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Gold Prices Surge to Record Highs Amidst Weaker U.S. Economic Report

Posted by AGORACOM-JC at 11:32 AM on Friday, March 8th, 2024

In a remarkable turn of events, gold prices have soared to new record highs, reflecting the impact of a surprising weakness in a key U.S. economic report. On Friday, April gold reached an unprecedented $2,187.50, marking a robust increase of $21.30. This surge was triggered by the February employment situation report from the Labor Department, which revealed unexpected frailty in the U.S. job market.

Despite the non-farm jobs number exceeding expectations at 275,000, the report highlighted concerning aspects, including a downward revision of January’s figures and an uptick in the unemployment rate to 3.9%. These revelations have aligned with the sentiments of U.S. monetary policy doves, who advocate for prompt interest rate cuts to address economic challenges.

This bullish trend in gold prices has captured the attention of investors and analysts, emphasizing the metal’s role as a safe-haven asset during uncertain economic times. As the market reacts to these developments, several gold exploration companies are poised to benefit from the ongoing gold boom. Let’s delve into some of these small cap gold companies that stand to benefit.

Stelmine Canada (STH: TSXV)

Stelmine is developing a new gold district (in northeastern Quebec); an under-explored part of the otherwise prolific James Bay region of Quebec, Canada. This region of the planet is expected to substantially increase its production of gold mineral resources. Led by Isabelle Proulx (CEO), Stelmine’s management team has a proven track record in the Quebec resources sector and has created an attractive gold exploration target through a high profile geological team including Dr. Normand Goulet, considered one of Canada’s greatest structural geologists.

The Mercator gold-bearing corridor became the canvas for Stelmine’s geological artistry, where the company not only uncovered gold deposits but also expanded the corridor’s length substantially through meticulous exploration and leveraging historical data. Their Flagship Courcy property hosts Geological similarities to Newmont’s Eleonore mine (Gold production since 2015) 215k OZs of annual production (2022). Courcy isn’t confined to gold; it’s a treasure trove of critical minerals.

Green River Gold Corp. (CCR: CSE) (CCRRF: OTC)

Green River stands out with its strategic acquisition of the core part of the Fontaine Project and a package of placer claims, resulting in a substantial land package of 200 square kilometers. The company gained additional attention when Osisko Gold Royalties Ltd. purchased Barkerville Gold Mines Ltd. for $338 million Canadian, bringing a well-established player into the Cariboo District. A B.C. environmental assessment certificate has been issued to Osisko Development Corp. for the Cariboo Gold project in Wells, east of Quesnel. When completed, the mine is expected to produce about 25 million tonnes of ore over 16 years and employ 500 workers during its operation and up to 300 during construction. Construction costs alone are expected to contribute an estimated $588 million to the economy over four years, and operations about $466 million. Green River is well-positioned to capitalize on the renewed interest in this district.

Cross River Ventures (CRVC: CSE)

Cross River Ventures is actively developing a portfolio of projects in some of the most prolific mining districts globally. With a focus on exploration, the company is poised to leverage its presence in strategic locations, contributing to the overall growth and diversification of its assets. The company is located in some of the most prolific greenstone belts in Canada. The company’s senior management team and board boast decades of experience.

Xali Gold (XGC: TSXV) (CDGXF: OTC)

Xali Gold has initiated a comprehensive growth strategy, targeting gold and silver projects with exploration and near-term production potential. The acquisition of the SDA Plant, suitable for treating high-grade gold and silver mineralization, represents a significant step in this strategy. The flagship asset, El Oro, a district-scale gold project in Mexico, adds a compelling dimension to Xali Gold’s portfolio, further solidifying its position in the evolving gold market.

As the gold market continues to capture headlines and investor interest, these companies are well-poised to navigate and thrive in the dynamic landscape, providing promising opportunities for those seeking to capitalize on the current bullish trend in precious metals.

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Cross River Ventures $CRVC $CSRVF District Scale Gold Discovery Potential in Red Lake, Ontario

Posted by AGORACOM at 4:43 PM on Thursday, December 16th, 2021

Cross River Ventures is focused on the development of top tier exploration properties in the premier mining district of Red Lake Ontario exploring for gold, and for several good reasons.

The Red Lake Mining jurisdiction hosts one of the largest mineral rich greenstone belt on the planet that has produced 200 million ounces of gold in over 100 years of mining. This includes a total gold endowment exceeding 300million ounces with over 124 mines and 21 plus deposits with more than 3 million ounces each.

Cross River hosts 7 Projects (over 28,000-hectares) within the prolific greenstone belts of NW Ontario, Canada which host the most productive gold deposits in the world.

This is where Cross River is targeting gold for discovery potential.

Armed with a world class technical team led by Dr. Rob Carpenter, who was the CEO of Kaminak,     ( acquired by Goldcorp for CDN $520 million), know how to plan and execute a exploration program designed specifically to make a discovery.

Cross Rivers Flagship McVicar Property is just one of the properties they are targeting for discovery. Situated close to the 3.8m Oz Springpole deposit controlled by First Mining Gold Corp. ( FF.TO ) it hosts 2 mineralized trends that are parallel to one another and include new surface discoveries of gold, as well as previous sampling of high grade with numerous results greater than 500g/t gold.

McVicar is ready to be fully explored and drill permits for the property have been issued for multiple target areas delineated via modern geophysics.

The recent driver of attention to the Red Lake area is the takeover of Great Bear Resources by Kinross Gold Corp. under which Kinross has agreed to acquire all of the outstanding common shares of the Red Lake explorer for C$29.00 per share, approximately $1.8-billion and being done without a resource calculation. This is primarily due to the excellent nature of their drill results.

The peer takeover speaks to the attractiveness of discovery potential and quality of the mining jurisdiction. Cross River is in the right neighborhood to make a discovery, at the right time in the market, and when attention in the area has never been greater.

Sit back and enjoy this great interview with Cross River Venture CEO Alex Klenman as he walks us through their objective to make a discovery equal to their peers in the Red Lake Mining District.