EDITOR: | April 24th, 2017

GTA Resources New CEO Takes Northshore Gold Forward

| April 24, 2017 | No Comments

A strong start to 2017 has carried gold prices northward by almost 10% YTD, and recent positive technical results have encouraged GTA Resources and Mining Inc. (TSXV: GTA) (“GTA”) to push for commercialisation of their Northshore project, a historically impressive gold region in Ontario, Canada. Given that this time last year GTA completed around twelve months’ of work in under eight weeks, we should expect rapid movement on the Northshore gold property.

According to some analysts, a couple of factors could help gold to build enough momentum to push past the $1,300 an ounce stress-point in the near-future. The escalating Syrian conflict is providing incentive for investors to seek safer bets in safer-places, and the continuing war will only influence this further. Additionally, a bearish US dollar provides cheaper international gold purchases, pushing demand for the yellow metal even further.

Furthermore, while normally, dollar-recovery would negatively affect gold prices, a safe-haven motivated influx of capital into the states, a result of global market uncertainties, has made it likely that the two could experience a strong side-by-side rally. GTA clearly sees 2017 as a perfect time to step-up to production while the world’s eyes have a shiny yellow glint.

The Northshore site produced spectacular gold assays back in 2012 that includes intersections featuring 12.49 g/t over 33.2 m and 4.35 g/t over 14.6 m, centred on an area of heavier quartz veining and associated mineralization in a high-density gold-zone known as The Afric Zone; the zone has been defined over an area of 500 m by 200 m, to a depth of 300 m, and consists of variable gold mineralization throughout. The widespread nature of the gold has been shown in more recent drill results, and metallurgical work has favourably proven that up to 99.6% of the 391,000 oz indicated, and 824,000 oz inferred Au resources can be recovered using a standard cyanidation procedure, making for an economically attractive production proposition.

The management team at GTA resources offer over a century of experience between them in resource extraction, finance and law, to name but a few of their expertise. The company recently appointed new CEO, James Macintosh, who came from the role of lead director and chairman of the audit committee for Carlisle Goldfields Limited, a Canadian gold company sold to Alamos Gold in a multi-million deal last year.

Management is sitting on two other assets while they push forward with Northshore. The Canadian portfolio features the Burnt Pond project, a high-concentration Zinc resource, and Auden, a 20,000 hectare stretch with 60km of strike and a 1978 discovery of gold showings by Shell Oil. Right now, the team is working towards achieving a 50,000 tonne bulk sample from Northshore that will provide the proof of the project’s promises, but two targets have been identified as near-surface and easy to extract with open-pit mining. Furthermore, the Canadian permitting process is about as smooth and civilised as you can get, meaning that a mine-at-surface is likely to slip through with little fuss.

As the world continues to spin into 2017, further regional destabilisation will force people to look for the most secure places to hide their money. Nobody stuffs cash into a burning mattress, and the polite, prosperous, and not forgetting cold Canadian expanses provide a great lockbox into which to throw your smoking pennies.


InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>

Copyright © 2021 InvestorIntel Corp. All rights reserved. More & Disclaimer »

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.