PALM BEACH, Florida, August 22, 2017 /PRNewswire/ --
From a recent article published on Bloomberg.com, in the midst of a tumultuous month in U.S. politics and global security, traders have pushed gold futures to near a nine-month high. But if the history of gold's relationship with oil is any guide, that surge may last longer than the flare-up in geopolitical tension. The precious metal has rallied 11 percent in 2017 to trade at $1,294.40, compared to a 10 percent slump in crude. Miners with developments and recent market performance of note include: StrikePoint Gold Inc. (OTC: STKXF) (TSX-V: SKP), Pretium Resources Inc. (NYSE: PVG) (TSX: PVG), Yamana Gold Inc. (NYSE: AUY) (TSX: YRI), Kinross Gold Corporation (NYSE: KGC) (TSX: K), Eldorado Gold Corporation (NYSE: EGO) (TSX: EDL).
StrikePoint Gold Inc. (OTCQB: STKXF) (TSX.V: SKP.V) is pleased to report encouraging initial assays from grab samples collected from across the Pluto Property in the Kluane Region of the Yukon Territory. A total of 68 surface sample assays have been completed to date by ALS Laboratories and results reflect the polymetallic nature of the Pluto property. Gold assays ranged from trace to 48.4g/t Au, including a separate sample of 36.3g/t Au. The highest-grade samples were collected from the Charon target, which is the current focus of a RAB drill program. Read this and more news for StrikePoint Gold at:http://www.marketnewsupdates.com/news/stkxf.html
Samples from within the same area also returned elevated copper values copper, with results ranging from trace to 1.23%. Copper mineralization appears to be localized in schist units, while gold is associated with arsenopyrite and pyrite within marble and skarn layers. Surface mineralization at Charon has a strike of 1.2km west to east, and 400m north to south, and is still open on all sides.
In addition to the gold and copper values, this latest set of results has returned silver assays from trace to 333g/t. The high grade silver sample runs 2.07g/t gold and represents a significant easterly step out of 2 km from the Charon Zone. Samples collected from between this location and the central Charon area are still pending assays.
Extensive mapping and study of the area since mid-July has shown that mineralization is not linked to a single skarn layer as initially thought, but instead there is evidence of multiple lithologically controlled beds that are stacked in section, with the presence of sulphide mineralization throughout. These units align well with resistivity/conductivity data gathered during a Ground Induced Polarization (IP) Survey by Groundtruth Exploration and are proving useful for drill targeting.
In other mining market performance of note from Monday:
Pretium Resources Inc. (NYSE: PVG) was up slightly in afterhours trading on Monday after closing down slightly at $8.55 on over 1.1 million shares traded by the market close. The Company released recent highlights from the second quarter of 2017 and commissioning updates for its high-grade gold Brucejack Mine. During commissioning in June and grade ramp-up in July a total of 25,392 ounces of gold were produced from low-grade stockpiles, development muck and, in July, the addition of stope ore. Gold sales have commenced. Pretium Resources maintains listings on the Toronto Stock Exchange (TSX: PVG.TO) and the New York Stock Exchange (PVG)
Yamana Gold Inc. (NYSE: AUY) closed up over 2% at $2.76 on Monday on over 9.5 million shares by the market close. Yamana Gold operates as a gold producer in Canada, Brazil, Chile, and Argentina. The company explores for precious metals, gold, silver, and copper. It primarily holds interests in the Chapada, El Peñón, Canadian Malartic, Gualcamayo, Minera Florida, Jacobina, and Brio Gold mines. Yamana Gold maintains listings on the Toronto Stock Exchange (TSX: YRI.TO) and the New York Stock Exchange (AUY).
Kinross Gold Corporation (NYSE: KGC) was up slightly in afterhours trading on Monday after closing up at $4.28 on over 7.9 million shares traded by the market close. Kinross is a senior gold mining company with mines and projects in the United States, Brazil, Russia, Mauritania, Chile and Ghana. Our focus is on delivering value-based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. Kinross maintains listings on the Toronto Stock Exchange (TSX: K.TO) and the New York Stock Exchange (KGC).
Eldorado Gold Corporation (NYSE: EGO) also was up slightly in afterhours trading on Monday after closing up at $1.91 on over 3.7 million shares traded by the market close. Eldorado Gold Corporation, together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, and Romania. The company also explores for iron, silver, lead, and zinc. Eldorado Gold Corporation maintains listings on the Toronto Stock Exchange (TSX: EDL.TO) and the New York Stock Exchange (EGO).
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