
February 14, 2022
Coherent 2.7km long anomaly is located just 10km south of the Manna lithium prospect and represents a priority drill target
Kairos Minerals Ltd (ASX: KAI “Kairos” or “the Company”) is pleased to advise that it has identified a new coherent lithium and pathfinder elements anomalous corridor at its 100%-owned Roe Hills Project, located east of Kalgoorlie in WA. This high-priority lithium target is located approximately ~10km south of the Manna Lithium Project, owned by Global Lithium Resources and Breaker Resources (ASX: GL1 and ASX: BRB).
Highlights
- A review of the soil sampling program conducted in 2020 has identified a coherent lithium and pathfinder elements anomaly at the 100%-owned Roe Hills Project in WA.
- The 2.7km x 0.4km northeast-trending lithium anomaly is similar in terms of its orientation, interpreted geology, and geochemistry to the Manna Lithium Prospect, now 80%-owned by global Lithium Resources (ASX: GL1), located ~10km north of the Roe Hills project area.
- The soil sampling program was initially designed to target gold and base metal mineralisation, based on geophysical interpretation.
- A detailed mapping and rock chip sampling program has been initiated, with air-core and potentially follow-up Reverse Circulation (RC) drilling planned as a priority.
Kairos’ Executive Chairman, Terry Topping, said:
“This is an exciting discovery, which was made following a detailed review of the extensive geochemical sampling program completed in 2020. The significance of this extending north-east trending anomaly has been further enhanced by the discovery of the Manna lithium prospect, located 10km to the north, by Breaker Resources (ASX: BRB).
“Breaker has recently transacted on this exciting emerging discovery in a deal with Global Lithium Resource (ASX: GL1), which has acquired an 80% interest in the tenements.
“Given the scale and potential significance of the anomalism, we recently conducted a site visit which has shown that the anomalous area is suitable for AC drilling and potential follow-up RC drilling. We have initiated an extensive field program with additional soil sampling and mapping underway and, with heritage clearances already in place, we will prioritise drilling as soon as we can secure a suitable drilling rig.
“In light of this significant development, the Kairos geology team recently completed a desktop study based on existing available data to identify other potential lithium targets at Roe Hills. This work has been successful in delineating at least eight areas of interest, which will also now be followed up by our field teams.
"This is an exciting new lithium exploration opportunity which complements the significant lithium targets we have defined recently within our Pilbara exploration portfolio.”
Click here for the full ASX Release
This article includes content from Kairos Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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9h
Flagship Commences Review of Anglo Dataset at 1Moz+ Pantanillo Gold Project, Chile
Data confirms large oxide system - Re-cutting published cross sections withexceptional grades and scale - Multiple +100 gram/meter intersections
Flagship Minerals Limited (ASX:FLG) (“Flagship” or “the Company”) is pleased to confirm that its initial review of the recently purchased Pantanillo dataset from Anglo American Norte SpA (Anglo) confirms that it is in good order and comprises over 700 files containing >10,000 documents. This is accompanied by over 100 tonnes of core, pulps and sample.
KEY POINTS
- Dataset facilitates fast-tracking conversion of current 1.05Moz Au foreign estimate (ǪFE1,2 NI 43- 101) into a Mineral Resource Estimate in accordance with the JORC Code 2012.
- Data confirms and enhances large intervals of gold mineralisation, confirming potential for significant MRE growth.
- Exceptional broad intercepts from re-cut drill results include
- 193m @ 1.01g/t from 28m inc. 116m @ 1.50g/t Au from 86m (SR97PN12)
- 142m @ 1.13g/t Au from 310m inc. 86m @ 1.54g/t Au from 348m (PN-08)
- 320.3m @ 0.62g/t Au from 126m inc. 116m @ 1.03g/t Au from 134m (PN-02)
- 317.5m @ 0.60g/t Au from 206m inc. 74m @ 1.18g/t Au from 376m (PN-06)
- 300.6m @ 0.54g/t Au from 166m inc. 64m @ 0.92g/t Au from 288m (PN-10)
- 493m @ 0.53g/t Au from 9m inc. 158m @ 0.86g/t Au from 52m (PN-03)
- The top 20 drill intersections average 205m @ 0.65g/t Au
- Flagship collating and validating drillhole data and supporting information for use in Mineral Resource estimation
- Additional exploration data also being reviewed
Flagship Minerals’ Managing Director, Paul Lock, commented:
“The acquisition of Anglo American’s dataset is a game-changer for Flagship.
“With a dataset comprising over 700 files containing >10,000 documents, and accompanied by over 100 tonnes of core, pulps and sample, we’re now in the process of re-evaluation, including the updated drill intercepts herein.
“What we’re seeing are multiple long runs of +100 gram-metre intercepts in oxide material — with outstanding results such as 11Cm at 1.5g/t and 142m at 1.13g/t gold, as well as several +300m intersections at >0.50g/t gold. This confirms Pantanillo’s credentials as a large, scalable heap leach opportunity.
