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Global Underground Mining Diamond Drilling Market Expected to Exceed $660 Million by 2026

Palm Beach, FL – July 27, 2021 – Underground mining diamond drilling is the process of extracting core samples from the earth. This is an exploratory process that determines the structural strength of mineral composition for construction projects or potential mining. Diamond coring bits are majorly used in the exploration phase of the mining industry. Underground mining diamond drilling includes of diamond core drill bits, which are equipped with drilling systems, for example, rotary or wireline drilling systems. Deployment of efficient coring drilling rings in the exploration phase entails extensive capital investment. Mining companies invest significantly in installation and testing of mined samples over coring systems.   Growing the demand for base metals such as nickel, lead, copper, and zinc and precious metals for instance gold, silver, and diamond is expected to boost investments in the metal mining business. This is possible to augment the demand for diamond core drill bits that are used in underground mining of hard rocks. Diamond core drill bits are mostly employed in the exploration industry, especially for hard rocks, as the penetration of diamond bits is high regarding that of other materials.  Active stocks in the mining markets this week Clarity Gold Corp. (OTCPK: CLGCF) (CSE: CLAR), Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX), Osisko Gold Royalties Ltd (NYSE: OR) (TSX: OR), Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM), Kinross Gold Corporation (NYSE:KGC) (TSX:K).


A report from WiseGuysReports predicts that the global underground mining diamond drilling market to grow with a CAGR of 5.7% through 2025, while a report from 360iResearch were even more optimistic, saying that: “The Global Underground Mining Diamond Drilling Market size was estimated at USD 433.11 Million in 2020 and expected to reach USD 463.40 Million in 2021, at a Compound Annual Growth Rate (CAGR) 7.33% from 2020 to 2026 to reach USD 662.18 Million by 2026.”  MaximizeMarketResearch adds that: “Region-wise, North America was the largest revenue-generating region in the underground mining diamond drilling market in 2017 and is anticipated to continue its dominance in the market by 2026. In North America, US dominated the underground mining diamond drilling market. Some players in North America supply core drill bits along with complete drill rigs solutions…The market in Canada is anticipated to expand at a rapid pace in the upcoming future… Latin America is the important region of the global underground mining diamond drilling market. Increasing investments in the extraction of underground minerals is expected to augment the demand for hard rock mining in Latin America.”


Clarity Gold Corp. (CSE: CLAR) (OTC: CLGCF) BREAKING NEWS:  CLARITY GOLD ANNOUNCES COMPLETION OF DIAMOND DRILLING PROGRAMClarity Gold Corp. (“Clarity” or the “Company”) is pleased to announce the completion of 10,826 m of diamond drilling from 27 drill holes (the “Program”) at the Company’s flagship Destiny Project in the Abitibi Greenstone Belt.


The Program was completed under budget, and all samples collected have now been dispatched to the laboratory. The first batch of results from approximately 2600 m of this drilling were previously released (see Company news release dated June 16, 2021). Which included select highlight intercepts tabled below.


Table 1 Highlights from the first batch of assay results previously released on June 16, 2021.


Drillhole From (m) To (m) Width* (m) Grade (g/t)
DES21-156 329.15 334.40 5.25 3.68
including 329.70 331.80 2.10 18.64
and 331.35 331.80 0.45 32.67
DES21-157 230.50 234.95 4.45 3.79
including 230.50 231.30 0.80 20.36
DES21-160 388.00 396.00 8.00 1.57
including 391.00 392.00 1.00 4.99
including 394.00 395.00 1.00 3.68
DES21-160 435.45 436.70 1.25 4.88
DES21-161 277.50 280.15 2.65 6.97
including 278.05 279.00 0.95 15.80
DES21-162 304.00 325.00 21.00 0.98
including 319.00 321.30 2.30 4.48


The Company looks forward to updating further as results are received from the lab and interpreted.


The drill holes in this Program concentrated on infilling historic drilling in the DAC and GAP Zones, and confirmation of historic drilling which identified mineralization in these areas.


