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Latest Infill Holes Drilled at Loncor’s Adumbi Deposit Intersect Further Significant Widths and Grades

Results include 15.73 metres grading 5.28 g/t gold (including 5.00 metres grading 13.70 g/t gold),…

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This article was originally published by Resource World

Results include 15.73 metres grading 5.28 g/t gold (including 5.00 metres grading 13.70 g/t gold), 25.72 metres grading 2.26 g/t gold and 21.50 metres grading 2.23 g/t gold

Loncor Gold Inc. (“Loncor” or the “Company“) (TSX: “LN“; OTCQX: “LONCF”; FSE: “LO51”) is pleased to announce further significant assay results from its drilling program within its 84.68%-owned Imbo Project in the eastern part of the Ngayu greenstone belt in the Democratic Republic of the Congo.  Borehole LADD021 drilled at its flagship Adumbi deposit, intersected 15.73 metres grading 5.28 grammes per tonne (g/t) gold (including 5.00 metres grading 13.70 g/t Au ) while borehole LADD018 intersected 25.72 metres grading 2.26 g/t gold and borehole LADD022 intersected 21.50 metres grading 2.23 g/t gold (see Figures 1 and 2 below).

Significant mineralized sections for boreholes LADD018, LADD019, LADD021 and LADD022 are summarised in the table below:

Note:  It is estimated that the true widths of the mineralised sections for core holes LADD018, LADD019, LADD021 and LADD022 are, respectively, 75%, 65%, 73% and 58% of the intersected widths in the above table. In addition, the two holes that intersected grade closest to surface, LADD019 and LADD022, experienced poor associated core recoveries in places, in which case, core loss material was assigned zero grade.

Regular measurements of inclination and azimuth were taken at 30 metre intervals down the hole and all the core was orientated.  All intercepted grades are uncut with maximum internal dilution equal to or less than 4 metres of intersected width.

Commenting on these latest drilling results, Loncor President Peter Cowley said: “These reported core holes were all infill holes within the shallower part of the open pit shell with the objective of converting a good part of the 3.15 million ounce inferred resource into a higher confidence category.  The current drilling focus is to complete these infill holes within the shallower part of the pit and to outline potential underground resources at depth below the pit shell.”

Quality Control and Quality Assurance re Adumbi Deposit Drill Results

Drill cores for assaying were taken at a maximum of one-metre intervals and were cut with a diamond saw, with one-half of the core placed in sealed bags by Company geologists and sent to the Company’s on-site sample preparation facility.  The core samples were then crushed down to 80% passing minus 2 mm and split with one half of the sample up to 1.5 kg pulverized down to 90% passing 75 microns.  Approximately 150 grams of the pulverized sample was then sent to the SGS Laboratory in Mwanza, Tanzania (independent of the Company).  Gold analyses were carried out on 50g aliquots by fire assay.  In addition, check assays were also carried out by the screen fire assay method to verify high-grade sample assays obtained initially by fire assay.  As part of the Company’s QA/QC procedures, internationally recognized standards, blanks and duplicates were inserted into the sample batches prior to submitting to SGS Laboratory.

Qualified Person

Peter N. Cowley, who is President of Loncor and a “qualified person” as such term is defined in National Instrument 43-101, has reviewed and approved the technical information in this press release.

Figure 1:  Adumbi Deposit Longitudinal Section Looking Northeast with Drill Hole Grade (g/t) x True Thickness (Metre) Product Contours

 

Figure 2:  Geological Cross Section A-B

Technical Reports

Additional information with respect to the Company’s Imbo Project (which includes the Adumbi deposit) is contained in the technical report of Minecon Resources and Services Limited dated April 27, 2021 and entitled “Updated Resource Statement and Independent National Instrument 43-101 Technical Report, Imbo Project, Ituri Province, Democratic Republic of the Congo”.  A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.

Information with respect to the Company’s Makapela Project, and certain other properties of the Company in the Ngayu gold belt, is contained in the technical report of Venmyn Rand (Pty) Ltd dated May 29, 2012 and entitled “Updated National Instrument 43-101 Independent Technical Report on the Ngayu Gold Project, Orientale Province, Democratic Republic of the Congo”.  A copy of the said report can be obtained from SEDAR at www.sedar.com and EDGAR at www.sec.gov.

About Loncor Gold Inc.

