, finding 232.5 million tons of proven and probable molybdenum reserves averaging 0.081 percent.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
