TAHOE RESOURCES INC NEW YORK, August 28, 2018 /PRNewswire/ --
Gold price rose on Monday after the U.S. Federal Reserve Chairman signaled that the central bank is likely to raise U.S. interest rates gradually. Gold Spot rose 0.33% to USD 1,209.31 per ounce during the Monday trading session, while U.S. Gold future for December delivery gained 0.21% to USD 1,215.90 per ounce. Fed Chairman Jerome Powell's speech at Jackson Hole on Friday suggested that a gradual rate hike will be appropriate to protect the U.S. economy and keep inflation under control. Gold price jumped about 1.7% on his comments on Friday, the biggest one-day gain since March. The market expects two more rate hikes this year. Sixty North Gold Mining Ltd. (OTC: SXNTF), Hecla Mining Company (NYSE: HL), Gold Standard Ventures Corp. (NYSE: GSV), Alio Gold Inc. (NYSE: ALO), Tahoe Resources Inc. (NYSE: TAHO)
A weaker U.S. Dollar also helps support the gold price. The Dollar index, which tracks the U.S. Dollar against a basket of six major currencies, fell 0.44% to 94.73 on Monday. According to MarketWatch, the analysts at Commerzbank, led by Carsten Fritsch, said in a note, "As in the weeks before, it was mainly a question of short positions being increased while longs remained virtually unchanged. Some of the short positions are likely to have been covered at the end of last week, especially after the price exceeded the USD 1,200 mark."
Sixty North Gold Mining Ltd. (OTCQB: SXNTF) also listed on the Canadian Securities Exchange under the ticker (CSE: SXTY). Earlier this month, the Company announced that, "it has received the metallurgical test results from a quarter ton sample of the crown pillar of the A-Zone at the Mon Gold Property.
Three separate transects across the East Limb, Fold Nose (hinge) and West Limb of the A-Zone were sampled by mechanical hammer by the Company's CEO and Director Ronald Handford and Dr. D.R. Webb. The material was bagged and tagged, and delivered to Bureau Veritas Laboratories in Yellowknife where it was shipped to their metallurgical testing lab in Richmond B.C. for testing by gravity and flotation methods.
Table 1. Summary results from metallurgical testing, 2018
Composite ID - Sample Weight Tested - Head Grade, g/t Au -----Gold Recover, %Au
(kg) Measured Calculated Gravity Flotation Overall
Composite 1 75.6 17.4 16.6 79.9 18.0 97.9
Composite 2 83.8 266.8 314.8 73.2 26.0 99.3
Composite 3 83.6 170.7 128.9 75.7 23.5 99.2
(Composite 1+2+3) 243.0 156.2 158.0 76.1 22.7 98.8
All assays by Bureau Veritas FAA550 1 assay ton sample. Average sample size=1.8 kg.
All samples were collected using an electric percussion hammer and located by tape and compass, bagged and tagged, sealed, delivered to Bureau Veritas Laboratories in Yellowknife and processed at their ISO/IEC 17025:2005 and ISO 9001:2015 metallurgical testing laboratory in Richmond, B.C. Bureau Veritas is independent of the Company. The sample was received, dried and weighed. Test grinds were completed and the samples were batched with a targeted grind of P80 -105µm."
Ronald Handford, CEO of Sixty North Gold, reports, "These results were expected based upon historic results and our recent trenching (News Release August 7th, 2018). The very high recoveries, both by gravity as well as the combined gravity plus flotation, averaging around 76% and 99% respectively are consistent with historic results. The former operators only ran a gravity mill on site. The simple mill circuit required to process this mineralization has been permitted and could be installed upon confirmation of a larger bulk sample. These results further differentiate the Mon Gold Property as an advanced exploration opportunity and past producer, and represent a significant milestone for the Company in its advancement of the project. The environmental benefits of achieving very high recoveries without the use of cyanide leaching is notable."
Mr. Handford further reports, "Crews have been on the property since June assessing all historic showings and identifying new zones. Sample results are being received and will be released upon completion and confirmation by our QP."
Hecla Mining Company (NYSE: HL), founded in 1891, is a leading low-cost U.S. silver producer with operating mines in Alaska, Idaho and Mexico, and is a growing gold producer with operating mines in Quebec and Nevada. Hecla Mining Company recently provided an update on its exploration programs during the second quarter. Casa Berardi's drilling is expanding potential size of the East Mine Crown Pillar (EMCP) pit and the proposed 160, Principal and West Mine Crown Pillar (WMCP) open pits. San Sebastian continues to refine and expand high-grade, polymetallic zones on the Middle and Francine veins. Additional oxide mineralization being defined along the Professor and East Francine veins. Greens Creek's exploration drilling continues to expand the Deep 200 South, Gallagher, East Ore, Upper Plate and Southwest Bench zone mineralized trends. "The exploration success we have seen across the portfolio in recent quarters continues," said Phillips S. Baker, Jr., President and Chief Executive Officer. "The teams at Casa Berardi, Greens Creek and San Sebastian are discovering high-grade material, both at surface and at depth. A new focus is our 110-square-mile land package in Nevada where we are integrating the existing exploration team and ramping-up drilling."