Loncor is a Canadian gold exploration company focussed on the Ngayu Greenstone Gold Belt in the northeast of the Democratic Republic of the Congo (the “DRC“).  The Loncor team has over two decades of experience of operating in the DRC.  Loncor’s growing resource base in the Ngayu Belt currently comprises the Imbo and Makapela Projects.  At the Imbo Project, the Adumbi deposit and two neighbouring deposits hold an inferred mineral resource of 3.466 million ounces of gold (42.996 million tonnes grading 2.51 g/t Au), with 84.68% of this resource being attributable to Loncor.  Loncor is currently carrying out a drilling program at the Adumbi deposit with the objective of outlining additional mineral resources.  The Makapela Project (which is 100%-owned by Loncor and is located approximately 50 kilometres from the Imbo Project) has an indicated mineral resource of 614,200 ounces of gold (2.20 million tonnes grading 8.66 g/t Au) and an inferred mineral resource of 549,600 ounces of gold (3.22 million tonnes grading 5.30 g/t Au).

Additional information with respect to Loncor and its projects can be found on Loncor’s website at www.loncor.com

Cautionary Note Concerning Forward-Looking Information

This press release contains forward-looking information.  All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding drill results at the Adumbi deposit, mineral resource estimates, converting inferred mineral resources at Adumbi into a higher confidence category, potential underground mineral resources, potential mineralization, potential gold discoveries, drill targets, exploration results, and future exploration and development) are forward-looking information.  This forward-looking information reflects the current expectations or beliefs of the Company based on information currently available to the Company.  Forward-looking information is subject to a number of risks and uncertainties that may cause the actual results of the Company to differ materially from those discussed in the forward-looking information, and even if such actual results are realized or substantially realized, there can be no assurance that they will have the expected consequences to, or effects on the Company.  Factors that could cause actual results or events to differ materially from current expectations include, among other things, the possibility that future exploration (including drilling) or development results will not be consistent with the Company’s expectations, the possibility that drilling programs will be delayed, activities of the Company may be adversely impacted by the continued spread of the widespread outbreak of respiratory illness caused by a novel strain of the coronavirus (“COVID-19”), including the ability of the Company to secure additional financing, risks related to the exploration stage of the Company’s properties, uncertainties relating to the availability and costs of financing needed in the future, failure to establish estimated mineral resources (the Company’s mineral resource figures are estimates and no assurances can be given that the indicated levels of gold will be produced), changes in world gold markets or equity markets, political developments in the DRC, gold recoveries being less than those indicated by the metallurgical testwork carried out to date (there can be no assurance that gold recoveries in small scale laboratory tests will be duplicated in large tests under on-site conditions or during production), fluctuations in currency exchange rates, inflation, changes to regulations affecting the Company’s activities, delays in obtaining or failure to obtain required project approvals, the uncertainties involved in interpreting drilling results and other geological data and the other risks disclosed under the heading “Risk Factors” and elsewhere in the Company’s annual report on Form 20-F dated March 31, 2021 filed on SEDAR at www.sedar.com and EDGAR at www.sec.gov.  Forward-looking information speaks only as of the date on which it is provided and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.  Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.

For further information, please visit our website at www.loncor.com or contact:

Arnold Kondrat, CEO, Tel: (416) 366-7300
Peter Cowley, President, +44 7904 540 856
John Barker, VP of Business Development, +44 7547 159 521

Precious Metals

Palladium One Shares Jump 10.26% After Reporting Drill Results 112 metres of 2.08% PdEq at LK, Finland

Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported results of Kaukua South hole LK21-081, which…

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Palladium One Mining Inc. [PDM-TSXV; NKORF-OTC; 7N1-FSE] reported results of Kaukua South hole LK21-081, which intersected 4.07 g/t palladium equivalent (PdEq) over 24 metres, within 2.08 g/t PdEq over 112 metres, starting at 171.5 metres depth.

This represents the highest-grade intercept over width that drilling has returned to date, at the Kaukua South zone of the 100%-owned LK project in Finland. In addition, down-plunge drilling is successfully expanding higher-grade core zones to depth as demonstrated by hole LK21-080, which intersected 1.86 g/t PdEq over 40.5 metres, including 2.95 g/t PdEq over 3.0 metres from 229.5 metres depth. Multiple holes now demonstrate increasing grade and widths at depth.

