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
at 9:40 AM on Thursday, August 1st, 2019
SPONSOR: Great Atlantic Resources Corp (TSX-V: GR) Great Atlantic Resources. A Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold. Click Here for More Info
Central banks’ insatiable appetite for gold dominated the marketplace between April and June, according to the latest data from the World Gold Council
Global gold demand totaled 1,123 tonnes in the second quarter, up 8% from the second quarter of 2018.
For the first half of the year, physical gold demand rose of 2,181.7 tonnes, its highest level in three years.
(Kitco News) –
Central banks’ insatiable appetite for gold dominated the marketplace
between April and June, according to the latest data from the World
Gold Council (WGC).
In its second-quarter Gold Demand Trends report, the council said
that central banks bought a total of 224 tonnes of gold between April
and June. Official gold reserves increased by 374.1 tonnes in the first
half of the year — “the largest net H1 increase in global gold reserves
in our 19-year quarterly data series,†the analysts said in the
report.
“Buying was again spread across a diverse range of – largely emerging market – countries,†the WGC said.
The WGC said that nine central banks bought gold in the first half of the year.
“Central
banks, like other investors, sought safety in gold as they looked to
protect themselves in the face of many looming risks,†the analysts
said.
The report said that global gold demand totaled 1,123 tonnes in the
second quarter, up 8% from the second quarter of 2018. For the first
half of the year, physical gold demand rose of 2,181.7 tonnes, its
highest level in three years.
The report highlighted renewed strength in key sectors of the gold
market. In particular, gold jewelry demand in India increased by 12% to
168.8 tonnes, compared to the second quarter of 2018. This was the best
year-over-year quarterly increase since the second quarter of 2017.
“Indian demand was boosted early in the quarter by the wedding
season and festival buying, before slowing sharply as the gold price
rallied in June,†the report said.
The WGC noted that India’s gold demand faces strong headwinds as purchases have come to a “virtual standstill.â€
“The slowing economic environment and restrictions on the movement
of cash during the elections were a drag on demand in April and May,â€
the report said.
The India gold market was also hit with higher tariffs in early July with import duties rising to 12.5% from 10%.
“Although we do not expect this to have a long-term impact on gold
demand in India, we do see it having a dampening impact on Q3,
particularly as gold prices have remained elevated,†the WGC said.
While India saw strong growth in the second quarter, the world’s
largest gold consuming nation saw its third consecutive quarterly drop.
The WGC said that Chinese jewelry demand dropped by 4% in Q2 to 137.8
tonnes.
“Demand ground to a halt once the June price rally began and
retailer’s promotional efforts could not tempt consumers back.
Reportedly, showrooms were deserted as the quarter came to a close,†the
analysts said.
ETF Investment Demand Remains Robust
The second quarter started on a sour note for gold investors but
ended with a bang, according to the report. Renewed interest in
gold-backed exchange-traded products led the investment surge,
increasing by 67.2 tonnes in the second quarter an increase of 99% from
the second quarter of 2018.
The gains were predominantly seen in June as the month saw inflows
of 126.7 tonnes, reversing April’s outflows of 57.2 tonnes. The WGC
said that total hold holding reached a six-year high of 2,548 tonnes in
the first half of the year.
“Geopolitical uncertainty, dovish monetary policy commentary by
central banks, and a rising gold price were among the key factors that
drove investors to increase their holdings,†the analysts said.
The WGC highlighted the growing trend of European and U.K. investors
leading the way in the gold market. It noted that U.K.-listed funds
accounted for 75% of all global inflows during the second quarter.
“Investors sought the safe haven of gold amid the uncertainty
surrounding Brexit and the leadership battle that followed Theresa
May’s resignation as Prime Minister,†the analysts said. “The sharp drop
in the value of the pound also fueled inflows during the quarter as
the U.K.’s growth prospects were cut following repeated failures in
Brexit negotiations.â€
The WGC added that historic negative bond yields in German bonds also added to gold’s investment appeal.
Lackluster Coin and Bar Demand
Although
investors have been jumping into gold-backed ETFs, interest in
physical gold was fairly muted. The WGC said that gold coin and bar
demand dropped 12% in Q2 to 476.9 tonnes, the lowest level since 2009.
