Palm Beach, FL – February 9, 2022 – FinancialNewsMedia.com News Commentary – As the price of gold appears to be holding above $1,800 per ounce, some believe gold is building a solid foundation for 2022 as the precious metal remains an attractive asset no matter what the Federal Reserve intends to handle the monetary policy. And now, the World Gold Council stated that gold‘s potential grows as the U.S. central bank’s first-rate hike looms closer. “Gold has historically underperformed in the months leading up to a Fed tightening cycle, only to significantly outperform in the months following the first rate hike,” the analysts said. “U.S. equities had their strongest performance ahead of a tightening cycle but delivered softer returns thereafter.” Development of better mining equipment is expected to provide lucrative growth opportunity for the market. The market was affected by COVID-19 as were most all markets worldwide. COVID-19 can affect the global economy in three main ways: by directly affecting production and demand, by creating supply chain and market disruption, and by its financial impact on firms and financial markets. A report from Market Growth Reports discussing the global gold mining industry said that: “Our analysts monitoring the situation across the globe explains that the market will generate remunerative prospects for producers post COVID-19 crisis.” Active companies in the markets this week include NevGold Corp. (OTCQB:NAUFF) (TSXV:NAU), Starr Peak Mining Ltd. (OTCQX: STRPF) (TSXV: STE), Artemis Gold Inc. (TSXV: ARTG), McEwen Mining Inc. (NYSE: MUX) (TSX: MUX), Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB).
The report continued: “The Global Gold Mining market is anticipated to rise at a considerable rate during the forecast period, between 2021 and 2027. In 2020, the market is growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon… Increase in demand for gold and increase in the use of gold in various industries drive the growth of the gold mining market. However, the cost of mining is extremely high, which hinders the growth of the market. Development of better mining equipment is expected to provide lucrative growth opportunity for the market. The global Gold Mining market was valued at USD million in 2019. The market size will reach USD million by the end of 2026, growing at a magnificent CAGR during 2021-2026.”
NevGold Corp. (OTCQB:NAUFF) (TSXV:NAU) BREAKING NEWS: NevGold Intercepts 2.19 g/t Oxide Au Over 61.6 Meters, Including 8.51 g/t Oxide Au Over 11.6 Meters at Limousine Butte – NevGold Corp. is pleased to announce that it has received assays from the first four holes of the drilling program at its Limousine Butte Project, Nevada (the “Project”) located on the southern part of the Carlin Trend. The initial holes are part of the Company’s inaugural 10,000 meter drill program at the Project and further assays from the program are expected shortly. Drill results will continue to be released for the remainder of the first half of 2022.
- Defining a Near-Surface, High-Grade, Oxide Gold Resource: the drill program is focused on building a near-surface oxide gold resource while expanding the mineralization laterally along strike and at depth. The results received to date, including 2.19 g/t oxide Au over 61.6 meters including 8.51 g/t oxide Au over 11.6 meters, and 1.30 g/t oxide Au over 44.4 meters including 3.11 g/t oxide Au over 11.1 meters , have confirmed the near-surface, high-grade oxide gold mineralization at Limousine Butte.
- Highly Oxidized Mineralization: assay results from Holes 1-4 report near-surface oxidized mineralization throughout all of the drill holes completed.
- Open Mineralization: mineralization is open along strike and at depth with numerous untested targets that will be drilled in current and future drill programs.
- Improved Geological Model: utilizing a core rig has improved confidence in the geological model as the Company advances towards an updated mineral resource estimate for the Project.
- Second Drill Rig Added: as per the News Release on January 19, 2022, the Company currently has two drill rigs on site, one core rig and one Reverse Circulation rig (“RC”). The RC rig was recently added to expedite the drill program and drill both the Resurrection Ridge and Cadillac Valley targets simultaneously.
NevGold CEO, Brandon Bonifacio, comments: “The initial assays from our inaugural drill program at Limousine Butte highlight the near-surface oxide gold nature of mineralization at the project. It is very exciting to see thick intercepts of multi-gram oxide gold material, which is a key indicator of a strongly mineralized system. We are advancing to a near-surface oxide gold resource, which remains open in all directions. The remaining drilling will continue to test the various deposits within our large, 66.5 square kilometer land package with the goal of driving towards a multi-million ounce oxide gold resource base. We eagerly await results from further drilling and thank our Nevada Team for their hard work delivering on the drill program in a safe, expedited fashion.”
