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?
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.
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.