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May 08, 2025
Sitka Gold Corp. (TSXV: SIG) (FSE: 1RF) (OTCQB: SITKF) ("Sitka" or the "Company") is pleased to announce recently received assay results from its ongoing 2025 diamond drilling campaign at its road accessible RC Gold Project ("RC Gold" or the "Project") located approximately 100 km east of Dawson City in Yukon's prolific Tombstone Gold Belt. Results from DDRCCC-25-076 ("Hole 76") returned 94.0 m of 1.15 g/t gold including 12.2 m of 4.55 g/t gold, and a separate interval of 25.0 m of 5.04 g/t gold, including 1.8 metres of 54.70 g/t gold within 86.4 m of 1.65 g/t gold (see Table 1). Drilling is currently underway at the Blackjack zone and up to 3 additional drill rigs are expected to begin turning in the coming weeks as part of a fully funded 30,000 metre diamond drilling program planned for 2025.
- DDRCC-25-076 ("Hole 76") confirms and extends high-grade gold mineralization at Blackjack with 25.0 m of 5.04 g/t gold, within 86.4 m of 1.65 g/t gold, and a separate interval of 12.2 m of 4.55 g/t gold within 94.0 m of 1.15 g/t gold
- Hole 76 was the deepest hole ever drilled at RC Gold with a drilled length of 810.8 m and strong gold mineralization encountered at the bottom of the hole suggests this high-grade gold zone continues deeper at the Blackjack zone
- Hole 76 is the second hole of a fully funded 30,000 m drilling program planned at RC Gold for 2025
- Drilling has resumed for the summer program with the first of four planned drills currently turning at the Blackjack deposit.
Table 1: Highlights from most recent assay results
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_0b80b0101460ab6b_002full.jpg
"The results from Hole 76 are very encouraging, confirming that the higher-grade gold mineralization intersected at depth in Holes 68 and 75 extends both laterally and to depth and could represent a large, continuous zone of significant tonnage," said Cor Coe, Director and CEO of Sitka Gold. "While Hole 76 was the deepest drill hole completed to date at RC Gold, with a length of 810.8 metres, assays from the bottom of the hole returned strong gold values within mineralized metasediments, indicating that gold mineralization likely extends even deeper. We are now extending Hole 76 further into the depths of this gold system to continue tracking this promising high-grade gold zone as we push towards what could be the source of the Blackjack gold deposit. With a fully funded 30,000 metre diamond drill program currently underway, which will more than double the total amount of our drilling completed at RC Gold to date, we're excited to test the depth potential of this impressive gold system and to begin exploring several other high-priority targets across the Clear Creek Intrusive Complex (see Figure 3)."
Figure 1: Cross Section of DDRCCC-25-075 and DDRCCC-25-076, which is the deepest hole drilled to date at the Blackjack zone. Hole 76 was drilled to a length of 810.8 m, approximately 100 metres deeper than any previous drilling and demonstrates that gold mineralization continues to persist laterally and at depth. Strong gold grades encountered at the bottom of the hole suggest this gold zone continues even deeper into the system.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_0b80b0101460ab6b_003full.jpg
Figure 2: Plan map of drilling at the Blackjack Deposit showing the location of holes DDRCCC-24-068, DDRCCC-25-075 and DDRCCC-25-076 (this release).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_0b80b0101460ab6b_004full.jpg
Figure 3: The Clear Creek Intrusive Complex in the western portion of the RC Gold Project is a cluster of intrusions all with known gold mineralization and numerous current drill target areas highlighted by the magenta hatched areas.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_0b80b0101460ab6b_005full.jpg
Figure 4: Longitudinal section of completed drill holes at the Blackjack Zone. Higher-grade mineralization is defined in a southeast plunging mineralized corridor with gold grades increasing at depth, as observed with the increasing prevalence of higher-grade gold results in recently completed drill core (purple colour), and suggests that drilling is vectoring towards the source of this gold system. The pit-constrained mineral resource shell from the 2023 MRE is shown in orange with the added resources from the updated MRE published earlier this year shown in yellow (see news release dated February 26, 2025).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_sitkafig4.2.jpg
Figure 5: Examples of drill core from the interval beginning at 492.0 m within the larger interval that reports 94.0 m of 1.15 g/t gold. Mineralization consists of abundant narrow sheeted veins cutting a feldspar megacrystic quartz monzonite intrusion.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_0b80b0101460ab6b_007full.jpg
Figure 6: Examples of instances of visible gold observed throughout hole DDRCCC-25-076. Visible gold is found in sheeted quartz veins and is often associated with bismuthinite, scheelite, and arsenopyrite. Additional images of visible gold observed in Hole 76 can be viewed HERE.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_sitkafig6.jpg
Table 2 - Summary of significant drill hole assays from this release
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/6144/251268_0b80b0101460ab6b_009full.jpg
DDRCCC-25-076
Drill hole DDRCCC-25-076 was drilled to a length of 810.8 m at an azimuth of -37o and a dip of -75o to step out from the high grade mineralization intersected in hole DDRCCC-25-075 which intersected 352.8 m of 1.55 g/t gold from 341.5 m including 108.9 m of 3.27 g/t gold and 45.0 m of 4.52 g/t gold. Hole 076 intersected several narrower zones of well-mineralized quartz monzonite cutting broad zones of altered metasediments along with several broad structural zone within the metasediments containing abundant cm-scale sheeted quartz veins with multiple occurrences (over 60) of visible gold. Hole 076 ended in 4.8 m of 0.86 g/t gold in sheeted veins cutting metasediments.
