Connect with us

Precious Metals

Sassy Resources Killing It in Gold Exploration on Both Canadian Coasts

Source: Peter Epstein for Streetwise Reports   08/04/2021

Peter Epstein of Epstein Research takes a deep dive into Sassy Resources, which he…

Share this article:

Published

on

This article was originally published by The Gold Report

Source: Peter Epstein for Streetwise Reports   08/04/2021

Peter Epstein of Epstein Research takes a deep dive into Sassy Resources, which he believes has two company-making project portfolios.

Last month, Sassy Resources Corp. (SASY:CSE; SSYRF:OTCQB) announced a fully funded diamond drill campaign started at its Westmore (WM) gold-silver zone in the southwestern portion of the company’s 100%-owned, 14,600 hectare Foremore (FM) project.

Last fall, a series of relatively shallow holes confirmed widespread mineralization extending to a vertical depth of >200 meters.

Initial holes this year are targeting veins mapped at surface with widths up to five meters and surface vein swarms/stockworks with total widths up to 15–20 meters. There’s real potential for a significant expansion of last year’s discovery to the south, east and at depth.

In addition to WM, crews have started ground-truthing multiple anomalies identified by a new high-resolution, deep-penetrating airborne VTEM survey done across the entire project.

Therefore, priority targets for a phase 2 drill program are present in the WM, More Creek Corridor and Hanging Valley areas.

Golden Triangle

Mark Scott, Sassy’s CEO, commented,

“The diamond drill is turning at WM on veins and swarms featuring widths significantly greater (and at lower elevation) than those intersected in our six highly encouraging maiden holes in 2020. This will give us a much deeper ‘look’ into the WM intrusive and the quartz veins which penetrate it. Crews are following up on promising preliminary results of the recently completed property-wide VTEM Survey, and we’re confident it will generate fresh drill targets later this season and beyond.”

Management plans to aggressively follow up at WM, one of the most promising of 12 targets contained in three areas of interest at FM. FM is in northwestern B.C.’s famous Eskay camp (in the heart of the Golden Triangle).

Geological mapping and prospecting continues at WM, defining local controls to the gold-silver mineralization identified last year and defining other gold-silver rich areas.

Meaningful drilling by over a dozen Golden Triangle juniors is underway. Nearby Sassy’s FM project, Tudor Gold is drilling 50,000 meters at its 17,913 hectare Treaty Creek project and Skeena Resources is drilling 40,000 meters on its Eskay Creek project.

Pretium Resources is drilling 18,000 meters around its producing Brucejack mine, Eskay Mining is drilling 30,000 meters on its Eskay project. Enduro Metals is doing 10,000 meters on its Newmont Lake project….

Strong results from any of those programs, (~160,000 meters and hundreds of holes), will attract a lot of attention to the Eskay camp/Golden Triangle, greatly benefiting Sassy.

The FM project is 2–4 drill seasons behind the much larger players mentioned above, but no less promising. Over the past three years, Tudor, Skeena and Eskay Mining are up an average of +2,100%!! from their respective lows, (gold averaged $1,560/oz. over that period).

Today, with gold at ~$1,818/oz, the valuation of Sassy’s Eskay Camp project could soar from ~$15 million. In coming years, it could (potentially) grow into the realm of more advanced Golden Triangle names like American Creek, Doubleview Gold and Goliath Resources (avg. EV of $95 million).

I estimate FM’s value based on it being half of Sassy’s Enterprise Value {market cap + debt – cash} of ~$30 million. Sassy has $7 million in cash; $3 million at the corporate level and $4 million at its Newfoundland subsidiary Gander Gold.

Phase 1 diamond drilling on the WM discovery zone is designed to test areas where surface-sampling highlighted high-grade Au and Ag values. 2019–2020 sampling at produced 860 samples with an average grade of 2.8 g/t gold. The top 20 samples averaged 75 g/t Au + 575 g/t Ag, an Au Eq. of 82.7 g/t [at $1,825/oz. gold / $25.55/oz. silver].

