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Navigating Uncertainty: How Trump’s Tariffs Are Affecting the Gold Market

Investing 5 Mins Read

The gold price has been on the rise in 2025 as a slew of factors work in its favor.

Central bank buying has long been a key point of support, as has escalating conflict in the Middle East and elsewhere. A newer addition is tariff tensions as the Trump administration fleshes out trade policies.

The gold price has benefited from safe-haven demand amid the turmoil, but concerns that the yellow metal itself might face tariffs have also impacted the sector as industry insiders react to uncertainty.

Read on to learn how tariffs have affected the gold market and price so far.

How have tariffs affected the gold price?

The gold price has been on the rise since the beginning of the year. After briefly touching the US$3,500 per ounce level in May, it has pulled back and was trading just under US$3,400 as of Tuesday (August 26).

Gold price, January 1 to August 26, 2025.

Chart via TradingEconomics.

Although some of its increase is attributable to the points mentioned above, a significant portion is owed to a lack of information surrounding US President Donald Trump’s tariff policies.

Initially there was no clarity on what or who was being tariffed, or when the levies would ultimately be implemented, and investors started to move into gold for greater stability and portfolio diversification.

Uncertainty about whether gold would be tariffed also had an effect, prompting traders in the US to import physical gold; this created a price differential between New York futures and the London spot price.

Concerns dissipated as the Trump administration began to nail down tariffs, but were reignited once again when US Customs and Border Patrol posted a ruling on July 31 indicating that the 39 percent tariffs against imports from Switzerland would include 1 kilogram and 100 ounce gold bars.

The news caused spot gold to spike more than 3 percent, from US$3,290 to US$3,398, and sent December futures to an all-time high of US$3,549. Meanwhile, traders halted imports of Swiss bars.

After several days of turmoil, Trump said the ruling was incorrect, and the bars would not be included in the tariff measures being applied to other Swiss imports; the gold price then retreated.

How would gold tariffs have impacted the market?

Gold functions as both a commodity and an essential part of the world’s financial system.

One kilogram and 100 ounce gold bars are used to back futures trading, and regular shipments of the metal are needed to settle contracts once they come due. A 39 percent tariff on gold from Switzerland would have been particularly disruptive, as Swiss refineries account for approximately 70 percent of the world’s gold.

According to the UN Comtrade database, in 2024, Switzerland exported more than 1,400 metric tons of unwrought gold worth more than US$106 billion, representing nearly 30 percent of the country’s total exports. Tariffs would have forced US buyers to pay a significant premium for the precious metal versus buyers in London or Shanghai.

Because gold is often used as a store of value in times of uncertainty, any kind of disruption could have had broader implications for investors looking to add stability to their portfolios.

“There are psychological nuances to gold, which is commonly viewed as a safe store of value during uncertain times and an inflation hedge. Overall, the tariff would have added another facet to the already elevated policy uncertainty.’

If the tariffs had remained in place, the US gold price would have had to rise to around US$4,700 per ounce to cover levies, while international prices would have remained closer to the US$3,500 mark.

“Tariffs have already complicated supply chains across industries, and this gold tariff would have been another example of added cost and complexity — but in this case, one with the potential to more directly impact investment activities,” Saidel-Baker went on to explain, emphasizing that US investors would have felt the pinch.

Could gold tariffs happen in the future?

Given Trump’s unpredictability, especially when it comes to tariffs, it’s possible that gold levies could enter the conversation again. However, by and large experts agree that the matter is closed.

Keith Weiner, founder and CEO of Monetary Metals, offered another perspective, saying that although the gold tariff threat is over, the tumult could have long-term effects on the market.

‘Once you’ve put the scare into everybody, you can’t just say, ‘Oh, sorry, just kidding.’ You can’t really do that. And so now we’ve done damage, and we’ll see what happens to that spread over time. We’ll see how users of the futures market adapt. There are other markets in the world that would be competing for,’ he explained.

Market participants will be watching closely for future impacts on the yellow metal.

Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Crypto Market Update: ETH Funds Absorb US$1.3 Billion in Weekly Inflows, CFTC Moves to Secure DeFi Market

Investing 5 Mins Read

Here’s a quick recap of the crypto landscape for Wednesday (August 27) as of 9:00 p.m. UTC.

Get the latest insights on Bitcoin, Ethereum and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ethereum price update

Bitcoin (BTC) was priced at US$112,039, a 1 percent increase in 24 hours. Its lowest valuation of the day was US$111,198 and its highest price on Wednesday was US$112,555.

Bitcoin price performance, August 27, 2025.

Chart via TradingView.

Bitcoin has come under pressure in recent days, briefly sliding below US$110,000 amid a broader crypto sector selloff and macroeconomic uncertainty. Trading at its lowest level in seven weeks, the drop has sparked debate among investors over whether the pullback presents a buying opportunity.

Ether (ETH) was priced at US$4,569.50, down by 0.5 percent over the past 24 hours to its lowest valuation of the day. Its highest was US$4,657.28.

