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Venezuelan gold reserves drop to five-decade low as withdrawals accelerate
From Reuters
Thursday, February 11, 2021
CARACAS -- The Venezuelan central bank's gold reserves dropped by about 12 tonnes in the last six months to a new 50-year low, according to its 2020 financial statements.
Facing a collapse in oil production and the effects of U.S. sanctions, President Nicolas Maduro's government has continued to use the sale of monetary gold as a source of income.
... Dispatch continues below ...
Great Bear Provides Detailed New Sections
and Drills Near-Surface High-Grade Gold
at LP Fault: 13.38 g/t over 18.15 Meters
Company Announcement
Monday, February 8, 2021
VANCOUVER, British Columbia, Canada -- Great Bear Resources Ltd. (TSX-V: GBR; OTCQX: GTBAF) today reported results from its ongoing 2021 exploration program at its 100% owned flagship Dixie Project in the Red Lake district of Ontario.
Chris Taylor, president and CEO of Great Bear, said, "In this release we provide highly detailed individual assay level data from shallow drill holes on one cross section at three different scales. With tighter drilling we have observed the same exceptional gold zone continuity at 25-metre drill spacing, both along strike and vertically, as we previously observed at 100–200 metre spacing.
"By the end of 2021 we are planning to have completed approximately 100 drill sections similar to the one contained in this release, consisting of over 400 drill holes in total. All this drilling is within the same continuous gold zone along more than 4 kilometres of strike length, which remains open to extension in all directions, and is present from bedrock surface.” ...
... For the remainder of the announcement:
https://greatbearresources.ca/news/great-bear-provides-detailed-new-sect...
Over the course of 2020, reserves from the central bank's vaults in Caracas fell by 19 tonnes. Withdrawals accelerated in the second half of the year, when 12 tonnes were removed.
Reserves have dropped to 86 tonnes, their lowest in 50 years, according to the notes on the bank's financial statements.
Authorities have not provided details on the destination of the gold. ...
... For the remainder of the report:
https://www.reuters.com/article/idUSL1N2KH2BW
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