Archive | Gold and Silver

Harte Gold stock jumps on new discovery near Sugar Zone mine – by Staff (Mining.com – July 23, 2021)

https://www.mining.com/

Harte Gold’s (TSX: HRT) regional exploration at its Sugar Zone property has made the discovery of a new greenfield mineralized area, about 8.5 kilometres (5.2 miles) northwest of the producing Sugar Zone mine in Ontario.

The Sugar Zone property covers a large greenstone belt 36 km in length and up to 10 km wide, part of the Abitibi-Wawa subprovince. There are over 15 targets identified by Harte on the property prioritized for advanced exploration.

The new discovery, named the “007 Showing”, was a result of the company’s ongoing efforts to concentrate exploration efforts on priority areas across its 81,287-hectare land package. Continue Reading →

J.P. Bickell was the Mogul of Molesworth – by David Yates (Shoreline Beacon – July 21, 2021)

https://www.shorelinebeacon.com/

When he died on Aug. 22, 1951, J. P. Bickell was one of Canada’s wealthiest and most powerful men. A millionaire before age 30, Bickell rose from an impoverished background to become a successful mining magnate, investment broker, theatre impresario, patron of the arts, aircraft pioneer, auto racer, adventurer, philanthropist and patriot.

Bickell was also one of Huron County’s extraordinary sons. John Paris Bickell was born on Sept. 26, 1884 in the Molesworth Presbyterian Church manse to Rev. David Bickell and his wife, Annie Paris.

He was the second of four children in a family that saw its share of tragedy. His father died in 1891, his younger brother died in 1892. His older brother died of appendicitis in 1898. Continue Reading →

Hold on to your gold; a Fed rate hike in 2023 could be too little to late for inflation – VanEck’s Joe Foster – by Neils Christensen (Kitco News – July 21, 2021)

https://www.kitco.com/

(Kitco News) – The gold market continues to struggle as investors focus on the potential for tighter monetary policy and transitory higher inflation pressures.

However, one fund manager says that the rally in the gold market is far from done as there is still plenty of uncertainty to support precious metals prices.

In a report published last week, Joe Foster portfolio manager, of the VanEck Gold Strategy, said that he still sees potential for gold prices to push back to $2,000 an ounce by the end of the year as it could be too little too late for the Fed to stop the growing inflation threat. Continue Reading →

Northeast gold junior miner signs exploration agreement with First Nations – by Staff (Northern Ontario Business – July 20, 2021)

https://www.northernontariobusiness.com/

Gatling Exploration strikes partnership with Matachewan, Wahgoshig First Nations

A gold exploration company in the Kirkland Lake area has inked an exploration agreement with Matachewan and Wahgoshig First Nations.

Vancouver-based Gatling Exploration is working a gold property known as the Larder Project, 35 kilometres east of Kirkland Lake. The agreement sets out a framework for communication and a working relationship between the company and the First Nations.

One objective of this deal is to identify opportunities for Indigenous-owned businesses and members to participate in the company’s exploration activities, which may include training. Continue Reading →

Auteco Minerals builds gold ounces at Pickle Lake – by Staff (Northern Ontario Business – July 15, 2021)

https://www.northernontariobusiness.com/

An Australian junior mining company poking around an old Pickle Lake gold mine continues to find exploration success.

After finishing up a 45,000-metre drilling program last month, Auteco Minerals posted a new resource update for its Pickle Crow Project, showing an inferred gold resource of 1.7 million ounces at 8.1 grams per tonne, up 71 per cent from their previous estimates. The high-grade side of that estimate shows 1,470,000 ounces at 10 grams per tonne.

The Perth-headquartered company picked up Pickle Crow early last year through an earn-in, joint venture arrangement with First Mining Gold. They’ve been running an aggressive exploration program ever since at the historic northwestern Ontario gold mining camp. Continue Reading →

Evolution Mining plans to pour millions into Red Lake gold complex – by Staff (Northern Ontario Business – July 16, 2021)

https://www.northernontariobusiness.com/

Australian miner on three-year spending spree to boost gold production, expand mill capacity and add 15 years of mine life

Australia’s Evolution Mining plans to sink a lot of money into its Red Lake gold mining and milling operations over the next three years.

The company’s board of directors recently approved a plan with a three-year capital investment timetable for Red Lake with the intent to boost gold production to more than 350,000 ounces a year by 2026, and extend mine life in the prolific northwestern Ontario camp by more than 15 years.

In a July 16 news release outlining its strategy, Evolution said the May acquisition of its Red Lake neighbour – Battle North Gold’s Bateman Mine – only served to “accelerate” its growth plan to restore Red Lake into one of Canada’s premier mining districts. Continue Reading →

Analysis: Illegal gold mining in Peru set to continue – by Ben Heubl (Engineering and Technology – July 16, 2021)

https://eandt.theiet.org/

Peruvian authorities seem powerless to stop illegal gold mining that has wreaked havoc in the country’s rainforests and is poisoning the environment with mercury. E&T’s analysis shows that the practice boomed during the pandemic.

The price of gold is sensitive to crisis, but can itself be the cause of turmoil, especially in an environmental context.

During the past year and a half of the global pandemic, the gold price reached historic heights. As a result, an artisanal gold-mining boom swept the world, notably in countries that are but resource-rich. Continue Reading →

Evolution continues with billion-dollar gold growth plan – by Peter Ker (Australian Financial Review – July 16, 2021)

https://www.afr.com/

Evolution Mining will invest a billion dollars over the next two years in a bid to halt a four-year decline in output and grow gold production by at least 30 per cent.

The growth strategy will include the $380 million expansion of the Cowal mine in NSW, where an underground mine will be built beneath the existing open pit so long as final government approvals can be obtained.

