Phoenix Gold Project in Battle Mountain, Nevada Chart Making Higher Highs

Phoenix Gold Project has come on the radar this month. It’s an exploration company with a market cap around $17 million. What’s noteworthy is that many of its gold and copper mining and exploration projects have already proven to be profitable over time.

Battle Mountain, one of the areas being explored by Phoenix Gold Project businesses, is a mining district that has a long history of producing copper and silver. It is now one of the most productive gold-producing areas in the world.

Gold reached a critical bottom many weeks ago when the price of gold began to create a bullish divergence versus the US dollar.  Since then a lot has happened. When the GDX/GLD ratio rises, it’s one of the best indicators that gold is now a feasible investment.  More on that later… First, let’s find out more about Phoenix.

Overview of Phoenix Gold Project

Phoenix Gold Resources Corporation is one of the best mineral exploration and development companies that has focused on gold, copper, and silver production in the past. They also explore, develop, and acquire mineral resources, primarily gold and precious metals.

Over the past couple of months, Phoenix’s chart has been steadily making higher lows, a sign of an uptrend forming.

Despite the technical aspects, the company’s fundamentals are worth taking a look at.

The corporation is made up of the Plumas Property and the Eldorado Property which spans roughly 24.48 hectares. Its stock is traded on the Toronto Stock Exchange under the ticker “PXA” and on the New York Stock Exchange under the ticker name “PGRCF”. For several months, the stock has outperformed the price of gold, and it only dipped little in September as gold prices continued to fall.

When gold prices fell in September, shares of Phoenix Gold rose, and they are currently consolidating in a comfortable range of 40 cents as support and 45 cents as resistance, making for what looks to be a decent entry position.

Phoenix Gold Phase 2 Drilling at York Harbour Copper-Zinc-Silver-Cobalt Project in Newfoundland

With 6 of the 9 drill holes striking huge sulfide deposits, the drilling program was effective in validating prior drilling results. And mineralization may extend beyond the historical ‘A,’ ‘G,’ and ‘H’ zones. According to sources, 100 of 300 samples collected from the core in diamond drill holes YH21-04, -06, -08, and -09 were chosen for obvious large sulfide mineralization.

Drill hole YH21-09 is particularly noteworthy because it was collared to intersect the ‘A’ zone at depth but instead encountered enormous sulfide mineralization at the bedrock surface. This intercept suggests that there is a good chance of finding more massive sulfide mineralization both along with the trend and beneath the upper mid-section of the ‘A’ zone during exploration.

Aside from field labor, the Company is considering surveying the 400 Level edit with a lidar-equipped drone, either ground-ambulatory or aerial, this field season. This survey would help in the measuring of the dimensions of the site for future drill hole placement.

While focused on acquiring access to the 400-level and sea level adits, the Company aims to continue drilling the 11 known mineralized zones and investigate potential new giant sulfide possibilities, such as the No 4 Brook showing.

This Phase 2 diamond drilling campaign aims to better identify current drill-indicated VMS mineralization for future resource estimations. It’s also looking for more analogous mineralization dow dip.

As a result, both delineation and exploration drilling will be part of the Phase 2 program. Phoenix Gold Resources is well-positioned to gain from both of these large mining operations.

Locations Where Phoenix Gold Project Company are Working

The Phoenix Gold Project, located in Battle Mountain, Nevada, is one of the world’s major gold-producing locations; and one of the world’s top mining jurisdictions. It is located within 5 kilometers of Nevada Gold Mines’ Phoenix/Fortitude open-pit mining operations (Newmont/Barrick JV). For decades, this sector has been noted for producing gold, copper, and silver.

The York Harbour Copper-Zinc-Silver Project, on the other hand, is the subject of exploration and development. The York Harbour Mine Property is about 27 kilometers west of Corner Brook, Newfoundland. And it is famed for its large sulfide resources of copper, zinc, silver, gold, and cobalt.


The drilling program for Phase 2 is expected to be finished by the end of November. Drilling lengths of 92 to 118 meters in drill hole YH21-18 and 92 to 102 meters in drill hole YH21-19 are examples of recent massive sulfide mineralization. If gold continues to perform well, and there’s not much reason to think it won’t, then Phoenix is in a very good position to capitalize on higher gold prices.


Please read our full disclaimer by clicking here​​​​​​​.  Statements regarding the Company which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as: (i) fluctuation of mineral prices; (ii) a change in market conditions; and (iii) the fact that future operational results may not be accurately predicted based on this limited information to date. Except as required by law, the Company does not intend to update any changes to such statements. Caddy Stocks believes the expectations reflected in those forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included herein should not be unduly relied upon. This article shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state., is owned by LeadGopher LLC, which is being compensated to conduct investor awareness advertising and marketing campaigns for some of the companies it profiles. This compensation should be viewed as a major conflict with our ability to be unbiased, more specifically: This communication is for entertainment purposes only. Never invest purely based on our communication. For more on trading risks read our policy statement by clicking here.