Goldman Sachs still believes the metal could see $2,500 by the end of the year—especially with fears of a potential recession. According to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, “It’s a perfect storm for gold right now.” However, Lawrence Lepard, managing partner of Equity Management Associates, as noted by Barron’s, “is betting that gold hits $3,000 within the next two years. He is skeptical of the consensus view that inflation has peaked, and doubtful that the Fed will bring inflation back down near its annual 2% target.” That could be positive news for companies, such as Nine Mile Metals (CSE: NINE) (OTCQB: STVGF), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), B2Gold Corp. (TSX: BTO) (NYSE: BTG), and Gold Fields Limited (NYSE: GFI).
Look at Nine Mile Metals (CSE: NINE) (OTCQB: STVGF), For Example
Nine Mile Metals announced it has signed a new Mineral Property Option to acquire all the Vendor’s right, title and interest in and to 12 mineral claims: California Lake (6 claims), Canoe Landing Lake East (4 claims); and Nine Mile Brook area (2 claims) of the Bathurst Mining Camp, New Brunswick, subject to a 2% Net Smelter Royalty. The Mineral Property Option Agreement is dated April 25, 2022. Nine Mile Metals geological exploration footprint has now increased from 31.24 km2 to a massive 70.18 km2, over the most fruitful host rocks in the entire BMC. Nine Mile now has three distinct advanced VMS Projects: Nine Mile Brook; California Lake; and Canoe Landing Lake (East and West). These acquisitions transform Nine Mile Metals into one of the largest exploration companies in the BMC.
These strategic acquisitions solidify the Company’s land position in the highly target rich Spruce Lake, Canoe Landing Lake, and Boucher Brook Formations, in the world-famous Bathurst Mining Camp. These prolific formations host 16 of the 46 known VMS deposits, including Trevali’s producing Caribou mine.
California Lake VMS Project
The California Lake VMS Project covers 24.42 square kilometers immediately north of the Canoe Landing Lake Project and includes a large section of the highly prospective Spruce Lake Formation. Included in the land package are 4 known base metal (Cu, Pb, Zn) mineral occurrences: South Branch Forty Mile Brook; California Lake 32 South; California Lake 68 South and California Lake – Murray Brook. Historical work in the area identified a variety of VMS depositional styles including disseminated and stringer sulphides in addition to massive, tabular massive sulphides as at the California Lake 32 South Zone where previous drilling intersected values ranging from 7.86% Zn, 2.51% Pb, 73.9 g/t Ag and 1.41 g/t Au over 6 metres.
At California Lake – Murray Brook, historical surface trenching identified an extensive hydrothermal alteration zone some 500 metres in length and between 10 and 100 metres wide with significant concentrations of base metal sulphides including grab samples up to 5% Cu. At California Lake 68 South, 4-meter drill intersections assayed 2% Pb/Zn with minor copper and silver.
Canoe Landing Lake VMS Project
To the southeast of California Lake, the acquired Canoe Landing Lake East VMS property covers 5.5 square kilometers along the east flank of the Canoe Landing Lake VMS Deposit. Hosted within the Boucher Brook Formation near the contact with the Canoe Landing Lake Formation, the deposit consists of 22.8 million tons grading 0.64% Pb, 1.82% Zn, 0.56% Cu, 0.94 oz/ton Ag and 0.034 oz/t Au. This additional property increases our Canoe Landing Lake VMS Project to 10.78 km2, which includes both Canoe Landing Lake West and Canoe Landing Lake East properties.
Nine Mile Brook VMS Project:
The newly acquired Upper Pabineau River and Nine Mile Brook properties on the eastern flank of our existing Flagship Nine Mile Brook VMS Project, adds 9.02 square kms of prospective stratigraphy along the Boucher Brook Formation, host of the Nine Mile Brook VMS occurrence and the Canoe Landing Lake Deposit to the west. These additional properties increase our Nine Mile Brook VMS Project to 34.98 km2.
Utilizing recent proprietary advances in both technology and data processing, this large project portfolio will be aggressively explored for its VMS potential. Initial geophysical targeting will be followed up by ground-based surveys, 3D modeling and diamond drilling. Bore hole surveys will be conducted to define subsurface mineralization.
“We are very pleased to announce these strategic acquisitions which add significant shareholder value to our project portfolio. These acquisitions dramatically increase our exploration footprint in the BMC, and de-risks our portfolio tremendously. To have three (3) significant VMS exploration projects, deeply roots Nine Mile in the Bathurst Mining Camp”, stated Patrick J Cruickshank, MBA – Director & Technical Advisory Committee Member.
Other related developments from around the markets include:
The groundbreaking partnership agreement between Barrick Gold Corporation, the federal government of Pakistan and the provincial government of Balochistan should unlock the enormous value of Reko Diq, one of the world’s largest undeveloped copper and gold deposits, president and chief executive Mark Bristow said today. Speaking on an investor call, Bristow said the project represented a unique mining opportunity, which would be a major addition to Barrick’s Tier One1 asset base, while also bringing significant economic and social benefits to Pakistan and Balochistan.
Newmont Corporation announced that it will acquire the remaining 5% interest in Yanacocha from Sumitomo Corporation for $48 million. The transaction is expected to close in the second quarter, making Newmont the exclusive owner-operator of this world-class asset.
This announcement follows an announcement in February 2022, in which Newmont acquired Buenaventura’s 43.65% interest in Minera Yanacocha. “This transaction gives Newmont full equity ownership of the Yanacocha district where we are positioning the Sulfides project for profitable production and value generation for decades to come. We have deep knowledge of the asset and the value it brings to Newmont stakeholders,” said Newmont President and CEO Tom Palmer. “We are committed to continuing to be a catalyst for sustainable development in Peru and look forward to continuing to work closely with communities in the Cajamarca region and the Peruvian government.”
B2Gold Corp. announced an updated and significantly increased Mineral Resource estimate for the Anacondaarea, comprised of the Menankoto permit and the Bantako North permit, located approximately 20 kilometres from the Fekola Mine, including initial estimates for oxide Indicated Mineral Resources and sulphide Inferred Mineral Resources. Based on the updated Mineral Resource estimate and B2Gold's preliminary planning, the Company has demonstrated that an open pit situated on the Anaconda area could provide selective saprolite material (average grade of 2.2 grams per tonne) to be trucked to and fed into the Fekola mill commencing as early as late 2022, subject to obtaining all necessary permits and completion of a final development plan.
Gold Fields Limited announced profit attributable to owners of the parent for the year ended 31 December 2021 of US$789m (US$0.89 per share). This compared with profit of US$723m (US$0.82 per share) for the year ended 31 December 2020. A final dividend number 95 of 260 SA cents per share (gross) is payable on 14 March 2022, giving a total dividend for the year ended 31 December 2021 of 470 SA cents per share(gross). Gold Fields Limited is a globally diversified gold producer with nine operating mines and one project in Australia, Chile, Ghana (including our Asanko Joint Venture), Peru and South Africa, with total attributable annual gold-equivalent production of 2.24Moz. It has attributable gold-equivalent Mineral Reserves of 52.1Moz and gold Mineral Resources of 116.0Moz.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Nine Mile Metals by Nine Mile Metals We own ZERO shares of Nine Mile Metals. Please click here for full disclaimer.
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