Gold at $10,000 an ounce? 10 reasons it could happen within the next 12 months…
1) As the world looks to “reflate” their economies, fiat currencies (dollar, euro etc) are being deliberately devalued by governments worldwide as a way to get out from massive debt burdens that were run up during “credit bubble” and continue at ever higher levels with “stimulus” plans. The US very much wants and needs a weaker dollar and low interest rates as deficits and unemployment continue to soar. Fiat currencies will likely continue to be aggressively devalued over the next decade.
2) China has $2 Trillion in Foreign Currency reserves (Fiat Currency) and only 2% in gold, vs. 75% for US and 10% worldwide average. With every .5% drop in the dollar, drops the value of China foreign currency reserves by $10 billion dollars (a move happening daily recently). If China wisely decides to increase its gold reserves and reduce it fiat currency exposure to even just the worldwide average, gold prices could move substantially higher and stay at higher price levels.
3) Scarcity Part One: The gold industry has not replaced gold reserves mined in over a decade, gold is simply too scarce. Scarcity means shortages on the near term horizon. Shortages in gold means there is not enough physical gold available to cover the massive quantities of gold that has been “lent”, “leased” or “pledged”. This situation will only be exasperated going forward opening the real possibility of a major gold short squeeze and possible price spike pushing gold to the stratosphere (and keeping it there).
4) Scarcity Part Two: Throughout history only 160,000 tons of gold has ever been mined. At today’s prices that equates to $4.9 trillion dollars vs $60 trillion in outstanding fiat currency. As fiat currency continues to be deliberately debased look for this price relationship to invert.
5) Scarcity Part Three: Repatriation. Hong Kong recently pulled all its gold holdings and deposits from London. Hong Kong wants to physically possess and control its gold and now does. Look for other countries to follow.
6) Deep Pockets Part One: Central banks, the deepest pockets of them all, are in the process of switching from net sellers of gold to net buyers, this is a major secular change and is likely to continue as other central banks look to follow suit diversify reserves away from heavy fiat currency exposure.
7) Deep Pockets Part Two: Major insurance companies have begun purchasing gold. Northwestern Mutual, considered a conservatively run yet savvy company, recently purchased $400 million worth of gold, its first purchase in 152 years, its CEO Edward Zore believes gold could increase five fold. Look for other insurance companies to follow.
8) Deep Pockets Part Three: Sovereign wealth funds, China, Qatar, and Saudi Arabia have begun heavily investing in commodities world-wide to diversify out of Fiat Currency (dollar, euro). Look for more SWF to follow.
9) Deep Pockets Part Four: Respected and widely followed fund managers are publicly piling into gold and/or out of the dollar including John Paulson, Bill Gross, Paul Tudor Jones, Kyle Bass, David Einhorn, Paolo Pellegrini, John Burbank, Sri Kumar, David Rosenberg (economist,) John Hasenstab, Evy Hambro, Donald Coxe, John Brynjolfsson and David Tice. Look for other major mutual funds, hedge funds and pension funds to follow the leaders.
10) Traditional Gold hedgers (producers, miners etc) such as Barrick, the world’s largest gold company, are eliminating their hedge books…essentially taking the cap of the market …as gold supplies dry up producers are no longer locking in prices by selling massive quantities of futures contracts…this takes selling pressure off and indicates producers believe prices will be going much higher. Look for all producers to unwind their hedge books. (Patrick Kerr – Amerifutures)
The world is changing rapidly. Old world powers, like the US, are making room on the stage for new world powers like China. Previous deep pockets are being displaced by new even deeper pockets: Central Banks. All of the above indicates much higher prices to come. The first movers in all the categories above (central banks, insurance companies, funds, sovereign wealth funds) will have the advantage of getting in at lower prices. Late movers will be forced to buy at higher prices. Regardless of who does what we are going higher. Recommendation: If you do one trade in the next two years do this: Get long and stay long gold.
