Gold Prices Edge Higher as the Economic Recovery Remains Uncertain

NEW YORK, March 25, 2021 /PRNewswire/ -- Gold and silver prices modestly increased on Wednesday. April gold futures were last up USD 5.70 at USD 1,730.80 and May Comex silver was last up USD 0.103 at USD 25.33 an ounce. Economically, the U.S. is on track to recover into next year, with the help of the government's relief program. Yet, the pandemic and the subsequent partial economic shutdown have had some severe consequences.  Janet Yellen, Secretary of the Treasury, explained that "1 in 10 homeowners with a mortgage are behind on their payments and almost 1 in 5 renters are behind on their rent. There are 22 million people who say they don't have enough food to eat. 1 in 10 adults are hungry in America. I looked at data like these and I worried that the COVID economy was going to keep hurting millions of people now and haunt them long after the health emergency was over." Exploits Discovery Corp. (CSE: NFLD) (OTC: RNRRF), Alamos Gold Inc. (NYSE: AGI), Coeur Mining, Inc. (NYSE: CDE), DRDGOLD Limited (NYSE: DRD), Golden Star Resources Ltd. (NYSE: GSS

Even though there is a gradual easing of all the restrictions and businesses are slowly starting to reopen, the actual economic repercussions from the current pandemic and measures taken to combat it are still unclear. The value of gold is problematic to forecast, as it contingent on many economic variables as well as on decisions made by the federal reserve. Nevertheless, gold investments are frequently regarded as safe haven in a time of economic and political turmoil.

Exploits Discovery Corp. (CSE: NFLD) (OTCQB: RNRRF) Outlined yesterday its, "drilling targets at the Jonathan's Pond Project (the "Project") located in the Exploits Subzone, Newfoundland. The Company also announces that it will hold an online special investors meeting March 25th, 2021 (See details below). 

Highlights

  • Exploits defined two high priority targets at the Jonathan's Pond Gold Project JP Vein, and a 2-kilometre long demagnetized fault zone.
  • The JP Vein target contains high grade gold in quartz veining up to 28 g/t Au, low grade gold in wall rock returning 0.44 g/t Au over 5 meters, including 1 meter at 0.80 g/t Au in trenching, and a further 300 metres of anomalous unexplored strike length of gold indicated by Spatiotemporal Gas Hydrocarbon (SGH) soil samples.
  • The 2-kilometre fault zone is a demagnetized geophysical target located 1.3 km northeast of the highest documented cluster of heavy mineral concentrate (HMC) samples on the island of Newfoundland and 1.6 km northeast of a float boulder that assayed 700 g/t Au (Keats, 2004).
  • These targets are a high priority for the Spring 2021 drilling program.

Exploits identified two high priority target areas on the Jonathan's Pond Gold Project through late 2020 trenching, outcrop mapping, SGH soil sampling, and geophysical analysis. The JP Vein received the majority of the 2020 field work that resulted in the identification of the gold bearing phase of quartz veining and its structural orientation, with samples assaying up to 28 g/t Au. The SGH soil sampling results over this area coincided with this orientation and opened up a further 300 metres of additional unexplored strike length to be followed up on.

The structural information collected during outcrop mapping allowed for a detailed geophysical analysis of historic high resolution airborne magnetic data over the Project. A series of tight folds were defined with an apparent 2-kilometre demagnetized secondary fault. This secondary fault displays the preferred orientation similar to the gold bearing phase of quartz veining as seen at the JP Vein. Demagnetized "destruction" fault zones are important in orogenic gold systems as it demonstrates fluids potentially carrying gold have propagated through this structural conduit and replaced the magnetic minerals with non-magnetic alteration minerals, such as sericite (mica). This target is located 1.3 km from the highly elevated, historic gold in till samples (New Found Gold Corp., 2017).

Michael Collins, President & Chief Executive Officer of Exploits, commented: "Jonathan's Pond has delivered great targets for us that are backed by solid geology field work with high grade assays and large scale structures to be targeted."

'We also welcome you to join us tomorrow for a live discussion on the history and outlook of the prolific Exploits Subzone, also known as the Newfoundland Gold Belt. We will also joined by Al and Kevin Keats and Gary Lewis, who have played an instrumental part in the identification of Jonathan's Pond and other targets within the Exploits Subzone Gold Belt.'

