Shares of Eskay Mining (OTCMKTS:ESKYF) ended sharply higher in the previous session.
Market Reaction
On Wednesday , ESKYF stock soared 18.93% to $2.45 with more than 195K shares, compared to its average volume of 78.5k shares. The stock has moved within a range of $2.2100 – 2.5000 after opening trade at $2.21.
Eskay Mining Receives Long High-Grade Assay Results from TV
Eskay Mining (OTCMKTS:ESKYF) on January 19, 2022, announced the third tranche of assay results from the diamond drill campaign of Summer 2021. This comes from the 100% controlled Consolidated Eskay precious metal-rich volcanogenic massive sulfide project, British Columbia.
The results below are a reflection of eight holes from thirteen holes and TV deposit of Jeff Deposit ensuring the number of completely examines holes to 56 of the ninety-eight drilled during the initiative.
Dr. Quinton Hennigh, technical advisor and director of Eskay Mining said that the recent assays from finished drilled holes include lengths and grades and the Hole TV21-67 yielded a remarkable intercept. Hennigh added that high-grade results from feeder mineralization will be good for the discovery of high-grade VMS mineralization. The technical advisor and director added that there are indications of a potential high-grade VMS system.
Dr. John DeDecker, Eskay Mining’s VP of Exploration, said that the results of the 2021 program is showing that Jeff and TV are components of a bigger VMS system focusing on TV.
DeDecker added that the firm has identified multiple mineralized stratigraphic horizons and reflects that mineralization is consistent. He added that the most remarkable is the stockwork mineralization extending and improving in grade and continuity down-dip even as the zone currently is open along strike to the north and south.
Traders Review
ESKYF stock is trading above the 20-Day and 50-Day Moving averages of $2.14 and $2.22 respectively. Moreover, the stock is trading above the 200-Day moving average of $1.96.
