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Gold demand surged to a record high in 2024, driven by buying from central banks and individual investors.

Data from the World Gold Council’s (WGC) latest report on gold demand shows that in 2024, total annual demand for gold, including over-the-counter transactions, reached a record-breaking 4,974 metric tons (MT).

Annual demand was up by 1 percent year-on-year from 2023’s 4,945.9 MT.

Central banks added more than 1,000 MT of gold to their reserves for the third consecutive year, while investment demand hit a four year high, supported by a strong performance in gold exchange-traded funds (ETFs).

Central banks lead gold demand

Central banks remained the largest drivers of gold demand in 2024. As a group, they made cumulative net purchases of 1,045 MT in 2024, with the fourth quarter alone accounting for 333 MT.

The National Bank of Poland led the upsurge, purchasing 90 MT of the yellow metal in 2024, while other emerging market central banks also contributed significantly to the overall total.

This heightened demand from central banks marks a continuous shift in the global monetary system, with central banks increasingly favoring gold as a hedge against currency volatility and geopolitical tensions.

2024 was the third year in a row in which central banks’ gold purchases exceeded 1,000 MT, marking a notable increase compared to the pre-2022 average of 473 MT.

Despite questions about future demand, central banks are expected to maintain their purchasing momentum into 2025, particularly as geopolitical risks continue to influence policy decisions.

Investor demand supports gold ETF growth

Gold’s appeal to individual investors also remained robust in 2024, particularly in gold ETFs.

Investment demand for the precious metal reached 1,180 MT for the year, a 25 percent increase from 2023, with ETFs drawing significant inflows, especially in the second half of the year. These inflows were driven by factors including lower interest rates, geopolitical instability and a strengthening gold price.

In contrast to the previous three years, during which gold ETFs experienced substantial outflows, 2024 saw near-stagnant holdings by the end of the year, showing a marked shift in investor sentiment.

Market participants increasingly turned to gold as a safe haven, and the US market in particular witnessed considerable ETF inflows, driven by the relative weakness of the US dollar and concerns over inflation.

Gold jewelry demand struggles as price climbs

While investment demand soared, the jewelry sector struggled in 2024, with global jewelry consumption falling by 11 percent to 1,877 MT. The significant gold price rise during the year led to lower volumes of gold jewelry being purchased, as consumers found it increasingly difficult to afford the yellow metal.

The weakness in jewelry demand was global, though India saw relatively smaller declines compared to China, which experienced a significant drop of 24 percent from 2023.

However, the value of gold jewelry consumption increased by 9 percent, reaching a record high of US$144 billion. This allowed jewelers to achieve higher sales figures, with a marked contrast between demand volume and value.

Technology and industrial demand increases

In the technology sector, demand for gold grew by 7 percent in 2024, which the WGC attributes largely to the increasing adoption of artificial intelligence (AI) infrastructure.

Gold used in electronics rose by 9 percent year-on-year, contributing to the technology sector’s solid demand. Overall, total annual gold demand from the tech sector came to 326 MT.

While gold’s role in industrial applications is a smaller portion of overall demand, its usage in advanced technologies continues to grow, underlining its importance in cutting-edge sectors like AI, electronics and renewable energy.

Gold mine and recycling supply rise

Gold supply saw modest growth in 2024, rising by 1 percent to a record 4,974 MT, a new high for the data series. Both mine production and recycling were up compared to the prior year, with recycling climbing 11 percent.

The WGC states that the outlook for gold supply remains strong, with expectations for robust mine production and potential increases in recycling rates in the coming year.

The gold price reached an average of US$2,386 per ounce in 2024, a 23 percent increase from the previous year. In Q4, the average price peaked at US$2,663, contributing to a total value of US$111 billion for the quarter.

What’s driving gold’s record price highs?

‘I think many investors are seeing the benefits and the merits of having gold as a diversifying asset in their portfolio,’ he said. ‘I think they’re understanding that the risk shocks you might see to risk assets will continue to be something that will develop over the next two to three months at a minimum as we start to hear and see policies unpacked.’

Watch Cavatoni discuss the WGC’s latest report.

Cavatoni also pointed to expectations of lower interest rates as a motivating force for gold.

‘All of those factors are stacking up to continue to be a very strong performance driver for gold,’ he said.

