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.
Gatling Exploration (CVE: GTR) has shared new drill results from its initial program at the Cheminis deposit, part of the Larder Lake project in the Cadillac-Larder Break in Ontario. A second drill rig at the site returned core that assayed 12.3 g/t gold over 5.0 metres, including 18.1 g/t over 3.0 metres from hole GTR-19-0010.
The three holes drilled by Gatling cut gold mineralization within 50 metres of the surface.
The past-producing Cheminis mine has more than 3,000 metres of underground development on six main levels and a shaft. The gold-bearing units have been traced on the surface for over 400 metres along strike. The South Flow zones A and C were drilled this summer. The winter program will drill the down plunge extension of the South Flow zone D.
At market close on Wednesday, Gatling’s stock was up over 9%. The company has a C$18.9 million capitalization.
(This article first appeared in the Canadian Mining Journal)