Altcoin price update

  • Solana (SOL) was priced at US$26.86, up by 5 percent. Its lowest valuation on Wednesday was US$203.35, and its highest valuation was US$211.54.
  • XRP was trading for US$3, down by 1.6 percent in the past 24 hours, and at its lowest valuation of the day. Its highest valuation on Wednesday was US$3.04.
  • SUI (Sui) was trading for US$3.47, down by 0.1 percent in the past 24 hours. Its lowest valuation of the day was US$3.44, and its highest level of the day was US$3.51.
  • Cardano (ADA) was priced at US$0.8629, down by 1.1 percent. Its lowest valuation for Wednesday was US$0.8571, and its highest valuation was US$0.8751.

Today’s crypto news to know

ETH inflows hit US$1.3 billion following Powell’s policy hints

ETH funds have seen a massive US$1.3 billion worth of inflows over the past week as traders respond to dovish signals from US Federal Reserve Chair Jerome Powell. Data from SoSoValue shows ETH-based exchange-traded products have absorbed US$3.7 billion since June, compared with US$900 million in outflows from Bitcoin funds.

The surge also coincides with ETH hitting a new all-time high of US$4,955 on Sunday (August 24).

Publicly listed companies joined the rush too, adding ETH to their corporate treasuries and pushing collective holdings to nearly 5 percent of total supply. That accumulation rate is running at more than twice the fastest quarterly pace Bitcoin has ever seen, according to Standard Chartered’s (LSE:STAN) Geoffrey Kendrick via DLNews.

Trump Media, Crypto.com seal US$6.4 billion CRO treasury deal

Trump Media & Technology Group shares climbed 5 percent on Tuesday (August 26) after the company confirmed a US$6.42 billion partnership with Crypto.com to launch a CRO-focused treasury vehicle.

Dubbed the Trump Media Group CRO Strategy, the new entity will be seeded with US$1 billion in CRO and its balance will be structured as an equity line for future token purchases. As part of the agreement, the company will operate a validator node on the Cronos blockchain, staking all its tokens to earn network rewards. CRO prices soared 30 percent in a single day after the announcement, even as most of the crypto market lagged.

Still, the deal has stirred controversy among token holders, as it requires reissuing 70 billion CRO previously “burned” to reduce supply, effectively inflating circulation by more than 200 percent.

CRO jumped 40 percent on the announcement and was up by over 25 percent over 24 hours at the time of writing.

Canary Capital files for first spot ETF tracking Trump meme coin

Crypto fund manager Canary Capital has submitted paperwork to launch the first spot exchange-traded fund (ETF) tied directly to US President Donald Trump’s meme coin, $TRUMP, according to a Reuters report.

Unlike earlier applications filed under the 1940 Investment Company Act, Canary’s proposal was lodged under the 1933 Securities Act, meaning the ETF would hold $TRUMP tokens outright rather than use offshore subsidiaries or cash equivalents. The application comes despite skepticism from analysts, who note that the US Securities and Exchange Commission (SEC) typically requires a futures ETF to trade for six months before approving a spot product.

The filing follows the SEC’s February announcement that meme coins fall outside its securities jurisdiction, a decision seen as aligning with the president’s pro-crypto stance.

The $TRUMP token has lost more than 70 percent of its value since launching in January. Analysts expect the SEC to rule on several meme coin ETF applications later this year.

DeFi industry coalition advocates for developer protections

The DeFi Education Fund and a coalition of more than 110 crypto companies, investors and advocacy groups sent a letter to the Senate Banking and Agriculture Committees on Wednesday, urging lawmakers to update financial rules to ensure developers and non-custodial actors are not misclassified as intermediaries. The signatories include major players in the DeFi space, such as Coinbase Global (NASDAQ:COIN), Kraken, Ripple, a16z and Uniswap Labs.

“Provide robust, nationwide protections for software developers and non-custodial service providers in market structure legislation,” the letter reads. “Without such protections, we cannot support a market structure bill.”

CFTC to integrate Nasdaq Market Surveillance platform

The Commodity Futures Trading Commission (CFTC) announced on Wednesday that it plans to integrate Nasdaq’s Market Surveillance platform, a financial surveillance tool developed by Nasdaq.

“As our markets continue to evolve and integrate new technology, it’s critical that the CFTC stays ahead of the curve,” acting CFTC Chair Caroline Pham said in a press release. “Nasdaq Market Surveillance will, for the first time, provide the CFTC with automated alerts and cross-market analytics that will benefit each of the CFTC’s operating divisions and better protect our markets from fraud, manipulation and abuse.”

The CFTC asserts that using the platform will allow the agency to more efficiently analyze market trends and spot unusual trading activity, enabling staff to take quicker action against bad actors.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

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Prismo Metals Discovers Two Separate Mineralized Veins at Silver King

Investing 10 Mins Read

(TheNewswire)

Prismo to Host Webinar on September 3rd

Vancouver, British Columbia, August 27, 2025 TheNewswire – Prismo Metals Inc. (the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to provide an update on ongoing exploration work at the Silver King mine. The exploration work currently in progress has resulted in the identification of two previously undescribed veins with mineralogical characteristics similar to those at Silver King (Fig. 1).  Preliminary analysis with a portable XRF instrument shows the mineralization contains lead, silver, copper and zinc. A first batch of samples has been submitted to the lab, with results expected in the coming weeks.

