Is gold entering another phase of bullish growth?

Gold is currently trading at $US1,857.15 ($2,407.18) an ounce with analysts flagging that it is entering a bullish growth phase and could retest the $US2,000 threshold.

Kitco News quoted Standard Chartered Bank as saying that the majority of gold’s gains this year will “materialise in the first half of the year” and that prices could reach new heights.

OANDA senior market analyst Edward Moya added that gold could see $US1,950 by the middle of February.

Doubters remain with Capital Economics expressing its belief that gold’s big gains are over due to the COVID-19 vaccine roll out and risk-on sentiment.

More high-grade gold hits

White Cliff Minerals (ASX:WCN) has reported further high-grade gold intersections after receiving final assays from the first 38 holes of its maiden drill program at the Reedy South project near Cue, Western Australia.

Notable results are 3m at 8.87 grams per tonne (g/t) gold within a broader intercept of 11m at 3.19g/t gold from 51m and 6m at 2.96g/t gold from just 18m.

Results from the 38 holes covering the northern end of the King Cole prospect and central portion of the project around the Pegasus prospect have highlighted the grade continuation between the two prospects.

Drilling of the remaining five deeper RC holes, which are aimed at extending mineralisation at depth at the two prospects, will begin in the coming weeks.

Meanwhile, Anova Metals (ASX:AWV) has also hit high-grade gold at its Big Springs project in Nevada.

This included a top assay of 3.05m grading more than 6g/t gold within a 10.85m interval grading 3.96g/t gold from a depth of 87.33m.

Assays have now been received from four of the 10 diamond holes drilled at the North Sammy and South Sammy prospects and the remaining results are expected to be received over the coming weeks.

WCN and AWV share price charts

Early work extends mineralisation

In Argentina, Pathfinder Resources’ (ASX:PF1) geological mapping and rock chip sampling program has extended gold and cobalt mineralisation outside of the veins mined at its King Tut project.

Top sampling results are 37g/t gold and 1.4 per cent cobalt as well as 9.5g/t gold and 2.57 per cent cobalt.

The known area of mineralisation now stretches across a stack of quartz veins about 120m wide and 200m long. This remains open along strike, which offers potential for further growth.