“With the full dataset in hand, we’re now in a strong position to fast track conversion of the current 1.05Moz foreign estimate to a JORC Mineral Resource and, with adjusted cut-off grades and updated economics, we expect to bring in additional ozs without additional drilling.
“At a time when global interest in gold is rising, and with gold breaking US:3,C00/oz, a record high, Flagship is positioned very well with an advanced gold project which is doable and which is located in a neighbourhood demonstrating low capital intensity and AISC outcomes.”
The project data acquired from Anglo is extensive and is comprised of over 700 folders, containing >10,000 individual files all of which totals over 32GB of data. Preliminary review shows the data and associated files are generally in good order. Flagship has elected to initially concentrate on the drillhole data associated with the ǪFE in order to expedite the preparation of a JORC (2012) Mineral Resource Estimate for the project.
The drillhole database contains 183 holes for a total of 30,370.2m of drilling and comprises 18,865 assayed samples across 29,848.5m of drilling. The bulk of this drilling has been conducted at Pantanillo Norte where 1.05Moz of Au @ 0.69g/t Au has been defined ǪFE of mineralisation. Flagship will use this drillhole data and other supporting information to prepare a JORC (2012) Mineral Resource estimate for the Pantanillo Norte deposit. Flagship has also acquired approximately 14,000m of diamond drill core from 48 holes drilled at Pantanillo Norte. This core, as well as a large amount assay pulps and reject samples from the previous diamond core and RC drilling are available for analysis.
Flagship has generated a new set of assay intersections from the drillhole data used in the ǪFE. The intersections are calculated at a lower cut-off of 0.15g/t Au allowing for up 6m of internal dilution at <0.15g/t Au. Higher grade internal intersections were calculated at a 0.5g/t Au lower cutoff and allowed for up to 6m of internal dilution at <0.5g/t Au. These intersections are reported in Appendix 1 along with the drill collar data. Additional technical information is reported in Appendix 3 being Table 1 of the JORC Code (2012). The hitherto reported intersections by Flagship are intersections reported by previous explorers using a lower cutoff of 0.30g/t Au. Flagship consider a lower cutoff of 0.15g/t Au is more appropriate for the deposit type. This lower cutoff has also been adopted by other operators in the region for NI 43-101 Mineral Resource reporting.
Click here for the full ASX Release
This article includes content from Flagship Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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18h
Gold Price Soars Past US$3,500 to New High as Market Eyes September Rate Cut
The gold price climbed to new record highs on Tuesday (September 2), reaching US$3,539.90 per ounce.
The yellow metal has had upward momentum since US Federal Reserve Chair Jerome Powell’s comments at the Jackson Hole Economic Policy Symposium on August 22 fueled speculation about a September interest rate cut.
He suggested risks in the market may be shifting as greater uncertainty bleeds into the American economy on the back of higher tariffs, tighter immigration and slowing growth in the labor market.
The latest inflation data was released last week, when the US Bureau of Economic Analysis (BEA) published personal consumption expenditures (PCE) price index data. The report indicates that core PCE, which excludes the volatile food and energy categories, rose 2.9 percent in July, up from the 2.8 percent recorded in June.
The PCE is the Fed's favored inflation metric when making rate policy decisions.
Gold price chart, September 2, 2025.
Chart via the Investing News Network.
The next inflation data in the calendar is the BEA’s consumer price index (CPI) report, set to be released on September 11. Early estimates from the Federal Reserve Bank of Cleveland suggest that core CPI continued to creep up in August and will come in at 3.05 percent, higher than the rise of 3.1 percent seen in July.
The Fed will also receive new labor market figures before its September 16 to 17 meeting. The Bureau of Labor Statistics is due to release its August nonfarm payroll report on Friday (September 5).
Analysts are predicting another weak report, with expectations of 73,000 additions to the US labor force; the unemployment rate is projected to tick up to 4.3 percent from the current 4.2 percent.
In July, the report indicated that just 73,000 jobs were added to the economy, but more significantly, it provided downward revisions for May and June, totaling 258,000 jobs combined.
Even though inflation is drifting further from the Fed's 2 percent goal, slowing growth in the labor market is likely to have greater weight ahead of the Fed meeting. There is currently a 90 percent chance of a 25 basis point cut.
Adding more fuel to the fire is an appeals court ruling on August 29 that struck down the majority of US President Donald Trump's reciprocal tariffs as unconstitutional, including those levied against Canada, Mexico and China.
However, tariffs on steel and aluminum were spared in the decision. The court said the tariffs will remain in place until October 14, providing sufficient time for the White House to launch an appeal to the Supreme Court.
Investors have turned to gold since the start of the year amid uncertainty caused by tariffs and as a debt crisis threatens the broader US economy. Additional momentum has come from the safe-haven status of precious metals as conflicts in Eastern Europe and the Middle East have continued unabated, threatening stability in both regions.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
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20h
What Was the Highest Price for Gold?
Gold has long been considered a store of wealth, and the price of gold often makes its biggest gains during turbulent times as investors look for cover in this safe-haven asset.
