Shares of gold miners proved their strength today alongside continued speculation of a potential double dip and worries over the impact of European debt contagion on the global economy. Regardless of the daily swings and market volatility, there are a number of challenges ahead for the economy. The most pressing of these obstacles is perhaps the slowing global growth and mounting debt in established nations. These factors can be expected to continue to plague the market until they are addressed and a long-term solution is reached. Until that time, gold may fluctuate with the overall market, as it did in Wednesday trading, but it will remain in demand. The mounting evidence indicates the prospect of an extended high for gold has positively impacted gold miners. The miners were sought after today by investors seeking out a safe haven during uncertain economic times. Mining stocks offer a more affordable, alternative entry point into the gold trend.
Miners were climbing on Thursday, seeming to track the metal’s strong long-term trajectory.
This trend could benefit Samaranta Mining Corporation (SAX.TSXV), which announced promising results from its 501 line kilometer Helicopter Magnetometer and Gamma Spectrometer survey on four of their properties recently. The survey yielded several areas of interest, including their Guadalupe property in Colombia.
The data, while still raw and unfiltered, prompted a preliminary surface investigation of select areas of interest and other targets. Existing data is being processed in an attempt to identify anomalies which may represent massive sulphide mineralization. Should the mineralization exist as the company expects, Samaranta’s properties have the potential to drive massive profits. This is especially true during periods of economic uncertainty like this one.
Samaranta is in the early stages of an aggressive diamond drill program of the most prospective targets. The programs are intended reveal further data regarding the company’s profit potential.
Dr. Volkmar Hable, President and CEO of Samaranta, is eager to see the interpretation of the airborne survey and how it fits with the known mineralization at Frontino. Hable has confidence in the property’s contents on the basis that the adjoining property has been mined for over 150 years, while Guadalupe is being investigated for the first time.
Should Guadalupe prove ripe for mining as Hable predicts, it would directly and categorically benefit the share prices of Samaranta.