Gold has surged into uncharted territory, breaking through US$3,500 an ounce for the first time, once again fuelling the fire for gold explorers.
The milestone comes as investors pile into the safe-haven metal, driven by a mix of continued macroeconomic uncertainty, central bank demand and growing expectations of a US interest rate cut.
Spot prices reached US$3,580/oz overnight, and currently sit around US$3,533/oz. Despite rising over 40% this year, analysts agree the rally still has room to run.
Evergreen (ASX:EG1)
Evergreen has significantly boosted its gold exploration assets in recent months, acquiring the Queens and Mt Monger Gold Projects in WA’s Goldfields, following the purchase of the Leonora Goldfields Project to mark the Company’s entry into the gold sector..
The Queens Gold Project sits within the Norseman-Wiluna Greenstone Belt near Leonora, a district that has historically produced millions of ounces of gold.
The project’s tenements are strategically positioned near Red 5’s +4Moz King of the Hills deposit and Northern Star’s Thunderbox operations, placing Evergreen in close proximity to established mining and processing infrastructure.
At Mt Monger, the company has secured a package of tenements covering one of WA’s most productive gold camps just south of Kalgoorlie.
The project boasts impressive historic intercepts including 40m @ 2.49 g/t Au from 32m, 3m @ 17.6 g/t Au from 13m, and 20m @ 2.87 g/t Au from 56m, highlighting its exploration potential.
