FinancialBuzz.com News Commentary
New York, NY (3/5/2021) – Markets tumbled Thursday after U.S. Federal Reserve Chair Jerome Powell reiterated a previous narrative to keep credit flowing until Americans are back to work. Some see this as a direct rebuttal of investors who have openly doubted that the Fed can stick to that plan after the pandemic. According to a report by Reuters, with vaccines rolling out and the government fiscal taps open, “there is good reason to think we will make more progress soon” toward the Fed’s goals of maximum employment and 2% sustained inflation, Powell told a Wall Street Journal forum. Yet, a major factor to consider is the anticipated gold miners’ production rebound in 2021. Kitco reports that the top 20 gold miners are projected to lose about 5% of their total 2020 gold output primarily due to the pandemic and related restrictions. However, in 2021, gold production is likely to rebound. “Based upon mid-point outlook projections, production will be ~6% more than a revised,” post guidance for 2020. Exploits Discovery Corp. (CSE: NFLD) (OTC: RNRRF), IAMGOLD Corporation (NYSE: IAG), Gold Resource Corporation (NYSE: GORO), B2Gold Corp. (NYSE: BTG), Kinross Gold Corporation (NYSE: KGC)
In addition to the pandemic and its economic implications, various recent technological innovations have had an impact on gold demand as well. Certain financial services, through which gold can be purchased, have shared recent developments designed to make gold trading easier and more accessible to a wider demographic. For example, the British-based Glint Pay Services announced a new peer-to-peer payment service which allows users to send various amounts of gold directly to each other, all within the company’s app. “Glint’s P2P technology enables gold, trusted globally, to be used as money in electronic payments beyond the existing fiat money system; it frees us all from the whims of government-issued currencies,” said Glint CEO and founder Jason Cozens.
Exploits Discovery Corp. (CSE: NFLD) (OTCQB: RNRRF) announced earlier this week that, “the Company has submitted drill permit applications for 4,500 metres of drilling at the Little Joanna and Quinlan Vein prospects within the Dog Bay Gold Project, Newfoundland.
Highlights
– Exploits has planned and submitted diamond drilling applications for 18 holes totaling a length of 4,500 metres across the Little Joanna Veins and Quinlan Veins prospects.
– 9 holes (2,250m) at the Little Joanna Veins, 9 holes (2,250m) at the Quinlan Veins prospects.
– The diamond drill applications are in addition to the applications submitted at the Schooner and Jonathan’s Pond prospects, totalling 10,500m over 33 holes across 4 prospects.
– Exploits drilling placement follows on the same targeting techniques used by New Found Gold Corp. in the discovery hole at the Keats Zone (19m of 94g/t Au) targeting secondary and tertiary displacement structures that are thought to be responsible for gold mobilization and concentration in the Exploits Subzone*.
*sampling on adjacent properties may not be representative of results from Exploits claims.
– Exploits inaugural drilling programs are to commence pending approval in Spring 2021.
Michael Collins, President and Chief Executive Officer of Exploits, commented: “The successful sampling campaign Exploits conducted in late 2020, coupled with the efforts of our inhouse team and partner GoldSpot Discoveries, has doubled our tier one drill targets to four across our projects in the Exploits Subzone. The Exploits team is excited to refine each high value target for drilling programs as we drive towards discovery in 2021.”
About 2021 Diamond Drilling
Exploits has identified 2 discrete targets, in addition to the 2 targets previously announced on February 2nd, within the Dog Bay Gold Project that are nearing drill ready status. These targets are the named the Little Joanna Veins and Quinlan Veins prospects. Drill permits have been submitted for each prospect totalling 18 holes for a combined length of 4,500 metres. 9 holes (2,250m) have been applied for at the Little Joanna Veins, targeting quartz veins with visible gold at surface that assayed up to 194 g/t Au. These veins are interpreted to be structurally controlled by a regional secondary, sub-parallel to the deep-seated Dog Bay Line fault zone, and an approximately 2 km long tertiary displacement fault, named the Little Joanna Fault. 9 holes (4,500m) were applied for at the Quinlan Vein prospect, targeting quartz veins with visible gold at surface, returning assays of up to 61.3 g/t Au and 189 g/t Ag. These veins are also interpreted to be structurally controlled by a regional secondary fault structure, stemming from the deep-seated Appleton Fault zone. Additional targets are located at the interpreted intersection of the aforementioned faults, testing possible structural dilations suitable for the deposition of gold. Both the Little Joanna Veins and Quinlan Veins targets are deemed analogous to New Found Gold’s Keats Zone due to the similarities in structural control and lithological host units.
While the permitting applications are being reviewed, Exploits plans to refine each target with follow up field work. Ground geophysics, outcrop mapping, and trenching are being planned to fine-tune each target to be drill ready once the permits have been approved.