Derrick Weyrauch, president and CEO, commented: “Our Kaukua South discovery continues to deliver excellent results and demonstrates potential for higher-grade core zones within the Kaukua area. We believe there are several other higher-grade core zones yet to be defined based on the significant number of drill targets still to be tested.”

Hole LK21-081 returned 234 gram-metres, surpassing hole LK20-016, which returned 201 gram-metres reported October 22, 2021. These holes are part of two parallel higher-grade, southwest-plunging core zones or shoots at Kaukua South. A similar core zone occurs at the existing Kaukua deposit, where it occupies a linear depression in the footwall contact.

These core zones may represent magma channels, within the marginal phase of the Koillismaa mafic-ultramafic complex, that have thermally eroded the footwall rocks. Induced polarization (IP) surveys have proven very effective at targeting these higher-grade core zones, and two potential new zones have been identified to the west and east of the drill-defined mineralization at Kaukua South, see news release dated July 7, 2021. Refer to company press release for complete drill results.

The company is now calculating palladium equivalent using $1,600 (U.S.) per ounce for palladium, $1,100 (U.S.) per ounce for platinum, $1,650 (U.S.) per ounce for gold, $3.50 (U.S.) per pound for copper and $7.50 (U.S.) per pound for nickel consistent with the calculation used in the company’s September, 2021, National Instrument 43-101 Haukiaho resource estimate.

Spot gold equivalent

Spot palladium and gold equivalents are calculated using recent spot prices for comparison purposes using US$2,300/oz palladium, US$1,000/oz platinum, US$1,800/oz gold, US$4.50/lb copper and US$9/lb nickel.

Palladium One Mining’s flagship project is the Lantinen Koillismaa project, a palladium-dominant platinum-group-element-copper-nickel project in north-central Finland, ranked by the Fraser Institute as one of the world’s top countries for mineral exploration and development. Exploration at LK is focused on targeting disseminated sulfides along 38 km of favourable basal contact and building on an established NI 43-101 open-pit mineral resource.

 

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Precious Metals

September Gold Forecast Update: “Only” 68 Analysts Now Forecast Gold Going To $3,000 Or More (+19K Views)

Many analysts are projecting that gold will be going at least as high as $3,000/ozt over the next few years. One analyst even claims that gold will spike…

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More and more analysts are projecting that gold will be going at least as high as $3,000/ozt over the next few years. One even claims that gold will spike up to $87,500/ozt.! Below is a revised list of their names and stated rationale for each of their forecasts.

By Lorimer Wilson, editor of munKNEE.com – Your Key To Making Money!

$50,000+ Gold

1. Jim Sinclair: $50,000 in 2025 and to $87,500 by 2032

  • In a recent YouTube video Sinclair said that, with so many U.S. Dollars being printed to uphold the economy as a result of COVID-19, that Gold will rise to $50,000/ozt. (i.e. go “straight up” in Sinclair’s words) at the end of the 45-year gold cycle which is coming up in 2025 and rise up to $87,500/ozt. by the end of 2032. Source

$25,000 Gold

1. Erik Lytikainen: $25,000 by 2030

  • “We will not be surprised to see $25,000 per troy ounce of gold by the year 2030.  It will likely be a volatile ride higher, with large drawdowns along the way.” Source

2. Martin Armstrong: $25,000

  • “Gold should theoretically sell for $25,000 a troy ounce, given the monetary prolificacy since 1980”…in reference to the ever soaring $3.3 Trillion U.S. budget this year, alone. Source

$20,000 Gold

1. Goldrunner: $20,000 between mid-2028 and end of 2029

  • “As a result of the recent massive paper money printing, our chart work suggests that gold could possibly spike up to as high as $20,000 per troy ounce – or even a bit higher – some time between mid-2028 and the end of 2029.” Source

2. Pierre Lassonde: $20,000 in 2 – 5 years

  • “Gold prices should skyrocket to much higher levels, even $20,000/ozt. in two to five years’ time, as gold reaches a price level close to the level of the Dow Jones Industrial Index.” Source

3. Egon Von Greyerz: $20,000

  • “I believe a gold price of $20,000/ozt. is very probable, even without high inflation.” Source

4. Leigh Goehring: $10,000-$15,000 by 2027-28

  • “Our target is between $10,000-$15,000 per troy ounce.,,[by] 2027-28.” Source

5.  Briton Hill: $5,000-$20,000 in next 5 to 10 years

  • “You can’t produce trillions of dollars with 0% interest rates and not introduce inflation. Long-term, we could be entering a cycle similar to the 1970s, where the precious metal sector rose by thousands of percentage points, and if we see something like that happen again in the next 5-10 years, we could easily see $5,000, $10,000, even $20,000 gold,” he said. “Gold could easily hit $20,000 per troy ounce in the next decade.” Source

