Element79 Gold is a mineral exploration company focused on the acquisition, exploration and development of mining properties for gold and associated metals. Element79 Gold has acquired its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA, between the Elko and White Pine Counties, where it has recently completed a 43-101-compliant, pit-constrained mineral resource estimate reflecting an Inferred resource of 3.71 million ounces of gold equivalent* “AuEq” at a grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag)) with an effective date of Feb. 4, 2022. The acquisition of the Maverick Springs Project also included a portfolio of 15 properties along the Battle Mountain trend in Nevada, which the Company is analyzing for further merit of exploration, along with the potential for sale or spin-out. In British Columbia, Element79 Gold has executed a Letter of Intent to acquire a private company which holds the option to 100% interest of the Snowbird High-Grade Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west of Fort St. James. In Peru, Element79 Gold has signed a letter of intent to acquire the business and assets of Calipuy Resources Inc., which holds 100% interest in the past-producing Lucero Mine, one of the highest-grade underground mines to be commercially mined in Peru’s history, as well as the past-producing Machacala Mine. The Company also has an option to acquire 100% interest in the Dale Property which consists of 90 unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the Timmins Mining Division, Dale Township.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
The new focus is focus. While acquisitions characterized the company’s development during the last two years, the company is now actively pursuing the sale, joint venture or spin-off of projects outside of the Maverick Springs project in Nevada and projects in Peru. The company is making progress toward closing the sale of its Long Peak, Stargo, Elder Creek, North Mill, and Elephant projects in Nevada.
Objectives for 2023. Plans associated with the company’s projects in Peru are nearly completed with the intention of beginning site work during the first calendar quarter of 2023. The company’s core focus is to commence preliminary production in Peru in 2023 to generate cash flow. With respect to the Maverick Springs project in Nevada, a re-logging, re-sampling, and petrographic program is planned to help define future drill targets.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
In 2022, central banks purchased the largest amount of gold in recent history. According to the World Gold Council, central bank purchases of gold have reached a level not seen since 1967. The world’s central banks bought 673 metric tons in one month, and in the third quarter, the figure reached 400 metric tons. This is interesting because the flow from central banks since 2020 has been eminently net sales.
Why are global central banks adding gold to their reserves? There may be different factors.
Most central banks’ largest percentage of reserves are US dollars, which usually come in the form of US Treasury bonds. It would make sense for some of the central banks, especially China, to decide to depend less on the dollar.
China’s high foreign exchange reserves are a key source of stability for the People’s Bank of China. But the high amount of US dollars ($3.1 trillion) may have been a key stabilizing factor in 2022, but it could be too much if the next ten years bring a wave of money devaluation that has never happened before.
Central banks have been talking about the idea of issuing a digital currency, which would completely change the way money works today. By issuing a digital currency directly into a citizen’s account at the central bank, the financial institution would have all access to savers’ information and, more importantly, would be able to accelerate the transmission mechanism of monetary policy by eliminating the channels that prevent higher inflation from happening: the banking channel and the backstop of credit demand. What has kept inflation from going up much more is that the way monetary policy is passed on is always slowed down by the demand for credit in the banking system. This has obviously led to a huge rise in the prices of financial assets and still caused prices to go through the roof when the growth in the money supply was used to pay for government spending and subsidies.
If central banks start issuing digital currencies, the level of purchasing power destruction of currencies seen in the past fifty years will be exceedingly small compared with what can occur with unbridled central bank control.
In such an environment, gold’s status as a reserve of value would be unequalled.
There are more reasons why a central bank might buy gold.
Central banks need gold because they may be preparing for an unprecedented period of monetary devastation.
The Financial Times claims that central banks are already suffering significant losses as a result of the falling value of the bonds they hold on their balance sheets. By the end of the second quarter of 2022, the Federal Reserve had lost $720 billion while the Bank of England had lost £200 billion. The European Central Bank is currently having its finances reviewed, and it is predicted that it will also incur significant losses. The European Central Bank, the US Federal Reserve, the Bank of England, the Swiss National Bank, and the Australian central bank all “now face possible losses of more than $1 trillion altogether, as once-profitable bonds morph into liabilities,” according to Reuters.
