Gold loses some luster after Trump’s decisive win
Gold’s slide is a marked turnaround for a commodity that had surged by more than 30% in the year leading up to the US vote.
Emgold Mining (TSXV:EMR) expanded the size of its recently optioned New York Canyon property in Nevada by staking 92 claims.
With the new addition, the Vancouver-based company now controls 152 unpatented and 21 patented mineral claims located in the Santa Fe Mining District, Mineral County, in the state’s west-central area.
Emgold acquired a 100% interest in New York Canyon in July 2019
Back in July, Emgold signed an option agreement to acquire a 100% interest in New York Canyon from Searchlight Resources. According to the miner, the acquisition includes a significant database of historic information that shows that, to date, 234 holes have been drilled, totalling 139,056 feet.
“Three main exploration targets, identified with historic drilling, include the Longshot Ridge, Champion, and Copper Queen areas. These targets host copper oxide skarn and sulfide porphyry-style copper/molybdenum mineralization,” the Canadian firm said in a press release.
In the same brief, Emgold said its geologists are in the process of inventorying and organizing historic information on the property. Once this work is done, they will develop a new exploration model and exploration plan.
