Jul 07, 2022 (Baystreet.ca via COMTEX) -- Investors may want to jump into gold on the pullback. “The gold market still has a path to push above $2,000 an ounce even as the Federal Reserve continues to aggressively raise interest rates throughout the year, according to commodity analysts at the French investment bank Societe Generale,” as noted by Kitco.com. “In the bank's latest commodity outlook, published Wednesday, the analysts raised their gold prices forecast and see the precious metal averaging around $2,100 by the third quarter of 2022. The analysts said that the most significant factor dominating the gold market remains real interest rates.” All could be solid catalysts for stocks, such as NevGold Corp. /zigman2/quotes/200712536/delayed CA:NAU -2.78% (otcqx:NAUFF), Barrick Gold Corporation /zigman2/quotes/201432642/composite GOLD +2.65% /zigman2/quotes/209252292/delayed CA:ABX +3.53% , Newmont Corporation /zigman2/quotes/205356474/composite NEM +0.65% /zigman2/quotes/211552405/delayed CA:NGT +1.49% , B2Gold Corp. /zigman2/quotes/205808306/delayed CA:BTO +4.96% /zigman2/quotes/207479241/composite BTG +4.21% , and GoldMining Inc. /zigman2/quotes/202408942/delayed CA:GOLD +4.46% /zigman2/quotes/206653474/composite GLDG +1.23% .
Look at NevGold Corp. /zigman2/quotes/200712536/delayed CA:NAU -2.78% (otcqx:NAUFF)
NevGold Corp. announce the development path forward at the advanced stage Nutmeg Mountain Gold Project which hosts a mineral resource of 910,000 Indicated ounces of gold (43.5 Mt @ 0.65 g/t Au), and 160,000 Inferred ounces of gold (9.1 Mt @ 0.56 g/t Au). The transaction with GoldMining Inc. closed on July 5, 2022 and NevGold has immediately commenced work on Nutmeg Mountain with a core relogging program and geological model update, which will be followed by a drill program.
- Nutmeg Mountain is a near-surface, heap-leach project located in southwest Idaho
- NI 43-101 report completed in 2020 by GoldMining includes a mineral resource of 910,000 Indicated ounces of gold (43.5 Mt @ 0.65 g/t Au), and 160,000 Inferred ounces of gold (9.1 Mt @ 0.56 g/t Au)
- Historical drilling, which on average only went to a depth of approximately 75 meters, includes:
- 51.8m @ 2.14 g/t Au starting at surface (0 meters to 51.8 meters)
- 60.0m @ 1.38 g/t Au starting at surface (0 meters to 60.0 meters)
- 54.7m @ 1.77 g/t Au (15.2 meters to 70.0 meters)
Including 24.1m @ 3.10 g/t Au (30.6 meters to 54.7 meters)
- 1,724 hectare project area (17.2 km  ) comprised of 2 private leases, 12 patented claims, and 210 unpatented Bureau of Land Management claims
Most of the resource is situated on patented claims
- NevGold has outlined a work program for the next 12 months inclusive of a 10,000 meter drill program, updating the resource estimate, and advancing to an engineering study on the Project by 2023
NevGold CEO, Brandon Bonifacio, comments: “We are excited to commence work on Nutmeg Mountain and progress into our first active field program at the project, while we also continue to drill our highly prospective Limousine Butte Project in Nevada. Nutmeg Mountain is an extremely promising project with a large resource base that has significant resource expansion potential and exploration upside. We see a similar value extraction roadmap at Nutmeg Mountain like we did when we acquired Limousine Butte last year, and we will apply the same technical rigour and discipline to project advancement over the next 12 months. We have identified a clear set of objectives and milestones, and the de-risking of Nutmeg Mountain will be a key part of our valuation re-rate as we also continue to advance and de-risk Limousine Butte. It is shaping up to be an exciting period for the company.”
NevGold VP Exploration, Derick Unger, comments: “We are very excited about the upside of Nutmeg Mountain for multiple reasons. Along with having a strong gold system with significant size and excellent continuity, the gold system is untested in multiple directions. Previous drilling averages only 75 meters depth and was focused on the mineralization that begins at surface. This leaves significant untested potential for high-grade veins at depth. Additionally, the near-surface mineralization also remains open along strike to the north and south as the majority of the historical drilling was completed on the patented claims that contains most of the 2020 resource. The on-strike extension areas are on either federal land managed by the Bureau of Land Management or leases of private land, both of which can be permitted for drilling very quickly and will form a key part of our resource expansion and exploration drill program.”