If a central bank experiences a loss, it can fill the gap by using any available reserves from prior years or by requesting help from other central banks. Similar to a commercial bank, it may experience significant difficulties; nevertheless, a central bank has the option of turning to governments as a last resort. This implies that the hole will be paid for by taxpayers, and the costs are astronomical.
The wave of monetary destruction that could result from a new record in global debt, enormous losses in the central bank’s assets, and the issuance of digital currencies finds only one true safe haven with centuries of proven status as a reserve of value: Gold. This is because central banks are aware that governments are not cutting deficit spending.
These numbers highlight the enormous issue brought on by the recent overuse of quantitative easing. Because they were unaware of the reality of issuer solvency, central banks switched from purchasing low-risk assets at attractive prices to purchasing any sovereign bond at any price.
Why do central banks increase their gold purchases just as losses appear on their balance sheets? To increase their reserve level, lessen losses, and foresee how newly created digital currencies may affect inflation. Since buying European or North American sovereign bonds doesn’t lower the risk of losing money if inflation stays high, it is very likely that the only real option if to buy more gold.
The central banks of industrialized nations will make an effort to shrink their balance sheets in order to fight inflation, but they will also discover that the assets they own are continuing to depreciate in value. A central bank that is losing money cannot immediately expand its balance sheet or buy more sovereign bonds. A liquidity trap has been set. Quantitative easing and low interest rates are necessary for higher asset values, but further liquidity and financial restraint may prolong inflationary pressures, which would then increase pressure on asset prices.
The idea that printing money wouldn’t lead to inflation served as the foundation for the monetary mirage. The evidence to the contrary now demonstrates that central banks are faced with a serious challenge: they are unable to sustain multiple expansion and asset price inflation, lower consumer prices, and fund government deficit spending at the same time.
So, why do they buy gold? Because a new paradigm in policy will unavoidably emerge as a result of the disastrous economic and monetary effects of years of excessive easing, and neither our real earnings nor our deposit savings benefit from that. When given the choice between “sound money” and “financial repression,” governments have forced central banks to choose “financial repression.”
The only reason central banks buy gold is to protect their balance sheets from their own monetary destruction programs; they have no choice but to do so.
About the Author:
Daniel Lacalle, Ph.D., economist and fund manager, is the author of the bestselling books Freedom or Equality (2020), Escape from the Central Bank Trap (2017), The Energy World Is Flat (2015), and Life in the Financial Markets (2014).
Daniel is a professor of global economy at IE Business School in Madrid.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Exploration continues at Hopedale. Labrador Gold released results from grab and channel samples from the northernmost Thurber Dog license at the company’s Hopedale project in Labrador. Hopedale consists of 998 claims in five licenses covering 249 square kilometers of the Florence Lake greenstone belt. Previous work by others revealed significant gold in rock and soil over a three kilometer strike length, including four mineralized occurrences: 1) Thurber North with up to 3.8 grams per tonne, 2) TD500 with up to 21.59 grams per tonne, 3) Thurber Dog with up to 11.4 grams per tonne, and Thurber South with up to 4.1 grams per tonne. In addition to gold, the property has nickel and copper potential.
Encouraging assay results. Grab samples at TD500 returned gold values ranging from 0.46 grams per tonne to 21.59 grams per tonne. Channel sampling over a strike length of 60 meters returned 2.91 grams gold per tonne over 5.17 meters including 14.02 grams of gold per tonne over 0.61 meters, 2.35 grams of gold per tonne over 6.88 meters, and 4.23 grams of gold per tonne over 5.04 meters. Shear hosted gold mineralization has been discovered over a 35 meter strike length. Grab samples at the Kaapak copper occurrence returned up to 10.2% copper with seven of nine grab samples assaying over 1% copper. Channel sampling over a strike length of 50 meters at Kaapak returned copper values of up to 3.31%.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Leading off 2023 with a strong treasury. Exploration at the company’s 100%-owned Kingsway gold project continues to target the Appleton Fault over a 12-kilometer strike length. To date, 63,055 meters of the planned 100,000-meter drill program has been completed. With approximately C$18 million in cash, Labrador Gold has ample financial resources to fund the remaining 37,000 meters of drilling. Assays are pending for samples from 2,700 meters of core.