They noted that June’s sharp price rally has weighed on physical demand.
“This market has been struggling for some time, with many
traditional gold investors focused on America’s healthy economic growth,
low unemployment, and continued wage growth,†the WGC said. “The gold
price rally in June triggered selling by some investors, and coin
premiums in the secondary market fell to their lowest level since
before the global financial crisis, spurring gold exports from the US
to Germany.â€
Tech Sector Sees Lower Gold Demand
Although not a significant factor for the physical gold market,
analysts said that the tech sector saw gold demand drop by 3% in the
second quarter to 81.1 tonnes.
“This was the third consecutive quarter of falling demand, due to a
range of challenges in the electronics sector, including the ongoing
trade dispute between China and the US. However, there are signs of
recovery and we expect declines to continue to slow throughout H2
2019,†the WGC said.
Gold Supply Rises Due To Record Production
The council noted that robust gold demand is being met with strong
production; the analysts said that gold supply increased by 6% in the
second quarter to 1,186.7 tonnes. The supply was led by record gold
production between April and June.
The WGC added that gold production increased by 2% to 882.6 tonnes
in the second quarter. “This is a record level of global output for a
second quarter and follows on from a Q1 record of 847.5t.
Global gold production was let by Canada, Russia and the U.S. that
saw their domestic production increase by 9% in the third quarter.
Australia, which has reported record gold production in 2018 saw an
increase of 6% in the second quarter.
The WGC also noted an increase in recycled gold as consumers sold into higher prices late in the quarter.
Posted by AGORACOM
at 11:06 AM on Tuesday, July 23rd, 2019
SPONSOR: Great Atlantic Resources. A Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold. Click Here for More Info
GR: TSX-V
Next level for gold is $1500
Ray Dalio, Billionaire hedge fund manager pro gold
Potential interest rate cuts gold positive
Now that gold has broken through the $1,450 an ounce level, a six-high year high, the next big test is $1,500. And as I’ve said before, it can do this in the blink of an eye under the right conditions.
We may end up seeing those conditions emerge sooner rather than later.
Last Thursday, Federal Reserve Bank of New York President John
Williams seemed to indicate that a rate cut could be expected later this
month, saying that central bankers need to “act quickly†as economic
growth cools. Although he later clarified his comment, claiming he was
simply citing research and not forecasting central bank action, the
price of gold jumped as much as 2 percent on the news before closing
above $1,440 for the first time since May 2013.
Investors took some profits last Friday, knocking the price down
around 1 percent after gold started to look overbought a day earlier.
The metal was up two standard deviations over the past 60 trading days,
its highest level since April 2016. I would consider each pullback such
as this a buying opportunity, though, because I believe the best is yet
to come for the metal.
Gold Price Up Two Standard Deviations
U.S. Global Investors
Ray Dalio seems to agree. In a lengthy post on LinkedIn—Dalio’s
favorite platform for getting the word out—the billionaire hedge fund
manager writes that he thinks we’re on the verge of a new economic
paradigm shift and that central banks’ accommodative policies, from low
rates to quantitative easing (QE), are unsustainable. To hedge against
this, Dalio says, “I believe that it would be both risk-reducing and
return-enhancing to consider adding gold to one’s portfolio.†Most
investors are underweighted in gold, “meaning that if they just wanted
to have a better balanced portfolio to reduce risk, they would have more
of this sort of asset,†he writes.
A Monster Rally for Juniors
Select junior and micro-cap gold and precious metal miners also
posted very strong growth over the past week, mostly on positive
drilling results. In a press release dated July 15, Brixton Metals
announced encouraging results at its wholly owned Thorn
Gold-Copper-Silver Project in British Columbia. Gary Thompson, chairman
and CEO of the Vancouver-based explorer and developer, said that Brixton
“continues to unlock a mountain of value†at the property, which
exhibits even greater mineralization than was previously thought.
Junior Miners Had a Strong Week
U.S. Global Investors
As for silver, I’m pleased to see that it’s finally playing “catch
up†to gold, its price having hit a 52-week high after an incredible six
straight days of gains.
