7cpv_chart.pngCopper Creek Gold Corp. (CVE:CPV) (PINK:CKVLF) had a high volume trading session on Friday as their price went up more than 9%.

During the day the trading volume hit 4.7 million, which was 17 times the average of 271 thousand. The humongous trading activity put it among the most actively traded stocks on its exchange although the exact reasons for such a price rush remain unknown.

The short-lived rally stopped when the resistance at 6 cents per share stood sturdy. The stock remained inside its pre-established trading channel. There was no news and the way the stock price acted showed it was only a few transactions that created this surge. The intraday price action was choppy, oriented towards the end of the session, which suggest possibility of institutional investor involvement.

Because the resistance remained solid, there is very little possibility that the move could evolve into something more even with the eye catching changes in the trading activity. There is nothing extraordinary to attract the attention of the masses, thus there is no way to create solid foundation for a further price rally.

copper_creek_logo.jpgA large scale single source investment at this time would not be surprising, though. Copper Creek announced on January 19 that they will commence drilling operation on Santa Lucia gold-silver project, starting the second week of February 2012. A total of 2,000 to 2,500 meters should be drilled under the program with six holes drilled in three most prospective areas.