With many financial markets across the globe plunging this week to new 52-week lows, pressure on central banks to expand their accommodative monetary policies is likely to continue to increase.
Richard Russell, publisher of Dow Theory Letters – the world’s longest running daily investment letter – wrote in his most recent column that “Deflation, over capacity and de-leveraging are the orders of the day.”
As a result, Russell provided Fed Chairman Bernanke with a short and sweet suggestion: “Gas up the helicopters, Ben.”
Klondex Mines Delivers Updated Resource for Fire Creek
Klondex Mines (KDX.TSX) announced the receipt of an updated technical report on its 100%-owned Fire Creek gold property, located in the Battle Mountain-Eureka Trend in Northern Nevada. The report was prepared in compliance with National Instrument 43-101. Full Klondex News Release.
* The cut-off grade also resulted in an inferred resource estimate of 458,084 ounces of gold.
* During 2009 and 2010, 14 holes were drilled to in-fill known mineralization, eight holes were drilled to extend the known zones along strike and 13 holes were drilled to test new geophysical targets.
HIGHLIGHTS:
* The updated Indicated Mineral Resource at a 4 gram per tonne (g/t) cut-off produced an indicated resource estimate of 1.6 million ounces of gold with an average interval true width of 6.7 meters.
* The cut-off grade also resulted in an inferred resource estimate of 458,084 ounces of gold.
* During 2009 and 2010, 14 holes were drilled to in-fill known mineralization, eight holes were drilled to extend the known zones along strike and 13 holes were drilled to test new geophysical targets.
Blane Wilson, Klondex President and CEO:
"This is an extremely exciting time for Klondex and Fire Creek, as an unprecedented level of exploration and development activity for the Company is underway. We have built a strong and efficient team to manage and execute these efforts using a mix of Klondex staff and experienced mining, engineering, exploration, permitting and construction consultants and contractors."
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