Posted by AGORACOM
at 4:16 PM on Thursday, August 22nd, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining. 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-JC
at 9:11 PM on Sunday, August 18th, 2019
30 days ago, American Creek Resources (AMK:TSXV) was well known only amongst investors that believe in the Golden Triangle of Northern B.C. Then, it all changed overnight when Eric Sprott stated the following on July 19, 2019 about the Company’s Treaty Creek project:
“It’s drilling a monster play just like the GT Gold play … It’s in the perfect logistical place to develop it …. what we’re shooting for is to define a 10 or 20-million-ounce discovery, so you’re paying nothing for this discovery.â€
To add further fuel to the fire, the Company’s JV partner is Tudor Gold, whose CEO (Walter Storm) startup funded Osisko to a $4.5 BILLION market cap. Drill results were so good at the end of July that Tudor Gold brought in a second drill, while Eric Sprott personally invested $1,000,000 into AMK 8 days later. If 3rd party validation is important to you in the world of gold exploration, it doesn’t get better than having Eric Sprott and Walter Storm in your corner.
Grab your favourite cold beverage and watch this interview with CEO Darren Blaney and Investor Relations officer Kelvin Burton …. the laughter and smiles on their faces are priceless.
Posted by AGORACOM
at 1:19 PM on Monday, August 12th, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining
In Canada, Gold is $100 higher than its (previous) all-time highs.
Gold and Silver Ratio also close to previous highs
Posted by AGORACOM
at 10:40 AM on Friday, August 9th, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining Click Here for More Info
The model tells us that gold prices were inexpensive for the first five months of 2019 and are slightly undervalued at the end of July 2019. Gold prices should rise in the next five years
Breaking News: COMEX paper gold contracts closed on Wednesday, August 7, at $1,513, up from $1,274 on May 22. Gold bottomed at $1,045 in December 2015. The S&P 500 Index closed at a new all-time high on July 26.
We don’t know. Gold has disappointed for years, but central banks
must “inflate or die.†Expect more QE, lower interest rates and
excessive political and central bank manipulations.
But the more important question is: Are the COMEX prices for paper gold a fair value for the metal, or are they misrepresentative of what prices should be in this debt-based QE manipulated economy?
Should gold prices be higher or lower?
Consider the following graph of actual gold prices (each annual data point is the average of about 250 daily prices) and calculated gold prices based on an updated empirical model.
WHAT THIS GRAPH DOES NOT DO:
It is an empirical model, NOT a mathematical proof. It guarantees
nothing. While the model has worked for five decades, it could become
less effective tomorrow, next year, or never.
The model does NOT use gold or silver prices to produce calculated gold prices.
It is NOT a price prediction for paper gold contracts on the COMEX.
It is NOT a timing model. You shouldn’t TRADE based on this model.
WHAT THIS GRAPH DOES:
The model shows an estimated value for (annual average) gold prices based on macroeconomic variables. It is a valuation model.
The calculated gold model uses official national debt, crude oil, and the S&P 500 Index as input variables.
Test the Assumptions:
Gold prices rise, along with most other prices, as the banking
cartel devalues the dollar and pushes currency units into circulation. A
proxy for inflationary price increases is the official U.S. National
Debt adjusted for population growth.
Official National Debt in 1971 was $400 billion. Today it exceeds
$22,000 billion – over $22 trillion. Debt and prices will increase until
the financial system breaks or resets.
Gold prices rise along with crude oil, the most important global commodity.
Crude oil sold for $2.00 in 1971. Today it sells for $51.00. It
peaked at $147 in 2008. Crude oil prices rise because the banking cartel
devalues the dollar, changing supply and demand, and because
commodities are sometimes more desired than paper assets.
Over the long-term, commodity prices, including oil and gold, rise
and fall opposite to the S&P 500 Index. When investors favor stocks
(and paper investments) commodity prices are often weak. When commodity
prices are strong, stocks are often weak. The model assumes that gold
prices are mildly, but inversely, affected by the S&P 500 Index.
Gold is real money, unlike the digital and paper debts
(“fake-moneyâ€) issued by central banks. Gold will rise in “fake-moneyâ€
units as the banking cartel devalues currency units by issuing
ever-increasing quantities of “fake-money.†In many currencies, gold has
already reached new all-time highs.
Assumptions Summary:
Gold prices move higher as population adjusted national debt increases. (Dollar devaluation drives all prices higher.)