Gold $5000+ we only got to 2nd page in the Gold book it will be many more golden pages to come
Conquest Res. - Alexander Project - SETTING • Same geology and structural setting as Red Lake and Campbell Gold Mines • Favorable lithologies in Balmer volcanics & Bruce Channel sediments • Chemical, Structural & Physical Traps • Iron-rich biotite and quartz-carbonate alteration • Regional folding • D2 shear structures –conjugate faulting • Major regional folding • Ultramafic/mafic and iron-formation contacts • Brittle & ductile faulting • High grade zones often in N-S fault structures TARGETS • North Shaft Zone cuts across length of Alexander property •North limb of unconformity at estimated 400 metres depth across length of Alexander property • Stratigraphy Volcanic/Intrusive contacts and Bruce Channel sediments • Mine Trend deformation zone • Two Mineralization Styles: sulphide-related and high grade quartz-carbonate • Strong MMI Targets show leakage from gold-bearing structures
• Hole CR-09-037 intersected 83 metres of strongly sheared and silica altered Bruce Channel sediments at approximately 870 metres down-hole depth. Hole CR-09-038 intersected the same altered and sheared sediments at a down-hole depth of 988 metres. These two holes provide a newly established strike length of over 225 meters of prospective horizon within the important Bruce Channel sediments. Assays are pending for these two holes. • Goldcorp would love to get it for the property is larger than Goldcorp's old Red Lake Mines property -
Red Lakes Gold Mines - It's a story about a real life gold super hero whose deviance of conventional wisdom turned a failing corporation into one of the world's largest and richest gold producers -
Conquest Res. - Alexander Virgin Gold Project – in same gold belt structure zone - the same geology and structural setting as Red Lake and Campbell Gold Mines -
the favorable lithologies in Balmer volcanics & Bruce Channel sediments which is said to be one of the richest gold properties in the world -
dd..listen to.. Presentation by John F. Kearney, Conquest's Chairman on "InvestmentPitch.com"....
ex..Conquest's Aurora and Sunday Lake claims at Detour Lake total 88 square kilometers and are surrounded by Detour Gold Corp's Detour Lake gold development property.
The Detour Lake Deposit is currently subject of a feasibility study on the development of a 13.2 million ounce gold open pit resource which lies approximately 500 metres immediately to the north of Conquest's Aurora claims.
The Detour Lake gold camp lies within the prolific Abitibi Greenstone Belt.
The Abitibi Belt has a history of world-class production from over 100 gold mines totaling nearly 200 million ounces of gold in historic production and current resources.
>>Is CQR your favorite stock right now? I keep looking at the location-location-location and the potential for a quick buy out in case they discover significant gold next door to Goldcorp.
Mines need huge infrastructure, lots of capital and a good work force and all is right there at your property line if significant gold deposits are found. It has the best chance for a quick JV or buyout I have ever seen once the size and scope of gold deposit is determined.
The two deeper drill holes not yet reported could sure give a nice clue.<<
Aurora Project, Detour Lake, Ontario Project Overview
Located in the Northern Abitibi Greenstone Belt, adjacent to the Detour and Casa Barardi gold mines and the Selbaie copper-zinc mine. Over $3.7M in historic expenditures by major companies.
Drilling by Conquest identified and/or confirmed the presence of gold mineralization in two areas. The GB Zone has been confirmed as a major gold-bearing system with potential for high grade gold lenses which has now been traced by Conquest over a strike length of at least 1,800 metres. At least three lenses of high grade gold mineralization have now been encountered within the GB Zone.
The drilling on the Sagimeo Lake Shear encountered a new gold-bearing zone associated with zinc sulphide rich quartz veins, and this zone, the SLS Zone, has now been established as a significant new gold-bearing system which strikes northward 4km to the former Detour gold mine.
The Company has been exploring the possibility of farming out the Aurora project and has been in discussion with a particular party over the past 6 months. However, no agreement has yet been reached.