The 21st century has so far been heavily marked by episodes of economic and sociopolitical upheaval. Uncertainty has pushed the precious metal to record highs as market participants seek its perceived security.
And each time the gold price rises, there are calls for even higher record-breaking levels.
Gold market gurus from Lynette Zang to Chris Blasi to Jordan Roy-Byrne have shared eye-popping predictions on the gold price that would intrigue any investor — gold bug or not.
Some have posited that the gold price may rise as high as US$4,000 or US$5,000 per ounce, and there are those who believe that US$10,000 gold or even US$40,000 gold could become a reality.
These impressive price predictions have investors wondering, what is gold's all-time high (ATH)?
In the past year, gold has reached a new all-time high dozens of times. Find out what has driven it to these levels, plus how the gold price has moved historically and what has driven its performance in recent years.
In this article
How is gold traded?
Before discovering what the highest gold price ever was, it’s worth looking at how the precious metal is traded. Knowing the mechanics behind gold's historical moves can help illuminate why and how its price changes.
Gold bullion is traded in dollars and cents per ounce, with activity taking place worldwide at all hours, resulting in a live price for the metal. Investors trade gold in major commodities markets such as New York, London, Tokyo and Hong Kong. London is seen as the center of physical precious metals trading, including for silver. The COMEX division of the New York Mercantile Exchange is home to most paper trading.
There are many popular ways to invest in gold. The first is through purchasing gold bullion products such as bullion bars, bullion coins and rounds. Physical gold is sold on the spot market, meaning that buyers pay a specific price per ounce for the metal and then have it delivered. In some parts of the world, such as India, buying gold in the form of jewelry is the largest and most traditional route to investing in gold.
Another path to gold investment is paper trading, which is done through the gold futures market. Participants enter into gold futures contracts for the delivery of gold in the future at an agreed-upon price.
In such contracts, two positions can be taken: a long position under which delivery of the metal is accepted or a short position to provide delivery of the metal. Paper trading as a means to invest in gold can provide investors with the flexibility to liquidate assets that aren’t available to those who possess physical gold bullion.
One significant long-term advantage of trading in the paper market is that investors can benefit from gold’s safe-haven status without needing to store it. Furthermore, gold futures trading can offer more financial leverage in that it requires less capital than trading in the physical market.
Interestingly, investors can also purchase physical gold via the futures market, but the process is complicated and lengthy and comes with a large investment and additional costs.
Aside from those options, market participants can invest in gold through exchange-traded funds (ETFs). Investing in a gold ETF is similar to trading a gold stock on an exchange, and there are numerous gold ETF options to choose from. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Other gold ETFs center on gold-mining stocks or follow the gold spot price.
It is important to understand that you will not own any physical gold when investing in an ETF — in general, even a gold ETF that tracks physical gold cannot be redeemed for tangible metal.
With regards to the performance of gold versus trading stocks, gold has an interesting relationship with the stock market. The two often move in sync during “risk-on periods” when investors are bullish. On the flip side, they tend to become inversely correlated in times of volatility. There are a variety of options for investing in stocks, including gold mining stocks on the TSX and ASX, gold juniors, precious metals royalty companies and gold stocks that pay dividends.
According to the World Gold Council, gold's ability to decouple from the stock market during periods of stress makes it “unique amongst most hedges in the marketplace.” It is often during these times that gold outperforms the stock market. For that reason, it is often used as a portfolio diversifier to hedge against uncertainty.
What was the highest gold price ever?
The gold price peaked at US$3,539.90, its all-time high, during trading on September 2, 2025.
Gold price chart, January 1, 2025, to September 2, 2025.
Chart via the Investing News Network.
What drove it to set this new ATH? Gold reached its new highest price amid significant uncertainty in the US and global economies.
One significant driver came on August 29, when a US federal appeals court ruled that US President Donald Trump's "liberation day" tariffs, announced in April, are illegal, stating that only Congress has the power to enact widespread tariffs. The Trump administration is expected to appeal the ruling, which will go into effect on October 14.
Stock markets fell during trading September 2, while treasury yields in the US and abroad rose significantly, providing tailwinds to the gold price. Gold was also boosted by speculation of interest rate cuts by the US Federal Reserve at the September meeting, which will take place between September 16 and 17.
News surrounding the tariffs had previously led gold to reach multiple new highs back in April, as we dive into below.
Why is the gold price setting new highs in 2025?
This string of record-breaking highs this year are caused by several factors.
Increased economic and geopolitical turmoil caused by the new Trump administration has been a tailwind for gold this year, as well as a weakening US dollar, sticky inflation in the country and increased safe haven gold demand.
Since coming into office in late January, Trump has threatened or enacted tariffs on many countries, including blanket tariffs on longtime US allies Canada and Mexico and tariffs on the European Union. Trump has also implemented 25 percent tariffs on all steel and aluminum imports.
