Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
UrbanGold Minerals (TSXV: UGM) announced this week that it is about to start a helicopter-borne geophysical survey on its 100%-owned StarGold property, located in Quebec, eastern Canada.
In a press release, UrbanGold explained that the 809-line-kilometre electromagnetic survey is designed to cover the entire property, and it is aimed at identifying the potential source of a large angular boulder from which grab samples reportedly analyzed 279 g/t gold along with variable amounts of silver, copper and zinc.
“The StarGold boulder is partially composed of massive sulphides which suggests that airborne electro-magnetics and magnetics are ideally suited to identifying its potential source,” the miner’s brief reads. “Except for a small ground electromagnetic survey located in the vicinity of the boulder location, the property has never been surveyed in its entirety.”
The Quebecois project occupies 6,318 hectares and is located 200 kilometres northeast of the town of Val-d’Or, in the area of the Urban-Windfall Gold Camp.