Big Vein returns high-grade intercepts. The company recently released assay results from four holes, including two holes that were drilled at the north end of the Big Vein target. Hole K-22-206 intersected 20.88 grams of gold per tonne over 5 meters that included 124.2 grams of gold per tonne over 0.81 meters, and 7.41 grams of gold over 1.0 meter. It provides another example of high-grade mineralization over a reasonably long interval. Hole K-22-208 returned 1.07 grams of gold per tonne over 2.0 meters, along with 5.0 grams of gold per tonne over 1.54 meters, including 6.04 grams of gold per tonne over 1.2 meters. Results from two holes associated with the CSAMT and Golden Glove targets returned no significant values.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
TORONTO, Jan. 12, 2023 (GLOBE NEWSWIRE) — Labrador Gold Corp. (TSX.V:LAB | OTCQX:NKOSF | FNR: 2N6) (“LabGold” or the “Company”) is pleased to announce the latest results from recent drilling targeting the highly prospective Appleton Fault Zone over a 12km strike length. The drilling is part of the Company’s ongoing 100,000 metre diamond drilling program at its 100% owned Kingsway Project.
Highlights of the drilling include an intersection of 20.88 g/t Au over 5 metres that included 124.21g/t Au over 0.81 metres and 7.41 g/t Au over 1.0 metres in Hole K-22-206, and 6.04 g/t Au over 1.20 metres in Hole K-22-208. Both holes were drilled at the north end of Big Vein.
“We continue to follow up on the success of last year’s drilling at Big Vein with another high-grade intersection at the north end of the zone. Big Vein has now been drilled over a strike length of approximately 520 metres along the west side of the Appleton Fault Zone and remains open to the northeast and to the southwest,” said Roger Moss, President and CEO. “Drilling is ongoing at both ends of the zone to extend the strike length of the mineralization.”
Table 1. Summary of assay results. All intersections are downhole length as there is insufficient Information to calculate true width.
Figure 1. Big Vein plan map.
A total of 63,055 metres have been drilled to date out of the planned 100,000 metre program. Assays are pending for samples from approximately 2,700 metres of core.
The Company has $18 million in cash and is well funded to carry out the remaining 37,000 metres of the planned drill program as well as further exploration to add to the pipeline of drill targets on the property.
Table 2. Drill hole collar details
QA/QC
True widths of the reported intersections have yet to be calculated. Assays are uncut. Samples of HQ split core are securely stored prior to shipping to Eastern Analytical Laboratory in Springdale, Newfoundland for assay. Eastern Analytical is an ISO/IEC17025 accredited laboratory. Samples are routinely analyzed for gold by standard 30g fire assay with atomic absorption finish as well as by ICP-OES for an additional 34 elements. Samples containing visible gold are assayed by metallic screen/fire assay, as are any samples with fire assay results greater than 1g/t Au. The company submits blanks and certified reference standards at a rate of approximately 5% of the total samples in each batch.
Qualified Person
Roger Moss, PhD., P.Geo., President and CEO of LabGold, a Qualified Person in accordance with Canadian regulatory requirements as set out in NI 43-101, has read and approved the scientific and technical information that forms the basis for the disclosure contained in this release.
The Company gratefully acknowledges the Newfoundland and Labrador Ministry of Natural Resources’ Junior Exploration Assistance (JEA) Program for its financial support for exploration of the Kingsway property.
About Labrador Gold Labrador Gold is a Canadian based mineral exploration company focused on the acquisition and exploration of prospective gold projects in Eastern Canada.
Labrador Gold’s flagship property is the 100% owned Kingsway project in the Gander area of Newfoundland. The three licenses comprising the Kingsway project cover approximately 12km of the Appleton Fault Zone which is associated with gold occurrences in the region, including those of New Found Gold immediately to the south of Kingsway. Infrastructure in the area is excellent located just 18km from the town of Gander with road access to the project, nearby electricity and abundant local water. LabGold is drilling a projected 100,000 metres targeting high-grade epizonal gold mineralization along the Appleton Fault Zone with encouraging results. The Company has approximately $18 million in working capital and is well funded to carry out the planned program.
The Hopedale property covers much of the Florence Lake greenstone belt that stretches over 60 km. The belt is typical of greenstone belts around the world but has been underexplored by comparison. Work to date by Labrador Gold show gold anomalies in rocks, soils and lake sediments over a 3 kilometre section of the northern portion of the Florence Lake greenstone belt in the vicinity of the known Thurber Dog gold showing where grab samples assayed up to 7.8g/t gold. In addition, anomalous gold in soil and lake sediment samples occur over approximately 40 km along the southern section of the greenstone belt (see news release dated January 25 th 2018 for more details). Labrador Gold now controls approximately 40km strike length of the Florence Lake Greenstone Belt.
