eResearch | The price of gold continues to push higher trying to crack the US$1800 mark. It appears that the U.S. Federal Reserve and U.S. Treasury will not back off from stimulus packages even if the economy is believed to have bottomed, a positive for gold prices. But the positive employment report sent optimism into the market and gold corrected but quickly rebounded upwards.
Meanwhile, gold explorers and developers continue to drill; here are some highlights for May.
- Balmoral (TSX: BAR) had one of the overall best results (interval x grade) in May with a high-grade hit of 308 g/t Au over 3 metres at its Fenelon project in Quebec.
- Skeena Resources (TSXV: SKE) announced drill results from its Phase 1 surface drilling program at Eskay Creek in B.C. and had a highlight hole of 22.5 metres of 33.82 g/t Au.
- Freegold Ventures (FVL: TSX) released assays from its Golden Summit project near Fairbanks, Alaska. Hole number GSDL2001 returned 188 metres grading 3.69 g/t Au, including 2 metres of 169.5 g/t Au.
- Rubicon Minerals Corporation (TSX: RMX) reported assay results from its 2020 drill program at its Phoenix project in Ontario, with highlights of 4.0 metres grading 130.60 g/t Au, including 385 g/t Au over 1.0 metres.
- Wallbridge Mining (TSX: WM) released multiple drill results from its Fenelon project in Quebec with highlight holes of 70.84 g/t Au over 5.4 metres, 84 g/t Au over 56.0 metres and a high-grade hit of 307.74 g/t Au over 0.5 metre.
TABLE 1: “Highlight Holes” – Top 25 Gold Drill Results in May
| DATE | COMPANY | TICKER | PROJECT | LOCATION | METRES | g/t Au |
| 01-May-20 | Balmoral | TSX: BAR | Fenelon | Quebec | 3.0 | 308.00 |
| 05-May-20 | Skeena Resources | TSXV: SKE | Eskay Creek | B.C. | 22.5 | 33.82 |
| 06-May-20 | Freegold | TSX: FVL | Golden Summit | Alaska | 188.0 | 3.69 |
| 13-May-20 | Rubicon Minerals | TSX: RMX | Phoenix | Ontario | 4.0 | 130.60 |
| 19-May-20 | Wallbridge Mining | TSX: WM | Fenelon | Quebec | 5.4 | 70.84 |
| 13-May-20 | Corvus Gold | TSX: KOR | Mother Lode | Nevada | 125.5 | 2.60 |
| 11-May-20 | Wesdome | TSX: WDO | Kiena | Quebec | 3.0 | 108.20 |
| 04-May-20 | Roscan Gold | TSXV: ROS | Mankouke South | Mali | 62.0 | 4.84 |
| 04-May-20 | Great Bear Resources | TSXV:GBR | Dixie | Ontario | 104.2 | 2.67 |
| 20-May-20 | Wallbridge Mining | TSX: WM | Fenelon | Quebec | 56.0 | 4.84 |
| 13-May-20 | Caldas Gold | TSXV: CGC | Marmato Project | Colombia | 68.9 | 3.78 |
| 12-May-20 | Rupert Resources | TSXV: RUP | Pahtavaara | Finland | 137.0 | 1.80 |
| 11-May-20 | Great Bear Resources | TSXV:GBR | Dixie | Ontario | 19.0 | 10.19 |
| 07-May-20 | Melkior Resources | TSXV: MKR | Carscallen | Ontario | 6.0 | 25.70 |
| 20-May-20 | Wallbridge Mining | TSX: WM | Fenelon | Quebec | 0.5 | 307.74 |
| 28-May-20 | Osino Resources | TSXV: OSI | Twin Hills | Namibia | 150.0 | 0.98 |
| 29-May-20 | Group Ten Metals | TSXV: PGE | Stillwater West | Montana | 8.0 | 16.94 |
| 06-May-20 | Mako Mining | TSXV: MKO | San Albino | Nicaragua | 4.2 | 30.27 |
| 27-May-20 | Mako Mining | TSXV: MKO | San Albino | Nicaragua | 1.8 | 70.0 |
| 19-May-20 | Amex Exploration | TSXV: AMX | Perron | Quebec | 19.7 | 5.36 |
| 21-May-20 | Rupert Resources | TSXV: RUP | Pahtavaara | Finland | 3.9 | 27.00 |
| 13-May-20 | IAMGOLD | TSX: IMG | Rouyn Gold Project | Quebec | 9.8 | 10.40 |
| 19-May-20 | RNC Minerals | TSX: RNX | Paleochannel | Australia | 17.0 | 5.40 |
| 27-May-20 | Mawson Resources | TSX: MAW | Palokas | Finland | 4.9 | 18.00 |
| 19-May-20 | Velocity Minerals | TSXV: VLC | Sedefche Gold Project | Bulgaria | 27.20 | 3.17 |
Source: Company reports; S&P Capital IQ; eResearch
