TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to reiterate high grade gold ("Au") and silver ("Ag") assays from results received from SGS Labs Canada ("SGS"). Internal QAQC review by TDG, working with Moose Mountain Technical Services ("MMTS"), is ongoing and therefore results are still considered preliminary. Drill results reported so far are from 7 of 51 completed diamond drillholes in 2021 at TDG's 100% owned former producing high grade gold-silver Shasta mine located in the historical Toodoggone Production Corridor of north-central B.C. TDG has also reported preliminary results from 3 of 6 historical holes drilled at Shasta in 2007 that were resampled by TDG in 2021
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TDG Gold Corp. Drills 95.5 Metres of 1.35 g/t Gold Equivalent North of Shasta Creek Zone, Shasta Mine, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the results of diamond drillhole SH21-006 from its 2021 drill program at TDG's former producing high-grade gold-silver Shasta Mine located in the historical Toodoggone Production Corridor of north-central B.C. Highlights include 95.5 metres ("m") of 0.98 grams per tonne ("g/t") gold ("Au") and 29 g/t silver ("Ag") [1.35 g/t AuEq*] from 27.5-123.0 m depth (see Table 1).
As with TDG's recently published drillholes from the 2021 Shasta drill program (see TDG news releases January 04, 2022 and January 11, 2022), drillhole SH21-006 demonstrates continuity of grade and mineralization along with confirmation of grades of the surrounding historical holes and validation of the expected dimensions of mineralized zone in that section of Shasta (Figure 1). An oblique cross-section is presented in this news release that spans the Creek, JM and Upper Creek Zones (Figure 3).
Drillhole SH21-006 represents the most northerly hole drilled at the Shasta Creek Zone target in the 2021 drill program and spanned the northern portion of the Creek Zone across to the northern portion of JM Zone. The drillhole trace started approximately 150 m north of the Creek Pit and ending approximately 300 m north of the JM Pit (Figure 1). The purpose of SH21-006 was to step out to the north of 2021 drilling and infill between historical drillholes, including SH89-40, SH89-41, SH89-55 and SH89-56 (et al.), highlights from which include 37.0 m of 1.84 g/t Au and 106 g/t Ag [3.16 g/t AuEq*] in SH89-40; and 12.3 m of 1.60 g/t Au and 120 g/t Ag [3.10 g/t AuEq*] in SH89-55 (see Table 2 for historical drillhole highlights).
Table 1. Significant Results from Hole SH21-006.
*Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length.
Drillhole SH21-006 intersected variably silicified, potassic-altered volcaniclastic rocks below the Shasta Fault (at 17.4 m) that carried a mineralized assemblage of dominantly pyrite and acanthite associated with quartz-carbonate veins, composite vein sets and breccias. Sulphide mineralization was identified as disseminated throughout and vein-vein selvage hosted Figure 2 presents the style and grade of typical mineralization encountered.
The northern portions of the Creek, JM and Upper Creek Zones represent areas for potential expansion of the Mineralized Target Zone at Shasta because historical drill holes in the vicinity neglected to sample near surface intervals and instead focused on visually identifying higher grades for assay in concert with typical cut-off grades at the time of mining (~ > 5 g/t Au). With further drilling, this area (Figure 1, and identified in Figure 3) has the opportunity to add minable tonnage to a Shasta resource (if defined) and decrease strip ratio in the vicinity as the closest historical underground workings are over 100 m to the west.
Figure 1. Plan view of the northern Shasta Creek Target Zone/JM Target Zone (Hole SH21-006).
Figure 2. Shasta drillhole SH21-006; mineralization encountered grading 1.46 Au g/t, 69 g/t Ag [2.32 g/t AuEq*] from 43.5 m to 46.5 m depth.
Figure 3. Oblique Cross Section of Shasta Creek/JM/Upper Creek Target Zone(s) (Hole SH21-006, and historical holes adjacent to 2021 drilling).
Table 2. Significant Results from Historical Holes Adjacent to SH21-006.
* "% Assayed" is the assayed portion of the drillhole in the historical database, compared to total drilled length
**Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio.
** Intervals are core-length weighted. True width from historical core is unknown.
All 2021 drill holes are HQ sized drill cores. Particulars for drill holes (location, depth, etc.)are presented in Table 3. Assay results for remaining 2021 drillholes are still pending at this time.
Table 3. Drillhole particulars.
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. 2021 Drill core was cut in half (1/2 HQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine site, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to SGS laboratory Burnaby, B.C. Core samples were prepared for analysis according to SGS method PRP89: dry samples to 105°C, crush to 75 % passing 2 mm, split 250 g, pulverize 85 % passing 75 microns. Samples were analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
Table 4. Au and Ag Analytical Methods
* Sample C00126417 returned > 1000 g/t Ag in over limit method GO_ICP42Q100, and is currently pending a second over limit using method GO_FAG37V. For purposes of this News Release, Sample C00126417 has been capped at 1000 g/t Ag, and is reflected in any calculations for composite interval purposes.
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone TDG's comprehensive QAQC investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
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TDG Gold Corp. Intercepts 76.71 g/t Gold and 1,725 g/t Silver 75 metres from Surface at Shasta, Toodoggone District, BC
A summary of high grade intercepts to date is highlighted below and detailed in Table 1.
- SH21-004: 21.6 g/t Au & 593 g/t Ag over 0.5 m
- SH21-005: 25.22 g/t Au & 1189 g/t Ag over 0.5 m
- SH21-006: 76.71 g/t Au & 1725 g/t Ag over 0.5 m
- SH21-008: 20.8 g/t Au & 582 g/t Ag over 0.5 m
…This sample was previously "capped" at 1,000 g/t Ag, pending overlimit analysis.
High grade gold-silver intercepts occur in proximity to the mineralizing structure(s), where intense silicification, potassic alteration and veining produce a hydrothermal breccia of host rocks. These high grade ‘pods' were the focus of historical mining and production efforts and are surrounded by significant widths of ‘halo'-style medium to lower grade mineralization, which TDG is incorporating in a bulk-mining scenario as part of working towards an open-pit NI 43-101 compliant mineral resource estimate. This mineralization style is characteristic of the low sulphidation epithermal deposits located within the Toodoggone District.
TDG's interpretation of results received to date is that the data provide corroborative evidence with the historical drilling at Shasta and confirms the presence of a mineralized breccia body at Shasta which extends over 400 metres ("m") from north to south at the Creek Zone with the potential for further mineralization at depth, to the north, south and east towards the JM Zone. Drill results the JM Zone are still pending along with drillholes testing for potential extension of the mineralization between the Creek and JM Zones, and also 700 metres to the south of the JM Pit at the Cayley-Rainier Zone.
In 2020-2021, TDG recompiled over 28,000 m of historical drilling at Shasta, which indicated less than 50% of the historical core had been assayed compared to the total length of the drillhole. Historical efforts were focused on the high grade pods and the material comprising the halo was left un-assayed. This information was used to target TDG's 2021 diamond drill program with the aims of validating the historical drillhole data, and testing extensions around the historical workings and mineralized target zones.
In total, TDG completed 8,048 m of diamond drilling (> 90% oriented core) at Shasta. This amount of oriented core data collected will enable Company geologists to understand vein/mineralization orientations and sequence different generations of mineralizing events, to better understand and target future endeavours. All holes were drilled within the Permitted Mine Area ("PMA") and covered approximately 60% of the known mineralized target zones at Shasta. In 2022, TDG expects to publish an inaugural NI 43-101 Mineral Resource Estimate for Shasta and to continue expanding the gold and silver mineralized footprint with subsequent drilling on and off the PMA, under a Notice of Work ("NoW") authorization, granted in 2021.
TABLE 1. High grade gold-silver intercepts from previously published diamond drillholes SH21-001 to SH21-008 and SH07-01 to SH07-003.
