It has been a pretty tough for the AbraSilver Resource Corp (OTCMKTS:ABBRF) over the course of the past week and during that period the stock tanked by as much as 17%.
That being said, it is also important for investors to keep in mind that on Monday AbraSilver made a major announcement with regards to its Phase II drilling program at the Diablillos property located in the Salta Province in Argentina. It should be noted that the drilling activities at the property were primarily made up of three diamond drill holes made by AbraSilver at the aforementioned property.
Despite the losses suffered by the stock, it might still be a good idea for investors to take a look at some of the highlights from the results announced by AbraSilver yesterday. All the three drill holes from the program revealed considerable gold intercepts and demonstrated that the mineralization has been extended to a length of many hundreds of metres.
As a matter of fact, the mineralization area went past the boundary of the Whittle Pit as well. That was an important update and a positive one. It now remains to be seen if the update can lead to a recovery in the AbraSilver stock or not.