Tariff uncertainty is also contributing to gold’s movement. The US has placed additional tariffs on China, and although it’s deferred tariffs on Canada and Mexico for the time being, much uncertainty remains.

In Cavatoni’s opinion, it will be key for sector participants to tune out distractions.

‘I think the key thing right now is that you can clearly see the benefits of gold in a portfolio that’s diversified. You can see the benefits of having it as a component of your allocation mentality, and I think overall what I’d say is that clients, investors and those who understand the gold market need to understand there’ll be a lot of noise,’ he noted.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

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Here’s an updated recap of the crypto landscape for Monday, February 10, 2025, as of 9:00 a.m. UTC.

Bitcoin and Ethereum price update

Bitcoin is trading at US$97,486, reflecting a 1.3 percent increase over the past 24 hours. The day’s trading range saw a high of US$97,974 and a low of US$94,747.

Meanwhile, Ethereum (ETH) is priced at US$2,646.23, showing a slight uptick of 0.008 percent over the same period. The cryptocurrency reached an intraday high of US$2,663.99 and a low of US$2,541.34.

Altcoin price update

  • Solana (SOL) is currently valued at US$203.29, marking a 1.6 percent increase over the past 24 hours, after hitting a daily high of US$205.63 and a low of US$194.02.XRP rose to US$2.42 at the end of the trading day. The cryptocurrency reached an intraday high of US$2.45 and a low of US$2.32.
  • Sui (SUI) is trading at US$3.19, reflecting a 4.6 percent increase. It achieved a daily high of US$3.25 and a low of US$2.88.
  • Finally, Cardano (ADA) is down, priced at US$0.6969, reflecting a 0.8 percent decrease over 24 hours. Its highest price today was US$0.7046 and its lowest was US$0.6538.

ETF update

SPDR S&P 500 ETF Trust (SPY) is trading at US$600.77, marking a 0.92 percent decline over 24 hours. The ETF reached an intraday high of US$611.04 and a low of US$599.31.

Meanwhile, iShares Core S&P 500 ETF (IVV) is priced at US$603.80, reflecting a decrease of 0.94 percent. The day’s trading range saw a high of US$613.75 and a low of US$602.98.

Finally, Vanguard S&P 500 ETF (VOO) is down 0.93 percent to US$552.20. The ETF recorded a high of US$561.83 and a low of US$550.92.

Crypto news to know

Donald Trump is set to announce new 25 percent tariffs on all steel and aluminum imports, escalating trade tensions.

Speaking aboard Air Force One, Trump confirmed the tariffs would be unveiled on Monday, with reciprocal tariffs following later in the week.

Meanwhile, the Central African Republic has launched a meme coin called $CAR in an effort to raise the country’s global profile.

President Faustin-Archange Touadera described it as an ‘experiment’ to showcase how a meme-based token can support national development.

The launch follows the country’s previous adoption of Bitcoin as legal tender. However, an official account for $CAR updates was suspended by X on Monday, and the government is working to restore it.

The token was trading at US$0.22 as of Monday (February 10) morning.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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E-Power Resources Inc. (CSE: EPR) (FSE: 8RO) (‘E-Power’ or the ‘Company’) is pleased to report the start of metallurgical testwork on three samples from the Company’s Tetepisca flake graphite property located in the Cote-Nord region of Québec. The objective of the testwork is to evaluate metallurgy on the samples targetting graphite concentrates > 95% graphite carbon (‘Cg’) with maximum flake size and recovery. Deliverables will include head characterizations including total carbon (‘Ct’) and Cg concentrations, size fraction analyses with flake size distributions, and Cg grade and composition concentrate. The results of the study will be used by E-Power to focus continued evaluation of the Tetepisca flake graphite property. The metallurgical testwork is being completed by SGS Canada Inc. at their Lakefield, Ontario facility.

James Cross, President and CEO of E-Power commented:‘Our Tetepsica property hosts a number of surface showings with the potential to be flake graphite resources. The 2024 propspecting on our northern claim group added to this inventory with the discovery of several new showings characterized by multiple high graphite grade samples with underlying conductor continuity. Our ongoing metallurgical test work is designed to evaluate the metallurgy and concentrate characteristics; determining, comparing, and contrasting the response from several showings. We intend to continue to evaluate the geology, mineralogy, and metallurgy of the property through the 2025 field season with the objective of prioritizing targets for drilling and resource delineation.