‘During reconnaissance work, we have been working on understanding the controls of mineralization at the Silver King mine,’ stated Dr. Craig Gibson, Chief Exploration Officer of the Company. ‘Two previously undescribed veins were discovered (Figure 1.), including one at a large mine dump about 300 meters south of the Silver King mine shaft. We believe this may have been the location of significant silver production. Several veins and prospect pits occur 300 meters along strike to the NE to a point near the Silver King glory hole. Of particular note, this is the first time we have observed mineralization similar to the Silver King deposit outside of the historic mine and so it provides an exciting new exploration target.’


Click Image To View Full Size

Figure 1 . The Silver King with exploration advances.  The red line represents the trace
of a quartz vein with silver-copper-lead-zinc mineralization in a previously undescribed vein.
The green line represents a quartz vein with copper mineralization with silver values.

He added: ‘The stockpile of vein materials is located above an area that was used to smelt the sulfide ore, and numerous conical shaped pieces of slag, with the pointed tips that would have contained the concentrated metals removed. Examination of a collapsed mine portal showed the presence of quartz veinlets containing sulfide minerals, mainly sphalerite, galena and tetrahedrite.’

Initial work at the Silver King project has consisted of a property wide survey of the historic mines and prospects, as well as a geochemical and alteration mineral survey around the surface expression of the Silver King deposit and other mineral occurrences. The Silver King deposit is located a few kilometers from the Resolution Copper deposit (a joint venture between Rio Tinto and BHP) and the high-grade Magma mine, a former copper and silver producer. Mineralization at Silver King is hosted by the same rock sequence that hosts the Resolution Copper deposit, but which is exposed at the surface and is not covered by the thick sequence of volcanic rocks that covers Resolution Copper.

Prismo plans to complete the current exploration program in September and conduct a preliminary exploration drill program upon obtaining its drill permit. The Company has submitted a plan of operations for the drill program with the Forest Service. Work is ongoing to further define the controls on mineralization at the historic mine. It is also expected that access to the historic workings on the 114 level of the mine will be achieved shortly.

‘Having toured the Silver King mine site (along with the Ripsey mine) with Chief Exploration Officer Craig Gibson in early August, the prevalence and scale of the historic and current producing mines in the district was truly impressive,’ stated Gordon Aldcorn, President. ‘Acquiring a past producing mine with virtually no modern exploration in such close proximity to other world class deposits is a rare opportunity for Prismo Metals.’

On July 4, 2025, the Company announced that it had signed option agreements to acquire 100% interest in the Silver King and Ripsey mines — both historic high-grade precious and base metal mines located in Arizona’s prolific Copper Belt near its flagship Hot Breccia project.  A crew led by Dr. Craig Gibson, Chief Exploration Officer of the Company, has been working at the project since Aug 4.


Click Image To View Full Size

Figure 2 . Top image , vein fragments from newly recognized target.
Bottom image , cone of slag with tip removed.

Webinar

Prismo is pleased to invite investors and other interested parties to attend the Company’s upcoming live webinar presentation, audience Q&A and interview.

CEO Alain Lambert and Chief Exploration Officer Dr. Craig Gibson will discuss Prismo’s three advanced-stage exploration projects.

The webinar will be a live, interactive online event where attendees can ask the presenters questions in real time. A recording will be available for those who cannot join the live event.

Event : Radius Research Pitch, Deep Dive, and Q&A with Prismo Metals Inc.

Presentation Date & Time : Wednesday, September 3rd @ 4 PM ET / 1 PM PT

Webcast Registration Link: https://us02web.zoom.us/webinar/register/6817562353172/WN_VYgFeEN9QQqfctchdJ4ACQ

This webinar will be hosted by Radius Research, giving individual investors access to in-depth CEO interviews with deep-dive institutional-level discussion and Q&A. Radius Research is part of Market Radius Capital, Inc. and hosted by Martin Gagel, a former top-ranked sell-side technology and special situations analyst.

About Silver King

Discovered in 1875, the Silver King mine is one of Arizona’s most important historical producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t. Selected samples from small-scale production in the late 1990s returned historical grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t). Additionally, the presence of freibergite (AgCuSbS) suggests a potential for antimony, a critical mineral with growing strategic demand.

Strategic Location

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and recognized as one of the world’s largest unmined copper deposits. (1) This unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside.

The Silver King mine was discovered in 1875 and produced as much as 10,000 ounces per ton silver in near surface workings. (2) Underground production through 1889 is estimated at almost 6 million ounces of silver at grades of between 61 and 21 ounces per ton. During a second period of production from 1918 to 1928, 230,000 ounces were produced at a grade of 18.7 ounces per ton.  No significant production has occurred after 1928.

