FN Media Group News Commentary - Gold prices are forecast to climb to record highs in the coming year. The price of gold has soared to new heights this year and is positioned to climb into early 2025, rising to new record highs, according to Goldman Sachs Research. The precious metal has increased more than 20% this year, peaking at a record of more than $2,500 per troy ounce. Goldman Sachs Research forecasts the price will reach $2,700 by early next year, buoyed by interest rate cuts by the Federal Reserve and gold purchases by emerging market central banks. The metal could get an additional boost if the US imposes new financial sanctions or if concerns mount about the US debt burden. They see that Gold prices are forecast to climb to record high. Goldman Sachs says that: "Gold is our strategists' preferred near-term long (the commodity they most expect to go up in the short term), and it's also their preferred hedge against geopolitical and financial risks. In this softer cyclical environment, gold stands out as the commodity where we have the highest confidence in near-term upside," Goldman Sachs Research strategists Samantha Dart and Lina Thomas write. Active Mining Companies in the markets today include Asia Broadband Inc. (OTCPK: AABB), Equinox Gold Corp. (NYSE American: EQX), Kinross Gold Corporation (NYSE: KGC), Barrick Gold Corporation (NYSE: GOLD), IAMGOLD Corporation (NYSE: IAG).
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Manna Drilling Delivers Positive Assays
First RC Assays Increases Confidence and Prospectivity at Depth as Diamond Drilling Commences at Manna
The Manna Lithium Project hosts a maiden Inferred Mineral Resource of 9.9Mt @ 1.14% Li2O (100% basis)1. After acquiring an 80% interest in Manna from Breaker Resources (ASX: BRB) in December 2021, GL1 engaged Snowden Optiro to undertake a Mineral Resource estimate using data compiled by Breaker Resources, including RC and DD results.
Highlights
- Significant intervals of lithium mineralisation intersected from early reverse circulation (RC) drilling at the Manna Lithium Project (Manna)
- The program validates previous drilling and resource information, further extending the orebody at depth which remains open (refer Figure 2.).
- Drilling intercepts across the same Pegmatite shows continuity with depth:
- MRC0028 returned 12m @ 0.75% Li2O from 41m
- inc. 4m @ 1.41% Li2O from 41m
- MRC0029 returned 11m @ 0.83% Li2O from 123m
- inc. 4m @ 1.29% Li2O from 126m
- and 1m @ 1.12% Li2O from 133m
- MRC0035 returned 15m @ 0.91% Li2O from 221m
- inc. 3m @ 1.39% Li2O from 221m
- and 2m @ 1.16% Li2O from 229m
- and 1m @ 1.02% Li2O from 234m
- Additional pegmatite intercepts showing continuity with depth:
- MRC0034 returned 13m @ 0.84% Li2O from 46m
- MRC0035 returned 6m @ 1.09% Li2O from 172m
- Manna East Pegmatite showing increasing width with depth:
- MRC0032 9m @ 1.29% Li2O from 110m
- Ongoing drilling will further target lithium mineralised pegmatites both along strike and at depth
- Experienced drilling contractor, Mt Magnet Drilling (Mt Magnet), commences diamond drilling (DD) program at Manna
- Initial 4,000m program will be GL1’s first DD campaign at Manna since acquisition of project in December 2021
- The diamond core drilling is specifically targeting the Pegmatites at depths below the RC drilling program currently underway
- MRC0028 returned 12m @ 0.75% Li2O from 41m
Growing multi-asset West Australian lithium company Global Lithium Resources Limited (ASX: GL1, “Global Lithium” or “the Company”) is pleased to announce the first lithium assay results from its initial RC drilling program at the Manna Lithium Project, located 100km east of Kalgoorlie.
Whilst they are early-stage results from this program, the assays provide GL1 with significant confidence in the Manna Lithium Project and confirm the findings from previous drilling undertaken by Breaker in 2018.
The assay results highlighted above are the first to be reported from the Company’s maiden 20,000m RC program at Manna, which commenced in May and is being undertaken by experienced contractor Profile Drilling Services.
Figure 1 – Showing the resource expansion drilling plan.
Figure 2 – Cross Section A-B showing the interpreted pegmatites projected against assay results along the drill trace line.
