Walker River Resources Corp. (TSXV:WRR) (OTC:WRRZF) stock is up 184% already in 2019. The Vancouver-based mining company has had quite a run this year. Today, we’ll take a closer look at the company itself and why its stock has boomed this year.
Walker River Resources
Walker River is an exploration stage company that explores mineral properties in Canada and the US. The company was incorporated back in 2010 and was formerly known as Rhino Exploration Inc. Currently, Walker River Resources is a subsidiary of Rhino Resource Partners Lp. The company has 100% interest in a mineral property in Nevada and two in the province of Quebec.
Gold Discovery at Lapon Canyon
On January 30th, Walker Resources announced initial drill results at its Lapon Canyon project. This project is located in Nevada. These results were for its late-2018 reverse circulation drill program. Hole LC18-29 returned “31.1 g/t Au (uncut) over 13.7 meters including 198 g/t (uncut) over 1.5 meters and 78.1 g/t (uncut) over 1.5 meters.”
It remains unknown at this time why the stock has suddenly begun to spike, but it may just be investors finally catching wind of the company’s movements.
During the announcement, Michel David, President of Walker River, said:
“We are very excited and encouraged by these and past drill results which confirm the potential of the project. Most of the holes drilled in the Lapon Rose zone have returned significant gold grades and widths. We have also extended the strike length and width of the gold mineralization in Lapon Rose and have also shown that the gold mineralization is present over 400 vertical meters […] We will continue our exploration at Lapon and are excited about the future at this project.”
Walker River Stock Movement
According to Yahoo Finance, the stock has begun to climb on both US and Canadian markets since the beginning of the year. At the time of writing, WRR is trading at $0.18 a share, up +$0.03 (+20.00%). The stock is up over 184% on the TSXV this year.
On the OTC, WRRZF is trading at $0.134 a share, up +$0.02 (+24.07%). Year-to-date, the mining stock is up 63%.
Featured Image: DepositPhotos © michaeljung