Donlin Gold LLC ("Donlin Gold"), owned 5050 by Barrick Gold Corporation ("Barrick") (TSX: ABX) (NYSE: GOLD) and NOVAGOLD RESOURCES INC. ("NOVAGOLD") (TSX, NYSE American: NG), is pleased to report the initial assay results for the 2022 drill program.
Barrick President and Chief Executive Mark Bristow said, "as expected, the drill program for 2022 continues to enhance our understanding of the ore bodies that make up the Donlin project. Also encouraging is that this year's drilling campaign is ahead of schedule and results so far support the most recent modelling concepts as we focus on moving the project toward a feasibility study decision. I look forward to the Donlin Gold workshop in Alaska in September to advance these efforts."
Greg Lang, NOVAGOLD's President and CEO, said, "The 2022 drill program has been extremely exciting, not to mention rewarding. With the latest set of assays, we continue to enjoy some of the best gold intercepts in the mining industry. The outstanding results reported today, such as the high-grade at ACMA and the deep exploration work, further substantiate Donlin Gold's potential, and the recent modelling concepts, in support of the strategic mine planning work and the engineering studies. We have significantly de-risked Donlin Gold over many years, taking it up the value chain so as to improve and enhance the value of the project for all our stakeholders. This progress is demonstrated through our commitment and dedication to building trust and transparency with our Alaska Native Corporation partners, Calista Corporation and The Kuskokwim Corporation, with whom we have created a model for responsible mining development."
Dan Graham, General Manager of Donlin Gold added, "Donlin Gold's top priorities continue to be the health and safety of our people following the best practices in environmental stewardship for the benefit of the people of Alaska. We could not be more pleased with the work of our 2022 Donlin Gold site crew. While exceeding productivity rates and running ahead of schedule, the overall morale of employees has been high and our safety record has remained strong. Moreover, we are most gratified to report that, during the program, the majority of our 150 employees and contractors were local hires from 24 Y-K communities in Alaska."
The prime focus of our activities this year is to undertake a 34,000-meter drill program with tight-spaced grid drilling as well as in-pit and ex-pit exploration; and to input the results from this drilling into the geologic modelling and interpretation work that is being used for updated resource models. In June, the Donlin Gold LLC Board approved an additional 43 drill holes and 8,380 meters to infill one of the 20-meter grids to 10-meter spacing. In addition to the engineering studies underway to support the mining schedules and life of mine business plans, this program will enable us to proceed with the preparation of an updated feasibility study, subject to a formal decision by the Donlin Gold LLC Board.
Following the excellent results of 2021, we are encouraged by the expanded drill program for 2022, with drilling also focused on upside prospects in the ACMA and Lewis pits where drilling so far has been limited. The new assays we received have thus far yielded some outstanding intercepts, with the five top intervals released today being:
The 2022 budget for Donlin Gold LLC (on a 100% basis) is set at $60 million, split equally between the two owners. The focus is to refresh geologic modelling and interpretation work for an updated resource model as well as engineering activities to inform an updated feasibility study decision. Approximately 34,000 meters of in-pit and below-pit drilling was planned under the original scope, in addition to fieldwork, for the Alaska Dam Safety Certifications, environmental studies, and external affairs efforts. An additional $4.8 million (100% basis) was approved by the Donlin Gold LLC Board for the additional 8,380 drill meter workplan.
The owners will continue to advance the Donlin Gold project as they have done for many years in a financially disciplined manner with a clear focus on a strong safety culture, engineering excellence, environmental stewardship, and active community engagement.
The Donlin Gold project is located in Alaska, the second largest gold-producing state in the United States. With approximately 39 million ounces of gold grading 2.24 grams per tonne in the measured and indicated mineral resource categories (100 percent basis) 1 , Donlin Gold hosts one of the largest and highest-grade undeveloped open-pit gold endowments in the world. The planned pits in which the existing resources are sited occupy only three kilometers of an eight-kilometer mineralized belt, which itself is located on less than 5% of Donlin Gold's land position. Current activities at Donlin Gold are focused on the drill program, optimization efforts, community outreach, and advancing the remaining State permitting actions.
