Bullish Gold Market Boosts Prospects for BWCG As explored in the Market Insider article below, the current conditions, driven by geopolitical tensions, central bank gold purchases, and expectations of declining interest rates, all point to a highly favorable outlook for the gold market. Furthermore, the current spot price of gold stands at $1,981.22 per ounce, coming close to its historical peak of $2,074.88 per ounce and numerous analysts anticipate that gold will attain a fresh all-time high by the end of the year.
Source: https://markets.businessinsider.com/news/stocks/gold-price-predictions-2024-1032735257
In this context of strong gold prices and a positive outlook for the industry, Blackwolf Copper and Gold (ticker: BWCG.v or BWCGF for US investors) emerges as a high potential junior gold exploration company with a relatively small market capitalization (<$29M) and valuable assets located in the Golden Triangle of British Columbia and Alaska.
Blackwolf's Niblack project, situated on Prince of Wales Island, Alaska, features multiple deposits and prospects abundant in copper, gold, zinc, and silver. A recent NI 43-101 report validates resources of 5.854 million tonnes, with an average composition of 0.94% Cu, 1.83 g/t Au, 1.73% Zn, and 29 g/t Ag.
The company's Hyder Properties consist of five project blocks, with particular emphasis on the Cantoo project, showcasing undrilled outcropping zones with assays of up to 37.6 g/t Au, and the Texas Creek project, which houses various precious and base metal prospects, including two high-grade prospects.
Furthermore, Blackwolf recently acquired the 1,333-hectare Harry Property located within a geological corridor known for its gold-silver mineralization.
Blackwolf has garnered increasing investor support and attention, as evidenced by its recently concluded oversubscribed and expanded private placement, raising $3.26 million. Notably, billionaire investor Frank Giustra led this investment, obtaining 3.125 million units and establishing a 13.02% ownership stake in BWCG. Giustra has also been known to buy BWCG shares on the open market.
The proceeds from Blackwolf's offering will be used to finance exploration activities across its projects, including the Niblack, Cantoo, and Harry Projects, as well as to meet general working capital requirements.
Blackwolf Copper and Gold's primary focus lies in advancing the Niblack Project, with forthcoming initiatives for the Harry and Cantoo projects anticipated in 2024.
Full Press Release: https://blackwolfcopperandgold.com/news/latest-news/blackwolf-closes-oversubscribed-upsized-private-placement-with-lead-order-from-frank-giustra/
Posted on behalf of Blackwolf Copper and Gold Ltd.