NEW YORK, August 23, 2018 /PRNewswire/ --

Gold future rose slightly on Wednesday after the Federal Reserve announced its plan to keep interest rate unchanged. Gold Spot was trading at USD 1,195.37 per ounce during the Wednesday trading session, while U.S. Gold future for December delivery was up 0.16%, to USD 1,201.90 per ounce. Gold has gained about 1.7% in the past three days. According to the Fed minutes from the July 31-August 1^st, Federal Open Market Committee meeting, Fed officials decided to hold interest rate steady as they expressed concerns over the mounting trade tensions. However, they remained confident on the strong U.S. economic growth and signaled that they are likely to raise rates next month. Sixty North Gold Mining Ltd. SXNTF, Comstock Mining Inc. LODE, Golden Star Resources Ltd. GSS, Great Panther Silver Limited GPL, Asanko Gold Inc. AKG

A weaker Dollar also helps stabilize the gold price. The Dollar index fell 0.11% to 95.15 on Wednesday. The yellow metal has been under pressure in the past few months, in part due to a higher interest rate and a strong Dollar. According to Reuters, Mitsubishi analyst John Butler, said, "The Fed was sounding relatively hawkish when it met last month and the outlook is likely to be for another rate rise later this year and that is largely within the gold price."

Sixty North Gold Mining Ltd. SXNTF also listed on the Canadian Securities Exchange under the ticker SXTY. Earlier last week, the Company announced that, "it has received the metallurgical test results from a quarter ton sample of the crown pillar of the A-Zone at the Mon Gold Property.

Three separate transects across the East Limb, Fold Nose (hinge) and West Limb of the A-Zone were sampled by mechanical hammer by the Company's CEO and director Ronald Handford and Dr. D.R. Webb. The material was bagged and tagged, and delivered to Bureau Veritas Laboratories in Yellowknife where it was shipped to their metallurgical testing lab in Richmond B.C. for testing by gravity and flotation methods.

Table 1. Summary results from metallurgical testing, 2018

    Composite ID - Sample Weight Tested - Head Grade, g/t Au -----Gold Recover, %Au

                       (kg)  Measured   Calculated   Gravity   Flotation   Overall

    Composite 1        75.6      17.4         16.6      79.9        18.0      97.9

    Composite 2        83.8     266.8        314.8      73.2        26.0      99.3

    Composite 3        83.6     170.7        128.9      75.7        23.5      99.2

    (Composite 1+2+3) 243.0     156.2        158.0      76.1        22.7      98.8

    All assays by Bureau Veritas FAA550 1 assay ton sample. Average sample size=1.8 kg.  

All samples were collected using an electric percussion hammer and located by tape and compass, bagged and tagged, sealed, delivered to Bureau Veritas Laboratories in Yellowknife and processed at their ISO/IEC 17025:2005 and ISO 9001:2015 metallurgical testing laboratory in Richmond, B.C. Bureau Veritas is independent of the Company. The sample was received, dried and weighed. Test grinds were completed and the samples were batched with a targeted grind of P80 -105µm."

Ronald Handford, CEO of Sixty North Gold, reports, "These results were expected based upon historic results and our recent trenching (News Release August 7^th, 2018). The very high recoveries, both by gravity as well as the combined gravity plus flotation, averaging around 76% and 99% respectively are consistent with historic results. The former operators only ran a gravity mill on site. The simple mill circuit required to process this mineralization has been permitted and could be installed upon confirmation of a larger bulk sample. These results further differentiate the Mon Gold Property as an advanced exploration opportunity and past producer, and represent a significant milestone for the Company in its advancement of the project. The environmental benefits of achieving very high recoveries without the use of cyanide leaching is notable."

Mr. Handford further reports, "Crews have been on the property since June assessing all historic showings and identifying new zones. Sample results are being received and will be released upon completion and confirmation by our QP."

