hipo resources whats 50000 oz jorc worth

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    more then $10 mill watch it dyor

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    nice near %100 bounce from 1.2 raise ..onwards and upwards very exciting gold play drill bits to turn come oct ?? dyor

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    Now to the acquisition, I believe this project is one which could surprise both us holders and the market, the project is located in central QLD close to rail and main roads. The project has produced gold in the past, I read somewhere that the recovery rates were around 73% from leaching. Little can be published by HIP in regards to previous drillings etc, as new JORC code 2012 comes with some pretty stringent guidelines and the likes. Governance prevents old drill plans to be announced etc.

    However some research on the two land grabs has shown some decent light shining, it may be coming off the potential gold In them hills.

    Below is a grab straight from Zamia's database.

    I believe as stated below that Lucky Break has some considerable potential for discovery, some decent hits and this will fly. 28.4g/t at the northern end of the pit sounds very tasty. Drilling will be interesting to say the least, it seems that Zamia has a good handle on where to target drill holes.

    This grab below is from Belyando Gold project, limited drilling with some hits with the mineralisation being open at depth and across the strike width. Some satellite gold deposits picked up some 200m from the open cut mine. Exciting is an understatement.

    Belyando Gold Project
    The Belyando gold deposit is located 2.5 km northeast of Zamia’s Anthony molybdenum project, within Zamia’s EPM 15145 Mazeppa Extended. During the period 1989 – 1995, open-cut mining followed by carbon-in-pulp (‘CIP’) extraction and, later heap leaching, produced almost 86,000 oz gold (Mustard R, 1998, Belyando gold deposit; in Geology of Australian and Papua New Guinea Mineral Deposits, Eds D A Berkman and D H Mackensie, pp 707 – 7014).

    The Belyando mine

    The deposit consists of multiple gold lodes which plunge to the northwest. The deposit was mined to a depth of 50 – 60m. The lodes remain “open” down plunge.

    Belyando drill section

    In November 2014, Zamia completed the first phase of a drilling program to test the extent of gold mineralisation down-dip of the mined deposit. Two holes (RC14BY004 and RC14BY005) intersected gold-bearing rocks underneath the Belyando pit, including a 70m intersection averaging 0.7 g/t Au. Elevated gold assays of up to 0.5 g/t Au within hole RC14BY007 reveal a previously unknown south-east extension to the Belyando gold system.

    Location of RC holes on aerial photo image of the Belyando open-cut mine

    Zamia’s exploration targets at Belyando are:

    Extensions of the known gold lodes to the northwest below and down plunge from the open-cut mine;
    Undiscovered lodes lateral to and along strike from known lodes. Magnetic imagery shows magnetite depletion (alteration) along a northwest-oriented structure;
    A broad zone of low grade gold (0.8 – 1.0 g/t Au) offering a target for a bulk-mineable gold deposit;
    Satellite gold deposits (e.g. the Ibis geochemical anomaly, located several hundred metres from the open-cut mine).

    I'll leave the below for the Geo's to interpret.

    In summary, I believe this project is a great grab, it's within Australia, it's not in the middle of nowhere. Close to some known deposits, close to mining jurisdictions. The share structure seems very tight on this stock. They've been able to secure capital in the current climate which is not an easy feat IMO.

    Zamia escrowing their shares for 12 months is a show of confidence, limited stock was traded today, I topped up on this news.

    Technically could test 3.6 cents if it breaks 2.3 tomorrow and holds.

    Whats not to like, accumulated low on my gut feel, now sitting on 100% from some of my parcels.

    Was valued as a shell, now with some action in the gold space, whilst Gold has entered a multi year bull run IMO, where else would you like your capital parked.

    Management should become more active now, they known how to preserve capital thats for sure check the expenditure forecast.

    This is yet to show up on peoples radar, news and thew gold hype could take this to test some resistance levels many multiples from todays SP.

