Induced polarization surveying results are going to be an important announcement to watch for from Silver Hammer Mining (CSE: HAMR). These results will help guide further drilling at the Silver Strand project, where the company has managed to consolidate the entire 5.5 km district.
HAMR shares recently established a key resistance point at $.395, as recent price action has shown a potential bottom at ~$.3. Shares are currently bouncing between this range, as I assume the market is waiting for further updates from the company’s surveying and drilling campaigns.
The company last shared drilling updates on August 15, stating the first hole of its 11 hole program was completed. 1,100 meters of drilling is currently planned, with the ability to expand the program depending on core observations and initial assay results. I expect that if they are positive, we should see reports on the initial assay results sooner than later.
HAMR.c is currently trading at $.335, valued at $15.58 million.
https://ceo.ca/@globenewswire/silver-hammer-reports-on-drilling-progress-at-the-silver