$CRVC Has Huge Potential In The Red Lake Mining Region The historic Red Lake, Ontario mining region is beginning to pick up recognition as a gold hotspot. In the past few years, there have been some big discoveries on the land, leading to the $1.4 billion dollar acquisition of Great Bear Resources (GBF:TSX.V).
Great Bear’s Dixie Project doesn’t even have a resource calculation yet, but the potential is there. It holds a wide intersection of strong gold grades and continues to grow.
This is where junior mining company Cross River Ventures Corp (CRVC:CSE) jumps onto my radar. Earlier this month, the $CRVC.C expanded its McVicar Project in the Red Lake region. The company is commencing a 5,000-meter drill program this month following up on a successful summer program that identified the new Bear Head Zone, including a 19.5g/t gold grab sample.
Given the proven potential of the region, $CRVC is sitting at a staggeringly low market cap of $10 million at the moment. Shares of $CRVC.C recently went on an 87% run to encounter resistance at $.205 and are currently heading back down to support at $.165.
If Cross River can have even a fraction of the success its counterpart Great Bear Resources had, this stock is extraordinarily undervalued at the moment. In the course of 3 and a half years, Great Bear went from being a 50 cent stock to trading at $28.4 per share. Yes, that is a 5,580% gain.
$CRVC is currently trading at $.18 and the company is valued at $10 million.
https://ceo.ca/@newsfile/cross-river-increases-mcvicar-land-package-and-updates