Tag: gold

Investors are rushing into gold stocks as the precious metal continues to hit new highs. The gold price is now above AU$2,000/oz, for the first time ever, and it seems to have plenty more in the tank with forecasters tipping a rise to US$3,000/oz within a year. Just like the gold price, Western Australia’s Paterson Province is taking centre stage. Heavyweights Rio Tinto (ASX: RIO), Newcrest Mining (ASX: NCM), and IGO Ltd (ASX: IGO) each have a slice of prospective ground in this booming WA gold province and cash is pouring into the region. Outside of the ASX, one of the biggest gold stories out of the Paterson Province is that of London-listed Greatland Gold’s (AIM: GGP) Havieron discovery, which…

AFTER intersecting a new high grade gold lode at its Kat Gap Project, Western Australian gold exploration and development company, Classic Minerals Limited (ASX:CLZ) has shifted its focus to preparing the project for production. The Kat Gap Gold Project is part of the group’s Forrestania Gold Project (FGP), located about 50 kilometres to the south-east of FGP’s Lady Ada and Lady Magdalene, where the main thrust of exploration at the Forrestania belt has taken place to date. The recent major discovery at the 100% owned Kat Gap tenements saw Classic identify very significant high-grade gold intersections, making it the main focus of Classic’s exploration, which designated Kat Gap as its “flagship project”. The company recently completed a total of 21…

The gold rush is set to continue after prices reached eight-year highs at the start of the month, breaking through US$1800 ($2603) an ounce for the first time since 2011. The metal reached US$1810 before settling at US$1780 on July 1. ASX-listed gold miners Newcrest Mining, Kirkland Lake Gold, Northern Star Resources and Saracen Mineral Holdings all responded to the price rise with an immediate uptick in share prices. Edison Investment Research director Charles Gibson said there was no end in sight for the spikes. “Gold, with its safe haven and monetary status, has been an obvious beneficiary of the current uncertain environment and that seems unlikely to change for as long as the coronavirus remains a largely unknown quantity,”…

Gold explorers and capital markets advisers predict that the Aussie-dollar price of the precious metal will hit $3000 by Christmas. That was the clear prediction among panellists of a high-profile chatroom at a recent Mines and Money APAC virtual conference. Featuring White Rock Minerals managing director Matt Gill, Artemis Resources executive director Alistair Clayton, Hartleys executive chairman Ian Parker and PCF Capital managing director Liam Twigger, the panel discussed the remarkable sharemarket recovery, the importance of foreign investment, exploration hotspots and – of course – the likely trajectory of the gold price. Mr Parker said the Perth brokerage had seen a surge in new accounts while the COVID-19 triggered downturn appeared to have prompted investors to show a willingness for risk exposure that had typically been missing from the resources sector. “I’ve never…

Horizon Minerals’ reports positive outcomes at its Boorara gold mine, WA, with mining and ore haulage is progressing ahead of schedule and total material movement 22% above plan. Mr Jon Price, Managing Director, Horizon Boorara, said that a total movement of 232,000 BCM had been mined with approximately 42,000 tonnes of oxide and transitional ore at a fully diluted grade of 1.4g/t Au.  This is in line with the reserve model estimates. Costs of drill and blasts have been reduced by the mining of a higher than budgeted volume of free dig material which has resulted in better productivity levels. “First gold production and revenue is expected in July 2020 with production continuing on a campaign basis through to January…

VENTURE Minerals has made a significant gold discovery at its Kulin Project in WA. This emerging province boasts a proven pedigree, hosting several major gold deposits such as Boddington (30moz), Edna May (2.2moz), Katanning (1.2moz) and Tampia (0.7moz). Venture initially carried out surface sampling and mapping programs at Kulin to target nickel and platinum group element mineralisation. But follow-up soil sampling uncovered a cluster of six high-grade  gold in soil anomalies, comparable to the soil geochemical footprint of the 0.7moz Tampia Gold Deposit. Managing Director Andrew Radonjic said Venture was also encouraged by the historic gold exploration work done by BHP which had already recognised Kulin as a gold target as it did for Tampia which, following Ramelius’ takeover, is…

EXTENDED potential mineralisation has been identified at Cyprium Metals’ Hollandaire prospect, with follow-up drilling planned for March 2020. The results were outside the current mineralisation, promising a greater yield for the Cue copper project located north east of Perth, near the Murchison Project. The RC drilling which was completed in February has identified further mineralisation at depth on the western margins of both the east and west structures, with results being returned outside of the currently identified mineralisation. Five intersections from 156m to 283m returned positive findings. The results identified solid concentrates of up to 7.50 g/t from 161m and 1.79pc copper from 116m. Musgrave Minerals is pursuing an option for a joint venture and earn-in with Cyprium that will…

AS gold prices continue to rise rapidly, gold exploration is ramping up all over the goldfields and Sandstone is no exception. Aircore geochemical drilling at Middle Island’s Sandstone gold project, WA, has confirmed a new Tailings South gold target, just 800m south, a result from the Jan 2020 1800m program. Tailings South will be the last prospect to be tested as part of the company’s current 12,300m Phase I reverse circulation (RC) drilling program. These additional Mineral Resources will be applied to the Sandstone pre-feasibility study which is expected to be completed by the end of the 2020 June quarter, and will be crucial to decision around recommissioning. Originally identified by a Weights of Evidence (WoE) structural targeting study, the…