Donlin Gold is a committed partner to the Alaska Native communities both surrounding the project and within the State as a whole. This commitment underpins our approach and is also reflected in the way in which the asset itself is structured. An important factor that distinguishes Donlin Gold from most other mining assets in Alaska is that the project is located on private land designated for mining activities under the 1971 Alaska Native Claims Settlement Act (ANCSA). Donlin Gold has entered into life-of-mine agreements with Calista, which owns the subsurface mineral rights and some surface land rights, and The Kuskokwim Corporation (TKC), a collection of 10 village corporations, which owns the majority of surface land rights. Donlin Gold is committed to providing employment opportunities, scholarships, and preferential contract considerations to Calista and TKC shareholders. The life-of-mine agreements include a revenue-sharing structure established in the context of the ANCSA, which resolved Alaska Native land claims and allotted some 44 million acres of land for use by Alaska Native Corporations. Additionally, our long-term commitment to economic development in the Y-K region is exemplified by Donlin Gold's support of TKC's initiative to launch energy and infrastructure projects in middle Kuskokwim villages. These partnerships, activities, and programs are illustrative of Donlin Gold's commitment to sustainable and responsible development of the project for the benefit of all stakeholders.
FIGURE 1 Drill Hole Collar Locations
Depicted grid system is based on NAD83 UTM zone 4N coordinates. Longitudinal Section View orientation below taken at A – A' orientation depicted above.
FIGURE 2 Longitudinal Section View of the ACMA and Lewis Deposits
The QA/QC procedures for the 2022 Donlin Gold project drill program and sampling protocol were developed and managed by Donlin Gold and overseen by Barrick and NOVAGOLD. The chain of custody from the drill site to the sample preparation facility was continuously monitored. All samples are HQ-diameter core. Approximately 94% core recovery has been achieved during the 2022 drill program. Core was logged, cut, and sampled at site by Donlin Gold employees. Samples were primarily collected on one- to two-meter lengths. Sampled half-core was crushed in Bureau Veritas' Juneau and Fairbanks, Alaska sample preparation facilities. Crushed samples were sent to Bureau Veritas' lab in Vancouver, British Columbia for pulverizing and gold assays and pulverized splits to an ALS Limited lab in Vancouver, British Columbia for multi-element analysis. Quality control samples were inserted (standards at 5% of primary samples, blanks at 5% of primary samples and duplicates at 2.5% of primary samples) into each batch of samples. The review of the quality control samples did not indicate any bias or error. Out of bounds quality control samples were handled with appropriate reruns and investigations. There are no known factors that would materially affect the accuracy or reliability of the drill program data referred to in this media release.
Downhole directional surveys were completed on all reported completed holes by Boart Longyear drill operators, and collar surveys were completed by Donlin Gold staff under the supervision of Professional Licensed Surveyors from Brice Engineering LLC.
Each of Bureau Veritas, ALS Limited, Boart Longyear, and Brice Engineering LLC are independent of Donlin Gold, Barrick, and NOVAGOLD.
In mid-2021, NOVAGOLD engaged Wood Canada Limited ("Wood") to update the Second Updated Feasibility Study on Donlin Gold completed in 2011 (the "2011 Technical Report"). This update resulted in a report titled "NI 43-101 Technical Report on the Donlin Gold Project, Alaska, USA" with an effective date of June 1, 2021 (the "2021 Technical Report"). In 2021, NOVAGOLD also engaged Wood to prepare a Donlin Gold technical report summary in accordance with Subpart 229.1300 of Regulation S-K – Disclosure by Registrants Engaged in Mining Operations ("S-K 1300") as of November 30, 2021. The resulting report is titled "S-K 1300 Technical Report Summary on the Donlin Gold Project, Alaska, USA" ("S-K 1300 Report"), current as of November 30, 2021. Wood incorporated 2020 costs and new gold price guidance to meet the NOVAGOLD's reporting requirements. The resultant 2021 Technical Report and S-K 1300 Report showed no material change to the previously reported mineral resources or mineral reserves.
NOVAGOLD is a registrant with the SEC and is reporting its Mineral Resources and Mineral Reserves in accordance with S-K 1300 as of November 30, 2021. While the S-K 1300 rules are similar to National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") rules in Canada, they are not identical and therefore two reports have been produced for the Donlin Gold project.