Aurora and Sunday Lake - Proximity to Detour Gold Corp's Proposed Open-pit Development Aurora and Sunday Lake - Claims on Landsat Image with Detour Gold Corp's Proposed Mine Planning
Aurora Project, Detour Lake, Ontario Project Details
The Aurora Property comprises two separate claim groups: (1) the Main Aurora Property comprises 12 mining leases and lies 4km south of the Detour mine. It is 16km in length and varies from 4km to 5 km in width; and (2) the Sunday Lake Property comprises 3 mining leases and is located about 4.5km due east of the Detour mine along the Sunday Creek Deformation Zone
The properties are almost completely overburden covered. As a result, most of the geological information has been obtained from diamond drilling and from interpretation of geophysical surveys.
Since 1980, Boliden and various joint venture partners have expended approximately $3.7 million.
Although the geological environment displays many similarities to that of the Detour mine, the stratigraphic section on the Aurora Property is considerably thicker and the structural geology more complex. There is also a larger number and more complex history of igneous intrusive bodies, which range from ultramafic to felsic in composition.
Diamond drilling by Westmin Resources Ltd. (the predecessor company to Boliden) between 1981 and 1989 indicates two major structural breaks on the Aurora Property called the Northern and Central Breaks respectively. Reverse circulation (RC) overburden drilling has detected four strong gold-in-till anomalies at the bedrock interface in the vicinity of the two breaks. Several of the Aurora Property RC holes yielded heavy mineral concentrate samples with gold-in-till anomalies of >15,000 ppb Au (> 15g/t Au) and high counts of visible gold grains. These are comparable with similar anomalies documented down-ice from the Casa Berardi orebodies, located on the Quebec side of the nearby provincial border. Although cut-off points have not been completely defined on the Aurora Property, it is believed that the Aurora deep overburden anomalies are close to source.
Placer Dome completed an induced polarization survey and 32 diamond drill holes in 1996 and 1997. Anomalous gold was intersected in three holes on the Central Break, the strongest being 1 metre grading 6.6 g/t Au in PD-064. Significant visible gold mineralization was intersected in four areas on a newly-defined break (the Southern Break) at the southern margin of the Aurora Property. Two of these intersections are potentially ore-grade. The gold occurs as native gold associated with quartz veinlets and as disseminations in sulphide and tourmaline-bearing tuffaceous chemical sedimentary interflow horizons. On Section 17,200E, hole PD-059 intersected 3 metres grading 46.2 g/t Au. This was followed-up with a single hole 100 metres below the intersection which did not intersect significant mineralization. Hole PD-058, located 1.6 km to the east on Section 18,800E, intersected 2.6 metres grading 21.6 g/t Au. This was followed-up by PD-084 which intersected 2.0 m grading 10.0 g/t Au 70 m below PD-058 and PD-070 which intersected 1.0m grading 2.4 g/t Au 70 m above PD-058. In the third area, located 300 metres northeast of PD-058 on Section 19,000E, hole PD-053 intersected 4.9 g/t Au across 1.5 m In the fourth area, on Section 18,200E, hole PD-075 returned 10.3 g/t Au across 0.9 m.
Potential
Conquest believes that the Aurora Property has significant potential to host either a major gold deposit based on similarities in structural and geological setting withother nearby mines within the Abitibi Belt in Ontario and Quebec, or a poly-metallic volcanogenic base and precious metal deposit similar to the nearby Selbaie mine (copper-zinc-lead-silver-gold). Conquest proposes to conduct a program comprising additional drilling and exploration on the Aurora Property to follow up on the promising high grade gold intersections previously encountered in the North, Central and Southern structural breaks.
Goldcorp Inc. (TSX: G)(NYSE: GG) provided highlights of its successful $110 million 2009 exploration program.
- Red Lake High Grade Zone Continues at Depth. Several assay intervals in excess of 60 grams per tonne in the deep High Grade Zone support the strong potential for gold resource to reserve conversion between the 46 and 50 levels, as well as for new gold resources below the 50 level.
A new and growing area of high grade gold called the Far East Zone
has also been identified up-plunge from the High Grade Zone.
In the under-explored Party Wall area ("R Zone") between Campbell and Red Lake, strong results from the deepest drilling will direct an aggressive exploration campaign in 2010.
