FinancialBuzz.com: Gold Prices React to Market Volatility

NEW YORK, January 26, 2017 /PRNewswire/ --

Gold futures dropped Wednesday as investors and traders have become occupied with U.S. equities after Dow Jones Industrial Average crossed the 20,000 mark or trading at a new record territory. Demand for the safe heaven metals declined in a meantime. Naeem Aslam, chief market analyst at ThinkMarkets, "Investors are excited about the 20K mark for the Dow... and this has faded some interest for the metal," MarketWatch reported. The decline in gold prices has come after posting gains in each of the past four weeks, which was the result of various statements coming from the new presidential administration regarding future economic policies. Golden Dawn Minerals Inc. (OTC: GDMRF) (TSX-V: GOM), Primero Mining Corporation (NYSE: PPP), International Tower Hill Mines Ltd (NYSE: THM), Tanzanian Royalty Exploration Corporation (NYSE: TRX), Timmins Gold Corporation (NYSE: TGD)

"The king dollar is weak today, but we are not seeing much of influence of this on the gold price… does involve himself in a currency war, we could see the dollar going much lower, which could push the gold price higher." Naeem Aslam added. Gold prices have also increased after the announcement that the United States will exit the Trans-Pacific Partnership and that the government is expecting to renegotiate the North American Free Trade Agreement. The new administration clearly has power to move markets, and the high market volatility is expected to continue due to uncertainties regarding upcoming proposed policies and their potential effects on the economy.

Golden Dawn Minerals Inc. (OTC: GDMRF) (TSX-V: GOM.V) earlier today announced the, "completion of a National Instrument 43-101 Report on the Greenwood Area Property compiled from the extensive library of exploration data assembled by Kettle River on the Greenwood Mining District, plus site visits to the properties. The mineral claims total 11,000 ha., covering 78 mineral showings including 29 historic metal mines.

Golden Dawn is acquiring this property through the acquisition of Kettle River Resources Ltd., a wholly owned subsidiary of New Nadina Explorations Limited. Golden Dawn and New Nadina Explorations Limited signed a Letter of Intent regarding this transaction which includes the mineral property assets (See news release Oct. 18, 2016).

The Greenwood Area Property lies in southern B.C. near Provincial Highway 3 between Rock Creek to the west and Grand Forks to the east. It lies in the Boundary Falls area, of the Greenwood Mining Division, to the South, East and West of the City of Greenwood. The Property is comprised of 57 Crown Granted claims with sub-surface mineral rights covering 814.3 hectares, 24 Crown Granted claims with surface and sub-surface rights covering 277.4 hectares, and 51 mineral tenure claims with subsurface rights covering 10,263 hectares. The area covered by the various claim types exceeds 11,000 hectares.

This land package has an abundance of mineral prospects, encompassing 29 historical past producing mines and 49 documented mineral showings. Included is the historic Phoenix mine which produced nearly 1 million ounces of gold and 235,700 tonnes of copper from a total of 21 million tonnes mined from 1900-1919 and 1956-1978. Mine production records from 1959 through 1967 show that 4.19 million tonnes of tailings at an average grade of 0.15% Cu, 0.38 g/t Au and 3.8 g/t Ag, were discharged to the Tremblay site, as reported in a previous technical report prepared for Kettle River, effective date July 9, 2012 and titled "National Instrument 43-101 Technical Report on the Phoenix Tailings Property, Boundary District".Concurrently the company will explore the areas evidencing indications of intrusive porphyry deposits which may be sources for the numerous historic Mines and mineral showings.

The Kettle River acquisition also includes an extensive catalogued library of records from over 100 years of exploration and development. The data, much of it proprietary, is invaluable for assessing the mineral showings in light of new structural and metallogenic models. All showings and historic mines are within a 15 km radius from the company's Greenwood mill. These historic copper-gold deposits are clustered in two areas: Phoenix and Summit camps. This localized grouping of occurrences suggests the two areas may overlie porphyry-copper gold source intrusions, and were generated by metal-rich hydrothermal fluids that ascended from the intrusions.

The majority of mineralization in the Greenwood Camp can be classified as copper-gold skarns or skarn -- related. Early pre-1919 exploration in the Greenwood camp focussed on such massive sulphide/oxide ores that were self-fluxing and could be shipped directly to smelters. Lower grade footwall stringer mineralization was largely ignored, as the mines wished only to ship high grade ore. As such there is excellent potential to discover large tonnage deposits of low to moderate grade copper-gold skarn material peripheral to the historic mines. In addition, since most of the historic mines were focussed on copper, iron-rich skarn zones of mineralization were largely ignored. It will be important to re-evaluate all of the skarn deposits for gold.

Technical disclosure in this news release has been approved by Dr. Mathew Ball, P.Geo., a Qualified Person as defined by National Instrument 43-101, and Chief Operating Officer of the Company."

Primero Mining Corporation (NYSE: PPP) is a Canadian-based gold mining company with operating mines in Canada and Mexico, and a strong portfolio of development-stage and exploration projects. The company has revised its next quarter cost guidance and production. Primero Mining's revised guidance include: Production of 45,794 gold equivalent ounces during the fourth quarter of 2016 (23,162 ounces of gold and 1.4 million ounces of silver from San Dimas, and 17,512 ounces of gold from Black Fox), resulting in annual production for the Company of 176,139 gold equivalent ounces in 2016 (93,881 ounces of gold and 5.3 million ounces of silver from San Dimas, and 62,171 ounces of gold from Black Fox) within the Company's revised production guidance range.

Mineral exploration company, International Tower Hill Mines Ltd (NYSE: THM) is in the business of acquiring, exploring and evaluating mineral properties, and either joint venturing or developing these properties further or disposing of them when the evaluation is completed. It operates through the exploration and development of mineral properties segment. The Company owns the Livengood Gold Project in Alaska, the United States. The Livengood Gold Project is located approximately 70 miles northwest of Fairbanks, Alaska in the Tolovana mining district within the Tintina Gold Belt. The Livengood Gold Project has a mineral resource of approximately 730 million measured tons at an average grade of over 0.61 gram/ton (g/ton), approximately 70 million indicated tons at an average grade of approximately 0.56 g/ton and over 260 million inferred tons at an average grade of approximately 0.52 g/ton.

Tanzanian Royalty Exploration Corporation (NYSE: TRX) engages in the exploration and development of mineral property interests in the United Republic of Tanzania. It holds interest in the Buckreef project located in the Geita District of the Geita Region south of Lake Victoria; Itetemia gold deposit located to the southwest of Mwanza; and the Kigosi project located within the Kigosi-Miyabi and Ushirombo greenstone belts in northwestern Tanzania. The company also holds interest in various exploration stage projects, including the Luhala project and the Lunguya property.

Timmins Gold Corporation (NYSE: TGD) is a Canada-based gold producer engaged in the operation, development, exploration and acquisition of resource properties in Mexico through its subsidiaries, Timmins Goldcorp Mexico, S.A. de C.V. and Molimentales del Noroeste, S.A. de C.V. (MdN). MdN owns the San Francisco Mine in Sonora, Mexico. MdN also owns the Caballo Blanco Property, an exploration and evaluation asset in Veracruz, Mexico. The Mine and the La Chicharra pit are collectively known as the Gold Property. The Company also holds the Ana Paula gold project, which is an advanced stage development project in the Guerrero Gold Belt. The Guerrero Gold Belt project consists of over two claims totaling approximately 4,200 hectares at the north-west end of the Guerrero Gold Belt, with approximately 38,000 additional hectares in the surrounding area.

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