Gold gets ignored as global equity rout fails to fire up havens

By Bloomberg News

(Bloomberg) — Equities are plummeting, President Donald Trump says the Federal Reserve’s gone ‘loco’ and the trade war’s heating up, yet traditional havens in times of trouble such as gold are not getting any love.

The biggest selloff in equities since February rolled through Asia and into Europe on Thursday, triggering steep losses in benchmark share indexes, but gold has barely stirred, while other havens from U.S. Treasuries to the Japanese yen and the Swiss franc showed only limited fluctuations.

“Prices haven’t quite had the safe-haven bid many investors would have expected, though they have bounced from below $1,185 an ounce earlier in the week,” said Jordan Eliseo, chief economist at ABC Bullion in Sydney, referring to the precious metal. “Cash seems to be the only place to hide, though gold may well find a stronger bid if this correction in risk assets persists.”

Trump said in a telephone interview on Fox News late Wednesday night the market plunge wasn’t because of his trade conflict with China: “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous.”

Bullion has dropped about 8 percent this year, and in September capped a sixth month of declines, the worst run since 1997. The retreat has been driven by a rising dollar, Fed rate hikes, and a sell-off in holdings in exchange-traded funds. While global trade tensions haven’t provided a boost, prices have steadied at about $1,200 in the past two months.

Spot gold eked out a 0.3 percent gain to $1,198.83 by 10 a.m. in London, after rising 0.4 percent a day earlier when shares first tanked. The yields on 10-year Treasuries were little changed, while the Japanese yen and Swiss franc held mostly steady against the dollar.

Gold’s failure to react to significant market fluctuations and escalating trade war concerns has been in focus. The metal’s been a “massive disappointment” as a haven this year, David Govett, head of precious metals at Marex Spectron, said in August, while Newmont Mining Corp. Chief Executive Officer Gary Goldberg said last month that bullion is “numb” to news.

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Chris Temple from The National Investor – Thu 11 Oct, 2018

By Cory댊 Precious Metals and PM Stocks Continuing To Rise On Market Worries

Chris Temple and I spend some time today discussing the move high in gold and the gold stock ETFs. These moves are coming on the back of the weakness in markets around the world and the assumption that the Fed is all of a sudden going to switch course. While the fears about markets outside of the US are warranted we do not see the Fed turning more dovish anytime soon.

Download audio file (2018-10-11-Chris-Temple.mp3)

Click here to visit Chris’s site The National Investor.

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From:: The Korelin Economic Report

Hammer: Geophysical Survey and Drilling to commence at Perentie

By Scott Tibballs

gold outlook free report

Hammer Metals (ASX:HMX) has released an update on drilling at its Perentie copper-gold project near Mt Isa, Queensland.

As highlighted in the press release:

  • Hammer Metals anticipates commencing a sub-audio magnetics ground geophysical survey over the Paddy B, Judith and Trackside prospects at Perentie in two weeks.
  • RC drilling will commence immediately following the SAM survey which is expected to take one week.
  • Provided the SAM technique is effective in detecting the mineralization the survey will be extended over other “demagnetized” mineralized trends, many of which are obscured by shallow cover and remain to be evaluated.

Executive chairman of Hammer, Russel Davis said:

Hammer is keen the expedite exploration at Perentie, and is planning to have the first pass drilling completed and reported by late November. It is still however very early days at Perentie with many of the other targets and trends obscured by shallow cover to be tested in due course.

Click here to read the full Hammer Metals (ASX:HMX) press release.

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From:: Investing News Network

Orsu Metals: Developing the Next Significant Gold Deposit in Russia

By Alison Cameron

Orsu Metals (TSXV:OSU) has launched its campaign on the Investing News Network’s Resource channel.

Orsu Metals is a mineral exploration and development company currently focused on advancing the Sergeevskoe gold project in Russia’s Transbaikalian region, of which the company owns 90 percent. The property is leased until 2031, and that lease can be extended for an additional 10 years once the mine starts production.