Quality Assurance/Quality Control
On receipt from the drill site, the HTW/NTW-sized drill core was systematically logged for geological attributes, photographed and sampled at Sitka's core logging facility. Sample lengths as small as 0.3 m were used to isolate features of interest, otherwise a default 2 m downhole sample length was used. Each sample is identified by a unique sample tag number which is placed in the bag containing the core to be assayed. Core was cut in half lengthwise along a predetermined line, with one-half (same half, consistently) collected for analysis and one-half stored as a record. Standard reference materials, blanks and duplicate samples were inserted by Sitka personnel at regular intervals into the sample stream. Bagged samples were placed in secure bins to ensure integrity during transport. They were delivered by Sitka personnel or a contract expeditor to ALS Laboratories' preparatory facility in Whitehorse, Yukon, with analyses completed in North Vancouver.
ALS is accredited to ISO 17025:2005 UKAS ref. 4028 for its laboratory analysis. Samples were crushed by ALS to over 70 per cent passing below two millimetres and split using a riffle splitter. One-thousand-gram splits were pulverized to over 85 per cent passing below 75 microns. Gold determinations are by fire assay with an inductively coupled plasma mass spectroscopy (ICP-AES) finish on 50 g subsamples of the prepared pulp (ALS code: Au-ICP-22). Any sample returning over 10 g/t gold was re-analyzed by fire assay with a gravimetric finish on a 50 g subsample (ALS code: Au-GRA21). In addition, a 51-element analysis was performed on a 0.5 g subsample of the prepared pulps by an aqua regia digestion followed by an inductively coupled plasma mass spectroscopy (ICP-MS) finish (ALS code: ME-MS41).
About the Flagship RC Gold Project
The RC Gold Project consists of a 431 square kilometre contiguous district-scale land package located in the heart of Yukon's Tombstone Gold Belt. The project is located approximately 100 kilometres east of Dawson City, which has a 5,000 foot paved runway, and is accessed via a secondary gravel road from the Klondike Highway which is usable year-round and is an approximate 2 hour drive from Dawson City. It is the largest consolidated land package strategically positioned mid-way between the Eagle Gold Mine and the past producing Brewery Creek Gold Mine.
The RC Gold Project now has pit-constrained mineral resources that are contained in two zones: the Blackjack and Eiger gold deposits with 1,291,000 ounces of gold grading 1.01 g/t gold in an indicated category and 1,044,000 ounces of gold grading 0.94 g/t gold in an inferred category at Blackjack and 440,000 ounces of gold grading 0.50 g/t gold in an inferred category at Eiger. These resource estimate numbers are supported by the recently updated technical report for RC Gold, prepared in accordance with NI 43-101 standards, entitled "Clear Creek Property, RC Gold Project NI 43-101 Technical Report Dawson Mining District, Yukon Territory", prepared by Ronald G. Simpson, P. Geo., of GeoSim Services Inc. with an effective date of January 21, 2025. This report is available on SEDAR+ (http://www.sedarplus.ca) and on the Company's website (www.sitkagoldcorp.com).
Both of these deposits begin at surface, are potentially open pit minable and amenable to heap leaching, with initial bottle roll tests indicating that the gold is not refractory and has high gold recoveries of up to 94% with minimal NaCN consumption (see News Release July 13, 2022).
As of the end of 2024, the Company has drilled 72 diamond drill holes into this system for a total of approximately 25,136 metres. Other targets drilled to date include the Saddle, Josephine, Rhosgobel and Pukelman zones. The resource expansion drilling in 2023 at Blackjack produced results of up to 219.0 m of 1.34 g/t gold including 124.8 m of 2.01 g/t gold and 55.0 m of 3.11 g/t gold in drill hole DDRCCC-23-047 (see news release dated September 26, 2023) and in 2024 results of up to 678.1 metres of 1.04 g/t gold starting from surface in DDRCCC-24-068, including 409.5 metres of 1.36 g/t gold, 93.0 metres of 2.57 g/t gold and 5.5 metres of 17.59 g/t gold (see news release dated October 21, 2024). Drilling in 2025 includes hole DDRCCC-25-075 which intersected 352.8 metres of 1.55 g/t gold including 108.9 metres of 3.27 g/t gold. (see news release dated October 21, 2024).
A planned 30,000 metre diamond drilling program for 2025 is currently underway at RC Gold.
RC Gold Deposit Model
Exploration on the Property has mainly focused on identifying an intrusion-related gold system ("IRGS"). The Property is within the Tombstone Gold Belt which is the prominent host to IRGS deposits within the Tintina Gold Province in Yukon and Alaska. Notable deposits from the belt include: Fort Knox Mine in Alaska with current Proven and Probable Reserves of 230 million tonnes at 0.3 g/t gold (2.471 million ounces; Sims 2018)(1); Eagle Gold Mine with current Measured and Indicated Resources of 233 million tonnes at a grade of 0.57 g/t gold at the Eagle Main Zone (4.303 million ounces; Harvey et al, 2022)(2); the Brewery Creek deposit with current Indicated Mineral Resource of 22.2 million tonnes at a gold grade of 1.11 g/t (0.789 million ounces; Hulse et al. 2020)(3); the Florin Gold deposit with a current Inferred Mineral Resource of 170.99 million tonnes grading 0.45 g/t gold (2.47 million ounces; Simpson 2021)(4); the AurMac Project with an Inferred Mineral Resource of 347.49 million tonnes grading 0.63 gram per tonne gold (7.00 million ounces)(5) and the Valley Deposit, with a current Indicated Mineral Resource of 4.05 million oz gold at 1.66 g/t gold and an additional Inferred Mineral Resource of 3.26 million oz at 1.25 g/t gold(6). The technical and scientific information disclosed from neighboring properties does not necessarily apply to the current project or property being disclosed.
