Cerrado Gold Inc. (OTCMKTS:CRDOF) Stock In Bearish Mode: Falls 8% In a Week

Cerrado Gold Inc. (OTCMKTS:CRDOF) is down 8% in a week. The company has announced additional assay findings from the infill and exploratory drill program it is undertaking at Serra Alta claim in Monet Do Carmo Project located in Brazil.

Market Stats

On Tuesday, CRDOF stock ended flat at $1.19 with more than 4K shares, compared to its average volume of 12k shares. The stock has moved within a range of $1.1900 – 1.1900 after opening trading at $1.19.

Strong Drill Results

The exploratory/infill phase commenced in Q2 2021, and it targeted additional extension known resource areas at the Serra Alt claim with specific infill zones in the current resource.

Notably, the infill and exploration stage is a continuation of the current program commenced following the completion of the first phase drilling in Q2 2021. Also, the program is a result of updated resource findings for Serra Alta resource that currently include indicated gold resources of 541,000 Oz and inferred gold resources of 780,000 Oz drilling in H2 2021 target the Serra Alta deposit and satellite deposits including Bit 3, Capitao, Baru, Eldorado, Ferradura, Sucuri, and Magalhaes where god presence has been significantly confirmed. So, CRDOF is worth watching in the coming weeks.

Key Quote

Mark Brennan, CEO and Co-Chairman commented, “We are pleased with the ongoing drill results at Serra Alta, with results to-date supporting our view of the exceptional characteristics of the deposit. At Serra Alta, the results once again confirm the wide continuous mineralized zones proximal to the granitic contact. The remarkable results of hole FSA-164, in Pit Norte block, are relatively shallow and could represent additional early high-grade material to feed into the mine plan.”