Gold prices move higher and lower with crude oil, another commodity.
Gold prices move opposite to the S&P 500 Index. (Investor preference for commodities versus paper assets.)
The model weighs and combines these macroeconomic variables to produce a “calculated gold price.†Call it a “fair value†price.
Examine the graph of gold prices and calculated gold prices for nearly five decades. Note that:
Calculated prices approximately match the annual average of daily gold prices.
Calculated prices may bottom and rally several years before the paper gold price bottoms and moves upward.
Calculated annual prices don’t reach gold’s high and low daily prices because daily prices spike too high and crash lower.
Buying for the long term makes sense when daily gold prices are low compared to the “calculated†price. (Think early 2019.)
Selling a portion of core positions is sensible when daily prices are well above “calculated†prices, such as in 2011.
Gold Prices in Five Years?
I don’t know, but almost certainly much higher.
The model depends upon national debt (will be much higher), crude
oil prices (higher in five years—probably) and the S&P 500 Index
(flat to higher—maybe).
National debt will rise rapidly. A 100-year average increase is
almost 9% per year, every year. Current economic conditions, no credible
spending restraints, “QE to Infinity,†and the coming recession will
boost deficits and debt into the stratosphere, even without more wars.
Crude oil prices rise and fall. They traded below $11 in 1998,
reached $147 in 2008, but moved below $30 in 2016. Mid-East tensions and
inflationary expectations are rising. It’s reasonable to expect crude
oil prices will not fall much from current levels and might rise
considerably.
The S&P 500 has risen from 100 in the 1960s. It is overvalued
today and likely to fall, but in the long-term it will rise as dollars
are devalued. Assume it corrects and then rises slowly. Remember, the
S&P 500 collapsed over 50% after its 2007 high.
“I think the crashing point is where
the Scottish economist Peter Millar puts it – where interest on debt
starts going exponential and consuming the real economy. In a paper
written in 2006 Millar wrote that fiat money systems based on debt
require periodic currency devaluations to reduce the burden of interest
payments. These devaluations require upward revaluation of the monetary
metals and all real assets relative to debt and currency.
“Indeed, the U.S. economists and fund
managers Paul Brodsky and Lee Quaintance speculated in 2012 that such a
devaluation of currencies and upward revaluation of gold was already
the long-term plan of central banks – that they were
redistributing world gold reserves to allow countries with excessive
U.S. dollar surpluses to hedge themselves against a dollar devaluation.
The resulting upward revaluation of gold, Brodsky and Quaintance wrote, would reliquify central banking around the world.â€
“In simplest terms, easy money blows up bubbles. Bubbles pop and set off a crisis. Rinse. Wash. Repeat.â€
“The economy is loaded up with
government, corporate and consumer debt. The stock markets have been
juiced to record levels. We also see other asset bubbles in high-yield
bonds, housing (again), and commercial real estate, along with a lot of
other assets you don’t hear as much about – such as art and comic
books.â€
“The bottom line is that we can’t
“fix†the economy by electing Republicans or Democrats. We can’t put the
country on sound economic footing by tweaking this or that policy in
Washington D.C. The only way to put the economy on a sound
footing is to deal with the root cause of the problem — the Federal
Reserve and its constant meddling.â€[In the meantime, expect larger deficits and higher gold prices.]
From Groucho Marx:
“Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies.â€[The results include massive deficits, unpayable debt, consumer price inflation and higher gold prices.]
CONCLUSIONS:
The model tells us that gold prices were inexpensive for the
first five months of 2019 and are slightly undervalued at the end of
July 2019.
Gold prices should rise in the next five years. The model, depending
on assumptions for debt increases, crude oil prices and the S&P
500, suggests a fair value of $2,500 to $4,500 in five years. A spike
much higher, perhaps to $10,000, is not unlikely.
Daily prices could double or triple the fair value or fall 10% to 20% below fair value.
This model is not a prediction or guarantee. It is a valuation
model. It could lose accuracy tomorrow, but it has a nearly five-decade
history of success.
Correlation for the annual model since 1971 is 0.97. The R-Squared value is 0.95.
Buy when the market price is at or lower than the calculated gold price, such as now or after the next correction. Sell when market prices drastically exceed calculated fair value, such as in late 1979, early 1980, and July-August 2011.