During the 2024 field season, a total of 1,037 kilograms (1.037 tonnes) comprising four bulk samples including the Captain Cosmos (1), Syndicate (1) and Graphi West (2) graphite showings were collected (Figure 1). Field duplicates, consisting of 2 to 3 kg samples taken from each of the bulk sample excavation sites returned Cg values that are consistent with and above the average resource Cg grade in the Tetepisca district (approximately 14% Cg). The results are presented table 1 below. The final report on a detailed mineralogy study on samples from the three target areas utilizing reflected and transmitted light petrography and a Scanning Electron Microscope is pending. Preliminary results of the study document a range of graphite grain sizes, associated gangue mineralogy and graphite grain-gangue mineral textures. All three samples contain large to jumbo flakes free of metamorphic intergrowths or inclusions supporting a positive metallurgical response.

Table 1: Cg Results from Advanced targets and comparison with historical results

Graphite Showing
(sample)
Historical Result Field Duplicate
Sample Wt. C Graphitic
C % kg %
Captain Cosmos 29.07 2.46 30.00
Syndicate 12.00 2.44 13.20
Graphi West A 19.80 2.56 17.55
Graphi West B not previously sampled 2.48 16.65

 

Cannot view this image? Visit: https://insiderlegacysecret.com/wp-content/uploads/2025/02/240239_f11b9829b4fd9890_002.jpg

Figure 1. Map of Tetepisca Property and location of bulk samples.

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9160/240239_f11b9829b4fd9890_002full.jpg

Preliminary evaluation of flake graphite recovery from the four Tetepisca samples was completed at Volt Carbon Technolgies Inc. (‘Volt’) using Volt’s proprietary dry separation techniques. The study consisted of several trial air separation runs on selected samples from each zone followed by determination of Ct and Cg of the resulting concentrates. The results confirm the presence of large and jumbo flake in all samples and indicate that graphite can be separated from Tetepisca ore feed using Volt’s dry separation technique. A high value of 96.4% Ct and 93.5% Cg was attained from the +14 mesh fraction of a trial run from the Syndicate showing and a high value of 95.8% Ct and 91.7% Cg was attained from the +40 mesh fraction of a trial run from the Graphi-West showing. The average Cg results for all trial runs of flakes +30 mesh (Jumbo) was 90.90% Cg for the Syndicate showing and 90.32% Cg for the Graphi-West showing. The average analytical results for all trial runs of flakes +40 mesh (Jumbo+Large Flakes) was 90.45 for the Syndicate showing and 89.60 for the Graphi-West showing.

The metallurgical test work being completed at SGS Canada Inc. will provide E-Power with, among other information, ore feed head grades, recovery factors, concentrate compostion, and flake size analysis which will contribute to the evaluation of resource delineation targets.

About the Tetepisca Property

The Tetepisca Property is located approximately 220 km north of the town of Baie-Comeau in the North Shore Region of Québec. The property consists of 230 claims covering an area of approximately 12,620 hectares within the emerging Tetepisca Graphite District (‘TGD’). The property is 100% owned by E-Power. Fifty-two claims, located in the southern part of the property, are subject to a 1.5% NSR held by a group of local prospectors; otherwise the Tetepisca property remains unencumbered. The TGD is an active graphite exploration and development district with delineated measured and indicated resources in excess of 120 Mt at an average grade of approximately 14% Cg. The Company’s Tetepisca property is strategically located over continuous bedrock conductive horizons that are known and interpreted to be due to graphite and which hold significant potential to host flake graphite resources. The intersection of graphite in our 2023 drilling and the results of our 2024 exploration program to date confirms the Company’s exploration model and provides the basis for continued exploration and evaluation.

Qualified Person

Jamie Lavigne, P. Geo, Vice President Exploration and Director for E-Power is a Qualified Person as defined in NI 43-101 and has reviewed and approved the technical information in this press release.

