- Write by:
-
Thursday, July 18, 2019 - 11:42:46 AM
-
947 Visit
-
Print
Mining News Pro - Reunion Gold’s (TSX-V: RGD) shares jumped Wednesday after the Canadian miner reported a new high-grade gold discovery at the Saint-Michel prospect, part of the Boulanger project in north-central French Guiana.
According to Mining News Pro - Reunion Gold’s projects are in the Guiana Shield, the northern segment of the Amazonian Craton of South America.
In February, Barrick Gold (TSX:ABX)(NYSE:GOLD), the world’s top bullion producer by volume, entered into a 50-50 strategic alliance with Reunion to jointly explore for and develop projects in the highly prospective and under-explored Guiana Shield gold district.
Sampling over an area of 260 meters by 95 meters at the Saint-Michel prospect returned an average grade of 17.3 g/t gold, Reunion said in a media release.
Systematic sampling of the Saint-Michel mineralized stockpiles extracted from past artisanal workings returned an average of 17.3 g/t gold from 42 samples with the highest assay at 45.9 g/t gold, the miner said.
“Our preliminary sampling of the Saint-Michel prospect shows some of the best gold grade our team has ever encountered in the Guiana Shield, and we look forward to systematically exploring this area as we move the Boulanger Project forward,” Réjean Gourde, Reunion Gold’s CEO said.
At market close Wednesday, Reunion’s shares were up 12%, with the day’s trading volume over three times the average. The company has a C$116 market capitalization.
Short Link:
https://www.miningnews.ir/En/News/398983
![China’s central bank paused gold purchases in May after 18 months of buying](/Incsys/Photo.aspx?image=/Uploads/News/20240615005941412.jpg&width=236&height=180)
China’s central bank paused gold purchases to its reserves in May, when spot gold prices hit a record high, after 18 ...
![Gold price falls most in two years on jobs data, China buying pause](/Incsys/Photo.aspx?image=/Uploads/News/20240615003613938.jpeg&width=236&height=180)
Gold fell the most in more than two years as surprise strength in a key US jobs report dashed hopes that the Federal ...
![Global gold ETFs saw first inflows in a year in May, says WGC](/Incsys/Photo.aspx?image=/Uploads/News/20240615001925985.jpg&width=236&height=180)
Global physically backed gold exchange traded funds (ETFs) attracted their first inflows in May after a year, powered by ...
![Opening of new mines boosts Ivory Coast 2023 gold output](/Incsys/Photo.aspx?image=/Uploads/News/20240615001311063.jpg&width=236&height=180)
Ivory Coast’s gold output hit a record high in 2023, helped by the opening of new mines, and will continue to grow ...
![Glencore said to weigh selling stake in Kazakh miner Kazzinc](/Incsys/Photo.aspx?image=/Uploads/News/20240611205715107.jpg&width=236&height=180)
Glencore Plc is considering selling its stake in Kazakh mining company Kazzinc amid interest from potential buyers in ...
![Mali gold mining revenue fell by 26% in 2023](/Incsys/Photo.aspx?image=/Uploads/News/20240611204851913.jpg&width=236&height=180)
State revenue from gold mining companies in Mali fell 26% last year, hit by lower taxes, a document from the west ...
![Gold purchases by central banks were strong in April despite high prices](/Incsys/Photo.aspx?image=/Uploads/News/20240610020735558.jpg&width=236&height=180)
Net purchases of gold by global central banks rose to 33 metric tons in April from a revised net buying of 3 tons in ...
![Probe Gold to raise $11 million for Quebec exploration](/Incsys/Photo.aspx?image=/Uploads/News/20240606201728757.jpg&width=236&height=180)
Probe Gold is looking to raise more than C$15 million ($11 million) via a private placement led by Beacon Securities and ...
![Funds are most bullish on gold in four years as prices hit record](/Incsys/Photo.aspx?image=/Uploads/News/20240528184631198.jpeg&width=236&height=180)
Money managers became the most bullish on gold in more than four years as prices surged to a fresh record earlier this ...
No comments have been posted yet ...