Since acquiring the property in 2016, Orsu Metals has completed approximately 15,000 meters of drilling and approximately 5,000 meters of trenching on the property. Moving forward, the company anticipates the completion of an NI 43-101-compliant resource estimate, which will be followed by a preliminary economic assessment (PEA) for the property.

Orsu Metals’ company highlights include the following:

  • Sergeevskoe gold project license expires in 2031, but it can be extended for an additional 10 years once the mine starts producing.
  • Situated in a historical mining district that has reportedly produced approximately 18 million ounces of gold.
  • Situated between two open-pit mines.
  • Extensive historical exploration has been conducted on the property.
  • Completion of a maiden resource and PEA are forthcoming.
  • Management hold approximately 35 percent of the company’s shares.

Click here to see the educational profile for Orsu Metals (TSXV:OSU) and to request an investor presentation.

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From:: Investing News Network

Ryan Wilday – Cryptrocurrency Technician – Thu 11 Oct, 2018

By Cory댊 Bitcoin Has Been Historically Boring

Ryan Wilday, Cryptocurrency Trader at Elliot Wave shares some insights on the lack of volatility in the Bitcoin and cryptocurrency space. We also look at some smaller coins that are outperforming the overall sector.

Download audio file (2018-10-11-Ryan-Wilday.mp3)

Click here to visit the Elliot Wave Trader website.

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From:: The Korelin Economic Report

Drilling Intersects Additional Near Surface Copper Mineralization – Samalayuca Property, Chihuahua State, MX

By Pia Rivera

VVC Exploration Corporation (“VVC” or the “Company”) (TSXV:VVC) today announces assay results from sixteen additional diamond drill holes (DDH) from the ongoing drilling program at its Samalayuca Copper Property (the “Property”) in northern Chihuahua State, Mexico. Over 5,000 meters in 49 holes have been drilled to date during the 2017/2018 drilling campaign.

The sixteen (16) additional DDH’s tested the Gloria Extension East Zone (GEEZ), over a 450 m strike length. Fifteen (15) of the sixteen (16) DDH’s intersected significant near surface copper mineralization as detailed in the table below. The results further define and extend the copper mineralization, which lies just to the east of the Gloria Extension zone (GEZ) (see plan map on website for locations). The Company commenced drilling in early August on the GEEZ, which is separated by a fault but is only 20 meters to the east of the GEZ, essentially a “on strike” extension, with copper mineralization traced by artisanal miners over a 850 m strike length. Results from the fifteen (15) drill holes which intersected copper mineralization, are summarized below, with only values >0.1% Cu shown.

VVC’s Chairman, Dr. Terrence Martell pointed to the results from the GEEZ drilling as further confirmation of the potential of the Company’s Samalayuca Copper Property and added: “We have two more zones to drill in this campaign, the trapezoid-like area in the Suerte and Juliana zones and around the old Concha pit. So far the results of this campaign have validated our hypothesis regarding the significant potential of the Samalayuca Copper Project.”

Exploration Summary – Samalayuca – 2018 Phase III Drilling Program

The Company’s Samalayuca Phase III drilling program, originally planned for 3000 meters, began in May 2018 and is expected to be completed in November 2018. The drilling was intended to further evaluate the potential of the GEZ and GEEZ areas, and to evaluate mineralized zones in previously mined areas at La Concha and an area which includes the Zorra, Suerte, Juliana and Trinadad artisanal pits, none of which have been drilled by VVC.

The Company’s goal is to define the thickness and grade of the mineralized zones and their structural / lithologic settings using information gained from structural mapping and drilling. The drilling shows the potential of the property to host significant stratiform copper mineralization, which has been traced for over 5 km based on the shallow artisanal mines and VVC’s drilling of the 49 DDH completed to date.


