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.
Quebec-based Bonterra Resources continues to intersect bonanza grades – 101.1 g/t over 3.9 meters – at its Gladiator project as it proceeds with step out drilling about 170 km northeast of Val d’Or.
Gold mineralization is now known to extend at both the Barbeau and North zones. The 101.0 g/t result came from the Barbeau zone about 50 metres down plunge of the known mineralization. A second hole in the North zone returned 8.1 g/t over 1.8 metre.
Bonterra is also drilling from surface and underground at the Moroy property 1 km from the operating Bachelor gold mine 90 km northeast of Lebel-sur-Quevillon. Core from Moray has assayed 12.8 g/t gold over 5.6 metres, 12.1 g/t over 5.4 metres, and 3.6 g/t over 2.3 metres. The deposit is open both at depth and along strike.
Drilling at the Barry project 100 km east of Lebel-sur-Quevillon and 115 km south of the Bachelor mine has extended known mineralization along strike and at depth in several zones. Assays included 8.7 g/t gold over 1.5 metres, 6.1 g/t over 2.0 metres, 6.3 g/t over 1.5 metre, and 5.9 g/t over 1.5 metre.
This story first appeared in the Canadian Mining Journal
