As prices of Cross River Ventures $CRVC/$CRVC.C show signs of consolidation around the 50MA, things are starting to look strong to see a reversal in price action.
Along with the slowing momentum of a bearish trend and price consolidation, $CRVC has announced it is set to drill at its McVicar Gold Project early this year.
The McVicar Project is 100% owned by $CRVC and its exploration targets in a prolific Archean greenstone belt with numerous high-grade gold discoveries, active mines, and past producers. Along with the promising nature of the site, $CRVC has also received all permits and the expected drill program is fully funded.
The Winter 2022 drill program will build on the successful Phase 1 field campaign reported in the $CRVC’s news release dated October 5, 2021. The Phase 1 field program confirmed the locations of historic bedrock gold occurrences. In addition, new outcropping gold mineralization was discovered.
Importantly, the 2021 fieldwork identified and outlined a new mineralized trend structure south of the historic Chellow Vein, named the "Bear Head" Zone. The Bear Head Zone is characterized by an extensive NW-trending multi-kilometer damage zone in altered mafic volcanic rocks, coincident with braided lineaments and structural breaks identified in (topographic) Lidar features as well as magnetic datasets.
There's some huge potential here for $CRVC, which leads me to believe we may be looking at a bottom in price action that could lead to some serious gains. If prices were to establish bullish price action, shares could potentially test previous highs of $.475 resulting in a potential 300% gain from current prices.
$CRVC is currently trading at $.12 and the company is valued at an MCAP of $4.24 million.
https://ceo.ca/@newsfile/cross-river-set-to-drill-mcvicar-gold-project-in-early