President Martin Kostuik said the results would be a cornerstone in the upcoming Copperstone resource.

"We are progressing well on all fronts to fully realise the numerous accretive aspects of the project to complete the Copperstone project pre-feasibility study by the end of this quarter," he said.

The permitted project produced more than 500,000 ounces from an open pit between 1987-1993 and contains infrastructure including underground development, a tailings facility and processing plant.

The Copperstone Zone, down dip of the openpit, has a 2010-established indicated resource of 313,000oz.

Results last month extended the Footwall Zone's mineralisation by 255% and discovered a separate mineralised zone.

The company had C$5.2 million in working capital at the end of December and has said achieving and maintaining a strong balance sheet remained a top priority after a posting a strong turnaround last year.

Shares have ranged between C11.5-41c and closed up about 6.7% yesterday to C24c.