Hedge funds slash bullish wagers on gold over Trump election win
Hedge funds and other large speculators boosted net-long positions by 11% to 197,362 as of Nov. 12, the lowest in 14 weeks.
Vancouver-based ATAC Resources (CVE: ATC) has announced the results of the Rau exploration project at the western end of the Rackla gold property 50 km northeast of Keno City, in Yukon, Canada. Work will be done to follow up on gold, copper and silver targets identified last year.
Initial hand pitting and prospecting returned a strongly anomalous copper-in-soil sample of oxidized polylithic fault breccia with 6.39% copper. Further prospecting 300 metres to the west returned siltstone cut by quartz veins containing 643 g/t silver.
“Mineralization styles vary throughout the Rau project, and demonstrate the potential for not just high grade gold discoveries, but an entire suite of strategic metals,” said ATAC president and CEO Graham Downs.
(This article first appeared in the Canadian Mining Journal)