(1) Sims J. Fort Knox Mine Fairbanks North Star Borough, Alaska, USA National Instrument 43-101 Technical Report. June 11, 2018. https://s2.q4cdn.com/496390694/files/doc_downloads...
(2) Harvey N., Gray P., Winterton J., Jutras M., Levy M.,Technical Report for the Eagle Gold Mine, Yukon Territory, Canada. Victoria Gold Corp. December 31, 2022. https://vgcx.com/site/assets/files/6534/vgcx_-_202...
(3) Hulse D, Emanuel C, Cook C. NI 43-101 Technical Report on Mineral Resources. Gustavson Associates. May 31, 2020. https://minedocs.com/22/Brewery-Creek-PEA-01182022...
(4) Simpson R. Florin Gold Project NI 43-101 Technical Report. Geosim Services Inc. April 21, 2021. https://sedar.com/GetFile.do?lang=EN&docClass=24&i... d=4984158
(5) Thornton T., Jutras M., Malhotra D. Technical Report Aurmac Property Mayo Mining District, Yukon Territory, Canada. JDS Energy and Mining Inc. February 6, 2024. https://banyangold.com/site/assets/files/5251/bany...
(6) Burrell H., Redmond D.J., Haggarty P., Rogue Gold Project: NI 43-101 Technical Report and Mineral Resource Estimate, Yukon Territory, Canada. Snowline Gold Corp. May 15, 2024. https://snowlinegold.com
Upcoming Events
Sitka Gold will be attending and/or presenting at the following events*:
- 121 Mining Investment - London, England: May 12 - 13, 2025
- Canaccord Global Metals and Mining Conference - Henderson, NV: May 20 - 22, 2025
- Yukon Mining Alliance - Dawson City, Yukon: July 9 - 14, 2025
- Takestock Stampede - Calgary, AB: July 2, 2025
- Precious Metals Summit, Beaver Creek, Colorado: September 9 - 12, 2025
*All events are subject to change.
About Sitka Gold Corp.
Sitka Gold Corp. is a well-funded mineral exploration company headquartered in Canada with over $25 million in its treasury and no debt. The Company is managed by a team of experienced industry professionals and is focused on exploring for economically viable mineral deposits with its primary emphasis on gold, silver and copper mineral properties of merit. Sitka is currently advancing its 100% owned, 431 square kilometre flagship RC Gold Project located within the Tombstone Gold Belt in the Yukon Territory. The Company is also advancing the Alpha Gold Project in Nevada and currently has drill permits for its Burro Creek Gold and Silver Project in Arizona and the Coppermine River Project in Nunavut.
*For more detailed information on the Company's properties please visit our website at www.sitkagoldcorp.com.
The scientific and technical content of this news release has been reviewed and approved by Gilles Dessureau, P.Geo., Vice President of Exploration of the Company, and a Qualified Person (QP) as defined by National Instrument 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
SITKA GOLD CORP.
"Donald Penner"
President and Director
For more information contact:
Donald Penner
President & Director
778-212-1950
dpenner@sitkagoldcorp.com
or
Cor Coe
CEO & Director
604-817-4753
ccoe@sitkagoldcorp.com
Neither TSX Venture Exchange 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.
Cautionary and Forward-Looking Statements
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-Looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" or "occur". This information and these statements, referred to herein as "forward‐looking statements", are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management's expectations and intentions and the Company's anticipated work programs.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, market uncertainty and the results of the Company's anticipated work programs.
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
SIG:CA
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Murchison South Increases to 67koz Gold Across Two Pits
Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to announce the completion of a new Mineral Resource Estimate (MRE) for the Pansy Pit deposit at its Murchison South Gold Project. The estimate, prepared by independent consultants Mining Plus, reported above a cut-off grade of 0.5g/t Au, confirms a near-surface inferred resource of 72kt @ 2.5g/t Au for 5,800 oz. This adds to the existing 61,300 oz gold resource at the nearby Blue Heaven deposit, bringing the total gold resource inventory at Murchison South to approximately 67,100 oz.
HIGHLIGHTS
- Pansy Pit: Mining Plus confirms Mineral Resource Estimate (MRE) for the Pansy Pit Deposit at Murchison South:
From Surface 72kt @ 2.5g/t Au for 5,800 oz Gold (Table 1) - Blue Heaven: Mining Plus confirms MRE for the Blue Heaven deposit at Murchison South: From Surface 681kt @ 2.8 g/t Au for 61,300 oz Gold (Table 1) (ASX Announcement 9 April 2025)
- Blue Heaven and Pansy Pit MRE, together total ~67,100 oz Gold
- Pansy Pit MRE is based solely on review by Mining Plus of historical drilling
- Historical drilling was only to 60m, mineralisation open at depth and along strike north and south (Figure 2)
- The Pansy Pit has the potential to be a shallow, open pit mining operation, with mineralisation observed from surface
- Strong Gold Market: Spot gold price of ~A$5,000/oz offers significant upside versus the A$3,500/oz price used in the MRE to model pit shells
- The Pansy Pit sits within granted Mining lease M59/662 and is just over 2km from the Company’s Blue Heaven deposit and on the south side of the Great Northern Highway (Figure 3)
- The Pansy Pit provides evidence of the expansion potential along the Primrose Fault, notably to the south at the Shamrock deposit and to the north at the Pansy North and Jacamar deposits (Figure 3)
The Pansy Pit MRE is shown in Table 1 on page 3.