$10,000 Gold

1. James Rickards: $10,000

  • “$10,000 per troy ounce is not pie in the sky. It’s not a number I pulled out of a hat to get headlines. It’s the actual mathematical implied non-deflationary price of gold.” Source

2. Daniel Oliver: $10,000

  • “The money to push gold over $10,000 per troy ounce has already been printed and now they are going to print more…No doubt strong fiscal and monetary intervention may extend its life for a time, but then the ultimate price objective for gold will then be markedly higher.” Source

3. Max Keiser: $10,000

  • To deal with the disaster of “trash fiat money” choking the global economy, a new gold standard will need to be introduced “and to make it work, we will see gold’s price top $10,000 per troy ounce.” Source

4. Adam O’Dell: $10,000

  • “The price is guaranteed to hit near $10,000/ozt..” Source

5. AG Thorson: $7,000 – $10,000

  •  “By the end of this decade, we expect gold to reach $7,500 – $10,000 per troy ounce.” Source

6. Peter Schiff: $5,000 to $10,000

  • Schiff projects a price of between $5,000 and $10,000 per troy ounce, and says the Dow Jones Industrial Average, which is now valued at about 12 times the price of gold, will trade at just 7.5 times instead. Eventually, he sees gold and the Dow trading at even money. Source

7. Don Durrett: $3,000 to $10,000

  • “My price target for gold is somewhere between $3,000 and $10,000 per troy ounce.” Source

8. David Smith: $10,000

  • “Gold could reach US$10,000 per troy ounce by the end of the bull market.” Source

9. Bob Kirtley: $10,000

  • “My target has been $10,000/ozt. since June 2006, so at that point, an exit strategy will be executed, hopefully with some handsome profits.” Source:

10. Scott Minerd: $5,000 to $10,000

  • “As chaotic price swings of the crypto world push investors back into gold and silver, the precious metals will start to build momentum, with the ultimate gold price target set at $5,000-$10,000 per troy ounce.” Source

$7,000 -$9,000 Gold

1. Florian Grummes$8,000 to $9,000 in 5 to 10 years

  • “We could end up having gold at $8,000 to $9,000 per troy ounce in five to 10 years.” Source

2. Ronald-Peter Stoeferle and Mark Valek: $4,800 to $8,900 by 2030

  • “The proprietary valuation model shows a gold price of $4,800/ozt. at the end of this decade, even with conservative calibration. Should money supply growth develop in a similar inflationary manner to that of the 1970s, a gold price of $8,900/ozt. is conceivable by 2030.” Source

3. Graham Summers: $8,000

  • “Gold first rallied about 630% from 2003-2011. It then corrected about 43% before bottoming in 2015 at $1,060/ozt.. If it follows a similar second leg up this time around, it’s going to ~$8,000 per troy ounce before it peaks.” Source

4. Hubert Moolman: $7,758

  • “In my opinion, it is virtually guaranteed that gold will again catch up with the Dow’s performance since 1913, and significantly surpass it just like in the 70s. This means we will likely see gold reach $7,758/ozt. (in the near future) and eventually go on to reach multiples of that high.” Source

5. Gov Capital: $5,837 by 2023; $7,220 by 2024; $8,531 by 2025

  • “5 year gold forecast: $8530.74/ozt.” Source

6. Jason Hamlin: $4,000 to $8,000 by 2025

  • “We fully expect to see the gold price close out the year 2025 somewhere between $4,000 and $8,000 per troy ounce.” Source

7. Jeff Clark: $3,000 to $8,000 in 5 years

  • “Potential 5-year high: $3,000 to $8,000 per troy ounce.” Source

8. Charlie Morris: $7,166

  • “A bullish target of $7,166/ozt. is both logical and plausible.” Source

9. Tom Fitzpatrick: $4,000 to $8,000

  • “We see no reason why this bull market cannot be as strong as the prior two averaging a multiple of eight times over an average of 7 years. Translating that to the $1,046/ozt. low in 2015 would come up with a number north of $8,000/ozt. possibly in as little as the next 2-3 years. Even if that sounds aggressive, a move similar to what we saw in 2009-2011 would suggest close to $4,000/ozt..”

