High-Grade Results for Yukon's Klondike Gold
Gold's massive move yesterday broke record highs for the British pound, the Japanese yen and the Canadian and Australian dollar. We'll discuss gold's move and other news out of the Junior Mining Sector today right here on Mining Stock Daily.
Hey everybody welcome to Mining Stock Daily. Trevor Hall here, your host. Today is Tuesday August 6th, thank you for tuning in as always. The dollar price of gold hit a $1475 during trading on Monday, its highest price in over six years. On Monday afternoon, the Trump government escalated the trade war by officially designating China as a currency manipulator for the first time in 25 years. In response, gold futures jumped as much as $12 to $14.86 before pulling back. The Mining Stock Journal noted that an escalating currency war is the natural extension of the trade war. The newsletter said that this is part of a global fiat currency race to zero which began with the advent of globalism and the removal of the gold from the monetary system. The Mining Stock Journal is recommending that the best strategy to find shelter from the inevitable global financial systematic reset is to buy physical gold, silver and mining stocks. The newsletter advises avoiding precious metal ETF's in favor of buying and safe keeping gold and silver bullion privately. For those looking for opportunities to enhance their wealth, the news that it recommends a diversified portfolio of Junior Mining stocks and a few select larger cap producers. For more information, you can visit InvestmentResearchDynamics.com.
Today's briefing is sponsored by Pacific Empire Minerals. Pacific Empire is a junior exploration company focused on the discovery of gold rich copper deposits in British Columbia. Pacific Empire trades on the TSX Venture Exchange under the symbol of PEMC and on the OTC QB market under the symbol PEMSF. The company currently has a very tight share structure and its unique approach to the prospect generator business model incorporates the company's own reverse circulation drill to advance projects beyond that of typical prospect generators. The focus of Pacific Empire this year is its Porphyry bell project in central British Columbia, where it has assembled a 17,000-hectare land position over the past year. And during this year Pacific Empire is also planning an aggressive reverse circulation drill programs at its Sat, Bulkley and Paragon properties. For more information on Pacific Empire, that can be found at pemcorp.ca.
And here's what you need to know out of today's Junior Mining and Exploration sector. Klondike Gold reported assays from nine drill holes testing the Nugget Zone along the Nugget Fault on the company's wholly owned 576 square kilometer Klondike District Property in the Yukon Territory. The company says drill testing along 200m at Nugget Zone has intersected gold mineralization and discovered a new parallel zone of high-grade gold. Returns included new mineralization grading 1,009 g/t gold with 1,035 g/t silver over 1m. This is included in a wider interval that graded 404 g/t gold and 415 g/t silver over 2.5m. This is a new discovery 25m below the known Nugget Zone mineralization and remains open. Klondike Gold trades on the TSX Venture with KG and on the USO OTC markets with KDKGF.
Gold Standard Ventures shared its plans for the 2019 exploration and development program at its Railroad-Pinion Project in Nevada's Carlin Trend. The $9.6 million program includes over 14,000m of reverse circulation and core drilling and 52 holes. This all begins this week. A preliminary feasibility study for both Dark Star and Pinion resources is scheduled for completion during the third quarter of this year and will include updated resource estimates for both deposits. Gold Standard Ventures is traded on the Toronto Stock Exchange and the New York Stock Exchange with the symbol GSV.
UR-Energy announced today it has taken steps to reduce costs on the back of the U.S. Presidential response to Section 232. Last month the company says as the results of the White House's decision to take no action, they were compelled to respond and initiate measures which included a reduction in workforce at their Wyoming Lost Creek facility. Production guidance for Lost Creek has also been lowered to between 50,000 and 75,000 pounds of U3O8. This year as the company says it can no longer justify the added costs of maintaining full operation readiness as it relates to labor. UR-Energy trades on the TSX with the symbol URE and on the NYSE with the symbol URG.
That concludes today's briefing. We'll be back again tomorrow with tomorrow's news and the daily rundown. And if you may be so kind please be sure to take a moment and provide a review of this show on the network or service you utilize to catch the daily rundown of mining news. Your feedback is always greatly appreciated.
And if you have any ideas or want to reach out to me feel free to do so by shooting me an email at Trevor@clearcreekdigital.com. Mining Stock Daily is produced by Clear Creek Digital and Investment Research Dynamics' Mining Stock Journal. Have a great day. Be well. We'll talk to you again tomorrow.
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