The Company has 170,009,979 common shares issued and outstanding and trades on the TSX Venture Exchange under the symbol LAB.
For more information please contact: Roger Moss, President and CEO Tel: 416-704-8291
Or visit our website at: www.labradorgold.com
Twitter @LabGoldCorp
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 .
Forward-Looking Statements: This news release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this document, the words “may”, “would”, “could”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” and similar expressions are intended to identify forward-looking statements. Such statements reflect our current views with respect to future events and are subject to risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made, including those factors discussed in filings made by us with the Canadian securities regulatory authorities. Should one or more of these risks and uncertainties, such as actual results of current exploration programs, the general risks associated with the mining industry, the price of gold and other metals, currency and interest rate fluctuations, increased competition and general economic and market factors, occur or should assumptions underlying the forward looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, or expected. We do not intend and do not assume any obligation to update these forward-looking statements, except as required by law. Shareholders are cautioned not to put undue reliance on such forward-looking statements.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Beginning the year in a position of strength. In 2022, exploration at the company’s 100%-owned Kingsway gold project targeted the Appleton Fault over a 12-kilometer strike length. A total of 62,504 meters of the planned 100,000-meter program have been drilled to date, with roughly 36,000 meters of drilling completed in 2022. With approximately $18 million in cash, Labrador Gold has ample financial resources to fund the remaining 37,496 meters of drilling. Assays are pending for samples from 3,903 meters of core, or approximately 10% of the total submitted.
Appleton Fault is proving to be fertile ground. Labrador Gold’s exploration program resulted in the discovery of four new gold occurrences. Three of these, Golden Glove, Big Vein and Pristine, are located along the Appleton Fault Zone which continues to be Labrador Gold’s primary exploration target. With only about two kilometers of the 12-kilometer strike length of the Appleton Fault Zone tested by drilling, management is confident additional discoveries will be made as the remaining ten kilometers are drill tested.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Gold is rising amid a weakening dollar and languishing cryptocurrencies as weaknesses in these asset classes are causing institutions and small investors alike to back off. What’s going on with gold and all the different methods for investors to gain exposure (bullion, ETF trusts, mining stocks)? And can it be believed? While several dynamics could indicate a perfect storm for exposure to gold prices, there have been a number of “head-fakes” over the past few years that have disappointed investors. Let’s look at what has been driving the recent upward march in the metal, which is still considered a store of value.
What’s Going On?
Gold futures touched an eight-month high on Wednesday, January 11 (Six-month chart below). The US dollar (shown here vs Yen and Euro) has been losing its strength in response to central bank hawkishness overseas coupled with a sizable decline in US bond yields.
The ramp up of China’s economy after a long period of Covid-related restrictions is pushing precious and industrial metal prices higher as demand is expected to escalate. Copper is also benefiting as futures contracts for this highly conductive metal reached its highest level since June.
The concerns over the global economy in 2023 also have some wealth managers allocating a larger portion to gold and silver for “investment insurance”. Gold historically has a low correlation to stock prices. Investors who were relying on a 60/40 (stocks & bonds) allocation to hedge each other against one asset class tumbling found they could have benefited from further diversification
Outlook (Bullion/Miners)
In a survey conducted before Christmas, BullionVault users forecast a gold price of $2,012.60 for the end of 2023, with nearly 38% of the 1,829 full responses pointing to the need to spread risk and diversify portfolios as the top reason for investing in bullion.
In his quarterly report on metals and mining, the Noble Capital Markets senior equity analyst, Mark Reichaman shared an outlook that sounded positive but cautious on precious metals miners. “We think precious metals prices around current levels are sufficient for mining companies to be profitable and attract new investment. Our outlook is for range-bound pricing around current levels with a modest upward bias in the first half of 2023, said Reichamn who focuses on materials and mining.
Take Away
A dollar trending upward attracts assets from across the globe. The long trend seems to have broken which has left higher demand for gold and gold mining investments. Also feeding into the demand is China reopening manufacturing that had been shuttered.