10. Mike McGlone: $7,000 by 2025

“From 2001-2011, gold advanced about 7.5 times, which if repeated would bring it to around $7,000/ozt. in 2025.” Source

$4,000 – $5,000 Gold

1. Rob McEwen: $5,000

  • The founder of Goldcorp Inc., McEwen predicts that gold will soar to $5,000 a troy ounce, bolstered by a weaker dollar and waning demand for trendy assets like pot stocks. Source

2. Victor Dergunov: $5,000 in 3-5 years

  • “Gold at $5,000/ozt. in 3-5 years seems plausible, and it is likely to continue to go higher after that.” Source

3. Dan Popescu: $5,000 in 5 years

  •  “Gold price could break above $5,000/ozt. in the next 5 years.” Source

4. David Morgan: $5,000 before the end of the decade

  •  “Gold could hit $5,000 a troy ounce this decade, especially as the greenback loses purchasing power.” Source

5. Moe Zulfiqar: $5,000 by 2030

  • ” It wouldn’t be shocking to see gold at $5,000 per troy ounce, or more, by 2030. ” Source

6. Brian Whitfield: $5,000 by 2030

  • “I feel I am safe, and being conservative, in saying that gold should be trading between $3000 – $5000 per troy ounce in ten years. Should the U.S. dollar fail and/or the U.S. dollar loses the coveted global reserve currency status and/or even the loss of the petrodollar, gold could hit these level far sooner.” Source

7. Chris Wood: $5,386

  • “The gold price of US$850/ozt. at the peak of the last secular bull market in gold in January 1980 was then equivalent to 9.9% of US disposable income per capita. The gold price is now just 3.6% of US disposable income per capita. Therefore, to reach 9.9% of US disposable income per capita means gold should rise to US$5,386/ozt.. Source

8. Ole Hansen: $4,000

  • “$4,000/ozt. probably is a little bit far-fetched as the world looks right now, but if you look years into the future, then that is possible because the repercussions of what we’re going through right now with the pandemic and the aftermath is going to be something that’s going to be felt for at least this generation and potentially beyond.”  Source

9. Geraldo Del Real: $3,000 to $5,000

  • “I actually think $3,000 to $5,000 per troy ounce is very reasonable.” Source

10. Thomas Kaplan: $3,000 to $5,000 by 2030

  • “Gold prices could rally as high as $3,000 to $5,000 per troy ounce within a decade.” Source

11. David Rosenberg: $3,000 to $5,000

  • “A $3,000 to $5,000 per troy ounce target.is fundamentally justified based on the facts we have today.” Source

12. Gary Christenson: $3,000 to $5,000 by 2022

  • “A reasonable “status quo” valuation for gold in 2021 is around $3,000/ozt..  Prices will fall below and occasionally spike much higher than the valuation so a gold price of $5,000/ozt. in 2020 – 2022 is plausible.” Source

13. Shaun Djie: $3,000 to $4,000 within 10 years

  • “In the next 10 years, gold will continue to be volatile. Gold could trade anywhere between the levels of $3,000 or $4,000 per troy ounce in the next ten years given how much cash will be potentially put into the economy.” Source

14. Frank Holmes$4,000 in 3 years

  • “The yellow metal is set to rally in the same fashion as in the aftermath of the last recession and, if cycles are exactly the same, gold could go to $4,000/ozt.”. Source

15. Diego Parrilla: $3,000 to $5,000 in the next 3 to 5 years

  • Unprecedented monetary stimulus is fueling asset bubbles and corporate debt addiction — rendering interest-rate hikes impossible without an economic crash. In the ensuing market mania gold could rise to $3,000 to $5,000 per troy ounce in the next three to five years. Source

16. Massimiliano Bondurri: $3,000 to $5,000 in 3 to 5 years

  • Massimiliano Bondurri, a capital founder and a CEО of SGMC, believes an ounce of gold will rise in price to $3,000 -$5,000 per troy ounce in the next 3-5 years. Source

17. Eric Fry: $3,000 to $4,000

  • ‘When this ballgame ends, gold with be trading for at least $3,000 a troy ounce, and an extra-inning affair would not surprise me — lifting the gold price past $4,000/ozt..” Source

