Hedge funds slash bullish wagers on gold before war jitters
Speculators have reduced net-long positions by 3.6%.
Vancouver-based Go Metals has identified several untested iron oxide-copper-gold targets at its 100% owned Monster property in the Dawson mining district.
Go Metals noted that the alteration and mineralization at Monster is similar to that of the Olympic Dam and Carapateena IOCG deposits in Australia. The mineralization consists of large hematitic breccia zone containing IOCG mineralization with high grades of copper and cobalt at the surface.
The company has completed a new high resolution ground gravity survey and 3-D inversion model of the mineralization. New gravity anomalies coincide with magnetic and induced polarization targets were discovered at Bloom and Beast. The Bloom target is now known to extend from the surface to depth [unspecified] and is 1 km wide. The Beast target is a 1.5-km wide blind gravity anomaly.
Go Metals is planning a rotary air blast and diamond drilling program for the sites.
(This article first appeared in the Canadian Mining Journal)