Miles Franklin
will convert dodgy debt-based dollars into physical metal that has
preserved wealth for millennia. The gold valuation model says buy during
2019 because gold prices are below fair value. Call Miles Franklin at
1-800-822-8080 to purchase undervalued gold and silver bullion and
coins.
Posted by AGORACOM
at 2:39 PM on Tuesday, August 6th, 2019
A 3D Induced Polarization (IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico is underway.
Survey designed to complement and enhance current 3D model of Tabasquena Epithermal veins
Goal of the survey is to assess the depth potential below the near surface mineralized zone
Kamloops, British Columbia–(Newsfile Corp. – August 6, 2019) – Advance Gold Corp. (TSXV: AAX) (“Advance Gold” or “the Company”) is pleased to announce that a 3D Induced Polarization (IP) geophysical survey on its Tabasquena project in Zacatecas, Mexico is underway. This geophysical survey is designed to complement and enhance the 3D model derived from the recent drilling which confirmed a widespread gold and silver mineralized epithermal vein system.
Prior to Advance Gold acquiring the project, a limited IP survey had
been carried out. This historical IP survey effectively identified three
of the known veins as significant chargeability and resistivity
anomalies.
The goal of the survey is to assess the depth potential below the
near surface mineralized zone that was encountered in the andesites,
with the graphitic phyllites below still open at depth. It is important
to note that the vein systems in the nearby mines operated by Fresnillo
Plc., and MAG Silver’s Juanicipio mine currently under construction, are
epithermal veins systems focused on zones within the graphitic
phyllites.
The 3D IP geophysical survey will take thousands of data point
readings on an 800 X 500 metre grid. It is designed to give a clearer
picture of anomalies adjacent to and below the current drilling, which
is primarily down to 300 metres, and possibly see down to approximately
600 metres.
Allan Barry Laboucan, President and CEO of Advance Gold Corp. commented: “We
are in a unique position for a gold and silver explorer as having found
a fully intact epithermal vein system. This is a fairly rare
occurrence. Making things somewhat challenging is that with a system
like this, the boiling zone of the system is deeper. This is the case in
all of the nearby mines around the cities of Fresnillo and Zacatecas,
Mexico. The mines are hosted in the graphitic phyllites below the
andesites. We have drilled a widespread zone of gold and silver
mineralization in the andesites at Tabasquena. Hopefully, once the
geophysical survey is completed we will be better able to focus our
deeper drilling in the search for the boiling zone of the system. With
the gold and silver markets gaining strength, it is a very exciting time
for us to be advancing this exceptional project. In addition to the
technical merits of the project, we are in one of the most prolific
mining regions worldwide for silver as 10% of the historical world
silver production comes from the state of Zacatecas, from epithermal
vein systems. Since we made the discovery of this system approximately
one year ago, the gold and silver markets have gone from being subdued
to much more optimistic. One of the defining attributes of this region,
in addition to the prolific mines, is that the costs for exploration,
development and mining are some of the lowest in the mining sector. We
have a highly prospective project at Tabasquena, are doing the work to
advance the project, have a small and tight share structure and will be
delivering crucial news as the market for gold and silver are improving
yet the menu for investors to choose from is small when it comes to the
exploration of quality projects.”
Julio Pinto Linares is a QP, Doctor in Geological Sciences with
specialty in Economic Geology and Qualified Professional No. 01365 by
MMSA., and QP for Advance Gold and is the qualified person as defined by
National Instrument 43-101 and he has read and approved the accuracy of
technical information contained in this news release.
About Advance Gold Corp. (TSXV: AAX)
Advance Gold is a TSX-V listed junior exploration company focused on
acquiring and exploring mineral properties containing precious metals.
The Company acquired a 100% interest in the Tabasquena Silver Mine in
Zacatecas, Mexico in 2017, and the Venaditas project, also in Zacatecas
state, in April, 2018.
The Tabasquena project is located near the Milagros silver mine near
the city of Ojocaliente, Mexico. Benefits at Tabasquena include road
access to the claims, power to the claims, a 100-metre underground shaft
and underground workings, plus it is a fully permitted mine.
Venaditas is well located adjacent to Teck’s San Nicolas mine, a VMS
deposit, and it is approximately 11km to the east of the Tabasquena
project, along a paved road.