NevGold Chief Geologist, Derick Unger, comments: “We are very encouraged by this initial data from our drill program at Limousine Butte and expect similar results from the remaining holes over the coming months. Exploration is very active in Nevada, and we are fortunate to have received these results in such a timely manner. The information provided by these core holes has greatly improved the geological model at Limousine Butte. We see many areas with strong mineralization potential that have not been given a proper look using modern exploration methods and applying the latest geologic knowledge. The current program will test the boundaries of mineralization, initially focusing on the Resurrection Ridge and Cadillac Valley targets, which will drive advancement towards a near-surface oxide gold mineral resource estimate.” CONTINUED… READ THIS FULL RELEASE AT https://nev-gold.com/news/
Additional recent developments in the beverage market industry include:
Starr Peak Mining Ltd. (OTCQX: STRPF) (TSXV: STE) has recently made arrangements to bring a third drill rig to its NewMétal property (“NewMétal” or “the Property”), with an estimated start date of February 10th. The rig will focus on high priority VTEM anomalies located on a projected extension of the Perron Eastern Gold Zone trend onto the NewMétal property near the town of Normétal, Québec. Amex Exploration (January 11, 2022 news release) has identified the E3 Gold Zone which is consistent with a North-East trend and located approximately 1.5 kilometres West of the property boundary.
The ongoing drilling program continues to target both the Normetmar Deep Zone below 600m vertical depth and the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts in 2021. The Normetmar Deep Zone is located directly below the Normetmar high-grade zinc deposit and approximately one kilometre west of the historic Normétal Mine which produced ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag (Boivin, 1988).
Artemis Gold Inc. (TSXV: ARTG) recently announced that its memorandum of understanding (“MOU“) with Ausenco Engineering Canada Inc. (“Ausenco“) has been terminated due to the expiry of an agreed period to enter into an Engineering, Procurement and Construction (“EPC“) contract to construct a processing facility and associated infrastructure (the “Facilities“) for the Company’s Blackwater Gold Project (“Blackwater” or the “Project“) in Central British Columbia.
The MOU was executed in March 2021 as part of a multi-party competitive bid process and was awarded to Ausenco at that time. Negotiations are expected to continue with various parties to finalize an EPC contract for the construction of the Facilities. The Company also expects to enter into agreements in the next several weeks with suppliers of long-lead equipment to support timelines for construction.
McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) recently provided summary results from the Fox Complex Preliminary Economic Assessment (“Fox PEA” or “PEA“), which outlines a mine life of over twelve (12) years, generating average annual production of 71,980 gold ounces, at average cash costs and all-in sustaining costs (“AISC“) per ounce under $800 and $1,225, respectively. Peak annual gold production of approximately 100,000 ounces occurs in Years 6 to 10 of the mine life.
“The Fox PEA is an important step forward for us. It translates our exploration success into a business case that increases mine life and production rates and lowers costs per ounce! It also provides a clearer picture of where future exploration should be focused to add value.
Our commitment and investment in exploration has provided the foundation for this study, and ongoing exploration success continues to further enhance the expansion potential at Fox. While the PEA is an encouraging first iteration, continuing exploration success, improved economics, and a shorter payback period is required before we decide to advance the project.
Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB) recently provided an update in respect of the Company’s 2022 discovery and resource expansion drilling programs at Limon, Libertad, Pavon and Eastern Borosi in Nicaragua, highlighting results from 2021 and outlining key 2022 targets and objectives.
Darren Hall, President & Chief Executive Officer of Calibre, stated: “During 2021 our primary exploration efforts focused on increasing confidence in known resource areas at Limon, Libertad, Pavon and EBP which I expect will positively impact reserves after 2021 depletion and further increase confidence in future production. Additionally the team advanced new prospective concessions along the western epithermal belt, discovered new zones, progressed our geological understanding and target delineation work which form the basis of our 2022 drilling programs.
DISCLAIMER: FN Media Group LLC (FNM), which owns and operates Financialnewsmedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM was compensated twenty five hundred dollars for news coverage of the current press releases issued by NevGold Corp. by a non-affiliated third party. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
Media Contact email: email@example.com – +1(561)325-8757