Diamond Drilling Commences at MannaIn addition, the Company is pleased to report that diamond drilling (DD) has commenced at the Manna Lithium Project on schedule. Earlier this year, experienced contractor Mt Magnet Drilling was appointed to undertake the DD program which will initially comprise 4,000m of drilling. Mt Magnet is a Western Australian-based drilling services company which specialises in DD mineral exploration drilling.
The DD program has been designed to test and expand the deposit at depth below the RC program. GL1 will progress the DD program in parallel with ongoing RC drilling program and intends to update shareholders with further results in Q3, 2022. A geotechnical logging program of the core will run in parallel with the metallurgical test program to enable the potential commencement of feasibility study work on the deposit.
The Company anticipates a Mineral Resource update at the Manna Lithium Project to follow the completion of the RC and DD programs along with additional metallurgical test work in Q4 2022.
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This article includes content from Breaker Resources NL (ASX: BRB), 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.
World Class Copper Potential Increased at Yataga Copper Project – Georgetown, QLD
EMU NL (“EMU” or “the Company”) is pleased to provide an update on recent exploration work at the Company’s newly named Yataga Copper Project1, located within the Yataga Igneous Complex near Georgetown in North Queensland.
- Recent surface Geochemical surveys have updated EMU’s Ecological modelling and identified multiple intra-pluton porphyry copper centres close to surface within the Yataga Copper Project at Georgetown in Far North Queensland.
- EMU’s consultants have advised that these porphyry centres are concentrated along a “structural belt” and modelled to be near surface and their advice is that the unusual character of these intra-pluton copper centres nay be analogous to the Highland Valley Copper Mine, where a series of porphyry copper deposits host Canada’s largest open pit copper nine which produced more than 130kt in 2021.
- Dr Gregg Morrison, Queensland-based Geological Consultant with 45 years’ experience, has accepted an invitation to be appointed Technical Advisor to the Project. His authority and significant knowledge of the metallogenic systems of northern Queensland adds substantial value to the developing discovery.
- EMU’s recent work has identified a combined area of 8km2 of copper-in-soil anomalism with significant potential for expansion.
- Additional work includes;
- a 220-line km airborne electromagnetics survey (results pending).
- A 20-line km ground-based Pole-Dipole Induced Polarisation (PDIP) and Magnetotelluric (MT) survey currently underway.
- These geochemistry and geophysics survey results will provide an optimized low risk drilling programs to be carried out in the near future.
EMU Non-Executive Chairman Peter Thomas commented:
“Whilst it is still early days, results from EMU’s field work continue to provide encouragement that this project has the potential to be a Global Tier 1 scale copper discovery.
EMU has undertaken a meticulous, methodical and measured exploration programme guided by the best available expertise. EMU has carried out important Geophysical and Geochemical survey work that is assisting Ecological assessment of what appears to be high grade surface mineralisation indicating the presence of multiple Cu-bearing intrusive centres close to surface. EMU is determined to do a professional job driven by fundamentals and first principles.
Accordingly, EMU remains focused on establishing sound compelling drill vectors that give the project its best chances of success
Prudent and diligent field and desktop work being pursued is a comparatively low-cost avenue to optimise drilling efforts.
We are absolutely delighted and honoured to have secured the services of Dr Gregg Morrison, an expert in the style of mineralisation we are encountering at the Yataga Copper Project. Dr Morrison has already added value with his input to recent exploration and modelling. His technical knowledge on ore controls and hydrothermal system Geometry will be invaluable in defining and building confidence in drill targets as we seek to unlock the potential large-scale economics of the project.
Our recent 27km2 Geochemistry field survey, has demonstrated vast copper-in-soil anomalism over an area of 8km2 in aggregate reflecting very large potential. Our exploration team believes that the abundant and pervasive surficial expression of copper cannot be explained other than that there simply MUST be a near surface local concentrated source. Our goal is to find that source.
The team is working with preliminary pXRF Geochemistry to delineate the likely mineralisation fluid- flow geometry leading to defining priority structural/geological drill targets. Meanwhile, we continue to take samples for Geochemical analysis and to gather Geophysical data directed at providing compelling vectors for drilling at Yataga and, additionally, to assess bonanza grade gold occurrences across the broader 850km2 project.
EMU will prepare an appropriate drilling program the project once its team is comfortable that a higher level of confidence in targets can be achieved.”
Exploration Activity
EMU’s discovery team has made significant progress with the latest Geochemistry field work. The termite mound sampling methodology has proven to be highly reliable and productive.