Silver Is Trying to Narrow Its Gap With Gold
U.S. Global Investors
The Bullish Calls on Gold Continue
With gold having already broken out of its five-year trading range, is the best still yet to come?
I believe it is. And I’m not alone. Read what some analysts and strategists have to say:
Alpine Macro
“The Fed is getting ready to cut interest rates, which should set in
motion a multi-year bear market in the dollar,†write analysts at Alpine
Macro in a research note dated June 28. A weaker U.S. dollar is one of
three “key ingredients†for a bull market, according to Alpine Macro,
the other two being a more accommodative Fed and rising geopolitical
risks.
“The technical break above $1,400 an ounce is a positive sign,†the
firm adds. “New all-time highs for gold should be seen in the coming
years.â€
World Gold Council (WGC)
“The prospect of lower interest rates should support gold investment
demand,†the World Gold Council (WGC) says in its mid-year outlook. “Our
research indicates that the gold price was higher in the 12 months
following the end of a tightening cycle. Moreover, historical gold
returns are more than twice their long-term average during periods of
negative real rates—like the one we are likely to see later this year.â€
Canadian Imperial Bank of Commerce (CIBC)
“We continue to see no signs of rate hikes on the horizon over the
next several years, and historically have seen gold continue on an
upward trajectory beyond the last rate cut,†writes CIBC in a note dated
July 14.
The bank points out that in two previous gold bull market cycles—in
the 1970s and 2000s—negative real rates were the main contributing
factor.
“During the last two major periods when real rates stayed below the 2
percent level and actually ticked into negative territory, the gold
price moved over 320 percent in the 1970s… and approximately 400 percent
from 2004 to peak in 2011.â€
For full disclosures pertaining to this post click here.
Posted by AGORACOM
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
at 9:21 AM on Wednesday, July 17th, 2019
SPONSOR: Great Atlantic Resources. A Canadian exploration company focused on the discovery and development of mineral assets in the resource-rich and sovereign risk-free realm of Atlantic Canada, one of the number one mining regions of the world. Great Atlantic is currently surging forward building the company utilizing a Project Generation model, with a special focus on the most critical elements on the planet that are prominent in Atlantic Canada, Antimony, Tungsten and Gold. Click Here for More Info
GR: TSX-V
A bigger price move is right on the horizon, probably this week
Odds favor that bigger price move being to the upside.
Gold prices are modestly down in early U.S. trading Tuesday. The daily chart for gold shows a “collapse in volatility,†whereby the past three sessions have seen significantly quieter price action. This suggests that a bigger price move is right on the horizon, probably yet this week. Given that the daily gold chart remains bullish, odds favor that bigger price move being to the upside. August gold futures were last down $2.90 an ounce at 1,410.20. September Comex silver prices were last up $0.045 at $15.41 an ounce.
The just-released U.S. retail sales report for June showed a stronger-than-expected rise of 0.4%, which pushed the U.S. dollar index to solid gains on the day and in turn put some downside pressure on the gold market. Asian and European stocks were mixed overnight. U.S. stock indexes are pointed toward narrowly mixed openings when the New York day session beings, and are at or near their record and contract highs. So far this week there have been no major news developments in the world to significantly move markets. Thus, typical lackluster mid-summertime trading has set in. However, a very busy day of U.S. economic data may shake loose the present summertime doldrums.
In overnight news, there was a downbeat economic report coming out
of Germany, as the ZEW economic expectations index and current
conditions index worsened in July. Germany is the economic workhorse
for the European Union.
The other key “outside market†today sees Nymex crude oil prices firmer and trading just below $60.00 a barrel.
U.S. economic data due for release Tuesday includes the weekly Johnson Redbook and Goldman Sachs retail sales reports, retail sales, import and export prices, industrial production and capacity utilization, the NAHB housing market index, manufacturing and trade inventories, and Treasury international capital data. Several Federal Reserve officials are also slated for speeches today.
Posted by AGORACOM
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.
Posted by AGORACOM
at 7:35 AM on Thursday, July 4th, 2019
Drilling a high priority geophysical target at its Gold Drop property in the Greenwood Mining Camp.
