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.
Troubadour Resources (TSXV: TR) announced that it has been granted a five-year, area-based exploration permit for its Texas property located in British Columbia, western Canada.
In a press release, Troubadour said the permit allows the company to build access trails, complete trenching and establish 50 drill pads on the project.
The company also said that, once it receives results from the field campaign completed in the fall of 2020, it will start running a phase-2 drill campaign to be completed in the first half of 2021.
The Texas property covers historical mineral showings and is located 3 kilometres southwest of the town of Beaverdell in the Greenwood Mining Division of southern BC. It is also close to the past-producing Beaverdell mine, which was in operation from 1896 to 1991.
According to Troubadour, the property covers ground prospective for vein-hosted precious metal deposits, based on at least seven historical and newly discovered gold occurrences and geological comparisons with the nearby Beaverdell mine.
