Canadian Gold Corp. Phase 1 Exploration Program to Begin at Tartan Mine Main Objective: Extend High-Grade Gold at Depth Property Wide Exploration Potential Outlined Newsfile Corp. Fri, May 12, 2023 at 7:21 AM EDT In this article:
Toronto, Ontario--(Newsfile Corp. - May 12, 2023) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") is pleased to announce that its Phase 1 exploration program at the 100%-owned Tartan Mine near Flin Flon, Manitoba will begin on June 1, 2023. The Company is using this opportunity to highlight for shareholders the discovery potential on the property, specifically at the mine, and at its recently acquired projects adjacent to Agnico Eagle's Hammond Reef Gold Deposit (Ontario) and Barrick's Hemlo Gold Mine (Ontario). The Company plans to update shareholders in the coming weeks on its various initiatives designed to improve the economics of the Tartan Mine and its future advancement.
Phase 1 Exploration Program Summary
4,000 m drill program at the Tartan Mine to extend the high-grade gold mineralization of the Main Zone to depth below the current resource. The two deepest holes, drilled in 2021, intersected 23.8 gpt gold over 12.6 m, including 47.6 gpt gold over 5.8 m and 9.73 gpt gold over 4.15 m (Fig. 1 & 2).
Advance exploration targets near the mine's infrastructure to a drill ready stage. Numerous targets have been identified, including a possible southwest extension of the Tartan Mine, where drilling between 2003-2005 intersected 39.0 gpt gold over 0.85 m and 11.3 gpt gold over 2.7 m.
Fieldwork to commence in the second half of 2023 on the recently acquired Hammond Reef North/South and HEES Project (Hemlo area). Target areas for follow up exploration have been prioritized based on the 2022 results. The objective is to identify follow up targets for diamond drilling.
trendwater2 - Canadian Gold Corp. Phase 1 Exploration Program to Begin at Tartan Mine Main Objective: Extend High-Grade Gold at Depth Property Wide Exploration Potential Outlined Newsfile Corp. Fri, May 12, 2023 at 7:21 AM EDT In this article:
Gold inches higher in subdued trading as unresolved issues hang over markets Researchers predict launch of new commodities supercycle, ‘very bullish’ on gold and silver
Capitalight Research’s Tom Brady and Chantelle Schieven believe we are headed for the boom phase of a new commodity supercycle that could last 10 to 20 years.
Gold and silver, they show, have tracked supercycle booms in the past , and, as a result, they are “very bullish” on both metals over the long run.
“It is interesting to note,” they write, “that silver and gold prices appear to have increasingly trended in similar patterns to those of the industrial metals, particularly since President Nixon eliminated the backing of the US dollar with gold in 1971. Closing the gold window thus removed a very large non-industrial buyer of gold. Under the gold standard system, government could be counted upon to purchase mine production en masse at set prices, regardless of industrial growth or decline in any particular moment. Silver, with its broadening industrial demand, has been ~75% correlated with the Industrial Metals Index.
*ALERT!** Nations Witness SILVER & Gold Standard REEMERGENCE
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