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    looks set to run into drills 3 to 4 my call dyor

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    andrew forrest all over this ground..multi million oz targets go HIP$$

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    Impact locks in ownership of the Blackridge conglomerate goldfield

    Matt BirneySPONSORED
    Friday, 17 July 2020 5:32PM
    Matt Birney
    Impact Minerals locks in ownership of the Blackridge conglomerate goldfield in central Queensland. Credit: File
    Impact Minerals has locked in its ownership of the Blackridge conglomerate gold project, laying claim over majority of the historic goldfield in central Queensland. Blackridge produced over 300,000 ounces of gold from small scale, artisanal mining more than a century ago. Remarkably there has been limited exploration since that time. Impact is now looking to capitalise on the recent advances made through WA’s Pilbara conglomerate discoveries to realise the potential of this shuttered opportunity.
    The company has been quietly building and working on its position at Blackridge since 2018. The recent relinquishment of ground, by private development group Rock Solid Pty Ltd, has allowed the company to consolidate its holding in this strategic location, pegging two new permits in the north of the field.
    Impact’s Blackridge gold project is located north of the town of Clermont in central Queensland, approximately 300 km to the west of the regional hub of Rockhampton. The company has recently applied for an additional two permits over the area bringing its total ground holding in the region to a commanding 150 square kilometres. Its tenure now covers 90 per cent of the historic Blackridge conglomerate goldfield, which includes the extensive Blackridge and Springs gold trends.
    In recent years conglomerate gold has made a huge splash in the resources sector with high-profile developer Novo Resources delivering company-making discoveries in the Pilbara region of WA. Whilst the Pilbara is now a hotly contested terrane, conglomerate gold mineralisation is also found in other parts of Australia including the world-class goldfields of Queensland and Victoria.
    Blackridge was historically exploited by small scale miners using shafts to access the shallow gold-bearing conglomerate horizons with records revealing that these excavations often delivered a treasure trove of gold. Production from shallow workings at Fox’s Leed and Wainboro’s averaged more than 120 g/t gold hinting at the incredible potential of the goldfield.
    Impact’s exploration strategy will build on many of the lessons learned in the Pilbara with initial work slated to include bulk sampling and trial mining, which will allow a better estimate of the grade and distribution of nuggety gold in the host conglomerate units. Early work by Impact shows that by increasing the volume of samples, through large diameter drilling and bulk sampling, a subsequent increase in the recognised grade, thickness and lateral extent of the gold mineralisation is realised when compared to conventional drilling and exploration methods.
    The Blackridge conglomerates exhibit two unique geological features that make them a highly attractive development target, primarily that the gold sits in a weathered conglomerate unit and is amenable to free digging via excavator. Secondly, the gold in this geological unit is easily won with a simple wet gravity circuit, which recovers more than 95 per cent of the contained gold. These two attributes flag a potentially cheap mining and processing operation for Impact, with low CapEx and start-up costs.
    Historical mining at Blackridge focused on the near-surface conglomerate gold in the central section of the field - an area now covered by three mining lease applications owned by Rock Solid. However, Impact’s two new applications at Pewt’s and Hard Hill cover the down-dip extensions to the old mining area and a first-pass evaluation by the company indicates these areas have been subject to low levels of artisanal mining activity due to the increasing depth of the conglomerate lodes.
    These down-dip extensions are laterally extensive, with the target area at Hard Hill covering an area of more than 1,200 metres wide, 2,000 metres long and extending to depths of up to 100 metres. The targets represent a significant opportunity for the company, with the hope being that much of the gold remains insitu, just waiting to be recovered from its conglomerate host.
    Impact is quick to point out that other opportunities for additions to Blackridge’s rich inventory also lie within the company’s new holdings. The regional extensions of the conglomerate units below the laterally extensive volcanic cap rocks have yet to be investigated, whilst the presence of epithermal gold mineralisation, associated with local scale faulting at Pewt’s, may represent the primary source for the adjacent conglomerate gold mineralisation.
    In what appears to be a shrewd acquisition for Impact, the pegging of the Blackridge goldfield places the company in an enviable position to begin its planning for a cheap, large-scale, bulk mining opportunity in Queensland, delivering yet another outstanding opportunity into this multi-commodity developers portfolio.

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    andrew forrest soaking the ground up..dyor

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    HIP winding up dyor...

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    andrew forrest pegging as much ground around HIP as possible..worth a watch IMO dyor

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    Twiggy likes the address..worth a watch..dyor

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    drills to start turning in a few months..worth a watch

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    Green light for goldfields farm-in deal
    Green light for goldfields farm-in deal
    Hipo Resources says it will be proceeding with a deal to gain an interest in a package of Central Queensland gold projects, including the historical Belyando and Lucky Break open-pit mines.

    The company recently announced a binding heads of agreement with Zamia Metals to acquire up to 70 per cent of Zamia Resources, which holds four exploration permits over about 115 sq km in the Drummond Basin region.