Comstock Mining Inc. LODE is a Nevada-based, gold and silver mining company with extensive, contiguous property in the Comstock District and is an emerging leader in sustainable, responsible mining. Comstock recently reported its progress towards, and additional plans for, advancing its Dayton project, which contains the Company's second largest gold and silver mineral resource. The Company has retained the independent mining advisory firm of Behre Dolbear to produce a National Instrument 43-101 ("NI 43-101") compliant technical report for the Dayton resource area, followed by a Preliminary Economic Assessment ("PEA") during the fourth quarter of 2018. This report is expected to include a robust resource estimate, and to provide a plan to further develop the resource. It will also be the basis for the subsequent PEA, which will assess the preliminary economic feasibility for the project. Behre Dolbear authored the Company's previous, January 2013 Technical Report for the Comstock Mine Project, which included a resource estimate for the Dayton resource area. The 2013 estimate included 8.33 Million tons of Measured and Indicated resources, containing 238,000 ounces of gold and 1,770,000 ounces of silver, at a cutoff grade of 0.007 ounces of gold per ton. The estimate included an additional 8.59 Million tons of Inferred resources, containing 206,000 ounces of gold and 1,130,000 ounces of silver. The new report will be the first stand-alone, NI 43-101 compliant report for the Dayton resource area. Corrado De Gasperis, Executive Chairman and Chief Executive Officer of the Company, commented, "We have always planned for the Dayton to be our second operating mine, and have been working diligently to increase our understanding of this important area. The new technical report and PEA will confirm the value we have placed on the Dayton."

Golden Star Resources Ltd. GSS is an established gold mining company that owns and operates the Wassa and Prestea mines in Ghana, West Africa. Golden Star has recently announced that it has entered into a long-term, strategic relationship with La Mancha Holding S.à r.l., a Luxembourg-incorporated private gold investment company. The investment will create a long-term, strategic relationship with La Mancha, which will support Golden Star's growth into a leading African gold producer. Sam Coetzer, President and Chief Executive Officer of Golden Star, commented, "We are delighted to welcome La Mancha as a long-term, strategic investor. We share the vision of building a leading, Africa-focused gold producer and this transformative deal clearly endorses the potential of Golden Star's assets. La Mancha has a strong track record of creating sustainable shareholder value and their previous investments demonstrate their ability to identify compelling growth opportunities at an early stage. La Mancha's USD 125.7 Million investment will allow Golden Star to fast track our exploration and expansion programs at both Wassa Underground and Prestea Underground. The transaction also de-risks our balance sheet and lends us a platform to participate actively in the consolidation of the African gold mining industry. I am very encouraged by the professional approach of the La Mancha team and with our experience of building and operating mines, together we have the expertise and funding to grow across Africa."

Great Panther Silver Limited GPL is a primary silver mining and exploration company The Company recently provided an update on the progress of the trial stope and bulk sample program at its 100% owned Coricancha gold-silver-lead-zinc-copper underground mine. Coricancha is located approximately 90 kilometers east of Lima, Peru, and has a 600 tons per day processing plant, well-established infrastructure, and is fully permitted for production. Coricancha was placed on care and maintenance in 2013 and acquired by Great Panther in June of 2017. In December 2017, the Company released an updated mineral resource estimate for Coricancha. The Bulk Sample Program was initiated following the release of the results of the Preliminary Economic Assessment for Coricancha (the "PEA"), as detailed in the Great Panther news release dated May 31^st, 2018. The BSP will process about 6,000 tons of material and is expected to be finished in the first quarter of 2019. Its objective is to validate key mine and processing plant operating parameters in the PEA and further de-risk Coricancha. The Company will use these results as a basis for a formal decision to restart production.

Asanko Gold Inc. AKG aims to become a mid-tier gold mining company that maximizes value for all its stakeholders. Asanko recently announced that it has completed the required transactions with subsidiaries of Gold Fields Limited for a 50% joint venture interest in Asanko's 90% interest in the Asanko Gold Mine ("AGM") and its associated properties in Ghana, West Africa. Upon closing of the Transaction, Asanko received USD 165 Million in cash from Gold Fields, with the remaining USD 20 Million receivable in cash upon achievement of an agreed Esaase development milestone but in any event by no later than December 31^st, 2019. As previously announced, the Transaction will impact the recognition, presentation and measurement of assets and liabilities associated with Asanko's Ghanaian operations. The Company expects to record a non-cash loss associated with the loss of control of the AGM and associated properties in Q2 2018, which is expected to be approximately USD 0.60 to USD 0.80 per share. Peter Breese, President and Chief Executive Officer, said, "Today marks an important milestone for Asanko as we conclude our JV Transaction with Gold Fields and emerge completely debt-free, with a strong partner, a solid long life production base, competitive cost profile, fully funded organic growth and significant exploration potential.