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.
Ethos Gold (TSXV: ECC) and Société d’exploration minière Vior (TSXV: VIO) announced that they have started a drill campaign on the Ligneris gold project, located 110 kilometres north of Val-d’Or, Quebec.
In a press release, the companies said two diamond drills are now on site and running, each targeting two different areas, namely the Central and the South zones. They expect to drill approximately 6,000 metres before year-end.
According to the companies, the mineralization at Ligneris is interpreted as an Archean-age, gold-rich volcanogenic massive sulphide system, geologically analogous to Agnico Eagle’s flagship Bousquet/LaRonde complex
In their press brief, the miners explained that the objective of this drilling program is to test the depth extensions of historical gold-bearing drill intercepts to approximately 600 metres, which coincide with well-defined geophysical chargeability anomalies.
The program is also aimed at testing some shallow-depth chargeability anomalies generated from the recently completed gradient induced polarization survey. Ethos and Vior report that the anomalies are located along strike with known strongly altered structural corridors.
“Previous drilling on Ligneris, almost 30 years ago, tested only the first 300 metres from the surface and intercepted multiple significant gold intervals,” Craig Roberts, Ethos’ president and CEO, said in the media release. “Many of the drill holes will now test the strong chargeability anomalies identified in the recent gradient IP survey below this gold mineralization.”
