Palm Beach, FL – October 7, 2020 – Gold has always been a ‘safe haven’ in times of global crisis. Investors’ fear levels are particularly high right now, as the coronavirus pandemic turned a global health crisis into an economic one. And it’s uncertain when the world will recover from either of these crises. Some experts, according to CBS News also add that the price of gold has surged to all time highs due to the worsening of U.S.-China trade and political tensions… while other experts cited growing investor concerns that an economic recovery from the coronavirus pandemic might be weakening in the U.S. and elsewhere. No matter what the real reason is, they noted that uncertainty is often seen as good for gold prices. They noted: “The current environment with U.S. dollar weakness, Covid-19 crisis and increased US-Sino tensions (all have) the potential to move gold prices further up and to test the $2,000 mark,” Hans Gunther Ritter, the head of trading for Heraeus Precious Metals, said in a statement. “There is still growth potential for gold allocations in investment portfolios as interests remain low for longer. To some degree gold replaces the US dollar, which typically benefits during a crisis.” Active stocks in the mining markets this week include Kesselrun Resources Ltd. (TSX-V: KES) (OTCPK: KSSRF), New Gold Inc. (TSX: NGD) (NYSE: NGD), Osisko Gold Royalties Ltd. (TSX: OR) (NYSE: OR), Barrick Gold Corporation (NYSE: GOLD)(TSX: ABX), B2Gold Corp. (TSX: BTO) (NYSE: BTG).
An article in NPR confirmed this scenario, saying that: “In uncertain economic times, investors tend to put their money in gold. So it’s perhaps little surprise that gold prices started to rise at the beginning of the year as the coronavirus started spreading in China and Europe and investors feared a global economic downturn.” Gold prices have soared nearly 30% so far this year and many analysts predict gold will top $2,000 by September. NPR continued: “Gold usually rises alongside investors’ uncertainty in the economy. It’s a “safe haven” for investors who want to hedge their bets against a falling dollar and instability in financial markets, said Lindsey Bell, chief investment strategist for Ally Invest. And, as long as investors are still unsure about the health of the market, they’ll continue putting money into gold, she said.
Kesselrun Resources Ltd. (TSX-V: KES) (OTCPK: KSSRF) BREAKING NEWS: Kesselrun Intercepts 42.1 g/t Au over 4.9 m within 45.1 m Zone Averaging 6.2 g/t Au – Kesselrun Resources Ltd. (“Kesselrun” or the “Company”) is pleased to provide the following update on its Huronian Gold Project.
The Company has received initial results from the Fisher Zone, one of four zones tested in the 2020 Huronian drill program. The Fisher Zone has been outlined by historic work to be approximately 400 metres in strike length and 75 metres depth.
- Wide zone of intense quartz veining, alteration and sulphides near surface assayed 2 g/t Au over 45.1 m with three discreet zones that assayed 42.1 g/t Au over 4.9 m, 7.6 g/t Au over 2.3 m and 6.1 g/t Au over 2.8 m in hole 20HUR004.
- Deepest intercept on the core of the Fisher Zone in hole 20HUR011 assayed 8 g/t over 0.7 m and 9.3 g/t over 2.2 m in a broader zone which overall assayed 2.9 g/t Au over 13.0 m.
- Multiple generations of quartz veins recognized indicating long-lived mineralizing gold system.
Higher grade intercepts associated with lead and copper sulphides which is typical of the mineralization at the historically mined Huronian Zone.
Michael Thompson, P.Geo., President and CEO of the Company, commented, “The impressive width and grade along with the tenure of veining, alteration and mineralization indicates a robust system. As well, we have extended the higher-grade core to almost 100 metres vertical depth with the down plunge extent remaining untested. Our systematic approach to exploration puts Kesselrun in an exceptionally good position to aggressively advance the Huronian project”.