The new strategy was announced on the day Evolution revealed it produced 680,788 ounces of gold in fiscal 2021; about 20 per cent less than the company produced in fiscal 2017 and the fourth consecutive year of lower gold production. Continue Reading →

Can Reddit’s silver ‘apes’ beat the market? – by Peter Hobson (Globe and Mail – July 14, 2021)

https://www.theglobeandmail.com/

Kerry Kraker, 56, has worked in kitchens all his life. Since March he’s spent around US$100 a week – half his spare cash – on silver coins. He’s part of a growing social-media movement who say they are buying bars and coins for protection from a coming age of inflation.

Thanks to a community of like-minded silver “stackers” gathering on social-media platform Reddit Inc., Seattle-based Mr. Kraker says he also feels empowered.

“They are so encouraging and so convinced in the changes they can cause,” Mr. Kraker, who lost his home in the financial crisis, told Reuters. Continue Reading →

The Untapped Potential of Nevada’s Cortez Trend (Investing News Network – July 13, 2021)

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The Cortez trend is the lesser-known relative of the famous Carlin trend — the Nevada site home to the most productive accumulation of gold deposits in North America.

In the last quarter of a century, the Cortez trend has been a prolific and profitable site, but experts believe that the Cortez fault corridor could be older, larger and far more valuable than Carlin over the longer term.

And with Nevada continuing to be one of the best regions for gold mining, it’s no surprise why companies operating in this region present a desirable investment opportunity. In Q2 2020 alone, Barrick Gold’s (TSX:ABX,NYSE:GOLD) Carlin project was the largest global mining operation, producing 382 koz — a 105 percent increase over Q2 2019. Continue Reading →

Kirkland Lake Gold boasts record second quarter of production – by Staff (Northern Ontario Business – July 12, 2021)

https://www.northernontariobusiness.com/

Massive exploration drilling at Detour Lake should lengthen mine’s longevity

Kirkland Lake Gold is sitting pretty to reach its 2020 gold production targets, thanks to a record second quarter.

In a July 12 news release, the Toronto gold miner said, collectively, its three operations at Macassa in Kirkland Lake; Detour Lake, north of Cochrane, and Fosterville in Australia, produced a total of 379,195 ounces, up 15 per cent from the same quarter last year and up 25 per cent from the first quarter this year.

Gold sales reached an average realized price of $1,814 per ounce. Up to the midway point of 2021, production totalled 682,042 ounces, a 3 per cent increase from the first half of 2020, reflecting higher production at Detour Lake and Macassa. Continue Reading →

Barrick working with new DRC govt on outstanding legal, fiscal issues – by Tasneem Bulbulia (Mining Weekly.com – July 12, 2021)

https://www.miningweekly.com/

Gold miner Barrick Gold is strengthening ties with the recently appointed government in the Democratic Republic of the Congo (DRC) and is working towards an “amicable solution of some outstanding legal and fiscal issues”, CEO Mark Bristow has said.

Briefing the media about developments at the Kibali mine, in the DRC, and the Tongon mine, in Côte d’Ivoire, at the weekend, he said Barrick’s success in building and operating the Kibali mine in a remote part of the DRC was attributable to the mutually beneficial partnerships it had forged with its in-country stakeholders – the central, provincial and local governments; its host community; civil society; and a large corps of highly competent contractors and suppliers. Continue Reading →

Timmins gold explorer makes new discovery – by Staff (Northern Ontario Business – July 13, 2021)

https://www.northernontariobusiness.com/

Galleon Gold intends to release preliminary economic assessment for open-pit mine in September

Galleon Gold has made a new gold discovery at its West Cache Gold Project, west of Timmins, where it wants to develop an open-pit mine.

The Toronto junior miner reports finding multiple gold zones in a mineralized area that it’s calling the South Area Discovery. West Cache is 13 kilometres west of Timmins. Highway 101 runs through the 3,700-hectare property.

The company has been talking up West Cache’s “blue sky potential” since kicking off a 46,000-metre drill program in June 2020 that’s continued well into this year. Continue Reading →

Gold explorers primed for ‘elephant-sized’ gold discoveries in Dubreuilville-Wawa area – by Staff (Northern Ontario Business – July 9, 2021)

https://www.northernontariobusiness.com/

Mine construction, expansion and gold exploration revives historic northeastern Ontario gold mining camp

Gold miners and explorers are talking about discovering “elephant” deposits in the months and years to come in the Dubreuilville and Wawa area of northeastern Ontario.

The archean volcanic rocks of the Michipicoten greenstone belt seem to contain all the right geological ingredients to cook up massive new gold deposits in this historic mining camp that could rival the likes of Red Lake, Timmins, Kirkland Lake and Val d’Or.

Underground expansion is taking place at Alamos’ Island Gold Mine near Dubreuilville, surface construction is underway nearby for an open-pit operation by Argonaut Gold, and two exploration companies are finding gold at depth near some past-producing mines. Continue Reading →

Black swan inflationary event to trigger gold-buying panic in next 2-3 years – Goehring & Rozencwajg Associates – by Anna Golubova (Kitco News – July 8, 2021)

https://www.kitco.com/

(Kitco News) Inflation is already here, but prices could rise significantly higher in the next several years, creating a gold-buying panic, according to Rozencwajg Associates managing partner Leigh Goehring.

“We already have 5% inflation. And it’s safe to say this 5% inflation will stick for the next six to 12 months. And then we could have a black swan event, and prices go significantly higher. Just like what happened back in the 1970s,” Goehring told Kitco News.

Governments around the world can’t continue to print massive amounts of money with no consequences. And these harmful negative effects will start to come into view as soon as next year, Goehring pointed out. Continue Reading →