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.
Melkior Resources Inc. (MKR – TSX Venture) announced assay results from six new holes from the 2011 diamond drill program on its 100% owned Carscallen gold project, located 5 kilometres west of the Timmins Gold Deposit and recent Thunder Creek gold discovery. All holes intersected multiple intervals of anomalous gold mineralization; the highlight was hole CAR-71-2011, which intersected one of the widest, high-grade gold intercepts to date from the property and returned 13.25 metres at 5.10 g/t gold from the Shenkman Zone at a vertical depth of 200 metres. The current drill program intersected a second mineralized quartz porphyry dyke proximal to the Shenkman Zone which provides an additional target for future testing. Hole CAR-67-2011 tested the ZamZam Zone and the remaining five holes tested the Shenkman Zone. Assays from seven holes of the recently completed program are still pending.