Silver King is a steeply west-dipping pipelike stockwork and breccia zone that was mined on eight levels to about 300 meters depth below a glory hole at the surface. The pipe is described as a dense stockwork with local breccia zones and a quartz core, and that due to variations in mineralogy, much of the upper portion of the body has not been mined (3) . The current owners from whom the Company has optioned the project rehabilitated the main shaft in the late 1990s, opened the upper levels of the mine and produced a small tonnage. Assay certificates from this period show selected samples with 400 to 600 ounces per ton silver with 0.2-0.5 oz/t gold and some base metals. Virtually no modern exploration has been carried out at the mine providing significant exploration upside and multiple drill targets.

With respect to the Resolution deposit, the QP has been unable to verify the information, and the information is not necessarily indicative to the mineralization on the Silver King property.

(1) https://resolutioncopper.com/about-us/

(2) Galbraith, F, 1935, Geology of the Silver King area, Superior, Arizona, Univ. of Arizona thesis, 153p plus plates.

(3) Blake, W.P., 1883, Description of the Silver King Mine, Arizona, New Haven, 48p plus plates.

Qualified Person

Dr. Craig Gibson, PhD., CPG., a Qualified Person as defined by NI-43-01 regulations and Chief Exploration Officer and a director of the Company, has reviewed and approved the technical disclosures in this news release. The historic data presented in this press release was obtained from public sources, should be considered incomplete and is not qualified under NI 43-101, but is believed to be accurate. The Company has not verified the historical data presented and it cannot be relied upon, and it is being used solely to aid in exploration plans.

(4) https://resolutioncopper.com/about-us/

(5) Briggs, D. 2015, Superior, Arizona: An old mining camp with many lives, Ariz. Geol Survey Contributed Report CR-15-D, 13p.

About the Silver King mine

Discovered in 1875, the Silver King mine was one of Arizona’s most important historic producers, yielding nearly 6 million ounces of silver at grades of up to 61 oz/t.  No significant production has occurred after 1928.

The Silver King mine sits only 3 km from the main shaft of the Resolution Copper project — a joint venture between Rio Tinto and BHP and one of the world’s largest unmined copper deposits, and just over 600m from the historic Magma mine deposit. The unique land position is fully surrounded by Resolution Copper’s claim block, offering strategic upside. Selected samples from small-scale production in the late 1990s returned grades as high as 644 oz/t silver (18,250 g/t) and 0.53 oz/t gold (15 g/t), indicating that high-grade mineralization remains.

About Prismo Metals Inc.

Prismo (CSE: PRIZ,OTC:PMOMF) is a mining exploration company focused on advancing its Silver King, Ripsey and Hot Breccia projects in Arizona and its Palos Verdes silver project in Mexico.

Please follow @PrismoMetals on , , , Instagram , and

Prismo Metals Inc.

1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6

Phone: (416) 361-0737

Contact:

Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com

Gordon Aldcorn, President gordon.aldcorn@prismometals.com

Cautionary Note Regarding Forward-Looking Information

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things: the timing, costs and results of drilling at Hot Breccia.

These forward‐looking statements involve numerous risks and uncertainties, and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things: delays in obtaining or failure to obtain appropriate funding to finance the exploration program at Silver King.

In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that: the ability to raise capital to fund the drilling campaign at Silver King and the timing of such drilling campaign.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

Copyright (c) 2025 TheNewswire – All rights reserved.

News Provided by TheNewsWire via QuoteMedia

This post appeared first on investingnews.com

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Group Eleven Drills 6.2m of 312 g/t Ag and 0.95% Cu, incl. 2.8m of 549 g/t Ag and 1.77% Cu in a 90m Step-Out, Further Supporting Deeper Cu-Ag Target at Ballywire

Investing 13 Mins Read

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) (‘Group Eleven’ or the ‘Company’) is pleased to announce the latest three step-out drill holes from the discovery horizon at its Ballywire discovery (‘Ballywire’) at the 100%-owned PG West Project (‘PG West’), Republic of Ireland. Drilling at Ballywire’s deeper, Cu-Ag target (100-200m below discovery horizon) is in progress (to be reported as soon as possible).

Highlights:

  • 25-3552-37 (90m step-out NE of 25-3552-35, hosting widest intercept to date; announced 02-Jul-25) intersected intermittent mineralization over a 185m-long interval, including:

    • Cu-Ag Intercept (hosted in Ballysteen Limestone, beneath Waulsortian Limestone)

      • 6.2m of 312 g/t Ag and 0.95% Cu (starting from 303.9m downhole), including

      • 2.8m of 549 g/t Ag and 1.77% Cu, including

      • 0.3m (30cm) of 2,470 g/t Ag and 5.87% Cu

    • Zn-Pb-Ag Intercepts (hosted within Waulsortian Limestone)

      • 4.9m of 5.2% Zn+Pb (4.0% Zn and 1.2% Pb), 45 g/t Ag (starting from 125.9m), including