The crypto crash and current uncertainty have had the affect of causing investors in these alternative assets to move to other investments.
There has been a move by investors looking for alternative allocations to more traditional stock and bond holdings, including registered investment advisors (RIA). The 60/40 portfolio took a huge hit last year, an allocation to less correlated gold and gold stocks may be deemed prudent by those not looking to repeat.
Vancouver, British Columbia–(Newsfile Corp. – January 9, 2023) – Maple Gold Mines Ltd. (TSXV: MGM) (OTCQB: MGMLF) (FSE: M3G) (“Maple Gold” or the “Company“) is pleased to report additional assay results from the Company’s 2022 drilling at its 100%-controlled Eagle Mine Property (“Eagle”) located in Québec, Canada. The new results represent complete assays from five (5) follow-up holes for which partial results were previously reported (see news from December 13, 2022), targeting northwest extensions of the main mine horizon and along multiple sub-parallel gold horizons (see Figures 1 and 2). The Company’s latest drilling in the northern splay of the main mine horizon (the “North Mine Horizon”) has returned the best intercept to-date from its 2022 program at Eagle.
Highlights:
Drill hole EM-22-015 intersected 10.3 g/t gold (“Au”) over 7.8 metres (“m”), including 41.1 g/t Au over 1.0 m in the North Mine Horizon.
Further up-hole, EM-22-015 intersected 4.3 g/t Au over 3.9 m, including 6.6 g/t Au over 2.0 m, demonstrating the potential for the North Mine Horizon to be wider than what was previously interpreted (see Figure 2).
The EM-22-015 intercepts are located down-plunge from historical high-grade, near-surface drill results from a geologically similar hole (E-19: 19.6 g/t Au over 7.9 m, as well as 17.5 g/t Au over 5.6 m further up-hole) in an area with limited drilling that remains open further down-plunge (see Figure 3).
EM-22-015 has now returned seven (7) separate intercepts over a 120 m interval starting from 142.5 m downhole.
Assays are still pending for roughly 20% of the Company’s 2022 drilling at Eagle.
“Drill results continue to support the Company’s view that multiple sub-parallel gold horizons exist beyond what was historically mined at Eagle and have expanded our target areas along a broader mineralized corridor over a stratigraphic thickness that now exceeds 100 metres in width,” stated Matthew Hornor, CEO of Maple Gold. “There is an apparent concentration of >10 g/t gold starting near surface and extending down-plunge to the EM-22-015 intercepts along the North Mine Horizon in an area with limited drilling that remains open further down-plunge. This represents just one of several compelling follow-up targets that we are excited to pursue in 2023.”
Interpretation and Summary of Results
Key assay results reported herein are from holes drilled at different orientations from the site of hole EM-22-005 (see news from June 20, 2022); three (3) starting from the same drill collar (EM-22-013, EM-22-015, EM-22-016) and one (1) wedge drill hole (EM-22-005W). The new results from EM-22-015 support the Company’s model of multiple sub-parallel gold horizons, some of which are particularly high-grade (>10 g/t), extending from the southern splay of the main mine horizon (the “South Mine Horizon”) to beyond the North Mine Horizon over a mineralized corridor that now exceeds 100 m in width. These two horizons merge into a single main mine horizon in the central part of the Eagle property (see Figure 1).
Figure 1: Plan view showing all 2022 drill holes (28) at Eagle with lines of section for Figures 2 and 3.
Gold mineralization at Eagle is not only limited to the known main mine horizon, hosted in mixed epiclastic and pyroclastic rocks of the northern part of the Joutel-Raymond volcanic complex, but also extends into a sill-like microgabbro occurring close to the Harricana Fault, and sporadically into the Harricana sediments further to the north.
Figure 2: NW-looking cross section (85 m total width) highlighting new assay results (gold boxes) and previously reported/historical intercepts (white boxes) along well-defined sub-parallel horizons.
Figure 3: NE-looking long section (55 m total width) highlighting the location of the EM-22-015 intercept (10.3 g/t Au over 7.8 m) relative to pre-existing grade contouring in the North Mine Horizon. Note the open area extending down-plunge from hole E-19 (19.6 g/t Au over 7.9m).
