Gold Up $113 to $4,353 Per Oz: Research WG and XGC Immediately
Gold is up by $113 this morning to $4,353 per oz.
From what we see with Westward Gold (CSE: WG) so far at the SSD Zone, the similarities to Barrick's directly adjacent Fourmile deposit are stunning, and we want to make it very clear… if WG's SSD Zone contains a Fourmile-like high-grade gold discovery at depth, we are talking about WG potentially becoming the #1 highest market cap company listed on either the CSE or TSX Venture, and we don't want to set expectations that are too high. The truth is, Fourmile is still growing, and nobody knows how large it will be by the time North American Barrick has its record-breaking IPO near year-end. WG already has a historical near-surface resource, but they believe it represents leakage from a much larger, Fourmile-like high-grade gold system at depth.
Prior to Xali Gold (TSXV: XGC) acquiring Pico Machay from Pan American Silver (PAAS), a positive production decision was made by its previous owner, Aquiline Resources, in 2009 at a gold price of only $700 per oz, leading to Aquiline Resources being acquired by PAAS in 2010 for $626 million. It has 710,000+ oz of total historical gold resources to soon be confirmed with only 2,000m of drilling to make them NI 43-101 compliant, with plans for a 20,000m drill program to test the surrounding nine undrilled resource expansion targets. The historical gold resource area of 800m by 350m represents only 5% of the broader system, measuring approximately 4.1km by 1.3km. Pico Machay has strong support from the local community, with agreements already in place and near-term development/production potential as a low-cost heap-leach operation.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA has received compensation from WG of US$60,000 cash for a six-month marketing contract. NIA is receiving compensation from XGC of US$75,000 cash for a six-month marketing contract. This message is meant for informational and educational purposes only and does not provide investment advice.