On Tuesday, Q-Gold Resources Ltd (OTCQB: QGLDF) rose 50.46 percent to $0.1801 and has remained at that level throughout the day. In the last month, Q-Gold stock dropped over -18.91%, with over 1.29K shares traded on average. In the past, QGLDF stock had risen even when there were no new developments, so there may be some assumptions about the development of new information regarding QGLDF.
How has QGLDF been recently?
Publicly traded Q-Gold is a mineral exploration company based in Canada. The QGLDF seeks to discover gold and silver deposits in several jurisdictions. In addition to the Foley Gold Mine in Mine Center, Ontario, QGLDF is exploring for silver at its Surupana Property in Puno, Peru, which is a silver-rich altiplano region.
Q-Gold recently announced its 2021 drill program at its wholly-owned Foley Gold Mine complex in Ontario.
- A QGLDF geologist has compiled extensive data on the high-grade gold vein system and modeled it 3D leapfrog using Leapfrog software over the past two months.
- With a total of 5,900 meters of NI 43-101 compliant drilling, 52.47 grams of gold have been identified over 1.5 meters and 106.7 grams of gold have been identified over 0.23 meters.
- The two-phase drill program has been finalized after this exercise.
- QGLDF’s phase 1 consists of a total of 2,745 m of approved holes that will be filled in and extended to the depth of -200 m.
- QGLDF will be able to extend and fill in the previous drilling along with the four main vein arrays of the past-producing Foley Gold Mine under the approved program.
- A total of 4,035 meters will be added to Phase 2 to make further infill holes, as well as to extend coverage laterally and down to a depth of -225 meters.
What does Foley mean to QGLDF?
QGLDF began drilling on the high-grade Foley Gold Mine property following modeling results that were encouraging. Moreover, the large land position contains a number of drill-ready targets within a variety of historic deposits, as well as enormous grassroots potential not tested with conventional exploration techniques.