Canadian Mining Journal

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CANADIAN PERSPECTIVE: High price lures gold hunters

Gold hit a high of US$1,061/oz on the LME on Oct. 20, 2009. Although it has backed off since then, falling tow...



Gold hit a high of US$1,061/oz on the LME on Oct. 20, 2009. Although it has backed off since then, falling toward US$1,025 as the end of the month drew near, it remains strong.

 

The Aden sisters are again on the bandwagon. They recently offered two scenarios, one that would see gold reach US$4,100/oz and a second that would put it at US$5,800 during the next market run-up. Those are heady numbers, indeed!

 

To spur exploration activity, there is nothing like the promise of rising gold prices.

Prospectors and juniors are busy across the country, with the possible exceptions of Alberta, Nova Scotia and Prince Edward Island. Predictably, many are looking in areas of past production of which there are many in Canada.

 

Over the past few weeks the news of such projects has increased in volume, far outnumbering news from the hunt for other commodities. Let’s take a brief look at some of them.

 

Company

Site

Project

Notes

Amador Gold

QC

Horwood

183.5 g/t grab sample

Aurizon Mines

QC

Casa Berardi

59.4 g/t over 7.0 m

Bravo Venture

BC

Homestake Ridge

6.1 g/t over 42.4 m, incl. 13.0 & 19.5 g/t over 11.9 m

Britannica/Northern Star

QC

McKenzie Break

U/G exploration drift begun

Canasia/Teuton

BC

Clone

44.75 g/t over 12.8 m

Comaplex

NU

Meliadine West

24.6 g/t over 10.3 m. New 43-101 planned

Diamonds North

NU

Amarluk

24 g/t grab sample

Golden Band

SK

Thunder & Lightning

6.62 g/t over 10 m, incl. 112 g/t over 0.3 m

Golden Predator

BC

Brewery Creek

5.39 g/t over 2.0 m.

Golden Share

ON

Pistol Lake

25.5 g/t grab sample

Grizzly Diamonds

BC

Greenwood

9.41 to 99.6 g/t grab samples

Hawthorne Gold

BC

Taurus

28.6 g/t over 1.18 m

Hinterland Metals


QC

Lockout

5.2 g/t over 2.0 m

International Wayside

BC

Bonanza Ledge

10.7 g/t over 70.9 m, incl. 19.0 g/t over 38.7 m

Merc International

NWT

Damoti Lake

12.97 g/t over 3.0 m

Metals Creek

ON

Dogpaw

720 g/t grab sample

Northern Abitibi

NL

Viking

23.4 g/t over 1.1 m & 1.5 g/t over 27.6 m

Northern Star

QC

Malartic-Midway

8.35 g/t over 2.2 m in drift

Osisko Mining

QC

Malartic CHL

New discovery: 8.6 g/t over 15 m

Planet Exploration

ON

Sidace Lake

10.1 g/t over 2.8 m

Premier Gold Mines

ON

Hardrock

49.81 g/t over 6.0 m, incl. 291 g/t over 1.5 m

Q-Gold/Upper Canyon

ON

Nipigon Area

16.68 g/t over 9.3 m & 11.39 g/t over 5.5 m

Queenston Mining

ON

McBean

3.1 g/t over 57.7 m & 5.9 g/t over 11.8 m

RT Minerals

ON

Golden

4.73 g/t grab sample

Rubicon Minerals

ON

Phoenix

80.7 g/t over 0.7 m & 457.4 g/t over 0.5 m

San Gold

MB

Rice Lake

New discovery: 86.1 g/t over 2.7 m, incl. 208.2 g/t over 0.9 m

Sola Resource

BC

Dash

10.3 g/t over 1.5 m & 2.0 g/t over 9.0 m

Stratabound/Castle

NB

Elmtree

2.43 g/t over 29 m

Swift Resources

BC

Amazing Grace

37.3, 53.9 & 85.6 g/t grab samples

Tyhee Development

NWT

Yellowknife

13.12 g/t over 10.0 m, incl. 38.88 g/t over 2.0 metres

Underworld Resources

YK

Golden Saddle

3.68 g/t Au over 91.3 m

VG Gold

ON

Paymaster West

1,390 g/t over 0.9 m

 

 

Every company on this long, but far from complete list, deserves praise. The gold is out there, and they have found the money to look for it. Hopefully, this is the beginning of more accessible capital for juniors.