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Japan Gold drills high-grade gold at Ikutahara, Japan

    VANCOUVER – Japan Gold Corp. [JG-TSXV; JGLDF-OTCQB] reported high-grade gold-silver intercepts from its first drill holes at the Ryuo prospect,…

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This article was originally published by Canadian Investor

 

 

VANCOUVER – Japan Gold Corp. [JG-TSXV; JGLDF-OTCQB] reported high-grade gold-silver intercepts from its first drill holes at the Ryuo prospect, within the Ikutahara project on Hokkaido Island, Japan. The Ikutahara project is 100% held by Japan Gold and is not included in the Barrick alliance.

The Ryuo prospect hosts five areas of workings along a 1-km open-ended trend of alteration and mineralization developed prior to the government-imposed closure in 1943. Three initial scout drill holes totalling 828.3 metres were completed between May and July, 2021.

Drill hole IKDD21-001 targeted down-dip extensions of high-grade gold-silver mineralization historically mined at the Jinja vein. A broad mineralized interval was encountered and returned 4.9 metres of 12.1 g/t gold and 33.0 g/t silver from 60.6 m, including 0.9 m at 18.4 g/t Au and 115.8 g/t Ag from 60.6 m and 1.95 m at 20.5 g/t Au and 21.0 g/t Ag from 63.55 m, including 0.55 m at 59.4 g/t Au and 49.5 g/t Ag from 63.9 m, including 0.25 m at 125.0 g/t Au and 97.0 g/t Ag from 64.2 m.

Drill hole IKDD21-001 shows that high-grade gold and silver mineralization remains open to depth below the Jinja vein workings and, having a true width of 4.74 metres, is significantly wider than average vein widths reported historically in the underground workings.

Drill hole IKDD21-003, located 550 metres southwest of IKDD21-001, on a separate parallel structure, targeted mineralization below the Ryuei historical workings. Four separate zones of hydrothermal breccia up to 20 metres in downhole width were intersected down the length of the 350-metre drill hole.

Zones of fine-grained or chalcedonic quartz and quartz-sulphide vein fill within the breccias included 2.12 metres of 6.3 g/t gold and 12.6 g/t silver from 81.2 metres, including 1.32 m at 8.9 g/t Au and 17.6 g/t Ag from 81.55 m, including 0.3 m at 14.8 g/t Au and 27.8 g/t Ag from 81.95 m and 0.5 m at 3.1 g/t Au and 7.2 g/t Ag from 119.7 m.

Drill hole IKDD21-002 targeted the northeast strike extension of the Shouei vein and a coincident CSAMT (controlled source audio-frequency magnetotelluric) resistivity geophysical anomaly. The drill hole failed to intersect a significant vein zone apart from a narrow quartz-stockwork/faulted zone interpreted as the northeast extension of the Shouei structure.

“The initial drill holes at Ryuo have confirmed wide high-grade vein mineralization is continuous below the historical workings closed in 1943. The Ryuo prospect has never been drilled and these initial results provide strong encouragement to continue drilling at Ryuo, and the other similarly underexplored Ikutahara prospects,” said vice-president of exploration, Andrew Rowe.

Drilling resumed September 6 to test the lateral strike extensions of the intercept in IKDD21-001 at the Jinja vein. A second drill rig is targeting a vertical CSAMT resistivity anomaly below the Taisei workings.

Economics

US stocks march on, lifted by business optimism

Benchmark US indices closed higher for the second consecutive day on Thursday September 23 lifted by positive sentiments from Fed s economic outlook…

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Benchmark US indices closed higher for the second consecutive day on Thursday, September 23, lifted by positive sentiments from Fed’s economic outlook.

The S&P 500 was up 1.21% to 4,448.98. The Dow Jones rose 1.48% to 34,764.82. The NASDAQ Composite rose 1.04% to 15,052.24, and the small-cap Russell 2000 was up 1.82% to 2,259.04.

Traders ignored the weak unemployment data released by the Labor Department on Thursday, which showed new jobless benefits claims rose by 16,000 to 351,000 in the week ended Sep 18.

