Based on data compiled by MINING.COM sister company Mining Intelligence, exploration activity in the gold sector jumped in July 2019, with both the number of drilled projects and the number of completed drillholes declining.

A trend towards exploration of advanced projects, rather than greenfield opportunities, was reversed in July with companies willing to take more early-stage exploration risks.

Top gold drill results – July 2019
Grade-width is calculated as width of the drill intersection (in metres) multiplied by the grade (in grams of gold per tonne). Where multiple high-grade intersections were reported for an individual project, only the best interval has been considered

Most companies prefer to extend the resource base of existing mines and advanced projects rather than invest in riskier early-stage drilling programs, says

“We have predicted a rebound in gold exploration activities following the euphoria surrounding the precious metal market, but did not expect that it would happen so soon and so fast.”

“In fact, July was the best month for gold exploration since the beginning of 2019 and companies have begun pouring money into drilling campaigns again”, Vladimir Basov, senior analyst at Mining Intelligence.

According to Mining Intelligence data compiled in July, companies reported exploration results for 171 projects, the highest count observed since the beginning of 2019.

Australia (74 projects drilled) and Canada (42) dominated gold exploration during the month.

In July, companies reported results from a record-high 2,906 drillholes – the number of holes were up in all major regions.

Click here for Mining Intelligence's map of drill results....

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