In addition, Advance Gold holds a 14.63% interest on strategic claims
in the Liranda Corridor in Kenya, East Africa. The remaining 85.37% of
the Kakamega project is held by Acacia Mining (63% owned by Barrick Gold
Corporation).
For further information, please contact: Allan Barry Laboucan, President and CEO Phone: (604) 505-4753 Email: [email protected]
Posted by AGORACOM-JC
at 8:31 AM on Wednesday, July 31st, 2019
Monarch produced 3,572 ounces of gold in the fourth quarter, up 169% from the third quarter and down 24% from the 4,695 ounces produced last year.
The increase was attributable to a rise in the production rate at the Camflo mill and the Beaufor mine combined with a higher grade of ore.
MONTREAL, July 31, 2019 – MONARCH GOLD CORPORATION (“Monarch” or the “Corporation”) (TSX: MQR) (OTCMKTS: MRQRF) (FRANKFURT: MR7) is pleased to report its production and corporate highlights for the fourth quarter ended June 30, 2019. Amounts are in Canadian dollars unless otherwise indicated.
Production highlights
Monarch produced 3,572 ounces of gold in the fourth quarter, up 169%
from the third quarter and down 24% from the 4,695 ounces produced last
year. The increase was attributable to a rise in the production rate at
the Camflo mill and the Beaufor mine combined with a higher grade of
ore.
The Corporation recorded revenues of $7.3 million in the fourth quarter from the sale of 2,666 ounces of gold at an average price of $1,764 per ounce (US $1,333)
plus custom milling revenue, which was down 3.1% from the third quarter
due to an increase in the tonnage milled from the Beaufor mine.
As at June 30, 2019, the Corporation had more than 1,100 ounces of gold in inventory.
“This was a solid quarter in terms of performance, especially given
that we operated with approximately one-third the workforce we had last
year,” said Jean-Marc Lacoste, President and Chief
Executive Officer of Monarch. “This quarter also marks the suspension of
our production activities at the Beaufor mine during the quarter, as of
June 27, 2019, and at the Camflo mill on July 10, 2019.
Given the current gold environment, our team is focusing on identifying
new exploration targets at the Beaufor mine and preparing a drilling
program on the most promising targets, while Camflo is currently
undergoing maintenance work that should take place over a 90-day
period.”
“Despite the fact that we have suspended our production activities,
Monarch is in an excellent position to benefit from the current upward
trend in gold prices. The Corporation has a large portfolio of
high-quality mining assets that include two mills, six advanced gold
projects with total measured and indicated resources of more than
3.1 million ounces of gold (see table at the end of this press release),
a 14.2% interest in Unigold (TSXV: UGD), as well as a strong financial
position. Our goal in the coming quarters will be to develop our
flagship Wasamac project, which has an annual production potential of
142,000 ounces of gold over 11 years (see press release dated December 3, 2018), and to increase the value of our assets through partnerships and other transactions.”
Production statistics
Three months ended June 30, 2019
Three months ended June 30, 2018
Twelve months ended June 30, 2019
Twelve months ended June 30, 2018
Beaufor mine
Ore processed (tonnes)
27,648
30,523
96,212
98,394
Gold recovery (%)
98.24
98.70
98.17
98.76
Ounces produced
3,572
4,695
13,225
15,071
Ounces sold
2,666
4,589
12,534
14,856
Corporate highlights
On May 9, 2019, the Corporation acquired a block of 6.5 million shares of Unigold Inc. (TSXV: UGD) from an investor at an agreed price of $0.115 per share, for a total of $747,500, payable by the issuance of 3.25 million common shares of the Corporation at an agreed price of $0.23 each (see press release).
On June 18, 2019, the Corporation announced the
signature of binding letters of intent for the acquisition of an
aggregate 100% interest in the Fayolle property from Hecla Quebec Inc.,
formerly known as Aurizon Mines Ltd. (NYSE: HL), and Typhoon Exploration
Inc. (TSXV: TYP) (see press release).
On June 19, 2019, the Corporation announced that its
wholly-owned subsidiary Louvem Mines Inc. had sold a 2% net smelter
return (“NSR”) royalty on certain claims of the Chimo Mine property to
Cartier Resources Inc. (TSXV: ECR) in consideration of a cash payment of
$350,000 (see press release).
On July 25, 2019, the Corporation sold its portfolio of
net smelter return (“NSR”) royalties on the Chimo property (owned by
Chalice Gold Mines Ltd) for a cash payment of $350,000.