Canada
Goldcorp is the largest producer of gold in Canada, and its Red Lake and Porcupine mines are hosted in two of the most prolific gold districts in the world. The third Ontario-based mine, Musselwhite, is hosted in banded iron formations with mineralization common along folds and shear zones within these formations. In Quebec, the Company's late-stage development project Eleonore is in the heart of the James Bay area, Canada's newest gold district.
Red Lake
A primary focus of exploration at Red Lake in 2009 was the early completion of the 4199 exploration drift, enabling drilling of the deep High Grade Zone for the first time in four years. Five assayed drill holes have been completed within the resource shape from this platform, with results indicating the continuation of the High Grade Zone at depth. This year, the Company is targeting new gold reserves in the zone between the 46 and 50 levels and new resources below the 50 level. The 4199 exploration drift will now provide the primary exploration platform for exploration of the deep High Grade Zone on an ongoing basis. It will be developed progressively in order to maintain favourable drilling geometry into the area.
The Party Wall at Red Lake comprises the former boundary area between the Red Lake and Campbell mines that had been previously unexplored. Assays over the last two years have demonstrated a high grade gold resource. Mining operations in the shallower portions of the Party Wall have drifted toward the gold zone, with in-fill drilling confirming the resource model. Deep drilling of the Party Wall area to the 38 level has resulted in some of the highest grade intercepts to date, and will be the focus of an aggressive drill program in 2010.
Up-plunge and to the east of the Red Lake High Grade Zone lies an underexplored area called the Far East Zone. Assay results in 2009 indicate an ore grade gold zone at the 16 level that will continue to be tested as drilling moves closer to the surface.
Red Lake Drilling Results --------------------------------------------------------------------------- Drill Approx. true Hole Area From (m) To (m) width (m) Au (g/t) --------------------------------------------------------------------------- D44008 High Grade Zone 49 level 360.30 365.91 4.50 931.89 --------------------------------------------------------------------------- D44004 High Grade Zone 48 level 362.41 374.29 8.11 65.83 --------------------------------------------------------------------------- D43058 High Grade Zone 49 level 322.78 325.53 2.19 120.00 --------------------------------------------------------------------------- D43059 High Grade Zone 49 level 359.36 369.94 10.58 43.89 --------------------------------------------------------------------------- D36439 R Zone 92.20 96.77 3.50 60.00 --------------------------------------------------------------------------- D41178 R Zone 663.25 670.56 4.73 45.87 --------------------------------------------------------------------------- 16L1427 Far East 21.03 32.13 9.24 29.83 --------------------------------------------------------------------------- 16L1426 Far East 38.40 42.67 4.00 31.70 ---------------------------------------------------------------------------
GOLDCORP'S DRILLS HEAD EAST TOWARDS CONQUEST'S PROPERTY DIRECTION
Up-plunge and to the east of the Red Lake High Grade Zone lies an underexplored area called the Far East Zone.
Assay results in 2009 indicate an ore grade gold zone at the 16 level that will continue to be tested as drilling moves closer to the surface....
Conquest intersects gold in first four holes on Alexander Gold Property in Red Lake
* Press Release * Source: Conquest Resources Limited * On 4:46 pm EST, Monday November 23, 2009
(TSX-V: "CQR") is pleased to provide interim results from ongoing exploration at its 100% owned Alexander gold project located in the prolific "Mine Trend" structure of the Red Lake gold camp in northwestern Ontario.
Conquest has completed its 2009 surface drill programme which consisted of six drill holes totaling 4,100 metres of NQ drilling conducted by Boart Longyear Canada. The programme was designed to target prospective stratigraphic and structural horizons to depths previously untested in the western and central portions of the Alexander property and to further investigate the area of recent drilling conducted by Goldcorp Inc. on to the property (previously reported, May 25, 2009).
