Gold Companies Handsomely Rewarded at Forefront of Canada's Next Gold Rush

FN Media Group Presents Microsmallcap.com Market Commentary

NEW YORK, Aug. 18, 2020 /PRNewswire/ -- The gold spot price just crossed the $2,000 threshold and broke it's all-time high and analysts say that it could hit $3,500 in two years. Now, as the industry sees the low gold price era in the rear view mirror, the conditions are primed for new high-value mine discoveries that may have been held back for almost a decade. The result in Canada has been a wave of optimism and high-impact development announcements from a wide variety of Canadian miners who have seen their overall market value climb since March, including First Energy Metals Ltd. (CSE:FE) (OTCPK:ASKDF), Kirkland Lake Gold (NYSE:KL) (TSX:KL), Osisko Mining (TSX:OSK) (OTCPK:OBNNF), McEwen Mining Inc. (NYSE:MUX) (TSX:MUX), and IAMGOLD Corporation (NYSE:IAG) (TSX:IMG).

A prime example of a beneficiary of the current gold bull market is First Energy Metals Ltd. (CSE:FE) (OTC:ASKDF), which saw its stock price skyrocket 480% between a March 25^th low and a May 25^th high, before correcting to its current 270% increase from the March figure.

The junior miner has three significant exploration properties across Canada, with two in British Columbia, and a newer addition in Ontario.

Overall, Canada is home to some of the greatest gold districts in mining history, the Abitibi Greenstone Gold Belt in Ontario and Quebec, the Red Lake Gold District in Ontario, and the Golden Triangle in British Columbia. In 2018, Canadian mines produced an estimated 183 tonnes of gold, marking an 88% increase from 2009, with Ontario and Quebec producing more than 75% of the gold mined in Canada.

So far, the market has begun to recognize the potential of this new gold rush, through examples such as First Energy Metals. The junior miner sits in a well known mining district, with past producing mines including the Molly Gibson and Alpine deposits. More recently, a revival of the Alpine deposit area came in with a 142,000 oz gold resource (NI 43-101 Inferred)  adding more validity to the potential of the Kokanee Creek project in British Columbia, and in just the last few months, has made leaps and gains made on its Independence Gold (BC) and Scramble Mine (Ontario) gold exploration properties.