gold exploration

Pacific Bay Minerals is raising up to $2 million through a non-brokered private placement of 20 million units to fund the acquisition and exploration of the Pereira-Velho Gold Project in Brazil. Additionally, the company is seeking to extend the expiry of 7.3 million warrants and has appointed Elton Pereira as country manager for Brazil.

Formation Metals is expanding its maiden drill program at the N2 Gold Project in Quebec to 7,500 meters. The program, starting in July, targets previously identified gold zones and aims to discover new mineralized trends across the advanced project, which holds a historical resource of approximately 870,000 ounces. The company also notes significant base metal potential at the N2 property.

Kenorland Minerals and Auranova Resources released significant assay results from their South Uchi Project, confirming a new gold system spanning five kilometers. 93% of drill holes intersected gold, with exceptional grades reported, including 14.60 g/t Au over 1.00 meter. Auranova has secured a 51% stake, and a follow-up drill program is planned for late summer.

Desert Gold Ventures Inc. (DAU) has signed an option agreement to acquire a 90% stake in the Tiegba Gold Project in Ivory Coast. The project, located in a promising gold belt with significant exploration potential, boasts a large land package, proximity to existing gold mines, and compelling gold-in-soil anomalies. Desert Gold plans to aggressively explore, aiming to define drill targets.

New Found Gold Corp. completed the second tranche of its “bought deal” offering, raising C$63.48 million. This final tranche, including the underwriters’ over-allotment option, generated C$21.4 million and involved Charity Flow-Through Common Shares and common shares. Funds will support exploration expenses at the Queensway Gold Project. Major shareholder Eric Sprott retained his stake. The offering, underwritten by firms including BMO, underscores strong investor confidence and is subject to regulatory approvals.

Eskay Mining Corp. is launching an aggressive June exploration campaign in British Columbia’s Golden Triangle, focusing on the high-grade gold veins at its Consolidated Eskay project. They aim to expand the Vermillion zone, where significant assays were discovered in 2024. CEO Mac Balkam highlights the project’s potential, citing its proximity to Newmont’s Brucejack Mine and aiming to refine a drilling strategy. Exploration will also target the Ted Morris and Big Red zones.

Provenance Gold Corp. is advancing its Eldorado East project, expanding its footprint with new claims near its core Eldorado property. Recent fieldwork confirms mineralization similar to Eldorado West, with initial sampling underway. Geologists are investigating the potential of black shale contact zones for high-grade gold deposits, focusing future exploration on Eldorado West. The company plans extensive data compilation, a drone survey, and drilling in the fall, pending permits.

Barton Gold Holdings (ASX: BGD) launched a drilling campaign in South Australia’s Gawler Craton to explore high-grade gold-silver deposits. The company, holding 1.7Moz gold and 3.1Moz silver JORC-compliant resources, maintains full ownership of regional processing infrastructure, including the Challenger mill. Supported by certified geologists, Barton targets 150,000oz annual production from its 64Mt resource base (0.83g/t Au). Amidst gold price surges due to geopolitical and inflation factors, the strategic assets position Barton for growth, though exploration risks and market volatility persist.