In searching my YouTube archives, I ran into this 5 minute, October 2009 interview I did with Eric Bolling on the Fox Business channel. Gold was breaking out in a major way, establishing itself forever above $1,000 per ounce. For that matter it is very possible we will never again see gold below $4,000. You can view my interview HERE in which I predicted the next market crisis at some undefined future date. There is growing evidence that that unfortunate future date is now rapidly approaching.
In October 2009, the U.S. federal debt was $11.8 trillion and rising fast because the Fed was not solving America’s financial crisis but only papering over it with massive amounts of additional money created out of thin air. I warned then that rather than addressing the root cause of the 2008 financial crisis the Fed was kicking the can down the road and thus setting the table was for an even more cataclysmic financial/economic crisis in the future.
I believe that future may now very well be approaching. The Fed announced today a doubling its long dated U.S. Treasury purchasing program because there are not enough buyers of Treasuries at current interest rates. With U.S. Federal debt over $40 trillion and increasing by at least $2 trillion per year, interest expense is rapidly crowding out the government’s ability to carry out required services which is why Treasury Secretary Bessent and the U.S. government have bribed Japan not to sell our Treasuries by lending them money.
The fact that the Fed is accelerating money printing once again coupled with the gold markets response by bidding gold up by $188 or 4.35% just today suggests that we may be at the start of increasing market disorder. Cash gold was quoted at ~ 5:30 PM in New York at $4,521.90. The Fed is now clearly exercising yield control (interest rate suppression) and the smart money is now responding by selling dollars and buying gold, understanding that the dollar is heading for the dustbin of history where all fiat currencies in history go to die. In other words, gold is replacing U.S. Treasuries as the most liquid form of money in the world.
Again, the chart below demonstrates the urgency with which the Fed is printing massive amounts of money. It suggests that the next explosive move higher in gold and silver is likely upon us and that major market disorder may be rapidly approaching! This should be exceedingly bullish for gold and silver mining shares but not so good for those who have ignored the message that I and other Austrian economic advocates have been declaring ever since President Nixon enabled reckless monetary and fiscal policy by severing gold from the dollar in 1971.
Altamira Gold Corp. announced that it has secured surface access to the western extension of the Cajueiro exploration licenses, including the high-priority Novo Sonho target. The access commences immediately west of the Maria Bonita porphyry gold deposit and extends over an area of 58km2, of which only 5km2 has been systematically sampled to date. Management believes this represents a significant strategic milestone, enabling the systematic exploration of some of the most geologically compelling untested targets in Altamira’s district-scale portfolio.
Highlights:
Novo Sonho is located approximately 3km west-southwest of Maria Bonita, Brazil’s first confirmed porphyry gold deposit, which hosts a maiden Indicated Resources of 24.2Mt @ 0.46g/t gold (357,800oz) and Inferred Resources of 25.6Mt @ 0.44g/t gold (362,400oz)2.
Novo Sonho is defined by a significant gold-in-soil anomaly associated with an alluvial dispersion train, within a 15km east-west structural corridor hosting multiple intrusive-related gold prospects across the Cajueiro district.
Artisanal gold workings in nearby south-draining streams confirm an E-W gold-bearing corridor of at least 5km centered on the Maria Bonita porphyry, further supporting the prospectivity of the recently accessible area.
Drilling is planned in both the western extension of the Maria Bonita resource and at the Novo Sonho target.
President & CEO Mike Bennett commented; “Securing surface access to both Novo Sonho and the western part of the Maria Bonita porphyry gold deposit represents an important step in our strategy to continue growing the mineral inventory of the Cajueiro district and identifying additional porphyry gold centres along a 15-kilometre corridor. This newly accessible area is particularly exciting because the Maria Bonita resource appears to extend westward onto this ground, opening up significant exploration potential beyond the limits of the current resource. Novo Sonho is also one of the most geologically attractive targets in our portfolio. With access now secured, we can move quickly to drill test these targets and systematically explore the remainder of our license areas.”
EDITOR’S COMMENT:
There are several pictorial illustrations and technical jargon that add to the understanding of the this news announcement. If interested in this story, the reader is encouraged to read the entire news release HERE.
