On gold news, shares of Eagle Hill Exploration (TSX: V.EAG, Stock Forum) surged 48% to 21.5 cents.
The company announced the first drill results from its program at Windfall Lake property in the Abitibi belt in Northern Quebec. Eagle Hill said that drill hole EAG-10-196 returned “wide mineralized intervals” which included 33 metres grading 19.6 grams per tonne of gold.
The reaction on the company’s Bullboard was swift. “They just pulled one heck of a hole, 19 gram step-out over 33 meters.. This should easily break the year high soon,” said Godfather.
Deslug1 reminded the board that these were initial results, and said there would be “Lots more results coming with 10000 meter drilling underway.”
Still others questioned why the share price had not moved even higher.
“What is going on here, amazing news in Canada in the middle of a big drill program and it's at .20 cents?, wondered Junit. “Small float as well, maybe it's just going to take the market awhile to realize that this should be plus .30. Jmho Rory”