      • 0.1m (14cm) of 65.1% Zn+Pb (46.4% Zn and 18.7% Pb), 654 g/t Ag

  • 25-3552-36 (90m step-out SE of the above hole), intersected intermittent mineralization over a 38m-long interval, including:

    • 2.8m of 231 g/t Ag and 0.85% Cu, including

    • 0.2m (16cm) of 3,820 g/t Ag and 12.60% Cu (among highest Ag/Cu assays in Ireland)

  • 25-3552-34 (35m step-out NNW of the above hole), intersected intermittent mineralization over 16m-long interval, including 1.9m of 59 g/t Ag and 0.75% Cu

  • These results extend the strike length of Ballywire’s main discovery corridor by 135m from 1,300m to 1,435m, while further emphasising Cu-Ag potential at depth

  • This corridor is hosted within a larger 2.6km long trend of robust mineralization pierced by drilling to date at Ballywire, along a prospective trend of over 6km (defined by four regional gravity-high anomalies, only one of which has been systematically drill tested to date)

  • The Company’s ‘deeper Cu-Ag’ target (100-200m below the Zn-Pb-Ag horizon) is currently being drill tested with two holes completed and a third hole in progress

  • Three rigs are turning at Ballywire with approx. 5,700m of drilling completed year-to-date; Group Eleven aims to complete a further approx. 25,000m of drilling by end of 2026 (fully funded)

‘Today’s results expand our main discovery corridor by 135m and add to growing evidence suggesting a deeper Cu-Ag horizon one to two hundred metres below Ballywire’s current discovery horizon,’ stated Bart Jaworski, CEO. ‘This deeper target is currently being drilled, with two holes finished and a third started. We look forward to releasing these results as soon as assays are available. With three rigs turning each on excellent targets at Ballywire, a fourth rig likely to be added soon and a recently announced strengthened cash position now totalling C$8.4 million, Group Eleven is poised to keep generating shareholder value through the drill bit for the foreseeable future.’

Exhibit 1. Plan Map of Main Ballywire Discovery Corridor, Showing Holes 25-3552-34, -36 and -37

Note: For brevity, drill holes are labelled by the last two digits of their identification number (e.g. ‘-40’ means 25-3552-40)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_002full.jpg

Exhibit 2. Long-Section: Ballywire Cu-Ag Intercepts to Date vs. Deeper Cu-Ag Target

Note: In order to highlight Cu-Ag mineralization, the Zn-Pb-Ag bearing zones are not shown on the section; * ‘LLS’ means Lower Limestone Shale which is known to host Cu-Ag mineralization in the vicinity (5-45km) of Ballywire; ‘Deeper Cu-Ag Target’ is hosted predominantly by the LLS, but also by other lithologies between the Waulsortian Limestone and the LLS; LLS is believed to be approx. 100-200m below the Waulsortian Limestone

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_003full.jpg

Ballywire Drill Update

The Ballywire prospect at the Company’s 100%-owned PG West Project in Republic of Ireland, represents the most significant mineral discovery in Ireland in over a decade. First announced in Sept-2022, the discovery has 56 holes drilled and reported by Group Eleven to date, including the most recent three holes (25-3552-34, -36 and -37) reported today (see Exhibits 1 to 4).

Today’s results add further evidence that the mineralized trend at Ballywire continues further east towards G11-3552-08. One of the Company’s three rigs is now drilling a fence of holes collared 200m east of this hole (see Exhibit 1), testing for the further continuation of the mineralized trend. A second rig is drilling a fence of holes testing for the deeper Cu-Ag target (within the Lower Limestone Shale) with two holes completed and the third recently started (see ‘-40’ in Exhibit 1, and ’25-3552-40′ in Exhibit 2). A third rig is drilling along the section of holes containing G11-468-01 and 00-468-5 (see Exhibit 1) to test for a SW continuation of high-grade mineralization. The Company plans to soon add a fourth rig at Ballywire, geared towards reconnaissance drilling further outboard of the current mineralized corridor. Meanwhile, two holes located 1.3km to the ENE (near gravity anomaly ‘D’; see Exhibit 3) were recently completed (assays pending), with follow up drilling planned upon receipt of a second drill permit (recently submitted) which would allow for more flexibility on drill locations further to the NE.

Exhibit 3. Regional Gravity Map Showing 6km Long Prospective Trend at Ballywire

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_004full.jpg

Note: Of the four gravity-high anomalies above, only the ‘C’ anomaly has been systematically drilled to date

Assays from today’s drill holes are summarized above (see Exhibit 4). Mineralization consists predominantly of sphalerite, galena and pyrite, with the Cu-Ag bearing zones also containing chalcopyrite and suspected tennantite-tetrahedrite. Substantial Cu-Ag mineralization in 25-3552-37 is located within the Ballysteen Limestone, in contrast to 25-3552-35, where a strong Cu-Ag interval occurs at the base of the Waulsortian Limestone. Varying lithologies hosting Cu-Ag mineralization suggest a dynamic and potentially robust mineralizing system with respect to copper and silver.