Certain scientific and technical information contained herein with respect to the Donlin Gold project is derived from the 2021 Technical Report and the S-K 1300 Report. Henry Kim, P.Geo., Senior Resource Geologist, Wood Canada Limited; Mike Woloschuk, P.Eng., VP Global Business Development & Consulting, Wood Group USA, Inc.; and Kirk Hanson, MBA, P.E., Technical Director, Open Pit Mining, Wood Group USA, Inc. are the Qualified Persons responsible for the preparation of the 2021 Technical Report, and each is an independent Qualified Person as defined by National Instrument 43-101 ("NI 43-101"). Wood prepared the S-K 1300 Report.
Paul Chilson, P.E., who is the Manager of Mine Engineering for NOVAGOLD and a Qualified Person under NI 43-101, has approved and verified the scientific and technical information related to the 2021 and 2022 Donlin Gold project drill programs, the 2021 Technical Report and the S-K 1300 Report contained in this media release. To verify the information related to the drilling programs, he has visited the property in the past year; discussed logging, sampling, and sample shipping processes with responsible site staff; discussed and reviewed assay and QA/QC results with responsible personnel; and reviewed supporting documentation, including drill hole location and orientation and significant assay interval calculations.
Octavia Bath, P.Geo., who is a Barrick Mineral Resource Manager and a Qualified Person under NI 43-101 has reviewed and approved the assay results for the Donlin Gold project contained in this media release.
Barrick Contacts: Kathy du Plessis Investor and Media Relations +44 20 7557 7738 Email: barrick@dpapr.com Kevin Annett CFO, North America Tel: +1 416-307-3660 www.barrick.com NOVAGOLD Contacts:
Mélanie Hennessey Vice President, Corporate Communications Tel: +1 604-669-6227 or 1-866-669-6227 Email: info@novagold.com www.novagold.com
Cautionary Note Regarding Forward-Looking Statements
This media release includes certain "forward-looking information" and "forward-looking statements" (collectively "forward-looking statements") within the meaning of applicable securities legislation, including the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are frequently, but not always, identified by words such as "expects", "anticipates", "believes", "intends", "estimates", "potential", "possible", and similar expressions, or statements that events, conditions, or results "will", "may", "could", "would" or "should" occur or be achieved. Forward-looking statements are necessarily based on several opinions, estimates and assumptions that management of Barrick and NOVAGOLD considered appropriate and reasonable as of the date such statements are made, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, included herein are forward-looking statements. These forward-looking statements include statements regarding assay results; the anticipated timing of a decision by the Board of Donlin Gold LLC to prepare a feasibility study update; anticipated benefits from recent drill programs including an improved geological model for Donlin Gold; the work program for the 2022 field season; the continuing priorities of Donlin Gold, including the health and safety of our people; ongoing support provided to key stakeholders including Native Corporation partners; the potential impact of the coronavirus global pandemic (COVID-19) on the development of Donlin Gold; the potential development and construction of Donlin Gold; the sufficiency of funds to continue to advance development of Donlin Gold; perceived merit of properties; mineral reserve and resource estimates; Donlin Gold's ability to secure the permits needed to construct and operate the Donlin Gold project in a timely manner, if at all; and legal challenges to Donlin Gold's existing permits. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements are not historical facts but instead represent the management expectations of Donlin Gold's, Barrick's and NOVAGOLD's estimates and projections regarding future events or circumstances on the date the statements are made.