Drillhole | Depth From | Depth To | Length | Au | Ag | AuEq |
SH21-004 | 69.0 | 69.5 | 0.5 | 21.60 | 593 | 29.01 |
SH21-004 | 69.5 | 70.0 | 0.5 | 13.80 | 641 | 21.81 |
SH21-004 | 71.0 | 71.5 | 0.5 | 11.00 | 336 | 15.2 |
SH21-005 | 96.5 | 97.0 | 0.5 | 12.00 | 474 | 17.93 |
SH21-005 | 97.5 | 98.0 | 0.5 | 15.83 | 851 | 26.47 |
SH21-005 | 98.0 | 98.5 | 0.5 | 25.22 | 1189 | 40.08 |
SH21-006 | 28.0 | 28.5 | 0.5 | 5.70 | 558 | 12.68 |
SH21-006 | 51.5 | 52.0 | 0.5 | 13.39 | 847 | 23.98 |
SH21-006 | 98.5 | 99.0 | 0.5 | 76.71 | 1725 | 98.27 |
SH21-008 | 66.0 | 67.0 | 1.0 | 15.00 | 44.5 | 15.56 |
SH21-008 | 68.0 | 68.5 | 0.5 | 8.63 | 135 | 10.32 |
SH21-008 | 72.0 | 72.5 | 0.5 | 15.50 | 165 | 17.56 |
SH21-008 | 72.5 | 73.0 | 0.5 | 11.40 | 218 | 14.13 |
SH21-008 | 75.0 | 75.5 | 0.5 | 20.80 | 582 | 28.08 |
SH21-008 | 75.5 | 76.0 | 0.5 | 20.40 | 443 | 25.94 |
SH21-008 | 77.0 | 77.55 | 0.55 | 7.36 | 384 | 12.16 |
SH21-008 | 83.5 | 84.0 | 0.5 | 5.86 | 417 | 11.07 |
SH21-008 | 120.7 | 121.25 | 0.55 | 6.36 | 367 | 10.95 |
SH07-01 | 69.0 | 70.1 | 1.1 | 7.53 | 329 | 11.64 |
SH07-01 | 82.0 | 84.0 | 2.0 | 7.80 | 331 | 11.94 |
*Gold equivalent (AuEq) is used for illustrative purposes, to express the combined value of Au and Ag as a percentage of Au. Calculations are uncut and no allowances have been made to accommodate potential recovery losses that would occur in a mining scenario. AuEq is calculated using 80:1 silver to gold ratio.
** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length, and core recovery is calculated to be > 95 %
***Calculated composites/intercepts are truncated to 2 significant digits for Au/AuEq and the nearest whole number for Ag.
Previously published results from diamond drillholes SH21-001 to SH21-008 and resampled historical drillholes SH07-01 to SH07-003 (see news releases dated January 04, 2022, January 11, 2022 and January 24, 2022) were preliminary. All were drilled into the Shasta Creek Zone approximately ± 150 m from the historical Creek Pit. Results from these drillholes have been finalized by SGS's internal Data Quality Analysis (DQA) and all subsequent overlimit circuits are complete. TDG's internal QAQC is still underway, waiting for all results from the 51 completed drillholes to be compiled and laboratory performance verified. Final results will be published on TDG's website at that time. TDG is currently awaiting final assay results from 44 of the 51 diamond drillholes drilled at Shasta in 2021, and laboratory progress has been slowed by an unusual volume of samples submitted and the ongoing COVID-19 global pandemic. TDG expects to publish more results over the coming weeks.
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. The 2021 drill core was cut in half (1/2 HQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine site, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to the SGS laboratory in Burnaby, B.C. Samples were prepared and analyzed following procedures summarized in Table 2, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
TABLE 2. Au and Ag Analytical Methods
Drillhole | Prep | Method Au | Method Ag | Method Au- | Method Ag- |
SH07-001 | PRP89 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
SH21-004 | PRP89 | GO_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
SH21-005 | PRP89 | GO_FAI50V10 | GE_IMS40Q12 | GO_FAG37V | GO_ICP42Q100 |
SH21-006* | PRP89 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
SH21-008 | PRP89 | GO_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
* Samples returning > 1000 g/t Ag in overlimit method GO_ICP42Q100, utilized a second overlimit method: GO_FAG37V.
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone TDG's comprehensive QAQC investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: TDG Gold Corp.
View source version on accesswire.com:
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TDG Gold Corp. Samples Up To 32.9 g/t And 27.6 g/t Gold at Mets, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the results of the 2021 exploration program at its former producing high-grade gold Mets Mining Lease located in the road accessible Toodoggone Production Corridor of north-central, B.C. Highlights include grab samples yielding 32.90 grams per tonne ("gt") gold ("Au") and 27.61 gt Au collected from locations of known historical drill collars (Table 1
TDG's Mets Mining Lease consists of 200 hectares located 23 kilometres ("km") by road from TDG's Baker Mine (Figure 1). A summary of historical exploration work completed at Mets was published by TDG in its news release dated May 19, 2021 (here). TDG has recompiled 7,944 metres ("m") of diamond drilling of the 8,784 m reported to have been drilled historically, along with review of the 2,622 m of historical trenching. Historical drill highlights include DDH MT86-08 which intersected 25.9 m of 9.52 g/t Au and MT86-05 intersecting 46.4 m of 3.57 g/t Au (including 11.8 m of 13.93 g/t Au).
Figure 1. Location of TDG's road accessible Mets Mining Lease 23 km northwest of TDG's Baker Mine.
In 2021, TDG completed a ground-based magnetometer survey consisting of 25 line-km that has highlighted several trends (Figure 2), in addition to geological grab sampling over historical collar locations (Figure 3).
Ground Magnetometer Survey Results
Using GEMS Overhauser 19W magnetometer units, a total of 25 line-km of ground-based magnetometer surveys were completed in 2021 on Mets. Magnetic data imagery highlighted several trends, interpreted by Company geologists to coincide with the historically trenched and drilled tested mineralization trend, defined by quartz ± quartz-barite veining, is part of a gold-silver bearing low sulphidation epithermal vein.
Historical trenching and drilling coincide with the A-Zone / Mets Structure. The structure is characterized as a magnetic low lineament in the 2021 magnetic survey. Figure 2 displays the respective historical drill intercepts with respect to the 2021 Total Magnetic Intensity ("MAG TMI").
Figure 2. Mets Historic Drilling And 2021 Magnetic TMI Imagery.
Grab Sampling Results
Select grab sampling was completed by Company geologists while completing general reconnaissance of the historically producing Mets property. Samples were selected based on the proximity to historical trenches and drillhole collars, targeting the quartz ± quartz-barite veins. Highlights include grab samples yielding 32.90 grams per tonne ("g/t") gold ("Au") and 27.61 g/t Au.
Table 1: 2021 Mets Rock Sample Results - Gold ("Au"), Silver ("Ag").
Sample ID | Easting | Northing | Au (g/t) | Ag (g/t) |
C00125601 | 600172 | 6367207 | 0.20 | |
C00125602 | 600110 | 6367269 | 1.85 | |
C00125603 | 600056 | 6367432 | 32.90 | 1.74 |
C00125604 | 599951 | 6367497 | 0.050 | 0.48 |
C00125605 | 599965 | 6367521 | 0.040 | 0.23 |
C00125606 | 599976 | 6367540 | 0.15 | |
C00125607 | 600033 | 6367549 | 0.14 | |
C00125608 | 600051 | 6367518 | 0.13 | |
C00125609 | 600058 | 6367494 | 0.62 | |
C00125610 | 600107 | 6367556 | 0.59 | |
C00125262 | 600053 | 6367326 | 4.25 | 0.42 |
C00125263 | 600064 | 6367362 | 27.61 | 7.25 |
Figure 3. Mets Historic Drilling and 2021 Rock Sampling Results.
Methodology
Select Grab Sampling: Data for geological field samples include: mineralogy, texture, alteration, and/or structure, and is located using a Garmin GPS64. Field notes are recorded in a field book and/or tablet computer. A rock hammer is used to separate the sample from its exposure and placed into a polyurethane bag with unique sample tag is place in the respective bag and secured using a zip-tie, and subsequently placed in security-sealed rice bags. The respective samples are then shipped as a batch to a third-party lab.
