With inflation finally going down to the point the Federal Reserve almost certainly intends to announce the first rate cut in September, and the gold price reacting favorably as it hovers around the US$2,400 levels since April, Aztec Minerals (AZT: TSX-V, OTCQB: AZZTF) profited from slowly increasing gold junior sentiment, and managed to raise C$2.575M in a non-brokered LIFE offering.

When PTX Metals (PTX:CSE)(9PX:FRA) set out to raise C$750k for exploration at their flagship W2 Cu-Ni-PGE project in Ontario, it was good to see the flow-through financing closed oversubscribed, to the amount of C$860k, with some last minute entrants coming in.

Summary

• Very experienced team (exploration and mine building), Technical Advisor and significant shareholder Peter Megaw
• Underexplored 1,420ha greenfield Hot Breccia project in Arizona, adjacent to former Christmas Mine and nearby the colossal Resolution deposit
• Prismo Metals management believes Hot Breccia could represent the same geological concept as the Resolution deposit at depth, combined with evidence pointing towards mineralization directly on the other side of an intrusion, separating Hot Breccia from the Christmas deposit
• This evidence encompasses information about sampling, mapping, stratigraphy and mineralization at depth

• Known historic intercepts include 26m @ 0.54%Cu, 20m @ 1.4%Cu, 8m @ 1.73% Cu plus 5m @ 1.4% Cu, but most data on grades from historic drilling are missing.

Summary

• A high-grade gold exploration project led by Chairman & CEO Gerald Panneton of Detour fame
• 14 Moz Au produced @ 16-22 g/t Au in Yellowknife over 5km of Campbell Shear structure, Gold Terra controls remaining 70km
• Underexplored 918km2 brownfield project with infrastructure including 1,900m deep shaft all in place

• Existing near surface 1.78Moz Au resources, historic deep 650koz Au resource
• Historic intercepts of unmined zones assayed 19.3m @ 534g/t Au, 12.4m @ 22.5g/t Au and 6.89m @ 79.3g/t Au
• Deep multi-million ounce potential at Campbell Shear, directional drill program currently underway
• After raising C$2.5M in April (Eric Sprott, Rob McEwen), cash position is C$3.5M
• Gold trading at all-time highs, recently surpassing US$2,400/oz again

1. Introduction

An old proverb in mining is to look for deposits in the shadow of a headframe, implying potential mineralization on strike with a deposit of an existing or historic mining operation.

Ice drilling at Regnault target, Frotet project, Quebec

With conflicts around the world not exactly working towards a solution, with Taiwan potentially entering the mix since China wasn’t too happy with the speech of the Taiwanese president, gold remains strong above US$2,300/oz despite rumors swirling around of a first rate cut in September this year.

With the gold price holding strong above US$2,300/oz levels, perhaps due to the Russia and Israel conflicts aggravating while inflation increases again - thus delaying timing of upcoming rate cuts by the Fed –  Westward Gold Inc. (WG.CSE) is progressing on the exploration front and recently announced positive sampling results for Toiyabe and East Saddle, after raising an oversubscribed and non-brokered sum of C$1.66M last month.

In a time where the world seems to get increasingly used to the Russia and Israel conflicts, China antics on trade and Taiwan, and a Federal Reserve preparing for rate cuts beginning in June, the gold price has broken out pretty violently, and printed a new high over US$2,400/oz, and maintains these lofty levels so far.

As the stockmarkets in the US are printing all-time highs again, not really urging the Federal Reserve to lower rates anytime soon it seems as inflation remains well above target, Kenorland Minerals (KLD.V)(3WQO.FSE) announced the final drill results for Regnault, part of their flagship Frotet Project in Quebec.

With the Federal Reserve indicating doubts about retreating inflation levels, postponing a potential first rate cut to at least May, the US stock markets hesitated just a moment, the S&P500 printing new all-time highs shortly after, and with gold remaining well over US$2,000/oz, Goldshore Resources (TSXV:GSHR)(OTCQB:GSHRF)(FWB:8X00) stayed the course as promised, and announced their updated resource estimate for their Moss Gold Project in Ontario.

With the Federal Reserve indicating doubts about retreating inflation levels, postponing a potential first rate cut to at least May, the US stock markets drifted lower initially, but found strength again soon that same day, and gold didn’t even faze and marched up to US$2083/oz anyway, the highest level of this year.