Issued on behalf of Yukon Metals Corp.
VANCOUVER – USA News Group – Gold prices are already high, but with the final results yet to be counted in the US federal election, and a U.S. Federal Reserve policy meeting on the horizon, the precious metal’s price is likely to continue to rise. Analysts at Goldman Sachs predict gold price records to shatter, expecting gold to hit $3,000 by year-end 2025. How this is impacting the mining sector is nuanced, with issues arising in Africa for miners dealing in both Ghana and Burkina Faso, all the while gold mining giants such as Newmont are struggling to capitalize on the high-price gold market. As investors brace for stock volatility in the wake of the election, analysts at Barron’s are signalling that gold mining stocks are currently a bargain. Outside of the mainstay mining giants are several mining exploration and/or development companies and mid-tier producers with recent developments, including from Yukon Metals Corp. (CSE: YMC) (OTCQB: YMMCF), Westgold Resources Limited (TSX: WGX) (OTCQX: WGXRF), Equinox Gold Corp. (NYSE-American: EQX), NOVAGOLD Resources Inc. (NYSE-American: NG) (TSX: NG), and OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF).
The article continued: Analysts at CBS News have labeled gold mining stocks to have significant upside potential at the moment. This sentiment is echoed by analysts cited by Benzinga, who highlighted that gold mining stocks have surged for nine consecutive sessions, reaching their highest levels since August 2020.
Electromagnetic Survey Identifies Multiple Strong Targets Coincident with Elevated Gold and Silver at Star River
Yukon Metals Corp. (CSE: YMC) (OTCQB: YMMCF), a well-financed mining exploration company, today announced an exploration update on its 715-hectare Star River Project, located approximately 50km south of Ross River, Yukon. Within the update, Yukon Metals reported that Aurora Geosciences of Yellowknife, NWT, had completed ground-based Gravity and Time Domain Electromagnetic (TDEM) surveys at the Star River property to assist in target definition and support drill hole planning, and identified four prominent conductive zones in the process—three in areas coincident with historic mineral showings, and one zone in the north in an underexplored area.
“We are excited to report multiple compelling targets with strong electromagnetic responses coincident with gold and silver sampling featuring up to 101 grams per tonne gold,” said Rory Quinn, President and CEO of Yukon Metals. “These targets are not only strong anomalies, they are large anomalies, and will help focus our exploration efforts to maximize our chances of adding substantial value to the project through drilling.”
The Aurora Geosciences team completed 20.6 kilometers of surveying with 100m line spacing, adding extra detail with 50m infill lines over the F3 showing area. They used three large 500m x 500m ground loops to cover key areas, including Saddle, F2, Canyon, and F3. The models created represent possible metal-rich zones based on EM responses, though they assume flat, simplified shapes that may miss some geological details. Ongoing work aims to refine these models by adding more geological data to better understand subsurface structures.
Yukon Metals owns 100% of the Star River base and precious metals project accessible by all-season road from the Robert Campbell Highway and adjacent to the former Ketza Mine haul road. The project is host to multiple showings of polymetallic carbonate replacement mineralization and quartz-sulphide veins first discovered in the 1950s. Remnants of underground and surface workings using historical exploration techniques are visible around much of the property and tied together with previously established access roads and trails branching from the Ketza Mine road.
The update comes just three weeks after Yukon Metals provided another update on its 2,285-hectare Birch project, which included rock-chip float samples that returned up to 2.42% copper with up to 0.94 g/t gold, and other samples with gold values of up to 6.64 g/t.
CONTINUED… Read this and more news for Yukon Metals Corp. at: https://usanewsgroup.com/2024/10/01/the-yukon-an-untapped-mining-powerhouse/
In other industry developments and happenings in the market this week include:
Westgold Resources Limited (TSX: WGX) (OTCQX: WGXRF), a Western Australian focused explorer, developer and miner of gold, recently announced an update from ongoing resource development drilling at its Bluebird-South Junction mining complex in Meekatharra, Western Australia, which included a drill intercept of 13.71m at 18.02 g/t gold.