Magnetometer: The survey was conducted using GSM-19W Overhauser "Walking" magnetometers and a stationary GSM-19T Proton "Base Station" unit. "Walking" magnetometers recorded in situ magnetic field intensity while the "Base Station" recorded diurnal variations in the regional magnetic field during the survey. Positioning data was provided by handheld Garmin GPS64 units which were carried by each instrument operator in the field.
Following the completion of the survey, a set of corrections and Quality Assurance / Quality Control ("QA/QC") procedures were applied to the magnetic data, including diurnal correction, low-pass noise reduction, and individual operator leveling. After this QA/QC process was completed, the data was interpolated using industry-standard Golden Surfer 12 software. After interpolation, high-resolution Total Magnetic Intensity ("TMI") imagery was exported as a georeferenced TIFF image with matching contour shapefile.
QA/QC
Samples were submitted to SGS Canada's ("SGS") laboratory facility in Burnaby, B.C., following a chain of shipping custody from TDG to SGS, for preparation and analysis. The SGS facility is accredited to the ISO/IEC 17025 standard for gold assays, and all analytical methods include internal quality control materials at set frequencies with established data acceptance criteria. As a result of SGS' rigorous internal QA/QC protocols, TDG did not submit external (blind) QA/QC materials, using a ‘fit for purpose' approach with the analytical data. Samples were analyzed following the procedures summarized in Table 2, where more information about methodology can be found on the SGS website, in the analytical guide (here).
Table 2: Au and Ag Analytical Methods.
SGS | Sample | Collected | Prep | Prep | Prep | Method | Method |
Certificate | ID | Weight (kg) | Dry | Crush | Pulverize | Au | Ag |
BBM21-11672 | C00125601 | 1.95 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125602 | 1.35 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125603 | 1.85 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125604 | 2.35 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125605 | 1.52 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125606 | 1.61 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125607 | 1.48 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125608 | 2.10 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125609 | 2.38 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125610 | 2.55 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125262 | 2.00 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
BBM21-11672 | C00125263 | 1.00 | DRY105_WT | CRU12-15,22 | PUL85 | GOFAI50V10 | GE_IMS40Q12 |
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE:TDG Gold Corp.
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TDG Gold Corp. Announces Anticipated Termination of the Nueva Esperanza Acquisition
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") advises that TDG has notified Kingsgate Consolidated Limited ("Kingsgate") that it anticipates that certain conditions precedent to the acquisition ("Acquisition") of the "Nueva Esperanza" silver-gold project pursuant to the terms of the definitive agreement (the "Agreement") between the Company and Kingsgate will not be fulfilled prior to the outside date for completion of the Acquisition on January 31, 2022, and therefore TDG anticipates that it will terminate the Agreement on such date
The results from TDG's 2021 exploration and drill programs on its project portfolio in the Toodoggone Production Corridor have exceeded the Company's expectations and the Company intends to now focus 100% of its efforts there.
With the substantial increase in geological knowledge gained from the 2021 exploration and drill programs, the Company is very confident of further expanding the known mineralization and discovering additional new deposits on the Toodoggone project. The results of the 2021 exploration and drill programs are still being received and analyzed, and the Company will be announcing such results during the first quarter of 2022.
The results of the 2021 programs will guide the 2022 exploration and drilling programs at the Toodoggone project, which will be funded by the proceeds from the sale of flow-through units as announced in the Company's press releases dated December 17, December 23 and December 30, 2021.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981 and 2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Forward looking statements in this press release include the Company's plans with respect to further exploration of its mineral properties. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE: TDG Gold Corp.
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TDG Gold Corp. Drills 38.0 metres of 3.04 g/t Gold and 101 g/t Silver at Shasta Creek North, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce drill results from drillholes SH21-007 and SH21-008 from its 2021 diamond drill program with both holes drilled approximately 150 metres ("m") north of the historical Shasta Creek Zone open pit. Drill intercepts include 38.0 m of 3.04 grams per tonne ("gt") gold ("Au") with 101 gt silver ("Ag") [4.30 gt AuEq*] in drillhole SH21-008. Assay results were received directly from SGS Canada Inc. ("SGS") from TDG's Shasta project which is located in the Toodoggone District of north-central B.C. Results have been received directly from SGS Canada Inc. ("SGS") and whilst SGS has completed its QAQC protocols for these results, a comprehensive internal Data Quality Analysis ("DQA") by TDG is still underway with subsequent assay results from the Shasta project still pending. Therefore, the results for the purposes of this news release are still considered preliminary
The northern section of TDG's Shasta project consists of the northerly portions of the Creek and JM Zones and also the Upper Creek Zone. Collectively, these zones at Shasta represent an opportunity to explore and evaluate the continuity and grade of the historical ore body in an area that was under-explored. The 2021 drilling in this area was designed to step west from the Shasta Fault, test underneath the historical mine workings and confirm the grade of mineralization reported from historical results as part of data validation in anticipation of the Mineral Resource Estimate work underway by Moose Mountain Technical Services. Results presented here are for SH21-007 and SH21-008 (Table 1).
Table 1. Significant Results from Holes SH21-007 & SH21-008.
Hole | From | To | Length | Au | Ag | AuEq* |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | |
SH21-07 | 67.6 | 106.0 | 38.4 | 0.71 | 32 | 1.11 |
SH21-08 | 66.0 | 104.0 | 38.0 | 3.04 | 101 | 4.30 |
including | 72.0 | 79.0 | 7.0 | 7.90 | 220 | 10.64 |
SH21-08 | 116.0 | 126.0 | 10.0 | 0.82 | 34 | 1.25 |
*Gold equivalent ("AuEq") calculated using 80:1 silver to gold ratio. | ||||||
** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length. |
Historically, drilling and mining was concentrated adjacent to the Shasta Fault, and the entirety of core was not sent for assay analysis. Holes drilled in 2021 within the northern section of the Shasta project consisted of infill drilling between historical holes and to test continuity of mineralization to the north (Figure 1). Select historical results are presented in Table 2 and a cross-section in Figure 2. Results are still pending for 2021 drillholes SH21-006, SH21-013, SH21-017, SH21-019, SH21-021 and SH21-023; and also for re-assays of the 2007 drillholes SH07-13, SH07-14 and SH07-15.
SH21-007 and SH21-008 both intersected the Shasta Fault at the predicted depth. As reported in TDG's news release of September 28, 2021 (see here), the footwall to the fault encountered a broad zone of silicified volcaniclastics with stockwork quartz veining, strong pervasive potassic alteration with a sulphide assemblage comprised of pyrite, chalcopyrite and acanthite, a package of host rocks, mineralization and alteration typical of the Shasta mineralization seen in historical holes.
Figure 1. Plan view of the northern Shasta Creek Zone (Holes SH21-007 & SH21-008).
Table 2. Significant Results from Historical Holes Adjacent to SH21-007 & SH21-008.
Hole | From | To | Length | Au | Ag | AuEq** |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | |
SH89-040 | 71.0 | 108.0 | 37.0 | 1.84 | 106 | 3.16 |
SH89-045 | 109.6 | 138.7 | 29.1 | 0.77 | 37 | 1.23 |
SH89-039 | 56.0 | 67.0 | 11.0 | 0.85 | 42 | 1.37 |
SH91-011* | 41.8 | 44.8 | 3.1 | 0.10 | 6 | 0.18 |
SH91-012* | 46.3 | 63.1 | 16.8 | 0.51 | 18 | 0.73 |
SH87-010 | 14.2 | 84.0 | 69.8 | 0.74 | 39 | 1.22 |
*The only assayed core. | ||||||
**Gold equivalent ("AuEq") calculated using 80:1 silver to gold ratio. | ||||||
** Intervals are core-length weighted. True width from historical core is unknown. |
Figure 2. Cross-section of 6,347,550 N (Holes SH21-007 & SH21-008).
All 2021 drill holes are HQ sized drill cores. Particulars for drill holes (location, depth, etc.)are presented in Table 3. The geology of the 2021 drill holes described in TDG's September 28, 2021 news release… (here). Assay results for remaining 2021 drillholes and 2007 re-assays are still pending at this time.
