By Robert Kuhl
It appears gold and silver markets have turned around and eventually the demand for bullion should be reflected in its price rather than being over-powered by the paper market.
The actual demand, especially for gold from countries like China, India and Russia, to name a few, is unprecedented. Some of the stocks have recently had an increase in price and appear to be building a base.
Once the resistance levels of gold and silver prices have been successfully penetrated, we believe the upside potential for both bullion and precious metal stocks is staggering.
Perhaps the attention to the manipulation of interest rates (Libor) currencies (Forex) and the recent daily London Gold Fix and the massive printing of currencies world wide will shorten the time to the next up leg in the bullion markets.
Who knows how the request for German repatriation of its gold from the U.S. and the ongoing political strife in the world, most recently in the Ukraine/Crimea, will affect gold and silver prices.
During 2013, the company’s exploration focus was on Frank Creek — its flagship polymetallic project.
The widespread occurrence of footwall-type alteration and mineralization on surface and in drill core affirms the overturned nature of the local stratigraphy, evidenced by results from previous exploration programs and the 2013 drilling.
The massive sulphide lenses discovered in the Discovery Trench in 2001 and in trenching and drilling programs since then exist in a favourable stratigraphic contact horizon.
VMS deposits in other mining districts commonly form at or along contact of sedimentary and volcanic rocks with similar alteration assemblages.
Size and grade of the mineralized zones are currently unknown and can only be defined by future drilling and trenching programs.
The results to date at Frank Creek, located 77 km northeast of Williams Lake near Cariboo Lake, show strongly anomalous base and precious metal mineralization in well-defined stratigraphic horizons with the mineralization intersected enriched in copper, zinc, lead, silver and gold as well as a number of pathfinder elements that are characteristically elevated in and around Kuroko type deposits like Kidd Creek and Brunswick 12 deposits in eastern Canada.
Although the attendance at the resource shows is down somewhat, the enthusiasm amongst those attending is palpable.
We continue to cultivate relationships with foreign companies and always make new contacts at these shows.
The successes of companies in our area, such as Barkerville Gold, will only contribute to increased attention to the Cariboo district as an excellent area for mining.
Robert Kuhl is Barker Mineral’s vice-president of public and corporate communications.