    It announced this week that the Board was satisfied with the outcome of its technical due diligence and intended to finalise the deal in coming weeks.

    “We are extremely pleased to be proceeding with the Zamia farm-in as we commence work to unlock significant value from what we believe are vastly under-explored and under-developed assets,” Hipo executive chairman Maurice Feilich said.

    “We have a busy work program to complete over the coming months and look forward to providing regular updates as exploration activity including drilling progresses.”

    Shallow open-cut operations in the 1980s and early 1990s produced about 93,000oz of gold at Belyando (pictured below) and Lucky Break.

    Hipo can earn a 30 per cent stake in Zamia Resources with a minimum project spend of $425,000 within the first six months.

    In an announcement to the ASX this week, Hipo said work was underway on a planned drill program to test the Belyando and Lucky Break mines and likely mineralisation extensions at strike and depth.

    Some other encouraging targets identified during due diligence would also be drilled, the company said.

    1 like
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    Amid so much global uncertainty and chaos, just how high can the gold price go?
    Gold’s unrelenting march higher shows no signs of slowing after a plunge in the US dollar swept prices past the previous high set in 2011 and put the metal on track for even bigger gains (reports Bloomberg).
    31st July 2020
    Resources Rising Stars
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    Gold’s unrelenting march higher shows no signs of slowing after a plunge in the US dollar swept prices past the previous high set in 2011 and put the metal on track for even bigger gains (reports Bloomberg).

    Bullion’s surge came as a gauge of the US currency sank to the lowest in more than a year, the latest in a long line of bullish factors — including negative real rates in the US and bets the Federal Reserve will keep policy accommodative when it meets this week — that are pushing prices ever higher.

    With the world facing an extended period of unprecedented economic and political turmoil, gold’s now got $US2000 in its sights. Some in the market suggest the haven could rise even beyond that.

    Nascent signs of gold’s record-breaking ascent began to show in mid-2019, when the Fed signalled a readiness to cut interest rates as uncertainty — primarily about the impact of the US’s trade battles — clouded its outlook.

    The rally gathered pace in early 2020 as geopolitical tensions rose and the coronavirus outbreak hurt growth worldwide, pushing governments and central banks to unleash vast amounts of stimulus, and sending real rates slumping further into negative territory.

    “Strong gains are inevitable as we enter a period much like the post-GFC environment, where gold prices soared to record levels as a result of copious amounts of Fed money being pumped into the financial system,” said Gavin Wendt, senior resource analyst at MineLife Pty.

    A weak dollar and negative real rates are providing further impetus. Gold may consolidate before setting its sights on $US2000 and above in coming weeks, he said.

    Investment demand has been unrelenting. Holdings in gold-backed exchange-traded funds have beaten all-time highs nearly every month since late last year and inflows this year have topped the record annual total set in 2009. The additions make up roughly one-fifth of expected mine supply for the year, according to research group Metals Focus.

    Gold’s been drawing investors even as equities climbed — with the exception of a sharp sell-off in March as traders liquidated bullion holdings to cover losses in other markets — and it’s US bonds that have been the key metric to watch. The metal is serving as an attractive hedge as yields on Treasuries that strip out the effects of inflation fall below zero.

    It’s not just price moves that are proving historic. The virus shined a spotlight on a traditionally overlooked corner of the market — logistics. A chaotic period in March saw extreme distortions between London and New York gold prices due to an unprecedented snarl in the movement of physical metal, with the grounding of flights and refinery shutdowns sparking concerns about a shortage of bullion available in New York in time to deliver against Comex futures.

    That crisis eased — there was enough gold — but the dislocation prompted CME Group, which owns Comex, to announce that it would offer a new futures contract with expanded delivery options that included 400-ounce bars, which is the size accepted in London. It later said traders will be able to deliver gold in London vaults against the new contract.

    Next up for investors and a possible fillip for gold, is this week’s Fed meeting July 28-29, where officials are expected to keep interest rates near zero and debate a possible shift in its strategy.

    The Fed’s path forward will be closely watched. From December 2008 to June 2011, the Fed bought $US2.3 trillion of debt and held borrowing costs near zero per cent in a bid to shore up growth, helping send bullion to a record in September 2011.

    On top of historic low rates, central banks and governments have passed trillions in stimulus packages to curb the economic toll of the pandemic, and if that continues, investors will continue to buy into gold, said Nitesh Shah, London-based director of research at WisdomTree.