Important factors that could cause actual results to differ materially from expectations include the need to obtain additional permits and governmental approvals; the timing and likelihood of securing permits; the need for additional financing to explore and develop properties and availability of financing in the debt and capital markets; the spread and impact of COVID-19; uncertainties involved in the interpretation of drill results and geological tests and the estimation of reserves and resources; exploitation and exploration successes; changes in national and local government legislation, taxation, controls or regulations and/or changes in the administration of laws, policies and practices, expropriation or nationalization of property and political or economic developments in the United States or Canada; the need for continued cooperation between Barrick and NOVAGOLD for the continued exploration, development and eventual construction of the Donlin Gold project; the need for cooperation of government agencies and native groups in the development and operation of properties; risks of construction and mining projects such as accidents, equipment breakdowns, bad weather, disease pandemics, non-compliance with environmental and permit requirements, unanticipated variation in geological structures, ore grades or recovery rates; unexpected cost increases, which could include significant increases in estimated capital and operating costs; fluctuations in metal prices and currency exchange rates; whether a positive construction decision will be made regarding Donlin Gold; and other risks and uncertainties disclosed in Barrick's most recent Form 40-F/Annual Information Form on file with the United States Securities and Exchange Commission (SEC) and Canadian provincial securities authorities, and NOVAGOLD's most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports and other documents filed by Barrick and NOVAGOLD with applicable securities regulatory authorities from time to time. Copies of these filings may be obtained by visiting NOVAGOLD's website at www.novagold.com , Barrick's website at www.barrick.com , or the SEC's website at www.sec.gov , or at www.sedar.com . The forward-looking statements contained herein reflect the beliefs, opinions, and projections of Donlin Gold, NOVAGOLD, and Barrick on the date the statements are made. Donlin Gold, NOVAGOLD and Barrick assume no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.
TABLE 1 Drill Hole Orientations* and Depths
* Note that azimuth and inclination values vary as each hole progresses. The stated values are hole averages, rounded to the nearest degree.
TABLE 2 2021 Donlin Gold Significant Assay Intervals
Significant intervals represent drilled intervals and not necessarily true thickness of mineralization. Mineralized intervals meet or exceed 3 meters in length above 1 g/t. A maximum of 4 meters of continuous dilution (
1 Donlin Gold data as per the 2021 Technical Report and S-K 1300 Report (both as defined herein). Donlin Gold possesses Measured Resources of approximately 8 Mt grading 2.52 g/t and Indicated Resources of approximately 534 Mt grading 2.24 g/t, each on a 100% basis and inclusive of Mineral Reserves, of which approximately 4 Mt of Measured Resources and approximately 267 Mt of Indicated Resources inclusive of Reserves is attributable to NOVAGOLD through its 50% ownership interest in Donlin Gold LLC. Exclusive of Mineral Reserves, Donlin Gold possesses Measured Resources of approximately 1 Mt grading 2.23 g/t and Indicated Resources of approximately 69 Mt grading 2.44 g/t, of which approximately 0.5 Mt of Measured Resources and approximately 35 Mt of Indicated Resources exclusive of Mineral Reserves is attributable to NOVAGOLD. Donlin Gold possesses Proven Reserves of approximately 8 Mt grading 2.32 g/t and Probable Reserves of approximately 497 Mt grading 2.08 g/t, each on a 100% basis, of which approximately 4 Mt of Proven Reserves and approximately 249 Mt of Probable Reserves is attributable to NOVAGOLD. Mineral Reserves and Resources have been estimated in accordance with NI 43-101 and S-K 1300.
Figures accompanying this announcement are available at
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Precipitate Gold Corp. (TSXV:PRG) has launched its campaign on the Investing News Network’s resource channel.
Precipitate Gold is a mineral exploration company with district-scale strategic land positions in the Dominican Republic. The company is currently advancing its Pueblo Grande and Juan de Herrera projects in the Dominican Republic, where the company is also working to expand its existing portfolio. Precipitate Gold always works to acquire 100 percent of the properties that it owns, ensuring that there are no outstanding vendor payments or working commitments.
Precipitate Gold’s current projects are strategically located in highly-prospective and active gold and copper mining camps in the Dominican Republic. The company’s flagship Pueblo Grande project is next to Barrick Gold (TSX:ABX) and Newmont Goldcorp’s (TSX:NGT,NYSE:NEM) Pueblo Viejo mine, which is the eighth-largest gold mine in the world and the largest gold mine operating in Latin America. Pueblo Viejo is projected to produce approximately 600,000 ounces of gold at an all-in sustaining cost of US$650 per ounce in 2019.
Precipitate Gold’s company highlights include the following:
Click here to learn more about Precipitate Gold Corp. (TSXV:PRG) and to request an investor presentation.
Beauce Gold Fields Inc. (TSXV:BGF) has launched its campaign on the Investing News Network’s resource channel.
