Hovering Above $1,800 Per Ounce, Why Gold Remains Attractive in 2022 - Financial News Media

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Key Highlights

• Defining a Near-Surface, High-Grade, Oxide Gold Resource: the drill program is focused on building a near-surface oxide gold resource while expanding the mineralization laterally along strike and at depth. The results received to date, including 2.19 g/t oxide Au over 61.6 meters including 8.51 g/t oxide Au over 11.6 meters, and 1.30 g/t oxide Au over 44.4 meters including 3.11 g/t oxide Au over 11.1 meters , have confirmed the near-surface, high-grade oxide gold mineralization at Limousine Butte.
• Highly Oxidized Mineralization: assay results from Holes 1-4 report near-surface oxidized mineralization throughout all of the drill holes completed.
• Open Mineralization: mineralization is open along strike and at depth with numerous untested targets that will be drilled in current and future drill programs.
• Improved Geological Model: utilizing a core rig has improved confidence in the geological model as the Company advances towards an updated mineral resource estimate for the Project.
• Second Drill Rig Added: as per the News Release on January 19, 2022, the Company currently has two drill rigs on site, one core rig and one Reverse Circulation rig (“RC”). The RC rig was recently added to expedite the drill program and drill both the Resurrection Ridge and Cadillac Valley targets simultaneously.

NevGold CEO, Brandon Bonifacio, comments:“The initial assays from our inaugural drill program at Limousine Butte highlight the near-surface oxide gold nature of mineralization at the project. It is very exciting to see thick intercepts of multi-gram oxide gold material, which is a key indicator of a strongly mineralized system. We are advancing to a near-surface oxide gold resource, which remains open in all directions. The remaining drilling will continue to test the various deposits within our large, 66.5 square kilometer land package with the goal of driving towards a multi-million ounce oxide gold resource base. We eagerly await results from further drilling and thank our Nevada Team for their hard work delivering on the drill program in a safe, expedited fashion.”

NevGold Chief Geologist, Derick Unger, comments:“We are very encouraged by this initial data from our drill program at Limousine Butte and expect similar results from the remaining holes over the coming months. Exploration is very active in Nevada, and we are fortunate to have received these results in such a timely manner. The information provided by these core holes has greatly improved the geological model at Limousine Butte. We see many areas with strong mineralization potential that have not been given a proper look using modern exploration methods and applying the latest geologic knowledge. The current program will test the boundaries of mineralization, initially focusing on the Resurrection Ridge and Cadillac Valley targets, which will drive advancement towards a near-surface oxide gold mineral resource estimate.” CONTINUED… READ THIS FULL RELEASE AT

Additional recent developments in the beverage market industry include:

Starr Peak Mining Ltd. (OTCQX: STRPF) (TSXV: STE) has recently made arrangements to bring a third drill rig to its NewMétal property (“NewMétal” or“the Property”), with an estimated start date of February 10th. The rig will focus on high priority VTEM anomalies located on a projected extension of the Perron Eastern Gold Zone trend onto the NewMétal property near the town of Normétal, Québec. Amex Exploration (January 11, 2022 news release) has identified the E3 Gold Zone which is consistent with a North-East trend and located approximately 1.5 kilometres West of the property boundary.

The ongoing drilling program continues to target both the Normetmar Deep Zone below 600m vertical depth and the 4 km long prolific Normetmar-Normétal lithological contact within the property, taking into account the many new massive sulphide intercepts in 2021. The Normetmar Deep Zone is located directly below the Normetmar high-grade zinc deposit and approximately one kilometre west of the historic Normétal Mine which produced ~10.1M tonnes of 2.15% Cu, 5.12% Zn, 0.549 g/t Au, and 45.25 g/t Ag (Boivin, 1988).

Artemis Gold Inc. (TSXV: ARTG) recently announced that its memorandum of understanding (“ MOU “) with Ausenco Engineering Canada Inc. (“ Ausenco “) has been terminated due to the expiry of an agreed period to enter into an Engineering, Procurement and Construction (“ EPC “) contract to construct a processing facility and associated infrastructure (the“ Facilities “) for the Company's Blackwater Gold Project (“ Blackwater ” or the“ Project “) in Central British Columbia.

The MOU was executed in March 2021 as part of a multi-party competitive bid process and was awarded to Ausenco at that time. Negotiations are expected to continue with various parties to finalize an EPC contract for the construction of the Facilities. The Company also expects to enter into agreements in the next several weeks with suppliers of long-lead equipment to support timelines for construction.

McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) recently provided summary results from the Fox Complex Preliminary Economic Assessment (“ Fox PEA ” or“ PEA “), which outlines a mine life of over twelve (12) years, generating average annual production of 71,980 gold ounces, at average cash costs and all-in sustaining costs (“ AISC “) per ounce under $800 and $1,225, respectively. Peak annual gold production of approximately 100,000 ounces occurs in Years 6 to 10 of the mine life.

“The Fox PEA is an important step forward for us. It translates our exploration success into a business case that increases mine life and production rates and lowers costs per ounce! It also provides a clearer picture of where future exploration should be focused to add value.

Our commitment and investment in exploration has provided the foundation for this study, and ongoing exploration success continues to further enhance the expansion potential at Fox. While the PEA is an encouraging first iteration, continuing exploration success, improved economics, and a shorter payback period is required before we decide to advance the project.

Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB) recently provided an update in respect of the Company's 2022 discovery and resource expansion drilling programs at Limon, Libertad, Pavon and Eastern Borosi in Nicaragua, highlighting results from 2021 and outlining key 2022 targets and objectives.

Darren Hall, President & Chief Executive Officer of Calibre, stated: “During 2021 our primary exploration efforts focused on increasing confidence in known resource areas at Limon, Libertad, Pavon and EBP which I expect will positively impact reserves after 2021 depletion and further increase confidence in future production. Additionally the team advanced new prospective concessions along the western epithermal belt, discovered new zones, progressed our geological understanding and target delineation work which form the basis of our 2022 drilling programs.

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