PALM BEACH, Fla., Jan. 30, 2024 (GLOBE NEWSWIRE) -- FN Media Group News Commentary - In spite of ongoing regional wars and the shadow of the recent pandemic that have significantly affected the Gold Mining market, experts say that it is evident that this sector has witnessed remarkable growth in recent times. Increase in demand for gold and increase in the use of gold in various industries drive the growth of the gold mining market. Development of better mining equipment is expected to provide lucrative growth opportunity for the market. Major manufacturers with diverse customer bases, the ability to adapt to production fluctuations, and strong financial capabilities are likely to be the primary beneficiaries, as they can navigate through prolonged periods of uncertainty. A recent report from Market Reports World said that the Gold Mining market is poised for continued expansion in the coming years due to the increasing demand for sustainable and innovative products, as well as the widespread adoption of technology. By 2030, the global Gold Mining market size is projected to reach multimillion figures, displaying an unexpected compound annual growth rate between 2024 and 2030. It projected that the global Gold Mining market is projected to grow from USD 221580 million in 2023 to USD 260140 million by 2029, at a Compound Annual Growth Rate (CAGR) of 2.7(Percent) during the forecast period. The report said: “From 2024 to 2030, the Gold Mining market displays a consistent and positive growth direction, indicating a favorable outlook for the industry. This growth is propelled by several key factors, including increasing consumer demand, advancements in technology, and shifting consumer preferences.” Active stocks in the mining markets this week include Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB), IAMGOLD Corporation (NYSE: IAG) (TSX: IMG), Barrick Gold Corporation (NYSE: GOLD) (TSX: ABX), Newmont Corporation (NYSE: NEM) (TSX: NGT), Kinross Gold Corporation (NYSE: KGC) (TSX: K).
Market Reports World continued: “A significant driver of the Gold Mining market is the growing consumer awareness of health and wellness. This heightened consciousness has resulted in a surge in demand for Gold Mining products that are perceived as healthier and more natural alternatives. Furthermore, technological advancements within the Gold Mining industry have led to the emergence of more efficient and sustainable production methods, further enhancing market growth. Furthermore, key players in the industry are making substantial investments, which are anticipated to drive innovation and fuel market expansion. These investments primarily focus on the development of new products and the expansion of distribution networks, which in turn will stimulate future demand. In summary, the outlook for the Gold Mining market is optimistic, with sustained growth expected in the coming years. Increasing consumer demand, advancements in technology, and investments from key industry players are poised to drive growth and advance innovation within the market.”
Calibre Mining Corp. (OTCQX: CXBMF) (TSX: CXB) CONTINUES TO INTERCEPT BONANZA GRADE DRILL RESULTS ALONG THE MULTI-KILOMETRE PANTEON VTEM GOLD CORRIDOR AT THE LIMON MINE COMPLEX - DRILLING INTERSECTS INCLUDE 111.92 G/T GOLD OVER 4.1 METRES AND 33.60 G/T GOLD OVER 2.6 METRES - Calibre Mining Corp. (“Calibre” or the “Company”) is pleased to announce additional exciting results from its 2023 exploration and delineation drilling program at the Panteon VTEM Gold Corridor at the Limon Mine Complex. Previous results led to the discovery of the Panteon North deposit which yielded over 240,000 ounces of Proven and Probable Mineral Reserves (944,000 tonnes at 9.4g/t Au). The continued high-grade success within the Limon Complex continues to confirm the potential for resource expansion in the region.
- Drill intercept highlights along the Panteon VTEM Geophysical Gold Corridor include:
- 111.92 g/t Au over 4.1 metres ETW in Hole LIM-23-4866;
- 15.63 g/t Au over 5.7 metres ETW including 33.60 g/t Au over 2.6 metres ETW in Hole LIM-23-4869;
- 36.07 g/t Au over 2.2 metres ETW in Hole LIM-23-4799;
- 9.38 g/t Au over 9.9 metres ETW including 19.32 g/t Au over 4.5 metres ETW in Hole LIM-23-4817;
- 9.92 g/t Au over 9.6 metres ETW including 19.15 g/t Au over 3.9 metres ETW in Hole LIM-23-4843;
- 3.30 g/t Au over 11.2 metres ETW including 5.35 g/t Au over 3.3 metres ETW in Hole LIM-23-4794;
- 6.12 g/t Au over 5.8 metres ETW in Hole LIM-23-4862;
- 6.23 g/t Au over 5.1 metres ETW including 10.05 g/t Au over 2.4 metres ETW in Hole LIM-23-4850;
- 4.32 g/t Au over 6.5 metres ETW including 13.71 g/t Au over 1.8 metres ETW in Hole LIM-23-4853;
- 4.00 g/t Au over 12.0 metres ETW including 24.54 g/t Au over 1.7 metres ETW in Hole LIM-23-4855; and
- 7.19 g/t Au over 1.9 metres ETW including 14.90 g/t Au over 0.9 metres ETW in Hole LIM-23-4865.
Note: Estimated True Widths for reported vein intercepts are based on 3D models of the individual veins. Estimates are determined in cross-section by measuring the modelled vein thickness perpendicular to the vein margins and through the midpoint of the drill hole intercept.
Percentage based differences between individual ETWs and down-hole interval lengths will vary between drill holes depending on drill hole inclination, variations in vein strike and dip, and overall geometries of the different vein systems.
Darren Hall, President and Chief Executive Officer of Calibre, stated: “I am very pleased to see continued drilling success along the multi-kilometre VTEM Gold Corridor at Limon. The latest results are impressive and show a combination of new high grades and broad widths which should prove beneficial for future production, providing further opportunity to leverage the surplus processing capacity at our Libertad mill. The Limon District continues to demonstrate its significant value, reinforcing our confidence that resource conversion and high-grade additions will be possible with these results.”
Tom Gallo, Senior Vice President, Strategy and Growth of Calibre, stated: “The team is stepping out along this gold corridor with a focus between these latest drill holes and Panteon North, an area of approximately 750m of strike. Additionally, large step out drill programs north and east toward the historic Santa Pancha project are underway. To date, we have drilled 250 m below surface and mineralization remains open at depth. As such, we are testing holes to a depth of up to 450 m to fully realize the untapped potential of this region. Limon is a priority during our 2024 drill program with approximately 50,000 m of drilling planned in and around the complex.” CONTINUED… Read this entire release for the Calibre Mining Corp. at: https://www.financialnewsmedia.com/news-cxb/
Other recent developments in the mining markets include:
All assets are expected to contribute between 510,000 and 550,000 GEOs. The outlook reflects an expected lower contribution from our Guadalupe-Palmarejo stream and expected lower grades at Antamina and Antapaccay in 2022.
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