Exhibit 4. Summary of Assays from 25-3552-37, -36 and -34 at Ballywire

Item From
(m) 		To
(m) 		Int
(m) 		Zn
(%) 		Pb
(%) 		Zn+Pb
(%) 		Ag
(g/t) 		Cu
(%)
25-3552-37 124.88 310.10 185.22 0.43 0.18 0.61 15.7 0.05
Incl. 124.88 132.60 7.72 2.75 0.81 3.55 30.4 0.01
Incl. 124.88 125.99 1.11 6.20 2.39 8.59 90.4 0.02
And 125.85 132.60 6.75 3.08 0.92 4.00 33.5 0.01
Incl. 125.85 130.72 4.87 3.97 1.19 5.16 44.6 0.01
Incl. 125.85 125.99 0.14 46.40 18.70 65.10 654.0 0.08
And 127.85 132.60 4.75 3.00 0.74 3.74 28.1 0.01
Incl. 127.85 130.72 2.87 4.45 1.10 5.54 43.5 0.01
Incl. 127.85 128.78 0.93 6.37 1.42 7.79 64.6 0.01
And 129.78 130.72 0.94 7.21 1.91 9.12 68.4 0.02
And 151.70 164.80 13.10 1.32 0.17 1.48 6.1 0.00
Incl. 161.00 163.85 2.85 2.70 0.61 3.31 15.7 0.01
And 173.17 177.74 4.57 0.53 0.25 0.78 2.3 –
And 182.25 183.16 0.91 0.94 0.09 1.02 0.7 –
And 190.50 193.10 2.60 0.72 0.05 0.77 0.4 –
And 198.40 200.32 1.92 0.92 0.31 1.23 2.2 –
And 203.10 206.80 3.70 0.61 0.16 0.77 2.7 –
And 210.40 234.97 24.57 0.76 0.19 0.95 4.4 –
Incl. 219.90 234.97 15.07 0.91 0.25 1.16 5.3 –
Incl. 219.90 220.90 1.00 3.22 0.49 3.71 16.7 0.02
And 243.20 258.90 15.70 0.21 0.30 0.51 16.9 0.06
Incl. 250.15 251.80 1.65 0.36 0.39 0.75 104.8 0.45
And 264.35 266.10 1.75 0.08 0.08 0.17 17.5 0.01
And 295.30 300.75 5.45 0.07 0.37 0.44 17.1 0.20
And 303.90 310.10 6.20 0.07 1.29 1.36 311.7 0.95
Incl. 303.90 306.70 2.80 0.13 0.09 0.22 549.0 1.77
Incl. 305.40 306.70 1.30 0.24 0.06 0.30 1,104.6 3.25
Incl. 306.40 306.70 0.30 0.39 0.10 0.49 2,470.0 5.87
25-3552-36 239.96 278.35 38.39 0.34 0.26 0.60 2.0 –
Incl. 244.88 251.68 6.80 1.01 0.29 1.30 3.5 –
Incl. 248.76 250.72 1.96 1.86 0.50 2.37 5.1 –
And 261.31 268.84 7.53 0.53 0.94 1.47 4.8 0.02
Incl. 262.20 264.96 2.76 1.06 1.79 2.85 9.1 0.04
And 305.02 307.81 2.79 0.40 0.06 0.46 231.0 0.85
Incl. 305.74 305.90 0.16 1.58 0.25 1.82 3,820.0 12.60
Incl. 305.90 306.82 0.92 0.50 0.06 0.56 30.0 0.28
25-3552-34 205.50 205.60 0.10 8.07 0.28 8.35 38.9 0.06
And 232.22 248.29 16.07 0.15 0.12 0.27 8.0 0.09
Incl. 241.47 247.82 6.35 0.12 0.24 0.36 18.1 0.23
Incl. 244.53 246.43 1.90 0.25 0.64 0.89 59.2 0.75
Incl. 245.44 246.43 0.99 0.23 0.36 0.59 87.1 1.00

 

Note: True thickness of the mineralized interval in holes 25-3552-37, -36 and -34, as a percentage of the down-hole interval, is estimated to be 70-80%, 90-100% and 90-100% respectively; ‘-‘ means equal to or less than 0.01% (

Drilling at Ballywire continues with three rigs. Currently, twelve (12) new holes are completed or near completed (and in the process of being logged, sampled and assayed). Nine (9) of these are shown in Exhibit 1, with two other holes near gravity-high anomaly ‘D’ (located 1.3km to the ENE) and one hole collared approx. 200m NNW of G11-468-01 (see Exhibit 1).

