Yesterday, the Southern Empire Resources Corp (OTCMKTS:SMPEF) was in the news cycle after the company made an announcement with regards to a geophysical survey that it had launched at one of its projects.
Trading Data
On Tuesday, SMPEF stock ended flat at $0.1067 with more than 5.2k shares, compared to its average volume of 6.8k shares. The stock has moved within a range of $0.1067 – 0.1067 after opening trade at $0.1095.
Southern Empire Starts Airborne Geophysical Survey at Pedro Gold Project
The airborne and radiometric survey is going to be conducted at the Pedro Gold project that is owned by the company. The project is situated in the north eastern are of the Durango State in Mexico. While it is true that it was a major announcement from the company, it did not lead to any optimism among investors and the stock continued to trade in a range.
In this regard, it should be noted that Southern Empire Resources has also hired the services of the company Sevicios de IngeneriaAmbiental y Seguridad S.A. de C.V from out of Durango for the drilling initiative.
The contractor is going to involved in taking care of the 2000 metre worth of core drilling that is going to take place at the Pedro Gold Project. The nine hole programme is going to begin at some point in January 2022. At this point, it might be a reasonable move from investors to add the Southern Empire stock to your watch lists.
Key Quote
“When examined as a whole, the geological, geochemical and geophysical expressions of the HP Breccia Zone within the broad extensional tectonic environment of northwest México, present a compelling opportunity for us to discover an epithermal precious metals vein system on the Pedro Property. The predominantly vertical drill holes completed in 2014 by Newmont were designed to test for a large, Carlin-style gold-bearing system hosted by the underlying Carocol Formation sediments. Even though stratabound gold was encountered in near-surface oxidized and silicified conglomerates, none of the 10 Newmont drill holes tested the possibility for gold-bearing vein systems, the potential occurrence of which was subsequently enhanced by a 2019 Induced Polarization (IP) survey. We are very excited to drill test these targets!”
