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.
Vancouver-based Osprey Gold Development is planning to drill three of its five historic gold properties in Nova Scotia. The company can acquire a 100% interest in all five of the properties.
The Goldenville project in Guysborough County is Osprey’s most advanced project and the province’s largest historic gold producer. The project hosts inferred resources of 2.8 million tonnes at 3.20 g/t gold or 288,000 oz. of contained gold. The deposit is open to the east and northwest, and there are infill opportunities on the south limb.
Also at the Goldenville project is the Mitchell Lake zone that Osprey previously drilled. A broad zone of mineralization was drilled in 1997, including 0.5 metre of 0.70 g/t gold, including 8.10 metres of 1.10 g/t gold, and 9.40 metres of 1.02 g/t gold. A second hole cut 20.2 metres of 1.33 g/t gold.
At the Caribou property 80 km northwest of Halifax, Osprey has plans to drill the Elk zone. This property is 8 km north of the Touquoy mine and Moose River Consolidated mill site.
(This article first appeared in the Canadian Mining Journal)
