During morning trade the Equus Mining Ltd (ASX: EQE) share price has once again been one of the best performers on the local share market.
At the time of writing, the natural resources developer's shares are up 32% to a 52-week high of 5.3 cents.
Incredibly, this means that its shares have now gained over 82% this week and 194% since the start of June.
Why have its shares jumped?
This gain appears to stem from an update released in June in regards to drilling at its Los Domos Gold-Silver Project in Chile.
According to that update, the first drill hole intersected a cumulative 12.9 metre downhole interval hosting visual indications of precious and base metal mineralisation.
Whilst it is still early days, these results do hint that there could be a significant resource underground.
Should you invest?
As promising as this drilling result is, I still feel it is a little too soon to start investing in the company.
Especially with its cash balance arguably providing it with three more quarters of activities before it needs to tap the market for funds again.
I'll certainly be keeping a close eye on the company, but for now I would suggest investors wishing to gain exposure to precious metals do it through investments in either Newcrest Mining Limited (ASX: NCM) or Northern Star Resources Ltd (ASX: NST).