News

Perth junior Breaker Resources (ASX: BRB) has discovered several new high-grade lodes from deeper drilling below an open pit resource within its Lake Roe gold project near Kalgoorlie

Perth junior Breaker Resources (ASX: BRB) has discovered several new high-grade lodes from deeper drilling below an open pit resource within its Lake Roe gold project near Kalgoorlie. Results received from four reconnaissance diamond drill holes completed below the northern part of the Bombora deposit have highlighted the possibility of expanding the existing 1 million ounce resource at depth.

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Credit Suisse has significantly upgraded its outlook for the gold price for the next two-and-a-half years (reports MiningNews)

Credit Suisse has significantly upgraded its outlook for the gold price for the next two-and-a-half years (reports MiningNews). The bank lifted its September quarter gold price forecast from US$1560 an ounce to $1750/oz, and its December quarter forecast from $1600/oz to $1775/oz. It expects gold to average $1800/oz next year, up from the previous forecast of $1600/oz, and $1650/oz in 2022, up from $1550/oz.

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Stavely Resources has delivered an exceptional copper-gold drill result from its drill-out of the Cayley Lode at its Thursday’s Gossan project in Victoria

Stavely Resources has delivered an exceptional copper-gold drill result from its drill-out of the Cayley Lode at its Thursday’s Gossan project in Victoria, with the company saying it continues to “be amazed by the scale of this mineral system” (reports MiningNews). The new intercept of 87m grading 1.74% copper, 0.57 grams per tonne gold and 20gpt silver from 140m down hole is seen as being on par to the discovery hit of 32m at 5.88% copper, 1gpt gold and 58gpt silver from 62m downhole reported last September. The two hits are 100m apart.

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The hunt for the next big NSW porphyry is hotting up, with the highly regarded team leading the RareX-Kincora campaign saying it’s the “hottest porphyry prospect” after Alkane

Alkane (ASX:ALK) has just about doubled to 99c since its crazy March low of 50c when many thought the world as we knew it was all over because of COVID-19. It has lots of things on the go but the main driver since its March low has been renewed enthusiasm for last year’s Boda discovery in NSW’s central-west to shape up as a tier-one gold-copper porphyry project. On results to date, Boda is clearly the most significant discovery in the region since Newcrest uncovered its Cadia gold-copper riches in the 1990s.

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Just about everything else fell this week but gold reclaimed its star status with a rise of $US50 an ounce after a promise from the US central bank that there will be no increase in official interest rates for at least another two years

Just about everything else fell this week but gold reclaimed its star status with a rise of $US50 an ounce after a promise from the US central bank that there will be no increase in official interest rates for at least another two years. The problem with the no-rate increase comments from the Federal Reserve chairman Jay Powell is that while they might be good for gold, they reflect a downbeat outlook for US and global growth.

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Shares in Bellevue Gold climbed another 9 per cent after the explorer hit more high-grade gold 7km north from the existing resource at its namesake project near Leinster

Shares in Bellevue Gold climbed another 9 per cent after the explorer hit more high-grade gold 7km north from the existing resource at its namesake project near Leinster (reports The West Australian). The Steve Parsons-led company reported a drill intersection of 17m at 4.2 grams per tonne from a depth of 19m at its Government Well prospect which sits along the 20km Bellevue Trend. The hole represents the first of four RC holes along a 500m stretch of the strike, with assays from the final three holes pending.

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Kairos Minerals (ASX: KAI) has resumed field work at its 100% owned Pilbara gold project in Western Australia

Kairos Minerals (ASX: KAI) has resumed field work at its 100% owned Pilbara gold project in Western Australia, claiming multiple targets and opportunities would keep it busy for the foreseeable future (reports Small Caps). The exploration focus is finding a Hemi-style deposit and developing a pipeline of drilling targets.

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Breaker Resources claims to have potentially made a significant gold discovery 3km north of its Bombora resource

Breaker Resources claims to have potentially made a significant gold discovery 3km north of its Bombora resource following wide-spaced reconnaissance RC drilling (reports MiningNews). Results from the first 32 holes at the Kopai prospect included 4m grading 4.5 grams per tonne from 84m, 4m at 2.7gpt from 20m and 4m at 2.5gpt from 20m. Breaker said it is awaiting results from 28 holes targeting a potential link between Kopai and the Crescent prospect, 1km to the south.

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