Westmore

CEO Scott explained,

“Armed with data gathered during the 2020 field season and our recently completed VTEM survey, we now know the WM intrusive is much larger than originally thought and coincident with some significant economic deposits in the region.”

Large owned/controlled holdings in hottest Canadian gold play—Newfoundland

Sassy/Gander Gold’s property holdings in Newfoundland (owned and controlled) total ~225,700 hectare, making it the second largest precious metal claims holder on the island (behind Exploits Discovery).

Like in B.C.’s Eskay camp, Sassy/Gander Gold has a formidable position in a world-class mining jurisdiction. I ascribe half of the company’s EV to this large, high-quality footprint.

Sassy/Gander Gold’s valuation equates to just CA$66/hectare. Compare that to an average of CA$611/hectare on four early-stage, pure-play Newfoundland peers (C2C Gold, Sterling Metals, Tru Precious Metals and Quadro Resources).

The more established names (New Found Gold, Exploits Discovery, Marathon Gold, Anaconda Mining, Labrador Gold, Sokoman Minerals and Maritime Resources), average several thousand C$/hectare.

Comparing company land packages by size alone is dubious if one parcel is much less explored/considerably less prospective/much more remote, than another. However, in the case of Newfoundland, experts believe there’s a staggering amount of high-grade gold yet to be discovered.

Newfoundland

There will almost certainly be several gold mines built on the island in the next 10–15 years.

Look at the map…. how is Sassy/Gander Gold’s land package not valued higher?

Some of Sassy/Gander Gold’s properties are squarely in the center of the fairway. In looking at a map of central Newfoundland, one would be hard pressed not to consider the Gander North and Mt. Peyton properties to be hugely prospective.

They straddle New Found Gold, and at ~140,900 hectares the parcels are larger than the combined land packages of Marathon and Labrador Gold (at ~96,000 ha), and larger than Sokoman’s 102,913-hectare footprint.

Well respected prospector Shawn Ryan has decades of experience in Canada. He’s working closely with Sassy/Gander Gold to develop and execute an effective regional exploration program utilizing extensive (low-cost) deep soil sampling and RAB drilling to generate highly prospective diamond drill hole targets.

Mr. Ryan is a foremost expert in Newfoundland and is assisting a handful of public companies including Labrador Gold, Leocor Canstar Resources & C2C Gold.

Sassy

Sassy technical advisor Mr. Ryan commented,

“Newfoundland is in the midst of a modern-day gold rush, based on substantial new gold discoveries. The key to these discoveries is structure. The ground that Sassy/Gander Gold acquired [from me] was specifically staked based on proximity to key regional structures. Each property—from Mt. Peyton, BLT, & Gander North to Cape Ray II—covers robust structures that have seen very limited or no gold exploration.”

Conclusion

Sassy has not one, but two company-making project portfolios, one in the Eskay Camp of the world famous Golden Triangle in B.C., the other in the hottest Canadian mining district of Newfoundland. Both project areas are in the heart of the action, not long-shot fringe properties.

Management, led by CEO Mark Scott and a very talented team of prospectors and P. Geos, is well funded to pursue both Canadian coasts concurrently, which will generate impactful press releases in coming months. Both areas could be worth a lot more than the approximate market valuation of ~CA$15 million each.

How much more is anyone’s guess, but there are dozens of peers in the Golden Triangle and Newfoundland (and players anxious to enter those jurisdictions), willing and able to partner with, or try to acquire, Sassy Resources.

However, make no mistake, the company’s not for sale anytime soon, not before a few years of robust exploration, on both coasts. Mark Scott, Shawn Ryan and Eric Sprott are convinced that it’s still early days in Newfoundland.

Properties in the high-grade Eskay Camp of the Golden Triangle can be some of the most valuable in the world. Sassy’s Foremore project is sizable and is surrounded by industry giants Newmont (recently acquired GT Gold), Seabridge, Teck Resources, Newcrest, Pretium, Centerra and pure-play, well-advanced juniors Skeena, Tudor Gold and Ascot Resources.

