Baroyeca Gold & Silver Inc (OTCMKTS:BRYGF) Stock Continues to Move in a Narrow Range: What Next?
Baroyeca Gold & Silver Inc (OTCMKTS:BRYGF) stock continues to trade in a narrow range over the past week. How will the stock perform this week?
Market Action
In the previous trading session, BRYGF stock ended marginally at $0.15. A total of 85K shares traded for the session hands, compared to its average volume of 4.7K shares. The stock opened at $0.16 and moved in a range of $0.1500 – 0.1600.
Recent News
Baroyeca Gold & Silver Receives Final Permits to Commence Phase 1 Drill Program at the Atocha Project in Tolima, Colombia
Baroyeca Gold & Silver announced it has received all necessary permits to commence its phase 1 drilling program at its flagship Atocha high-grade silver project in Tolima, Colombia, and secured a drill contract with Perfotec SAS of Bogota, Colombia.
Baroyeca will focus its initial 2,000m phase 1 drilling program at the La Ye vein system using multiple drill platforms to follow the vein trend along strike. It is anticipated to target several stacked and closely-spaced parallel silver-rich veins identified at surface. Drilling will help characterize these veins at depth as well as the distribution of the high-grade silver (and gold) zones found at surface. The drilling program is not limited to 2,000m, and depending on results and funding, the company intends to keep stepping out to the west and testing other targets as land permits are obtained.
Baroyeca has produced a succession of encouraging results this year from surface exploration and channel sampling, particularly at the La Ye vein system, a zone comprised of three parallel vein zones over a width of 250m. The northernmost vein is well exposed and appears to be a high-grade shoot with silver values from rock chip samples collected at surface returning up to 948.2g/t AgEq. The central part of the system is comprised of three large parallel veins and several low angle associated vein sets. The best sampling results have come from an exposure of the vein along the San Antonio creek in the north-facing slopes with assay results from rock chip samples returning bonanza grades of 2,544g/t Ag in one vein and 1,317g/t Ag in a parallel vein. Other samples returned more than 300g/t Ag (see previous corporate press releases).
Key Quote:
Raul Sanabria, P.Geo., President of Baroyeca commented: “We are so excited to finally see the drill on the property to follow up on the very encouraging results from our field mapping and prospecting campaign. Atocha hasn’t seen any previous historical or modern exploration and Baroyeca is the first company to test the true potential of this area. We have been impressed by the quality of the structures and the quantity of our showings we have found through surface exploration and so we are confident that drilling will prove at depth what we already see at surface as we delineate the true extension of this vein system.”
Trader Notes:
BRYGF stock is looking weak as it is trading below all the key moving averages with 50-day and 200-Day SMA stand at $0.1796 and $0.2195 respectively. The stock has lost 38% over the past 6-month. The RSI stood at 37.