…Note, in TDG's September 28, 2021 news release, drillholes SH21-007 and SH21-008 were mis-plotted, which has been corrected in this news release. This error does not materially change the content of either news release.
Table 3. Drillhole particulars.
HOLE | UTME (NAD83) | UTMN (NAD83) | Azimuth(°) | Dip(°) | Final Depth (m) |
SH21-007 | 620,855 | 6,347,565 | 90 | -60 | 151 |
SH21-008 | 620,855 | 6,347,565 | 60 | -60 | 204 |
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to an SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. 2021 Drill core was cut in half (1/2 HQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to SGS laboratory Burnaby, B.C. 2007 drill core was split (mechanically). Core samples were prepared for analysis according to SGS method PRP89: dry samples to 105°C, crush to 75 % passing 2 mm, split 250 g, pulverize 85 % passing 75 microns.
Samples were analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
Table 4. Au and Ag Analytical Methods.
Certificate | Hole | Method Au | Method Ag | Method Au-Overlimit | Method Ag-Overlimit |
BBM21-13116 | SH21-07 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_FAG37V |
BBM21-13135 | SH21-07 | GO_FAI50V10 | GE_IMS40Q12 | N/A | N/A |
BBM21-12566 | SH21-08 | GE_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
BBM21-12567 | SH21-08 | GE_FAI50V5 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-12578 | SH21-08 | GE_FAI50V5 | GE_IMS40Q12 | N/A | N/A |
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone SGS internal QAQC or TDG's DQA investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
This news release includes historical drilling information that has been reviewed by the Company's geological team. The Company's review of the historical records and information reasonably substantiate the validity of the information presented in this news release; however, the Company cannot directly verify the accuracy of the historical data, including the procedures used for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution when evaluating these results. Further data review is underway, in order to verify the validity of the data for the anticipated NI 43-101 compliant mineral resource estimate.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE:TDG Gold Corp.
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TDG Gold Corp. Drills 29.0 Metres of 1.78 G/T Gold and 89 G/T Silver at Shasta Creek Zone, Toodoggone, B.C.
TDG Gold Corp. (TSXV:TDG) (the "Company" or "TDG") is pleased to announce the first composite drill results from its 2021 Shasta diamond drill campaign which include 29.0 metres ("m") of 1.78 grams per tonne ("gt") gold ("Au") with 89 gt silver ("Ag") [2.89 gt AuEq**] in drillhole SH21-005 and 33.5 m of 1.03 gt Au with 41 gt Ag [1.53 gt AuEq**] in drillhole SH21-004 - both within the Shasta Creek Zone south of the historical workings at TDG's Shasta project located in the Toodoggone District of north-central B.C. Included in this update are the over-limit assay results from drillholes SH21-004 and SH21-005 which were unavailable in TDG's November 29, 2021 news release (see here) along with results from drillholes SH21-001, SH21-003 and historical 2007 drillholes re-assayed in 2021 (SH07-001 and SH07-002). Results have been received directly from SGS Canada Inc. ("SGS") and whilst SGS has completed its QAQC protocols for these results, a comprehensive internal Data Quality Analysis ("DQA") by TDG is still underway with subsequent assay results from the Shasta project still pending. Therefore the results for the purposes of this news release are still considered preliminary
With the additional assay information from drillholes SH21-004, SH21-005 and the 2007 drillholes, cross section 6,347,280 N (see Figure 2) was constructed offering a more comprehensive understanding of the Shasta Fault system, the high-grade pods of mineralization in proximity to the fault, and the ‘halo' of Au-Ag mineralization adjacent the high-grade pods. This was previously under-tested by historical exploration and mining efforts. In addition, the updated over-limit assays from holes SH21-004 and SH21-005 provide true length-weighted composite grades through mineralized intersections, where Au-Ag grades were previously underrepresented by the upper limits of prior analysis.
Table 1 presents (below) precious metal concentrations with yellow highlighted values updated from the November 29, 2021, news release for drillholes SH21-004 and SH21-005.
Table 1. Updated select intervals of previously published preliminary assay results.
Hole | Depth From (m) | Depth To (m) | Width (m) | Au (g/t) | Ag (g/t) |
SH21-004 | 69 | 69.5 | 0.5 | 21.60 | 593 |
SH21-004 | 69.5 | 70 | 0.5 | 13.80 | 641 |
SH21-004 | 70 | 70.5 | 0.5 | 0.88 | 33 |
SH21-004 | 70.5 | 71 | 0.5 | 0.30 | 9 |
SH21-004 | 71 | 71.5 | 0.5 | 11.00 | 336 |
SH21-004 | 72 | 72.5 | 0.5 | 0.79 | 39 |
SH21-004 | 73 | 73.5 | 0.5 | 0.75 | 45 |
SH21-005 | 62 | 62.5 | 0.5 | 1.62 | 66 |
SH21-005 | 62.5 | 63 | 0.5 | 6.18 | 153 |
SH21-005 | 63 | 63.5 | 0.5 | 5.36 | 79 |
SH21-005 | 95 | 95.5 | 0.5 | 2.79 | 160 |
SH21-005 | 95.5 | 96 | 0.5 | 4.36 | 257 |
SH21-005 | 96 | 96.5 | 0.5 | 1.21 | 51 |
SH21-005 | 96.5 | 97 | 0.5 | 12.00 | 474 |
SH21-005 | 97 | 97.5 | 0.5 | 3.06 | 147 |
SH21-005 | 97.5 | 98 | 0.5 | 15.83 | 851 |
SH21-005 | 98 | 98.5 | 0.5 | 25.22 | 1,189 |
SH21-005 | 98.5 | 99 | 0.5 | 0.99 | 41 |
2021 drillholes are HQ and 2007 drillholes are NQ size drill cores and are located in the Shasta Creek Zone vicinity (Figure 1). Particulars for drillholes (location, depth, etc.)are presented in Table 2, and mineralization and geology is described in TDG's November 29, 2021 news release for the Shasta Creek Zone vicinity.
Figure 1. Plan view of Shasta Creek Zone (drillholes SH21-004, SH21-005, SH07-01, SH07-02).
Table 2. Drillhole particulars.
HOLE | UTME (NAD83) | UTMN (NAD83) | Azimuth(°) | Dip(°) | Final Depth (m) |
SH07-01 | 620,979 | 6,347,294 | 90 | -45 | 102 |
SH07-02 | 620,957 | 6,347,281 | 90 | -45 | 127 |
SH21-01 | 620,951 | 6,347,350 | 90 | -45 | 72 |
SH21-03 | 620,893 | 6,347,330 | 90 | -60 | 109 |
SH21-004 | 620,902 | 6,347,281 | 90 | -45 | 130 |
SH21-005 | 620,902 | 6,347,281 | 115 | -70 | 127 |
Table 3 presents the significant intervals for the mentioned drillholes, and Figure 2 presents a schematic cross section of drillholes SH21-004, SH21-005, SH07-01 and SH07-02 illustrating the relationship between the high-grade pods of mineralization and the halo of significant intervals adjacent to the high-grade mineralization.
Table 3. Significant Intervals.