Peter Epstein is the founder of Epstein Research. His background is in company and financial analysis. He holds an MBA degree in financial analysis from New York University’s Stern School of Business.

Sign up for our FREE newsletter at: www.streetwisereports.com/get-news

Disclosures: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about Sassy Resources, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is not to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market making activities. [ER] is not directly employed by any company, group, organization, party or person. The shares of Sassy Resources are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.

At the time this article was posted, Sassy Resources was an advertiser on [ER] and Peter Epstein owned shares & warrants in the Company.

Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. While the author believes he’s diligent in screening out companies that, for any reasons whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. [ER] is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content. [ER] is not expected or required to subsequently follow or cover events & news, or write about any particular company or topic. [ER] is not an expert in any company, industry sector or investment topic.

Streetwise Reports Disclosure:
1) Peter Epstein’s disclosures are listed above.
2) The following companies mentioned in the article are billboard sponsors of Streetwise Reports: Pretium Resources and Seabridge Gold. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Sassy Resources, Pretium Resources and Seabridge Gold, companies mentioned in this article.

( Companies Mentioned: SASY:CSE; SSYRF:OTCQB,
)





Author: Author

Share this article:

Precious Metals

Freeman Gold Reports on the Beauty Zone – A High Grade Gold Target Adjacent to Lemhi Gold Resource

Freeman Gold Reports on the Beauty Zone – A High Grade Gold Target Adjacent to Lemhi Gold Resource
Canada NewsWire
VANCOUVER, BC, Oct. 25, 2021

350 metre by 250 metre coincidental gold in rock and soil anomaly open in 3 directions Located 600 metre…

Share this article:

Freeman Gold Reports on the Beauty Zone – A High Grade Gold Target Adjacent to Lemhi Gold Resource

Canada NewsWire

  • 350 metre by 250 metre coincidental gold in rock and soil anomaly open in 3 directions
  • Located 600 metres west of Lemhi gold resource
  • 52 of 105 rock samples greater than 1 g/t Au with 28 samples greater than 10 g/t Au
  • (up to 450 g/t Au)
  • Zone is heavily oxidized and silicified at surface
  • Trenching and drill pad construction are underway.

CANADIAN SECURITIES EXCHANGE: FMAN

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – Freeman Gold Corp. (CSE: FMAN) (OTCQB: FMANF) (FSE: 3WU) (“Freeman” or the “Company“) is pleased to report geochemical results from the newly discovered Beauty Zone (“Beauty Zone“). This zone lies approximately 600 metres west of the Lemhi Gold Deposit where Freeman recently reported a maiden Mineral Resource Estimate on July 8, 2021.

The untested Beauty Zone lies wholly within Freeman’s patented mining claims and is defined by a 350 metre by 250 metre coincidental gold in rock and soil anomaly. Sections of this zone were hydraulically mined between 1890 and the early 1900s. The Beauty Zone was first identified from prospecting during the 2020 field work program, described as Target 1 in the press release dated May 6, 2021. The Beauty Zone’s location in relation to the Lemhi Gold Deposit and other exploration targets is shown in Figure 1.

FIGURE 1: BEAUTY ZONE TARGETS – Location in Relation to Lemhi Gold Deposit (CNW Group/[nxtlink id=

“With the discovery of the Beauty Zone we have added a high quality target to our resource potential,” commented Paul Matysek, Executive Chairman. “We are very excited about the prospects of adding near surface, high grade oxide ounces near Lemhi. The similarities between their geological settings and the very prospective geochemical results are striking. It’s a beauty! Drill pads are being constructed for drill testing.”

