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.
Bayhorse Silver (TSXV: BHS) recently announced that it started geological operations at its precious metals-rich Brandywine project in British Columbia, western Canada.
In a press release, Bayhorse said that its field team was able to confirm historic gold and silver drill hole locations and found the historic drill core. They also identified the width and strike of the partially mined Tedi zone.
The Brandywine deposit falls within a class of high gold-silver volcanogenic massive sulphide deposits
“The previously mined Quartz and Silver Tunnels have been located. From the Quartz Tunnel elevation at 607 metres through the Dave’s Pond mineralized zone, and up to the Tedi pit at 943 metres suggest a minimum vertical extent of 330 metres,” the media brief states. “The known reported strike length of 1.8 kilometres between the Quartz Tunnel and the Tedi pit is derived from past exploration, mineralization presence and former mining activity.”
According to the Burnaby-based company, reported production from the Tedi pit was 10,385 tonnes with recoveries of 23,054 ounces of silver, 11,045 ounces of gold, 363,386 pounds of lead, 352,424 pounds of zinc and 26,534 pounds of copper.
“After visiting Brandywine with our highly experienced geological team and seeing the easy access, with well-developed drill pads in place, and the ability to work year-round we believe the exploration will be very cost-effective,” Bayhorse CEO Graeme O’Neill said in the corporate media statement.
Brandywine is a 1,432-hectare brownfield project located some 14 kilometres south of the ski town of Whistler. It has undergone several mining and exploration phases including bulk tonnage shipments to smelters, extensive drilling, and extensive geochemical and geophysical studies.
