Why did this gold stock jump 31% in one day?
Read the article below to find out what led to the rise in Reyna Gold Corp shares.
Earlier yesterday at 8:53 a.m. EST,an exploration company focused on projects in Mexico, announced new drilling results.
Results are from 22 drill holes totaling 3,823 meters from its 10,000 meter drill program on its 24,215 hectares The Gloria property in Sonora, Mexico.
Hole LG-22-30 returned 59.0 meters of 1.45 grams of gold per tonne (1.45 g/t Au) from 1.2 meters to 60.2 meters at the La Republicana target, including 0 .80 meters of 21.5 g/t Au and 29.7 g/t of silver and 0.70 meters of 19.5 g/t Au and 168 g/t Ag.
Hole LG-22-028 returned 5.5 meters of 935 g/t silver (Ag) from 1.5 meters to 7 meters at Big pit (the main zone), including 1.0 meters of 4,640 g /t Ag and 0.93% copper.
To date, 30 holes (4,633 meters) of the planned 10,000 meters of Phase 1 drilling have been completed. Reyna Gold is now halting drilling as a geological study is underway. Drilling is expected to resume from mid-September to the end of this month.
Later that morning at 10:30 a.m. EST, asset manager and full-time newsletter writer “What Is Chen Buying? What Is Chen Selling?” Chen Lin spokeHe discussed his latest drill results during his The Gloria property.
Lin said, “Society thinks they are gold related on one end and silver/copper on the other end! This sounds like a very exciting discovery; the advantage is huge.
He also noted that Reyna Gold would be presenting on her panel at the Metals Investor Forum This weekend.
You can see the impact of Lin’s coverage and yesterday morning’s press release in the graph below:
Reyna Gold last closed at CA$0.17 on September 7, 2022, after opening at CA$0.13. The company has a market capitalization of C$18.19 million, 66,756,221 shares outstanding and trades in a 52-week range between C$0.12 and C$0.46. It is currently trading at around C$0.17 per share.
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