Monarch held a portfolio of NSR royalties ranging from 0.50% to 2.50% on
the Chimo property, which surrounds the Chimo Mine property.
Monarch Gold Corporation (TSX: MQR) is an emerging gold mining
company focused on pursuing growth through its large portfolio of
high-quality projects in the Abitibi mining camp in Quebec, Canada. The Corporation currently owns close to 300 km² of gold properties (see map), including the Wasamac deposit (measured and indicated resource of 2.6 million ounces of gold), the Croinor Gold (see video), McKenzie Break, Beaufor and Swanson
advanced projects and the Camflo and Beacon mills, as well as other
promising exploration projects. It also offers custom milling services
out of its 1,600 tonne-per-day Camflo mill.
Forward-Looking Statements
The forward-looking statements in this press release involve known
and unknown risks, uncertainties and other factors that may cause
Monarch’s actual results, performance and achievements to be materially
different from the results, performance or achievements expressed or
implied therein. Neither TSX nor its Regulation Services Provider (as
that term is defined in the policies of the TSX accepts responsibility
for the adequacy or accuracy of this press release.
2 Source: Monarques prefeasibility study (January 19, 2018) and resource estimate (January 8, 2016)
3 Source: NI 43â€101 Technical Report on the Swanson Project,
June 20, 2018, Christine Beausoleil, P.Geo., and Alain Carrier, P.Geo.,
M.Sc., of InnovExplo Inc.
4 Source: NI 43â€101 Technical Report on the McKenzie Break
Project, April 17, 2018, Alain-Jean Beauregard, P.Geo., and Daniel
Gaudreault, Eng., of Geologica Groupe-Conseil Inc. and Christian
D’Amours, P.Geo., of GeoPointCom Inc.
Tags: #mining, #Resources, CSE, gold, stocks, tsx, tsx-v Posted in Monarques Gold | Comments Off on Monarch Gold $MQR.ca Produces 3,572 Ounces of Gold and Generates $7.3 Million in Revenue in the Fourth Quarter $GDX.ca $ECR.ca $MZZ.ca $QMX.ca $IMG.ca $IAG $MUX
Posted by AGORACOM-JC
at 10:55 AM on Tuesday, July 30th, 2019
780 Meter Intercept of 0.683 g/t Gold;
Including a higher grade upper portion of 1.095 g/t over 370.5 meters in new hole at Treaty Creek
Results prompting mobilization of second drill to project
Darren Blaney, President and CEO of American Creek, commented: “This is very encouraging as we have our best hole to date at Treaty. Furthermore, in addition to a major extension of the system to the northeast, we are now seeing some high grade gold, silver and base metals showing up in the core. I congratulate Mr. Konkin on delivering the goods. Well done!”
Cardston, Alberta–(July 30, 2019) – American Creek Resources Ltd. (TSXV: AMK) (“the Corporation”) (“American Creek”) is pleased to announce results from the first three diamond drill holes at the Goldstorm Zone on the Treaty Creek Joint Venture project, located in the Golden Triangle of NW British Columbia. In light of the favourable results obtained during phase one drilling, a second drill has arrived on-site and has begun drilling for the phase two portion of the program.
Tudor Gold Exploration Manager, Ken Konkin explains:
“The Goldstorm system continues to grow rapidly along strike to the
northeast and towards the footwall contact zone to the southeast. The
best near-surface intercept obtained to-date on the project has been
obtained from the latest hole; GS19-42. This is a vertical hole that is a
150m step-out to the northeast from drill hole CB18-39 (0.981g/t Au
over 563.8m intercept). The higher grade upper portion of last year’s
hole CB18-39 averaged 1.141 g/t Au over 280.5m compared to the same
upper mineralized horizon of GS19-42 that averages 1.268 g/t Au over a
252.0 m intercept. The system appears to be gaining strength to the
northeast as the depth is now showing to exceed 700m, with an average of
0.683 g/t Au over 780 meters of vertical intercept. The mineralized
horizon appear to be near flat-lying with excellent grade consistency
between holes along the upper horizon. Exploration efforts will attempt
to extend the zone further to the northeast with yet another 150m NE
step-out hole from GS19-42.”