18. Michael Cuggino: $4,000

  • Cuggino, CEO of the Permanent Portfolio Family of Funds, a $1.9 billion mutual fund that is conservatively run and rated four stars by Morningstar, says it would “not be an unreasonable move” for gold to breach $4,000/ozt.. Source

19. Kirk Spano: $3,000 by mid-decade; $5,000 possible

  • “$3,000/ozt. mid-decade [with] upside potential to $5,000 per troy ounce.” Source

$3,000 – $3,500 Gold

1. Chris Vermuellen$3,500

  •  “Expect to see an ultimate peak price in gold well above $3,500/ozt..” Source

2. Victor Dergunov: $3,500 by end of 2022

  • “When we consider that the monetary base is likely to surge to around $8 trillion by year-end, we can conclude that this will give us around a 10,000% increase from the roughly $80 billion in monetary base the U.S. had in the early 1970s. Likewise, we can apply a similar percentage to the $35/ozt. gold price around the same period. A 10,000% increase from the $35 gold price would put gold prices at around $3,500 per troy ounce, roughly 100% higher than where the price of gold is today, [and] I think it is quite likely that we will see gold prices appreciate to $3,500/ozt. by the end of 2022.” Source

3. Charles Gibson$3,281

  • “Since 1967, the price of gold has shown an extremely strong (0.909) correlation with the total U.S. monetary base. The more dollars that either are, or could be, in circulation, the higher the expected gold price. With the total US monetary base now closing in on US$5.5tn the gold price could very reasonably be expected to rise to as high as US$3,281/ozt.” Source

4. Bank of America: $3,000 by end of 2021

  • BoA raised its 18-month price target for gold to $3,000 a troy ounce citing the prospects of endless monetary expansion from central banks, including the Federal Reserve, to limit the economic damage from the COVID-19 pandemic. Source

5. WingCapital Investments: $3,000

  • “Using the post-2008 bull market as a guideline during which gold more than doubled within the ensuing 3 years, $3,000/ozt. would be a reasonable long-term target in our opinion.” Source

6. Barry Dawes: $3,000 within 2 to 3 years

  • “I expect to see $3,000/ozt. in gold over the next 30 months.” Source

7. Brian Lundin: $3,000 by 2024

  •  “I think we’ll set a new record in real terms, exceeding $3,000/ozt., at some point over the next four years or so.” Source

8. Byron King: $3,000

  • “I think Bank of America is on track. I don’t think there’s any question gold will see $3,000/ozt.. As with all things in life, it’s just a question of how long it will take.” Source 

9/10. Ben Morris and Drew McConnell: $3,000

  • “$3,000 per troy ounce isn’t a long shot.” Source

11. Alex Mashinsky: $3,000 by end of 2021

  • Mashinsky sees gold climbing to $3,000/ozt. by the end of next year but admits that even more gains are possible depending on how bad the currency debasement gets. Source

12. Robert Kiyosaki: $3,000 within 1 year

  • “I predict $3,000/ozt. gold in 1 year.” Source

13. Stewart Thomson: $3,000

  •  “Queen Gold is assured of launching above the key $2,000/ozt. price zone, ready to begin a rocket blast towards my medium-term $3,000/ozt. target!” Source

14. Mark O’Byrne: $3,000 in next 12 months

  • “Gold is quite likely to climb to $3,000/ozt. in the next 12 months.” Source

15. John Ing: Higher than $3,000

  • “We expect gold to trade higher than $3,000 a troy ounce due to a lower greenback and solvency concerns.” Source

16. Joe Foster: $3,200 to $3,400

  • “We…believe this to be a deflationary cycle and both recent deflationary gold bull markets suggest that a price over $3,000 per troy ounce is reasonable. In fact, if one believes, as we do, that the current central bank stimulus to fight the impacts of the COVID-19 virus, along with elevated levels of systemic risks, are similar to those during the global financial crisis, then $3,400/ozt. may be the target for this bull market.” Source

17. SomaBull: $3,000

  • “The money supply is quickly heading to levels that would support a $3,000/ozt. gold price well in excess of fair value by the time this bull market is exhausted.” Source

18/19. Yvo Timmermans and Paul Van den Noord: $1,900 to $3,000 over next 18 months

  • “We anticipate gold will fall within a bandwidth of $1,900 and $3,000 per troy ounce over the next 18 months.” Source

20. Jordan Roy-Byrne: +$3,000

“Gold is currently building the handle portion of a cup and handle pattern, which we anticipate could break to the upside sometime in 2022 or early 2023. The measured upside target is $3,000/ozt., but these charts argue the run could go farther.” Source

21. Adam Trexler: $3,000

“With inflation coming, we’ll see gold over $2,500/ozt. in real dollar terms but we’ll see a devaluing of the dollar…[and] if you see 10% inflation, the dollar number value of gold could be much higher. I don’t think $3,000/ozt. gold is impossible and, if we see a hyperinflation scenario, it could be significantly higher.” Source

What do you think of the above price forecasts? Have your say in the “Comments” section below. Also, if I have missed other analyst forecasts (they must be within the last year) please mentioned them below and I will include them in a future article.

