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.
Osisko Mining released the results of infill and step out drilling foucused on the Lynx and Triple Lynx zones at its Windfall gold project 200 km northeast of Val-d O’or, Quebec.
Intercepts of note from infill and step out work completed on the Lynx zone include 3.3 metres of 491 g/t gold as well as 8.0 metres of 161 g/t gold. Underground infill drilling on Lynx also returned an intercept of 2.7 metres of 267 g/t gold.
According to the company, Triple Lynx is infilling very well.
Osisko holds the 12,400 ha. Windfall Lake property with current indicated resources of 2.87 million tonnes grading 8.17 g/t gold for a total of 754,000 oz. and inferred resources of 10.35 million tonnes at 7.11 g/t gold for 2.37 million oz. The Lynx areas currently contribute 456,000 oz. in the indicated category and 625,000 oz. in the inferred category.
Twenty two drills are currently working on the Lynx and Triple Lynx zones with an additional two drills working on other parts of the deposit.
The company holds over 2,700 sq. km of ground within projects along the Bank fault in Quebec.
(This article first appeared in the Canadian Mining Journal)