The EM-22-015 intercepts are located approximately 60 m down-plunge from historical hole E-19. Additional historical drill holes intersected >5g/t Au roughly 250 m further down-plunge, highlighting the grade and volume potential of this new zone that will be tested via follow-up drilling in 2023.
In contrast with the South Mine Horizon, which is hosted in a mixed package of fine-grained crystal tuffs and laminated sediments with the latter hosting most of the gold-bearing semi-massive sulfide mineralization cut by irregular ankerite-(quartz) veinlets, the North Mine Horizon is associated with coarser lapilli-tuffs that appear to have been quite permeable and allowed deposition of abundant matrix sulfide (see Plate 1) adjacent to and overlapping with the microgabbro further downhole. The distribution of these coarse tuffs adjacent to the microgabbro represent a favorable target that has relatively limited drilling to the northwest as well as down-dip and down-plunge (see Figures 2 and 3).
Plate 1: EM-22-015 intercept at 230.8 m downhole in lapilli-tuff host. Sulfide patches in between lapilli are semi-massive to massive. NQ core, 47.6mm diameter.
Intercepts >2 g/t Au have now been obtained at Eagle at downhole depths ranging from 109 to 1,234 m, which is indicative of the significant depth continuity of the system. Multi-element geochemistry, a first for the Eagle project, indicates that Au is associated with elevated silver (“Ag”) and that several additional elements can be used for targeting purposes as they provide for a significantly broader footprint than Au and Ag alone.
The Company completed a total of 28 drill holes corresponding to ~13,823 m at Eagle during 2022. Approximately 20% of the assays for the entire program are still pending. Additional assay results will be released on a periodic basis over the coming months once they are received and interpreted.
Outlook for Further Exploration at Eagle-Telbel
The Company’s next steps will include a comprehensive review of all available data at Eagle, including incorporating results from the 2022 program into its 3D geological model, along with definition of priority targets for follow-up drilling in H1 2023. The Company also believes that continued drilling success at Eagle will relate positively to ongoing exploration on its joint venture ground at Telbel and along the entire Joutel Deformation Zone.
Table 1: Complete assay results for EM-22-015 and nearby drill holes at Eagle (note: bolded Drill Hole IDs correspond to new assay results).
Drill Hole ID
UTME
UTMN
Azimuth
Plunge
Length (m)
From
To
Interval
Au g/t
EM-22-013
690758
5486043
63.8
-69.8
327
257.0
267.4
10.4
2.3
including
257.0
260.2
3.2
5.0
EM-22-013
273.0
273.7
0.7
1.8
EM-22-013
298.0
299.0
1.0
1.5
EM-22-014
690565
5486334
64.5
-67.9
621
160.0
160.7
0.7
1.8
EM-22-014
231.0
231.7
0.7
4.6
EM-22-014
272.0
273.0
1.0
1.3
EM-22-015
690758
5486043
45
-50.1
411
142.5
148.6
6.1
1.6
EM-22-015
164.9
165.5
0.7
4.8
EM-22-015
217.1
221.0
3.9
4.3
including
218.5
220.5
2.0
6.6
EM-22-015
228.0
235.8
7.8
10.3
including
228.5
232.8
4.3
15.9
including
230.0
231.0
1.0
41.1
EM-22-015
246.7
248.4
1.7
4.3
including
247.5
248.4
0.9
7.1
EM-22-015
252.2
255.0
2.8
1.8
EM-22-015
260.0
262.6
2.6
1.1
EM-22-016
690758
5486043
45
-62.6
297
182.6
183.2
0.6
1.7
EM-22-016
193.0
200.3
7.3
3.1
including
196.0
199.6
3.6
4.0
EM-22-016
202.0
206.2
4.2
1.7
including
204.3
206.2
1.9
2.7
EM-22-005W
690795
5486136
2.2
-65.5
363
364.3
365.8
1.5
1.3
EM-22-005W
624.0
625.0
1.0
1.2
All intervals are downhole lengths. True widths are estimated to be between 35% (for steeper holes) to 80% (for shallower angle holes) of downhole lengths. Assays are uncut, but overlimits (>10 g/t Au initial assay) were reassayed using Fire Assay with Gravimetric finish, and subsequently, screen metallics. The latter results are deemed more accurate and are reported here.
