News

Dacian Gold shares have hit the highest point since a June production downgrade after the company reported a high-grade maiden resource for its Phoenix Ridge discovery

Dacian Gold shares have hit the highest point since a June production downgrade after the company reported a high-grade maiden resource for its Phoenix Ridge discovery (reports MiningNews). Phoenix Ridge has a maiden inferred resource of 481,000 tonnes at 8.1 grams per tonne gold for 125,000 ounces of gold, using a 2gpt lower cut-off. The resource is based on 24 diamond holes for 8200m of drilling.

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First drilling of the Mars prospect at PolarX’s Alaska Range project has hit porphyry-style veins containing visible copper, with the junior saying it was looking forward to further results from the “very exciting” target (reports MiningNews). PolarX is excited because of the potential significance of any discovery given "the large size of the co‐incident copper‐gold‐molybdenum geochemical anomaly and the geophysical anomalies at Mars". Assays are also awaited for potential gold content.

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Plus, Red 5 poised for promotion to the next league of ASX gold producers. And Macquarie sees short-term bullish catalysts for commodities.

Stavely Minerals (ASX:SVY) has added a stunning second leg to its big-time copper hunt in the shadows of the Grampian Ranges in western Victoria, with the first hole in a new shallow-focussed drilling program assaying up to 40% copper. The spectacular hit was made at the Thursday’s Gossan prospect, with the diamond drill hole specifically targeting shallow and structurally controlled mineralisation within the Ultramafic Contact Fault (UCF).

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Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday

Positive discovery news at a number of exploration projects partially offset the effects of a $US20 an ounce fall in the gold price yesterday, and the negative influence of international political shenanigans, to leave financial markets in an eerie truce. Stavely’s exceptional copper assays from its Thursday’s Gossan project in Victoria (the subject of Barry Fitzgerald’s column, above) lit up the market, along with Mincor’s high-grade nickel hit at the Cassini project in WA and Azure Minerals’ exceptional zinc recoveries at its Oposura mine in Mexico.

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The upside at Northern Star Resources’ Pogo gold mine in Alaska remains clear, writes Kristie Batten

The upside at Northern Star Resources’ Pogo gold mine in Alaska remains clear, writes Kristie Batten after a site visit last week (reports MiningNews). Northern Star hosted a group of analysts and investors at site following the Denver Gold Forum, with some returning after 12 months to view the company's progress after it took ownership in late September 2018. Since then, the company has been working on an 18-month "renovation" of the asset, a Jundee lookalike, to realise its full potential.

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Gold’s return to $2200 an ounce appears to have shifted the fear-v-greed equation for shareholders in a pair of juniors targeted by Northern Star Resources and Silver Lake Resources (reports The Australian).

Gold’s return to $2200 an ounce appears to have shifted the fear-v-greed equation for shareholders in a pair of juniors targeted by Northern Star Resources and Silver Lake Resources (reports The Australian). Both bids are backed by the boards of the respective targets, but Silver Lake’s all-share offer for Egan Street Resources, and its Rothsay gold project in WA, looks to be in the most trouble.

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Kingston Resources (ASX:KSN) has just pulled off a rare feat – two high-grade gold discoveries on opposite sides of the Asia-Pacific in less than a fortnight (reports Stockhead).

Kingston Resources (ASX:KSN) has just pulled off a rare feat – two high-grade gold discoveries on opposite sides of the Asia-Pacific in less than a fortnight (reports Stockhead). And, in the process the Sydney-based company may have put itself in contention to join the list of up-and-coming high-grade WA gold stories, following in the footsteps of market darlings such as Bellevue Gold (ASX:BGL) and Spectrum Metals (ASX:SPX).

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The gold price is on track to take out its previous record, says mining analyst and Metalla Royalty & Streaming director EB Tucker (reports MiningNews). He told MNN sister publication Mining Journal during the Denver Gold Forum in Colorado last week that the easy money was to be made in silver and gold at this stage. He sees the stars aligning for silver to achieve US$20/oz in the near term and for gold to take out its previous high of $1889.70 next year.

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