Hole | From | To | Length | Au | Ag | AuEq** |
(m) | (m) | (m) | (g/t) | (g/t) | (g/t) | |
SH07-01 | 58.2 | 102.7 | 44.5 | 0.86 | 41 | 1.37 |
including | 69.0 | 74.0 | 5.0 | 2.22 | 109 | 3.58 |
and | 80.0 | 86.0 | 6.0 | 3.14 | 131 | 4.77 |
SH07-02 | 71.0 | 103.7 | 32.7 | 0.48 | * | * |
SH21-01 | 19.0 | 29.0 | 10.0 | 0.32 | 32 | 0.72 |
including | 21.2 | 24.5 | 3.3 | 0.49 | 49 | 1.11 |
SH21-03 | 55.0 | 78.5 | 23.5 | 0.61 | 57 | 1.28 |
including | 61.0 | 62.5 | 1.5 | 2.13 | 302 | 5.91 |
and | 64.0 | 66.5 | 2.5 | 1.71 | 113 | 3.12 |
and | 71.0 | 72.5 | 1.5 | 1.32 | 137 | 3.03 |
SH21-03 | 90.5 | 103.5 | 13.0 | 0.82 | 61 | 1.59 |
including | 92.0 | 95.0 | 3.0 | 1.67 | 109 | 3.03 |
and | 96.5 | 98.0 | 1.5 | 1.81 | 189 | 4.17 |
SH21-04 | 63.5 | 65.0 | 1.5 | 1.33 | 6 | 1.40 |
SH21-04 | 69.0 | 102.5 | 33.5 | 1.03 | 41 | 1.53 |
including | 69.0 | 73.5 | 4.5 | 6.45 | 224 | 9.26 |
SH21-05 | 62.0 | 68.0 | 6.0 | 2.25 | 40 | 2.76 |
including | 62.0 | 63.5 | 1.5 | 4.39 | 99 | 5.63 |
SH21-05 | 92.0 | 121.0 | 29.0 | 1.78 | 89 | 2.89 |
including | 95.0 | 99.0 | 4.0 | 8.18 | 396 | 13.14 |
and | 101.5 | 105.5 | 4.0 | 1.88 | 88 | 2.98 |
* Silver results pending re-analysis. | ||||||
** Gold equivalent (AuEq) calculated using 80:1 silver to gold ratio. | ||||||
*** Intervals are core-length weighted. True width is estimated between 75 to 95 % of core length. |
Figure 2. Cross section of Shasta Creek Zone (holes SH21-004, SH21-005, SH07-01, SH07-02). Results from SH21-030 are still pending.
QA/QC
Samples for the Shasta 2021 drill program followed chain of custody between collection, processing and delivery to a SGS laboratory in Burnaby, B.C. The drill cores were delivered to the core shack at TDG's Baker Mine site, and processed by geologists who inserted certified reference materials, blanks and duplicates (pulp and coarse) into the sampling sequence. The 2021 drill core was cut in half (1/2 HQ core) and 2007 drill core was split (1/2 NQ core) and placed in zip-tied polyurethane bags, then in security-sealed rice bags before being delivered directly from the Baker Mine site, to Bandstra Transportation Systems in Prince George, B.C., and ultimately to SGS laboratory Burnaby, B.C. Core samples were prepared for analysis according to SGS method PRP89: dry samples to 105°C, crush to 75 % passing 2 mm, split 250 g, pulverize 85 % passing 75 microns.
Samples were analyzed following procedures summarized in Table 4, where information about methodology can be found on the SGS Canada Website, in the analytical guide (here).
Table 4. Au and Ag Analytical Methods.
Certificate | Hole | Method Au | Method Ag | Method Au-Overlimit | Method Ag-Overlimit |
BBM21-13014 | SH07-01 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-13343 | SH07-02 | GO_FAI50V10 | GE_IMS40Q12 | N/A | N/A |
BBM21-12204 | SH21-001 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-12205 | SH21-003 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
BBM21-12561 | SH21-004 | GE_FAI50V5 | GE_IMS40Q12 | GO_FAG50V | GO_ICP42Q100 |
BBM21-12603 | SH21-004 | GE_FAI50V5 | GE_IMS40Q12 | N/A | N/A |
BBM21-12562 | SH21-005 | GO_FAI50V10 | GE_IMS40Q12 | GO_FAG37V | GO_ICP42Q100 |
BBM21-12759 | SH21-005 | GO_FAI50V10 | GE_IMS40Q12 | N/A | GO_ICP42Q100 |
Quality assurance and control ("QAQC") is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program was administered by TDG Gold through the use of certified reference materials ("CRMs"), duplicate samples and blank samples that were blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested. For the purposes of this press release, results are ‘preliminary' and thus have not undergone SGS internal QAQC or TDG's DQA investigations.
Qualified Person
The technical content of this news release has been reviewed and approved by Steven Kramar, MSc., P.Geo., a qualified person as defined by National Instrument 43-101.
About TDG Gold Corp.
TDG is a major mineral claim holder in the historical Toodoggone Production Corridor of north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities under direct ownership or earn-in agreement. TDG's flagship projects are the former producing, high-grade gold-silver Shasta, Baker and Mets mines, which are all road accessible, produced intermittently between 1981-2012, and have over 65,000 m of historical drilling. In 2021, TDG has advanced the projects through compilation of historical data, new geological mapping, geochemical and geophysical surveys, and, for Shasta, drill testing of the known mineralization occurrences and their extensions. The Company has entered into a binding agreement to acquire the Nueva Esperanza silver-gold advanced exploration and development project located in the Maricunga Belt of northern Chile, subject to closing conditions being satisfied. TDG currently has 78,361,085 common shares issued and outstanding.
ON BEHALF OF THE BOARD
Fletcher Morgan
Chief Executive Officer
For further information contact:
TDG Gold Corp.,
Telephone: +1.604.536.2711
Email: info@tdggold.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans to continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
SOURCE:TDG Gold Corp.
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Takeover Offer for Mako Gold Limited – Share Offer Unconditional and Status of Offers Conditions
Aurum Resources Limited (ASX: AUE) (Aurum) refers to its off-market takeover offer to acquire all of the ordinary shares (Share Offer) and certain options (Option Offers) in Mako Gold Limited (ASX:MKG) (Mako) pursuant to its bidder’s statement dated 30 October 2024 (as supplemented or replaced from time to time) (Bidder’s Statement).
HIGHLIGHTS
- Aurum declares its takeover offer for all the shares in Mako Gold Limited unconditional
- Aurum currently has a relevant interest in Mako of 39.86%
- The Share Offer and Option Offers are due to close at 7.00pm (Sydney time) on 4 December 2024
- The Mako directors have unanimously recommended that Mako Shareholders and Mako Optionholders accept the Offers in the absence of a Superior Proposal and have already accepted into the Offers
- Aurum urges all remaining Mako Shareholders and Mako Optionholders to accept the Offers without delay
The Share Offer is to acquire all Mako Shares for the consideration of one (1) Aurum Share for every 25.1 Mako Shares held and will extend to Mako Shares issued during the Offer Period as a result of the conversion of Mako convertible securities.
The Option Offers are to acquire Mako Options on the basis of:
- one (1) Aurum Share for every 248 Mako January 2025 Options held; and
- one (1) Aurum Share for every 170 Mako June 2025 Options held.
FREEING THE SHARE OFFER OF CONDITIONS
Having reached a relevant interest of 39.86% in Mako, Aurum is pleased to declare the Share Offer unconditional and free of all defeating conditions as set out in section 13.8 of the Bidder’s Statement.
OFFERS CONDITIONS
The Share Offer is wholly unconditional.
The Option Offers remain subject to all defeating conditions in section 14.9 of the Bidder’s Statement. None of the defeating conditions in section 14.9 of the Bidder’s Statement have been fulfilled or waived.
RECOMMENDED OFFERS
The Mako directors have unanimously recommended that remaining Mako Shareholders and Mako Optionholders accept Aurum’s Offers without delay, in the absence of a Superior Proposal. Given its current relevant interest in Mako, Aurum believes it is unlikely that a Superior Proposal will eventuate.
Click here for the full ASX Release
This article includes content from Aurum Resources Limited, 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.
Top 10 Gold Reserves by Country
Gold is one of the most important metals on the planet. For millennia it has been used in jewelry, art and currency, capturing the collective imagination as a thing of wonder. Gold's association with royalty and wealth has inspired explorers and treasure hunters alike, who put themselves at risk for a chance to strike it rich.
Today, gold's hold on us as a precious metal is no less powerful. Still used for jewelry and as a store of wealth, the metal also has a variety of modern industrial and electronic applications.
Even though gold seems to be everywhere, in reality it's a finite resource. Only 244,000 metric tons of gold have ever been mined, and two-thirds of that has been extracted since 1950. Comparing that amount to the more than 700 million metric tons of copper that have been pulled from the ground provides an idea of how precious a resource gold truly is.