The gold price set a string of new highs in the month of April amid high market volatility as markets reacted to tariff decisions from Trump and the escalating trade war between the US and China. By April 11, Trump had raised US tariffs on Chinese imports to 145 percent and China has raised its tariffs on US products to 125 percent.
As for the effect of these widespread tariffs raising prices for the American populace, Trump has reiterated his sentiment that the US may need to go through a period of economic pain to enter a new "golden age" of economic prosperity. Falling markets and a declining US dollar support gold, as did increased gold purchasing in China in response to US tariffs on the country. Elon Musk's call to audit the gold holdings in Fort Knox has also brought attention to the yellow metal.
What factors have driven the gold price in the last five years?
Despite these recent runs, gold has seen its share of both peaks and troughs over the last decade. After remaining rangebound between US$1,100 and US$1,300 from 2014 to early 2019, gold pushed above US$1,500 in the second half of 2019 on a softer US dollar, rising geopolitical issues and a slowdown in economic growth.
Gold’s first breach of the significant US$2,000 price level in mid-2020 was due in large part to economic uncertainty caused by the COVID-19 pandemic. To break through that barrier and reach what was then a record high, the yellow metal added more than US$500, or 32 percent, to its value in the first eight months of 2020.
Gold price chart, August 31, 2020, to September 1, 2025.
Chart via the Investing News Network.
The gold price surpassed that level again in early 2022 as Russia's invasion of Ukraine collided with rising inflation around the world, increasing the allure of safe-haven assets and pulling the yellow metal up to a price of US$2,074.60 on March 8, 2022. However, it fell throughout the rest of 2022, dropping below US$1,650 in October.
Although it didn't quite reach the level of volatility as the previous year, the gold price experienced drastic price changes in 2023 on the back of banking instability, high interest rates and the breakout of war in the Middle East.
After central bank buying pushed the gold price up to the US$1,950.17 mark by the end of January, the US Federal Reserve’s 0.25 percent rate hike on February 1 sparked a retreat as the dollar and Treasury yields saw gains. The precious metal went on to fall to its lowest price level of the year at US$1,809.87 on February 23.
The banking crisis that hit the US in early March caused a domino effect through the global financial system and led to the mid-March collapse of Credit Suisse, Switzerland’s second-largest bank. The gold price jumped to US$1,989.13 by March 15. The continued fallout in the global banking system throughout the second quarter of the year allowed gold to break above US$2,000 on April 3, and go on to flirt with a near-record high of US$2,049.92 on May 3.
Those gains were tempered by the Fed’s ongoing rate hikes and improvements in the banking sector, resulting in a downward trend in the gold price throughout the remainder of the second quarter and throughout Q3. By October 4, gold had fallen to a low of US$1,820.01 and analysts expected the precious metal to drop below US$1,800.
That was before the October 7 attacks by Hamas on Israel ignited legitimate fears of a much larger conflict erupting in the Middle East. Reacting to those fears, and to rising expectations that the Fed would begin to reverse course on interest rates, gold broke through the important psychological level of US$2,000 and closed at US$2,007.08 on October 27. As the fighting intensified, gold reached a then-new high of US$2,152.30 in intraday trading on December 3.
That robust momentum in the spot gold price continued into 2024, chasing new highs on fears of a looming US recession, the promise of Fed rate cuts on the horizon, the worsening conflict in the Middle East and the tumultuous US presidential election year. By mid-March, gold was pushing up against the US$2,200 level.
That record-setting momentum continued into the second quarter of 2024 when gold broke through US$2,400 in mid-April on strong central bank buying, sovereign debt concerns in China and investors expecting the Fed to start cutting interest rates. The precious metal went on to hit US$2,450.05 on May 20.
Throughout the summer, the hits kept on coming.
The global macro environment was highly bullish for gold in the lead up to the US election. Following the failed assassination attempt on Trump and a statement about coming interest rate cuts by Fed Chair Powell, the gold spot price hit a then new all-time high on July 16 at US$2,469.30. One week later, news that then-President Joe Biden would not seek re-election and would instead pass the baton to Vice President Kamala Harris eased some of the tension in the stock markets and strengthened the US dollar. This also pushed the price of gold down to US$2,387.99 on July 22, 2024.
However, the bullish factors supporting gold remained in play, and the spot price for gold went on to breach US$2,500 on August 2 that year on a less than stellar US jobs report; it closed just above the US$2,440 level. A few weeks later, gold pushed past US$2,500 once again on August 16, closing above that level for the first time ever after the US Department of Commerce released data showing a fifth consecutive monthly decrease in a row for homebuilding.
The news that the Chinese government issued new gold import quotas to banks in the country following a two month pause also helped fuel the gold price rally. Central bank gold buying has been a significant tailwind for the gold price this year, and China's central bank has been one of the strongest buyers.
Market watchers expected the Fed to cut interest rates by a quarter point at their September 2024 meeting, but news on September 12 that the regulators were still deciding between the expected cut or a larger half-point cut led gold prices on a rally that carried through into the next day, bringing gold prices near US$2,600.