The 27km2, grid controlled pXRF (Portable X-Ray Fluorescence analyser) programme sampled 1152 termite mounds. The combined area of highly anomalous copper has been substantially extended with copper mineralisation surface expression now covering a vast area – approximately 8km2 including the original discovery prospect – Fiery Creek. (See Figure 1). The potential to extend the area of copper mineralisation even further is possible and will follow from in field geochemistry and geophysics surveys currently in progress.
The areas of copper-in-soil anomalies delineated in this first-pass programme are defined as pXRF values ranging between 150 – 76͘ ppm Cu, equivalent to 5 – 25 times the average crustal abundance (or background values) for copper in Granodiorites.
Figure 1: The termite mound Geochemical sampling programme grid with Copper (Cu) heat map overlying geology. The main Cu-zones of Fiery Creek Prospect and Yataga Valley Prospect are clearly defined. (See also Figure 4.)
Modelling of the surface mineralisation indicates the presence of multiple Cu-bearing intrusive centres close to surface. Planned geophysical surveys to be conducted during September and October are targeted to “nap” the 3-dinensional aspects of the mineralised pluton and provide information on mineral pathways and mineralisation signatures. The surveys will provide a depth component to the surface field data collected to date, enhancing the definition of the erosional level of the mineralised system and the depth extent of the pluton roof and the location of the stocks and dykes that are the source of mineralisation.
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This article includes content from EMU NL, 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.
Outstanding Drill Results Confirm High Grade Uranium Mineralisation at the Ashburton Project
Piche Resources Limited (ASX: PR2) (“Piche” or the “Company”), is pleased to announce the first outstanding intersections received from its reverse circulation drilling programme on its Ashburton project in Western Australia. The results confirm the mineralisation and its downdip continuation at the Angelo A prospect.
HIGHLIGHTS
- Assay results from the first six reverse circulation (RC) drill holes completed at the Angelo A prospect within Piche’s Ashburton project have all returned significant high grade uranium mineralisation.
- Equivalent U3O8 concentrations have been calculated from downhole gamma surveys and results include:
- ARC001 6.98m @ 1,617 ppm eU3O8 from 101.84 metres
- ARC002 4.36m @ 2,205 ppm eU3O8 from 109.89 metres
- ARC003 3.96m @ 1,516 ppm eU3O8 from 86.89 metres
- ARC004 6.02m @ 801 ppm eU3O8 from 83.55 metres
- ARC006 3.45m @ 5,129 ppm eU3O8 from 137.62 metres incl 0.34m @ 16,050 ppm eU3O8 from 139.11 metres
- ARC007 1.30m @ 503ppm eU3O8 from 123.37 metres.
- The ongoing drilling programme is designed to confirm previous high grade uranium results at the Angelo A & B prospects, test a revised model for the controls on mineralisation and identify extensions to the existing mineralisation.
- The drilling is targeting Proterozoic unconformity style uranium mineralisation, like the Pine Creek Geosyncline in Australia and the Athabasca Basin in Canada.
- Further RC results will be released as the drilling programme continues and a diamond drill rig will be mobilised to site in the coming week.
The continuing drilling programme is being undertaken at, and along strike of, the Angelo A prospect. No exploration activities have been carried out at Angelo A over the last 40 years.
Table 1: Angelo A Reverse Circulation drill hole intersections (cut-off grade of 250ppm eU3O8)(All thicknesses are downhole thicknesses as there is currently insufficient information to accurately calculated true widths)
Table 2: Drill hole details of holes referenced above(Table 2 documents the drill hole location details. Coordinates are reported in GDA94)
*ARCD005 is a pre-collar to a planned diamond drillhole which will be completed on arrival of the diamond drill rig
The drill rig will move to Angelo B prospect, approximately 1.3km to the northeast, following the completion of the Angelo A drilling.
This programme will be followed by a diamond drilling programme scheduled for later this month. These drilling programmes are planned to confirm the results from previous exploration by drilling several twin holes, to test a revised model for the control of the uranium mineralisation and explore for extensions to the mineralisation identified between 1973 and 1984.
The project area is located approximately 140km to the west-southwest of Newman in the Pilbara region of Western Australia (Figure 1). Piche holds three tenements totalling about 122km2 in its Ashburton Project (Figure 2).
