Gold Tests $1,700 On Discount Buying, Possible European Rate Cut

Puma Exploration (TSXV:PUM) announced that drill results from 11 holes at Henry East Lens on the Nicholas-Denys property confirm the presence of high-grade gold mineralization.

Queenston Mining (TSX:QMI) reported that the final payment of $30 million for the sale of a 50-percent interest in its Kirkland Lake joint venture properties to Kirkland Lake Gold (TSX:KGI,LSE:KGI), originally due on December 3, 2012, has been delayed. Causing the delay is the pending transfer of the AK North property, part of a mining lease that is being renewed by Queenston. The company is waiting on the final signature from the Lieutenant Governor of Ontario.

Manitou Gold (TSXV:MTU) released the results from six of its diamond drill holes for the Gaffney Extension drill program. The program has showcased the "presence of significant gold mineralization over substantial widths and indicates the presence of a large gold system."

Manitou has expanded its understanding of the gold mineralization as well as the exploration potential of the property, according to the company's press release.

Pilot Gold (TSX:PLG) reported results from new diamond drill holes from the 2012 drill program being undertaken at the TV Tower project in Turkey. Included in the high-grade results being showcased through the drill program is hole KCD-50 which returned 193 g/t gold over 12 meters.

The company's chief geologist commented, "[o]ur recent results reinforce that our drilling program is targeted and effective, and will help us further refine our drilling strategy to highlight high-potential targets going forward."

 

Securities Disclosure: I, Vivien Diniz, have no investment interest in any of the companies mentioned in this article. 

Gold Tests $1,700 on Discount Buying, Possible European Rate Cut from Gold Investing News

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