“The Bluebird-South Junction mine is rapidly becoming the key growth driver of Westgold’s Murchison portfolio,” said Wayne Bramwell, Managing Director and CEO of Westgold. “Our team is mining the Bluebird and South Junction Lodes now and with intercepts like 13.71m @ 18.02g/t Au from the Polar Star Lode we see a third mining opportunity rapidly emerging. The system remains open and with further drilling Polar Star has the potential to expand mine outputs towards 1.5Mtpa.”
The aim of this program, which commenced in mid-January 2024 and to date has totalled some 34,525m of drilling from surface, is to test and define the down-plunge extents of the multiple orebodies. This system historically produced +1Moz from open pits and is currently being mined from underground by Westgold.
Equinox Gold Corp. (NYSE-American: EQX), a mining company engaged in the exploration, acquisition, development, and operation of mineral properties in the Americas, recently announced an operations update at its Greenstone Gold Mine in Ontario, Canada.
“Since commencing operations, the Greenstone Mine has demonstrated good progress with both mining and processing rates increasing substantially during Q3 and into October,” said Greg Smith, President and CEO of Equinox Gold. “The Greenstone team is focused on systematically ramping up both mining rates and plant throughput during the fourth quarter as the mine continues to progress toward design capacity. With approximately 42,500 ounces of gold produced in Q3 and 59,000 ounces produced since pouring first gold in May, we estimate 2024 production for Greenstone at 110,000 to 130,000 ounces.”
The mine is rapidly expanding its first-phase open pit, increasing daily mining rates from 76,000 tonnes in July to 125,000 tonnes in September, with peaks over 180,000 tonnes. October had averaged 145,000 tonnes per day, nearing the Q4 goal of 170,000. The current fleet includes 25 CAT 793 trucks, multiple drills, shovels, and loaders, with additional trucks and an excavator set for early 2025.
NOVAGOLD Resources Inc. (NYSE-American: NG) (TSX: NG), a mining company focused on exploration and development of gold mineral properties in the USA, recently reported its Q3 2024 financial results, which were topped off by a strong treasury position of approximately $106 million in cash and term deposits. NOVAGOLD continued to highlight its progress on its flagship Donlin Gold Project towards an updated Feasibility Study, and ensuring community involvement and government engagement to sustain the project’s social license.
“During the third quarter of 2024, Donlin Gold advanced key activities to position the project to update technical work and cost estimates,” said Gregory A. Lang, President and CEO of NOVAGOLD. “Principal activities included the advancement of metallurgical test work at a pilot plant in Ontario, Canada to confirm proposed optimizations to the flowsheet (with completion expected by year-end), as well as updated resource modelling by the Donlin Gold team and a third-party consultant that is also nearing completion. In addition, recent Donlin Gold field data was used to update groundwater and surface water models, while geochemical data collection continues and will be used for closure planning.”
OceanaGold Corporation (TSX: OGC) (OTCQX: OCANF), a gold and copper producer engaged in the USA, the Philippines, and New Zealand, recently announced that two of its proposed projects (Waihi and Macraes mines) were included in the New Zealand Government’s Fast-track Approvals Bill for regionally and nationally significant infrastructure and development projects. The publicly-released list of 149 projects included the Waihi North Project, which includes the highly prospective Wharekirauponga (WKP) proposed underground mine, as well as the Macraes Phase 4 Project, a mine extension permit.
“I am delighted to see both of our projects on the list for consideration under the new Fast-track Approvals Bill,” said Gerard Bond, President and CEO of OceanaGold. “We welcome a clear and timely regulatory process in New Zealand which supports the development of projects that can provide economic benefits while respecting important environmental, cultural and social protections. Expediting the permitting of our projects will preserve the jobs of 1,000 employees we have in New Zealand, provides new jobs and will deliver wider economic benefits for the local communities and the country.”
The Fast-track Approvals Bill is expected to be passed into law later this year, allowing listed projects to apply directly to a Government-appointed expert panel for final decision.
Source: https://usanewsgroup.com/2024/10/01/the-yukon-an-untapped-mining-powerhouse/
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