Phoenix Gold managing director Jon Price has predicted the gold price will break $2000/oz early next year.
Mr Price’s prediction came on the final day of last week’s Diggers and Dealers Mining Forum, where emerging developer Phoenix displayed a 4oz nugget in its booth.
The nugget, worth about $15,000, was found close to the surface near Catherwood open pit on the company’s Kunanalling project area, west of Kalgoorlie-Boulder.
Phoenix devoted the majority of Diggers to talking up its flagship Castle Hill project to investors as the largest WA gold discovery since Tropicana.
The company also timed the release of its maiden drilling campaign at the Telegraph prospect, which found significant mineralisation over a 1.7km strike. Drill results at Telegraph, 35km north-west of Coolgardie, include 8m at 19.68g/t Au from 136m, including 1m at 133.46g/t.
“While we are currently focussed on our flagship Castle Hill and Broads Dam gold projects, we have never lost site of the fact that the Goldfields are still highly prospective for new gold discoveries and these drill results are proof of that,” Mr Price said.