    “Some investors out there are a little uneasy or uncertain about what this means for the long-term future,” he said. “If these stimulus packages can’t be withdrawn at some point in time when the economy can handle it, are these things going to become quite inflationary?”

    Forecasts for further gains have been building even before gold’s most recent breakthrough. Bank of America has stuck with its April forecast for $US3000 gold over the next 18 months. UBS Group sees prices reaching $US2000 by end-September, global chief investment officer Mark Haefele said in a note Monday. The group has added the metal to its “most preferred asset list”.

    “You simply couldn’t pick a more perfect storm of events which would allow for gold to perform,” said Steve Dunn, head of ETFs at Aberdeen Standard Investments.

    “With low interest rate policies, negative real rates, super accommodative monetary policy, huge amounts of global fiscal spending, a weaker dollar, escalating US-China tensions and no clear end in sight for the coronavirus pandemic, all of the parts of the equation are coming together.”

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    Hot metal: Why investors have taken a shine to gold
    There are very good reasons that investors are buying up gold ... and as a result, the ‘ultimate insurance policy’ against global financial uncertainty is about to notch new records.

    By JOE WALLACE

    Gold is more a currency than a commodity. Picture: AFP
    Gold is more a currency than a commodity. Picture: AFP
    From Dow JonesAugust 7, 2020
    6 MINUTE READ
    Gold prices are on track to notch new records this week, after closing at over $US2000 a troy ounce for the first time on Tuesday in New York trading.

    That marks a fresh milestone in a bull run that began in late 2018 and has gathered momentum during the coronavirus pandemic.

    The precious metal has soared almost 35 per cent in 2020, outstripping the rally in the Nasdaq Composite Index of high-flying technology stocks.

    READ NEXT

    Dutch cyclist ’stable’ after horror crash
    AFP
    Here is how the gold market works, and why prices are rising.

    READ MORE:Record gold price triggers ETF investor rush|Low rates, high gold could be silver lining
    -

    What is the gold market?

    There are two gold markets, closely linked because investment banks and other big players are active in both.

    The first is the physical market, which brings together miners, refiners, jewellers, central banks, electronics manufacturers, banks and investors. London is the focal point, dating back to 1697. Shanghai, Zurich, Dubai and Hong Kong are also hubs.

    THEAUSTRALIAN.COM.AU1:07
    Gold prices soar amid coronavirus uncertainty
    Gold prices hit $2,000 an ounce for the first time earlier this week, the latest surge in a commodity seen as a refuge during economic uncertainty.

    The second market is the futures market, for swapping financial contracts based on gold. This market is electronic, hosted by New York’s Comex exchange, and sets the prices you read about in the media. It gives investors an opportunity to speculate on gold prices rising or falling without holding the metal, and miners a way to insulate themselves from unexpected price drops.

    -

    How does the physical market work?

    Deals to buy, sell and lend gold in London are struck privately, rather than on an exchange. To reduce the amount of metal that has to be shunted from vault to vault, five banks act as a clearing house, balancing out each other’s sales and purchases. Some of them provide vaults, offering clients a safe place to stash gold.

    The Bank of England guards more than 400,000 bars beneath the streets of the City of London, largely on behalf of the UK government and other central banks, a hoard second only to the Federal Reserve Bank of New York. Prices are quoted by troy ounce of pure gold, and bullion trades in batches of 400-ounce bars.

    London prices are fixed in twice-daily auctions and act as a benchmark in physical markets. When a watchmaker buys gold from a refiner, it usually does so at a premium to the London price.

    To avoid paying for tonnes of gold, tying up millions of dollars in cash, industrial users often borrow metal instead of buying it outright. Banks either lease it to them, charging interest, or lend with more complex forward, swap and repurchase deals.

    -

    How does the financial market work?

    Futures are standardised contracts that lock in prices for gold that will change hands at a specified date. Buyers and sellers agree to swap 100 troy ounces (a new Comex contract that allows delivery of 400 ounces has barely traded). Gold futures trading data go back to the final day of 1974, when Comex launched the market to coincide with a law allowing Americans to own bullion for the first time in four decades.

    Most traders exit futures trades before they actually exchange gold. Recently, however, more investors have taken delivery of gold on the Comex, a sign demand for physical gold is unusually high.

    -

    Why are gold prices soaring?

