Dumont Nickel Inc. shares were trading hands at a furious pace this morning on the Toronto Venture exchange after the company announced that it has recently acquired a series of mineral properties in Alberta and Saskatchewan to pursue exploration and development of metal enriched black shales over a significant land position.

Dumont stock was up 60% or 3¢ to 8¢ at 10:30 a.m. ET on volume of more than 7 million, well above the trading average.

The company has acquired a 1,522 square kilometre land position in northeast Alberta, overlying near-surface black shales which are locally enriched in uranium, molybdenum, nickel, vanadium, zinc, cadmium, cobalt, silver and gold.

In Saskatchewan, the company acquired a 921 square kilometre land position with specific focus on uranium. – Financial Post