At the September 18 Fed meeting, the committee ultimately made the decision to cut rates by half a point, news that sent gold even higher. By September 20, it moved above US$2,600 and held above US$2,620.
In October 2024, gold first breached the US$2,700 level and continued to higher on a variety of factors, including further rate cuts and economic data anticipation, the escalating conflict in the Middle East between Israel and Hezbollah, and economic stimulus in China — not to mention the very close race between the US presidential candidates.
While the gold price fell following Trump's win in early November and largely held under US$2,700 through the end of the year, it began trending upwards in 2025 to the new all-time high discussed earlier in the article.
What's next for the gold price?
What's next for the gold price is never an easy call to make. There are many factors to consider, but some of the most prevalent long-term drivers include economic expansion, market risk, opportunity cost and momentum.
Economic expansion is one of the primary gold price contributors as it facilitates demand growth in several categories, including jewelry, technology and investment. As the World Gold Council explains, “This is particularly true in developing economies where gold is often used as a luxury item and a means to preserve wealth.”
Market risk is also a prime catalyst for gold values as investors view the precious metal as the “ultimate safe haven,” and a hedge against currency depreciation, inflation and other systemic risks.
Going forward, in addition to the Fed, inflation and geopolitical events, experts will be looking for cues from factors like supply and demand. In terms of supply, the world’s five top gold producers are China, Australia, Russia, Canada and the US. The consensus in the gold market is that major miners have not spent enough on gold exploration in recent years. Gold mine production has fallen from around 3,200 to 3,300 metric tons (MT) each year between 2018 and 2020 to around 3,000 to 3,100 MT each year between 2021 and 2023.
On the demand side, China and India are the biggest buyers of physical gold, and are in a perpetual fight for the title of world’s largest gold consumer. That said, it's worth noting that the last few years have brought a big rebound in central bank gold buying, which dropped to a record low in 2020, but reached a 55 year high of 1,136 MT in 2022.
World Gold Council data shows 2024 central bank gold purchases came to 1,044.6 MT, marking the third year in a row above 1,000 MT. In H1 2025, the organization says gold purchases from central banks reached 415.1 MT.
“I expect the Fed’s rate-cutting cycle to be good for gold, but central bank buying has been and remains a major factor," Lobo Tiggre, CEO of IndependentSpeculator.com, told the Investing News Network (INN) at the start of Q4 2024.
David Barrett, CEO of the UK division of global brokerage firm EBC Financial Group, is also keeping an eye on central bank purchases of gold. “I still see the global central bank buying as the main driver — as it has been over the last 15 years,” he said in an email to INN. "This demand removes supply from the market. They are the ultimate buy-and-hold participants and they have been buying massive amounts."
In addition to central bank moves, analysts are also watching for escalating tensions in the Middle East, a weakening US dollar, declining bond yields, and further interest rate cuts as factors that could push gold higher as investors look to secure their portfolios. “When it comes to outside factors that affect the market, it’s just tailwind after tailwind after tailwind. So I don’t really see the trend changing,” Coffin said.
Randy Smallwood of Wheaton Precious Metals (TSX:WPM,NYSE:WPM) told INN in March 2025 that gold is seeing support from many factors, including central bank buying, nervousness around the US dollar and stronger institutional interest. Smallwood is seeing an influx of fund managers wanting to learn about precious metals.
Joe Cavatoni, senior market strategist, Americas, at the World Gold Council, believes that market risk and uncertainty surrounding tariffs and continued demand from central banks are the main drivers of gold.
"Market risk in particular is a key strategic driver for the gold price and performance," Cavatoni told INN in a July 2025 interview. "Think strategically when you think about gold, and keep that allocation in mind."
Check out more of INN's interviews to find out what experts have said about the gold price during its 2025 bull run and where it could go next.
Should you beware of gold price manipulation?
It’s important for investors to be aware that gold price manipulation is a hot topic in the industry.
In 2011, when gold hit what was then a record high, it dropped swiftly in just a few short years. This decline after three years of impressive gains led many in the gold sector to cry foul and point to manipulation.
Early in 2015, 10 banks were hit in a US probe on precious metals manipulation.
Evidence provided by Deutsche Bank (NYSE:DB) showed “smoking gun” proof that UBS Group (NYSE:UBS), HSBC Holdings (NYSE:HSBC), the Bank of Nova Scotia (TSX:BNS,NYSE:BNS and other firms were involved in rigging gold and silver rates in the market from 2007 to 2013. Not long after, the long-running London gold fix was replaced by the LBMA gold price in a bid to increase gold price transparency. The twice-a-day process, operated by the ICE Benchmark Administration, still involves a variety of banks collaborating to set the gold price, but the system is now electronic.
Still, manipulation has by no means been eradicated, as a 2020 fine on JPMorgan Chase & Co. (NYSE:JPM) shows. The next year, chat logs were released in a spoofing trial for two former precious metals traders from the Bank of America's (NYSE:BAC) Merrill Lynch unit. They show a trader bragging about how easy it is to manipulate the gold price.
