Gold and silver prices could see another strong rally “with warnings over a global economic slowdown paving the way for a fresh push toward $2,000 an ounce. A potent mix of decades-high inflation, geopolitical turmoil and growing talk of recession should be bullish for the traditional haven,” says Livemint.com. In addition, “After decades of massive deficit spending and ultra-loose monetary policies, we are heading toward a period of stagflation,” said Gregor Gregersen, founder of Silver Bullion Pte, as also quoted by Livemint.com. “In this kind of environment, safe-haven assets like physical gold and silve are some of the best things you can own.” All could be positive for gold and silver companies, such as
Benchmark Metals Inc.
(TSXV: BNCH) (OTCQX: BNCHF),
Barrick Gold Corporation
(NYSE: GOLD) (TSX: ABX)
, Newmont Corporation
(NYSE: NEM) (TSX: NGT)
, First Majestic Silver Corp.
(NYSE: AG) (TSX:FR), and
Endeavour Silver Corp.
(NYSE: EXK) (TSX: EDR).
Look at Benchmark Metals Inc.
(TSXV: BNCH) (OTCQX: BNCHF)
Benchmark Metals Inc.
provided an update on exploration drill target planning near the Kodah and Round Mountain occurrences, located in the northwest portion of the Lawyers Gold-Silver project. High-grade gold and silver rock grab samples and kilometre-scale soil geochemical anomalies are robust areas of interest that are currently being advanced to the drill-testing stage with the collection of high-resolution ground magnetics and additional rock grab sampling and mapping. The 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, “The Kodah and Round Mountain targets represent additional exciting opportunities for new discoveries that have never been drill-tested. The robust soil anomalies and excellent precious metals grades in rock grab sampling over these areas have strong similarities to the geochemical signatures at the existing, large deposits at the Lawyers Gold-Silver Project. We look forward to completing the final ground magnetics and prospecting passes at Kodah and Round Mountain to finalize high-confidence drill targets. In addition, the Company is quickly advancing on its Preliminary Economic Assessment (PEA), due for imminent, near-term publication. Benchmark has advanced technical and engineering drilling in progress towards its Feasibility Study for 2023.”
Kodah-Round Mountain Target Area Highlights
– Robust soil anomalies in gold, silver, and pathfinder elements associated with epithermal-style mineralization, some of which have a kilometre-scale anomaly footprint.
Similar geochemical signature to soil anomalies typical of the Lawyers project resource areas.
– High-grade historical grab sampling, including
29.14 g/t Au and 2125.7 g/t Ag or 55.71 g/t AuEq*
,
26.06 g/t Au and 2142.9 g/t Ag or 52.85 g/t AuEq
, and
18.86 g/t Au and 1508.5 g/t Ag or 37.72 g/t AuEq
.
– The Company is currently completing the final stages of data collection over these areas prior to finalizing drill targets.
Ground magnetics and bedrock mapping are ongoing in these areas and are expected to resolve important structural controls prior to drill-testing.
474 infill soil samples and 34 rock grabs have been collected to further refine 2021 soil anomalies.
– These targets have never been drill-tested and have strong discovery potential to add additional gold-silver ounces to the global resource at Lawyers.
The Company is currently completing ground-based magnetics, bedrock mapping and additional rock prospecting in the Kodah and Round Mountain occurrence areas to further develop prospective drill targets. Preliminary results in the ongoing ground magnetics survey indicate several major north and northwest-trending structures converging over areas of coincident mapped alteration and soil anomalies. These areas have seen no drilling and represent an exciting opportunity for additional discoveries within the Lawyers project area, accessible via the newly upgraded ring road and less than five kilometres from the existing Cliff Creek, AGB, and Dukes Ridge-Phoenix deposits.
Other related developments from around the markets include:
Barrick Gold Corporation
president and chief executive Mark Bristow said the
Reko Diq
copper-gold project, a partnership between the company, the Balochistan Provincial Government and Pakistani state-owned enterprises, would create substantial value for the province through multiple generations. Speaking after his meeting here today with Balochistan chief minister Abdul Quddus Bizenjo, Bristow said that in the negotiations Barrick and the Government of Pakistan had worked to ensure that Balochistan will receive a substantial share of the benefits generated by Reko Diq.
Newmont Corporation
announced it will report
second quarter 2022
operations and financial results before the market opens on Monday, July 25, 2022, and will hold a conference call at 10 a.m. Eastern Time (8:00 a.m. Mountain Time) the same day. The earnings call will also be carried on the Company’s website.
First Majestic Silver Corp.
announced that
total production in the second quarter of 2022
from the Company’s four producing operations, the San Dimas Silver/Gold Mine, the Jerritt Canyon Gold Mine, the Santa Elena Silver/Gold Mine and the La Encantada Silver Mine, reached 7.7 million silver equivalent ounces consisting of 2.8 million ounces of silver and 59,391 ounces of gold. The Company’s financial results for the second quarter of 2022 are scheduled to be released on Thursday, August 4, 2022.
Endeavour Silver Corp.
reported
second quarter 2022 production
of 1,359,207 silver ounces (oz) and 9,289 gold oz, for silver equivalent 1 production of 2.1 million oz. Production continues to outpace the 2022 production guidance of 6.7-7.6 million silver equivalent ounces, totaling 4.1 million AgEq oz for the six months ended June 30, 2022.
“Amid ongoing turmoil in the markets due to supply constraints, continued inflation concerns, and uncertainty from the raising of interest rates from historical lows, we had another solid quarter of production” stated Dan Dickson, Chief Executive Officer. “Despite the current macro trends, the Company and precious metals outlook remains optimistic. Given our positive view for short-term precious metal prices, we are comfortable holding back bullion inventory over the quarter for future sale.”
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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