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Gold Summary for May 22, 2020

2020-05-22 18:40 ET - Market Summary

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by Stockwatch Business Reporter

New York spot gold rose $5.20 to $1,732.70 on Friday. The TSX-V added 5.11 points to 536.94 while the TSX gold index inched 0.83 points higher to 351.71. Most Canadian gold miners inched upward today, with Teranga Gold Corp. (TGZ) adding 41 cents to $11.42 on 681,000 shares. Kinross Gold Corp. (K) went the other way, dropping 12 cents to $9.84 on 8.44 million shares.

William Wagener's Getchell Gold Corp. (GTCH), up one-half cent to 30.5 cents on 122,000 shares, has staked additional claims to better cover the mineralized system at its Fondaway Canyon gold project in Nevada. The additional 248 hectares lie west and north of the existing property in an area that Mr. Wagener, chief executive officer, believes could host a possible extension of the mineralization encountered east of the new claims. If not, he says the new ground will "provide land for operational flexibility."

The flexible Mr. Wagener also rolled out assays to generate enthusiasm for his gold project, but they are old results obtained years ago by previous explorers. Getchell Gold reminds investors that the Pediment zone produced 0.82 gram per tonne over 27.4 metres and 0.52 gram per tonne over 36.6 metres in two holes drilled in 2002. Those two holes were drilled 185 metres apart.

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