Intrepid Metals Corp. has selected Major Drilling Group International Inc. as the drilling contractor for the company’s planned 10,000-metre (m) drill program at its district-scale Corral copper project in Cochise county, Arizona. Equity Exploration Consultants Ltd. has also been engaged to provide geological and operational support for the program, which is scheduled to commence in early September, 2026.
The planned program is expected to include approximately 20 drill holes, with approximately 5,000 metres dedicated to expanding and further evaluating the near-surface carbonate replacement deposit (CRD) style copper-gold-silver mineralization previously identified across the project. The remaining approximately 5,000 metres will represent the first drilling at Corral specifically designed to test high-priority porphyry copper-gold targets and evaluate the potential source of the extensive CRD mineralization identified through previous exploration. Major Drilling recently completed a site visit at Corral as part of final preparations for mobilization and the commencement of drilling.
Previous CRD focused drilling by Intrepid in 2024 and 2025 returned long near-surface intervals of high-grade copper (Cu) and gold (Au) mineralization.
Highlights from Intrepid drilling include:
112.95 metres (m) of 1.50 per cent Cu, 0.53 gram per ton (gpt) Au and 8.22 gpt silver (Ag) from 68.40 to 181.35 m in hole CC24_023 including:
63.40 m of 2.57 per cent Cu, 0.91 gpt Au and 14.14 gpt Ag;
1.40 m of 20.20 per cent Cu, 8.51 gpt Au and 250.00 gpt Ag.
193.15 m of 0.68 per cent Cu and 0.33 gpt Au from 27.00 to 220.15 m in hole CC24_011 including:
105.20 m of 1.17 per cent Cu and 0.55 gpt Au;
48.85 m of 2.24 per cent Cu and 0.97 gpt Au;
3.90 m of 6.80 per cent Cu and 1.02 gpt Au.
216.50 m of 0.71 per cent Cu, 0.28 gpt Au and 5.14 gpt Ag from 29.00 to 245.50 m in hole CC25_029 including:
49.10 m of 1.84 per cent Cu, 0.78 gpt Au and 11.41 gpt Ag.
198.00 m of 0.56 per cent Cu, 0.12 gpt Au and 4.35 gpt Ag from 10.00 to 208.00 m in hole CC24_016 including:
72.20 m of 1.28 per cent Cu, 0.08 gpt Au and 3.16 gpt Ag;
1.60 m of 5.30 per cent Cu, 1.95 gpt Au and 11.20 gpt Ag.
142.30 m of 0.51 per cent Cu, 0.17 gpt Au and 4.01 gpt Ag from 56.70 to 199.00 m in CC25_26 including:
84.90 m of 0.79 per cent Cu, 0.26 gpt Au and 6.18 gpt Ag;
17.65 m of 2.72 per cent Cu, 0.58 gpt Au and 18.16 gpt Ag;
0.55 m of 27.50 per cent Cu, 10.15 gpt Au and 192 gpt Ag.
Major Drilling is the world’s leading provider of specialized drilling services to the metals and mining industry, with operations spanning six continents, more than 6,000 employees and a fleet of more than 700 drill rigs. Established in 1980, Major Drilling has extensive experience executing technically demanding exploration programs and is recognized globally for its operational expertise, safety performance and ability to successfully complete challenging drilling projects.
Equity Exploration is a Vancouver-based geological consulting and project management firm specializing in advanced mineral exploration. Founded in 1987, the company provides technical, geological and logistical services across all stages of mineral exploration, and has contributed to more than 300 exploration projects involving over 1.4 million metres of drilling in North America and internationally. Equity Exploration will work alongside Intrepid’s technical team throughout the Corral drill program, providing drill supervision, core logging, geological data collection and management, and logistical and operational support.
CEO Matt Lennox-King said: “Finalizing our drilling and technical support teams represents another important step toward launching our most ambitious exploration program at Corral to date. Major Drilling and Equity Exploration bring extensive drilling, geological and project execution experience to the program. With the site visit now complete and final preparations under way, we remain on schedule to commence drilling in early September. With approximately half of the program focused on expanding the extensive CRD mineralization already identified and half dedicated to our first direct tests of high-priority porphyry targets, this program is designed to advance both components of the significant exploration opportunity at Corral.”