Beauce Gold is a gold exploration company focused on placer and hard rock exploration in the Beauce region of southern Quebec. Beauce is using a model similar to that used in the Klondike and Cariboo gold districts with the hopes that the model will allow the company to trace the placer gold back to its source, sparking a new gold rush. The Beauce region was home to Canada’s first gold rush in 1860, which was host to the largest historical placer gold deposit in the eastern half of North America.
The Beauce Gold region’s historical significance is part of the reason both major and junior mining companies are paying close attention to the area. Major gold companies like Barrick Gold (TSX:ABX), Newmont Mining (NYSE:NEM) and Osisko Gold Royalties (TSX:OR) have all made previous investments in the Klondike and Cariboo, leading juniors to believe there is significant potential for mergers and acquisitions in the future. In the meantime, Beauce Gold is expected to continue to explore the Beauce Gold project. The company recently completed a large-scale gravimetric survey over the fault on the property, revealing that the fault extends over 4.5 kilometers in alignment with other placer gold mines.
Beauce Gold’s company highlights include the following:
Click here to connect with Beauce Gold Fields (TSXV:BGF) for an Investor Presentation.
Antler Hill Mining (TSXV:AHM.H) has launched its campaign on the Investing News Network’s resource channel.
Antler Hill is a junior exploration company in the process of acquiring two properties in San Juan Province, Argentina. The country is viewed as a mining-friendly jurisdiction thanks to the federal government’s clear support of the mining industry through pro-mining tax incentives. The Amiches gold–silver project is located in the El Indio gold belt approximately 100 kilometers south of Barrick Gold’s (TSX:ABX,NYSE:GOLD) Veladero mine. Amiches remains predominantly unexplored with small trenching and sampling projects previously conducted on the property. In 2018 Antler Hill collected grab samples that graded 15 g/t gold and 190 g/t silver as well as 3.3 g/t gold and 70 g/t silver.
Antler Hill’s second project is a copper-gold-molybdenum property that was previously drilled, revealing copper porphyry mineralization. Historical drill results have returned 20 meters grading 0.47% copper, 0.21 g/t gold and 248 ppm molybdenum, as well as 10 meters grading 0.65% copper, 0.26 g/t gold and 246 ppm molybdenum. Antler Hill is lead by Chairman Matthew Wood, who has over 25 years of experience in the mining industry.
Antler Hill’s company highlights include the following:
Click here to see the educational profile for Antler Hill (TSXV:AHM.H) and to request an investor presentation.
Kinross Gold Corporation (TSX:K; NYSE:KGC) ("Kinross" or the "Company") today announced the appointment of Claude Schimper as Executive Vice-President and Chief Operating Officer, effective immediately. Paul Tomory, Executive Vice-President and Chief Technical Officer, will be leaving the Company on August 31, 2022 to pursue new opportunities.
In his new role, Mr. Schimper will be responsible for the operational success of the Company's recently re-positioned portfolio, with approximately 70% of Kinross' production now based out of the Americas.
Mr. Schimper has more than 30 years of mining experience and first joined Kinross in 2010, holding progressively more senior operational roles within the Company, most recently as Executive Vice-President, Operations with oversight of the Russia and West Africa regions. He was also Vice-President and General Manager, Kupol before assuming the leadership of the Company's Russia region in 2014. Previous to Kinross, Mr. Schimper was the Chief Operating Officer for Balkan Resources Inc., and also held positions at Placer Dome, Canada, and several South African mines including AngloGold Ashanti's Mponeng gold mine. Mr. Schimper received a South African National Higher Diploma in Metalliferous Mining from the Technikon Witwatersrand in Johannesburg, South Africa.
"With this new appointment, Claude will take charge of our re-positioned portfolio, and bring an enhanced focus on our operational commitments while continuing to prioritize safety. He is a veteran of this industry whose significant experience and insights will be invaluable as we look to further optimize our operations to ensure we safely deliver on our goals," said J. Paul Rollinson, President and Chief Executive Officer. "On behalf of our employees and the Board, I would like to thank Paul Tomory for his leadership and many important contributions to Kinross, from the successful completion of the Tasiast Phase One expansion, to the development of our major project pipeline, and wish him success in his future endeavours."