Exhibit 5. Regional Map of Ballywire Discovery and Surrounding Prospects

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5685/264236_1b221f02341a2967_005full.jpg

Notes to Exhibit 5: (a) Pallas Green MRE is owned by Glencore (see Glencore’s Resources and Reserves Report dated December 31, 2024); (b) Stonepark MRE: see the ‘NI 43-101 Independent Report on the Zinc-Lead Exploration Project at Stonepark, County Limerick, Ireland’, by Gordon, Kelly and van Lente, with an effective date of April 26, 2018, as found on SEDAR; and (c) the historic estimate at Denison was reported by Westland Exploration Limited in ‘Report on Prospecting Licence 464’ by Dermot Hughes dated May, 1988; the historic estimate at Gortdrum was reported in ‘The Geology and Genesis of the Gortdrum Cu-Ag-Hg Orebody’ by G.M. Steed dated 1986; and the historic estimate at Tullacondra was first reported by Munster Base Metals Ltd in ‘Report on Mallow Property’ by David Wilbur, dated December 1973; and later summarized in ‘Cu-Ag Mineralization at Tullacondra, Mallow, Co. Cork’ by Wilbur and Carter in 1986; the above three historic estimates have not been verified as current mineral resources; none of the key assumptions, parameters and methods used to prepare the historic estimates were reported and no resource categories were used; significant data compilation, re-drilling and data verification may be required by a Qualified Person before the historic estimates can be verified and upgraded to be compliant with current NI 43-101 standards; a Qualified Person has not done sufficient work to classify them as a current mineral resource and the Company is not treating the historic estimates as current mineral resources. ‘Rathdowney Trend’ is the south-westerly projection of the Rathdowney Trend, hosting the historic Lisheen and Galmoy mines.

Qualified Person

Technical information in this news release has been approved by Professor Garth Earls, Eur Geol, P.Geo, FSEG, geological consultant at IGS (International Geoscience Services) Limited, and independent ‘Qualified Person’ as defined under Canadian National Instrument 43-101.

Sampling and Analytical Procedures

All core drilled at Ballywire is NQ (47.6mm) and is cut using a rock saw. Sample intervals vary between 0.10m to 1.28m with an average (over 285 samples) of 0.91m. The half-core samples are bagged, labelled and sealed at Group Eleven’s core store facility in Limerick, Ireland. Selected sample bags are examined by the Qualified Person. Transport is via an accredited courier service and/or by Group Eleven staff to ALS Laboratories in Loughrea Co. Galway, Ireland. Sample preparation at the ALS facility comprises fine crushing 70%

Quality Assurance/Quality Control (QA/QC) Information

Group Eleven inserts certified reference materials (‘CRMs’ or ‘Standards’) as well as blank material, to its sample stream as part of its industry-standard QA/QC programme. The QC results have been reviewed by the Qualified Person, who is satisfied that all the results are within acceptable parameters. The Qualified Person has validated the sampling and chain of custody protocols used by Group Eleven.

About Group Eleven Resources

Group Eleven Resources Corp. (TSXV: ZNG,OTC:GRLVF) (OTCQB: GRLVF) (FSE: 3GE) is drilling the most significant mineral discovery in the Republic of Ireland in over a decade. The Company announced the Ballywire discovery in September 2022, demonstrating high grades of zinc, lead, silver, copper, germanium and locally, antimony. Key intercepts to date include:

  • 10.8m of 10.0% Zn+Pb and 109 g/t Ag (G11-468-03)

  • 10.1m of 8.6% Zn+Pb and 46 g/t Ag (G11-468-06)

  • 10.5m of 14.7% Zn+Pb, 399 g/t Ag and 0.31% Cu (G11-468-12)

  • 11.2m of 8.9% Zn+Pb and 83 g/t Ag (G11-3552-03)

  • 29.6m of 10.6% Zn+Pb, 78 g/t Ag and 0.15% Cu (G11-3552-12) and

  • 11.8m of 11.6% Zn+Pb, 48 g/t Ag (G11-3552-18)

  • 15.6m of 11.6% Zn+Pb, 122 g/t Ag and 0.19% Cu (G11-3552-27)

  • 12.0m of 1.4% Zn+Pb, 560 g/t Ag, 2.30% Cu and 0.17% Sb (25-3552-31), including

  • 6.4m of 2.1% Zn+Pb, 838 g/t Ag, 3.72% Cu and 0.27% Sb (25-3552-31)

  • 39.7m of 9.5% Zn+Pb, 131 g/t Ag and 0.27% Cu (25-3552-35)

Ballywire is located 20km from Company’s 77.64%-owned Stonepark zinc-lead deposit1, which itself is located adjacent to Glencore’s Pallas Green zinc-lead deposit2. The Company’s two largest shareholders are Michael Gentile (14.2%) and Glencore Canada Corp. (14.1% interest). Additional information about the Company is available at www.groupelevenresources.com.

ON BEHALF OF THE BOARD OF DIRECTORS
Bart Jaworski, P.Geo.
Chief Executive Officer

E: b.jaworski@groupelevenresources.com | T: +353-85-833-2463
E: j.lau@groupelevenresources.com | T: 604-781-4915

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Information

Technical and scientific information disclosed from neighbouring properties does not necessarily apply to the current project or property being disclosed. This press release contains forward-looking statements within the meaning of applicable securities legislation. Such statements include, without limitation, statements regarding the future results of operations, performance and achievements of the Company, including the timing, content, cost and results of proposed work programs, the discovery and delineation of mineral deposits/resources/ reserves and geological interpretations. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward looking statements as a result of various factors, including, but not limited to, variations in the nature, quality and quantity of any mineral deposits that may be located. All of the Company’s public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.