EDITOR’S COMMENT:
To learn a bit more about the upcoming drill program read the entire news release HERE.
Juggernaut Exploration reported that initial observations from the maiden drill program have already confirmed the extent of the Big Mac Zone to a depth of 1/2 kilometre (500 m) and a strike of 450 m where broad intervals up to 30.11 meters of quartz-sulphide mineralization have been intersected on the newly discovered district scale gold, silver, copper rich system on the Big One property.
The Big Mac Zone remains wide open both laterally and at depth. Multiple drill holes intersected substantial intervals of broad quartz-sulphide veins and shears containing quartz-sulphide mineralization and textures visually similar to those observed in surface samples that assayed up to 114.60 g/t AuEq (3.66 oz/t AuEq) and continuous channel cuts yielding up to 4.89 g/t AuEq over 5.21 meters. The drill program has been significantly expanded and remains ongoing.
President & CEO Manuele (Lele) Lazzarotto said: “The 2026 inaugural drill program has already exceeded the team’s expectations with multiple significant broad intercepts of quartz-sulphide veining up to 30.11 m wide on the Big Mac Zone that look similar to those sampled on surface that assayed high-grade gold up to 114.60 g/t AuEq. The initial Drilling has already confirmed that we were only seeing the tip of the iceberg on surface on Big Mac that now exceeds 450 m of strike and 500 m to depth and remains wide open. Based on these exceptional initial results, the Company has significantly expanded the drill program with multiple holes to ~13,000 m. We look forward to continuing to expand on this discovery in the third dimension both to depth and along strike and we are certain it will provide many additional pleasant surprises as drilling continues. Juggernaut Exploration is on track with discovery and looks forward to unlocking the full potential of this newly discovered district-scale gold system and building value for its shareholders for years to come. We plan to report additional results from the Big One property in the immediate future as the drill program continues with two drill rigs located on the Big Mac and Whopper zones within the 22 km 2 Eldorado system.”
The fully funded 2026 inaugural drill program has been expanded from 10,000 m to 13,000 m of drilling with two drill rigs and is designed to test the largest and most extensive veins hosted within the 22 km2 Eldorado zone, where surface samples assayed up to 263.70 g/t AuEq or 8.48 oz/t AuEq and channel cuts assayed up to 4.89 g/t AuEq over 5.21 m from >400 mineralized veins that are up to 10 m wide hosted in shear zones up to 50 m wide, and are exposed on surface for >1 km with >1 km of vertical relief and remain open. The planned drill holes are designed to intersect areas where multiple occurrences of gold visible to the naked eye (VG) have been identified in surface channel and grab samples from the Whopper Zone, the Big Mac Zone, and the Gold Dome Zone.
EDITOR’S COMMENT:
For additional technical details you can read the entire news release HERE.
Omai Gold Mines Corp. announced positive results from its Preliminary Economic Assessment (the "PEA") for its Omai Property, in Guyana, South America. The PEA mine plan incorporates both the Wenot open pit deposit and the adjacent Gilt underground deposit. These support production averaging 351,488 ounces of gold per year over an 18-year mine life, with peak year production of 435,667 ounces. Total combined production from the two deposits is estimated at 6,326,775 ounces of payable gold.
At a base case gold price of $3,600/oz, the project has an after-tax Net Present Value5% ("NPV") of $4.0 billion, a 24% Internal Rate of Return ("IRR"), and a payback period of 4.1 years. At the recent spot price of $4,200/oz, the after-tax NPV5% increases to $5.5 billion, IRR increases to 30% and the payback reduces to 3.4 years.