The Samalayuca property covers copper mineralisation in the Samalayuca Sierra, characterised as Stratiform Copper Deposit type, as recognized by qualified persons, Michel Gauthier and Jocelyn Pelletier (2012), and Jacques Marchand and Michel Boily (2013). Fine disseminated chalcopyrite-bornite and associated oxide copper minerals, common to these deposits, are noted in a wide chloritized zone along the Sierra with mineralized zones from 3 to 36 m wide, true thickness, as defined in the old surface pits. The stratigraphy strikes NW and dips gently, approximately 25 degrees to the NE, although it is variable. Vertical faults can generate supergene copper enrichment when they cut the mineralised strata. The old mining works by the artisanal miners (gambusinos) targeted the higher grade, surface, copper zones, exploiting them by shallow (< 20 m deep) open pits and hand cobbing the ore for direct shipping to the smelter.

Analysis and QA/QC

Core samples were sent to the ALS Chemex laboratory in Chihuahua city, MX for analysis by their ICP61 technique. Mineralisation is mainly oxidized copper minerals such as malachite, azurite, chrysocolla, brochantite, and others with some disseminated copper sulphides, such as chalcopyrite, bornite, and chalcocite.

ALS Chemex analytical services are accredited by SANAS and are carried out with a quality assurance protocol in line with ISO 17025:2005. Samples are stored at the Corporation’s field camps, then put into sealed bags until delivered by company personnel to the laboratory where the samples are prepared and analyzed. Samples are logged in the tracking system, weighed, dried and finely crushed to better than 70% passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of up to 1,000 g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh) screen, and a 50-gram split is analyzed. Blanks, duplicates and certified reference material (standards) are inserted to monitor laboratory performance.

This news release has been reviewed for accuracy and compliance under National Instrument (NI) 43-101 by Peter M. Dimmell, BSc. P.Geo. (NL, ON), a VVC Director and Qualified Person as defined by NI 43−101, Standards of Disclosure for Mineral Projects. He has approved the scientific and technical disclosure in the news release.

About VVC Exploration Corporation

VVC is a Canadian exploration and mining company focused on the exploration and development of copper and gold deposits in Northern Mexico, specifically the Samalayuca copper property in Chihuahua State. VVC has other projects in Mexico and Canada, including gold and silver prospects, Cumeral and La Tuna, in Sonora and Sinaloa States, Mexico and a grassroots gold/VMS prospect in the Timmins area of northern Ontario.

Visit our website at:

On behalf of the Board of Directors

Michel J. Lafrance, Secretary-Treasurer

For further information, please contact:
Patrick Fernet – (514) 631-2727


Eugene Braigen – (646) 245-3409

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Click here to connect with VVC Exploration Corporation (TSXV:VVC) for an Investor Presentation

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From:: Investing News Network

Brixton Metals Announces Completion of Warrant Acceleration and the Exercise of Warrants Held by Robert McEwen

By Pia Rivera

Brixton Metals Corporation (TSXV:BBB) (the “Company” or “Brixton”) is pleased to announce it has successfully completed the acceleration (the “Acceleration”) of 7,250,000 share purchase warrants (the “Warrants”) issued pursuant to a private placement of units that closed in April 2016. On completion of the Acceleration, 4,044,000 Warrants were exercised (of which 1,340,000 Warrants that were held by directors and officers of the Company and 4,000 Warrants issued to finders of the private placement were exercised) at the cash exercise price of $0.15, for gross proceeds of $606,600 and the remaining 2,424,000 Warrants were cancelled. Mr. Robert McEwen, through his wholly owned company Evanachan Limited, exercised 2,500,000 Warrants and received 2,500,000 common shares of the Company.

Each Warrant entitled the holder thereof to purchase one common share of the Company at a price of $0.15 per share for a period of 36 months from the issue date. The Company had the right to accelerate the expiry date of the Warrants in the event that the closing price of the Company’s common shares was equal to or greater than $0.25 for twenty consecutive trading days on the TSX Venture Exchange (the “Acceleration Event”). The Company gave notice to the Warrant holders that the Acceleration Event had occurred during the term of the Warrants and the expiry date of the Warrants was accelerated to thirty (30) days after the date of the notice, being October 10, 2018.