Gold market participants have consistently spoken out about manipulation. In mid-2020, Chris Marcus, founder of Arcadia Economics and author of the book “The Big Silver Short,” said that when gold fell back below the US$2,000 mark after hitting close to US$2,070, he saw similarities to what happened with the gold price in 2011.
Marcus has been following the gold and silver markets with a focus specifically on price manipulation for nearly a decade. His advice? “Trust your gut. I believe we’re witnessing the ultimate ’emperor’s really naked’ moment. This isn’t complex financial analysis. Sometimes I think of it as the greatest hypnotic thought experiment in history.”
Investor takeaway
While we have the answer to what the highest gold price ever is as of now, it remains to be seen how high gold can climb, and if the precious metal can reach as high as US$5,000, US$10,000 or even US$40,000.
Even so, many market participants believe gold is a must have in any investment profile, and there is little doubt investors will continue to see gold price action making headlines this year and beyond.
This is an updated version of an article first published by the Investing News Network in 2020.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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23h
Lahontan Drills Thick, Shallow Gold at York: 90m grading 0.23 g/t Au Plus a Second High Grade Zone: 18m grading 0.73 g/t Au, All Oxide
Lahontan Gold Corp. (TSXV:LG)(OTCQB:LGCXF)(FSE:Y2F) (the "Company" or "Lahontan") is pleased to announce the results from our 2025 Phase One drilling program at the Company's flagship Santa Fe Mine Project located in Nevada's prolific Walker Lane. Lahontan completed seven reverse-circulation rotary ("RC") drill holes totaling 1,210 metres (please see table below). Significant results include:
- York: 89.9 metres (45.7 - 135.6m) grading 0.23 g/t Au (YOR25-001R): A very shallow, thick, intercept of oxide gold mineralization that greatly expands the footprint of the York gold zone and confirms the potential to expand the York gold resource along strike and down-dip, leveraging the upside value of the recently announced York claim acquisition (please see cross section below).
- York: A second higher grade zone at York: 18.3 metres (141.7 - 160.0m) grading 0.73 g/t Au including 12.2m grading 1.00 g/t Au (YOR25-002R). This drill hole bottomed in oxidized gold mineralized rock and is open up and down-dip, and along strike, defining a second gold trend at York.
- Slab: 39.6 metres (67.1 - 106.7m) grading 0.30 g/t Au immediately below the south end of the Slab open pit (CAL25-004R). This drill hole defines a second, strataform, oxide gold horizon that mimics the geometry of the Slab mineral resource defined by prior drilling* and confirms a new target for gold resource expansion.

Cross section through drill hole YOR25-001R. The thick oxide gold intercept correlates with adjacent drill holes demonstrating excellent continuity to gold mineralization and the potential to greatly expand the conceptual pit shell used to constrain the gold mineral resource estimate at York. Note that the true thickness of the gold intercept is approximately equal to the drilled interval.
The 2025 Phase One RC drilling program was intended to confirm multiple target concepts in the York and Slab gold resource areas at the Santa Fe Mine Project. Based on the very positive results described in more detail below, the Company is in the process of planning additional drilling at both York and Slab for later this year.
York Drilling: Both RC drill holes completed at York successfully defined new extensions to known oxide gold mineral resources*. As shown above, YOR25-001R confirmed the down-dip continuity of shallow oxide gold mineralization east of the York open pit along the Columbia Fault. Gold mineralization in the drill hole shows excellent correlation with previous drilling, in both thickness and gold grade. As noted above, oxide gold mineralization is open to the north where the gold zone appears to become shallower, and to the south, where mineralization is unconstrained by drilling. Importantly, the newly acquired York claims (please see Lahontan press release dated August 19, 2025) provide ample room for further oxide gold resource expansion, without the constraint of a claim boundary.
YOR25-002R is particularly interesting as it validates the geologic model for the York Fault, an important north-south striking fault that is a key control for gold mineralization in the York area (please see map and section below). YOR25-002R bottomed in good grade oxide gold mineralization (1.0 g/t Au) that may be corelate to the gold zone defined in YOR25-001R, and is likely the upper portion of a much thicker gold zone: another target for resource expansion drilling in the Fall (please see section below). The York Fault gold system remains open up-dip, down-dip, and along strike.
These two drill holes at York underscore the potential to greatly expand the York gold resource and demonstrate the considerable upside of the York area at Santa Fe, amplified by the recently acquired new claims at York.

York area drill hole location map. Line(s) of the York cross sections are shown in red, the western boundary of the newly acquired York claims is shown by the dashed line. North is up.

Cross section through drill hole YOR25-002R (see location map for line of section). Combined with the results from YOR25-001R, the drilling confirms the potential to expand the York conceptual pit shell as shown in red. YOR25-002R bottomed in oxide gold mineralization grading 1.0 g/t Au Eq. This intercept may correlate with the thick zone defined by YOR25-002R and therefore defines an excellent target for future resource expansion drilling (black dashed line).