For investors interested in the yellow metal and the companies that mine it, it’s important to understand global gold reserves. This data can provide critical information on the long-term viability of supply and which countries have room to grow.
This article uses the most recent data from the US Geological Survey, which uses metric tons for its figures. As gold is often measured and discussed in ounces, this article will contain a mix of the two measurements. To add some perspective, 1 metric ton of gold is equal to 35,274 ounces — this means at the recent gold price of US$2,600 per ounce, 1 metric ton is over US$92 million worth of gold.
According to the US Geological Survey, identified economic gold reserves currently stand at just 59,000 metric tons globally. Read on to learn the top 10 gold producers by country.
1. Australia
Gold reserves: 12,000 metric tons
Outsized is one way to describe Australia. The sixth largest country by land area, it has the most gold reserves of any nation, coming in at 12,000 metric tons. Australia has been going through somewhat of a modern boom and has been consistent in producing more than 300 metric tons of gold every year since 2017. Over 60 percent of its gold deposits are in Western Australia.
In 2023, Australia's Newcrest Mining merged with rival Newmont (TSX:NGT,NYSE:NEM) to form the largest gold mining company in the world. Under its banner it controls the two largest gold mining operations in Australia, Boddington and Cadia.
2. Russia
Gold reserves: 11,100 metric tons
Russia has the largest land area of any country, and unsurprisingly is among the top countries for gold reserves. It boasts an impressive 11,100 MT, up from the 6,800 metric tons it had at the end of 2022. Russia’s output was steady in 2023 with 310 MT extracted.
Polyus operates four of the country's five largest mines, including the Olimpiada open-pit mine in Russia’s Krasnoyarsk region.
Despite steady production, Russian gold is having difficulties reaching most markets following the country's invasion of Ukraine. The London Bullion Market Association halted trading and removed Russian refiners from its accredited list in March 2022. However, a significant portion of the metal was exported to the United Arab Emirates following the sacntions, according to Reuters, and Russian gold has also made its way into the country's stockpiles.
3. South Africa
Gold reserves: 5,000 metric tons
South Africa remains a powerhouse in terms of global gold reserves, and the country's Witwatersrand Basin is among the top gold jurisdictions in the world. However, while South Africa remains comfortably in the top three countries for reserves with 5,000 metric tons, the country has lost some of its luster when it comes to production. At the turn of the century, South Africa was the top gold-producing country, with 431 metric tons extracted in 2000. The country's output has slowly fallen in the decades since though, and has hit all-time lows in recent years — South Africa extracted just 100 metric tons in 2023.
One reason for lowered production is decreasing gold grades, which have led miners operating in the country to move to greater depths. In fact, as of 2019, eight of South Africa's gold mines were among the 10 deepest mines for any commodity, with AngloGold Ashanti's (NYSE:AU,JSE:ANG) Mponeng gold mine topping the list at 2.4 kilometers to over 3.9 kilometers below surface. This has made industrial mining operations prohibitively expensive and more dangerous.
Other factors negatively affecting the mining sector are constant power outages in recent years and limited investment in exploration outside the Witwatersrand Basin.
4. United States
Gold reserves: 3,000 metric tons
Gold reserves in the US have remained steady at 3,000 metric tons since 2012. The country is home to well-developed infrastructure, highly experienced companies and an advanced workforce. However, over the last decade, production and refinement of the yellow metal in the US has been in decline, dropping from 230 metric tons in 2012 to 170 metric tons in 2023.
One of the largest operations in the country is Nevada Gold Mines (NGM), a joint venture between Barrick Gold (TSX:ABX,NYSE:GOLD) and Newmont. NGM includes three of the largest gold mines in the world: Goldstrike, Carlin and Cortez.
5. China
Gold reserves: 3,000 metric tons
China's importance as a gold miner has been growing over recent year and made significant gains, moving from number nine on our list with 1,900 metric tons in 2022, to number five with 3,000 metric tons in 2023. Additionally, China's output has been the strongest of the top ten producing 370 metric tons of gold last year.
While some deposits have been found in the western part of the country, the largest operations are in Shandong, which is home to the largest find in the country: the Xiling mine. Xiling, which is owned by Shandong Gold Group (SHA:600547), contains more than 580 metric tons of gold in reserves. The mine is expected to process 10,000 metric tons of ore per day for the next 30 years.
In addition to its mining output, China has also been driving the price of gold over the past couple years with significant purchases by the People's Bank of China which now holds an estimated 2,264 metric tons of gold.
6. Indonesia
Gold reserves: 2,600 metric tons
Home to remote mining sites and enormous reserves, Indonesia is a destination for gold companies looking to stake a claim.
The country is home to the Grasberg complex, one of the world's largest gold operations and host to 23.9 million recoverable gold ounces. Operated by Freeport-McMoRan (NYSE:FCX), Grasberg includes several underground mines and the Kucing Liar deposit, which is currently being developed.
Once Kucing Liar is operational, Freeport expects it to deliver an additional 520,000 ounces of gold per year for 6 million total ounces between 2029 and 2041.
7. Brazil
Gold reserves: 2,400 metric tons
Home to the first modern gold rush over 300 years ago, Brazil has an undeniable history with the precious metal. The country currently has 2,400 metric tons of reserves, although it extracted only 60 metric tons in 2023.
Companies like G Mining Ventures (TSXV:GMIN,OTCQX:GMINF) with its Tocantinzinho asset may boost Brazil’s gold position in the years to come.
Much like Peru below, gold mining in Brazil has a darker side as well. Illegal operators, many of which have found their into mining through social media sites like YouTube and TikTok, are impacting both sensitive rainforest ecosystems and local Indigenous communities. Despite government crackdowns, new operations continue to pop up throughout the Amazon.
8. Peru
Gold reserves: 2,300 metric tons
Gold has been an important part of Peru’s economy for centuries. The country has a well-documented mining industry, and it ranks as one of the top nations in the world when it comes to gold reserves. Between 2012 and 2022, Peru increased its gold reserves from 2,000 metric tons to 2,900 metric tons, but saw a fall off in 2023 with just 2,300 metric tons.
During this time, production fell from 160 metric tons to 90 metric tons. This fall was due to a combination of factors, including increased regulation to combat illegal operations, instability in the country and COVID-19 restrictions.
Large players make up the bulk of Peru's gold industry, with major miner Newmont leading the way at Yanacocha, the biggest gold mine in Peru. There are also artisanal operations in the country, along with operations being run by criminal organizations. While environmental concerns are common in the mining industry, illegal and small-scale gold miners often employ mercury during the extraction process, which is very damaging to the environment.
To counteract illegal mining operations, the Peruvian government instituted Operation Mercury in 2019, which involved military interventions at illegal mine sites and the destruction of mining operations. For small-scale and artisanal mining, programs such as the Fairmined Ecological Gold certification exist to encourage environmentally friendly mining methods by introducing premium prices for gold that meets particular requirements. This also allows gold buyers to identify gold from legal operations that reduce the use of toxic treatments like mercury during the extraction process.
9. Canada
Gold reserves: 2,300 metric tons
Canada has a rich history of gold mining since the metal was first discovered in Québec in the early 1800s. Mining operations can now be found across Canada, but more than 70 percent of the country's gold is produced in Ontario and Québec. Other significant producers are BC with 9 percent, the Yukon with 4 percent and Manitoba with 2 percent.
Canada’s gold reserves have remained constant since 2012 and currently sit at 2,300 metric tons. However, the country has more than doubled its gold output in that time, jumping from 97 metric tons in 2012 to 200 metric tons in 2023.
Because of its well-established natural resource sector, Canada is leading the way in sustainable initiatives to protect the environment and communities. The Mining Association of Canada’s Toward Sustainable Mining initiative has been adopted by organizations around the world, including those in Finland, Brazil and the Philippines.