About Brixton Metals Corporation

Brixton Metals Corporation is a gold-silver exploration & development company focused in Canada and USA. Brixton wholly owns 4 projects. The advanced stage, Hog Heaven silver-gold-copper project in NW Montana, USA is a past producer of direct ship ore. Two district scale gold projects, “Thorn (Golden Triangle)” and “Atlin” in British Columbia, Canada, have generated excellent results to date. Lastly, two past producing high-grade silver-cobalt mines, the Langis-Hudson Bay projects, are brownfield projects with excellent infrastructure and are located in Ontario, Canada. The Langis and Hudson Bay mines produced at 25 and 123 opt silver, respectively. The Company is actively seeking JV partners to advance one or more of its projects.

Brixton Metals Corporation shares trade on the TSX-V under the ticker symbol BBB. For more information about Brixton please visit our website at

On Behalf of the Board of Directors

Mr. Gary R. Thompson, Chairman and CEO
Tel: 604-630-9707 or email:

For Investor Relations, please contact Mitchell Smith at or 604-630-9707.

Neither 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.

Information set forth in this news release may involve forward-looking statements under applicable securities laws. Forward-looking statements are statements that relate to future, not past, events. In this context, forward-looking statements often address expected future business and financial performance, and often contain words such as “anticipate”, “believe”, “plan”, “estimate”, “expect”, and “intend”, statements that an action or event “may”, “might”, “could”, “should”, or “will” be taken or occur, including statements that address potential quantity and/or grade of minerals, potential size and expansion of a mineralized zone, proposed timing of exploration and development plans, or other similar expressions. All statements, other than statements of historical fact included herein including, without limitation, statements regarding the use of proceeds, By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, the following risks: the need for additional financing; operational risks associated with mineral exploration; fluctuations in commodity prices; title matters; and the additional risks identified in the annual information form of the Company or other reports and filings with the TSXV and applicable Canadian securities regulators. Forward-looking statements are made based on management’s beliefs, estimates and opinions on the date that statements are made and the Company undertakes no obligation to update forward-looking statements if these beliefs, estimates and opinions or other circumstances should change, except as required by applicable securities laws. Investors are cautioned against attributing undue certainty to forward-looking statements.

Click here to connect with Brixton Metals Corporation (TSXV:BBB) for an Investor Presentation

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From:: Investing News Network

Signature Resources Announces that GPS Collar Survey Locates 84% of 1980s Diamond Drill Holes at its High Grade Lingman Lake Gold Property

By Ashley Cowell

Signature Resources Ltd. (TSXV:SGU, OTCQB:SGGTF) (“Signature” or the “Company”) is pleased to announce the successful completion of a high resolution GPS survey of the diamond drill casings from the drill campaigns conducted from 1987 to 1989. 84% of the drill casings, from a total of 154 drill holes were located.

“We are very pleased with this result and we are very fortunate that the located holes had their casing intact. Quite often the drill casing, which goes through the overburden and is anchored to bedrock at its lower end, is removed leaving no surface evidence of the hole. Now that these casings have been located to a sub-meter accuracy (60cm), we have the confidence level that we need to refine our geological model. We will also be able to geo-reference other features in relation to the drill holes with a greater degree of accuracy, allowing us to produce better property scale maps”, commented Walter Hanych, President and CEO of Signature Resources.

The survey was conducted employing a SX Blue II GPS unit which provided accuracy to 60cm. Each locate was measured by taking five fixes minimum with a 95% confidence level.

The company is also nearing the completion of winterizing its field camp in anticipation of a winter drill program in 2019.

Qualified Persons

The scientific and technical content of this press release has been prepared by Walter Hanych, P.Geo., President-CEO of Signature Resources. Mr. Hanych is a Qualified Persons as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

About Signature

The Lingman Lake gold property consists of four free-hold patented claims and 762 single-cell staked claims. Total land package amounts to 15,372.3 hectares; 275.5 hectares of the property total include 14 mineral-rights patents. The property hosts an historic estimate of 234,684 oz of gold* (1,063,904 tonnes grading 6.86 g Au/t at a 2.73 g Au/t cut-off) and includes what has historically been referred to as the Lingman Lake Gold Mine, an underground substructure consisting of a 126.5-meter shaft and three levels of development at depths of 46 m (150 Level), 84 m (275 Level) and 122 m (400 Level).

