There’s still plenty of upside ahead for gold. In fact, according to Goldman Sachs, it could still see $2,500 this year – especially with fears of a potential reason. Also, according to Jeff Currie, Goldman Sachs global head of commodities research, as quoted by Bloomberg, “It’s a perfect storm for gold right now.” With plenty of uncertainty in coming months, investors are likely to buy more gold to hedge against issues such as rising inflation, geopolitical issues, and potential economic downturns. All could be positive news for stocks, such as
Benchmark Metals Inc.
(TSXV: BNCH) (OTCQX: BNCHF),
Barrick Gold Corporation
(NYSE: GOLD) (TSX: ABX)
, Newmont Corporation
(NYSE: NEM) (TSX: NGT)
, B2Gold Corp.
(TSX: BTO) (NYSE: BTG)
,
and
Equinox Gold Corp.
(TSX: EQX) (NYSE: EQX).
Look at Benchmark Metals Inc.
(TSXV: BNCH) (OTCQX: BNCHF)
Benchmark Metals Inc.
announced new results from infill and expansion drilling at the Dukes Ridge Deposit, highlighted by 54.60 metres (m) core length of 2.51 grams per tonne (g/t) gold and 97.05 g/t silver or 3.73 g/t gold equivalent (AuEq)*, including 9.60 m of 13.39 g/t gold and 480.26 g/t silver or 19.39 g/t AuEq in drill hole 21DRDD016. The deepest holes drilled at Dukes Ridge to date have extended mineralization, which remains open, to nearly 300 metres vertical depth and >110 metres below the existing 2021 Mineral Resource Estimate (MRE) pit shell.
These results continue to demonstrate strong similarities to typical mineralization at the Cliff Creek and AGB deposits, with broad bulk-tonnage style intercepts enveloping high-grade zones. The Dukes Ridge Deposit had until recently seen little drilling relative to the Cliff Creek and AGB deposit areas, and these latest results underscore the potential to add significant gold-silver ounces to the global resource at the Lawyers project as part of the imminent MRE update. Benchmark’s flagship Lawyers Gold-Silver Project is located within a road accessible region of the prolific Golden Horseshoe area of north-central British Columbia, Canada.
John Williamson, CEO, commented, “We are very pleased with these latest results from Dukes Ridge as we continue to expand on areas of known mineralization outside of the 2021 MRE pit shell. We anticipate continued growth for the Dukes Ridge deposit, and for the other deposit areas at Lawyers, as additional drill results contribute to the upcoming mineral resource estimate update.”
Highlights
– Plunging high-grade zones within large intervals of bulk-tonnage style mineralization are common at the Dukes Ridge Deposit area, including:
3.27mof33.65g/tAuand1,215.00g/tAgor48.84g/tAuEqwithinabroaderinterval grading 2.51 g/t Au and 97.05 g/t Ag or 3.73 g/t AuEq over 54.60 m in hole 21DRDD016.
5.00 m of 8.67 g/t Au and 162.82 g/t Ag or 10.70 g/t AuEq within a broader interval grading 2.01 g/t Au and 38.85 g/t Ag or 2.49 g/t AuEq over 40.16 m in hole 21DRDD012.
2.48 m of 10.30 g/t Au and 454.16 g/t Ag or 15.98 g/t AuEq within a broader interval grading 1.41 g/t Au and 43.20 g/t Ag or 1.95 g/t AuEq over 48.16 m in hole 22DRDD029.
– Drilling at Dukes Ridge continues to intersect strong mineralization below the 2021 MRE pit shell, with confirmed mineralization now in excess of 100 metres outside of the existing pit shell, and multiple high-grade zones remaining open at depth.
– The Company has intersected plunging high-grade zones at Dukes Ridge that are interpreted to be the result of previously unrecognized cross structures. Future drilling will target these zones and potentially add additional high-grade mineralization to subsequent resource estimates.
– Mineralization at the Dukes Ridge Deposit accounted for 109,000 AuEq Indicated ounces and 35,000 Inferred ounces in bulk tonnage zones in the 2021 Mineral Resource Estimate (May 14, 2021), including a significant portion at or near-surface.
– Benchmark anticipates recently completed drilling to positively impact the total ounces contained at Dukes Ridge in the imminent MRE update.
Other related developments from around the markets include:
Barrick Gold Corporation
announced a
$0.20 per share quarterly dividend
, the first to include a $0.10 per share performance component in line with its new dividend policy. President and chief executive Mark Bristow said the Company’s net cash balance at the end of Q1 stood at $743 million, reflecting cash flow from the operations, the continuing sale of non-core assets, and its share of a further $0.6 billion in cash distributions by Kibali.
Newmont Corporation
announced
first quarter 2022 results
. “Newmont delivered a solid first quarter performance with $1.4 billion in adjusted EBITDA as we safely managed through the Omicron surge. The strength of our proven operating model and global portfolio in the world’s best mining jurisdictions is the foundation of Newmont’s clear and consistent strategy to create value and improve lives through sustainable and responsible mining. In April, we published our 18th Annual Sustainability Report, which provides a transparent look at our ESG performance and the issues and metrics that matter most to our stakeholders. As a values-based organization and the gold sector’s recognized sustainability leader, Newmont has a long history of leading change in our approach to ESG and our core values are fundamental to how we run our business and where we choose to operate,” as noted by Tom Palmer, Newmont President and Chief Executive Officer.
B2Gold Corp.
announced that it has entered into a definitive Scheme Implementation Agreement with
Oklo Resources Limited
pursuant to which B2Gold has agreed to acquire 100% of the fully paid ordinary shares of Oklo in consideration for 0.0206 of a common share of B2Gold and A$0.0525 in cash for each Oklo Share held. The Scheme Consideration represents a purchase price of approximately A$0.1725 for each Oklo Share and values the transaction at approximately A$91.3 million (including up to approximately A$27.4 million cash consideration). The transaction as contemplated by the Agreement will be implemented by way of a scheme of arrangement pursuant to Part 5.1 of the Australian
Corporations Act 2001 (Cth)
. Upon implementation of the Scheme, in addition to the cash consideration, B2Gold expects to issue up to 10,754,284 B2Gold Shares to Oklo shareholders, representing approximately 1% of the B2Gold Shares on an undiluted basis.
Equinox Gold Corp.
announced that further to its press release dated May 16, 2022, approval for the
tailings storage facility
raise at its RDM Mine in Brazil has been received. The TSF raise contractor is mobilizing equipment to begin the raise in early June. Equinox Gold expects that full operations will resume by mid-July. Equinox Gold will update RDM guidance with its Q2 2022 disclosures in the first week of August.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Benchmark Metals Inc. by Benchmark Metals Inc. We own ZERO shares of Benchmark Metals Inc.
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