10. Uzbekistan
Gold reserves: 1,800 metric tons
Even though the first gold mine in Uzbekistan began operating in the 1960s, it’s only recently that the country has begun to develop its resources. After gaining independence from the Soviet Union in 1991, the mining industry in Uzbekistan was in disarray, and most mining projects had stalled. Production hit a low of 65 metric tons per year in the mid-1990s, but since 2020 output has nearly doubled to 100 metric tons per year.
Most of Uzbekistan's gold is mined at the massive state-owned Muruntau gold mine in the Qizilqum Desert. This open-pit mine is calculated to hold more than 4,000 MT in total reserves.
Economically, gold is one of Uzbekistan's most important exports, generating US$3.42 billion during the first quarter of 2024.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
A Guide to Investing in Physical Gold (Updated 2024)
Gold is known as an attractive safe-haven investment and has been used to store wealth during volatile times through history.
It has interesting currency-like tendencies, and retains its purchasing power better than paper currencies.
For that reason, gold market analysts typically recommend that investors build a diversified portfolio with a portion of their wealth in gold bullion. Here the Investing News Network explains what's involved in building and managing a physical gold portfolio.
In this article
- What physical gold product is best to buy?
- What is the difference between the gold spot price and retail price?
- Where can investors buy physical gold?
- How and when to sell physical gold?
- How should physical gold be stored?
- Is it possible to purchase physical gold through the futures market?
- What are some alternatives to physical gold?
What physical gold product is best to buy?
Physical gold investors are generally looking for items that are 0.999 fine. Most gold bullion coins fit this description, including the Canada Gold Maple Leaf, the South African Krugerrand and the American Buffalo Gold coin. American Gold Eagles are popular with investors, but they are have a much lower purity at 91.67 percent.
An alternative to gold coins is gold rounds, which are also 0.999 fine but are not legal tender. This makes them slightly cheaper than gold coins, as the premium for gold coins is higher because of the credibility that comes from being fabricated by government mints.
Both gold coins and gold rounds come in various sizes, usually ranging from 1/10 ounce to 1 ounce, though other less common sizes are available.
Gold bars are another popular option. These also come in a variety of sizes, and as choices can range from a 1 gram bar to 400 ounce bar, this category of products can accommodate a range of investors. They are also 0.999 fine.
When the objective is to get the most metal for the least money, it’s generally best to shop for gold rounds and gold bars, which tend to be cheaper than gold coins of the same weight.
Another factor that may need to be considered is the amount to be invested. Bars may be the best option for large investments since bigger sizes are available. Further, it is often easier to manage large products than it is to manage an array of smaller gold items.
However, physical gold investors also need to give forethought to when they may want to sell their gold. Large products will require liquidating a more sizeable portion of one’s gold portfolio, and such products may be more difficult to sell in some instances. Individuals making ongoing or significant investments may want to consider purchasing gold in various weights.
What is the difference between the gold spot price and retail price?
Investing in physical gold is often oversimplified, and the misconceptions can begin with pricing.
A spot price by definition is the cost of immediate delivery, and is a way to gauge the legitimacy of an ask or retail price. The spot price is what is reported on and what most gold price charts will show. Unfortunately, some investors don't realize until they make their first purchase that the spot price is not what one actually pays for physical gold.
The retail price of gold is based off the spot price but includes a markup, also called a premium. In addition to premiums, there are numerous other expenses investors should be prepared to pay when purchasing pure gold, including shipping, handling and insurance. In some instances, prices may be higher for individuals who choose to pay with a credit card.
There may also be processing fees to own the yellow metal or fees for small lot purchases. On the other hand, gold prices are sometimes lower for those purchasing larger quantities.
Where can investors buy physical gold?
Gold buying can be done through government mints, private mints, precious metals dealers and even jewelry stores. Some of these locations will offer numismatic coins or other gold items geared toward collecting and gift giving, which bullion investors should generally avoid. These products are for play in a different ball game and are not what the average gold investor needs.
When choosing where to buy gold, it is again best to give thought to reselling it. Some businesses that sell gold will also buy it back. Some will even buy gold that they didn’t sell, but may pay lower prices.
Furthermore, premiums and fees are not one size fits all when buying physical gold. Different sellers may offer the same items at different prices, so investors should take the time to find the best deal.
How and when to sell physical gold?
Just as buying gold often provides investors with a pricing wakeup call, investors who decide to sell are sometimes surprised at the prices they receive. That is because the buyback price, or bid, is lower than the asking price. The difference between the two is referred to as the spread, and it is a loss that the seller initially bears.
For example, if an investor pays US$2,500 for a 1 ounce Canadian Maple Leaf and decides to sell it back the same day, the buying price may only be US$2,419. The spot price is generally in the middle of the two.
Furthermore, there are usually other costs involved with selling gold, including shipping, insurance and liquidation fees. Some businesses have minimum purchase requirements, and depending upon payment arrangements, it may be necessary for the investor to pay bank wire fees or postage to receive a check.
Individuals who want to sell their gold quickly may consider “we buy gold” businesses as a convenient alternative. However, while these businesses can serve as a quick source of liquidity, they are usually not the best option, as their underlying business strategy often involves making lower-than-average offers, meaning you will receive less than you would at a bullion exchange or mint.
The reality is that, given the spread and the costs associated with acquiring and selling gold, a sharp price move is generally needed to turn a profit. Investors are encouraged to consider building positions in physical gold as a long-term investment, possibly even for retirement savings.
How should physical gold be stored?
Determining the best storage option involves weighing risks against costs.
Paying for secure storage eats into profits from the metal’s gains, so some people choose to store their gold at home or in their office. In theory, that is the riskiest option as it involves the highest potential for loss due to theft or disaster. But in many instances these risks are not substantial enough to justify the cost of other storage options. For home storage of smaller amounts of gold, mitigate theft risk by keeping it hidden somewhere that is less likely to be discovered. Of course, a sturdy home safe comes with an upfront cost and a footprint, but it can help protect valuables from theft and some disasters.
As mentioned, gold can also be stored in a depository or safe deposit box for a cost. If an investor chooses this route, there are a few things to consider. Rates can vary between banks, so price comparison is important. Additionally, the contents of safety deposit boxes in financial institutions are generally not insured. Last but not least, some banks do not technically permit the storage of bullion, so it's important to make sure it's possible before signing a terms and conditions agreement. The information should be listed in the agreement as well.
Is it possible to purchase physical gold through the futures market?
A gold futures contract is an agreement to buy or sell gold on a date in the future for a price that is determined when the contract is initiated. The futures market is often referred to as an arena for paper trading. Generally, the bulk of the activity is just that, as metal is not actually exchanged and settlements are made in cash.
However, the futures market can also be an arena for purchasing physical gold. That is not to suggest that it is the best source of metal for all investors as it may not increase one’s purchasing power. Obtaining gold through the futures market requires a large investment and involves a list of additional costs. The process can be complicated, cumbersome and lengthy, which is why this option is considered best for highly experienced market participants.
What are some alternatives to physical gold?
Purchasing metal is not the only way to gain exposure to physical gold. Indeed, the popularity of exchange-traded funds (ETFs) underscores how easily people can get into the gold market without actually owning physical gold.
Gold ETFs may track gold-focused stocks or they may track the yellow metal's price. Investors looking for the closest analog to buying physical gold will likely want to focus on the latter. However, it's important to be aware that ETFs that follow the gold price are generally not vehicles to acquire gold, even if they are physically backed.
One advantage of gold ETFs is that they can be easier to trade than physical gold. Some investors choose to hold a set amount of physical gold at all times and use ETFs to trade the metal's ups and downs.
To learn about your options, take a look at our lists of gold ETFs on the NYSE Arca and gold ETFs on the ASX.
This is an updated version of an article originally published by the Investing News Network in 2012.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Providence Insider Participates in Financing
Providence Gold Mines Inc. (“the Company) is pleased to announce further to the Private placement announced on November 14, 2024 that an insider of the Company is participating in the first tranche of the private placement in the amount of $75,000 Cdn for 1,500,000 units at $0.05 per unit. Each unit comprises of one common share and one non-transferable warrant exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing. The funds will be used for general purposes.
