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. announced a significant increase to its global bulk- tonnage Mineral Resource Estimate (MRE) for its flagship Lawyers Gold-Silver Project. The MRE comprised of 1,097 drill holes totaling 200,000 metres collectively from the Cliff Creek, AGB and Dukes Ridge deposits were used for Mineral Resource Estimation. The 100% owned 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 expanded Mineral Resource Estimate is demonstrating the world- class potential of Benchmark’s multi-million-ounce gold-silver deposits. The Company has provided one of the highest-grade, open pitable mining projects in North America. The 2021 drill program and winter 2022 drill program has significantly de-risked the project with approximately 90 percent of the Mineral Resource within the Measured + Indicated classification. With the deposits open, further resource growth is possible and the Project has numerous targets that may develop into near mine satellite deposits. The company has drilled-out a significant amount of gold and silver ounces that is not included in the $1700 pit shell. At higher precious metals prices, the contained gold increases significantly. The MRE comprises of proven economically minable material while the remaining, outside of pit gold and silver will provide a significant opportunity as the price of precious metals increases.”
Ian Harris, VP Engineering, commented “The Project is demonstrating potential for economic mining methods with high-grade mineralization extending from surface to depth. The higher-grade core zones at surface will have a positive impact on economics in the forthcoming Preliminary Economic Assessment (PEA). Benchmark’s drill-to-build philosophy is delivering the results to develop the Project into a world- class gold-silver mine located in one of the best mining jurisdictions in the world.”
Highlights: 2022 Expanded Mineral Resource Estimate
- Indicated Mineral Resource of 3.14 million ounces grading 1.45 grams per tonne (g/t) gold equivalent (AuEq), contained within 67.4 million tonnes as per Table #1;
- Inferred Mineral Resource of 415,000 ounces grading 2.63 g/t AuEq contained within 4.9 million tonnes;
- The Mineral Resource shows excellent continuity and consistency, demonstrated by increasing AuEq cut-off grades having marginal impact on the pit-constrained AuEq ounces as demonstrated in Table #2;
- High Grade Zones – Indicative Starter Pits with higher-grade;
Cliff Creek and Dukes Ridge deposits show 5.2 million tonnes at 1.74 g/t AuEq for approximately 292,000 oz AuEq at a preliminary strip ratio of 2.2:1
AGB deposit 7.5 million tonnes at 1.74g/tAuEqforapproximately418,000ozAuEqat a preliminary strip ratio of 1.7:1
- Strip ratios – Overall OP preliminary strip ratio for the full MRE is 5.6:1 for CC-DR and 2.9:1 for AGB;
- The MRE will form the basis of a Preliminary Economic Assessment (PEA) to be completed in Q3, 2022;
- All of the zones remain open for further expansion, and;
- The Project holds multiple satellite targets for discoveries and additional gold-silver mineralization.
Other related developments from around the markets include:
Barrick Gold Corporation announced that it would spend $6 for every ounce of gold sold by its two mines in the country on improving healthcare, education, infrastructure and access to potable water in the communities around them. At the same time, it has committed up to $70 million for investment in value-adding national projects, including mining-related training, skills development and scientific facilities at Tanzanian universities, as well as road infrastructure. This is in accordance with the conditions underlying Barrick’s framework agreement with the government, which included the establishment of their Twiga joint venture. Twiga oversees a 50/50 split of the economic benefits generated by the mines as well as their management.
Newmont Corporation announced that it has closed a transaction with Skeena Resources Limited to acquire certain properties located in Tahltan Territory in northwestern British Columbia. Newmont will work in collaboration with the Tahltan Nation, the Iskut community and the British Columbia government to make available portions of the acquired properties to support the land use planning objectives of the Tahltan Nation and the Iskut community. “We are committed to sustainable resource development and developing a world class mining jurisdiction while protecting and conserving lands that are important to the Tahltan Nation and the Iskut community,” said Newmont President and CEO Tom Palmer. “The mining claims around Iskut are not being purchased for development or their mineral potential, but in an effort to address concerns raised through our engagement with the Tahltan Nation.”
First Majestic Silver Corp. announced positive drill results from its ongoing exploration program at the Jerritt Canyon Gold Mine located in Elko County, Nevada. Since acquiring the mine on April 30, 2021, the Company has completed over 70,000 metres in exploration drill holes consisting of step-out and greenfield targets designed to increase the confidence of the mineral resource and add new ounces. In 2022, the Company plans to drill approximately 135,000 metres at Jerritt Canyon with a focus primarily on the Smith/SSX mines, and the Winters Creek, Waterpipe, Wheeler, and Murray areas. The Company is also pleased to announce that the United States Forest Service has approved an exploration permit to conduct activities across 42,976 acres (17,976 hectares) of USFS land at Jerritt Canyon. This permit allows for up to 500 acres of newly constructed exploration roads and up to 1,100 new drill pads. The Company is now prioritizing exploration drill targets and is expected to commence drilling on July 1, 2022.
Endeavour Silver Corp. announced its financial and operating results for the three months ended March 31, 2022. “Our first quarter performance was strong, putting us on track to achieve our 2022 production guidance,” stated Dan Dickson, CEO of Endeavour Silver. “High-grade ore at Guanacevi was a driving force and is expected to continue throughout the balance of the year, while production at Bolanitos remains solid. Industry-wide inflation is a growing challenge and we continue to look for ways to mitigate its negative impact. Looking ahead to the second quarter, we are targeting two major milestones: securing debt financing for Terronera and closing the Pitarrilla transaction. This acquisition, which is fully financed, is expected to close this quarter following receipt of approval from the Mexican Federal Economics Competition Commission. After the deal closes, drilling will commence to verify Pitarrilla’s historical data and update the historical resource. This will become a key focus for us for the balance of 2022.”
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. Please click here for full disclaimer.
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