An Alaskan Gold Giant Grows Bigger
GoldMining Inc. (NYSE: GLDG)(TSX: GOLD) has announced an updated mineral resource estimate for its 100% owned Whistler project in Alaska.
Indicated and Inferred resources now total:
Indicated and Inferred resources now total:
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These are all increases over the previous estimate done in 2016.
According to GoldMining CEO Alastair Still:
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"The updated resource at Whistler provides a clear and modernized view of the potential of this large-scale gold-copper project. With approximately 3.0 million ounces of Indicated gold equivalent resource and 6.5 million ounces of Inferred gold equivalent resource, Whistler is currently one of the largest known mineral resources in Alaska, a proven mining jurisdiction. The updated resource estimate also includes approximately 422 million pounds of copper in Indicated resources and approximately 711 million pounds of copper in Inferred resources, which enhances the attractiveness of the project, especially given current copper price and the long-term outlook for copper demand.”
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Whistler was previously the flagship asset of Kiska Metals, which traded with a +C$100 million market cap during the last gold bull cycle.
It is only one of several resource-stage or better projects in GoldMining’s portfolio, which now totals nearly 30 million ounces of gold equivalent across all categories. This is one reason analysts have price targets as high as C$5.75 on the stock while it trades below C$2.00. Other reasons include the recent initiation of preliminary economic assessments for its La Mina, Yellowknife, and São Jorge gold projects in Colombia, Canada, and Brazil, respectively. Click here for our latest report on GoldMining Inc. (NYSE: GLDG)(TSX: GOLD). |
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— Resource Stock Digest Research
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