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.
Transition Metals (CVE: XTM) has confirmed new zones of gold mineralization at its Highland property 60 km northwest of Sydney, in the Nova Scotia’s Cape Breton Highlands.
Recent reverse circulation drilling confirmed strike and dip extensions to zone 6A. In zone 6B, a hole intersected 9.0 metres grading 6.14 g/t gold, including 2.0 metres at 25.46 g/t. These two zones are about 2 km east of the Main zone, where rotary air blast drilling returned 9.1 metres grading 23.22 g/t gold.
Transition planned the RC drilling program to investigate near surface showings accessible from MacMillan Road. The company tested large scale, secondary structures indicated by a geophysical survey flown in 2018.
(This article first appeared in the Canadian Mining Journal)