Figure 1. Pansy Pit rotated and unclipped longsection view looking north with the optimised pit shell in grey, drill traces as black lines and the block model coloured by classification.
Figure 2. Pansy Pit rotated cross section view looking south at ~6,762,078mN +/- 10m with the optimised pit shell in black, drill traces as black lines and the block model coloured by estimated Au grade.
Click here for the full ASX Release
This article includes content from Reach 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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John Feneck, portfolio manager and consultant at Feneck Consulting, shares his updated outlook for gold and silver prices, outlining key support and resistance levels.
He also discusses precious metals and critical minerals stocks that he's watching.
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Top 10 Biggest Gold Mines in Australia
Australia is currently tied with Russia for second place in global gold production.
With gold's price trading at historic highs, it's a good time for investors to find out more about gold mines in Australia.
Learning about Australia's biggest gold mines is a good place to start. Read on for a look at where gold is mined in Australia and how much gold is produced at the biggest Australian gold mines.
Where is gold mined in Australia?
One of the nation's more prolific gold-mining areas is Western Australia, which according to the Fraser Institute is one of the best mining jurisdictions in the world. Unsurprisingly, the area has attracted major miners like Rio Tinto (ASX:RIO,LSE:RIO,NYSE:RIO) and BHP (ASX:BHP,NYSE:BHP,LSE:BLT).
In fact, gold was the second most valuable commodity in Western Australia in 2023 - 2024, only behind liquefied natural gas; gold sales came in a record AU$20 billion during that time.
Overall, according to statistical data provided by the government of Western Australia, the state alone produced 211.22 tonnes of gold in 2023/2024, compared to just 80.73 tonnes of gold produced in the rest of the country.
Within Western Australia, the Pilbara region has renewed interest and helped increase the country’s consistent gold output. Covering more than half a million square kilometres, the Pilbara area is one of the most resource-rich regions in the state. And while the Pilbara area is better known as an iron ore hotspot, it's currently in the midst of a small gold rush thanks to a major discovery in 2017 by Novo Resources (TSXV:NVO,OTCQX:NSRPF) and Artemis Resources (ASX:ARV,OTCQB:ARTTF).
Some geologists have compared the geology of the Pilbara Craton with South Africa’s Witwatersrand Basin, which is home to the Earth’s largest known gold reserves and is responsible for over 40 percent of worldwide gold production.
Both the Pilbara and Witwatersrand are similar in age and composition, sitting on top of the Archean granite-greenstone basement. The Pilbara area hosts numerous small mesothermal gold deposits containing conglomerate gold — mineralisation known to hold large, high-grade gold nuggets.
What are the biggest Australian gold mines?
Below is a tour of the 10 largest gold mines in Australia in terms of 2024 gold production, including information on their operations and 2025 guidance. Data is taken from company reports and MiningDataOnline.
1. Boddington
The Boddington open-pit gold and copper mine entered production in 2009 and is located 16 kilometres from Boddington, Western Australia. Once a three-way joint venture, Newmont (TSX:NGT,NYSE:NEM) became the sole owner of Boddington in 2009.
In calendar year 2024, Boddington produced 590,000 ounces of gold, down from 745,000 ounces produced in 2023, as the planned mine sequence means operations are currently focused on a section with lower gold grades. This will continue to impact output in 2025 as well, leading Newmont to set guidance at 560,000 ounces of gold for the year.
However, the company is working on laybacks in the North and South pits that should provide access to ore bodies with higher gold grades, which it says will help increase production once completed in 2026.
The mine produced 126,000 ounces of gold in the first three months of 2025.
2. Cadia Valley
Located in New South Wales, Cadia Valley is now owned and operated by Newmont following its acquisition of Newcrest Mining in November 2023.
Once the biggest gold mine in Australia, Cadia’s production numbers have been in decline in recent years, slipping from 843,000 ounces of gold in 2020 to 464,000 ounces in 2024. Output is expected to continue to decline in 2025, with Newmont setting guidance at 280,000 ounces.
The company is transitioning to operations in panel cave 2-3, from which peak production is expected from 2027 to 2032. It is also developing panel cave 1-2 with production planned to begin in 2027.
Cadia produced 103,000 ounces of gold in the first quarter of 2025.
3. KCGM
Northern Star Resources (ASX:NST,OTC Pink:NESRF) owns the Kalgoorlie Consolidated Gold Mines (KCGM) operations, home to the famous Super Pit, which is actually named the Fimiston open pit. KCGM also hosts the Fimiston and Mount Charlotte underground mines and the Fimiston and Gidji processing plants.
Northern Star became the sole owner of the KCGM operations in February 2021.
KCGM is located in the legendary Golden Mile, which was once reputed to be the richest square mile on Earth, and the operations sit on 13.27 million ounces of gold reserves. The operations reached the milestone of 50 million ounces of gold production in 2019.
In Northern Star's fiscal year 2023/2024, KCGM produced 449,032 ounces of gold. In mid-2023, Northern Star launched a AU$1.5 billion expansion project at KCGM's Fimiston processing plant that is expected to increase gold production to 900,000 ounces per year by 2029.
KGCM produced 117,703 ounces of gold during the first three months of 2025.
4. Tropicana
Located in Western Australia, the Tropicana gold mine is co-owned by AngloGold Ashanti (ASX:AGG,NYSE:AU) and Regis Resources (ASX:RRL,OTC Pink:RGRNF) through a 70/30 joint venture.
the mine spans 3,600 square kilometres and stretches over close to 160 kilometres in strike length along the Yilgarn Craton and Fraser Range mobile belt collision zone. The regional geology is dominated by granitoid rocks, making it a rare example of a large gold deposit within high-grade metamorphic rocks that have undergone widespread recrystallisation and melting.
