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.
Golden Ridge Resources reported drill results from the Ball Creek property, the highlight is an intercept from the Main zone returning 291.5 metres of 0.48 g/t gold, 0.14% copper and 0.95 g/t silver (0.66 g/t gold equivalent) starting at 15.5 metres.
The hole was drilled as a step out to prior drilling which traced Main zone mineralization over 1,300 metres of strike and over a width of 500 metres. The zone consists of a mineralized unit hosted in a porphyry complex.
Golden Ridge is currently earning an 80% interest in Ball Creek from Evrim Resources. There are a total of seven gold copper porphyry targets identified at the property with an additional four epithermal gold silver targets.
The company has also collected 4,500 soil and 60 rock samples from the site with results pending.
Ball Creek covers 52,442 hectares and surrounds the company’s fully owned 1,700 hectare Hank project within British Columbia’s Golden Triangle. The property is located 140 kms from Stewart.
(This article first appeared in the Canadian Mining Journal)
