12:39 PM EDT, 06/18/2021 (MT Newswires) -- ArcPacific Resources Corp. (ACP.V) on Friday slipped 38.3% on last look after reporting an update on initial results for the first four holes completed at the Rickard gold project near Timmins, Ontario.
Holes one through four showed gold present in anomalous values of less than 1 gram per ton and up to 0.32 grams per ton over 1 meter, according to a news release. The anomalous samples occur within zones of quartz-carbonate veining and albite-sericite-silica alteration showing a direct relationship between secondary fluid input and anomalous levels of gold.
This indicates that gold is being carried in the hydrothermal system but not being deposited in appreciable concentrations in the area of these initial holes, the company said.
Anomalous levels of iron sulfides, copper sulfide, molybdenum, and tellurium are also present in the veining and alteration.
Price: 0.11, Change: -0.06, Percent Change: -35.29