About E-Power

E-Power Resources Inc. is a Québec Corporation based in Montréal and focused on battery minerals exploration in Québec. The Company is currently advancing two projects; the Tetepisca property, located in the North Shore region of the Province and the Turgeon property located in the Abitibi region adjacent to the Ontario border. The Company’s priority target is flake graphite on the Tetepsica Property. The Turgeon property is located in the prolific Abitibi gold and base metal mining district and the Company is evaluating Turgeon primarily for its copper-zinc and gold potential.

For more information about E-Power Resources Inc. please visit the Company website at: e-powerresources.com.

Notice Regarding Forward-Looking Statements:

This news release contains ‘forward-looking statements.’ Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

For information contact: James Cross, CEO, Tel: (438) 701-3736, info@e-powerresources.com.

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Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that the 2025 drill program is underway at its 100%-owned Gaspé Copper project, located next to the town of Murdochville in the Gaspé Peninsula, eastern Québec.

2025 Drill Program

The 2025 drill program, now slated at 110,000 metres, is designed to 1) convert existing inferred resources (see press release dated November 14, 2024 ) into the indicated or measured resource categories; 2) test potential expansion of the current resources deeper to 250 m below the E Zone horizon and further to the south towards Needle Mountain; 3) further characterize higher grade skarn zones (0.5% – 3.0% Cu); and 4) validate new geological models. In addition, approximately 10,000 metres of drilling outside the main mining concession will test regional exploration targets on surrounding claims.

The first drill began turning last week and drilling is expected to end by November 2025. A second drill will arrive later this month followed by additional drills in the spring, increasing as required as the program advances.

Robert Wares, CEO, commented: ‘We are very pleased to resume drilling at Gaspé Copper and are very excited about the growth potential of the resource base. This program aims to confirm existing open-pit resources and potentially expand them based on a new geological model for distribution of primary copper mineralization at Gaspé Copper. This intensive drill program will lead to an updated mineral resource estimate, slated to be released in Q2 2026.’

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec‘s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt grading 0.34% CuEq and Inferred Mineral Resources of 670 Mt grading 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’ . Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt at 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt at 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals’ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

For further information on this press release, visit   www.osiskometals.com   or contact:

Robert Wares, Chief Executive Officer of Osisko Metals Incorporated

Email: info@osiskometals.com

Follow Osisko Metals on Facebook at https://www.facebook.com/osiskometals , on LinkedIn at https://www.linkedin.com/company/osiskometals , and on X at https://twitter.com/osiskometals .

Cautionary Statement on Forward-Looking Information

This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking information pertaining to the Gaspé Copper Projects, including, among other things, Gaspé Copper hosting the largest undeveloped copper resource in Eastern North America and Glencore becoming a Control Person of the Company.

Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

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    Stardust Power Inc. (NASDAQ: SDST) (‘Stardust Power’ or the ‘Company’), an American developer of battery-grade lithium products, today announced the execution of an exclusive licensing agreement with KMX Technologies, Inc. (‘KMX’), a leader in advanced lithium brine concentration technology. This agreement grants Stardust Power the exclusive rights to utilize KMX’s innovative vacuum membrane distillation (‘VMD’) technology for lithium extraction and concentration across the United States, Canada, and select international markets.

    The exclusive license grants Stardust Power the full rights to use and operate KMX VMD units within the designated territory and field of use for lithium. This agreement will support Stardust Power’s continued commitment to build out the North American lithium supply chain and onshoring of critical minerals in the rapidly growing North America lithium market.

    ‘This exclusive licensing agreement with KMX Technologies is a pivotal step forward in advancing Stardust Power’s sustainability and operational efficiency goals,’ said Roshan Pujari, CEO and Founder of Stardust Power. ‘KMX’s VMD technology offers a unique opportunity to reduce both energy consumption and water use across our supply chain, particularly by concentrating lithium feedstocks for efficient logistics. By incorporating this technology, we aim to significantly lower operating costs while strengthening the U.S. critical mineral supply chain and enhancing national security, all while doing so in an environmentally responsible manner.’ KMX’s technology is ideal for Stardust Power’s innovative hub and spoke refinery model. By reducing the volume of the brine feedstock, less volume needs to be transported. The large central refinery is designed to repulp feedstock and blend as needed.