About Lorimer Wilson

Lorimer Wilson with Gold BarLorimer Wilson is an economic & financial commentator who has written numerous articles on economics, finance, precious metals, and the cannabis stock sector. He is the Managing Editor of munKNEE.com, a site that provides a selection of the internet’s best finance articles in an edited, reformatted and abridged format to ensure a fast and easy read.

 munKNEE.com has joined eResearch.com to provide you with individual company research articles and specific stock recommendations in addition to munKNEE’s more general informative articles on the economy, the markets, and gold, silver and cannabis investing.
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The post September Gold Forecast Update: “Only” 68 Analysts Now Forecast Gold Going To $3,000 Or More (+19K Views) appeared first on munKNEE.com.

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Precious Metals

Beauce Gold Fields Drill Program Intersects a 1 Km Mineralized Corridor Parallel to the Placer Gold Channel

Beauce Gold Fields (Champs D’Or en Beauce) (TSX Venture: ¨BGF¨), (“BGF”), is pleased to announce…

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Beauce Gold Fields (Champs D’Or en Beauce) (TSX Venture: ¨BGF¨), (“BGF”), is pleased to announce that it has completed the first drill program to test numerous high-priority targets on the Company’s Beauce Gold property located in Saint-Simon-les-Mines, Quebec.   All 38 diamond drill holes totalled 4,585 meters. All holes have intersected significant widths and over 1,000 meters in length of favourable mineralized structures along multiple strike zones trending parallel to the historical placer gold channel.

Patrick Levasseur, President and CEO of Beauce Gold Fields said, “Another first for this historical placer gold property.  We are very excited that our diamond drill program has identified a 1 KM long mineralized corridor, that is part of a gold bearing system in the bedrock first identified by our surface work.” Mr. Levasseur added: “We look forward to receiving assay results and to continue building our understanding of these newly discovered mineralized structures.   Results thus far increase our confidence that this could lead us to a lode gold discovery and to the possible source of the historical placer gold deposit”

Figure 1: Drill Hole Map of St-Gustave and Poulin Areas

SAINT-GUSTAVE AREA:

This sector was quickly identified as a priority target, based on previous geophysics, mapping, and trenching work. Notably, the 2020 work by Marc Richer Lafleche PhD Geo., of INRS who identified the presence of visible gold in the trenches TR-2020-01 (Bulk A), TR-2020-02 (Bulk B) and TR-2020-05 (Bulk C). These trenches are spaced more than 200m apart and oriented on an NNE-SSW axis. (BGF press release May 12, 2021)

Nineteen (19) boreholes (SM-21-3-5-6-7-8-9-10-11-12-13-14-15-16-17-18-19-25-28-29) were positioned to intercept mineralized zones at depth. The zones extend at least 350m in length. The 300m-deep SM-21-03 was drilled to intersect a gold bearing zone (Busque Tr-2020-51 and Tr-2020-46) at a vertical depth of around 230m. The drilling also tested the zone of gold anomalies found in the trenches at approximately 45m vertical depth. Several short holes were drilled to obtain HQ dimension cores in areas favourable to visible gold mineralization as demonstrated in hole SM-21-08 (BGF press release August 8 2021).

All these 19 holes were drilled along the main mineralized structure (containing gold, arsenopyrite, pyrite, chalcopyrite, sphalerite) covering an area of 1000m in length and by 350m in width. This structure remains open laterally.  Many holes have been spaced 30m between the trenches. Others were drilled below tunneling found on the property from the St-Gustave placer gold mine operated by Champs-D’Or Rigaud-Vaudreuil company in the 1910s.

Two step out drill holes (SM-21-26, Sm-21-27) intersected a stockwork zone beneath an outcropping northeast of Rang Saint-Gustave near the Gilbert River. Several blue quartz veins have been noted and sampled for gold.