Piche’s Managing Director, Stephen Mann, commented:
“The Company is very excited following the receipt of results from the first six holes of Piche’s initial drilling programme on its Ashburton Project. Not only have we confirmed the historical results with several twin holes, but we have shown that the mineralization continues downdip. Drilling to date has confirmed that mineralisation occurs within the typical unconformity model, with highly altered uranium rich sandstones at the unconformity, and the potential of mineralized “feeder” zones extending steeply below that unconformity zone. It is expected that further drilling in this campaign should result in more clarity of the distribution and controls of mineralization”.
Previous explorers at the Ashburton Project area focused their efforts on the unconformity between the mid Proterozoic sandstones and the early Proterozoic basement complexes.
The Ashburton Project area hosts unconformity-related uranium mineralisation. Unconformity uranium style deposits constitute approximately 20% of Australia’s total uranium resources and about one-third of the western world’s uranium resources and include some of the largest and richest uranium deposits2. Minerals are uraninite and pitchblende. The main deposits occur in Canada (the Athabasca Basin, Saskatchewan and Thelon Basin, Northwest Territories); and Australia (the Alligator Rivers region in the Pine Creek Geosyncline, NT and Rudall Rivers area, WA1). In both Canada and Australia mineralisation is often found at the unconformity and in the basement complex well below the unconformity.
Uranium mineralisation at the Ashburton Project area occurs along the Lower Proterozoic Wyloo Group/Mid Proterozoic Bresnahan Group contact. Uranium mineralisation has previously been identified from broad spaced drilling at Angelo A and B prospects (Figure 3). Mineralisation intersected in this first phase of drilling by Piche has identified significant uranium at, or near the unconformity, but also in units immediately above the unconformity and well into the underlying basement units. Mineralisation is commonly associated with hematitic alteration of felspathic medium to coarse grained sandstones and is spatially associated with carbonaceous and graphitic shales. Visible uraninite has been recognised in several intersections.
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This article includes content from Piche Resources, 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.
Athena Gold Samples up to 50.6 g/t Gold From Buster Mine at Excelsior Springs Project, Esmeralda County, Nevada
Athena Gold Corporation (CSE:ATHA)(OTCQB:AHNR) ("Athena" or the "Company") is pleased to report high-grade gold and silver samples from its first-ever underground mapping and sampling program at its flagship Excelsior Springs project in Nevada's prolific Walker Lane Trend. Five samples were collected underground from the past-producing Buster Mine, which historically produced an estimated 19,200 oz Au at an average grade of 41.1 g/t Au. Two of these samples returned high-grade Au, including:
- 50.6 g/t Au and 33.7 g/t Ag over 0.3 m, from the 75' level; and,
- 28.1 g/t Au and 29.6 g/t Ag over 1.0 m, from the 125' level.
The reconnaissance program conducted in August 2024 represents Athena's first-time underground at the Buster Mine, providing an opportunity for the team to have a close-up look at the mineralized orebody and gain a better understanding of structural controls at Excelsior. Historical sampling included four samples which exceeded the upper detection limit of 10 g/t Au; however, these were never analyzed to completion. The geologist who collected the surface and underground samples at the Buster Mine in 1986 estimated a mineralized zone containing a historical mineral inventory of up to 200,000 oz Au within a shallow depth of 61 m. This estimate is historical in nature and should not be relied upon as a current mineral resource. A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves.
"We are pleased to see sampling results confirm the high-grade nature of the epithermal veins at the historic Buster Mine. In addition, we now have a much better understanding of structural controls on mineralization at Excelsior, which should bode well for planning our upcoming drill program" stated John Power, President & CEO of Athena Gold. "Due to small stoping dimensions and uncertain ground conditions, we were unable to sample over broader zones - however, we have reason to believe that high-grade, vein-hosted mineralization ‘bleeds' into the host rock as evidenced by previous drilling at Excelsior. The Buster Mine area is located 400 meters from the Western Slope Zone where our recent RC drill campaigns returned several impressive intercepts including up to 5.2 g/t Au over 33 m. Importantly, the geochemistry at Buster and the Western Slope Zone appear very similar, providing evidence that both mineralized zones may be part of the same system, and opens up the possibility of a larger, mineralized system connecting these two zones."