Gold Standard Ventures Corp. (NYSE: GSV) is an advanced stage gold exploration company focused on district scale discoveries on its Railroad-Pinion Project, located within the prolific Carlin Trend. Gold Standard Ventures Corp. recently reported results from 25 reverse-circulation ("RC") and 2 core holes at the Dark Star deposit on its 100%-owned/controlled Railroad-Pinion Project in Nevada's Carlin Trend. Two holes in the northern portion of Dark Star intersected impressive grades and thicknesses: 229.8m of 2.08 g Au/t and 56.4m of 2.94 g Au/t. These results confirm oxide gold resource expansion potential in the footwall of the Ridgeline fault, and continuity to higher-grade mineralization in the hanging wall of the Ridgeline fault. Jonathan Awde, Chief Executive Officer and Director of Gold Standard commented, "Dark Star continues to surprise us to the upside with several new targets emerging in the northern portion of the deposit. The high-grade feeder structures in this deposit are far more extensive than previously thought and structural limits to the mineralization we originally assumed have proved not to be limits at all. The continuity of the oxidized gold values overall, the thickness of the intervals containing exceptional grade and the near-surface accessibility of the material make Dark Star a potential stand-out among Carlin deposits. We think that an upcoming Preliminary Economic Assessment of Dark Star is likely to have a substantial impact on perceptions of shareholder value."
Alio Gold Inc. (NYSE: ALO) is a growth-oriented gold mining company, focused on exploration, development and production in Mexico and the USA. Alio Gold Inc. recently reported its second quarter 2018 financial and operational results. The San Francisco Mine produced 14,466 gold ounces and 7,661 silver ounces compared to 22,011 gold ounces and 10,332 silver ounces during Q2 2017. Gold and silver production were lower as a result of fewer ounces deposited and lower recoveries on the heap leach pads. The Florida Canyon Mine produced 4,724 gold ounces and 4,142 silver ounces subsequent to the completion of the acquisition of Rye Patch Gold on May 25th, 2018. The gold and silver production for the full Q2 2018 was 11,587 ounces and 8,734 ounces, respectively, compared to 10,846 ounces and 5,709 ounces, respectively in Q1 2018. The Company completed the acquisition of Rye Patch Gold, including the Florida Canyon Mine, on May 25th, 2018. "We were pleased to complete the acquisition of Rye Patch Gold during the quarter, adding a second operating mine to our portfolio," said Greg McCunn, Chief Executive Officer. "With two similar open pit, heap leach operations we believe that we will be able to leverage our expertise across the mines to focus on improving the operations to deliver cash flow. Disciplined capital allocation is a priority, particularly in the current gold price environment. As a result, we have made the decision to temporarily suspend development work at Ana Paula while we focus on improving our operations to unlock opportunities to increase efficiencies, lower costs and generate cash flow.
Tahoe Resources Inc. (NYSE: TAHO) is a mid-tier precious metals company with a diverse portfolio of mines and projects in Canada, Guatemala and Peru. Tahoe Resources Inc. recently announced financial and operating results for the second quarter and first half ended June 30th, 2018. The Company produced 102.6 thousand ounces of gold during the quarter at total cash costs and all-in sustaining costs ("AISC") of USD 708 and USD 1,060 per ounce, respectively. Jim Voorhees, President and Chief Executive Officer of Tahoe: "Our gold business performed well this quarter with notable improvements over the prior period. We produced 102.6 thousand ounces and we remain on track to meet our 2018 full-year production, cost and capital guidance. At Shahuindo, we achieved record quarterly production of 24.5 thousand ounces and in Timmins we achieved record quarterly mill throughput of 3,921 tons per day (tpd). Construction at our two expansion projects, the Bell Creek shaft and the Shahuindo Expansion, continue to progress nicely and both remain on track for completion by the end of the year, positioning us to achieve our target of approximately 500 thousand ounces of gold production in 2019. We reported a loss of (USD 0.05) per share for the quarter reflecting the continued impact of the Escobal mine suspension and our ongoing care and maintenance costs to maintain readiness for restart. While we are disappointed that the Constitutional Court decision is still pending, we remain focused on those issues within our control. We continue to have constructive dialogue at the Casillas roadblock and we believe we are well-positioned to resume operations at Escobal following a positive court ruling."
Subscribe Now! Watch us report LIVE https://www.youtube.com/FinancialBuzzMedia
Follow us on Twitter for real time Financial News Updates: https://twitter.com/financialbuzz
Follow and talk to us on Instagram: https://www.instagram.com/financialbuzz
Facebook Like Us to receive live feeds: https://www.facebook.com/Financialbuzz/
About FinancialBuzz.com
FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.
Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For Sixty North Gold Mining Ltd. financial news dissemination and PR services, FinancialBuzz.com has been compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.
Media Contact:
info@financialbuzz.com
+1-877-601-1879
Url: http://www.FinancialBuzz.com
SOURCE FinancialBuzz.com
