Gold Prices Trend Higher Amidst Brusque International Politics

NEW YORK, March 22, 2021 /PRNewswire/ -- Gold prices were slightly up on Friday, as geopolitical tensions become a bit more prominent last week. It started with President Biden referring to Russian President Putin as a "killer" and then on Thursday at a U.S. - China ministerial meeting in Alaska, both sides lashed out at each other over various matters. In response to President Biden, Russia called its Ambassador to the United States back to Moscow for consultations on the future of U.S.-Russia ties. While not affecting the stock markets in any significant way, this week's moves by the Biden administration toward Russia and China are a clear indication that U.S. foreign-policy relations may not be as smooth with Biden as many had expected. Exploits Discovery Corp. (CSE: NFLD) (OTC: RNRRF), New Gold Inc. (NYSE: NGD), Agnico Eagle Mines Limited (NYSE: AEM), Osisko Gold Royalties Ltd (NYSE: OR), Sandstorm Gold Ltd. (NYSE: SAND)

The value of gold is difficult to predict, as it depends on many economic variables as well as on decisions made by the Federal Reserve. In addition, gold is often viewed as a safe haven in a time of economic and political uncertainties. Last week, gold headed for a second straight weekly advance, which was also helped by volatile stock markets that reinforced demand for the metal as a haven, even as Treasury yields continued rising.

Exploits Discovery Corp. (CSE: NFLD) (OTCQB: RNRRF) along with its exploration partner GoldSpot Discoveries Corp. just announced breaking news that it, "has defined three high priority drill targets through Goldspot's proven artificial intelligence (A.I.) machine learning and data analysis technology, which was instrumental in New Found Gold's discovery of the Keats and Lotto zones.

What we have done:

  • The True Grit Project hosts the GRUB Line, a deep seated gold bearing fluid conduit that crosses the Exploits sub zone and defines mineral pathways similar to the Appleton Fault, the Joe Batts Pond Fault and the Dog Bay Line.
  • In the last six months Exploits has undertaken:
    • A high resolution (100m spacing) airborne VTEM geophysical survey.
    • SGH soil grid analysis
    • Surficial structural mapping and sampling
    • Historic drill data compilation and modeling

Where we are going:

  • Goldspot has identified three high priority exploration targets using proven techniques similar to those used by GoldSpot for New Found Gold's Keats high grade epizonal gold discovery where they drilled 92.86 g/t Au over 19 metres.
  • The geophysical targets display a structural patterns of primary and secondary faulting, that is reinforced by results of SGH soil anomalies, structural mapping, sampling, and 3D modeling of historic shallow drilling.
  • The True Grit Property is road accessible and fully permitted for drilling in Spring of 2021. It is the first prospect in a series of five drill targets that Exploits is focused on drilling in the spring of 2021.

Michael Collins, president and chief executive officer of Exploits, commented: 'Exploits exploitation strategy is benefiting our shareholders. In only 6 months we have defined and filed drill permits on 5 projects. With our first permit at True Grit we have defined 3 new targets. That is based on a synthesis of new and old geological information by some of the best minds and A.I. in the business. We look forward to drilling at True Grit and applying our exploration model to the next 4 projects.'

The companies have identified 3 high priority drilling targets on the True Grit Gold Property. GoldSpot's data analysis techniques along with Exploits' historic data compilation, SGH soil survey, and preliminary results from the new high resolution airborne VTEM survey have clearly defined new gold targets for drill testing at True Grit.

The True Grit Project is host to the deep seated GRUB Line fault zone, a known conduit for gold mineralization and gold bearing fluids across the Exploits subzone. The preliminary results have identified a structural pattern of primary and secondary fault structures associated with the GRUB Line, similar to structures Goldspot identified on New Found Gold's Queensway South project.

Current evidence suggests that historical exploration drilling took place on the fringe of the identified targets and the gold intercepts discovered to date are potentially distal to the main mineralized bodies.

Target 1: 3D geological modeling of the historical drilling at True Grit indicates that veining may have a spatial/geometric association with metasediment rock units, coincident with north-south EM conductors. This target was poorly tested by shallow historic drilling that missed both the EM-sedimentary rock hosted anomaly as well as the SGH/Magnetic anomaly. This suite of features are usually expressed by rocks that have been broken up and subject to fluid flow. This structural preparation gives the host rock a higher capacity to host significant gold mineralization than the adjacent areas of known gold mineralization on the True Grit Project.

Untested Targets 2 and 3, were identified on a conductive northeast trending EM anomalies along a major fault structure.

