Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Premier Gold Mines (TSX: PG) has kicked off an exploration campaign at its 100%-owned Hasaga project in Ontario’s Red Lake district.
In a press release, the miner said this program is testing the expansion of the Hasaga “C Zone” and “D Zone” target areas where drilling has delineated significant high-grade mineralization down plunge of the historic Howey and Hasaga mines. Collectively, the two mines produced more than 640,000 ounces of gold between 1930 and 1957.
Hasaga’s current mineral resource estimate, completed in early 2017, hosts over 1.1 million ounces of gold in the indicated cateogry and 0.6 million ounces of gold in the inferred category
According to Premier, a new discovery located 500 metres west of the C Zone yielded intercepts of 8.0 m of 9.55 g/t Au (HMP162) and 6.0 m of 13.67 g/t Au (HMP172).
“The C Zone deposit remains open at depth and down plunge, and the 2017 D Zone discovery suggests the presence of a significant gold deposit,” Stephen McGibbon, Premier’s executive VP, said in the brief. “Our previous drilling campaigns have confirmed the substantial potential of this property located in the heart of one of the world’s most respected high-grade gold camps. Numerous intercepts host common visible gold within attractive geometries.”
Hasaga is host to the past-producing underground Hasaga, Buffalo and Goldshore mines. The property is being evaluated for both near-surface lower-grade for open-pit potential as well as at depth higher-grade mineralization.
