Gold steadies as traders weigh outlook for Fed rate cuts
Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.
Toronto-based Barkerville Gold Mines has received assays from 50 more of the 231 holes it drilled last year at the Cow Mountain gold property in its flagship Cariboo gold project in British Columbia. High grade mineralization within vein corridors and extensions down dip and down plunge was identified.
The best hole assayed 8.70 g/t gold over 3.4 metres, including 169.50 g/t over 0.5 metre. The next best was CM-18-153 that intersected 8.96 g/t gold over 8.6 meters, including 17.40 g/t over 0.9 meter, 9.35 g/t over 0.5 meter and 33.30 g/t Au over 0.7 meter.
Barkerville launched the 2018 Cow Mountain program to infill and expand high grade vein corridors modeled in the resource estimate made in May last year. The corridors have been defined from surface to 300 metres deep and are open at depth and down plunge.
This article originally appeared in the Canadian Mining Journal.