Drill holes GS19-40 and GS19-41, were successful in locating the
footwall contact zone, which is a very fine-grained strongly silicified
volcanic unit. Furthermore, porphyritic intrusive was also encountered
at the base of GS19-40, and within GS19-41 that returned anomalous
copper and molybdenum values. As well, a strong silver-bearing
base-metal system has been seen for the first time in the northernmost
hole (GS19-42), within the upper mineralized horizon. Values of 33.51
g/t Au, 1,154 g/t Ag, 2.89% Cu, 5.96% Pb and 1.89% Zn were returned over
a 1.5 meter interval from 209.5 m to 211.0 m was a pleasant surprise in
the last hole GS19-42.
The following table provides gold composites from the Goldstorm Zone in the first three 2019 drill holes completed:
Table I: Gold Composites for GS19-42, 41 and 40
SECTION
HOLE ID
FROM M
TO M
Interval (M)
GOLD (gpt)
112+50NE
GS19-42
63.5
843.5
780
0.683
including
63.5
315.5
252
1.268
including
63.5
434
370.5
1.095
108+00NE
GS19-41
27.5
353
325
0.589
including
47
146
99
1.015
GS19-40
23
350
327
0.443
including
81.5
127
45.5
0.907
* All assay values are uncut and intervals reflect drilled intercept lengths.
* True widths of the mineralization have not been determined.
Goldstorm Zone Drill Sections 108+00 NE and
112+50 NE and Goldstorm Zone Plan Map are included at the bottom of the
news release.
Walter Storm, President and CEO of Tudor Gold, stated:
“I am delighted to see that the Goldstorm Zone has been expanded for
another 150 meters with this step out drill-hole 42. I am looking
forward to potentially expanding the Goldstorm zone again with another
150 meter step out drill-hole, which has started with our second drill.”
Darren Blaney, President and CEO of American Creek, commented:
“This is very encouraging as we have our best hole to date at Treaty.
Furthermore, in addition to a major extension of the system to the
northeast, we are now seeing some high grade gold, silver and base
metals showing up in the core. I congratulate Mr. Konkin on delivering
the goods. Well done!”
QA/QC
Drill core samples were prepared at MSA
Labs’ Preparation Laboratory in Terrace, BC and assayed at MSA Labs’
Geochemical Laboratory in Langley, BC. Analytical accuracy and precision
are monitored by the submission of blanks, certified standards and
duplicate samples inserted at regular intervals into the sample stream
by Tudor Gold personnel. MSA Laboratories quality system complies with
the requirements for the International Standards ISO 17025 and ISO 9001.
Qualified Person
The Qualified Person for this news release
for the purposes of National Instrument 43-101 is Tudor Gold’s
Exploration Manager, Ken Konkin, P.Geo. He has read and approved the
scientific and technical information that forms the basis for the
disclosure contained in this news release.
About American Creek
American Creek is a Canadian junior mineral
exploration company with a strong portfolio of gold and silver
properties in British Columbia.
Three of those properties are located in
the prolific “Golden Triangle”; the Treaty Creek and Electrum joint
venture projects with Tudor Gold/Walter Storm as well as the 100% owned
past producing Dunwell Mine.
The Treaty Creek Project is a Joint Venture
with Tudor Gold owning 60% and acting as operator. American Creek and
Teuton Resources each have 20% interests in the project. American Creek
and Teuton are both fully carried until such time as a Production Notice
is issued, at which time they are required to contribute their
respective 20% share of development costs. Until such time, Tudor is
required to fund all exploration and development costs while both
American Creek and Teuton have “free rides”.
Tudor is presently conducting a major drill
program at Treaty Creek with the objective being to define a
significant gold resource.
The Corporation also holds the Gold Hill,
Austruck-Bonanza, Ample Goldmax, Silver Side, and Glitter King
properties located in other prospective areas of the province.
For further information please contact Kelvin Burton at: Phone: 403 752-4040 or Email: [email protected]. Information relating to the Corporation is available on its website at www.americancreek.com.
