eResearch | The price of gold posted a gain for the month, supported by growing investment demand and production cut-back due to COVID-19 related mine shutdowns. The World Gold Council reported that investment demand increased in the first quarter of 2020 by 80% compared to the same period in 2019.
Gold pundits continue to press the case that the gold price should be higher based on the monetary stimulus by governments worldwide and grim short-term economic outlook.
Meanwhile, gold explorers and developers continue to drill; here are some highlights for April.
- GFG Resources (TSXV: GFG) had one of the overall best results (interval x grade) in April at the company’s Pen Gold deposit near Timmins, Ontario – 8.5 metres at 71.3 g/t Au.
- Roxgold (TSX: ROXG) announced additional drill results from the company’s Seguela Gold Project located in Côte d’Ivoire and had results with two highlight holes that made the top 20 in April – 10 metres at 59.4 g/t Au and 12.0 metres at 13.8 g/t Au.
- G2 Goldfields Inc. (TSXV: GTWO) announced results from the company’s Oko-Aremu project in Guyana, which included drilling at the Aremu Mine Zone and the Oko Deformation Zone – highlight holes included 2.4 metres at 116.6 g/t Au and 2.7 metres at 49.0 g/t Au.
- Monarch Gold (TSX: MQR) released the first of seven holes drilled at the company’s Fayolle gold project near Rouyn-Noranda, Quebec, returning 109.0 metres at 3.33 g/t Au.
- Kirkland Lake Gold (TSX: KL) had the highest-grade result, 2.4 metres at 141.3 g/t Au, after drilling through the east portion of Main Break at the Macassa Mine but the company also reported other high-grade results from outside their current resource at the SMC East deposit – 2.2 metres at 43.1 g/t Au and 2.3 m at 31.0 g/t.
TABLE 1: “Highlight Holes” – Top 25 Gold Drill Results in April
| DATE | COMPANY | TICKER | PROJECT | LOCATION | METRES | g/t Au |
| 06-Apr-20 | GFG Resources | TSXV: GFG | Pen Gold | Timmins, Ontario | 8.5 | 71.27 |
| 29-Apr-20 | Roxgold | TSX: ROXG | Seguela | Cote d’Ivoire | 10.0 | 59.4 |
| 30-Apr-20 | Monarch Gold | TSX: MQR | Fayolle | Rouyn-Noranda, Quebec | 109.0 | 3.33 |
| 22-Apr-20 | Kirkland Lake Gold | TSX: KL | Macassa Mine | Kirkland Lake, Ontario | 2.4 | 141.30 |
| 15-Apr-20 | G2 Goldfields | TSXV: GTWO | Oko-Aremu | Guyana | 2.4 | 116.60 |
| 08-Apr-20 | QMX Gold | TSX:V: QMX | Bonnefond | Val d’Or, Quebec | 101.0 | 2.31 |
| 13-Apr-20 | Roscan Gold | TSXV: ROS | Mankouke South | Mali | 70.0 | 3.20 |
| 09-Apr-20 | Great Bear | TSXV: GBR | Dixie | Red Lake, Ontario | 52.2 | 4.24 |
| 29-Apr-20 | Osisko Mining | TSX: OSK | Windfall | James Bay, Quebec | 2.0 | 104.00 |
| 09-Apr-20 | Calibre Mining | TSX: CXB | El Limon | Nicaragua | 10.8 | 17.77 |
| 29-Apr-20 | Rockridge Resources | TSXV: ROCK | Raney Gold | Timmins, Ontario | 6.0 | 28.00 |
| 20-Apr-20 | Roxgold | TSX: ROXG | Seguela | Cote d’Ivoire | 12.0 | 13.80 |
| 30-Apr-20 | Minera Alamos | TSXV: MAI | Santana | Mexico | 248.0 | 0.60 |
| 20-Apr-20 | Mawson Resources | TSX:MAW | Rajapalot | Finland | 19.5 | 7.10 |
| 23-Apr-20 | G2 Goldfields | TSXV: GTWO | Oko-Aremu | Guyana | 2.7 | 49.00 |
| 02-Apr-20 | Treasury Metals | TSX: TML | Goliath | NW Ontario | 19.5 | 6.30 |
| 21-Apr-20 | African Gold Group | TSXV: AGG | Kobada | Mali | 22.2 | 5.25 |
| 21-Apr-20 | Troilus Gold Corp | TSX: TLG | Troilus | Chibougamau, Quebec | 73.0 | 1.56 |
| 15-Apr-20 | Marathon Gold | TSX: MOZ | Valentine | Newfoundland | 14.0 | 8.06 |
| 21-Apr-20 | Quebec Precious Metals | TSXV: CJC | Sakami | James Bay, Quebec | 80.1 | 1.15 |
| 29-Apr-20 | Galway Metals | TSXV: GWM | Clarence Stream | New Brunswick | 14.1 | 6.50 |
| 23-Apr-20 | Skeena Resources | TSXV: SKE | Eskay Creek | Golden Triangle, British Columbia. | 22.1 | 4.11 |
| 20-Apr-20 | Velocity Minerals | TSXV: VLC | Sedefche | Bulgaria | 24.3 | 3.72 |
| 28-Apr-20 | Luminex Resources | TSXV: LR | Condor | Ecuador | 21.0 | 4.26 |
| 14-Apr-20 | Goldsource | TSXV: GXS | Eagle Mountain | Guyana | 66.0 | 1.35 |
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