About Jonathan's Pond Targets

Jonathan's Pond is a 100% Exploits owned gold Project located along Highway 330, 17 kilometres north of Gander, Newfoundland. Situated along the Gander River Ultramafic Belt (GRUB) Line Fault Zone, the Project hosts gold in heavy mineral concentrate (HMC) till anomalies with 24 samples ranging from 720 to 410,000 ppb Au, float boulder samples up to 700 g/t Au, and outcrop samples up to 28.0 g/t Au in quartz veins. In December 2020, Exploits acquired an additional 11.25 square kilometres of land from New Found Gold Corp. This consolidated the Project area allowing uninhibited exploration on the identified targets.

Trenching and outcrop mapping efforts Exploits undertook in the fall of 2020 at the JP Vein helped move the Project along in the understanding of geology, structure, and gold mineralization style. Outcrop grab and channel sampling has highlighted that the high-grade gold mineralization is localized to late-stage quartz veining, associated with a third phase of structural deformation. Trenching highlighted the presence of lower grade gold mineralization in host rock that returned 0.44 g/t Au over 5 meters, including 1 meter at 0.80 g/t Au, in altered gabbro. This indicates the high-grade gold in quartz veins may be contained within a lower grade envelope in the host rock. SGH soil sampling results were also consistent in the orientation of the anomalous gold in SGH signature to the high-grade gold in quartz vein orientation, outlining a further 300-metres of unexplored strike length…"

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

Alamos Gold Inc. (NYSE: AGI) reported on January 27th, new results from surface and underground exploration drilling at the Island Gold Mine, further extending high-grade gold mineralization in Island Main, East and West.  "These latest results conclude another successful drilling campaign in 2020. Despite not completing as much drilling as planned due to COVID-19, the 2020 program included some of the best exploration results drilled to date at Island Gold. We expect these results to drive further growth in high-grade Mineral Resources at Island Gold with our 2020 year end update, improving already attractive economics with the Phase III shaft expansion, while also clearly demonstrating the significant ongoing growth potential of the deposit," said John A. McCluskey, President and Chief Executive Officer.

Coeur Mining, Inc. (NYSE: CDE) announced last year, details of the expansion of its Rochester silver-gold mine in Nevada, reflecting significant reserve growth and the benefits of a larger-scale expansion project.  "The expansion of Rochester represents the Company's single largest organic growth opportunity," said Mitchell J. Krebs, Coeur's President and Chief Executive Officer. "The combination of significant reserve growth, the scope of the expansion project to leverage economies of scale and the benefit of higher and faster silver recoveries from HPGR technology is expected to generate an internal rate of return of over 30%. Importantly, the project is supported by a technically sound foundation with robust economics that helps drive an anticipated step-change in Coeur's cash flow profile."

DRDGOLD Limited (NYSE: DRD) reported on October 27th, in an operational update for the quarter ended 30 September 2020, a 45% quarter-on-quarter increase in gold production to 1 514kg, due primarily to a 27% increase in tonnage throughput to 7 260 000t and a 15% increase in yield to 0.209g/t.  Gold sold increased by 60% to 1 522kg.  As a result, cash operating costs per kilogram of gold sold decreased by 10% to R489 750/kg. Cash operating costs per ton of material processed increased by 2% to R104/t.

Golden Star Resources Ltd. (NYSE: GSS) filed on March 1st, a National Instrument 43-101 technical report which includes a mineral reserve and resource update and a preliminary economic assessment of the potential expansion of the Southern Extension zone in the Wassa underground gold mine in Ghana. "In 2020, we focused on improving our geological confidence in the orebody through an extensive infill drilling program which has resulted in a significant increase in our measured resource and proven reserve. Converting the open pit reserve at Wassa to an underground reserve allows us to bring production from those areas forward with a lower upfront capital cost. Development of the Upper Mine will start to deliver production from 2023 and will provide a second decline access to the mine which can be incorporated into the long term mine design.

Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia

Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz

Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz

Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/

About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For exploits discovery corp. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com

Media Contact:
info@financialbuzz.com
+1-877-601-1879
www.FinancialBuzz.com

 

Cision View original content:http://www.prnewswire.com/news-releases/gold-prices-edge-higher-as-the-economic-recovery-remains-uncertain-301255747.html

SOURCE FinancialBuzz.com

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.