Two distinct structural orientations were observed and believed to be controlling mineralization, both east-west striking. The first is very steeply north dipping and yielded 50.6 g/t Au over 0.3 m (Figure 1). This sample was collected near the eastern stope on the 75' level, where historical sampling returned 5.8 g/t Au over 1.07 m. Historically, the higher-grade samples which exceeded the 10 g/t Au detection limit were collected from the western stope on the 75' level. Most of the past production occurred within the western stope, which extends from near surface to the 125' level.
On the 125' level, a shallow 35° north dipping fault zone yielded 28.1 g/t Au over 1.0 m (Figure 2). The steeper structures identified on the 75' level appear to be cut by this younger, shallow structure.
This work program demonstrated the important role these shallow structures, which can be traced on surface, play in the control of mineralization at Excelsior Springs. Additional surface and underground mapping will be conducted to better understand the distribution and extent of mineralization along these structures to better target future drilling.
Figure 1: Plan map of the historic Buster Mine, 75' level.
Figure 2: Photograph of 125' Level at Buster Mine, showing sample location and identified structures, looking east.
About the Buster Mine
The Buster Mine is located on the Fortunatus patented claim owned by Athena and is an integral part of our flagship Excelsior Springs Project.
Mineralization at the Buster Mine was discovered in 1872 and has been through several periods of small-scale mining and exploration efforts. During the late 1800s and perhaps the early 1900s there was unconfirmed reported production from the Buster Mine of an estimated 19,200 oz Au at an average grade of 41.1 g/t Au.
The Buster Shaft is 235' deep, with workings on the 75', 125', and 175' levels. It is estimated there is approximately 1,540' of accessible workings, most of which are on the 75' and 125' levels.
Technical Information
The data disclosed in this news release includes historical exploration sampling results. The reader is cautioned that the historical results are based on prior data and reports prepared by previous property owners and other sources. Athena has not independently analyzed the results of the historical exploration work to verify the results. The reader is cautioned not to treat them, or any part of them, as current and that a qualified person has not done sufficient work to verify the results and that they may not form a reliable guide to future results. No independent QA/QC protocols are known for these samples and as such analytical results may be unreliable. Athena's current and future exploration work includes verification of the historical data through further exploration.
QA/QC
Sample preparation and gold analysis was performed by ALS Global in Reno, Nevada. Rock samples were analyzed for gold and 50 other elements by inductively coupled plasma followed by mass spectrometry (ME-MS41) and gold by 30-gram fire assay followed by atomic absorption (Au-AA23). Gold over limits were determined by a gravimetric method (Au-GRA21).
Qualified Person
Technical information in this news release has been reviewed and approved by Matthew R. Dumala, P.Eng., a geological engineer with Archer, Cathro & Associates (1981) Limited and a qualified person for the purposes of National Instrument 43-101.
About Our Flagship Excelsior Springs Project
The Excelsior Springs Project (the "Project") lies within the prolific Walker Lane tectonic trend, a large region of northwest-trending, strike-slip fault zones that host a significant number of precious metal deposits having very strong structural control for mineralization. The Walker Lane trend is experiencing a major resurgence of intense and successful exploration and development.
The Project contains numerous prospect pits, trenches, roads, surface sampling sites and 113 drill holes to date within a 300m X 3,000m wide (1,000 foot-wide and 10,000-foot-long east-west trending zone of shearing and alteration. Underground workings on the two patented claims within the Project had unverified, historical production of 19,200 oz at 41.1 g/t Au.
Gold mineralization discovered at the Project to date occurs in quartz veins, stock-works, and silicified zones in hornfels and calc-silicate altered country rock and is generally close to porphyry dykes. The best grades and thicknesses discovered recently were found in oxidized and altered sedimentary rock immediately above porphyry dykes intruded along preexisting east- and east-northeast trending faults. The mineralized stock-work vein zones are shallow and have a relatively flat plunge, making them potentially amenable to open pit mining methods.
Based on the results of previous drilling programs, the Project has the potential to host one or more shallow gold deposits amenable to open pit mining, along with deeper, higher grade feeder zones that may be found and could be mined by underground methods. In the opinion of management and its consultants, the Project is very promising and further exploration has the potential to expand the known mineralization and establish additional mineralized zones.
About Athena Gold Corporation
Athena is engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to locate and develop economic precious and base metal properties of merit and to conduct additional exploration drilling and studies on the Project.
