(Geological Map of the NewMetal property with the new acquired claims blocs with respect to Amex Exploration’s Perron Project.)
As general market conditions appear to be in a renewed state of volatility so early into September, traders are likely looking to lock in profits and cut losses short wherever possible. One of the most popular safe haven assets is gold, but like any popular resource, everyone wants to know where the next big score lies and one such hotspot is la belle province – Québec.
The province has a reputation for being mining friendly with plenty of infrastructure in place for many operators already working there.
Nearly all of Québec’s substratum is
Precambrian rock, known for its rich gold deposits (as well as copper, nickel, and iron).
The story gets better, as less than half (roughly 40%) of Québec’s mineral potential has been uncovered.
So far, the Abitibi Greenstone Belt has unearthed numerous word-class deposits, such as a giant discovery by
Amex Exploration Inc. (TSX-V: AMX) and junior explorer
Starr Peak Exploration Ltd. (TSX-V: STE), who hit very high-grade gold in the area.
There is also a lot of activity in Québec – 30 major venues and roughly 160 ongoing exploration projects. Here are a few notable companies:
Xander Resources Inc. (TSX-V: XND) – This junior explorer targets projects located near the gold mining centre of Val-d’Or and in Fenelon Gold Camp by
Wallbridge Mining (TSX: WM). In August 2020, XND reported that work at its Blue Ribbon Property is advancing well, having just discovered a potentially prosperous gold zone. Xander Resource’s Corporate Secretary Dwayne Yaretz recently explained more about this in
an interview with Stockhouse Editorial.
Exploration-stage company
Galway Metals Inc. (TSX-V: GWM) operates the Estrades project, a past-producing, high-grade polymetallic volcanogenic massive sulfide mine in the northern Abitibi region of western Québec.
Maple Gold Mines (TSX-V: MGM) is headquartered out of Vancouver, BC and is advancing its 355-sq.-km Douay gold project located along the Casa Berardi Deformation Zone in the Abitibi region of northern Québec.
From January to March 2020, MGM completed a
4,370-metre drill campaign where 11 of the 14 holes drilled intersected higher-than-deposit-average-grade gold mineralization.
Maple Gold’s President and Chief Executive Officer Matthew Hornor explained that the company’s exploration team achieved excellent assay results across multiple zones during its winter 2020 program and the data will be used to design upcoming drill campaigns to uncover higher grade targets and to expand and upgrade the known resources at the Douay gold project.
“Maple Gold has a massive 357-square-kilometre land package with the opportunity to establish a district-scale gold project in the heart of the Abitibi Gold Belt. With our recently closed C$4.75 million financing, we are fully funded to execute on our exploration plans with the aim of completing an updated resource estimate in 2021.”
Another way investors can reduce their exposure to risk is to move off margin and be careful with new buys. Despite recent market volatility, gold prices have been trending higher and Québec is shaping up to be a prime territory for resource development … as well as portfolio development. Agree? Let us know your thoughts in the comments below.
New to investing in Gold? Check out Stockhouse tips on How to Invest in Gold Stocks and some of our Top Gold Stocks.
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FULL DISCLOSURE: Xander Resources Inc. is a client of Stockhouse Publishing.