Home Financial Markets Penny Stocks What Boosted WESMF Stock 42% Yesterday?

What Boosted WESMF Stock 42% Yesterday?

The market cap of West Mining Corp (OTCPINK: WESMF) reached $41.58M after seeing a rise of 42.42% that closed the last session at $0.79. 752K shares of WESMF stock were traded recently, more than the 4K that was traded on an average daily basis over the past 30 days. Further, trades in WESMF stock have been carried out between $0.766 and $1.000. WESMF conducted a recent survey on gold mining projects, and the rally was prompted by this news.

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How did the survey come about?

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West Mining Corp has a portfolio of highly prospective projects in mining camps around the world that attract attention from potential investors. At Kena, WESMF’s flagship project, there is exploration activity in all directions and at depth. Kena is a gold and copper project that has extensive exploration history, with over 37 kilometers of drilling, along with 20 years of modern exploration. In British Columbia and New Brunswick, West’s other gold projects are near gold discoveries that have occurred in the past few years.

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Iron mask Exploration Services Ltd. has been engaged by West Mining Corp. to conduct drone-based photogrammetry and LiDAR surveys, announced West Mining in a press release yesterday.

In addition, all of Junker’s minerals were analyzed on a comprehensive geochemical profile on its 100% owned property in British Columbia’s “Golden Horseshoe” district.

  • These explorations are designed to follow up on historical gold and copper anomalies at the Junker Property.
  • Several historic gold mines are located in the “Golden Horseshoe” district of British Columbia, including the Lawyers Mine owned by Benchmark Metals Inc. and the Kemess South Mine owned by Centerra Gold Inc.
  • At the Kemess South Mine, history shows that the plant produced 92 million grams of gold, 4.8 million grams of silver, and 335 kilos of copper from 2.29 million tons milled.
  • A total of 5.4 million grams of gold and over 113 million grams of silver were produced from 570,000 tons of mining at the Lawyers Mine from 1989 to 1992.
  • Drilling by Benchmark at the Lawyers project (see News Release dated 3172021) returned 52.91 meters of 5.95 grams per troy ounce gold and 130 grams per ounce silver and 4.47 meters of 58.72 grams per troy ounce gold.
  • One stream sediment sample collected as part of the Regional Geochemical Sampling Program that exceeds the 99th percentile gold contains an initial spark of interest in the Junker Property.
  • The stream sediment samples near Lawyers, Kemess, and Baker mines produced similar signatures with gold concentrations near the 98 and 99 percentiles.

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What is the WESMF trying to get?

Through the use of hand-held XRF technology and drone-enhanced LiDAR technology, West Mining Corp (WESMF) will significantly advance the project and that will make WESMF able to identify drilling targets quickly.

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