Gold price rebounds as fresh banking crisis hits risk appetite

Consumption in the world's largest gold consumer rose 36.53% year-on-year to 1,120.9 tonnes.

New Found first encountered the Keats footwall in October 2021 when it drilled 3.4 metres grading 88.53 g/t gold.

“Gold is simply becoming a Fed policy mistake hedge,” one analyst said.

Osisko says the new zone displays silica alteration and pyrite with visible gold, similar to the Lynx zones at Windfall.

The company estimated its South African operations would meet their output and cost of production guidance, however.

The miner said labour absences fuelled by the latest covid-19 variant would have a greater impact on production than anticipated.

Its an attempt to reverse a 2017 land transfer that gave PolyMet more than 6,600 acres needed to build an open pit copper and gold mine.

The 100%-owned Chevrier property covers 275 sqkm of the Abitibi Greenstone Belt.

Gowest began drilling the Bradshaw deposit in 2010 and produced a prefeasibility (PFS) study in 2015.