Qualified Person
The scientific and technical data contained in this press release was reviewed and prepared under the supervision of Fred Speidel, M. Sc., P. Geo., Vice-President Exploration of Maple Gold. Mr. Speidel is a Qualified Person under National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Speidel has verified the data related to the exploration information disclosed in this press release through his direct participation in the work.
Quality Assurance (QA) and Quality Control (QC)
The Company implements strict Quality Assurance (“QA”) and Quality Control (“QC”) protocols at Eagle covering the planning and placing of drill holes in the field; drilling and retrieving the NQ-sized drill core; drill hole surveying; core transport; core logging by qualified personnel; sampling and bagging of core for analysis; transport of core from site to the Val d’Or, Québec AGAT laboratory; sample preparation for assaying; and analysis, recording and final statistical vetting of results. Check assays for gold are being done on a sample subset at ALS’ laboratory in Val d’Or. For a complete description of protocols, please visit the Company’s QA/QC webpage at www.maplegoldmines.com.
About Maple Gold
Maple Gold Mines Ltd. is a Canadian advanced exploration company in a 50/50 joint venture with Agnico Eagle Mines Limited to jointly advance the district-scale Douay and Joutel gold projects located in Québec’s prolific Abitibi Greenstone Gold Belt. The projects benefit from exceptional infrastructure access and boast ~400 km2 of highly prospective ground including an established gold resource at Douay (SLR 2022) that holds significant expansion potential as well as the past-producing Eagle, Telbel and Eagle West mines at Joutel. In addition, the Company holds an exclusive option to acquire 100% of the Eagle Mine Property.
The district-scale property package also hosts a significant number of regional exploration targets along a 55 km strike length of the Casa Berardi Deformation Zone that have yet to be tested through drilling, making the project ripe for new gold and polymetallic discoveries. The Company is well capitalized and is currently focused on carrying out exploration and drill programs to grow resources and make new discoveries to establish an exciting new gold district in the heart of the Abitibi. For more information, please visit www.maplegoldmines.com.
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 PRESS RELEASE.
Forward-Looking Statements:
This press release contains “forward-looking information” and “forward-looking statements” (collectively referred to as “forward-looking statements”) within the meaning of applicable Canadian securities legislation in Canada, including statements about exploration work and results from current and future work programs. Forward-looking statements are based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Maple Gold Mines Ltd.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at www.maplegoldmines.com. The Company does not intend, and expressly disclaims any intention or obligation to, update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
Gold, which has been moving up slowly over the past weeks and months, stood out on this first business day of the year by noticeably outperforming other asset classes. By late afternoon gold had passed the highest level it had been in six months. Why, after a full year of market turmoil and economic uncertainty, is exposure to gold now attracting investors? Will this trend continue? And what are the various ways a stock market investor can benefit from rising interest in this element?
Background
A strong and upward-trending US dollar provides a parking place for those looking for a safe-harbor investment – one with limited risk. For much of last year, US interest rates led the way among central banks, increasing yields on Treasury debt. This pushed the dollar value upward. The dollar exchange rate then began to weaken as Japan recently began raising its rates.
On the first trading day of 2023, Treasury yields fell as investors began to position for a possible change of monetary policy. This is somewhat cautionary as the FOMC minutes are released on Wednesday. The Fed has already begun tapering its increases in rates. The prospect of many more Federal Reserve interest rate hikes is unlikely. There is fear that the FOMC minutes may make this even more clear. Higher US dollar exchange rates as a result of yield increases had been dampening any natural increase in demand the safe haven metal may have had to push values higher. Plus, there is heightened talk of a US recession; this does not bode well for dollar strengthening moving forward. Investor caution is adding to the performance of gold.
A big investor focus is a release on Wednesday of the minutes from the Fed’s Dec. 13-14 monetary policy meeting. If the minutes make clear that the U.S. central bank is more likely to slow or end interest rate hikes, it opens the door for more assets to move to bullion, gold mining stocks, junior gold mining stocks, and ETFs.
As far as the performance of market-related exposure to gold, it shines compared to the S&P 500. XAU is gold bullion, as shown above as XAU/USD; it is the performance of one troy ounce of gold’s cost per dollar. Over the past three months, this has risen by 10.73%. For the same period, the junior mining stocks (GDXJ) and the major miners (GDMN) have risen by 25.55% and 33.32%, respectively.