“The Company is very pleased to have completed our first significant drill program on the Destiny Project” stated CEO, James Rogers. “Our team worked diligently to complete the program as efficiently and safely as possible, while coming in well under budget. We look forward to releasing remaining results as we receive outstanding data from the laboratory and continue to build our understanding of the mineralized system.”


The Company looks forward to updating further as additional results are received and as we continue to interpret these results as we evaluate bulk tonnage and high-grade models for the Destiny Project.  CONTINUED…   Read this entire release along with tables for the Clarity Gold at:


Other recent developments in the mining markets include:


Barrick Gold Corporation (NYSE:GOLD) (TSX:ABX) recently reported preliminary Q2 sales of 1.07 million ounces of gold and 96 million pounds of copper, as well as preliminary Q2 production of 1.04 million ounces of gold and 96 million pounds of copper. We remain on track to achieve 2021 guidance, with both the Africa & Middle East and Latin America & Asia Pacific regions trending to the higher end of their regional gold guidance and North America to the lower end.


The average market price for gold in Q2 was $1,816 per ounce, while the average market price for copper in Q2 was $4.40 per pound.


Preliminary Q2 gold production was lower than Q1, with planned maintenance shutdowns at Nevada Gold Mines’ (“NGM”) processing facilities further impacted by a mechanical mill failure at Carlin’s Goldstrike roaster, as well as planned maintenance at Pueblo Viejo. The Goldstrike roaster is currently operating at a reduced rate and work to repair the mill is expected to be completed in Q3, with actions being taken to mitigate the impact on NGM’s full year production. As previously guided, Barrick’s gold production in the second half of 2021 is forecast to be higher than the first half. Q2 gold cost of sales per ounce is expected to be 2 to 4% higher, total cash costs per ounce are expected to be 1 to 3% higher and all-in sustaining costs per ounce3 are expected to be 6 to 8% higher than Q1.


Osisko Gold Royalties Ltd (NYSE: OR) (TSX: OR) recently announced that it has entered into a royalty transfer agreement with Sailfish Royalty Corp. pursuant to which Osisko has agreed to purchase an up to 2.75% net smelter return royalty on the Tocantinzinho gold project operated by Eldorado Gold Corporation for cash consideration of US$10 million.


Tocantinzinho is a permitted and construction-ready, open-pit gold project located in Para State, Brazil. The project hosts NI 43-101 compliant mineral inventory of 39Mt grading 1.42g/t gold for 1.78Moz of gold in proven and probable reserves derived from, and inclusive of 46Mt grading 1.37g/t gold for 2.03Moz of gold in the measured and indicated resource categories and 0.6Mt grading 0.90g/t gold for 17Koz of gold in the inferred resource category.


Agnico Eagle Mines Limited (NYSE: AEM) (TSX: AEM) recently provided an update on exploration activities at several projects and select mine sites. The Company’s exploration focus remains on pipeline projects, near-mine opportunities and mineral reserve and mineral resource replacement and growth. Key exploration highlights during the first half of 2021 can be found here:


Kinross Gold Corporation (NYSE:KGC) (TSX:K) recently announced that it has signed a definitive agreement (“Agreement”) with the Government of Mauritania (“Government”) to provide enhanced certainty on Tasiast economics.


The Agreement confirms the same key terms of the agreement in principle signed on June 15, 2020, including: The continuation of tax exemptions on fuel duties; The repayment by the Government to Kinross of approximately $40 million in outstanding VAT refunds; The payment by the Company to the Government of $10 million to resolve disputed matters; The introduction of an updated escalating royalty structure1 tied to the gold price that aligns with current Mauritanian mining legislation and is comparable to other royalties in the region; and The nomination of two observers by the Government to the Board of Directors of the Kinross subsidiary operating the Tasiast mine.


DISCLAIMER:  FN Media Group LLC (FNM), which owns and operates and, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels.  FNM is NOT affiliated in any manner with any company mentioned herein.  FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security.  FNM’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.  The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material.  All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks.  All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release.  FNM is not liable for any investment decisions by its readers or subscribers.  Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.   For current services performed FNM has been compensated forty five hundred dollars for news coverage of the current press releases issued by Clarity Gold Corp. by a non affiliated third party.  FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.


This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.


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