NEW YORK, October 26, 2017 /PRNewswire/ --

Gold rose slightly on Wednesday as the U.S. dollar weakened against the euro. Gold Spot was up 0.09 percent to $1,277.73 per ounce during Wednesday's trading session. While U.S. Gold futures for December delivery increased 0.06 percent to $1,279.10 per ounce. The US Dollar Currency Index fell 0.08 percent to 93.70, as the euro rose ahead of the European Central Bank meeting on Thursday. Gold price is sensitive to the U.S. dollar, as a weaker dollar makes other currencies holders cheaper to buy dollar-denominated commodities. The yellow metal is up over 11 percent this year. Grande Portage Resources Ltd. (OTC: GPTRF), Harmony Gold Mining Company Limited (NYSE: HMY), Yamana Gold Inc. (NYSE: AUY), Kinross Gold Corporation (NYSE: KGC), Gold Standard Ventures Corp. (NYSE: GSV).

Global geopolitical uncertainties have also provided support for the price of precious metals. According to an article from CNN, a senior North Korean official said that the threat of a possible nuclear weapon test over the Pacific Ocean should be taken literally. Gold is considered as a safe-haven asset during the time of political uncertainties. In addition, investors are closely watching the clues for the selection of the next Federal Reserve Chair. Current chair Janet Yellen's term will expire in February. The Fed's schedule on rate hikes for the next year may have an impact on gold price.

Grande Portage Resources Ltd. (OTC: GPTRF) also listed on the TSX Venture Exchange under the ticker symbol "GPG". Just earlier today the company announced breaking news that, "2.64 METERS (8.7 FT) GRADING 27.93 GPT/GOLD & 6.3 METERS (20.67 FT) GRADING 7.31 GPT/GOLD, the initial drill results from the Goat Vein during the 2017 season. This part of the program consisted of eight diamond drill holes from two platforms, K and L Pads, for a total length of 1952 meters. Additional geological mapping and sampling was conducted to the east and north of the vein system.

The drilling results further validate the continuity of the Goat Vein structure over a confirmed distance of 300 metres. However, when combined with the surface mapping the new strike length has increased to 650 metres at a minimum. Importantly, the drilling also shows significant potential for the development of mineable subsidiary veins in both the hanging and footwalls of the Goat Creek structure. A summary of mineralized intervals of the drilling on the Goat Vein is shown in the table below. In addition, Hole 17L-2 returned strong silver values with the interval 164.53-166.0m showing 35.4 ppm Ag.

Ian Klassen, President of the Company remarked, "This is a terrific re-affirmation of the emerging mesothermal vein system we have at the Herbert. This results add nicely to what is a growing deposit of almost 200,000 ounces (Indicated category) already identified. Mesothermal veins are known for their large size and continuation to depth, and therefore, are a major source of the world's gold production. Veins are usually less than two meters wide and often occur in parallel sets just like we see at the Herbert deposit".

The Company will announce more results, in due course, as they are returned from the laboratory. Carl Hale, CPG, a geologist of more than 40 years' experience, will direct the field program and will act as the qualified person as that term is defined under NI 43-101." 

Harmony Gold Mining Company Limited (NYSE: HMY), a gold mining and exploration company, has operations and assets in South Africa and Papua New Guinea. On October 19th, Harmony Gold announced that it has entered into an agreement with AngloGold Ashanti Limited ("AngloGold Ashanti") to acquire its Moab Khotsong and Great Noligwa mines, together with certain long life projects and tailings dams, for a consideration of US$300 million in cash ("the Acquisition"). "Buying Moab Khotsong means we boost our cash flows by more than 60%, increase our average overall underground recovered grade by 12% and grow our South African underground resource base by 38%. The Acquisition benefits all our stakeholders," Peter Steenkamp, chief executive officer of Harmony said. 

Yamana Gold Inc. (NYSE: AUY) is a gold producer that plans to continue to build on its base through existing operating mine expansions, throughput increases, development of new mines, the advancement of its exploration properties and, at times, by targeting other gold consolidation opportunities with a primary focus in the Americas. On June 2nd, Yamana Gold announced that it has completed the previously announced secondary offering of 26,667,000 common shares (the "Brio Shares") of Brio Gold Inc. ("Brio Gold") that it owned, at a price of $3.00 per Brio Share for total gross proceeds to Yamana of C$80,001,000 (the "Offering"). 

Kinross Gold Corporation (NYSE: KGC) is gold mining company with mines and projects that focus on delivering value based on the core principles of operational excellence, balance sheet strength, disciplined growth and responsible mining. On September 19th, Kinross Gold announced an update to the Round Mountain mineral reserve and resource estimates reported in the news release titled "Kinross to proceed with Tasiast Phase Two and Round Mountain Phase W expansion projects" dated September 18, 2017. 

Gold Standard Ventures Corp. (NYSE: GSV) is an advanced stage gold exploration company focused on district scale discoveries on its Railroad-Pinion Gold Project, located within the prolific Carlin Trend. On October 25th, Gold Standard Ventures announced highly encouraging metallurgical results from continuing work designed to determine the processing characteristics of the Dark Star oxide gold deposit, on its 100%-owned/controlled Railroad Project in Nevada's Carlin Trend. Jonathan Awde, CEO and Director of Gold Standard commented: "Step by step we are increasing the value of our Railroad Project by reducing risks and establishing the viability of its gold deposits. The recovery rates in these tests are beyond our expectations."

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