The three-month performance accelerated today, we will get clues this week if this heightened interest continues.
To Consider
Did you know that Channelchek provides up-to-date material from a natural resources research analyst, including gold mining stocks, that the Wall Street Journal bestowed the ‘Best on the Street’ label, and that has been awarded the Forbes/Starmine’s ‘Best Brokerage Analyst’ honor? Today, Mark Reichman released his quarterly Metals and Mining Fourth Quarter Review and Outlook. Explore this report by clicking here.
If you have an interest in mining stocks, take advantage of your free access to Mr. Reichman’s research and reporting on many interesting natural resource producers by clicking here.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
A top pick for 2023. During our recent Wall Street Wish List virtual conference, we highlighted our top picks for 2023. Maple Gold Mines Ltd. earned its place based on several competitive advantages, including a large 400 square kilometer land package in a prime location within the highly ranked mining jurisdiction of Quebec, a growing gold resource with significant expansion potential, an experienced management team and industry-leading joint venture partner, and a strong balance sheet.
World class potential. We believe Maple Gold represents an emerging world class gold project in Quebec’s renowned Abitibi Gold Belt. The company is well capitalized and is focused on establishing a new gold district through resource expansion and new discoveries. Both the Douay and Joutel projects have multiple styles of mineralization, including deep controlling structures, which are favorable for exploration and discovery of mineralized systems. Mines in the Abitibi are known for vertical continuity with higher grades at depth. Consequently, there is significant potential to increase the average resource grade with higher grade discoveries at depth.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Investor Day. During a recent investor day webinar, Coeur provided more details about the progress of its Rochester expansion and Silvertip development projects. Additionally, the company provided gold and silver production forecasts through 2025, along with estimates for costs applicable to sales and development capital expenditures. Coeur projects that gold and silver will account for 65% and 35%, respectively, of its 2025 metals mix compared to 70% and 30% in 2021.
Rochester expansion. The expansion is intended to extend the life of the Rochester mine in Nevada. It is roughly 69% complete with construction on track to be completed in mid-2023. Production will steadily increase in the second half of 2023. The total estimated cost is $650 million to $670 million with fourth quarter 2022 and full year 2023 expenditures expected to be in the range of $80 million to $90 million and $197 million to $207 million, respectively. Coeur anticipates de-levering the balance sheet once the Rochester expansion is completed in mid-2023.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, seven of which are located in the mining-friendly jurisdiction of Nevada. Three of Allegiant’s projects are farmed-out, providing for cost reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Drilling at the East Pediment prospect. In late November, Allegiant Gold commenced a follow-up reverse circulation drilling program at the company’s East Pediment prospect to follow up on this year’s discovery of mineralized rhyolite with assays from Hole ES-258 returning intercepts of up to 4.4 grams of gold per tonne. Permits allow for up to 27 reverse circulation drill holes. To allow time for analysis of assay results, the program will be conducted in phases with the first phase comprised of 5 to 6 holes representing 2,000 meters of drilling.
Discovery Hole ES-258. The new discovery led Allegiant to stake an additional 194 mining claims covering parts of the pediment near Hole ES-258. Importantly, mineralization is open at depth where the bottom of Hole ES-258 returned 4.5 meters averaging 0.26 grams of gold per tonne and 13.66 grams of silver per tonne.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Eagle drill results. Maple Gold Mines released assay results for four drill holes and partial assay results for five additional holes from the company’s 2022 drilling program at its 100%-controlled Eagle Mine property. All reported drill holes returned over one gram of gold per tonne and seven of the nine intersected at least two grams of gold per tonne. Assay results associated with ~2,250 meters of drilling at Eagle are pending. Maple Gold expects to complete an additional 1,500 meters of drilling at Eagle by year end.
Multi-gram gold intercepts. Hole EM-22-10 intersected 14 grams of gold per tonne over 0.5 meters from 539.5 meters downhole and 8.3 grams of gold per tonne over 1.0 meter from 543 meters downhole. Hole EM-22-13 intersected 2.3 grams of gold per tonne over 10.4 meters, including 5.0 grams of gold per tonne over 3.2 meters from 257 meters downhole. Hole EM-22-16 intersected 3.1 grams of gold per tonne over 7.3 meters, including 4.0 grams of gold per tonne over 3.6 meters from 193 meters downhole.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
