The pullback in gold may be nearing an end. After finding double bottom support around $1,680 in late March, gold is back to $1,868. With the Federal Reserve keeping interest rates near zero, it could weaken the U.S. dollar even more, and send gold even higher. In addition, investors have grown increasingly concerned that inflation is overheating, which could send even more investors to the safe havens of gold, near-term. That could be a strong catalyst for gold moving forward, as well as for Windfall Geotek Inc. (TSXV:WIN) (OTC:WINKF) (FSE:L7C2), Vangold Mining Corp. (TSXV:VGLD)(OTC:VGLDF), New Found Gold Corp. (TSXV:NFG) (OTC:NFGFF), AbraSilver Resource Corp. (TSXV:ABRA)(OTC:ABBRF), and Alphamin Resources Corp. (TSXV:AFM)(OTC:AFMJF).
According to Steven Dunn, head of exchange-traded products at Aberdeen Standard Investments, as quoted by Kitco.com, “Gold has not yet seen its best days in 2021. I have always expected that the second half of the year would be a lot more interesting for gold and maybe we are starting to see that play out a few months early."
Windfall Geotek (TSXV:WIN)(OTC:WINKF)(FSE:L7C2) Just Initiated Exploration Program
Windfall Geotek (TSXV:WIN; OTCQB:WINKF) a mining technology company and a leader in the use of Artificial Intelligence (AI) and advanced knowledge-extraction techniques since 2005 announces it has initiated the preliminary work for a NI 43-101 in the vicinity of the Red Lake camp on its Sobeski Lake Property. The land claims were staked based on Windfall Geotek’s AI analysis of the Red Lake Mining Camp.
Dinesh Kandanchatha, Chairman commented “The Sobeski Lake area in the Red lake camp is just one of the areas we are working on with our AI platform using public data. Our ability to process data at scale and generate insight using our algorithm promises to unlock value for our shareholders and shareholders of other projects in the future.”
Red Lake Camp Highlights
- Sobeski Lake Property is road accessible & excellent infrastructure in the Red Lake area.
- Gold deposits in the Red Lake area are classified as orogenic gold deposits. The gold deposits are highly associated with brittle-ductile zones in favorable rock units
- Most of the Red Lake work is concentrated in Balmer Assemblage units which host the majority of gold produced from the area.
- Current Gold operators include Pure Gold Mining (Madsen Mine) and Evolution Mining (Red Lake, Campbell and Cochenour Mines)
- Several junior explorers are very active in the Red Lake camp including Pacton Gold Inc, AurCrest Gold Inc, Trillium Gold Mines Inc and Great Bear Resources with their recent discoveries of both the Dixie Hinge and LP fault zone
Nathan Tribble P.Geo, Director commented “This is very exciting to have initiated Windfall’s first exploration program in the Red Lake camp, which is one of the most prolific gold camps in the world. After our recent Windfall AI system analysis on the entire camp, we were able to select our favorite targets that we deemed highly prospective through our internal targeting criteria. The land that was staked has favorable rock units, structures and high probability AI targets.”
Windfall Geotek Sobeski Lake Highlights
- Maiden field exploration work program initiated on 100% owned claims
- Sobieski Lake will be Windfall’s first highly prospective asset
- Multiple unexplored AI targets identified to be followed up with
- More land packages to be included in Windfall’s portfolio of assets in the coming months
Other related developments from around the markets include:
Vangold Mining Corp. announced that Ramon Davila has joined the board of directors, Hernan Dorado has been appointed COO, and Richard Silas has been designated V.P. of Corporate Development and Corporate Secretary. VanGold Chairman and CEO James Anderson commented: "We are very pleased to announce these enhancements to board and management positions without having to search outside of the Company. We continue to add team members in Guanajuato and Vancouver quickly, and being able to fill these key management positions internally speaks to the depth of our management team and the passion they have to make VanGold a success. I look forward to working with Ramon Davila, Hernan Dorado, and Richard Silas in their new roles as we continue to position VanGold to be Mexico's next significant producer of silver and gold."
New Found Gold Corp. announced the appointment of Mr. Douglas Hurst as a Director of the Company effective immediately. Mr. Hurst was part of the founding group of Newmarket Gold, which, following discovery of the high-grade Swan Zone at the company's Fostervillemine, was sold to Kirkland Lake Gold in 2016 for approximately $1 billion. Mr. Hurst is a serially successful mining entrepreneur and executive. He founded International Royalty Corporation, which was sold to Royal Gold for approximately $700 million in 2010. He also serves as the Chairman of Northern Vertex Mining and as a director of Calibre Mining and Newcore Gold.
AbraSilver Resource Corp. reported continued high-grade drill results received from two additional diamond drill holes completed on its wholly-owned Diablillos property in Salta Province, Argentina. John Miniotis, President and CEO, commented, “Our drill results continue to demonstrate both the continuity and growth potential of the high-grade silver and gold mineralization at the Tesoro zone, as well as adding to the potential resources of the northeast gold zone beyond the open pit margin.”
Alphamin Resources Corp., a producer of 4% of the world’s mined tin from its high-grade operation in the Democratic Republic of Congo, is pleased to provide initial assay results and an exploration update on its Mpama South Exploration Drilling programme. “These drill results are very encouraging for the Mpama South Prospect and exceeded our expectations. Mineralisation within the Main and Footwall Zones point to another high-grade deposit. We are encouraged by the Mineral Resource expansion potential within our mining permit, and our view that the 13km long Bisie Ridge hosts multiple high-grade mineralised systems continue to be reinforced by these results. This brings us closer to realising our vision of becoming one of the world’s largest long-life tin producers,” says Chief Executive Officer, Maritz Smith.
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 Windfall Geotek by Windfall Geotek We own ZERO shares of Windfall Geotek. Please click here for full disclaimer.
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