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.
Bayhorse Silver (TSXV: BHS) announced that its field team confirmed the presence of visible gold at the core of the Brandywine project in British Columbia.
In a press release, Bayhorse said that two 1.5-metre sections of the historic core, including unsampled sections, show multiple occurrences of visible gold.
“The entire core is being relogged and photographed prior to splitting, and submission for re-assay. Re-assayed core will be subject to metallic screen assay to resolve potential gold nugget effects,” the company’s media brief reads.
The miner also said that once permitting and additional financing are completed, it intends to conduct a larger VTEM airborne survey over Brandywine, and drill a minimum of four scissor holes across the DP zone to fully understand the orientation and depth of the gold-bearing zone.
“Based on a comprehensive review of historic reports, the company has dramatically expanded the Brandywine precious metals-rich VMS project near Squamish BC, to 1,500 hectares from 400 hectares. The project now includes areas west of the original claim group where historic rock samples included 9.15 g/t gold, 22 ppm silver, and 2% copper located 600 metres west of the original claims, and 0.12 ppm gold, 6.5 ppm silver and 0.4% copper located 1.4 kilometres west.”
