Government threatened a continent’s miners. African resource firms are under siege from new legislation in South Africa, DR Congo, and Zimbabwe.
Indonesia upped royalties on a near-dead sector. Strapped for cash, the government is increasing coal duties by as much as 6.5%.
Kenya’s resource sector sought $4 billion. The emerging coal and oil producer is looking for investment. And getting it from China.
U.S. courts said no to city hall frack bans. Judges in Ohio found that municipalities can’t impose their own rules on oil and gas drilling.
India re-allowed gold loans and coin imports. Regulators said banks can bring in gold for customers, for the first time in over a year.
Anatomy of a New Discovery District
Further to the last item above, it’s looking like there could be some positive surprises ahead for gold.
At the same time, it appears that some of the world’s traditional producers of the metal — such as South Africa — are going to face increasing issues.
Leading to the question: where’s next for gold discoveries?
Developments a few weeks ago provided an intriguing lead on this front. Suggesting that the Central American nation of Honduras might be opening for mining business (see “839 New Mining Projects Are About to Launch Here” – Pierce Points, Feb 8, 2015).
Honduras was actually a hotspot for gold development when the Spanish arrived in the New World in the 1500s. With the country’s northeastern Olancho region yielding production from placers and hard-rock lodes.
American interests developed major gold and silver mines like Rosario here in the late 1800s. Targeting sheeted vein swarms where ore averaged 17 oz/t silver (529 g/t) along with 2.5 g/t gold.
There’s been a lot less exploration in modern times — although a wave of work in the 1990s did uncover leads for gold, silver, lead and zinc. All of which means a beautiful confluence of proven prospectivity surrounded by lots of virgin terrain.
The map below (custom-compiled this week from historic reports) shows the country’s potential for not only gold and silver, but also zinc, copper, iron and manganese. In short, there’s a lot of room to run here — and some good leads on where to start the race.
I’m adding another 103 showings to this map from Japanese databases — and also going through the satellite imaging and structural data to refine targets. Already there are some patterns jumping out on big silver-gold-lead-zinc potential. Importantly, there are on-trend deposits here that run a half-billion ounces of precious metals — meaning that one of my favourite exploration techniques, the lonely giant, should work well in creating value.
The full discovery package will be available to members of the Pierce Points network in February — with the next steps being high-grading of targets, and assessment of discovery potential in the field.
I’m very encouraged about Honduras, having watched the recent opening of another historic mining hotspot — Myanmar — over the past four years. There, the combination of prospective terrains with first modern exploration has yielded incredibly high-grade discoveries.
It’s simply not often this situation comes together. Grab the opportunity before others stake it.