Stargate II (SG II) Drill Target Modeling System incorporates Acoustic EM analysis, technology that was developed by Earth Science Services Corporation
SG II employs an enhanced, deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical survey.
VANCOUVER, BC / ACCESSWIRE / July 4, 2019 / GGX Gold
Corp. (TSX-v: GGX), (OTCQB: GGXXF), (FRA: 3SR2) (the “Company” or
“GGX”) announces that it is planning to drill a high priority
geophysical target at its Gold Drop property in the Greenwood Mining
Camp.
The proprietary Stargate II (SG II) Drill Target Modeling System incorporates Acoustic EM
analysis, technology that was developed by Earth Science Services
Corporation of Oshawa, Ontario (ESSCO). SG II employs an enhanced,
deep-penetrating ultra-sonic AMT (Audio-Magnetotellurics) geophysical
survey.
The system is in developmental / pre-commercial stage and as such the effectiveness of this technique is not fully known to GGX.
Stargate
II surveys were performed by ESSCO over the Republic Graben trend in
Washington and B.C. in 2014/2015 at 1 km and 500 metre line spacings. A
resultant geophysical anomaly on the Gold Drop property in the Greenwood
Mining Camp was supplied by Glenn Galata of ESSCO. The anomaly measures
1834 by 1377 metres, is centered at the intersection of three
interpreted major fault conduit structural traces and is located along
strike and to the north of the C.O.D. vein trend. Testing the target
will require drilling to a depth of at least 400 and up to 764 metres –
the deepest ever to be drilled on the Gold Drop property.
Stargate II Anomaly Map:
The
anomaly is located at the intersection of corridors identified as
“conduit-fault-structural traces”. Two of these are coincident with the
trend of the C.O.D. vein system and a probable NW-trending cross-fault.
The correlation of anomaly corridors with known geological features
provides some confidence in the result.
GGX is excited to have
the opportunity to engage this new technology with a drill test planned
in the coming weeks. If successful, the test at the Gold Drop property
could result in the discovery of a new gold deposit or even a new gold
deposit type. It could also lead to further investigations utilizing the
new geophysical technique in other areas of the Greenwood Mining Camp.
View the Video at GGXGOLD
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.
Mr. Glenn Galata, of Earth Science Services
Corporation of Oshawa Ontario, reviewed the information in this release
pertaining to the Stargate II geophysical system and ESSCO.
Posted by AGORACOM
at 1:37 PM on Friday, June 21st, 2019
US $ Gold price touched a 5-year peak at $1400 as the US Fed signalled a rate cut, pressuring U.S. Treasury yields and the dollar.
This is the highest gold has been since March 17, 2014 at $1,386.38
Continued Central Bank accumulation of physical gold represents fundamental floor for market as a weakening US dollar accelerates Central Bank demand. Purchases rose 130% in the 4th quarter, and 2018 purchases came in at 650 tons
Trade wars ( China ) and Geopolitical conflicts ( Iran )
Dearth of exploration discovery leads to future supply deficits
Technical factors support higher long term gold prices and renewal of bull market
Higher prices make marginal projects economic
Exploration becomes a renewed focus to supply future demand
Joint Venture with Tudor Gold and
a 20% FULLY CARRIED INTEREST until a production notice is given. The last hole
drilled intersected 563.8m of 0.98 g/t gold and remains open. The 2019 program
is designed to drill well over one billion tonnes of rock and produce a
multi-million-oz gold deposit incorporating an open pit design and with higher
gold grades and remarkably better logistics than Seabridge’s adjoining KSM. Click
here for the Treaty Creek JV Highlights
Advance Gold is focused on its
100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. Drilling in
the first 3 phases identified a cluster of 30 mineralized epithermal veins over
an area from east to west of approximately 300 metres, and north to south 400
metres, and 300 metres of depth. Advance plans to focus deeper to find the
boiling zone of the system and potentially economic mineralization. AAX
recently created a 3D model of the vein Tabasquena system.
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
focussed 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).
Lead by Shawn Ryan and Roger Moss, LAB has 2
district scale Greenfield Gold projects in Labrador that have never seen any
modern exploration techniques. Ashuanipi and Hopedale are being systematically
explored for gold potential following 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 are the focus of 2019 exploration.
