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Spanish Mountain Gold ( (TSE:SPA) ) has shared an update.
Spanish Mountain Gold has reported strong new assay results from five drill holes at the Orca Fault target within its Spanish Mountain project in British Columbia. The latest campaign has already reached about 15,034 metres of drilling, well above the initial 9,000 to 10,000 metre plan, with additional assays still pending.
Key intercepts include hole 26-DH-1337, which cut 282.50 metres at 0.70 g/t gold, including 116.80 metres at 1.20 g/t and a 12.20 metre subset at 2.46 g/t, alongside several other wide mineralized intervals in holes 26-DH-1334, 26-DH-1335 and 26-DH-1336. These results extend higher-grade gold mineralization over a 530 metre strike and roughly 200 metre width, increasing confidence in the Orca Fault’s continuity and suggesting potential to enhance the Main deposit’s resource base and open-pit mine planning.
The most recent analyst rating on (TSE:SPA) stock is a Buy with a C$0.80 price target. To see the full list of analyst forecasts on Spanish Mountain Gold stock, see the TSE:SPA Stock Forecast page.
Spark’s Take on TSE:SPA Stock
According to Spark, TipRanks’ AI Analyst, TSE:SPA is a Neutral.
The score is held back primarily by weak financial performance (no revenue, continued losses, and ongoing cash burn with negative free cash flow). This is partly offset by strong technical momentum (price above key moving averages with positive MACD) and a conservative balance sheet with minimal leverage, while valuation is neutral-to-weak due to negative earnings and no dividend.
To see Spark’s full report on TSE:SPA stock, click here.
More about Spanish Mountain Gold
Spanish Mountain Gold Ltd. is a Canadian mineral exploration company focused on advancing its Spanish Mountain Gold project in the Cariboo Gold Corridor of British Columbia. The company targets near-surface, open-pit gold mineralization, seeking to expand and upgrade resources within its Main deposit, including the emerging Orca Fault target area.
Average Trading Volume: 833,505
Technical Sentiment Signal: Buy
Current Market Cap: C$134.7M
For an in-depth examination of SPA stock, go to TipRanks’ Overview page.