Fabled Silver Gold Corp (OTCMKTS:FBSGF) Stock Sees Selling Pressure At Higher Level

Yesterday, Fabled Silver Gold Corp (OTCMKTS:FBSGF) was in the news cycle after it made an announcement with regards to the results related to the surface diamond drilling work at its Santa Maria property located in Parral in Mexico. It was a part of the 14400 metre drilling programme at the property.

Market Action

On Tuesday, FBSGF stock ended flat at $0.0766 with 2.6K shares, compared to its average volume of 160k shares. The stock has moved within a range of $0.0766 – 0.0766 after opening trade at $0.0788.

Fabled Definition Drilling Continues to Define Santa Maria Structure

The highlights from the results did not seem to lead to any particular optimism from investors and the stock actually suffered from a selloff. The Fabled Silver Gold Corp stock declined by as much as 3% yesterday and it now remains to be seen if it can make a recovery any time soon.

The Chief Executive Officer and President of the company, Peter J Hawley spoke about the matter as well. He noted that it was particularly interesting that the gold values found in the previous drilling programmes to the east of the site had shown a reduction. That finding may have been one of the major reasons behind the selloff in the stock.

At this point in time, it may be a good move to keep an eye on the stock and see if investors flock to it again in the coming days.

Key Quote

Peter J. Hawley, CEO and President, remarks, “Planned definition hole SM20-45 was designed to fill in a drill poor gap in the past resource area. Of interest to note is the lack of or decrease of gold values found in previous drilling to the east and at depth. See Figure 1 below.

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