Higher supplies to the UK lift Swiss October gold exports
Supplies from Switzerland to Britain in October reached the highest level since June 2021.
Initial drilling on its Gold Rock project has produced some promising intercepts, Midway Gold (TSX-V:MDW) reported today. The company said drills have intercepted 33.5 meters of 2.06 grams per tonne (gpt) gold, including 7.6 meters of 4.18 gpt gold, in drill hole GR11-05. Additional intercepts include 48.8 meters of 0.96 gpt gold in drill hole GR11-07, and 18.3 meters of 0.82 gpt gold in drill hole GR11-03.
COO and President Ken Brunk said:
“Midway has identified gold mineralization from historic drill data that extends for almost 3 km along strike north and south of the previously mined Easy Junior pit. The historic resource represents only a small portion of the area and is confined to only about 0.6 km of strike length around the existing open pit. Our 2011 drilling program is designed to verify the location and grade reported in the historic holes so we can use those results in an NI 43-101 resource estimate that will cover an area substantially larger than that of the reported historic resource. We believe Gold Rock could host a gold deposit that is comparable in size to our nearby Pan gold deposit, but with a potentially higher average grade. This large amount of historic drilling, once verified, could allow Midway to more quickly move this property toward a development stage.”
Easy Junior was reported to contain 344,770 ounces of gold in 13.5 million tonnes, at a grade of 0.8 gpt, in a 1988 resource estimate.
