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.
X-Terra Resources of Rouyn-Noranda, Quebec, and the University of New Brunswick are collaborating on research and development that might be applied to X-Terra’s Grog and Northwest gold properties near the town of Campbellton.
Dr. David Lentz, UNB’s research chair in economic geology, will head the team. He has extensive experience in understanding the deposition of deposits in the province, including the Bathurst camp. His current interest is on the relationship between fertile granite emplacement and associated porphyry and skarn systems, particularly as they host copper-molybdenum-gold and tin-tungsten-molybdenum-gold mineralization.
Lentz said in a news release that the northern part of the province is an exciting area with recent grassroots success for both gold and base metals.
The Grog and Northwest properties have epithermal hydrothermal gold mineralization in a distinct geological environment unlike other orogenic gold-bearing quartz vein systems. No drilling has yet been done on either property. X-Terra has an option to earn 70% in the two properties.
X-Terra completed an induced polarization survey at the Grog project this summer.
(This article first appeared in the Canadian Mining Journal)