In total, 105 rock grab and 347 soil samples have been collected in and around the Beauty Zone. A total of 52 rock samples returned values greater than 1 gram per tonne (“g/t“) gold (“Au“), 39 with values greater than 5 g/t Au and 28 samples with greater than 10 g/t Au (up to 450 g/t Au).  Rock samples are heavily oxidized and silicified at surface. (See Table 1: Figure 2)

TABLE 1: ROCK GRAB SAMPLE HIGHLIGHTS* (CNW Group/[nxtlink id=

FIGURE 2: BEAUTY ZONE TARGET – Rock Grab Samples (CNW Group/[nxtlink id=

One contrast to mineralization at the Lemhi Gold Deposit is the presence of associated silver in many of the anomalous rock samples.  Of the 105 rock grab sample results received to date, 48 samples at the Beauty zone contain greater than 10 g/t silver (“Ag“) (up to 219 g/t Ag).  Furthermore, the anomalous rock grabs coincide with a gold in soil anomaly (identified by Freeman during the 2020/2021 exploration campaigns) which is approximately 350 by 250 metres.

The Beauty Zone Target is hosted in Proterozoic silttites and quartzites similar to the Lemhi Gold Deposit.  The target area is structurally complex. Within the center of Beauty Zone is an interpreted Northeast-Southwest (“NE-SW“) striking fault. The host metasediments dip in opposite directions on either side of this fault (NW in the east block, SE in the west block). Although there is a limited amount of outcrop exposed, it appears that gold-silver mineralization is hosted in Northwest-Southeast oriented quartz veins which following jointing patterns running sub-perpendicular bedding and the NE trending fault. A fold observed in the outcropping quartz veins has rock grab samples containing 46 g/t Au and 56 g/t Ag. These high-grade quartz veins exposed at surface represent a compelling target with respect to gold-silver mineralization on the property (See Figure 2).

Recently, Freeman re-established road cuts over the Beauty Zone Target and exposed additional outcrops containing quartz veins, altered and oxidized silttites, silicified silttites and/or quartzites, fault gouges and folded stratigraphy. The outcrops are all currently being mapped and rock channel sampled. Drill pads are being constructed for initial drill testing.

All drill rock samples are sent to ALS Minerals Division, Vancouver, BC, an independent and fully accredited laboratory in Canada for analysis for gold by Fire Assay and multi-element Induction Coupled Plasma Spectroscopy. Freeman has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks and standards are inserted into each sample shipment. Additionally, soil samples were sent to SGS Canada Inc. and analyzed using Ionic Leach (“IL”) method. Rock grab samples are by their nature selective and are not necessarily indicative of the general geology or the grade within the Property.

About the Company

Freeman Gold Corp. is a mineral exploration company focused on the development of its 100% owned Lemhi Gold property (the “Lemhi Project“). The Lemhi Project comprises 30 square kilometres of highly prospective land. The project hosts a near surface, shallow, high grade oxide gold resource. The pit constrained National Instrument 43-101 compliant mineral resource estimate is comprised of 749,800 oz gold (“Au”) at 1.02 grams per tonne (“g/t”) in 22.94 million tonnes (Indicated) and 250,300 oz Au at 1.01 g/t Au in 7.83 million tonnes (Inferred). The Company is focused on growing and advancing the Lemhi Project towards a production decision. The technical content of this news release has been reviewed and approved by Dean Besserer, P.Geol., VP Exploration of the Company and a Qualified Person as defined by National Instrument 43-101.

On Behalf of the Company
William Randall
President & CEO

Forward Looking Statements: This press release contains “forward–looking information or statements” within the meaning of Canadian securities laws, which may include, but are not limited to statements relating to its future business plans. All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ from those in the forward-looking statements. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties, and assumptions. The Company does not undertake to update forward–looking statements or forward–looking information, except as required by law.

Neither Canadian Securities Exchange nor its regulation services provider accepts responsibility for the adequacy or accuracy of this release.

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/freeman-gold-reports-on-the-beauty-zone–a-high-grade-gold-target-adjacent-to-lemhi-gold-resource-301407346.html

SOURCE Freeman Gold Corp.





