Posted by AGORACOM-Eric
at 2:52 PM on Thursday, August 22nd, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Worldwide holdings have rebounded since 2016 on rising demand
Goldman Sachs has forecast further gains in bullion to $1,600
Gold’s faring extremely well as a haven asset, with inflows into
exchange-traded funds hitting 1,000 tons since holdings bottomed in
early 2016 after a prolonged unwind in the wake of the global financial
crisis.
Total known ETF holdings expanded to 2,424.9 tons on Wednesday, the
highest since 2013, following inflows over the past three years and a
continued build-up in 2019, according to data compiled by Bloomberg.
Current assets are about 1,000 tons higher than the post financial
crisis nadir of 1,425.1 tons.
Gold has surged this year as investors seek protection from slowing
global growth, the incessant trade war, and turmoil in the bond market
that suggests the U.S. may be headed for another recession. The rise has
been aided by a rate cut from the Federal Reserve and expectations more
will soon follow. This week, veteran investor Mark Mobius gave a
blanket endorsement to buying bullion, saying accumulating the precious
metal will reap long-term rewards.
Others are also bullish. Goldman Sachs Group Inc. has said prices will climb
to $1,600 an ounce over the next six months. The bank’s global head of
commodities research, Jeffrey Currie, said that gains are likely be
fueled by demand for ETFs as well as increased central-bank purchases.
Spot gold traded at about $1,500 on Thursday, up 17% this year.
Posted by AGORACOM-Eric
at 10:48 AM on Thursday, August 8th, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Beijing wants more gold in its reserves.
China’s central bank expanded gold reserves again in July, pressing on with a run that stretches back to December.
The People’s Bank of China raised holdings to 62.26 million ounces from 61.94 million a month earlier, according to data on its website.
In tonnage terms, the inflow was close to 10 tons, following the addition of about 84 tons in the seven months to June.
There’s a powerful constant amid the to-and-fro of the U.S.-China
trade war as currency policy gets dragged into the standoff between the
world’s two top economies: Beijing wants more gold in its reserves.
China’s central bank expanded gold reserves again in July, pressing
on with a run that stretches back to December. The People’s Bank of
China raised holdings to 62.26 million ounces from 61.94 million a month
earlier, according to data on its website. In tonnage terms, the inflow
was close to 10 tons, following the addition of about 84 tons in the
seven months to June.
Gold has rallied in 2019 to a hit a six-year high as global growth
stutters, central banks including the Federal Reserve eased policy, and
the festering trade war all combined to bolster demand. Increased
central-bank buying from China to Russia and Poland has helped to
buttress consumption at a time of rising prices. This week, the conflict
between Washington and Beijing worsened as the yuan was allowed to
breach a key level, reinforcing the case for havens.
“It is important for the country to diversify away from the U.S.
dollar,†Philip Klapwijk, managing director at consultant Precious
Metals Insights Ltd., said before the PBOC’s latest figure was released.
“Over the long run, even relatively small-scale gold purchases add up
and help to meet this objective.â€
Gold futures rose as much as 1.3% to $1,503.30 an ounce on Wednesday,
the highest since 2013, before trading at $1,500.70 at 11:26 a.m. in
London.
“This fits with China’s well established pattern of increasing gold
reserves month after month but not in a large enough volume to disrupt
the gold market,†said Ross Strachan, a senior commodities economist at
Capital Economics Ltd. “We expect them to continue this trend as part of
their long-term strategy to diversify their foreign exchange reserves.â€
Central banks continued to load up on gold this year,
helping push total bullion demand to a three-year high in the first
half, according to the World Gold Council. That trend is expected to
continue, with a survey of central banks showing 54% of respondents
expect holdings to climb in the next 12 months.
“Bear in mind that China is the largest mine producer of gold in the world,†Klapwijk added. “The state can always buy local mine production using†local currency, he said.
American Creek owns a 20% Carried Interest to
Production at the Treaty Creek Project in the Golden Triangle. 2019’s
first hole averaged 0.683 g/t Au over 780m
in a vertical intercept. The Treaty Creek property is located in the
same hydrothermal system as Pretivm and Seabridge’s KSM deposits.
Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold
projects in Labrador that have never seen any modern exploration
techniques. Ashuanipi and Hopedale are being systematically explored for
gold potential utilizing the same techniques that created the White
Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide
north-south trend exists and a second 14 km long by 2 to 4 km wide
east-west trend exists. At Hopedale, 2019 exploration has discovered
two new mineralized showings.First showing extends potential strike
length by approximately 500 metres along strike of the Thurber Dog gold
occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the
Greenwood-Republic mining camp, British Columbia. The current 2019 drill
program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in
Canada’s newest emerging gold district. The Company reported a NI
43-101mineral resource estimate for the JMZ in late 2018 on Golden
Promise and 2019 is focused on prospecting and geochemical sampling at
high priority targets within the property. Planned 24 hole program in
the northern half of the property at the gold-bearing Jaclyn Zone,
specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
American Creek owns a 20% Carried Interest to
Production at the Treaty Creek Project in the Golden Triangle. 2019’s
first hole averaged 0.683 g/t Au over 780m
in a vertical intercept. The Treaty Creek property is located in the
same hydrothermal system as Pretivm and Seabridge’s KSM deposits.
Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold projects in Labrador that have never seen any modern exploration techniques. Ashuanipi and Hopedale are being systematically explored for gold potential utilizing the same techniques that created the White Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide north-south trend exists and a second 14 km long by 2 to 4 km wide east-west trend exists. At Hopedale, 2019 exploration has discovered two new mineralized showings.First showing extends potential strike length by approximately 500 metres along strike of the Thurber Dog gold occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the
Greenwood-Republic mining camp, British Columbia. The current 2019 drill
program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in
Canada’s newest emerging gold district. The Company reported a NI
43-101mineral resource estimate for the JMZ in late 2018 on Golden
Promise and 2019 is focused on prospecting and geochemical sampling at
high priority targets within the property. Planned 24 hole program in
the northern half of the property at the gold-bearing Jaclyn Zone,
specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
American Creek owns a 20% Carried Interest to Production at the Treaty Creek Project in the Golden Triangle. 2019’s first hole averaged 0.683 g/t Au over 780m in a vertical intercept. The Treaty Creek property is located in the same hydrothermal system as Pretivm and Seabridge’s KSM deposits. Eric Sprott recently made a strategic 1$M investment in AMK
Lead by Shawn Ryan and Roger Moss, LAB has 2 district scale Gold projects in Labrador that have never seen any modern exploration techniques. Ashuanipi and Hopedale are being systematically explored for gold potential utilizing the same techniques that created the White Gold discoveries. At Ashuanipi , a 15km long by 2 to 6 km wide north-south trend exists and a second 14 km long by 2 to 4 km wide east-west trend exists. At Hopedale, 2019 exploration has discovered two new mineralized showings.First showing extends potential strike length by approximately 500 metres along strike of the Thurber Dog gold occurrence; Second showing was discovered in the Misery North area
GGX gold has discovered high grade gold silver and tellurium in the Greenwood-Republic mining camp, British Columbia. The current 2019 drill program follows up on 2018 intercept of high grade gold-silver (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. In addition tellurium grades were announced with “up to 3,860 g/t telluriumâ€, including “823 g/t tellurium over 7.28-meter core length†and “640 g/t tellurium over 6.90-meter core length. 2019 drilling on COD North is currently underway.
Great Atlantic is situated between Marathon Gold and Sokoman in Canada’s newest emerging gold district. The Company reported a NI 43-101mineral resource estimate for the JMZ in late 2018 on Golden Promise and 2019 is focused on prospecting and geochemical sampling at high priority targets within the property. Planned 24 hole program in the northern half of the property at the gold-bearing Jaclyn Zone, specifically at the Jaclyn Main Zone (JMZ) and Jaclyn North Zone (JNZ).