*This historical resource estimate is based on prior data and reports obtained and prepared by previous operators, and information provided by governmental authorities. A Qualified Person has not done sufficient work to verify the classification of the mineral resource estimates in accordance with current CIM categories. The Company is not treating the historical estimate as a current NI 43-101-compliant mineral resource estimate. Establishing a current mineral resource estimate on the Lingman Lake deposit will require further evaluation, which the Company and its consultants intend to complete in due course. Additional information regarding historical resource estimates is available in the technical report entitled, “Technical Report on the Lingman Lake Property” dated December 20, 2013, prepared by Walter Hanych, P.Geo., and Frank Racicot, P.Geo., available on the Company’s SEDAR profile at

To find out more about Signature Resources Limited, visit our website at, or contact:

Walter Hanych
Chief Executive Officer

Cautionary Notes

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 news release.

This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, exploration results, potential mineralization, the estimation of mineral resources, exploration and mine development plans, timing of the commencement of operations and estimates of market conditions. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to identify mineral resources, failure to convert estimated mineral resources to reserves, the inability to complete a feasibility study which recommends a production decision, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, inability to fulfill the duty to accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying significantly from estimates and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Click here to connect with Signature Resources Ltd. (TSXV:SGU, OTCQB:SGGTF) for an Investor Presentation.

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From:: Investing News Network

Nordic Gold Announces Approval of Mine Start-up by Finnish Mine Supervising Authority ELY

By Ashley Cowell

Nordic Gold Corp. (TSXV:NOR) (“Nordic” or the “Company”) today announced that it has received written confirmation from Finnish supervisory authority ELY, that it has provided all documentation required and that it can recommence mining and processing operations at its Finnish mining project, Laiva Gold Mine. This is the result of ongoing communications with, and environmental reporting for, the Finnish regulators in the region. Finland is rated as the top jurisdiction in the world for mining investment based on the Fraser Institute, Investment Attractiveness Index.

Mining activities started at Laiva several weeks ago in mid-August, to establish access and clear working areas. The company has been conducting three blasts a week and is stockpiling mineralised material in readiness for plant start up. At this time there are around 62,000 tonnes of mineralised material stockpiled and ready for processing. Roughly 15,000 tonnes of mineralised material has been run through the primary crusher as part of recommissioning. This mineralised material is stockpiled in the crushed material storage facility, ready for the imminent recommissioning the mills. With the approval now given by ELY, the mill and plant can now begin operating.

Michael Hepworth, President and CEO said, “This is a significant advance for the company. We are now able to operate the plant and prepare for processing. The plant is being restarted in stages with the grinding circuit now in its final stages of testing. The CIL circuits are ready to operate and will be filled as mineralised material passes through the comminution circuit. We plan to pour our first gold on 27th November.”

About the Company

Nordic was formally known as Firesteel Resources and changed it name to reflect its regional base. Nordic is a junior mining company with a near production gold mine in Finland. The mine is fully built, fully permitted and financed to production via a gold forward sale. Production is scheduled to start in the 4th quarter of 2018.

A recently released PEA was conducted by John T. Boyd Company of Denver, Colorado (“Boyd”).

Summary of the PEA results include:

Other Highlights include:

Pre-production capex $7,115,103

75,981 ounces of average annual gold production at a cash cost of $863 per ounce and AISC of $974 per ounce

Measured mineral resources of 355,000 tonnes at 1.132 g/t Au and Indicated mineral resources of 3,442,000 tonnes at 1.248 g/t Au

Inferred mineral resources of 9,030,000 tonnes at 1.531 g/t Au

Mill grade of 1.45 grams per tonne with a recovery of 90.4%

Life of Mine production of 456,600 ounces gold over a 6-year mine life

The PEA is preliminary in nature and includes Inferred Mineral Resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as Mineral Reserves. There is no certainty that PEA results will be realized. Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability.

