Gold is, and will continue to be a hot commodity amongst the investment community. A person has to do a bit of searching to find any analyst that is calling for gold to experience any significant depreciation in value from its current price. While it has indeed slipped from its recent highs of $1,400 per ounce, investors do not put a lot of weight in what the price is doing from a day to day basis.
While some traders may, the longer perspective is what an investor weighs in as a true analysis of where the price may be going over the next year and beyond.
Vancouver-based NSGold Corporation (TSX-Venture:NSX) is a junior mining company that focuses on transforming advanced exploration opportunities into a mid-tier gold producer. NSGold is focused on six different projects in Nova Scotia, including its flagship property, the Mooseland Gold Project, which consists of 51 mining claims totaling 954 hectares in Halifax County, Nova Scotia.
That is not to say that NSGold’s attention is exclusive to the strong possibilities of the Mooseland Gold Project, the Company also has recently released news that drilling is set to commence on its Leipsigate Property in Nova Scotia.
The Leipsigate Gold District, in which NSGold’s land position covers the majority of the land, represents a significant exploration target for the Company that has the potential to host multiple mining deposits. NS Gold’s property within the district encompasses an area of 2,168 hectares on 134 mineral claims. The property has numerous narrow gold zones, which have produced nearly 10,000 ounces of gold, and at least seven historic shafts, the deepest of which reached a depth of approximately 100 metres.
The Mooseland project contains significant gold reserves as displayed in pre 43-101 drilling which indicated resource of two Million tons at 0.39 opt (13.1 g/T) or 858,000 contained ounces defined by 36,868 m of diamond drilling. Results from earlier portions of the drilling project were announced on November 18, but it was less than two weeks ago that NSGold announced completion of it Phase 1 drilling project at Mooseland. Today, initial assay results were released from the 26-hole drilling campaign.
While the assay results produced data that showed significant intercepts of quartz structures known to be gold bearing, the most significant gold intercept in terms of grade and width occurred in hole NSG 5-10 with 26.97 grams per tonne over a width of 3.7 metres. Additional assay results were also released from several other drill holes producing information including 122.9 grams per tonne of gold over 0.5 metres in hole NSG 3-10.
While many traders and investors are focused on the "here and now" of publicly-traded companies, experienced investors tend to be more forward-thinking about where solid investments will lie in the future. With gold expected to continue northward, investors may start turning their attention to companies such as NSGold who are developing historically strong areas of gold production that still lack exploration with today’s technologies to penetrate levels of gold-bearing veins that can reap significant rewards for the Company and its shareholders.