SHALLOW DEPTH GOLD VALUES
Assay results received to-date for the first four holes confirm intersections of gold mineralization over narrow widths from sampling ranging in depth between 65 and 270 metres vertically. -50 3.10 ------------------------------------------------------------------------- CR-09-034 205.41 208.88 3.47 -50 1.80 ------------------------------------------------------------------------- (includes) 0.39 -50 9.64 ------------------------------------------------------------------------- CR-09-035 89.35 89.85 0.50 -50 1.46 ------------------------------------------------------------------------- CR-09-036 233.00 233.30 0.30 -50 1.08 ------------------------------------------------------------------------- CR-09-037 - - - - Pending ------------------------------------------------------------------------- CR-09-038 - - - - Pending -------------------------------------------------------------------------
True width will be determined following receipt of complete survey data and will be provided in a follow up release.
The gold was identified by sampling in Balmer volcanic and Huston sedimentary rocks similar to those encountered in earlier shallow drilling completed by Conquest in 2003 and 2004.
Commenting on the progress of the 2009 drilling program Mr. Terence McKillen, President and Chief Executive Officer of Conquest Resources, stated, "The results of our 2009 programme confirm the depth continuity of gold bearing structures encountered in previous shallow drilling and provide the necessary encouragement to embark on a major programme of deep drilling to evaluate the potential of this strategically located Red Lake property."
SIGNIFICANT GEOLOGY IDENTIFIED AT DEPTH
Holes CR-09-037 and CR-09-038 were drilled to depths of 700 and 750 metres vertically, and represent the deepest holes drilled to date at Alexander.
Hole CR-09-037 intersected 83 metres of strongly sheared and silica altered Bruce Channel sediments at approximately 870 metres down-hole depth. Hole CR-09-038 intersected the same altered and sheared sediments at a down-hole depth of 988 metres. These two holes provide a newly established strike length of over 225 meters of prospective horizon within the important Bruce Channel sediments. Assays are pending for these final two holes.
The recently completed drilling programme has provided important geological data on previously inferred structural and lithological contacts at depths ranging from 400 to 750 metres vertically and confirms the presence of gold-bearing structures within the Balmer and Huston formations on Conquest's Alexander Property.
The current drilling has effectively doubled the depth profile established in previous drill programmes on the Alexander property and has provided the first geological insight at deeper levels in the stratigraphy.
The information into the deeper subsurface geology gained during the Phase-I drilling has provided valuable data for the development of a major, deep drilling programme to systematically explore the Balmer Assemblage rocks. Subject to financing, the next phase of drilling is planned to commence early in 2010, and will test to vertical depths between 1,300 and 2,000 metres.
ABOUT THE ALEXANDER PROPERTY
Conquest's Alexander gold project is located in Balmer Township in the heart of the Red Lake Gold Camp. It is situated within the "Mine Trend" structural corridor adjacent to Goldcorp's Red Lake and Campbell gold mines, which contain historic production and current resources in excess of 25 million ounces of gold, and approximately 1,000 metres east of the Red Lake No. 1 Shaft headframe and within 400 metres of the Far East gold zone at the Red Lake Mine - Alexander Project - Location
QUALIFIED PERSON
Information of a scientific or technical nature contained in this release has been prepared by or under the supervision of Terence McKillen, P.Geo., the Chief Executive Officer of the Corporation and a Qualified Person within the meaning of National Instrument 43-101 of the Canadian Securities Administrators. Samples were fire assayed for gold content by SGS Mineral Services in Red Lake, Ontario with the regular use of standards and blanks for quality control.
the King Bay Gold Project at Sturgeon Lake (60% interest);
and the Smith Lake Gold Project at Missanabie.
There are currently 72,663,830 shares of Conquest issued and outstanding.
This news release may include certain "forward-looking statements". All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding potential mineralization, resources and reserves, exploration results, and future plans and objectives of Conquest, are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Conquest's expectations are exploration risks detailed herein and from time to time in the filings made by Conquest with securities regulators.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or the accuracy of this release.
For further information
Terence N. McKillen, President & CEO, (647) 728-4126 D. Brett Whitelaw, Vice-President, (604) 662-8633 John F. Kearney, Chairman, (416) 362-6686 Robert Kinloch, Director, (306) 343-5799 Email: info@conquestresources.net, URL: www.conquestresources.net --
well, CQR still an Ausome bargain..
dd..listen to.. Presentation by John F. Kearney, Conquest's Chairman on "InvestmentPitch.com"....
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