    The main reason is this year’s drop in yields on US Treasuries to levels below the expected pace of inflation. Unlike bonds or bank deposits, gold doesn’t pay any income. As a result, owning gold means missing out on yields from other assets when interest rates are high. When real yields are negative, gold’s lack of yield becomes a strength.

    Gold at the Goudwisselkantoor (Gold Exchange Office) in Klaaswaal, The Netherlands. Picture: AFP
    Gold at the Goudwisselkantoor (Gold Exchange Office) in Klaaswaal, The Netherlands. Picture: AFP
    The Federal Reserve’s March decision to slash interest rates to just above zero and buy hundreds of billions of dollars of bonds has pulled down yields in fixed-income markets, prompting investors to buy gold instead. Some money managers expect inflation to pick up once the economic crunch is over, which would act as a further drag on real yields if nominal rates don’t rise.

    Investors are also buying gold because they think it will hold its value if stocks take another tumble. Enthusiasts take this argument a step further, contending that gold is the ultimate insurance policy against a scenario in which the US government defaults or kindles inflation to alleviate the burden of debt.

    “Gold is a haven,” said Rhona O’Connell, head of market analysis for Europe, the Middle East, Africa and Asia at StoneX. “It doesn’t have anyone else’s political or financial risk associated with it.” Another tailwind for gold right now is the depreciation in the US dollar. Buyers outside the US are willing to pay a higher dollar price when the greenback weakens, making gold cheaper in terms of their home currencies. This relationship doesn’t always hold: gold and the dollar shot up in tandem in March during a period of turmoil in financial markets.

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    How does this compare with previous bull runs?

    Two other run-ups have taken place since President Nixon cut the link between gold and US dollars in August 1971. The most dramatic spanned the rest of the 1970s, when inflation exacerbated by twin oil crises led the gold price in London to soar from $43 a troy ounce to $850 in early 1980.

    “We’re in World War Eight, if you believe the market,” a commodities broker named James Sinclair told the New York Times on January 21 of that year, the day prices crested.

    Prices jumped again from 2008-11, when interest rates fell because of aggressive stimulus measures by the Fed and a recession that was, at that point, the worst since the Great Depression. Worries that bond-buying by the Fed would lead to runaway inflation — which didn’t transpire — also contributed to the advance.

    -

    Will gold prices keep rising?

    It took three years after the start of the previous financial crisis for gold prices to peak, notes Edmund Moy, who was director of the US Mint at the time.

    “They kept on going up until it was very clear that the US economy would recover slowly and that there would not be inflation,” he said. “I think we’re at the very beginning of momentum for gold prices going up.”

    Gold prices tend to overshoot, according to Fergal O’Connor, an economist at University College Cork who has studied the market’s history. Still, he expects them to fall back to a higher level than they were before the pandemic because institutional investors are adding to their gold holdings, removing a chunk of available supply. The return of jewellery demand in China and India could also boost prices.

    The biggest deciding factor would be the direction of interest rates, adjusted for inflation, Standard Chartered Suki Cooper said. “It’s real yields that are really driving the flows into gold.”

    -

    Is gold a commodity or a currency?

    Both. Gold is a commodity in that it derives its value, in part, from its use in products like jewellery. Banks that are active in the physical market trade gold on their commodities books, and the futures market in the US is regulated by the Commodity Futures Trading Commission. Gold is treated like any other commodity on banks’ balance sheets under the Basel III regulatory guidelines, designed to avoid a repeat of the 2008-09 financial crisis.

    Gold is also a currency. For millennia, the metal has functioned as a store of value, unit of account and medium of exchange.

    The Power of Gold, by Peter Bernstein.
    The Power of Gold, by Peter Bernstein.
    “The Egyptians were casting gold bars as money as early as 4000 BC, each bar stamped with the name of the Pharaoh Menes,” the financial historian Peter Bernstein writes in “The Power of Gold: The History of an Obsession”. Bullion played a foundational role in the monetary system from 1717, when Sir Isaac Newton, master of England’s Mint, established a price ratio between gold and silver, to 1971, when President Nixon ended the convertibility of dollars into the precious metal.

    Though gold stopped underpinning exchange rates after the “Nixon Shock”, the metal still plays a part in currency markets. Central banks in emerging markets have, for instance, boosted their gold holdings in recent year.

    “It is more a currency than a commodity,” said Dr O’Connor. “Everything else, to one degree or another, gets used up and doesn’t come back into the market. Gold just stays there.”

    Dow Jones Newswires

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  20. 2.1k
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    Drill bit should turn oct...imo

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