Target 2: is a coincident magnetic high and conductive EM anomaly, overlaid by intersecting major north trending and northeast trending faults to the north of known low grade gold mineralization. It is the strongest of the three highlighted EM conductors and has the structural complexity to develop open spaces required for deposition of gold mineralization.

Target 3: is a coincident conductive EM signature and high priority SGH gold soil anomaly. The SGH gold soil anomaly is spatially associated with an interpreted northwest trending fault, defined by magnetic inversion data, and cross cuts the regional scale EM conductor. This interpreted structural network of primary and secondary structures is critical for the generation and emplacement of epizonal, orogenic gold mineralization.

The True Grit property is 100% owned by Exploits Discovery, subject to a 2% royalty with a 1% buy back for $1 million. It is easily accessible, located only two km west of the junction of the Harbour Breton (Route 360) and St. Alban's highways (Route 361) in the Baie d' Espoir area of Newfoundland's Exploits subzone.

*This press release contains information with respect to adjacent or similar mineral properties which the Company has no interest or rights to explore or mine. Readers are cautioned that the Company has no interest in or right to acquire any interest in any such properties on adjacent or similar properties are not indicative of mineral deposits on the Company's properties.

National Instrument 43-101 disclosure

Ian Herbranson, P.Geo, is Vice-President of Exploration for the company and qualified person as defined by National Instrument 43-101. Mr. Herbranson supervised the preparation of the technical information in this news release."

For our latest "Buzz on the Street" Show featuring Exploits Discovery Corp. recent corporate news, please head over to: https://www.youtube.com/watch?v=RusxTZjdhtE&ab_channel=FinancialBuzzMedia 

New Gold Inc. (NYSE: NGD) in their fourth quarter and annual operational results for the Company as of December 31st, 2020, reported achieving the mid-range of the revised annual production guidance. Total production for the fourth quarter was 120,567 gold equivalent1 (gold eq.) ounces (83,096 ounces of gold, 199,428 ounces of silver and 18.5 million pounds of copper). For the year, production was 437,617 gold eq. ounces (293,139 ounces of gold, 636,952 ounces of silver and 72.1 million pounds of copper), achieving mid-range of the revised annual production guidance. The Rainy River Mine produced 68,241 gold eq. ounces (66,734 ounces of gold and 127,390 ounces of silver) for the quarter. For the year, production was 233,201 gold eq. ounces (228,919 ounces of gold and 361,862 ounces of silver), achieving the higher end of the revised annual production guidance.

Agnico Eagle Mines Limited (NYSE: AEM) reported back in October quarterly net income of $222.7 million, or net income of $0.92 per share, for the third quarter of 2020. The increase in cash provided by operating activities in the third quarter of 2020, compared to the prior-year period, was mainly due to an increase in revenues from mining operations resulting from higher average realized gold and silver prices, and higher gold sales volume, offset by higher production costs from the Meadowbank Complex, the LaRonde Complex and the Meliadine mine as a result of higher throughput levels, and higher income and mining taxes related to higher operating margins in the quarter.

Osisko Gold Royalties Ltd (NYSE: OR) reported last month that the Canadian Malartic Partnership (the "Partnership"), comprising Agnico Eagle Mines Limited ("Agnico") and Yamana Gold Inc. ("Yamana"), have approved construction of the Odyssey underground project ("Odyssey") at the Canadian Malartic mine ("Canadian Malartic"). Sandeep Singh, President and CEO of Osisko commented, "The construction decision for the Odyssey underground project by Agnico and Yamana secures the Canadian Malartic mine as Osisko's flagship asset for decades. It is difficult to over emphasize the importance of this catalyst for Osisko as Canadian Malartic will continue to provide sustainable production until at least 2039, with significant upside beyond. We commend the Partnership for the exploration and engineering efforts that have led to this announcement."

Sandstorm Gold Ltd. (NYSE: SAND) announced earlier this year a 20% expansion of the mine and mill throughput at Fruta del Norte. Lundin Gold plans to commence construction in the first quarter of 2021. The expansion is expected to be completed with minimal disruption to operations and funded by cash flow from operations. Gold production guidance for Fruta del Norte in 2021 is estimated between 380,000 to 420,000 ounces. Mill production is estimated at an average of 3,500 tpd until the fourth quarter when production is planned to ramp up to 4,200 tpd following completion of the planned mill expansion. In 2021, Lundin Gold has planned an $11 million, 9,000 metre drilling program on two high priority exploration targets.

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