In calendar 2024, Tropicana produced 426,000 ounces of gold, with AngloGold Ashanti’s 70 percent accounting for 313,000 ounces and the rest attributed to Regis.
As part of AngloGold Ashanti's commitment to lowering its carbon footprint, a 62 megawatt wind and solar facility is currently under construction at Tropicana. The project is expected to be completed during the first quarter of 2025 and will reduce greenhouse gas emissions at the site by an estimated 65,000 per year.
Tropicana produced 100,000 ounces of gold during the fourth quarter of 2024.
5. Tanami
Tanami has been fully owned and operated by Newmont since 2002 and is located in the Northern Territory's remote Tanami Desert. Both the mine and the plant are located on Aboriginal freehold land that is owned by the Warlpiri people and managed on their behalf by the Central Desert Aboriginal Lands Trust.
Tanami is a fly-in, fly-out operation in one of Australia’s most remote locations. The asset is 270 kilometres away from its closest neighbours, the remote Aboriginal community of Yuendumu.
In 2024, Tanami produced 408,000 ounces of gold, down from the 448,000 ounces the previous year.
Newmont announced the Tanami Expansion 2 project in October 2023, and expects commercial production to start in the second half of 2025. Once complete, it is expected to extend the mine's life beyond 2040 and increase its annual gold production by approximately 150,000 to 200,000 ounces for the initial five years.
Newmont has projected that 2025 will see a further decrease to 380,000 ounces due to lower grades. According to the company, 60 percent of that production is expected during the second half of the year as the mine expansion comes online.
Tanami produced 78,000 ounces of gold in the first three months of 2025.
6. Cowal
Owned by Evolution Mining, Cowal is the company's largest gold-producing asset. The mine is located near Bland Shire in New South Wales within the traditional lands of the Wiradjuri people.
In 2023, Evolution marked important milestones in the mine’s development with the ramp-up in production of its newly cutback Stage H portion of its open pit mine and the early completion of its underground mine.
The new underground portion of Cowal helped to deliver a record production in its fiscal year 2024 of 312,644 ounces of gold versus 276,314 ounces during its fiscal 2023.
Due to high gold prices and strong production numbers, the company reported that it has been able to repay capital costs for the acquisition and expansion at Cowal. In total, the mine generated AU$604.9 million in fiscal 2024 ended June 30, 2024.
Cowal produced 80,657 ounces of gold in the quarter ended March 31, 2025.
7. St. Ives
Owned and operated by Gold Fields (NYSE:GFI,JSE:GFI), St. Ives consists of multiple open-pit and underground mines near Kambalda in Western Australia.
In Gold Fields’ 2024 annual report, the company detailed that output from St. Ives came in at 331,200 ounces of gold during the calendar year, a slight decline from the 371,800 ounces achieved in 2023 due to lower grades.
In March 2024, Gold Fields announced the construction of a microgrid project at St. Ives that will add 42 megawatts (MW) of wind and 35 MW of solar, generating 73 percent of the operation’s electrical requirements. The company expects the microgrid to be operational toward the end of 2025. Overall, it is projected to reduce scope 1 and 2 emissions at the mine by 50 percent in 2030.
St. Ives produced 85,200 ounces of gold in Q1 2025, up 24 percent year over year.
8. Jundee
Jundee is located in the Northern Goldfields region of Western Australia and is owned by Northern Star, which purchased it from Newmont in 2014 for AU$82.5 million. The property is part of Northern Star's Yandall operations, and is well known due to the fact that it solely uses underground mining after transitioning from an open pit operation. Along with Cadia Valley, Jundee is one of the lowest-cost gold producers on this list.
The asset produced 280,963 ounces of gold in the company’s fiscal 2024 ended June 30 2024, lower than the 320,201 ounces produced the previous year. Production at Jundee was impacted by a fire in the processing plant in the June quarter that resulted in 10 days of unplanned downtime.
In June of 2023, Northern Star announced it would be integrating 24 MW of wind and 16.9 MW of solar into its existing gas power station network and would be supplementing the entire system with 12 MW of battery energy storage.
The windfarm was completed in 2025, and renewable generation is expected to account for 56 percent of the mine's power and contribute to a 36 percent reduction in Northern Star’s carbon footprint.
During the March quarter of 2025, Jundee produced 64,373 ounces of gold.
9. Duketon South
Owned by Regis Resources (ASX:RRL,OTC Pink:RGRNF), Duketon South is located in the North Eastern Goldfields of Western Australia. The operation is composed of the Garden Well and Rosemont operations, with both hosting open pit and underground mines.
The primary processing facility at Garden Well has a 5 million tonne per annum throughput rate with a two-stage crushing circuit, scrubber and ball mill, as well as a 7.5 million tonne per annum carbon-in-leach circuit, which also handles slurry from Rosemont.
In the company’s fiscal 2024 report, Regis Resources indicated production had decreased to 244,455 ounces of gold for the year ended June 30 from 252,672 ounces produced in 2023.
In May 2024, Regis announced it approved development for a new underground mining area at Garden Well and an extension to the Rosemont underground mine. Once these are complete, Regis is projecting annual production of 100,000 to 120,000 ounces of additional capacity by fiscal 2027.
During the quarter ending March 31, Duketon South produced 58,100 ounces of gold.
10. Fosterville
Fosterville, which is owned by Agnico Eagle Mines (TSX:AEM,NYSE:AEM), is a high-grade, low-cost underground gold mine located in the state of Victoria.