For further information about Athena Gold Corporation and our Excelsior Springs Gold project, please visit www.athenagoldcorp.com.
On Behalf of the Board of Directors
John C. Power
Chief Executive Officer and President
For further information, please contact:
John C. Power
Email: johnpower@athenagoldcorp.com
Jason Libenson
President and CCO
Castlewood Capital Corporation
Phone: (647)-534-9884
Email: jason@castlewoodcapital.ca
Forward Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities laws. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding future exploration plans and the completion of a phase 2 drill program at the Project, future results from exploration, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this press release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, QAQC procedures at the Project were followed, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labor disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including of the Canadian Securities Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and other factors and risks that are discussed in the Company's periodic filings with the SEC and disclosed in the final long form prospectus of the Company dated August 31, 2021.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this press release or incorporated by reference herein, except as otherwise.
On the Heels of Inflation, Why Experts Expect Gold Prices Will Climb to Record Highs in 2025
In an additional article , Goldman Sachs added: "The yellow metal typically only guards against very high inflation and large inflation surprises caused by losses in central bank credibility and geopolitical supply shocks. Gold usually didn't perform well in response to positive demand shocks when the central bank responded swiftly by hiking rates. Gold emerged as the best commodity to serve as a potential hedge against inflation and geo-political risks. Goldman Sachs Research's base case is that gold appreciates to $2,700/troy ounce by year-end, an increase of about 16%, on solid demand from central banks in emerging markets and from Asian households. Gold could help shield against potential stock market drops if a trade war erupts, and it has upside if concerns mount about the US debt load or if the Fed is subordinated by a new administration."
Asia Broadband Inc. (OTCPK: AABB) Gold Production Continues Upward Trend For Third Quarter, As Ore Stockpile Processing Plant Advances Towards Completion - Asia Broadband Inc. ("AABB" or the "Company) is pleased to announce that the Company's operations for the 3rd quarter ending September 30, 2024, will be completed next week and production levels have already surpassed the second quarter. The Company has exceeded its production and gross profit levels achieved in both the 1st and 2nd consecutive record quarters this year. Gold production more than doubled in the 1st quarter of 2024, in comparison to the 4th quarter of 2023, due to higher grade selection, recovery efficiencies and increased daily throughput levels. Additionally, the economies of scale from higher productions levels reduced production costs and added to the bottom-line gross profit, which has continued in an upward trend over the last three quarters.
The elevated operational strategies and efficiencies of the AABB mining team continued in the 3rd quarter and has firmly established the foundation for the high production levels to follow the completion of the Company's processing plant. The new facility is currently under construction in Etzatlan, Mexico, and its capacity will be primarily dedicated to processing the estimated $1 billion dollar ore value of the Company's exclusive rights surface stockpile. AABB continues to develop the processing plant and will release updates as progress milestones are reached. The Company will release a processing plant project update in October.
"The elevation of our production processes by the mining operations team in all three quarters of this year will have a multiplier effect with increased production levels. We are eagerly awaiting to extend this expertise to our massive ore stockpile processing when the new plant is complete. This will take us to a much higher level than we have ever reached before," expressed Chris Torres, the Company President and CEO.
AABB continues to implement its mining property acquisition strategy to optimize development capital utilization by focusing operations in regions of Mexico where AABB has a comparative advantage of development resources and expertise readily available for rapid expansion and duplication of the Company's previous gold production success. CONTINUED… Read this full release for Asia Broadband at: https://www.financialnewsmedia.com/news-aabb/
Other recent developments in the mining industry include:
Barrick Gold Corporation (NYSE: GOLD) recently said it is projecting a 30% growth in the production of gold-equivalent ounces from its existing assets by the end of this decade while it continues to unlock the value embedded in its portfolio, says president and chief executive Mark Bristow.
Speaking at the Gold Forum Americas , Bristow said while Barrick was alert to potentially value-accretive opportunities generated by the consolidation of the industry, it had the rare luxury of doing so from an asset base that would support organic growth well into the future.
"Five years ago, we set out to build a sustainably profitable gold and copper business focused on world-class assets. We did not have to buy them at a premium: they were embedded in the merged portfolio of Barrick and Randgold and we just had to unlock their value," he said.
