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.
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