The mine has been operational since 1989, with a lifetime production of over 16 million ounces of gold. The asset produced 225,203 ounces of gold in calendar 2024, a decrease from the 278,000 ounces produced in 2023. Agnico Eagle attributes the decrease to lower grades as it processes the remaining areas of the Swan zone.
The company has forecast continued declines from Fosterville putting guidance at 140,000 to 160,000 ounces in 2025.
Fosterville produced 43,615 ounces of gold during the first quarter of 2025.
How to invest in Australian gold stocks?
Investing in Australian gold stocks is similar to stocks in other sectors. Gold companies issue shares on stock exchanges that are available for investors to trade. When you purchase shares of a gold stock, you are essentially purchasing a stake in the company.
Many gold companies in Australia are listed on the ASX, making them easily accessible to Australian investors. To invest in the companies that are listed on international exchanges, Australian investors will have to use a broker that has access to that market.
For North American investors looking to invest in Australian gold companies, some are dual-listed on Canadian and US stock exchanges as well, making them more accessible.
As for deciding which type of gold company to invest in, whether you choose to invest in gold-mining stocks or gold companies at the development or exploration stage should be based on your risk tolerance. In general, established companies that are producing metal are more stable and less risky than smaller companies that are still exploring for gold or building a mine.
Although no investing strategy is 100 percent foolproof, experts often recommend gold stocks as a way to hedge exposure to general stock market. That's because they tend to move in tandem with the price of gold.
For more ideas in how to invest in Australian gold stocks, check out our articles on the biggest ASX-listed gold stocks and the top-gaining ASX gold stocks year-to-date.
This is an updated version of an article first published by the Investing News Network in 2019.
Don’t forget to follow us @INN_Australia for real-time updates!
Securities Disclosure: I, Dean Belder, currently hold no direct investment interest in any company mentioned in this article.
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7h
Gold Surge: Economic Uncertainty Fuels Next Wave of Exploration
Amid persistent economic volatility and geopolitical tensions, gold remains a reliable safe-haven investment. Analysts believe this strength isn't merely a short-term reaction, but rather a reflection of deeper structural factors that are reshaping the global economic landscape and driving a renaissance in gold exploration.
The precious metal's price has maintained remarkable resilience, reaching an all-time high of US$3,500 per ounce on April 22, 2025, spurred on by converging factors that have created an exceptionally favorable environment.
Central banks worldwide have emerged as significant buyers of the yellow metal, adding to their reserves at the fastest pace in decades. According to the World Gold Council, central banks’ annual net gold purchases reached 1,037 metric tons in 2023, just shy of 2022's record amount. Their buying reflects growing concerns about currency debasement and the search for assets that can maintain value during periods of economic stress.
Meanwhile, persistent inflation concerns, despite fluctuating interest rates, have kept investors vigilant about preserving wealth. Geopolitical tensions across multiple regions have further enhanced gold's appeal as a safe haven asset.
From ongoing conflicts in Eastern Europe to trade tensions between major economies, the global political landscape continues to generate uncertainty that drives capital toward precious metals.
Perhaps most telling has been the gradual shift in investor sentiment from high-growth tech stocks toward tangible assets and commodities. This rotation reflects a broader reassessment of risk in investment portfolios after years of market volatility.
Supply challenge: A crisis in plain sight
While demand dynamics have captured headlines, a less-discussed but equally important factor supporting gold's outlook is the emerging supply crunch. The gold-mining industry faces a silent crisis: declining discovery rates coupled with aging mines approaching the end of their productive lives.
Major gold producers are struggling to maintain their production levels as reserves deplete faster than they can be replaced. According to a report by McKinsey & Company, gold reserves have declined by approximately 25 percent since their peak in 2012, despite rising exploration budgets in recent years.
The challenge stems from the fundamental difficulty in finding new, economically viable gold deposits. The easy-to-find surface deposits have largely been discovered, forcing exploration to go deeper, into more remote regions and into jurisdictions that may carry higher operational risks.
This supply constraint isn't likely to resolve quickly. The timeline from initial discovery to production typically spans 10 to 15 years, meaning that today's exploration success won't translate into new supply until well into the next decade. This lag creates a structural support for gold prices that could persist regardless of short-term economic fluctuations.
Capital returns to exploration
Recognizing both the price strength and supply challenges, investors are once again directing capital toward gold exploration companies. After years of underinvestment following the previous gold bull market's end, financing for junior miners has seen a remarkable resurgence.
The financing revival has been accompanied by increased M&A activity as major producers look to secure future production pipelines by acquiring promising juniors.
This M&A trend provides an additional potential catalyst for investors in exploration companies, as successful discoveries can attract premium takeover offers from producers desperate to replenish their reserves.
This shifting paradigm is revitalizing exploration efforts across multiple regions. Canada's historic mining districts continue to attract attention, while West African nations like Burkina Faso, Mali and Côte d'Ivoire have emerged as exploration hotspots. Perhaps most interesting is the renewed focus on Colombia, a country with rich mineral potential that remains relatively underexplored due to its complex history.
Colombian opportunity: Quimbaya Gold's strategic position
One company positioned to benefit from these trends is Quimbaya Gold (CSE:QIM,OTCQB:QIMGF), a Canadian gold exploration company focused on unlocking high-grade gold opportunities in Colombia’s prolific Antioquia region, which produces over half of the country’s gold.
The company’s investment value proposition lies in its strategic landholdings totaling over 59,000 hectares across three highly prospective projects: Tahami, Berrio and Maitamac. These projects are located in well-established mining districts and positioned near major gold operations, offering both geological upside and infrastructure advantages.
