Daulton Capital Corp. today provided data on its gold property showing it’s close proximity to an area with over 1.5 million indicated ounces of gold. Well positioned in the well recognized, and prolific, Tintina Gold Belt, Daulton Capital’s Balarat Project straddles Balarat Creek, one of the most productive creeks in the Yukon.
The Balarat Project is in close proximity to both the Underworld and Kaminak discoveries, which are now owned by Kinross Gold Corp. (NYSE: KGC) after a takeover valued at about $140 million. According to recent reports, Kaminak has discovered two more new, at surface, gold zones with drilling at Americano yielding a new gold discovery of 2.36 g/t Au over 18m.
Approximately 15km due north of Daulton Capital’s Ballarat is Kinross’s White Gold deposit with resources estimated at 1,004,570 indicated ounces at 3.2gpt Au in the Golden Saddle zone and 407,413 inferred ounces at 2.5gpt Au. The Arc Zone has an estimated 170,470 inferred ounces at 1.2gpt Au, while the Supremo zone, located about 20km southwest of Ballarat hole, is estimated at 15.5m over 17.1gpt Au.
Considering that the Geological Survey of Canada (GSC) Regional Magnetic Map indicates the NE trending magnetic high that the Balarat claims cover is a reflection of the White Gold, and Golden Saddle Project and GSC silt sample values for the Balarat region is more than 2.5 times those of the White Gold Project, the case for an extensive exploration program on the property is quite strong.
Three years ago, the price of gold was approximately $695 an ounce. Since then, the price has more than doubled to hover at about $1,400. During that time, inflation averaged about 2.3 percent per year. In comparison, stocks, measured by the Dow Jones industrial average, fell about 21 percent from a high of 14,164 in October 2007 to 11,203 on Friday.
Many experts believe the price of Gold will continue to rise, reaching levels of up to $1500 an ounce or more next year.
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