Author: Author

Share this article:

Continue Reading

Precious Metals

New Found Gold Will Use 14 Drill Rigs to Double Drill Program to 400,000m

New Found Announces Doubling of Drill Program to 400,000m and Increase to 14 Drill Rigs
Canada NewsWire
VANCOUVER, BC, Oct. 25, 2021

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – New Found Gold Corp. (“New Found” or the “Company”) (TSXV: NFG) (NYSE American…

Share this article:

New Found Announces Doubling of Drill Program to 400,000m and Increase to 14 Drill Rigs

Canada NewsWire

VANCOUVER, BC, Oct. 25, 2021 /CNW/ – New Found Gold Corp. (“New Found” or the “Company“) (TSXV: NFG) (NYSE American: NFGC) is pleased to announce an expansion of the exploration program at its 100% owned Queensway Project (“Queensway“), located on the Trans-Canada Highway 15km west of Gander, Newfoundland. To date the Company has completed approximately 51% (~102,000m) of its current 200,000m diamond drill program at Queensway. Approximately 24,000 meters of drill core is pending assay results.

Highlights

  • Nine core rigs are currently operating, with a tenth scheduled to commence in the first week of November. New Found is targeting an increase in the drill count to 14 rigs with the addition of two core rigs by the end of 2021, followed by two additional rigs in Q1 2022. The ramp up from 9 to 14 drills represents a 55% increase in the drill count with a corresponding increase in the rate of core production from approximately 3,000m per week to approximately 4,700m per week.
  • New Found plans to increase the current program at the Queensway project to a total of 400,000m, including the approximately 102,000m completed to date. Permit applications for this expansion have now been submitted.  This expanded drill program is fully funded out of the Company’s current working capital balance of approximately $103 million, which is anticipated to increase to approximately $150 million on closing of the recently announced financing by Eric Sprott. 1
  • New Found anticipates commencement of construction of a new 25,000 sq ft core processing facility in the next several weeks (the “Giga-Shack”) following approval of its permit applications.  This facility is budgeted at approximately $3 million and is scheduled to be completed by the end of Q1 2022. This state-of-the-art facility will be capable of handling the logging and processing of core from the expanded exploration program and in fact if required provides sufficient capacity for additional increases in the drilling rate. The Giga-Shack will include 27 offices covering 10,000 sq ft, in addition to 15,000 sq ft of core processing space, a roughly 3x increase to New Found’s existing Gander facilities.
  • New Found also continues to actively recruit additional professional and support staff to add to its growing team in Gander, which now totals 178 people.

Greg Matheson COO of New Found, stated: “To date our Queensway program has delivered three high-grade gold discoveries (Keats, Lotto, and Golden Joint) over 2.6km of strike along the Appleton Fault Zone. At the same time, we continue to generate and advance multiple other high-grade gold targets at the Appleton and JBP Faults along +20km of strike on Queensway North. With several new, high-priority targets and a plan for initial drilling at Queensway South in the coming months, the addition of these new rigs will allow the Company to continue to step-out at Keats, Lotto, and Golden Joint, while also honing in on other potential discoveries. Recognizing our success rate to date, we are excited to now more aggressively pursue further potential high-grade gold discoveries at Queensway.”

___________________________

1 

Note that this additional financing is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange (the “TSXV”) and approval by the shareholders of the Company if required by the TSXV.

Qualified Person

The technical content disclosed in this press release was reviewed and approved by Greg Matheson, P. Geo., Chief Operating Officer, and a Qualified Person as defined under National Instrument 43-101. Mr. Matheson consents to the publication of this news release dated October 25, 2021, by New Found. Mr. Matheson certifies that this news release fairly and accurately represents the information for which he is responsible.

About New Found Gold Corp.

New Found holds a 100% interest in the Queensway Project, located 15km west of Gander, Newfoundland, and just 18km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway.  With a current working capital balance of approximately $103 million, New Found is well funded for this program. 

Please see the Company’s website at www.newfoundgold.ca and the Company’s SEDAR profile at www.sedar.com.

Contact

To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.

New Found Gold Corp.
Per: “Craig Roberts”
Craig Roberts, P.Eng., Chief Executive Officer
Email: [email protected] 
Phone: + 1 (910) 406 2407

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.