The flagship Tahami project, covering 17,087 hectares, is particularly well positioned adjacent to Aris Mining's (TSX:ARIS,NYSEAMERICAN:ARMN) Segovia mine — one of the highest-grade gold mines globally, which produced 220,000 ounces in 2024. This proximity to a world-class operation enhances Tahami’s exploration potential, and Quimbaya is advancing the project through detailed mapping, LiDAR surveys, streaming, rock and soil samples and Mobile Metal Ion soil sampling to delineate drill targets.
Supporting its exploration efforts, Quimbaya has secured a five year drilling agreement with Independence Drilling, committing to 100,000 meters of drilling. The structure of the deal, with the drilling contractor accepting up to 100 percent payment in Quimbaya shares, is a vote of confidence in the company’s prospects and aligns both parties' interests.
Quimbaya has also established a 50/50 joint venture with Denarius Metals (OTCQX:DNRSF) for the Tahami project, which complements Quimbaya's ongoing exploration efforts. Both parties are focused on finalizing a definitive agreement as soon as possible.
In addition to Tahami, the Berrio project, spanning 8,746 hectares in the Low Magdalena region, benefits from a history of medium-scale gold mining over the past 50 years, indicating a strong geological foundation. Meanwhile, the 33,223 hectare Maitamac project, located 80 kilometers south of Medellín, is emerging as a potentially significant new gold metallogenic district, offering blue-sky exploration potential.
Recent capital raising activity, including a C$2.7 million private placement, has further strengthened Quimbaya’s financial position, allowing it to accelerate its exploration programs across all three properties.
With a strong portfolio, experienced technical partners, and a clear strategy targeting high-grade gold systems in a proven jurisdiction, Quimbaya presents a compelling opportunity for investors seeking exposure to early stage gold exploration with district-scale upside in Colombia.
Investor takeaway
As the gold market dynamics continue to evolve, one thing remains clear: exploration success is crucial to the industry's long-term sustainability. While production from existing mines can be optimized incrementally, only new discoveries can meaningfully address the looming supply shortfall.
For investors, this creates an opportunity to participate in the gold market beyond simply holding the physical metal or shares in established producers. Early stage exploration companies offer potential for outsized returns, albeit with corresponding risk levels. The most successful investors in this space typically build portfolios of exploration companies, recognizing that while some projects will inevitably disappoint, others may deliver returns that more than compensate for the failures.
The risk/reward equation in gold exploration has shifted favorably in recent years. With major producers trading at historically high multiples to their reserves and struggling to replace production organically, successful explorers can command premium valuations. Investors who can identify quality projects and management teams before major discoveries have the potential to achieve significant returns.
Companies like Quimbaya exemplify the opportunity at hand — targeting underexplored regions with substantial discovery potential at precisely the moment when new deposits are most needed and valued.
This INNspired article is sponsored by Quimbaya Gold (CSE:QIM,OTCQB:QIMGF,FWB:K05). This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by Quimbaya Goldin order to help investors learn more about the company. Quimbaya Gold is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Quimbaya Goldand seek advice from a qualified investment advisor.
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8h
Adavale Resources
Investor Insight
Adavale Resources’ transformative January 2025 acquisition of gold and copper assets in the prolific Lachlan Fold Belt in New South Wales puts the company on a growth trajectory, presenting a compelling investment opportunity for savvy investors.
Overview
Adavale Resources (ASX:ADD) is a dynamic junior exploration company primarily focused on its flagship gold and copper projects in New South Wales (NSW), within the prolific Lachlan Fold Belt. This portfolio spans 354.15 sq kmand comprises four tenements: EL7242, EL8830, EL8831 and EL9711. The acquisition of these assets represents a transformational opportunity, strategically positioning Adavale Resources in one of the world’s richest gold and copper belts.
Parkes Project in the Lachlan Fold Belt
In addition to gold and copper, Adavale boasts extensive uranium assets in South Australia and nickel projects in Tanzania. These diversified holdings place the company at the forefront of exploration across commodities critical for global industrial and technological advancement.
Adavale Resources is poised for significant growth as it advances its gold and uranium projects through strategic drilling programs in 2025. With a robust exploration pipeline, world-class assets in tier-one jurisdictions, and a leadership team aligned with shareholder interests, the company is well-positioned to capitalise on favourable commodity trends.
Company Highlights
- A junior explorer, with projects in tier-one jurisdictions; focused on gold and copper, Adavale also holds valuable uranium and nickel licences .
- The January 2025 acquisition of the Parkes project in the Lachlan Fold Belt, spanning 354.15 sq km, strategically positions Adavale to expand on the historic orogenic gold resource (124 koz gold) and make a major epithermal and/or porphyry gold and copper discovery in this tier-1 mining jurisdiction. The Lachlan Fold Belt assets are strategically located near world-class mining operations, including Cadia, Northparkes and Cowal.
- The company’s extensive uranium tenements span 4,959 sq km across the Flinders Ranges and Eyre Peninsula, regions known for hosting tier-one uranium deposits.
- Adavale’s nickel projects in Tanzania’s East African Nickel Belt are strategically located adjacent to the Kabanga nickel project — the world’s largest undeveloped high-grade nickel sulphide deposit.
- Drilling and resource-definition programs in 2025 will target key gold, copper and uranium assets, building on the company’s diversified growth strategy.