Economists consider the rise in benefits claims to be because of Hurricane Ida and forest fires and not due to flawed policy action. On Wednesday, the Fed said that it might start withdrawing stimulus support from November. The statement raised confidence in the economic recovery.

Financial stocks were among the top movers on S&P 500 Thursday, while energy and real estate stocks declined. Stocks of BlackBerry Limited (BB) rose 12.08% a day after reporting quarterly results. Its revenue rose to US$175 million in Q2, FY21, from US$174 million in the year-ago quarter.

Accenture plc (ACN) stock jumped 2.63% after reporting its fourth-quarter results. Its net income was up US$1.43 billion from US$1.30 billion in the same quarter of the previous year.

Salesforce.com, Inc. (CRM) stock rallied 7.38% after it raised the full-year revenue guidance. It expects its FY 2022 revenue to be US$26.35 billion, up from its earlier forecast of US$26.3 billion.

In the energy sector, Exxon Mobil Corporation (XOM) rose 3.58%, Chevron Corporation (CVX) gained 2.51%, and ConocoPhillips (COP) gained 2.45%. Kinder Morgan, Inc. (KMI) and EOG Resources, Inc. (EOG) advanced 2.51% and 2.76%, respectively.

In the consumer discretionary sector, Nike, Inc. (NKE) increased by 1.26%, Starbucks Corporation (SBUX) gained 1.25%, and General Motors Company (GM) rose 2.24%. Ross Stores, Inc. (ROST) and Hilton Worldwide Holdings Inc. (HLT) ticked up 1.62% and 4.30%, respectively.

In financial stocks, Berkshire Hathaway Inc. (BRK-B) rose 1.65%, JPMorgan Chase & Co. (JPM) jumped 3.35%, and Bank of America Corporation (BAC) rose 3.79%. Wells Fargo & Company (WFC) and Morgan Stanley (MS) jumped 1.58% and 2.86%, respectively.

Also Read: Top five communication stocks that rode the Q2 rebound

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US stock indices closed higher on Sep 23 on positive economic outlook.

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Futures & Commodities

Gold futures were down 2.05% to US$1,742.40 per ounce. Silver decreased by 1.71% to US$22.515 per ounce, while copper fell 0.48% to US$4.2317.

Brent oil futures increased by 1.38% to US$77.24 per barrel and WTI crude was up 1.37% to US$73.22.

Bond Market

The 30-year Treasury bond yields was up 5.04% to 1.941, while the 10-year bond yields rose 7.71% to 1.434.

US Dollar Futures Index decreased by 0.39% to US$93.100.

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Economics

Culture As An Asset

#CKStrong Stunning. Hedge funds hoovering up trading cards as an “alternative to equities” with the same passion Brooks Robinson hoovered up ground…

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#CKStrong

Stunning. Hedge funds hoovering up trading cards as an “alternative to equities” with the same passion Brooks Robinson hoovered up ground balls?

This is usually a sign of the endgame for markets, i.e,, the precursor to a bear market. Think the “Great Beanie Baby Bubble” of 1999.

In general, there are two types of assets,

  1. They can be rare—gold bars, diamonds, houses on Victoria Peak, bottles of 1982 Pétrus, Van Gogh paintings, stamps, beanie babies, or Baseball cards or
  2. They can generate cash flows over time  – GaveKal

Creating An Illusion Of Scarcity

Scarcity relative to the money stock is what its all about now, folks. 

It probably won’t be long before the Fed has to bailout the baseball card market, no?

Full disclosure,  I do own a Mike Trout rookie card

Given the extreme valuations of all most all asset classes, coupled with the massive amount of money in the global financial system, markets are now really stretching, looking for, and actually attempting to create scarcity as a useful delusion to rationalize and drive speculation. 

Maybe I will start collecting poop as an “anthropological asset,” put it the blockchain, and super charge the price ramp by snapping a pictures of each sample and converting them to NFTs?

Then again, maybe all this is signaling the start of a big, big inflation cycle?  