As announced, a placement of up to $1,800,000 Cdn for 36,000,000 units at $0.05 per unit is now underway. Each unit will comprise of one common share and one non-transferable warrant, exercisable into one common share of the Company at a price of $0.09 for a period of two years from the date of closing.
USE OF PROCEEDS
The funds from this placement will be used for evaluation of the new gold surface discovery reported for reference on May 6, 2024 and for a significant drilling program of up to 2500m designed to target the historical McCarthy and Mexican shafts and as well as an area north of the Mexican shaft where significant ground preparation provides a favourable structural setting for hanging wall splay veins analogous to the historical ”Bonanza” stope at the Providence mine first stope at surface alone produced 50,000 ounces. Ron Coombes states, “exploration efforts have modelled potential for robust significant high-grade gold targets”.
All securities issued will be subject to a hold period of four months and one day from the closing date of the private placement, in accordance with applicable Canadian securities laws.
BOARD APPOINTMENT
In addition, the Company is extremely pleased to announce the CFO and director appointment of Brian Crawford CPA, CA.
Brian Crawford CPA, CA, has extensive experience as a senior financial executive. Brian was formerly a partner with a national firm of Chartered Professional Accountants and founded several public companies trading on the TSX Venture Exchange (“TSX.V”) and the Canadian Securities Exchange (“CSE”). Brian currently serves as a Director, Corporate Secretary and or Chief Financial Officer of several TSX.V and CSE-listed issuers.
QUALIFIED PERSON
Lee Groat Ph.D., P. Geo, a geologist and qualified person (as defined under NI 43-101) has read and approved of the technical information contained in this news release.
ON BEHALF OF THE BOARD
"Ronald Coombes"
Ronald A. Coombes, President & CEO
Phone: (604) 724-2369
Email: rcoombes@providencegold.com
STAY TUNED! VISIT OUR WEBSITE FOR MORE DETAILS
www.ProvidenceGold.com
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CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Neither the OTC-Pinks and or the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
All statements, trend analysis and other information contained in this press release relative to markets about anticipated future events or results constitute forward-looking statements. All statements, other than statements of historical fact, included herein, including, without limitation, statements relating to the permitting process, future production of Providence Gold Mines, budget and timing estimates, the Company’s working capital and financing opportunities and statements regarding the exploration and mineralization potential of the Company’s properties, are forward-looking statements. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Important factors that could cause actual results to differ materially from Providence Gold Mines expectations include fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and native groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; and uncertainty as to timely availability of permits and other governmental approvals. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. Providence Gold Mines does not undertake any obligation to update forward-looking statements except as required by applicable securities laws. Investors should not place undue reliance on forward-looking statements.
TEM | Yalgoo Update - Further Excellent Iron Results
Tempest Minerals Limited (ASX: TEM) is pleased to update that recent RC drilling at the Remorse Target has identified the presence of thick, high-grade, magnetite-hosted iron in initial assays which has now been confirmed with multiple drill holes over several kilometres of strike length. The Remorse Target is situated within the Company’s 100% owned Yalgoo Project which has multiple world-class iron ore operations nearby.
Key Points
- Additional high-grade magnetite iron intercepted in RC drilling
- Consistent intercepts over >2 km of drilled strike length
- Identical outcropping geology mapped over a 5 km total strike length
- Potential for a large-scale iron ore deposit nearby other world-class processing facilities
Remorse Target
High-grade iron
In addition to the lab results for the first drillhole previously reported 1, the Company is pleased to announce the completion of drilling and that follow-up results in subsequent drillholes confirm the presence of high-grade iron at the Remorse Target. New results include:
WARDH00180 16m @ 32.6% Fe from 93m (pXRF)
WARDH00169 20m @ 32.3% Fe from 120m (pXRF)
and 11m @ 30.8% Fe from 182m (pXRF)
WARDH00166 7m @ 32.8% Fe from 96m (Lab)
WARDH00171 8m @ 30.1% Fe from 130m (pXRF)
* Portable XRF (pxrf) results are not comparable in reliability to authorised laboratory results and should be not relied on for quantitative purposes outside indicative demonstrations of potential order of magnitude of enrichments.
Background
TEM has completed the first phase of RC drilling at the Remorse Target of its flagship Yalgoo Project. In total, 21 RC holes were drilled for 4,005m. Samples have been Boxscanned (pXRF) and submitted to the lab and final assay results are expected in December 2024.
The previously reported iron intercept from the first hole drilled at Remorse was WARDH00160 of 32m @ 30.0% Fe from 96m (including 7m @ 37% Fe) (Lab).
The Remorse Target is part of Tempest's broader Yalgoo Project which spans over 1,000 square kilometres of prospective terrain for base metals, precious metals and iron ore.
Figure 01: Section through iron mineralisation WARDH00180
Figure 02: Section through iron mineralisation WARDH00169 and WARDH00163-165.
All samples collected have been analysed using a Boxscan unit which includes a mounted portable X-ray fluorescence (pXRF). Although not as accurate as laboratory analysis, pXRF data when collected in a quality and consistent manner can also exhibit high accuracy and precision. The pXRF data has been compared with assays received to date (>800 samples) and has an average variance of -4.2% and a median of -4.3%. The results indicate the accuracy is considered acceptable for current exploration reporting purposes (and potentially an overall slight underestimation by pXRF).
Remaining assay results are due in December and are expected to correlate strongly with the pxrf results announced.
As previously advised, the drill program design was focused on the strong base metal geochemical anomaly exhibited at the Remorse Target 2. The planned holes were focused strongly on testing the 'hanging wall' stratigraphy at Remorse and were not initially focused on the newly identified iron layer. However, the program did result in the 4 most northerly drill holes intercepting the main magnetite layer and numerous holes intercepting adjacent magnetite-rich layers.
The widely spaced drilling shows continuity and consistency over more than 2 kilometres and identical iron-rich stratigraphy outcrops can be traced over an extensive 5-kilometre zone correlating with the original Remorse Target footprint.
Click here for the full ASX Release
This article includes content from Tempest Minerals Limited, 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.
Divestment of Non-Core Whiteheads Gold Project
Great Boulder Resources (“Great Boulder” or the “Company”) (ASX: GBR) is pleased to provide an update regarding its Whiteheads Gold Project located 40km north of Kalgoorlie, Western Australia.
HIGHLIGHTS
- Great Western Gold Pty Ltd (GWG) to acquire 100% of Great Boulders’ interest in the Whiteheads Gold Project (Whiteheads) located in Kalgoorlie, Western Australia
- Great Boulder to receive the following consideration for the sale of Whiteheads:
- Exclusivity Fee: $50,000 cash payment (Paid)
- Cash Payment: a one-off cash payment at Listing, less the Exclusivity Fee, as a reimbursement for reasonable cash payments incurred by Great Boulder with respect to exploration and expenditure commitment at Whiteheads during the period commencing on the Execution Date (today) and Completion Date (estimated costs of ~$250,000 to be incurred)
- Equity: Upfront and deferred equity consideration in GWG totalling $1,200,000 (assuming a $0.20 per share Listing price)
- GWG intends to complete an initial public offering (IPO) on the Australian Securities Exchange (ASX) in 1H-CY25
- The divestment of the non-core Whiteheads Gold Project allows Great Boulder to continue to prioritise management time and capital allocation on progressing its flagship Side Well Gold Project, whilst retaining equity upside to Whiteheads
Great Boulder’s Managing Director, Andrew Paterson commented:
“This is a great outcome for Great Boulder shareholders. The prospectivity and potential of Whiteheads has been overlooked given the significant exploration success at Side Well, resulting in the prioritisation of funds and management time, and we’re pleased to be working with Great Western Gold to unlock value here.
In addition to maximising the value for Great Boulder shareholders from Whiteheads, this transaction will further sharpen our focus on Side Well, where we are progressing a fully funded +50,000m drill program to deliver material resource growth and new discoveries.
As we exit the project I’d like to thank our Joint Venture partner Scott Wilson for his support. Whiteheads was an important stepping stone for Great Boulder back in 2019 and Scott has been a great supporter of the Company ever since.”
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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