    KMX’s VMD technology is capable of concentrating lithium from brine sources with minimal losses, thereby enhancing the economic viability of lithium projects. Additionally, the technology produces high-quality water as a byproduct, which can be used to minimize reliance on local freshwater resources in the lithium extraction process, a key factor in increasing water sustainability for the industry.

    Zachary Sadow, CEO of KMX Technologies, added, ‘We are excited to partner with Stardust Power, a visionary company dedicated to driving sustainability and innovation within the lithium sector. This agreement represents a shared commitment to improving the efficiency and environmental footprint of the lithium supply chain.’

    With the execution of this agreement, Stardust Power is positioned to deploy KMX’s VMD technology throughout Stardust Power’s network design and supply chain in order to optimize delivery of feedstocks to its lithium refinery under development in Muskogee, Oklahoma, with up to 50,000 metric tons per annum production capacity upon completion. The Company plans to integrate this advanced technology to further enhance the environmental and economic performance of its lithium production processes.

    About Stardust Power Inc.
    Stardust Power is a developer of battery-grade lithium products designed to bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The Company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol ‘SDST.’

    For more information, visit www.stardust-power.com

    About KMX Technologies, Inc.
    KMX Technologies is solving the most critical environmental and energy challenges of the 21 st century. Through its proprietary membrane distillation technology, the company sustainably sources critical minerals necessary for next generation supply chains and infrastructure, is advancing wastewater treatment, and is accelerating energy storage with its direct lithium recovery enhancement processes.

    Stardust Power Contacts

    For Investors:
    Johanna Gonzalez
    investor.relations@stardust-power.com

    For Media:
    Michael Thompson
    media@stardust-power.com

    Cautionary Note Regarding Forward-Looking Statements
    Certain statements in this press release constitute ‘forward-looking statements.’ Such forward-looking statements are often identified by words such as ‘believe,’ ‘may,’ ‘will,’ ‘estimate,’ ‘continue,’ ‘anticipate,’ ‘intend,’ ‘expect,’ ‘should,’ ‘would,’ ‘plan,’ ‘predict,’ ‘forecasted,’ ‘projected,’ ‘potential,’ ‘seem,’ ‘future,’ ‘outlook,’ and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the ability of Stardust Power to realize the anticipated benefits of KMX’s technology; the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; obtaining the necessary permits and governmental approvals to develop the site; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.

    Stockholders and prospective investors should carefully consider the foregoing factors, and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.

    Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.

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    Kalgoorlie Gold Mining (ASX: KAL) (‘KalGold’ or ‘the Company’) announces the discovery of newly identified, extensive gold mineralisation at Pinjin (to be named “Lighthorse”).HIGHLIGHTS

    • Thick, high-grade gold intercepts at Lighthorse include:
      • KGAC24152: 17 m at 4.81 g/t Au from 48 m, including 8 m at 9.21 g/t Au from 52 m (hole ends in mineralisation)
      • KGAC24153: 4 m at 4.72 g/t Au from 52 m (hole ends in mineralisation)
    • Lighthorse is a KalGold-generated, greenfields gold discovery, characterised by:
      • A 200 m wide primary gold target on the discovery section, open down dip.
      • A 600 m strike, parallel to the Laverton Tectonic Zone, open to the northwest and southeast.
      • Crosscutting mineralised structures extending over 800 m, open to the northeast.
    • o A footprint larger than either KalGold’s Kirgella Gift or Providence gold deposits
      • No outcrop, and no effective historic drilling.
    • Extensive, contiguous, widely-spaced intercepts suggest a large primary gold system obscured by transported cover. Further drilling is required to define the system’s full extent.
    • Lighthorse is located in the southeast of the Eastern Goldfields, an area which is becoming a focus for gold discovery and development. It is located:
      • 1 km west of KalGold’s Kirgella Gift and Providence gold deposits,
      • 12 km south of Hawthorn Resources’ (ASX:HAW) Anglo Saxon Gold Mine,
      • 22 km northwest of Ramelius Resources’ (ASX:RMS) Rebecca Gold Project
      • 30 km east of OzAurum Resources’ (ASX:OZM) high-grade gold discovery at Mulgabbie North
    • A priority follow-up RC drill program is being fast-tracked for March 2025, pending rig availability.

