Gold Spring Resources Corp (OTCMKTS:GRCAF) Stock Sees Selling Pressure At Higher Level
Gold Spring Resources Corp (OTCMKTS:GRCAF) is down 16% in a month. The company has announced that in 2021 it completed drilling of around 18,076 meters in 82 drill holes at its Gold Springs project in the US. The project sits on 8,000 ha of space adjacent to the Utah and Nevada border.
Market Stats
On Friday, GRCAF stock fell 0.81% to $0.1587 with more than 1K shares, compared to its average volume of 27k shares. The stock has moved within a range of $0.1587 – 0.1587 after opening trading at $0.1587.
Gold Springs Resource Corp. 2021 Drilling Results Highlights
The “Tremor” drilling produced significant results with gold equivalents of 6.87 g/t in more than 24.4 meters, including gold equivalents of 10.9 g/t over 4.6M and the gold equivalent of 0.59 g/t over 82.3M in drill hole j-21-006. Also, hole J-21-015 revealed 1.42 g/t of gold equivalent in 33.5Min the vein, including3.26 g/t and 0.94 g/t gold equivalent in 10.7M and 123.5M respectively within the vein.
“North Jumbo“ drill results yielded 2.6 g/t gold equivalent in drill hole J-21-001 over 3.1M, including the gold equivalent of4.46g/t over 1.6M in the same hole. In hole E-21-012. E-21-004, and E-21-016 holes, the South Jumbo results showed gold equivalents of 5.47 g/t, 1.7 g/t, and 0.56 g/t over 19.8M, 9.1M, and 16.8M respectively in each respective hole. So investors should watch GRCAF.
Key Quote
Randall Moore, Executive Vice President of Exploration, stated: “2021 has been an exciting year where we made new discoveries on several of our 33 targets, especially a significant one at “Tremor”. We are very pleased with the progress we achieved at Gold Springs this past year. Our goal for 2022 is to increase the size of our 4 existing resource areas and to identify new ones with an aggressive drill program. In parallel, we will be completing baseline studies and moving the permitting process forward to de-risk the project. In the coming weeks we hope to receive the last 22 assays from our 2021 program:
Traders Corner
GRCAF stock is trading below the 20-Day and 50-Day Moving averages of $0.17 and $0.18 respectively. However, the stock is trading above the 200-Day moving average of $0.14.