The Little Joanna Veins and Quinlan Veins are located within a series of claims optioned from Eddie and Roland Quinlan, (the “Quinlan Option”), on August 20, 2020 where Exploits can earn a 100% interest by paying $220,000 cash and issuing a further 2.5 million common shares and $560,000 in either cash or common shares.
Quality Assurance – Quality Control (“QA/QC”)
All rock samples are collected by company personnel and bagged in the field with a sample tag for identification. The bags are sealed with tape and kept secure at a company facility until they are transported directly to the lab by Exploits staff.
All rock samples are analyzed at Eastern Analytical of 403 Little Bay Road, Springdale, NL, a commercial laboratory that is ISO/IEC 17025 accredited and completely independent of Exploits Discovery Corp. Eastern Analytical pulverized 1000 grams of each sample to 95% < 89 μm. Samples are analyzed using fire assay (30g) with AA finish and an ICP-34, four acid digestion followed by ICP-OES analysis. All samples with visible gold or assaying above 8.00 g/t Au are further assayed using metallic screen to mitigate the nugget effect of coarse gold, (Nugget effect may cause a significant spread in resulting assay values using a 30 gram fire assay). Samples in this report were run for Ore Grade Assay with multi-acid digestion with AA finish for samples above detection limit for silver…”
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IAMGOLD Corporation (NYSE: IAG) announced on January 29th, that it entered into a subscription agreement (the “Subscription”) with INV Metals Inc. (“INV”), pursuant to which IAMGOLD indirectly, through a wholly-owned subsidiary, acquired 4,848,287 common shares of INV (the “INV Shares”), from treasury, at a price of CAD 0.45 per INV Share, for gross proceeds totaling CAD 2,181,729. IAMGOLD acquired the INV Shares pursuant to the Private Placement for investment purposes. Depending on market conditions and other factors, IAMGOLD may, from time to time, further acquire or dispose of INV Shares, or maintain its current shareholdings, as it sees fit.
Gold Resource Corporation (NYSE: GORO) announced on February 2nd, that it has intersected additional mineralization up to 250 meters above current production area at the Don David Mine in Mexico With Intercepts Including 11.83 Meters Grading 17.56 G/T Gold and 10.04% Zinc-Lead Combined. “I recently had the opportunity to visit the Don David Mine and see firsthand the impressive Switchback and Arista vein systems,” stated Mr. Allen Palmiere, President and CEO of Gold Resource Corporation. “These drill results, which I expect will add resources to the mineral inventory, underscore the reasons for my attraction to Gold Resource Corporation and its highly prospective ground package. We are presently taking a holistic approach to understanding and further capitalizing on the foundations laid in the areas of safety, community relations, environmental stewardship, operational excellence and organic growth. These recent drill results support the Company’s renewed commitment to invest in Oaxaca, Mexico. Our exploration team continues to do an excellent job working to expand the Don David Mine’s high-grade mineralization.”
B2Gold Corp. (NYSE: BTG) announced last year that its entire inventory of limited-edition Rhino Gold Bars have been sold, generating approximately USD 1.7 Million to support community-backed black rhino conservation efforts in northwest Namibia. All dollar amounts are in United Sates Dollars unless otherwise indicated. The Rhino Gold Bar initiative began in early 2020 when B2Gold announced the ground-breaking donation of 1,000 ounces of gold produced from the Company’s Otjikoto mine in Namibia to support the preservation of the black rhino population in the country and the communities that protect them. Commenting on the Rhino Gold Bar initiative, B2Gold President and CEO Clive Johnson said: “We are mining gold that was deposited in Namibia over 500 million years ago and using it to save an animal that has been roaming the planet for 50 million years. This is a whole new way of looking at conservation financing—creative conservation for the future of our planet.”
Kinross Gold Corporation (NYSE: KGC) announced last September, that it has entered into agreements to acquire a 70% interest in the high-quality Peak Gold project in Alaska from Royal Gold, Inc. (“Royal Gold”) and Contango ORE, Inc. (OTCQB: CTGO) (“Contango”) for total cash consideration of USD 93.7 Million. Kinross will have broad authority to construct and operate the Peak Gold project, with Contango retaining a 30% non-operating minority interest. “The relatively high-grade, low-cost Peak Gold project is an excellent addition to our portfolio, as it allows us to leverage our existing mill and infrastructure at Fort Knox and strengthens our medium-term production and cash flow profile. In today’s gold price environment, Peak Gold is an attractive, high-margin project that is expected to generate robust returns,” said J. Paul Rollinson, Kinross Gold President and CEO. “The project is also expected to add to our strong record of socio-economic contributions to our host communities in Alaska, one of the top mining jurisdictions in the world.”
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Investors Await a Potential Rebound in Gold Production
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