Alongside cannabis, several mining penny stocks are trending today on the TSXV. Cannabis may be the hot new sector in the Canadian stock market as of late, but mining stocks and basic minerals have held popularity among investors for years.
Junior mining companies in Canada are always discovering new plots of land that hold vast basic mineral reserves.
Today, however, many mining penny stocks appear to be falling today on the TSXV.
Let’s take a closer look at one of them and its latest company developments.
Great Atlantic Resources Corp (TSXV:GR)
Great Atlantic Resources is based out of Vancouver, British Columbia. The company is an exploration company, and it engages in the exploration, evaluation, and acquisition of mineral properties in Atlantic Canada.
Great Atlantic explores for basic minerals such as gold, silver, lead, zinc, copper, tungsten, and antimony. The company was incorporated back in 1997 and was formerly known as Greenlight Resources, Inc. but changed its name back in June of 2012.
The mining penny stock announced yesterday that is has received its first analytical results from its 2018 exploration program at its Golden Promise Gold project. This gold exploration took place in Central Newfoundland, Canada.
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The highlights of the findings included:
- Soil sample assayed as high as 77 PPB Gold.
- 570 Meter soil line, all samples anomalous for Gold.
- A brand new target area, never been drilled.
- Located four km east from Linda—Snow White Vein multiple drill intercepts, including one of 19.5 G/t Gold over 1.15 meters.
- 20 km west from the Jacklyn Main Vein multiple drill intercepts, including one of 93.7 G/T Gold over 1.4 meters.
Despite the positive news yesterday, the mining penny stock has corrected and is trading downward.
GR TSXV Stock Movement
According to Yahoo Finance, the mining penny stock is currently trading at $0.095 a share, down -$0.02 (-17.39%).
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