It wasn’t all gloom and doom on the markets today, although green chutes were harder to find. One piece of mining news crossed the wires this morning that led to an outsized price bump for a junior miner.
Shares of GGX Gold Corp. (TSX-Venture:GGX) (OTCQB:GGXXF) provided investors with an update on its active exploration program at the Gold Drop property in the Greenwood Mining Camp of south-central British Columbia.
Results were received for three prospecting samples from the Mt. Rhoderick Dhu area, located north of the C.O.D. vein. One of the surface rock chip grab samples returned significant results, with a value of 23.5 grams per tonne gold, 437 grams per tonne silver, 198 grams per tonne tellurium and 0.7% lead. This sample is from the Amandy vein, situated 1.6 kilometres south-southwest from the summit of Mount Roderick Dhu, west of Jewel Lake, and 11 kilometres north-northeast from the town of Greenwood.
This news propelled the stock to go the opposite direction of most of its peers with shares rallying 31% to $0.19 in late-afternoon trading. Today’s move also exhibits a double bottom for the chart for technical traders to continue to monitor in the days ahead.