Ned Jalil will take on an expanded role as Senior Vice-President, Technical Services, to lead Kinross' Technical Services function, reporting directly to Paul Rollinson. He will oversee project development, exploration, geology, mine planning, operations strategy and the supply chain functions, bringing his technical expertise and over 25 years of international leadership and experience in strategic operations and engineering to his role. Mr. Jalil rejoined Kinross in January 2022, having previously held various leadership roles, most notably directing the strategic planning and technical services of the Company's tier one Paracatu mine and delivering the site's successful asset optimization initiative. Most recently, he served as Chief Operating Officer at Atlantic Nickel and Mineração Vale Verde, where he oversaw the Santa Rita nickel mine and the Serrote copper project.
"These new appointments will enhance oversight of our operations, projects and technical services groups as we optimize our re-positioned portfolio and move ahead with our growth strategy," said Mr. Rollinson. "With the increased operational technical bench strength and expertise on our leadership team, we will be prioritizing thoughtful, balanced planning to consistently deliver on our commitments. These commitments include an expected production increase next year and an average of two million gold ounces of production per year over the remainder of the decade."
Kinross is a Canadian-based global senior gold mining company with operations and projects in the United States, Brazil, Mauritania, Chile, Ghana and Canada. Our focus on delivering value is based on our core principles of responsible mining, operational excellence, disciplined growth and balance sheet strength. Kinross maintains listings on the Toronto Stock Exchange (symbol:K) and the New York Stock Exchange (symbol:KGC).
Media Contact Louie Diaz Vice-President , Corporate Communications phone: 416-369-6469 louie.diaz@kinross.com
Investor Relations Contact Chris Lichtenheldt Vice-President, Investor Relations phone: 416-365-2761 chris.lichtenheldt@kinross.com
Cautionary statement on forward-looking information
All statements, other than statements of historical fact, contained or incorporated by reference in or made in this presentation, including but not limited to any information as to the future performance of Kinross, constitute "forward looking statements" within the meaning of applicable securities laws, including the provisions of the Securities Act (Ontario) and the provisions for "safe harbor" under the United States Private Securities Litigation Reform Act of 1995 and are based on expectations, estimates and projections as of the date of this presentation. Forward-looking statements contained in this presentation include, without limitation, statements with respect to guidance for production and project development. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Kinross as of the date of such statements, are inherently subject to significant business, economic, legislative and competitive risks and uncertainties and contingencies. Many of these risks and uncertainties and contingencies can affect, and could cause, Kinross' actual results to differ materially from those expressed or implied in any forward looking statements made by, or on behalf of, Kinross. Such risks and uncertainties include, but are not limited to: operational or technical difficulties in connection with development, mining or processing activities; the volatility of prices of gold and silver; uncertainty of mineral reserve and mineral resource estimates; the speculative nature of gold exploration and development including, but not limited to, the risks of obtaining necessary licenses and permits; foreign exchange rate fluctuations; and risks associated with operating in foreign jurisdictions, including government relations risks. There can be no assurance that forward looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. All of the forward looking statements made in this presentation are qualified by these cautionary statements, and those made in our filings with the securities regulators of Canada and the U.S., including but not limited to those cautionary statements made in the "Risk Factors" section of our most recently filed Annual Information Form, the "Risk Analysis" section of our FYE 2021 Management's Discussion and Analysis, and the "Cautionary Statement on Forward-Looking Information" in our news release dated July 27, 2022, to which readers are referred and which are incorporated by reference in this presentation, all of which qualify any and all forward ‐ looking statements made in this presentation. These factors are not intended to represent a complete list of the factors that could affect Kinross. Kinross disclaims any intention or obligation to update or revise any forward ‐ looking statements or to explain any material difference between subsequent actual events and such forward ‐ looking statements, except to the extent required by applicable law.
Source: Kinross Gold Corp oration
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Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) has released its Quarterly Cash Flow Report.
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This article includes content from Challenger Exploration, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Challenger Exploration (ASX: CEL) (“CEL” or the “Company”) is pleased to provide its Quarterly Activities Report for its Gold and Copper projects in Argentina and Ecuador for the period ended 30 June 2022 (“Quarterly”, “Reporting Period”).