Can you believe it, folks? 

 

 

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Articles

Mining battery metals from the sea floor – could it soon be a low-impact reality?

Low-impact sea mining could become a reality for one ambitious company with the arrival of a 228m ship in Rotterdam … Read More
The post Mining battery…

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Low-impact sea floor mining could finally become a reality for one ambitious company with the arrival of a 228-metre ship in Rotterdam earlier this week, heralding a critical milestone in its plans to become a producer of battery metals sourced from the deep ocean.

Named the Hidden Gem, the vessel is the key to The Metal Company’s (NASDAQ:TMC) vision of developing the world’s largest source of battery metals from the ocean floor with commercial production plans targeted for 2024.

TMC’s strategic partner, Allseas, will be converting a former deep-sea drilling vessel into a subsea mining vessel, retrofitting the ship with equipment to gather polymetallic nodules on the seafloor within contract areas held by TMC in the Pacific Ocean’s Clarion Clipperton Zone (CCZ).

The Hidden Gem. Pic: Business Wire

These potato-sized polymetallic nodules contain high grades of critical minerals such as nickel, manganese, copper and cobalt, which are integral to the manufacturing of electric vehicle batteries and other renewable energy technologies.
 

Enough to power 250 million EVs

Back in April 2020, TMC acquired its third seabed contract area to explore for polymetallic nodules from Tonga Offshore Mining Limited (TOML), which opened it up to a further 74,713km square block of exploration rights.

The third contract area comprises an inferred resource of 756 wet tonnes of polymetallic nodules, meaning its expanded footprint now contains enough nickel, copper, cobalt and manganese to build more than 250 million electric vehicle batteries.

Speaking to the TOML acquisition, TMC’s chairman and CEO Gerard Barron said the project will enable The Metal Company to bring more critical minerals to market to break through the bottleneck and shift away from fossil fuels.

“Our research shows that ocean polymetallic nodules can provide society with these metals at a fraction of the environmental and social impacts associated with land-based extraction.”

Pic: Supplied

 

Environmental concerns about sea floor mining

The environmental concerns which surround mining of the ocean’s floors are well documented, with several jurisdictions and regulatory bodies imposing bans and strict regulations on subsea mining due to the lack of understanding around the environmental impacts and growing fears about the irreversible effects these practices may have on the fragile ecosystems that we know very little about.

Many scientists believe that far more resources have been spent researching ways to mine the ocean floor rather than studying the impact this type of mining might have on the underwater environment.

TMC, however, believes that the Hidden Gem subsea vessel, which will deploy a 4.5km riser to collect the nodules off the seafloor without drilling, blasting or digging, can avoid much of the environmental disturbance associated with traditional sea floor mining methods.
 

Past failures

Planning to mine the oceanic crust’s wealth of mineral resources is a well-trodden path that’s seen many companies fail to deliver on their promises of production due to regulatory and financial hurdles.

Companies such as Nautilius and its high-grade Solwara 1 copper-gold project off the PNG coast is one recent example.

Nautilius had plans to turn its Solwara 1 project into the world’s first underwater copper-gold mining operation but wound up delisting from the TSX and going bankrupt in 2019.

The Canadian company had developed three undersea robots to mine hydrothermal vents on the ocean floor before funding issues became a problem midway through construction.
 

On the road to meeting deep-sea battery metals goal

There are examples of successful mining ventures in the ocean such as in Indonesia’s tin industry, diamond extraction in Namibia, and gold mining off Alaska’s coast, however these ventures are often heavily scrutinised by environmental lobby groups and constantly face the risk of being shut down due to increasing global environmental awareness and a trend towards greener policies from the governments who licence them.

While there is still plenty of obstacles and work to be done, TMC, with the help of Allseas and their new vessel, which is expected to be the first ship classified as a sub-sea mining vessel under American Bureau of Shipping, are much closer than many of their peers to realising the goal of supplying the market with battery metals from the seafloor.

The post Mining battery metals from the sea floor – could it soon be a low-impact reality? appeared first on Stockhead.

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