Highlights of Omai Project Preliminary Economic Assessment
6.327 million ounces of gold (”Au”) projected life-of-mine (”LOM”) payable production over 18 years
$4.0 billion after-tax net present value at a 5% discount rate at base case $3,600/oz gold, increasing to $5.5 billion at $4,200/oz gold
24% after-tax internal rate of return at $3,600/oz gold, increasing to 30% at $4,200/oz gold
$1.427 billion initial capital and sustaining and growth capital of $928 million over LOM
4.1 year payback at $3,600/oz gold, decreasing to 3.4 years at $4,200/oz Au
$1,501/oz gold average cash operating costs and all-in sustaining costs (”AISC”)1 of $1,608/oz
$8.093 billion cumulative after-tax cash flows2 over 18 years
351,488 oz Au per year projected average production over LOM, with peak year gold production reaching 435,667 ounces
1.35 g/t Au average head grade and 93% process recovery
5.9:1 average strip ratio for the open pit LOM
Elaine Ellingham, President and CEO commented: “We are very pleased to deliver this PEA, which reinforces the potential for Omai to become a very large-scale mining operation with a clear path to bringing significant economic benefits to the people of Guyana. This project’s proposed initial $1.4 billion investment into Guyana, equivalent to over GUY$300 billion would create many quality jobs and spin-off economic development within the interior of the country, while providing solid returns for investors.
This economic study encompasses both the large Wenot superpit and the adjacent underground Gilt deposit, demonstrating potential for total gold production of 6,327,000 oz over an 18 year mine life. This PEA serves as an important milestone and provides a base from which we intend to advance the project on multiple fronts towards a feasibility study. As a past-producer, Omai has many benefits giving it a leg up to re-development, including highway access, a cleared site, an on-site airstrip, a tailings facility, known metallurgy, and the unique confidence that comes from a historical record of economic gold extraction.
A very significant advancement for the project occurred less than one year ago, in August 2025. At that time, we announced our fourth Mineral Resource Estimate (”MRE”) for Omai, reporting an impressive 88% increase to the total MRE. The major expansion to the size of our open pit Wenot deposit firmly established Omai as one of the largest undeveloped gold projects in the Guiana Shield. Less than one year later, and following our 5th MRE update, we are very pleased to deliver this PEA that supports the upcoming steps towards a feasibility study, and then onward to a potential production decision and construction.
At the same time, drilling has continued with five rigs and an additional 77 drill holes have already been completed at Wenot that are not included in the MRE that forms the basis of this PEA. This leaves room for further growth and optimization. The Omai Gold team has consistently delivered for our stakeholders and with this PEA complete, we will continue to advance on a number of fronts towards our next ambitious milestones.”
Production Profile
This Omai PEA supports a combined open pit and underground mining scenario for production averaging 351,488 ounces of gold per year over an 18-year mine life, with peak year production of 435,667 ounces. Total combined production from the two deposits is estimated at 6,326,775 ounces of payable gold with an average head grade over the life of the mine of 1.35 g/t Au shown in Figure 3. Production in the first two years achieves 25,000 tpd using the lower grade stockpiles that are built up during the construction / pre-strip period. This material is replaced by higher grade production from underground from year 3 onwards.
Next Steps
The Omai project continues to be advanced as expeditiously as possible with the following activities planned or underway:
Geological work includes:
Ongoing 50,000m drill program with five drills working
Infill drilling of the Wenot open pit Mineral Resource to upgrade the large Inferred mineral resource and also expand the MRE
Recent completion of a 1400m long hole demonstrating the down dip extension of the Gilt intrusion that hosts the Gilt deposit, with assays pending
Further drilling to test the Camp Zone as well as the east and west extension areas of the Wenot deposit
Preparations to update the MRE prior to year end, incorporating current drilling plus 77 drill holes already completed since the April 2026 MRE, with many assays still pending
Engineering & permitting work includes:
Equipment for de-watering is arriving in country with site support infrastructure near completion; de-watering expected to commence shortly
Next phase of metallurgical work is underway, with large-diameter core samples from Gilt being processed for comminution test work to further refine the processing plant flowsheet
Refinement of the plant site location followed by condemnation drilling, and geotechnical and hydrogeological data collection programs
Steps towards environmental permitting continue
Continued engagement with communities and government
EDITOR’S COMMENT:
With over 340,000 ounces of low cost gold production per year over an 18-year mine life, it’s difficult to see how major miners won’t consider this a very valuable asset. The economics were run under a base case gold price of $3,600 against cash costs of $1,501/oz and AISC of $1,608. With the current gold price around $900 higher the margins look even stronger.
There is a lot of additional detail in this PEA. If you would like to dig into it more deeply go HERE here to read the entire news release.
Best wishes,
Jay Taylor
No posts
Comments
Nothing yet. Say the first thing.
Sign in to join the conversation.