Kinross Gold Corporation (NYSE: KGC) recently provided an update on the Great Bear project (the "Project"), located in Red Lake, Ontario, Canada. Kinross has completed a Preliminary Economic Assessment( PEA) for the Great Bear project which supports the Company's acquisition thesis of a top tier high-margin operation in a stable jurisdiction with strong infrastructure. Based on mineral resources drilled to date, the PEA outlines a high-grade combined open pit and underground mine with an initial planned mine life of approximately 12 years and production cost of sales of $594 per ounce. The Project is expected to produce over 500,000 ounces per year at an all-in sustaining cost (AISC) of approximately $800 per ounce during the first 8 years through a conventional, modest capital 10,000 tonne per day (tpd) mill.
Kinross has also released an updated mineral resource estimate increasing the inferred resource estimate by 568koz. to 3.884 Moz. which is in addition to the existing M&I resource estimate of 2.738 Moz. The mineral resource estimate and PEA for the Great Bear project are available here .
Equinox Gold Corp. (NYSE American: EQX) recently announced an updated Mineral Resource Estimate ("MRE") for its 100% owned, exploration-stage Hasaga Property ("Hasaga" or the "Property") in Red Lake, Ontario.
"Hasaga is located in the Red Lake Gold District of northwestern Ontario, which is renowned for its high gold grades and prolific historical gold production. This updated Mineral Resource Estimate focuses on the high-grade nature of the gold mineralization and is a departure from the previous bulk-tonnage approach," stated Scott Heffernan, EVP Exploration of Equinox Gold. "As expected, the updated Mineral Resource Estimate contains fewer gold ounces but at significantly higher average gold grades.
"Further, the main zones of gold mineralization included in the updated Mineral Resource Estimate remain open, with numerous historical gold intersections defining drill-ready targets highlighting the potential for resource growth and new discoveries."
IAMGOLD Corporation (NYSE: IAG) recently announced that the Côté Gold Mine ("Côté Gold" or "Côté") has reached commercial production. Côté Gold is located in Ontario, Canada and is operated as a joint venture between IAMGOLD, as the operator, and Sumitomo Metal Mining Co., Ltd. ("Sumitomo"). Commercial production is defined as the achievement of reaching a minimum of 30 consecutive days of operations during which the mill operated at an average of 60% of nameplate throughput of 36,000 tpd.
"I would like to commend our teams at Côté Gold who have come together to achieve another great milestone as we progress and ramp up what we believe will be one of Canada's largest gold mines and a model for modern mining in Canada," said Renaud Adams, President and Chief Executive Officer of IAMGOLD. "Since achieving the first pour of gold on March 31, 2024, our teams have spent the last four months methodically and iteratively testing and ramping up all facets of the mine. This process has required remarkable commitment, ingenuity and teamwork to bring all the systems online together to achieve this milestone."
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AGNICO EAGLE PROVIDES NOTICE OF RELEASE OF THIRD QUARTER 2024 RESULTS AND CONFERENCE CALL
Stock Symbol: AEM (NYSE and TSX)
Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) (" Agnico Eagle " or the " Company ") today announced that it will release its third quarter 2024 results on Wednesday, October 30, 2024 after normal trading hours.
Third Quarter 2024 Results Conference Call and Webcast
Agnico Eagle's senior management will host a conference call on Thursday, October 31, 2024 , at 11:00 AM (E.D.T.) to discuss the Company's financial and operating results.
Via Webcast :
To listen to the live webcast of the conference call, you may register on the Company website at www.agnicoeagle.com , or directly via the link here .
Via Phone :
To join the conference call by phone, please dial 416.945.7677 or toll-free 1.888.699.1199 to be entered into the call by an operator. To ensure your participation, please call approximately five minutes prior to the scheduled start of the call.
To join the conference call without operator assistance, you may register your phone number here 30 minutes prior to the scheduled start of the call to receive an instant automated call back.
Replay Archive :
Please dial 289.819.1450 or toll-free 1.888.660.6345, access code 80122#. The conference call replay will expire on November 30, 2024 .
The webcast, along with presentation slides, will be archived for 180 days on the Company's website.
About Agnico Eagle
Agnico Eagle is a Canadian based and led senior gold mining company and the third largest gold producer in the world, producing precious metals from operations in Canada , Australia , Finland and Mexico . It has a pipeline of high-quality exploration and development projects in these countries as well as in the United States . Agnico Eagle is a partner of choice within the mining industry, recognized globally for its leading environmental, social and governance practices. Agnico Eagle was founded in 1957 and has consistently created value for its shareholders, declaring a cash dividend every year since 1983.