Posted by AGORACOM-Eric
at 11:48 AM on Wednesday, July 31st, 2019
SPONSOR: GGX Gold Corp (TSX-V: GGX) GGX’s Gold Drop Property resides within a multi-million ounce gold producing region in British Columbia. The property holds the C.O.D. Vein and recently discovered Everest Vein. GGX has initiated 2019 drilling at Gold Drop. Click Here for More Info
Expectations are the Fed will cut rates by 25 basis points
Falling interest rates make metals more attractive
Tie in bullish technicals with a clueless Fed and we should see higher gold and silver prices.
Yesterday we wrote that gold and silver would probably be quiet and
flat until after the Fed reported on Wednesday. It now looks like the
metals are trying to get a jump on the Fed and have started to rally
early.
Friday saw gold
trade as low as $1,412 and suddenly the metal is back over $1,440.
There was a late-day rally Monday with some early morning follow-through
today. The key to watch in gold is the $1,450 level, since a close
above would signal $1,500 is not far behind. Silver looks like it wants to join the rally and push through $17.
Expectations are the Fed will cut rates by 25 basis points; that
would be bullish for the metals. Falling interest rates make metals more
attractive. Tie in bullish technicals with a clueless Fed and we should
see higher gold and silver prices.
Posted by AGORACOM-Eric
at 9:33 AM on Wednesday, July 24th, 2019
Drilling at the C.O.D. North vein – 421m has been drilled in 7 holes
1,965m drilled in 32 holes on the main COD vein – Assays Due
Drill testing “Anomaly” at depths between 500 and 800 metres
The anomaly is interpreted as a pipe-like structure measuring 1834 by 1377m
VANCOUVER, BC / ACCESSWIRE / July 24, 2019 / GGX
Gold Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company†or
“GGXâ€) provides the following update on its exploration activities at
its Gold Drop property in the Greenwood Mining Camp.
Drilling resumed as of July 16 at the C.O.D. North vein. As of July
22, a total of 421 metres has been drilled in 7 holes on the COD North,
in addition to the total of 1,965 metres drilled in 32 holes on the main
COD vein. An initial batch of samples was submitted for analyses in
late June, but assays have not yet been received.
Preparations are also underway to drill a relatively deep hole on a
geophysical anomaly (refer to news release dated July 4). Drill rods and
bits have been purchased and a night shift drill crew has been
arranged. The drill site has been selected and verified by a
representative for Earth Science Services Corporation of Oshawa, Ontario
(ESSCO). The initial hole is planned to be drilled to test the target
zone at depths between 500 and 800 metres. The anomaly is interpreted as
a pipe-like structure that measures 1834 by 1377 metres.
The Company also announces that it has repriced the flow through
portion of its private placement originally announced on June 18, 2019.
The non brokered private placement will now be an offering of up to
4,000,000 flow through units at a price of Cdn$0.25 per unit for gross
proceeds of $1,000,000. Each flow-through unit will comprise one common
share (which is a flow-through share for Canadian income tax purposes)
and one-half share purchase warrant. Each whole flow-through warrant
will entitle the holder to purchase one additional common share which is
not a flow-through share at the price of $0.35 for 18 months after
closing. The term of the warrants may be accelerated in the event that
the issuer’s shares trade at or above a price of $0.40 cents per share
for a period of 10 consecutive days. In such case of accelerated
warrants, the issuer may give notice, in writing or by way of news
release, to the subscribers that the warrants will expire 20 days from
the date of providing such notice. The proceeds of the private placement
will be used for continued exploration work including diamond drilling
and trenching at the Company’s Gold Drop property near Greenwood in
Southern British Columbia.
The terms of the non-flow through placement remain as announced on June 18, 2019.
A finder’s fee may be paid to eligible finders in accordance to the
TSX-V policies. All securities issued pursuant to the offering will be
subject to a hold period of four months and one day from the date of
closing. The offerings and payment of finders’ fees are both subject to
approval by the TSX-V.
David Martin, P.Geo., a Qualified Person as defined by National
Instrument 43-101 and consultant to the Company, approved the technical
information in this release.
