Joshua Gold Resources Inc. (OTCPink: JSHG) stock rose impressively on Wednesday as it recorded rise of 12.63% to conclude the session at $0.0856. Over the last week, the performance of Joshua Gold stock was -12.30% compared to its monthly performance of 5.68%. News of a gold recovery in bulk samples at a Canadian location triggered an increase in JSHG stock price.
What did JSHG discover?
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Joshua Gold Resources is a publicly-traded gold and mineral exploration company based in the United States. Headquarter of JSHG in Canada is located in the heart of the huge Canadian Shield which has a wealth of minerals ranging from nickel, copper, niobium, cobalt, chromium, and gold.
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Joshua Gold Resources announced Tuesday that it has completed the analysis of bulk samples for gold recovery from minerals on the Kenty property.
- The property in question is located about 125 km southwest of Timmins, Ontario.
- Kenty mine site was a small parcel of mining patents where the bulk sample was taken.
- A gold-bearing quartz vein, two shafts, and extensive underground workings have been part of the property since the 1930s.
- Hopkins Vein #2, a typical 2-4″ wide quartz vein system running north-south in a trench located approx. 150 meters north of Shaft #1, was identified through prospecting and sampling in July 2020.
- The samples from Vein #2 assayed 23.8 grams of gold per ton of mining.
- Grass-lined sluices lined with miner’s moss were used as gravity concentrators in the search for gold.
- This sluice was placed between the cyclone and the slurry pump; it was followed by the coarse sluice.
What could JSHG possibly gain?
Anklenite, quartz, pyrite, nacre, and lesser chalcopyrite characterize mineralization in the bulk sample which was collected in a pile of blasted material that was harvested from an underground mine of a previous operator. The sampling of data by Joshua Gold Resources (JSHG) indicates a noticeable gold and other mineral resource base that could result in higher profits for JSHG.