View original content: https://www.prnewswire.com/news-releases/agnico-eagle-provides-notice-of-release-of-third-quarter-2024-results-and-conference-call-302258002.html
SOURCE Agnico Eagle Mines Limited
View original content: http://www.newswire.ca/en/releases/archive/September2024/25/c6008.html
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Mulga Bill Delivers Exceptional Assays Ahead of Resource Update
Multiple high-grade intersections with grades up to 194.50g/t Au from infill and extensional RC drilling at Mulga Bill
Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update on exploration at the Company’s flagship Side Well Gold Project (“Side Well”) near Meekatharra in Western Australia which hosts a Mineral Resource Estimate (“MRE”) of 668,000oz @ 2.8 g/t Au.
HIGHLIGHTS
- Reverse circulation (RC) at Mulga Bill has intersected more extremely high gold grades, extending the resource and adding thickness and grade to existing lodes
- Highlights include:
- 5m @ 43.13/t Au from 185m, including 2m @ 102.80/t Au from 186m in 24MBRC028
- 5m @ 40.61g/t Au from 256m, including 1m @ 194.50g/t Au from 258m in 24MBRC030
- 6m @ 20.52g/t Au from 179m, including 2m @ 57.10g/t Au from 179m in 24MBRC027
- 5m @ 16.93g/t Au from 91m, including 2m @ 39.70g/t Au from 92m in 24MBRC023
- Maiden AC drilling to commence imminently on the high priority Side Well South Prospect
Great Boulder’s Managing Director, Andrew Paterson commented:
“These are sensational new intersections at Mulga Bill. The holes were designed to add definition within areas of inferred resource and they have done so in emphatic style, with intersections that are both thicker and higher grade than previously estimated.”
“Equally impressive is the deep result in hole 24MBRC030 which is well outside the resource, down- dip and further north than previous drilling in that area.”
“After several rounds of drilling at Mulga Bill the high-grade lode positions fit our interpretation perfectly, which means we have very high confidence in the validity of this resource model. The drilling has added high-grade intersections up-dip from previous holes on several sections within the resource, which should add gold ounces closer to surface than the current estimate. This will be important for potential mine economics when we start scoping studies.”
Nine RC holes were drilled at Mulga Bill for a total of 1,587m. The program was designed to test poorly defined areas around the edges of the Mulga Bill high-grade vein positions as part of the process to upgrade less-drilled parts of the resource from inferred to indicated category. Highlights from the drilling include:
- 5m @ 43.13g/t Au from 185m, including 2m @ 102.80g/t Au from 186m in 24MBRC028.
- This sits within a Cervelo Lode vein, up-dip to the east from previous drilling.
- 5m @ 40.61g/t Au from 256m, including 1m @ 194.50g/t from 258m in 24MBRC030.
- This HGV lode was previously insufficiently drilled to be classified in the resource; it will now be added to the resource estimate and extends the Cervelo Lodes by approximately 30m to the north.
- 6m @ 20.52g/t Au from 179m, including 2m @ 57.10g/t Au from 179m in 24MBRC027.
- This sits within a Cervelo Lode vein, up-dip to the east from previous drilling.
- 5m @ 16.93g/t Au from 91m, including 2m @ 39.70g/t Au from 92m in 24MBRCD023.
- This sits within a Cervelo Lode vein, up-dip to the east from previous drilling. The intersection contains supergene mineralisation.
- 10m @ 7.92g/t Au from 82m, including 4m @ 18.83g/t Au from 85m in 24MBRC022.
- This sits within a Cervelo Lode vein, up-dip to the east from previous drilling. The intersection also contains supergene mineralisation.
- 2m @ 6.18g/t Au from 90m in 24MBRC025.
Figure 1: Mulga Bill long section looking west
The mineralised wireframes at Mulga Bill will be updated and extended to incorporate the new intersections in preparation for a resource update which will be completed towards the end of the year.
Figure 2: Plan view of the north end of Mulga Bill
Next Steps
The RC rig is currently drilling the final resource definition RC holes at Mulga Bill, after which reconnaissance AC drilling will commence on exciting new targets at Side Well South.
Click here for the full ASX Release
This article includes content from Great Boulder Resources 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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