Slab Drilling: Lahontan completed five RC drill holes in the Slab gold resource area (see map below). All the drill holes cut oxide gold mineralization (please table below), however the results for drill holes CAL25-003R and -004R are very encouraging, defining a new, stacked zone of oxide gold mineralization below the resource defined by previous drilling and the Slab open pit*.

Drill hole location map, Slab open pit and resource area. The line of the cross section is in red. North is up.
CAL25-004R cut 39.6 metres grading 0.30 g/t Au and 1.2 g/t Ag (0.31 g/t Au Eq, see table below), all oxide, and directly below gold mineralization seen in the Slab open pit and defined by historic drilling (see section below), providing an excellent opportunity to expand the conceptual pit shell at Slab. Additional drilling along strike and northwest of CAL25-004R (left in section) can add to potential gold resources at Slab and improve future project economics.

Northwest - southeast cross section through the south end of the Slab open pit. A potential conceptual pit shell is shown in red.
The other drill holes at Slab, CAL25-001R through -003R all hit zones of gold mineralization and will require additional drilling to refine drill targets for future resource expansion.
Kimberly Ann, Lahontan Gold Corp CEO, Executive Chair, and Founder commented: "Lahontan is excited with the results from Phase One drilling at Santa Fe. In particular, the results from the York area, thick, shallow intercepts of oxide gold mineralization, highlight the tremendous upside potential of York, amplified by the recent expansion of our land package at York. We are in the process of designing a Phase Two drilling program for York and Slab, to take place in the Fall".

Notes: Au Eq equals Au (g/t) + ((Ag g/t/83)*0.60). Silver grade for calculating Au Eq is adjusted to consider historic metallurgical recovery as described in the Santa Fe Project Technical Report*. True thickness of the intercepts is estimated to be 80-100% of the drilled interval. Numbers may not total precisely due to rounding.
QA/QC Protocols:
Lahontan conducts an industry standard QA/QC program for its core and RC drilling programs. The QA/QC program consisted of the insertion of coarse blanks and Certified Reference Materials (CRM) into the sample stream at random intervals. The targeted rate of insertion was one QA/QC sample for every 16 to 20 samples. Coarse blanks were inserted at a rate of one coarse blank for every 65 samples or approximately 1.5% of the total samples. CRM's were inserted at a rate of one CRM for every 20 samples or approximately 5% of the total samples.
The standards utilized include three gold CRM's and one blank CRM that were purchased from MEG, LLC of Lamoille, Nevada (formerly Shea Clark Smith Laboratories of Reno, Nevada). Expected gold values are 0.188 g/t, 1.107 g/t, 10.188 g/t, and -0.005 g/t, respectively. CRM's with similar grades are inserted as the initial CRM's run out. The coarse blank material comprised of commercially available landscape gravel with an expected gold value of -0.005 g/t.
As part of the RC drilling QA/QC process, duplicate samples were collected of every 20th sample interval at the drill rig to evaluate sampling methodology. Samples were collected from the reject splitter on the drill rig cyclone splitter. Samples were collected at each 95- to 100-foot (28.96 - 30.48m) mark and labeled with a "D" suffix on the sample bag. No duplicates were submitted for core.
All drill samples were sent to American Assay Laboratories (AAL) in Sparks, Nevada, USA for analyses. Delivery to the lab was either by a Lahontan Gold employee or by an AAL driver. Analyses for all RC and core samples consisted of Au analysis using 30-gram fire assay with ICP finish, along with a 36-element geochemistry analysis performed on each sample utilizing two acid digestion ICP-AES method. Tellurium or 50-element analyses were performed on select drill holes utilizing ICP-MS method. Cyanide leach analyses, using a tumble time of 2 hours and analyzed with ICP-AES method, were performed on select drill holes for Au and Ag recovery. AAL inserts their own blanks, standards and conducts duplicate analyses to ensure proper sample preparation and equipment calibration. We have all results reported in grams per tonne (g/t).
About Lahontan Gold Corp.