The 2020 Huronian drill program targeted four zones; Fisher, Fisher North, McKellar and Huronian. The four zones are in close proximity along an approximate 1500 m strike length in the area of the historic Huronian Mine. The zones include multiple generations of quartz veins that often carry higher gold values in association with altered, sheared and variably mineralized mafic volcanics, feldspar-quartz porphyries and iron formation. Read this entire release along with charts and images for the Kesselrun Resources news at: https://www.financialnewsmedia.com/news-kes/
Other recent developments in the markets include:
New Gold Inc. (TSX: NGD) (NYSE: NGD) recently reported that it has closed the previously announced sale of the Blackwater Project (the “Transaction”) to Artemis Gold Inc. (“Artemis”) for consideration comprised of: Total cash consideration of $190 million comprised of an initial cash payment of $140 million and $50 million in cash payable on August 21, 2021; A gold stream on 8% of gold produced from the Blackwater Project, reducing to 4% of gold production once approximately 280,000 ounces of gold have been delivered to New Gold. The stream is subject to a transfer price equal to 35% of the spot gold price; and 7,407,407 Artemis common shares having a current aggregate value of $34.4 million based on the closing price of the Artemis common shares on the TSX Venture Exchange on August 21, 2020.
Osisko Gold Royalties Ltd. (TSX: OR) (NYSE: OR) recently announced drilling results from the definition and expansion drill program at the Cariboo Gold Project (“Cariboo”) in central British Columbia. Sean Roosen, Chair and CEO of Osisko, commented: “Since Osisko first got involved in the Cariboo project we have been firm believers in its potential scale and importance within the sector. Recent drill results continue to confirm our thesis that Cariboo is not just a mining project, but a mining camp. In a separate release, we have announced that Cariboo will become the flagship asset in the newly formed Osisko Development Corp. I look forward to leading the team that advances Cariboo towards intermediate producer status.”
In 2019, drilling at Cariboo successfully intersected down dip extensions of mineralized vein corridors to a depth of 700 meters and confirmed high-grade intercepts within the current resource. The Company also made multiple new discoveries by stepping out along strike from the known deposits to define a strike length of 15 kilometers of the mineralized system (Figures 1 and 2). These new discoveries will be followed by the drill programs described below with the aim of adding significant resources to Cariboo with continued success.
Barrick Gold Corporation (NYSE: GOLD)(TSX: ABX) recently announced that it has completed the recently announced transaction pursuant to which Skeena Resources Ltd. (“Skeena”) exercised its option to acquire the Eskay Creek project and Barrick waived its back-in right on the Eskay Creek project. As previously announced, consideration for the transaction consists of: the issuance by Skeena of 22,500,000 units (the “Units”), with each Unit comprising one common share of Skeena and one half of a warrant, with each whole warrant entitling Barrick to purchase one additional common share of Skeena at an exercise price of C$2.70 each until the second anniversary of the closing date; the grant of a 1% NSR royalty on the entire Eskay Creek land package; and a contingent payment of C$15 million payable during a 24-month period after closing.
Barrick holds 24,075,000 Skeena common shares, representing approximately 12.4% of Skeena’s issued and outstanding common shares (calculated on a non-diluted basis), and assuming the exercise in full of all of the warrants issued pursuant to the transaction, Barrick will hold 35,325,000 common shares, representing approximately 17.2% of Skeena’s issued and outstanding common shares.
B2Gold Corp. (TSX: BTO) (NYSE: BTG) recently announced additional positive exploration drilling results from the Cardinal and FMZ zones near Fekola, and the Mamba zone in the Anaconda area. Highlights included: New high-grade drill results from the Cardinal and FMZ zones extend the mineralization to over 3.5 kilometres along strike, continuing to indicate potential for additional gold deposits near the Fekola mine, with additional potential at depth and along strike; Resource infill drilling completed at the Cardinal zone, with an initial Inferred Mineral Resource estimate expected in the first quarter of 2021; Additional high-grade drill intercepts at the Mamba zone extend the mineralized zone by over one kilometre, to a total known strike length of approximately 2.2 kilometres (20 kilometres north of Fekola); Resource infill drilling at the Mamba zone in the Anaconda area approximately 90% complete, with an updated mineral resource estimate for the Anaconda area expected by the end of the fourth quarter of 2020; and The Fekola deposit remains open to the north.
In 2020, B2Gold continued exploration drilling near Fekola and the Anaconda area with an $18 million program in Mali that focussed on exploration at the Cardinal and FMZ zones near the Fekola deposit which demonstrate potential for additional gold deposits within 3 kilometres of the Fekola mill, expanding the mineral resources within the Anaconda area, including the Mamba zone, and further testing the sulphide zones.
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 has been compensated forty six hundred dollars for news coverage of the current press releases issued by Kesselrun Resources Ltd. by the company. 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