As previously announced, when Nordic (Firesteel) acquired the Laiva Mine, the Company was granted, EUR131,716,248 in tax loss provisions which may be used to offset future taxes should taxable income be earned in Finland prior to expiration of the tax loss carry forwards. The tax loss provisions expire between 2020 and 2028 (see the Company’s audited financial statements for the year ended January 31, 2018 for detailed disclosure of the expiration schedule). The recognition of the tax loss carry forwards have a material impact on the economic assessment of the Laiva Gold Mine project and are contingent upon the Company achieving taxable net income per Finnish tax laws.

Nordic Gold’s management has identified several opportunities outside of the scope of the mine plan studied in the PEA, which could further improve the mine plan and the economics of the project. Most important of these being the three additional 100% owned exploration properties close to the mine. Nordic is currently conducting magnetic surveys on all of the company’s properties. All three properties are fully permitted for exploration.

The report also identifies near mine targets for exploration as potentially 3.2 to 5.1 million tonnes grading at 1.25 to 1.45 grams per tonne. This estimate is based on drilling beneath the south and north pits at depths up to 250 m below surface and is open at depth. Further infill and step-out drilling is required to test these targets. Grade estimate is based on assuming the same weighted average grade of the measured, indicated and inferred resources reported in the Boyd report. The report also identifies a target in the eastern extension as potentially 0.85 to 3.2 million tonnes grading 1.25 to 1.45 grams per tonne. This estimate is based on three to five mineralized zones of 200 m to 300 m length, 50 m to 75 m vertical extent and 10 m width. Drilling has identified multiple mineralized zones up to 750 m from the north pit that extend to depths of at least 100 m. Grade estimate is based on intercepts of reconnaissance drilling and the weighted average grade of the measured, indicated and inferred resources reported in the Boyd report. The exploration targets are conceptual in nature as there has been insufficient exploration work to define a mineral resource and it is uncertain if further exploration will result in the target being delineated as a mineral resource. The economics of the PEA do not include these exploration opportunities.

Mineral Resources:

Mineral Resources were prepared by JT Boyd (Firesteel Press Release August 21, 2017).

The effective date of the estimate is August 9, 2017.

The mineral resources presented here were estimated using a block model with a block size of 9 m by 9 m by 9 m sub-blocked to a minimum of 3 m by 3 m by 3 m using ID3 methods for grade estimation. All mineral resources are reported using an open pit gold cut-off of 0.40 g/t Au.

Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, socio-political, marketing, or …read more

From:: Investing News Network

Fremont Identifies Drill Targets at the North Carlin Gold Project, Nevada

By Ashley Cowell

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Fremont Gold (TSXV:FRE) (“Fremont” or the “Company”) is pleased to announce that it has identified a highly-prospective drill target at the Alkali claim block, located on the northern extension of the Carlin Trend, Nevada. A recently completed soil sampling program has identified coincident gold and mercury geochemical anomalies associated with a conspicuous magnetic anomaly (see Figures 1 to 3). Together, the data suggests the presence of gold mineralization beneath alluvial cover and represents an exciting drill target within Nevada’s most prolific gold belt.

Alkali exploration highlights:

  • Geochemical sampling has defined coincident gold and mercury soil anomalies, approximately 2 x 1 km in size, in the northeastern portion of Alkali (see Figures 2 and 3). Mercury is one of the important pathfinders for gold in both Carlin-type and low sulfidation epithermal-style deposits;
  • The gold and mercury anomalies occur on the northeastern boundary of a 1.5 x 2 km magnetic high located in the centre of the claim area (see Figure 1), which indicates a possible intrusive body at depth. Magnetic highs representing intrusive bodies contemporaneous with Carlin-type deposits are recognized at the Railroad-Pinion district in the Carlin Trend, and are also known to be associated with epithermal vein deposits at the Tuscarora deposit, 27 km to the northeast, and at the nearby Hollister deposit;
  • Alkali is located at the intersection of the northern extension of the Carlin Trend and on a northeast-trending lineament which hosts the nearby Hollister and Tuscarora mines, and farther along strike, the Jarbidge and Goldbanks mines. These current and historic epithermal deposits occur in a permissive structural corridor, which includes the Alkali NE fault (Figures 1-4) that cuts directly through the magnetic high and soil geochemical anomaly at Alkali.