Net spend during the quarter was $10.0m which included net exploration expenditure of $9.2 million, including approximately $1.7m Argentinian VAT which will be recouped, and administration and corporate costs of approximately $0.8 million. The exploration expenditure was primarily drilling and assay expenditure which accounted for 80% of the total exploration spend. Director associated fees of $100,000 was paid to related parties. During the quarter the Company had 9-rigs at Hualilan for 37,036 metres drilled and 2 rigs completing 6,440 metres in Ecuador for total drill metres of 43,476 metres.
Challenger had cash at the end of the quarter of $10.4m. With 201,500 metres of the 204,000 metre drill program at Hualilan now completed, the rig count has been decreased to from 9 -rigs to 3-rigs in Argentina with the 2-rigs maintained in Ecuador. Quarterly budgeted drill metres are approximately one third of the June quarter. Accordingly net spend for the next two quarters will reduce significantly.
Assay results for 53,000 metres of drilling at Hualilan that remain pending are anticipated to be received progressively over the next 4 months. The lesser rig count at Hualilan will allow the company the resources to undertake an extensive program of surface channel sampling, as several roads installed for drill rig access at Hualilan have uncovered surface mineralisation. Additionally, the Company will begin economic studies once the updated Hualilan MRE, that will be based on the entire 204,000 metre drill program, has been completed.
The drill program in Ecuador will remain unchanged with both rigs focussed on the main discovery zone at the GY-A anomaly, El Guayabo, from August. This additional 25,000 metres is designed to produce a maiden MRE in accordance with the JORC Code from the 100% owned GY-A anomaly.
Cerro Sur Looking north showing drill rig access roads both into the Hualilan Hills and on the plains
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New team makes strong start with reviews of gold and lithium assets delivering highly promising results; Assays pending on spodumene-bearing pegmatite samples; Lithium and gold drilling programs being planned
Kairos Minerals Limited (ASX:KAI) is pleased to present its quarterly report for the period ending in June 30, 2022.
Kairos’ flagship, the 100 per cent-owned Mt York Gold Project, located 1.5 hours drive south of Port Hedland, was the focus of exploration work during the quarter. Final results from the 2021 RC drilling program comprising 95 drill holes were received and announced during the quarter.
This programme concentrated on the main Mt York Trend comprising Main Hill, The Gap, Breccia Hill and Gossan Hill but also included drilling the satellite deposits of Old Faithful, Green Creek, Iron Stirrup, Zakanaka and Batavia.
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This article includes content from Kairos Minerals , licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
It can be tempting for investors to focus on specific assets, but it’s important to include some diversification to act as a hedge and balance out potential instability.
For many market participants, gold has a reputation for being a reliable investment diversifier due to the fact that it has the ability to act as a hedge against volatility.
Here’s a look at how the yellow metal allows for diversification and why it is a good hedge, plus an explanation of how to use gold as a portfolio hedge.
The yellow metal is looked at as a hedge investment in many different situations, but to understand why it can be a good hedge, it’s useful to break down what exactly a hedge is. A hedge is an investment position whose main purpose is to offset potential losses or gains related to another asset.
The first and most popular use of gold as a source of protection is when investors use it to hedge against the decline of a currency, typically the US dollar. When the dollar slips, the yellow metal not only becomes less expensive to hold, but also tends to rises in value.
“Gold’s relationship with the dollar is determined by US-based gold supply and demand, as well as by the status of the dollar as the reserve currency globally,” states the World Gold Council. “Historically, a weak dollar tends to provide a stronger boost to gold’s performance than the drag created by a strong dollar.”
By holding the precious metal as a diversification tool when the economy negatively affects currencies, investors can incur gains from the metal’s increased value.
Additionally, gold can also act as a defense against inflation. This is the second reason why gold makes a good hedge — its resilience in the face of inflationary environments. When the cost of living begins to rise, the stock market tends to plunge. In those cases, investors with assets that are negatively affected by a volatile market need something to balance that out — that’s where gold comes in.
Over the past 50 years, investors have seen gold make huge gains when the stock market is crumbling. As Investopedia points out, “This is because, when fiat currency loses its purchasing power to inflation, gold tends to be priced in those currency units and thus tends to arise along with everything else.”
Interestingly, the yellow metal has also been used as a hedge against deflation. This situation has not occurred since the Great Depression of the 1930s (and to a much smaller degree after the 2008 financial crisis); it happens when prices drop, the economy is in a downturn and excessive debt looms.
