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Can’t-miss headlines: Gold climbs, 4kg silver over 6 metres & more

The latest morning headlines, top junior developments and metal price movements. Today the gold price was back on the move, up, and Maya Gold & Silver reports an impressive intercept from Zgounder in Morocco.


The spot price of gold inched up to around $1,230 an ounce from near $1,225 mark a day ago. Silver spot was $19.75 an ounce. Meantime, the spot price of copper dipped below $3.30 a pound, hitting $3.28 yesterday. It was a smidgen shy of $3.30 pound at presstime, having regained a little bit of ground this morning.


The question of Coeur’s 2013 silver guidance is in focus with Dundee research. The Peruvian government outlines mining investments of $70 billion. Nevsun reports a smooth transition to copper production at Bisha in Eritrea. And there is trouble for ERA uranium production after a leach tank rupture.


For a couple cashed-up junior explorers, there was some deal making: Radius Gold – which reported about C$12 million in cash/short term investments back in September – struck an option to earn 51-percent interest on a Medgold Portugese asset, which one is a decision yet to be made. On its website Medgold lists two projects with fairly extensive gold anomalies. At Boticas there have been some fairly broad gold intercepts in drilling with best hits in the 10- to 20-metre range grading between 2 to 3 g/t gold within 150 metres of surface in a 600 metre long gold anomaly. And at Villa de Rei, a separate project, Medgold reports numerous high grade gold samples at surface in a handful of gold anomalies.

Meantime, Midlands Minerals took a 75 percent option on Reservoir Minerals‘ Parlozi project in Serbia. In a 2011 NI 43-101 report Reservoir noted a historic resource at Parlozi of 6.5 million tonnes at 130 g/t silver, 4.07 percent lead, 2.12 percent zinc and 0.26 percent copper. (NI 43-101 report here.) Midlands said in late August it got C$3.4 million through a sale of its African assets.

In drilling, Maya Gold & Silver outlined intercepts from its Zgounder Silver project in Morocco. As part of confirmation drilling of the Zgounder deposit, it hit as much as 4,074 g/t silver over 6 metres within a wider 19 metrer intercept @ 1,494 g/t Ag. Maya has said it is working on a resource estimate of Zgounder, a historic silver mine.

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