GTCH:CC - Gold booms as the USD stumbles to 5-month low - here's how to leverage the rally into your portfolio
2024-01-04 09:51:58 ET
%Gold recently hit a two-week peak, climbing to $2,059.89 per ounce and putting it on track for a 2% weekly gain. This rise comes as the U.S. dollar sinks to a five-month low against other currencies. In tandem, Treasury yields also continue their descent towards five-month lows.
As independent trader Tai Wong stated in a recent Reuters report , "Precious metals, including gold, are being driven higher by very aggressive rate cut expectations." Markets strongly anticipate the Federal Reserve will start slashing interest rates in early 2024, with predictions of up to 150 basis points in cuts over the next two years.
Wong goes on to say that while gold is “priced for perfection," markets often get ahead of themselves. Yet many experts remain steadfast in their optimism.
Phillip Streible, chief market strategist at Blue Line Futures, believes that gold will continue to be helped by weaker Treasury yields and the U.S. dollar index. He also cites concerns around economic slowdown that could further propel prices.
The described macroeconomic landscape has the elements that attract investors’ attention towards precious metals – which are well known as safe haven assets with foundational value, making them staple evergreen long-term investments.
The rally is set to benefit publicly traded companies in the sector. Exploration enterprises such as %GetchellGold (OTC: GGLDF) (CSE: GTCH) provide an excellent option to tap into the booming gold market. The company comes with the added advantage of boasting potentially major value yet to be unlocked, while remaining seemingly overlooked by most investors for the time being.
Getchell Gold Corp – At the Heart of US Gold Production
Getchell Gold Corp (OTC: ) (CSE: ) (FRA: GG1), a Nevada-focused gold exploration company, has stood out through consistent successes and discoveries at its %FondawayCanyon flagship project – though these wins are yet to be reflected in its modest valuation.
Fondaway Canyon has shown immense untapped upside. Earlier this year, GTCH doubled the project’s gold forecasts to over 2 million ounces between Indicated and Inferred resources. Furthermore, mineralization continues beyond current exploration zones, signaling that the deposit's full scope is yet to be defined.
GTCH has the option to acquire 100% of the multi-million-ounce gold deposit, well-situated in Nevada, the number one jurisdiction in the world for mining and exploration. As President Mike Sieb stated, " The quantity of gold, the grade, the exposure of the mineralization at surface, the robustness of the Mineral Resource Estimate, and the location in a highly favorable global gold mining epicenter, places the Fondaway Canyon project in a select and coveted group."
Over three highly successful drill campaigns at Fondaway Canyon, GTCH has made two major discoveries, intersected over 200 meters of gold mineralization, hit exceptionally high-grade zones, and doubled the historic mineral resources.
Complementing an already compelling story, strong gold mineralization in the most peripheral drill holes leave resources open for further expansion, indicating a substantially larger deposit than currently outlined. As Sieb added, "Having released exceptional drill results over the last three years, it is important to appraise Fondaway Canyon's full potential. What becomes obvious is the strong mineralization in the most peripheral holes, signifying an intense system yet to be tested. This causes us to seriously wonder: how big can it be?"
Most recently, the company secured control of the entire gold mineralization corridor – a 7km trend which has hosted small- scale mining operations in the past, along with numerous underexplored gold occurrences. Comprehensive metallurgical testing by previous operators point to possibly reaching gold recovery rates of over 90%.
With drill permits in hand, Getchell is set to continue expanding the deposit and establishing Fondaway Canyon as the region's most notable asset – and is already well on its way to materializing the objective .
Despite GTCH’s seemingly undervalued market cap of $11 million, the company remains steadfast in its mission of developing the prized Fondaway Canyon property and maximizing returns for investors. Getchell Gold Corp.’s latest strategic moves merit consideration from investors seeking hidden gems with likely major potential to be unlocked in the coming year.
About Getchell Gold Corporation
Getchell Gold (CSE: GTCH | OTCQB: GGLDF | FRA:GGA1) is a publicly listed gold exploration and development company delineating a potentially Tier-1 gold resource at its flagship Fondaway Canyon project in Nevada, USA. Following consecutive successful drilling programs from 2020 to 2023, the Company has effectively doubled the size of the historic resource, placing the Fondaway Canyon project firmly into the multi-million-ounce resource category. Getchell Gold is perfectly positioned to continue expanding its resource with plans to rapidly advance towards a Preliminary Economic Assessment.
Getchell’s highly experienced management team is systematically advancing the Company’s flagship Fondaway Canyon gold project, a major asset located in the nation’s premier global mining jurisdiction of Nevada. Led by CEO William Wagener , possessing over 45 years of global mining expertise, and President/Director Mike Sieb , a senior executive with over 30 years’ experience, Getchell’s leadership offers a proven track record in the resource sector. This veteran mining team remains focused on continuing to unlock value at their NV deposit.
Recently the Company completed additional staking and now controls the entire gold mineralization corridor along a 7km trend, host to historic small scale mining operations and numerous underexplored gold occurrences.
Past operators have completed a series of comprehensive, for its time, metallurgical tests demonstrating potential recoveries >90%.
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