Gold Rally Faces Technical Test, But This Junior Miner Defies Pullback With 25% Surge

2025-10-02 11:15:00 ET

Gold prices continue their relentless climb, with the metal now trading near $3,900 USD per ounce. While strong fundamentals suggest further upside potential over the medium to long term, a recent technical development warrants attention. Last week, gold reached roughly $3,900 on two occasions before pulling back, forming what appears to be a double-top pattern—a possible indication of a short-term peak in this remarkable rally. Whether this proves to be a true technical signal or merely short-term noise in an otherwise powerful uptrend remains to be seen.

One stock that appears impervious to a potential near-term top in gold was Stellar AfricaGold Inc. (TSX-Venture: SPX) . The company announced this morning strong assay results from the first drill hole of its 1,500-meter summer diamond drill program at the Tichka Est Gold Project in Morocco. The initial hole (TCK-001) returned 13 meters grading 6.12 g/t Au, including 2 meters at 22.28 g/t Au, along with 16 meters at 1.98 g/t Au, featuring 1 meter at 11.55 g/t Au. Mineralization is primarily hosted within sub-horizontal diorite sills, confirming the presence of favorable geology. So far, 492.8 meters of core have been drilled across three holes in Zone B, with one drill rig advancing at roughly 10.5 meters per day.

“Drill hole TCK-001 at Tichka Est has confirmed the presence of a very promising gold system,” said J. François Lalonde, President and CEO of Stellar AfricaGold. “With mineralization now confirmed at depth, we are becoming increasing confident in the potential of the Tichka Est Gold Project and are excited to expand both our current drilling program to test continuity of mineralization and additional new targets as we advance the Zone B gold discovery. Additionally, our surface reconnaissance exploration of the numerous other areas of interest within the 82km 2 permit area of Tichka Est will continue.”

Shares of SPX are currently up 25% at $0.25 in mid-morning trading.

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