On Behalf of the Board of Directors George Sookochoff, President, 604-488-3900 [email protected]
Posted by AGORACOM-Eric
at 1:40 PM on Monday, July 22nd, 2019
SPONSOR: GGX’s Gold Drop property, situated in one of the most prolific gold-copper mining camps of North America, the Greenwood-Republic mining camp. The current 2019 drill program is following up on the 2018 drilling which intercepted high grade gold-silver results (129 g/t gold and 1,154 g/t silver over 7.28 meter) from the near surface COD vein which is projected to be 1.5 kms in length. Click here for more information
Central Banks Return to Gold
Central banks bought more gold in 2018 than at any time since the early 1970s
Bullion holdings rose by 651.5 tons last year, the most since 1971
In the 1990s, gold was an unloved asset among central banks. Reserve managers lent or sold their gold, particularly in Europe, and the gold price fell to a low of US$250/oz. Years of persistent selling triggered the Central Bank Gold Agreement of 1999, under which signatories agreed to limit collective sales to 400 tonnes per annum, put a cap on gold leasing and take a disciplined approach to gold futures and options.
The Agreement delivered two clear benefits: it helped to stabilise
the gold price and increased transparency around central bank gold
sales. Today, however, sentiment towards gold has been transformed and
gold has regained its status as a valuable and highly regarded reserve
asset.
In 2018 alone, central banks bought 651 tonnes of gold, up 74% compared to 2017 and the highest level since 1971.
Key Changes
A glance back over the past 20 years highlights some of the key changes in central bank behaviour.
First, central banks have rapidly and consistently added to their
foreign exchange reserves since the Asian crisis of 1998. Reserves are a
crucial element in a country’s armoury, providing protection against
both domestic and external shocks and acting as a show of confidence to
the outside world. Emerging market economies led the charge in this
respect, sending worldwide foreign exchange reserves from around US$3
trillion (tn) in 2000 to approximately US$13tn in 2014. Purchases have
plateaued over the past five years but still stand at some US$13tn
today.
The dollar is the most widely held reserve asset but, according to
International Monetary Fund statistics, gold comes third, accounting for
11% of global reserves. Having been net sellers until 2000, central
banks have been net buyers ever since. In 2018 alone, central banks
bought 651 tonnes of gold, up 74% compared to 2017 and the highest level
since 1971. Over the past decade, central banks have purchased more
than 4,300 tonnes of gold, taking their total holdings to around 34,000
tonnes today. The trend has continued in 2019, with net purchases
reaching 90 tonnes before the end of the first quarter.
Notably too, central bank buying has been geographically diverse. Russia
has been the most committed purchaser of gold – acquiring almost 275
tonnes in 2018, the largest amount ever purchased in a single year.
China has been consistently adding to its reserves as well, but many
other emerging market countries have been accumulating gold over the
past year and more, including Hungary, Poland, Egypt, Kazakhstan and
India.
The Drivers
What is the rationale behind this renewed interest in gold? First,
heightened uncertainty about the global economic and geo-political
outlook and second, gold’s intrinsic value as a reserve asset.
Ten years after the Global Financial Crisis, the macro-economic
outlook remains fragile and hard to read. In April, the IMF outlook
highlighted weakening GDP growth, with risks skewed to the downside. As
IMF Chief Economist Gita Gopinath explained, the global economy is at “a
delicate momentâ€. Advanced economies are predicted to grow by just 1.8%
in 2019 and 1.7% in 2020, while growth in the Euro area is expected to
be even lower, at 1.6% and 1.5% respectively. The emerging market growth
trajectory is more solid (4.4% in 2019 and 4.8% in 2020) but risks
remain tilted downwards.
Trade tensions are a major unknown. They have already had a negative
impact on growth and if the US and China do not reach a genuine truce,
the global outlook may worsen further. Fears of retaliation and
escalation may hit business investment, supply chains may be disrupted,
and productivity may slow across the world stage. The Euro area faces
specific challenges too. Business confidence is low, especially in
Germany due to the introduction of new fuel emission standards in the
auto industry. Fiscal policy is affecting Italian sovereign and
commercial bank spreads. And, of course, uncertainty about Brexit
persists, particularly as the exit date has now been postponed to
October 2019.