Lahontan Gold Corp. is a Canadian mine development and mineral exploration company that holds, through its US subsidiaries, four top-tier gold and silver exploration properties in the Walker Lane of mining friendly Nevada. Lahontan's flagship property, the 26.4 km2 Santa Fe Mine project, had past production of 359,202 ounces of gold and 702,067 ounces of silver between 1988 and 1995 from open pit mines utilizing heap-leach processing. The Santa Fe Mine has a Canadian National Instrument 43-101 compliant Indicated Mineral Resource of 1,539,000 oz Au Eq(48,393,000 tonnes grading 0.92 g/t Au and 7.18 g/t Ag, together grading 0.99 g/t Au Eq) and an Inferred Mineral Resource of 411,000 oz Au Eq (16,760,000 grading 0.74 g/t Au and 3.25 g/t Ag, together grading 0.76 g/t Au Eq), all pit constrained (Au Eq is inclusive of recovery, please see Santa Fe Project Technical Report and note below*). The Company plans to continue advancing the Santa Fe Mine project towards production, update the Santa Fe Preliminary Economic Assessment, and drill test its satellite West Santa Fe project during 2025. The technical content of this news release and the Company's technical disclosure has been reviewed and approved by Michael Lindholm, CPG, Independent Consulting Geologist to Lahontan Gold Corp., who is a Qualified Person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Lindholm was not an author for the Technical Report* and does not take responsibility for the resource calculation but can confirm that the grade and ounces in this press release are the same as those given in the Technical Report. Mr. Lindholm also could not directly verify the QA/QC procedures described above, but the protocols are similar to those described in the Technical Report*. For more information, please visit our website: www.lahontangoldcorp.com
* Please see the "Preliminary Economic Assessment, NI 43-101 Technical Report, Santa Fe Project", Authors: Kenji Umeno, P. Eng., Thomas Dyer, PE, Kyle Murphy, PE, Trevor Rabb, P. Geo, Darcy Baker, PhD, P. Geo., and John M. Young, SME-RM; Effective Date: December 10, 2024, Report Date: January 24, 2025. The Technical Report is available on the Company's website and SEDAR+. Mineral resources are reported using a cut-off grade of 0.15 g/t AuEq for oxide resources and 0.60 g/t AuEq for non-oxide resources. AuEq for the purpose of cut-off grade and reporting the Mineral Resources is based on the following assumptions gold price of US$1,950/oz gold, silver price of US$23.50/oz silver, and oxide gold recoveries ranging from 28% to 79%, oxide silver recoveries ranging from 8% to 30%, and non-oxide gold and silver recoveries of 71%.
On behalf of the Board of Directors
Kimberly Ann
Founder, CEO, President, and Executive Chair
FOR FURTHER INFORMATION, PLEASE CONTACT:
Lahontan Gold Corp.
Kimberly Ann
Founder, Chief Executive Officer, President, and Executive Chair
Phone: 1-530-414-4400
Email: Kimberly.ann@lahontangoldcorp.com
Website: www.lahontangoldcorp.com
Cautionary Note Regarding Forward-Looking Statements:
Neither TSX Venture Exchange("TSXV") nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Except for statements of historical fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the TSXV. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedarplus.com
Click here to connect with Lahontan Gold (TSXV:LG,OTCQB:LGCXF) to receive an Investor Presentation
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02 September
Prince Silver Announces Non-brokered Private Placement
Prince Silver Corp. ("Prince" or the "Company") (CSE:PRNC)(OTC PINK:HWTNF) is pleased to announce a non-brokered private placement of up to 3,125,000 units of the Company ("Units") at a price of $0.40 per Unit for aggregate gross proceeds of up to $1,250,000 (the "Private Placement'). Each Unit will consist of one common share (a "Common Share") and one-half common share purchase warrant, with each full warrant (a "Warrant") being exercisable to purchase one Common Share at a price of $0.60 for 12 (twelve) months from the date of issuance.
The Company intends to pay finders' fees in an amount equal to 7% to eligible finders, in accordance with applicable securities laws and the policies of the Canadian Stock Exchange ("CSE"). The Private Placement is subject to approval of the CSE, and all securities issued under the Private Placement will be subject to statutory hold periods expiring four months and one day from the date of closing of the Private Placement pursuant to applicable securities laws and CSE policy.
The Company intends to use the net proceeds raised from the Private Placement for exploration and development on it's 100% owned Prince Silver Project as well as for general corporate working capital.
About Prince Silver Corp.
Prince Silver Corp is a silver exploration company focused on advancing the Prince Silver Project in Nevada, USA. The known deposit identified with historic drilling is open in all directions and is near surface. Prince Silver Corp also holds interest in the Stampede Gap Project a district scale copper-gold-moly porphyry system located ~15km NNM of the Prince Silver Project and, holds option interest in the Broken Handle Project, an early-stage mineral exploration project located southern British Columbia, Canada.
For further information on Prince Silver, please visit www.princesilvercorp.com
On behalf of the Board of Directors
Ralph Shearing
Director, President
+1 (604) 764-0965
rshearing@princesilvercorp.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION
Forward-Looking Information Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Some of the specific forward-looking information in this news release includes, but is not limited to, statements with respect to: completion of the Acquisition and related transactions, proposed drill programs, amendments to the Company's website, property option payments and regulatory and corporate approvals. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to, business, economic and capital market conditions, the ability to manage operating expenses, dependence on key personnel, completion of satisfactory due diligence in respect of the Acquisition and related transactions, and compliance with property option agreements. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward looking statements include, the continued availability of capital and financing, litigation, failure of counterparties to perform their contractual obligations, failure to obtain regulatory or corporate approvals, exploration results, loss of key employees and consultants, and general economic, market or business conditions. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information. The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons (as defined under the U.S. Securities Act) unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. The CSE has neither approved nor disapproved the contents of this press release and the CSE does not accept responsibility for the adequacy or accuracy of this release.
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31 August
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