Nelson Resources’ Share Price Jumps over 4% after Drilling Results
Shares of Nelson Resources Ltd [ASX:NES] are trading higher today after good news from its Yarri project, which is nestled in the eastern goldfields of the East Laverton gold belt.
At time of writing, shares are trading 4.17% higher, at 12 cents per share.
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Nelson’s resources share price up after presence of high-grade gold
NES’s Yarri Prospects saw its recent drilling program yield excellent high-grade gold results from several drill targets. These results are exciting for investors, as it confirms the presence of high-grade quartz-vein structures well beyond drill testing, as reported in their ASX announcement this morning.
While its only initial drill testing spread out over NES’s three gold prospects (Wallaby, Great Banjo and Gibberts), findings have successfully returned high grade gold intercepts.
Neslon Resources’ Managing Director Adam Schofield commented on the results:
‘We are very pleased to start the New Year with these strong results, and in particular the way they confirm and extend the potential for high-grade gold veins well beyond what has previously been exposed by historic workings and drilling at all three aspects.
‘We are very excited to re-start drill testing in the New Year and are confident that we can significantly extend on these high-grade results.’
2019 gold forecasts helping Nelson Resources
Gold prices are reasonably stable and with the last few of months proving highly volatile for the markets, many analysts have been gravitating towards more stable investments, such as gold.
And naturally, we’re going to see this reflected in the way stocks, especially gold stocks, perform on the ASX.
But as always, investors will have to watch Australia’s economic conditions, as well as keep an eye on future gold prices.
For Money Morning
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