It has not been a particularly great time for investors in Sassy Resources Corporation (OTCMKTS:SSYRF) in the past week considering the fact that the company’s stock suffered from a selloff and went down by as much as 8%. Despite the poor performance of the Sassy Resources stock, it ought to be noted that on Thursday the company was in the news after it made a major announcement with regards to its Gander North Project.
Market Action
On Thursday, SSYRF stock moved down 1.26% to $0.3925 with 42K shares, compared to its average volume of 29K shares. The stock has moved within a range of $0.3905 – 0.4197 after opening trade at $0.3905.
Sassy Identifies New Regional Gold Trend In Gander Gold Belt
Sassy Resources announced that the soil geochemistry studies that had been conducted initially from a range of areas in the project had displayed undiscovered gold trend.
Such an announcement is a positive one for the company but it did not lead to any move in the stock yesterday. It now remains to be seen if the Sassy Resources stock can manage to come on to the radars of investors one way or another in the coming days or not.
The study displayed clusters of high grade gold in as many as 58 assay samples and that is something that one needs to have in mind when considering the stock at this point in time. It might be a good idea to keep an eye on Sassy Resources today.
Key Quote
Mr. Shawn Ryan, Sassy Technical Adviser, stated: “These first pass soil results across broad areas of previously untested Gander North are exceptional for Newfoundland. They demonstrate that this impressive magnetic target (38 km x 10 km) represents either completely new regional structures just 25 km east of the Appleton trend that hosts the New Found Gold and Labrador Gold discoveries, or inboard sub structure(s) 12 km east of the GRUB line (Gander River Ultramafic Belt). Either scenario means Gander North is prime hunting ground for new high-grade discoveries in the Central Newfoundland Gold Belt, another example of the island’s vast under-explored potential for new deposits.”
Traders Note
SSYRF stock is trading above the 20-Day and 50-Day Moving averages of $0.4512 and $0.4094. Moreover, the stock is trading is the neutral zone with RSI stands at 42.
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