The mining industry has been in the headlines ever since the price of gold hit all-time highs this August. While the expenses to commercially mine for gold are relatively high, once a miner gets up and running with a consistent supply out of a location, with prices at these levels, they are in a very good position to capitalize on their hard work.
Canarc Resource Corp. (OTCQB:CRCUF) made headlines mid-way through the session after it announced their Optionee Ophir Gold Corp. has released results of their recently completed surface exploration program at the Lightning Tree property in Idaho.
According to the release, this field work is the first exploration of the Lightning Tree Property following completion of the acquisition and amalgamation into the Breccia Gold property. The new mineralized vein system at the Breccia Gold Property showed samples of up to 669 gpt Au ad 27.5 gpt Ag.
All Geology aside, the results seemed to excite traders as they grabbed shares up to $0.1222/share (+4.44%) following the news. This move is a strong continuation of the uptrend the stock has seen since its 52-week low of $0.02/share.
