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.
Commander Resources (CMD:TSX-V) announced Friday that it has granted Imperial Metals (TSE: III) an option to earn a 100% interest in seven mineral claims covering 3,331 hectares adjacent to the north and east boundaries of Imperial’s Mount Polley Mine in central British Columbia.
The Mount Polley Mine is an open pit copper gold producer with a mill capacity of approximately 20,000 tonnes per day and has been on care and maintenance since Imperial suspended operations in January.
Total consideration for the option is $250,000 staged over three payments, 90% due to Commander and 10% due to the arm’s length private company.
Target settings within the optioned claims include a potential northern projection of the high-grade Boundary Zone and Quarry Zone beneath a post-mineral conglomerate unit. Historical drilling within this area did not penetrate the younger conglomerate. A single line of Titan 24 deep-looking induced polarization survey indicates elevated chargeability zones at depth.
The western target is a partially tested glacial till covered area where regional magnetics suggests a faulted offset of the Mount Polley Intrusive complex, which hosts the Mount Polley orebody. A thick till covered prospective area immediately east of Imperial’s depleted Pond and Southeast Zone pits.
