Atacama Resources International (OTC:ACRL) Stock Gains 10%: Here is Why

The announcement about the start of a drilling program is almost always seen as a positive in the mining sector. On Thursday, Atacama Resources International (OTC:ACRL) came into the limelight after it announced that the drilling program had commenced at the northern portion of its Tannahill mining claim.

The claim is situated around 25 miles to the north-east of Kirkland Lake in Ontario. It was noted that this past Tuesday, the skid-mounted drilling rug had been put in place at Tannahill North, and the day after, the services necessary for the activation of the rig were finally connected. In the news release, Atacama Resources International also noted that it would share press releases with the shareholders as the mining results came in.

The Chief Executive Officer of Atacama Resources International, Glenn Grant, spoke about the latest developments as well. He noted that it was a major new development for the company. The company had commenced the drilling work at the site even as it continued to work on the total field magnetic survey and IP (induced polarization) at Tannahill South. Grant also stated that it was a monumental step for the company to have gone from merely acquiring possibly viable mining properties to conducting actual survey work and then starting the drilling work. He also pointed out that Tannahill North was one of the most highly rated mining assets for the company.

In this context, it could be a good idea for investors to get a better idea of the company as a whole. Atacama Resources International is traded on the OTC Pink Sheets and boasts of having control of considerable mining claims located in the Kirkland Lake area of Northern Ontario. The company also noted yesterday that it remained committed to being transparent to its shareholders and strengthening its position as an innovative mineral exploration entity.