Neither the TSX Venture
Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Tags: #mining, gold, Seabridge Gold, stocks, tsx, tsx-v Posted in American Creek Resources Ltd., Featured | Comments Off on American Creek $AMK.ca Reports 780m Intercept of 0.683 g/t #Gold Including a Higher Grade Upper Portion of 1.095 g/t over 370.5m in New Hole at Treaty Creek Prompting Mobilization of Second Drill to Project $SII.ca $SA $SKE.ca $TUD.ca $PVG.ca $MRO.ca $NGT.ca $SPMT.ca $GTT.ca$III.ca $GGI.ca
Posted by AGORACOM
at 10:10 AM on Monday, July 29th, 2019
SPONSOR: Advance Gold AAX.v – Advance Gold controls 100% interest in the Tabasquena Silver Mine in Zacatecas, Mexico. A cluster of 30 Epithermal veins have been discovered, with recent emphasis on exploring a large anomaly to drill. Advance also owns 15% of the Kakamega JV attached to Barrick Takeover Offer for Acacia Mining
Caution ahead of this week’s U.S. Federal Reserve meeting, with investors likely to look beyond an expected rate cut
Interest rate futures are fully priced for a quarter-point rate cut from the Fed on Wednesday, with only a small chance of a half-point move.
Gold was little changed on Monday as caution set
in ahead of this week’s U.S. Federal Reserve meeting, with investors
likely to look beyond an expected rate cut to the central bank’s
guidance on monetary policy for the rest of the year.
“A rate cut is entirely priced in while a 50 basis points cut is
extremely unlikely. So guidance becomes absolutely key,†OANDA senior
market analyst Craig Erlam said.
â€(Gold’s movement) will depend
on how dovish or how far ajar Jerome Powell leaves the door on these
rate cuts in the months ahead.â€
For the first time since the
financial crisis, the Fed is expected to trim the key interest rate by
at least 25 basis points (bps) at its July 30-31 meeting. Investors will
also look for signals of likely additional cuts in the pipeline.
“Much will also depend on what Fed Chair Powell says in the subsequent
press conference: if he makes no mention of a cycle of rate cuts,
causing gold to come under pressure, we would not see this as a trend
reversal but as an attractive buying opportunity,†analysts at
Commerzbank said in a note.
Interest rate futures are fully priced
for a quarter-point rate cut from the Fed on Wednesday, with only a
small chance of a half-point move.
Traders
will also keep a close eye on the U.S. and Chinese trade talks in
Shanghai this week, as negotiators from both countries meet for their
first in-person talks since a truce at G20 last month. Expectations are
low for a breakthrough.
On the technical front, $1,400 will be the key downside support for gold, and beyond that, $1,380, OANDA’s Erlam said.
“Bulls are very reluctant to let go just yet, but if we do see those
levels break, we might see gold bulls head for the exits quite quickly.â€
Hedge
funds and money managers reduced their bullish stance in COMEX gold in
the week to July 23, the U.S. Commodity Futures Trading Commission
(CFTC) said in a report on Friday.
SPDR Gold Trust, the world’s largest gold-backed exchange-traded fund, said its holdings fell 0.1% to 818.14 tonnes on Friday.
Among other precious metals, silver dipped 0.1% to $16.37 per ounce.
Palladium fell 0.3% to $1,530.38 per ounce, while platinum gained 0.8% to $867.26 per ounce.
Posted by AGORACOM
at 7:30 PM on Tuesday, July 16th, 2019
Barrick Gold Corporation’s offer for Acacia Mining PLC under review by Independent Mining Consultants
Arguing Acacia is worth 38% more than Barrick’s offer
The takeover offer and its effect on the Kakamega joint venture project between Acacia and Advance Gold are not yet understood
The Kakamega joint venture project is owned 85.37% by Acacia and 14.63% by Advance Gold
New licenses for the joint venture project were issued and exploration program is underway post rainy season
Kakamega – The Rosterman Mine
Acacia Exploration Kenya Ltd. (“Acaciaâ€) has 85.47% equity in the
Kakamega Project, which comprises the Rosterman, Burkura, and Sigalagala
Projects in Kenya, East Africa.
Rosterman SL267: The most northerly of the three
licences hosts the historic Rosterman mine, which is reported to have
produced in excess of 250,000oz Au at average grade in excess of 13g/t. Click Click here for map
Bukura SL265 and Sigalagala SL266: The southern licences host numerous significant historical colonial mines and areas of active artisanal mining. Click here for map
About Advance Gold Corp. (TSXV: AAX)
Advance Gold is a TSX-V listed junior exploration company focused on
acquiring and exploring mineral properties containing precious metals.
The Company acquired a 100% interest in the Tabasquena Silver Mine in
and the Venaditas project in Zacatecas state. Advance Gold also holds a
14.63% interest in the Kakamega project held by Acacia Mining (63% owned
by Barrick Gold Corporation)