The soil geochemistry, magnetic data and geological structures transecting Alkali suggest the presence of gold mineralization beneath alluvial cover.

Clay Newton, Vice President Exploration of Fremont stated, “We are excited by the recent exploration results from Alkali. Soil geochemical anomalies located at the intersection of the NE fault zone with two other fault trends suggest the presence of gold mineralization concealed beneath shallow alluvial cover. As mentioned, Alkali is located on a NE-trending fault zone that projects through the nearby Hollister and Tuscarora mine areas and more distant deposits such as Jarbidge, Marigold and Goldbank, all of which are low-sulfidation epithermal deposits. However, Alkali also lies on the northern extension of the Carlin Trend and is, therefore, prospective for various types of gold deposits, not just low sulfidation epithermal gold deposits such as the nearby Hollister mine, but also Carlin-type sediment-hosted deposits like the neighbouring Rossi and Goldstrike mines, or even copper-gold skarn deposits such as Newmont’s Phoenix mine. The combination of mutually supportive structural, geochemical and geophysical lines of evidence comprise a compelling story for follow-up exploration and drilling.”

Blaine Monaghan, Fremont’s CEO, added, “Like Clay, I am very excited by these exploration results. Freemont has identified an excellent, untested drill target in one of the world’s most prolific gold districts. I look forward to advancing Alkali to the drilling stage.”

Explanation of attached figures

Figure 1 shows the ground magnetic high, possibly representing a shallow intrusive body. Figures 2 and 3 show the gold and mercury plots, respectively, of the ionic leach soil survey data over the central portion of Alkali. Mercury and gold are two of the most important pathfinder elements for gold in either Carlin-type or low sulfidation epithermal deposits.

Figure 4 displays the Coyote and Alkali claim blocks with respect to the northern part of the Carlin Trend with the locations of major Carlin-type deposits and nearby epithermal vein deposits along the Alkali NE fault.

Figure 1: Magnetic anomaly

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Figure 2: Gold in soils anomaly

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Figure 3: Mercury in soils anomaly

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Figure 4: Northern Carlin Trend

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North Carlin overview

Alkali makes up the northern portion of a 3-block claim package located on the northern end of Nevada’s most famous mineral belt. The two larger claim blocks, Alkali and Coyote, along with the smaller 100 ha Rossi North claim block, are collectively called the North Carlin Project, which comprises over 42.5 km2 and 509 claims. Geochemical and ground magnetometer results for Coyote were announced in a press release dated July 19, 2018. As shown in Figure 4, the locations of the Carlin deposits south of Coyote display a regular spacing of approximately three kilometres apart along a north-south trend, which would make Coyote the next “bead on the string” in terms of periodicity and alignment. This observed periodicity along with gold and pathfinder element soil anomalies, associated with subtle magnetic lows at Coyote, indicates possible gold mineralization at depth. Mapping at Coyote has found broad areas of chalcedonic breccias and siliceous alteration in a northeast trending zone parallel to the nearby Rossi deposit. This type of alteration is frequently associated with concealed gold mineralization in the Carlin Trend.

Description of methodology

Ground magnetic surveys were conducted in-house with a Geometrics G-857 proton precession magnetometer with readings at 35-metre intervals along E-W lines 300 metres apart and several N-S tie lines. Total magnetic intensity data were gridded by a minimum curvature method and reduced to pole.

Soil samples were taken at 120-metre intervals along N-S lines 300 metres apart. The samples were analyzed by the ionic leach method of ALS Global analytical laboratory in Vancouver, BC, Canada. The data presented in this news release were smoothed by using a 3-point moving average along the soil lines and gridded by a kriging method.

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From:: Investing News Network