POULIN AREA

The nine holes (SM-21-01,16 ,20, 21, 22, 23, 24, 34 and 35) were drilled under the Tr-10008 trench (BGF press release January 1, 2019) and the extensions of the anomalous gold zone. Drilling indicates that this zone is developing at depth and laterally and that it would be open on each side of the trench. The arsenopyrite, pyrhotite and chalcopyrite mineralization are more significant in certain holes.

Drilling from the St-Gustave and Poulin areas confirms that the mineralization at Saint-Simon-les-Mines is hosted within a ductile deformation zone which developed mainly in the axial planes of anticline folds. The heterogeneity of the rocks and the contrasting lithological competencies allowed the development of fractured zones which favoured the circulation of mineralizing fluids.

RANG 6 AREA:

Another region that has been investigated is located approximately 700m northeast of Rang Saint-Gustave. A series of four boreholes (SM-21-30 to SM-21-34) were oriented along an NNE-SSW axis which is approximately 450 meters long. The purpose of these holes was to test bedrock structures below the strong placer gold values obtained in the past in the gravels of a small tributary of the Gilbert River (Section G-80-A, 3.65g/m3 Au, 1987 GM46544).

HISTORICAL PLACER GOLD CHANNEL:

Six boreholes (SM-21-2, 4, 36, 37 and 38) were drilled to test structures below sections of the historical placer channel that was mined by a dredging operation in the 1960s. The drilling was also oriented to verify some of the highest gold grades recorded by historical overburden drilling (BGF press release January 21, 2021). Some holes have mineralized quartz veins which will be analyzed.  Borehole SM-21-04 was designed to test an induced polarization anomaly.

Drill cores are currently being logged and selected split drill core samples sent to Actlab laboratory for analysis. Further updates will be provided as assay results become available.

The drill program is supervised by Jean Bernard, B,Sc. Geo and is a qualified person as defined by NI 43-101, that has reviewed and approved the technical information presented in this release

SHARES FOR DEBTS

In accordance with the agreement between BGF and Agora Internet Relations Corp., entered into on August 1, 2020 for the term ending July 31, 2021, BGF Board has approved the issuance of 80,714 common shares at a deemed price of $0.14  per share to pay $11,300 for services rendered during the period from May 1, 2021 ending July 31 2021. Each share issued pursuant to the debt settlement will have a mandatory four (4) month and one (1) day holding period from the date of closing. This debts settlement is subject to the TSX Venture Exchange approval.

About Beauce Gold Fields

Beauce Gold Fields is a gold exploration company focused on placer to hard rock exploration in the Beauce region of Southern Quebec.  The Company’s flagship property is the St-Simon-les-Mines Gold project site of Canada’s first gold rush that pre-dates the Yukon Klondike.  The Beauce region hosted some of the largest historical placer gold mines in Eastern North America that were active from 1860s to the 1960s It produced some of the largest gold nuggets in Canadian mining history (50oz to 71oz). The intent of Beauce Gold Fields is to trace the placer gold workings back to the bedrock source and uncover economic bedrock gold mineralization.

Comprising 152 contiguous claims and 7 real estate lots, the project area contains a six-kilometer long placer gold channel consisting of unconsolidated gold-bearing auriferous units of a lower saprolite and an upper brown diamictite.

The Company has identified a major Fault Line in bedrock that coincides with geophysical findings of an interpreted fault structure  across the property, referred to herein as the AMT Shear. Evidence suggests the erosion of the AMT Fault or related splay fractures as a probable source of the historical placer gold channel, and has conducted bedrock sampling and geophysics outside the expression of the placer gold channel. This is the target of the current drill program.

Beauce Gold Fields website www.beaucegold.com

For further information contact

Patrick Levasseur, President and CEO Tel: (514) 262-9239
Bernard J. Tourillon, Chairman and COO Tel (514) 907-1011
www.beaucegold.com

 

Disclaimers:

This press release contains certain forward-looking statements, including, without limitation, statements containing the words “may”, “plan”, “will”, “estimate”, “continue”, “anticipate”, “intend”, “expect”, “in the process” and other similar expressions which constitute “forward-looking information” within the meaning of applicable securities laws. Forward-looking statements reflect the Company’s current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, our expectations regarding mineral exploration. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company’s on-going filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable securities laws.

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 accuracy of this release.

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