As detailed in the article below, gold prices rose for a fifth consecutive session, reaching $1,992.63 an ounce, the highest since mid-May.
Source: https://www.mining.com/gold-price-nearing-2000-oz-as-middle-east-turmoil-feeds-safe-haven-demand/
Amidst the backdrop of a dynamic gold sector, Blackwolf Copper and Gold Corp (BWCG) stands out with its assets in British Columbia and Alaska's Golden Triangle.
BWCG boasts a 100% stake in the high-grade Niblack copper-gold-zinc-silver VMS project, located in southeast Alaska adjacent to tidewater. The company's assets also encompass five claim groups known as the 'Hyder Properties' near Hyder, Alaska, and Stewart, BC.
The Niblack project, situated on Prince of Wales Island, hosts multiple copper-gold-zinc-silver deposits and prospects, with a current N.I. 43-101 Compliant Mineral Resource. The indicated category includes 5.854 million tonnes averaging 0.94% Cu, 1.83 g/t Au, 1.73% Zn, and 29 g/t Ag.
BWCG's Hyder Properties consist of five claim groups, with a focus on the Cantoo project, which features undrilled outcropping zones with assays of up to 37.6 g/t Au, and Texas Creek, housing multiple precious and base metal prospects, including high-grade Solo and Dog Hole prospects.
BWCG closed up 15% today with well over 2 times its average volume, putting it up 23% over the week.
Earlier this week, BWCG closed an oversubscribed and upsized PP raising $3.26 Million. Notably, billionaire investor Frank Giustra led the investment. Frank Giustra and related entities acquired 3.125M units, bringing their ownership of BWCG to 13.02%.
The funds raised from BWCG's offering will be allocated towards conducting exploration activities at the company's various projects, including Niblack, Cantoo, and the Harry Project, and to support general working capital needs.
BWCG's immediate focus is to advance the Niblack Project, with upcoming initiatives for the Harry and Cantoo projects anticipated in Spring 2024.
Full news here: 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.