Furthermore, global geo-political risks have not abated and may have a
negative impact on economic activity. Idiosyncratic risks are
increasing too, such as the rise of populist governments in Latin
America and across Europe.
What is the rationale behind this renewed
interest in gold? First, heightened uncertainty about the global
economic and geo-political outlook and second, gold’s intrinsic value as
a reserve asset.
Gold Advantages
All these uncertainties accentuate negative market sentiment and
drive central bank investors to reallocate their portfolios away from
risky assets to safe haven assets.
This is where gold comes into its own, as it fulfils central banks’ three core objectives: safety, liquidity and return.
Gold is well known as a safe haven asset. It carries no credit risk,
has little or no correlation with other assets and the price generally
increases in times of stress. As such, it offers valuable protection in
times of crisis.
Gold is highly liquid too. It can easily be traded in global market
centres, such as London and New York. It can be used in swap
transactions to raise liquidity when needed and it can be actively
managed by reserve managers.
Gold can also enhance the risk/return profile of a central bank portfolio. Its lack of correlation to other major reserve assets makes it an effective portfolio diversifier and, over the long term, it delivers higher returns than many other assets.Â
Posted by AGORACOM-Eric
at 8:23 AM on Wednesday, July 17th, 2019
Drilling has resumed at the C.O.D. North vein, where sample results last year ranged up to 21.7 grams per tonne gold over 0.4m
The new geophysical anomaly on the Gold Drop property is centered at the intersection of three interpreted major fault-conduit structural lineaments two of which are coincident with known structures: C.O.D. vein system and a cross-fault.
The anomaly measures 1834 by 1377m and is interpreted as a pipe-like structure requiring drilling to a depth of at least 400 and up to 764 metres.
The most significant gold drill intersections (core length) from the phase 3 diamond drilling on the COD vein are as follows:
COD18-3: 14.62 g/t Au over 2.1 metres;
COD18-26: 10.30 g/t Au over 1.4 metres recovered core (within 2.35-metre interval);
Posted by AGORACOM-Eric
at 9:12 AM on Thursday, July 11th, 2019
Drilling at the C.O.D. North vein, where sample results obtained late last year ranged up to 21.7 grams per tonne gold over 0.4m
Drilling will then be directed to the area of a new-technology geophysical target identified by Stargate II
Anomaly measures 1834 by 1377 metres and is interpreted as a pipe-like structure that tops out at about 360 metres
Drilling to a depth of at least 400 and up to 764 metres
VANCOUVER, BC / ACCESSWIRE / July 11, 2019 /
GGX Gold Corp. (TSX-V: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Companyâ€
or “GGXâ€) announces that it will resume drilling next week at its Gold
Drop property in the Greenwood Mining Camp.
After
taking a much-deserved field break, the drill and geological crews are
returning to the Company’s operations base in Greenwood, B.C. to resume
drilling activity on the Gold Drop property. Drilling will resume next
week initially at the C.O.D. North vein, where sample results obtained
late last year ranged up to 21.7 grams per tonne gold over 0.4 metres
(see news release dated Nov 20, 2018).
Drilling
will then be directed to the area of a new-technology geophysical
target identified by Stargate II, an enhanced, deep-penetrating
ultra-sonic AMT (Audio-Magnetotellurics) geophysical survey conducted
by Earth Science Services Corporation of Oshawa, Ontario (see news
release dated July 3, 2019). The new geophysical anomaly on the Gold Drop property is centered at the intersection of three interpreted major fault-conduit structural lineaments, two of which are coincident with known structures: C.O.D. vein system and a cross-fault. Geometrically, the
anomaly measures 1834 by 1377 metres (see figure below) and is
interpreted as a pipe-like structure that tops out at about 360 metres,
requiring drilling to a depth of at least 400 and up to 764 metres. This
will be the deepest ever to be drilled on the Gold Drop property.
Stargate II Anomaly Map:
Drilling
is expected to continue through this month on these and other targets.
Assay results from the first round of this season’s drilling on the
C.O.D. vein are also expected to be received this month.
David
Martin, P.Geo., a Qualified Person as defined by National Instrument
43-101 and consultant to the Company, approved the technical information
in this release.
