Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
ATAC Resources of Vancouver is starting the first phase of exploration at its Rau project, at the western edge of the Rackla gold property 55 km northeast of Keno City. The current program will follow up on high grade gold-copper-silver results from last year.
Phase one at Rau includes ground based induced polarization (IP) and magnetic surveys over a 12 km2 area including the Bobcat target and the Rackla Pluton. Detailed geologic mapping and hand sampling will be done. About 4,000 metres of diamond and rotary air blast (RAB) drilling is planned.
The Bobcat target previously returned grab samples grading 6.07 g/t gold with 7.41% copper and 7.37 g/t gold with 5.90% copper.
Additional reconnaissance-scale mapping, soil sampling and prospecting will be conducted to refine other targets including the 2.2-km gold-in-soil spotlight target.
(This article first appeared in the Canadian Mining Journal)
