The sun is shining again on markets, including small-cap markets, and particularly in mining circles.
Monday, investors learned that Vancouver-based Silver One Resources Inc. (TSX-Venture:SVE) reported initial results of the ongoing diamond drill program at its Candelaria project, Nevada.
SVE’s news release revealed that drilling completed to date consists of a total of 2,295 metres drilled in seven holes. Assays of five holes received have confirmed high-grade silver mineralization below and north of the Mount Diablo pit limits and the down-dip continuation of the mineralization north of the Mount Diablo pit.
One high-grade down-dip intercept in hole SO-C-19 047 returned 1,129 gm/t silver over eight metres true width, within a 27.62-metre interval that averaged 350 gm/t silver.
Whether out of relief for general upward momentum or excitement for the news, or a combination of both, Silver One reached for the stars early Monday afternoon, climbing 5.5 cents, or 22.9%, to 29.5 cents, on volume of 420,000 shares.
