Greenhawk Resources Inc (OTCMKTS:VGGOF) Stock Takes a Hit: What’s The Buzz?
Shares of Greenhawk Resources Inc (OTCMKTS:VGGOF) closed sharply lower on Tuesday on high volume.
Market Stats
On Tuesday, VGGOF stock plunged 72.61% to $0.0630 with more than 1.72K shares, compared to its average volume of 3K shares. The stock has moved within a range of $0.0630 – 0.0667 after opening trading at $0.0667.
Greenhawk Commences Logistical Planning for 2022 Exploration Activities
Greenhawk Resources Inc (OTCMKTS:VGGOF) on January 4, 2021 announced commencing logistical planning for 2022’sexploration activities at the Storø Project in Greenland.
The company owns 100% of the project and the potential of the license has been shown through several sampling and exploration campaigns.
The most suitable location is the Qingaaq Mountain area, where exploration was done between 2005 and 2015.
The work will be focusing on more drilling in the Qingaaq area for improving data density in the main zone with the primary objective to augment the mineral resource base. Furthermore, future drilling is aimed at investigating potential down-plunge extension as well as improving geological controls on mineralization within known gold-bearing structures.
Approach to exploration has been a progression from reconnaissance mapping as well as a sampling of scree beside stream sediments and outcropping for determining areas with anomalous gold.
Historic exploration till data has shown that the two main areas identified are Qingaaq Mountain and Aappalaartoq Mountain and two mineralized structures identified and sampled on Qingaaq Mountain – Main Zone and BD Zone.
Located about 40 km northeast of Nuuk, capital of Greenland, the Storø Gold Project hosts an inferred mineral resource of 885,000 tonnes at a grade of 3.4 g/t gold. Devoid of vegetation and overburden, it facilitates exploration.
The firm will carry on developing a structural model for the Qingaaq area.
Traders Corner
VGGOF stock is trading below the 10-Day and 20-Day Moving averages of $0.0750 and $0.0670 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.1521.