Market participants may decide to hoard cash in this type of scenario, and the safest place to hold cash is in gold. Again, while this situation is not commonplace, many investors keep the yellow metal in their portfolios on the off chance that another massive period of deflation takes place.
Finally, gold investing can be used as a general portfolio hedge when market participants hold investments that are not related to one another. Since the precious metal has a history of having a negative correlation to stocks, bonds and other financial instruments, investors often diversify by owning a portfolio that combines gold with stocks and bonds in order to reduce both volatility and risk.
While it is true that the yellow metal goes through times of volatility, its spot price has always maintained its value over the long term, making it a steady addition to investors’ portfolios.
Investors who have decided to add gold to their portfolio as a hedge have a variety of options. Here’s a look at three of the most popular ways of getting exposure to the yellow metal.
Physical gold investors are generally looking for 0.999 fine items. Several products fit this description, and one of the most preferred is gold bullion coins, such as the South African Krugerrand or the American Gold Eagle. Another option is gold rounds, which are similar to coins, but are not legal tender.
Gold bars are another popular option. They come in a variety of sizes, so this category of products can accommodate a range of investors.
Large investments may best be made in bars since bigger sizes are available. Further, it is often easier to manage large products than it is to manage an array of smaller gold items.
Gold buyers will want to keep their plans to sell in mind — for example, large products may be more difficult to sell in some instances. Individuals making ongoing or significant investments may therefore want to consider purchasing gold in various weights.
If you are looking to purchase physical gold as a hedge in your portfolio, it can be done through government mints, private mints, precious metals dealers and even jewelry stores.
Click here to learn more about physical gold as an investment.
One of the common ways in which investors add gold as a hedge is through investing in a gold ETF.
Gold ETFs trade like stocks on an exchange and offer exposure to different aspects of the gold market. For instance, some ETFs focus solely on physical gold bullion, while others focus on gold futures contracts. Still others focus on the gold-mining market itself or follow live prices for the metal.
It is important to keep in mind that investors who own gold ETFs do not own any physical gold — even gold ETFs that track physical gold generally cannot be redeemed for tangible yellow metal.
Nonetheless, gold ETFs are a good option for getting exposure to the precious metal without personally trading physical gold, gold futures or gold stocks.
Click here for a list of five popular gold ETFs, and here for more information on gold ETFs.
A futures contract is an agreement to buy or sell gold on a date in the future for a price determined when the contract is initiated. The futures market is often referred to as an arena for paper trading. The bulk of the activity is just that, as metal is not actually exchanged and settlements are made in cash.
In some cases, the futures market can be an arena for purchasing physical gold. However, obtaining gold through the futures market requires a large investment and involves a list of additional costs. The process can be complicated, cumbersome and lengthy, which is why this option is considered best for highly experienced market participants.
Click here to learn more about gold futures.
This is an updated version of an article first published by the Investing News Network in 2019.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.
B2Gold Corp. (TSX: BTO), (NYSE AMERICAN: BTG), (NSX: B2G) ("B2Gold" or the "Company") will release its second quarter of 2022 financial results after the North American markets close on Wednesday, August 3, 2022.
B2Gold executives will host a conference call to discuss the results on Thursday, August 4, 2022 , at 10:00 am PDT / 1:00 pm EST . You may access the call by dialing the operator at +1 (778) 383-7413 / +1 (416) 764-8659 ( Vancouver / Toronto ) or toll free at +1 (888) 664-6392 prior to the scheduled start time or you may listen to the call via webcast by clicking here . A playback version will be available for two weeks after the call at +1 (416) 764-8677 (local or international) or toll free at +1 (888) 390-0541 (passcode 652410 #).
B2Gold is a low-cost international senior gold producer headquartered in Vancouver, Canada . Founded in 2007, today, B2Gold has operating gold mines in Mali , Namibia and the Philippines and numerous exploration and development projects in various countries including Mali , Colombia , Finland and Uzbekistan .
On Behalf of B2GOLD CORP. " Clive T. Johnson " President & Chief Executive Officer
For more information on B2Gold, please visit the Company website at www.b2gold.com or contact:
Senior Vice President, Legal & Corporate
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