Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
Granada Gold Mine is encouraged by the results of a new two stage gravity concentration from its Granada gold project near Rouyn-Noranda. Mineralized material that had only 1.01 g/t gold was successfully upgraded to 67.99 g/t.
The pre-concentration study was conducted at the pilot plant of Canada Cobalt Works in Gowanda, Ont.
The test was done on a 120-kg sample of low-grade material from the mine’s waste dump. After the first pass through the gravity circuit, the concentrate contained 12.04 g/t gold. The second pass created a concentrate with 67.99 g/t gold plus 62.80 g/t silver, 0.07% cobalt, 0.04% nickel, and 0.12% copper.
Granada is preparing a summer drill program to test targets near the pit constrained resource. Geological work will also be done to identify additional targets.
So far, a measured and indicated resource of 22.3 million tonnes averaging 1.06 g/t gold for 762,000 oz. and an inferred resource of 6.9 million tonnes grading 2.04 g/t gold for 455,000 oz. have been identified.
(This article first appeared in the Canadian Mining Journal)
Comments
ThaOracle
What if I were to tell you …….. WOW, sounds great if your primary objective is to produce and sell “grade”. As recovery is not mentioned and was probably sub 50%, one can only deduce this article was written/edited by geologists