    For MD and CEO Matt Painter’s thoughts on the Lighthorse gold discovery, please see our video on the KalGold Investor Hub at https://investorhub.kalgoldmining.com.au/link/mepb1P

    Commenting on the discovery, KalGold Managing Director Matt Painter said:

    “This is what we’ve been chasing at Pinjin. Our systematic approach to exploration has paid off. Thick, high-grade gold mineralisation at Lighthorse is located just 1 km west of our Kirgella Gift deposit, beneath transported cover in an area of zero outcrop. This is a 100% KalGold generated discovery that reinforces the exceptional growth potential at Pinjin. The full extent of the emerging Lighthorse target is unconstrained at this stage, but we have already identified mineralisation over a 600 m northwest-southeast strike length, parallel to the local grain of the Laverton Tectonic Zone, and open along strike and at depth. Additional gold mineralised trends associated with cross-cutting structures are also evident, extending over 800 m and open to the northeast.

    Follow up RC drilling is scheduled for March 2025. We also expect to follow up previously reported thick, shallow gold intercepts at Wessex (ASX: KAL 09/10/24), next door to the Anglo Saxon Gold Mine (HAW), in this upcoming RC drill program.

    This is an incredibly exciting time at KalGold. Recently announced discoveries by some of our neighbours, together with this new Lighthorse discovery, are cementing this south-eastern part of the Eastern Goldfields as a hot spot for exploration, discovery, and development. KalGold holds an extensive and strategic footprint within this incredible, historically overlooked area.”

    High-grade gold intercepts define the Lighthorse discovery at Pinjin

    Drilling in December 2024 successfully expanded upon an extensive earlier aircore program at Kirgella West (Figure 1). The new drilling intersected thick, high-grade gold mineralisation beneath transported sediments (Table 1). Four of these five new holes returned significant gold intercepts, with two of the drill holes ending in mineralisation with the rig unable to penetrate the fresh, mineralised rock. Gold mineralisation is open along strike and down dip.

    Click here for the full ASX Release

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    Here’s a quick recap of the crypto landscape for Friday (February 7) as of 9:00 p.m. UTC.

    Bitcoin and Ethereum price update

    Bitcoin is trading at US$96,087, recording a 0.4 percent decrease over 24 hours as of the market’s close on Friday. The day’s trading range saw a high of US$100,097 and a low of US$95,746.

    Meanwhile, Ether is priced at US$2,595.45, marking a decline of 3.7 percent over 24 hours. The cryptocurrency reached an intraday high of US$2,794.36 and a low of US$2,590.32.

    Altcoin price update

    • SOL is currently valued at US$189.99, 1 percent lower over 24 hours, after hitting a daily high of US$202.86 and a low of US$189.95 as the markets closed for the weekend.
    • XRP rose to US$2.38 at the end of the trading day, marking a 2.2 percent increase. The cryptocurrency reached an intraday high of US$2.53 and a low of US$2.36.
    • SUI is trading at US$2.97, near its lowest valuation of the day and a 6 percent decline. It achieved a daily high of US$3.37 and a low of US$2.96.
    • Finally, ADA is down, priced at US$0.7041, reflecting a 0.6 percent decrease over 24 hours. Its highest price on Friday was US$0.7485 at the opening bell and its lowest was US$0.6994.

    Crypto news to know

    Acting Commodity Futures Trading Commission (CFTC) Chair Caroline Pham announced a forum where crypto CEOs from companies including Coinbase, Circle and Ripple can provide input on an upcoming digital asset pilot program.

    Earlier this week, Pham said the CFTC will be dividing its task force into two main groups and will be “ending regulation by enforcement,” turning its attention to fraud and consumer protections instead.

    Elsewhere, a US federal judge has decreed that Coinbase will be required to face allegations brought to it by the US Securities and Exchange Commission (SEC) in June 2023, rejecting the crypto exchange’s argument that it does not meet the criteria of a statutory seller. According to Reuters, US District Judge Paul Engelmayer said, “customers on Coinbase transact solely with Coinbase itself,” effectively concluding that Coinbase is a seller.

    The SEC has also requested more time to reach a final decision regarding an application by Nasdaq’s International Securities Exchange to list options contracts for BlackRock’s iShares Ethereum Trust (ETHA).

    The decision is now due in April of this year.

    Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

    Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

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