Key Projects
Gold and Copper – Lachlan Fold Belt, NSW
Adavale Resources recently acquired a 72.5 percent interest in the Parkes project, located in the highly prospective Lachlan Fold Belt of New South Wales. Adavale’s flagship project encompasses 354.15 sq km across four tenements in the Lachlan Fold Belt, a region that has produced over 80 million ounces (Moz) of gold and 13 million tonnes (Mt) of copper historically. The London-Victoria gold mine (EL7242) is a cornerstone of this portfolio, with historical production of 200,000 ounces of gold at an average grade of 2 grams per ton (g/t). London-Victoria (EL7242) also recently received a successful renewal until November 2030.
Exploration activity in 2024 included diamond drilling, which intersected a 12-meter-thick zone of quartz-carbonate veining and shearing, consistent with high-grade mineralisation seen in historical operations. Assay results from this program are pending and expected to provide critical insights for resource expansion.
In addition to the London-Victoria gold mine, the Ashes Prospect (EL8831) has returned high-grade rock chip samples, including results of 8.8 g/t gold and 5.5 percent copper. Similarly, the Birthday mine (EL8830) boasts historical grades averaging 11 g/t gold. The 2025 exploration strategy focuses on resource definition and advancing London-Victoria to JORC-compliant status, testing extensions, and unlocking additional mineralised zones at these prospects, supported by advanced geophysical and geochemical surveys.
Uranium – South Australia
Adavale holds 4,959 sq kmof uranium-rich tenements across the highly prospective Flinders Ranges outwash and Eyre Peninsula, regions known for hosting tier-1 uranium deposits. Historical drilling has revealed promising results, including intercepts of 1 metre at 263 parts per million (ppm) eU3O8 and 0.65 meters at 235 ppm eU3O8. These results underscore the region’s potential to host significant uranium resources.
The company is advancing its maiden 2,000 metre air core drilling program in Q1 of 2025, targeting paleochannel extensions and uranium redox boundaries, which have been identified through advanced geophysical surveys. Adavale’s uranium portfolio is particularly well-positioned to benefit from increasing global demand for uranium, driven by geopolitical factors, rising nuclear energy investment globally, and surging prices, which reached $106/lb in early 2024.
Nickel – East African Nickel Belt, Tanzania
Adavale’s nickel portfolio includes 1,315 sq km across 12 highly prospective exploration licences in Tanzania’s East African Nickel Belt. It is strategically located next to and along strike of the world-class Kabanga nickel project — the world’s largest undeveloped high-grade nickel sulphide deposit. Recent exploration at the Luhuma Central prospect has confirmed nickel sulphides in all five drill holes completed, with mineralisation trends extending southwest.
The company employs a combination of geophysical methods, including gravity, magnetics and Heli-EM surveys, to refine its understanding of subsurface structures and identify high-priority drill targets. Adavale’s ongoing exploration in this globally significant nickel belt is expected to build on recent successes, advancing resource definition and project development, making the company well-positioned to make a significant contribution to the global demand for battery metals.
Leadership Team
Allan Ritchie - Executive Chairman and CEO
Allan Ritchie is a seasoned executive with more than 30 years of experience in corporate finance and resource management, including as director and officer of ASX and HK listed companies. Ritchie’s distinguished career spans both the energy, resources, and investment banking sectors, and includes leadership roles in both private and publicly listed companies.
Ritchie has served as non-executive director of ASX listed Hydrocarbon Dynamics (ASX:HCD), and executive director and deputy CEO of HK listed energy group, EPI Holdings (0689.HKEX).
Ritchie’s investment banking background includes structuring commercial transactions in the energy and resources sector. Senior roles include positions within Westpac, ANZ Bank, HSBC and BNP Paribas in Australia, London, New York and Asia Pacific. His investment banking achievements have been recognised several times at the top of BRW’s annual poll of bankers.
Ritchie graduated from the University of Technology in Sydney in 1986 with a Bachelor of Business and subsequently attained a post graduate diploma in Applied Finance from the Financial Services Institute of Australia.
Maurice (Nic) Matich - Non-executive Director
Maurice (Nic) Matich is a mechanical engineer and finance professional with over 17 years’ experience in the resources sector. His wide industry experience includes the provision of engineering, risk consulting and insurance services to numerous tier-1 mining companies with operations in lithium, iron ore, mineral sands, gold and kaolin.
Matich previously served as managing director of Pinnacle Minerals (ASX:PIM) and executive director of Heavy Minerals (ASX:HVY), delivering both a maiden resource and scoping study (NPV8 $253M) for the Port Gregory project.
He holds a Bachelor of Engineering with Honours, Bachelor of Science (Phys/IT) and a graduate diploma in Applied Finance and is a graduate of the AICD.
David Ward - Non-executive Technical Director (Geologist)
David Ward is a seasoned geologist and mining industry executive with over 25 years of experience encompassing early-stage exploration, project development through to open pit and underground mining. For the last 8 years, he served as chief geologist of private company, Bacchus Resources. Ward was instrumental in defining over 950Koz of gold resources in the NT, while overseeing the development of other exploration assets in the NT, QLD and NSW. These assets were then incorporated into key projects for multiple ASX-listed exploration companies.
In addition to his success at Bacchus Resources, Ward has played key exploration and operational technical roles in several companies, including Newcrest Mining, as Production and Resource Definition Geologist for the Cadia Gold Mine and Clancy Exploration as senior exploration geologist overseeing porphyry and epithermal exploration in the Lachlan Fold Belt NSW.
Leonard Math - CFO & Company Secretary
Leonard Math is a chartered accountant with extensive experience managing financial operations for ASX listed resources companies. He graduated with a Bachelor of Business (double major in accounting and information systems) from Edith Cowan University in 2003 and became a chartered accountant in September, 2008. He has held multiple director, CFO and company secretary roles in the resources sector, most recently with Summit Minerals (ASX:SUM).
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