Forward-Looking Statement Cautions

This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to assay results, exploration and drilling on the Company’s Queensway gold project in Newfoundland, interpretation of the assay results and the results of the drilling program, the discovery of zones of high-grade gold mineralization, follow-up step-out drilling and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “suggests,” “potential,” “goal,” “objective,” “prospective,” “possibly,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSX Venture Exchange, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/new-found-announces-doubling-of-drill-program-to-400-000m-and-increase-to-14-drill-rigs-301407322.html

SOURCE New Found Gold Corp.

Author: Author

Share this article:

Continue Reading

Precious Metals

Stocks, Bonds, Bitcoin, & Bullion All Bid As Billionaire Tax Threat Builds

Stocks, Bonds, Bitcoin, & Bullion All Bid As Billionaire Tax Threat Builds

First things first, when is a wealth tax not a wealth tax?…

Share this article:

Stocks, Bonds, Bitcoin, & Bullion All Bid As Billionaire Tax Threat Builds

First things first, when is a wealth tax not a wealth tax? When Janet Yellen says so…

The proposal under consideration from Senate Finance Committee Chairman Ron Wyden (D., Ore.) would impose an annual tax on unrealized capital gains on liquid assets held by billionaires, Treasury Secretary Janet Yellen said Sunday on CNN.

“I wouldn’t call that a wealth tax, but it would help get at capital gains, which are an extraordinarily large part of the incomes of the wealthiest individuals and right now escape taxation until they’re realized,” Ms. Yellen said.

But House Speaker Nancy Pelosi told CNN:

“We probably will have a wealth tax.”

But markets either a) don’t believe a word of it (given the relationship between all these billionaires as benevolent overlords of the political class), or b) don’t give a shit as The Fed will always be there…

And nowhere is this craziness more obvious than here. While Trump’s SPC (DWAC) stalled today (after rallying 800% in 2 days), TSLA and BKKT took over the crown of momentum-driven insanity kings

TSLA topped the trillion-dollar market-cap level for the first time (TSLA was up more than 1 GM today) on headline about HTZ ordering 100,000 TSLA vehicles…

Surpassing FB (ahead of tonight’s earnings) to join the ‘cuatro comas’ club…

Source: Bloomberg

All on the back of a massive gamma bomb.

@Stalingrad_Poor exclaimed:

“TSLA call options strikes up $10,000 in a single day. I’ve never seen this in my life”

NOTE: If unrealized gains are taxed as income (as several Democrats have indicated), Elon Musk would face a $30 billion tax bill for his gains this year!!

And BKKT soaring over 160% on its partnership with Mastercard on crypto rollout…

Bitcoin and Ethereum were both up today on the Mastercard news (and Neuberger Berman has linked up with BlockFi).

Bitcoin topped $63,500…

Source: Bloomberg

And Ethereum rallied back above $4200…

Source: Bloomberg

All the major US equity indices were higher today, led by Nasdaq and Small Caps. The Dow lagged but still closed green…

Record intraday (and closing) highs for The Dow and S&P today.

On a side-note, the S&P/TSX Composite rose again today – a record 14th straight daily gain (a record that stood for 102 years)…

All thanks to yet another major short-squeeze….

Source: Bloomberg

Utes and Financials lagged today while Consumer Discretionary and Energy ripped…

Source: Bloomberg

Treasuries were mixed today with yields lower across the curve aside from 30Y…

Source: Bloomberg

The yield curve (5s30s) steepened back into its recent range…

Source: Bloomberg

The dollar rallied on the day to the top of its recent narrow range…

Source: Bloomberg

WTI hit a new 7-year-high today above $85 before fading back into the red…

Gold jumped back above $1800…

Real yields dropped a little today, leaving room for a considerable move higher in gold still (to around $2000)…

Source: Bloomberg

Finally, the level of “greed” in the market is back at 2021 highs…

Source

“probably nothing” – oh and don’t forget that the last time capital gains taxes were hiked significantly was 1987 (from 20% to 28%) and that didn’t end so well eh?

Tyler Durden
Mon, 10/25/2021 – 16:00



Author: Tyler Durden

Share this article:

Continue Reading

Trending