________________________
1 Stonepark MRE is 5.1 million tonnes of 11.3% Zn+Pb (8.7% Zn and 2.6% Pb), Inferred (Apr-17-2018)
2 Pallas Green MRE is 45.4 million tonnes of 8.4% Zn+Pb (7.2% Zn + 1.2% Pb), Inferred (Glencore, Dec-31-2024)

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/264236

News Provided by Newsfile via QuoteMedia

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White House demands all Gaza hostages return home ‘this week’ amid stalled talks

Politics 4 Mins Read

White House special envoy Steve Witkoff said he is pushing for all hostages held in the Gaza Strip to be returned this week, though negotiations with Hamas still appear to be at an impasse. 

‘We adamantly want, and I’m following the president’s direction here when I say this, all of those hostages home this week,’ Witkoff told Fox News’ Bret Baier on ‘Special Report’ Tuesday night. 

‘There’s been a deal on the table for the last six or seven weeks that would have released 10 of the hostages out of the 20 who we think are alive,’ he said, noting that he believes Hamas is ‘100%’ to blame for the hold-up.

‘It was Hamas who slow played that process, and it is Hamas now who is saying we accept that deal,’ Witkoff added.

Witkoff did not go into detail on what specifically is holding up the return of the hostages who have been held captive in the Gaza Strip for nearly two years following the Oct. 7, 2023, attack on Israel. 

But reports on Tuesday suggested the Israeli security cabinet refused to review a deal that would see the partial release of hostages and Witkoff confirmed the ‘official position’ of Jerusalem is a full return of hostages or no ceasefire deal as it pushes forward with its plans to take Gaza City. 

In a statement to Fox News Digital on Wednesday, the Hostages and Missing Families Forum, a group that represents the families of the hostages, said it is ‘hopeful that with this deal on the table, we will finally see our loved ones return.’ 

‘Time is running out, and we know that only by finalizing this deal can we bring all 50 hostages home – those who are alive to begin their healing journey, and those who were tragically lost to receive a dignified burial,’ it added.  ‘We have no time left – let’s make this deal happen now.’

But the forum also issued a public statement on Tuesday after reports said Israel refused to review a partial return deal, and said, ‘It is deeply disappointing that on the very day when masses of Israelis take to the streets demanding the return of all hostages and an end to the war, the government continues to delay progress on the agreement, contrary to the people’s will.’ 

A demonstration of some 350,000 people took place in Israel’s Hostage Square in Tel Aviv on Tuesday night, according to the Forum, just days after another massive protest took to the streets of Tel Aviv, in which the families of the hostages and supporters again called on Israeli Prime Minister Benjamin Netanyahu to reach a deal with Hamas. 

Witkoff argued that there can be negotiations after the hostages are returned for ‘what next day… looks like in Gaza after this is all done and what the definition of Hamas is’ – suggesting these issues remain major hurdles as Israel has repeatedly vowed the complete destruction of Hamas.

The special envoy said it wasn’t his ‘call’ to say whether the terrorist network should be completely destroyed, but noted there was room for negotiations in returning the hostages as Palestinian prisoners would also be swapped in exchange. 

Fifty hostages continue to be held by Hamas, only 20 of whom are assessed to still be alive. 

President Donald Trump on Monday predicted there would be a ‘conclusive’ end to the war in Gaza within the next ‘two to three weeks,’ though he did not say how this would be accomplished. 

The Forum responded to the pronouncement and said, ‘We pray this is true and that you gave a deadline to end our suffering. You have committed directly to released hostages that you will bring all of the hostages home – now is the time to make that happen.’ 

Witkoff also said Trump would be hosting a meeting at the White House on Wednesday to discuss a ‘day after’ plan for Gaza, though it is unclear who will take part in this meeting. 

When pressed for details on the meeting, a White House official told Fox News Digital, ‘President Trump has been clear that he wants the war to end, and he wants peace and prosperity for everyone in the region. The White House has nothing additional to share on the meeting at this time.’

This post appeared first on FOX NEWS

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Trump asks SCOTUS to uphold freeze on billions in USAID payments

Politics 3 Mins Read

Lawyers for the Trump administration filed an emergency appeal to the Supreme Court on Tuesday night asking the justices to halt a lower court injunction and allow it to freeze billions in foreign aid spending previously allocated by Congress — kicking the issue of USAID funding back to the high court for the second time in roughly six months.

At issue is nearly $12 billion in funding allocated to the U.S. Agency for International Development (USAID), and owed by the end of the fiscal year in September. The majority of those funds were axed by President Donald Trump almost immediately after taking office, under the broader mantle of slashing foreign aid and eliminating so-called ‘waste, fraud, and abuse.’  

U.S. Solicitor General D. John Sauer told the Supreme Court in an emergency filing Tuesday that, absent intervention from the high court, the Trump administration would be forced to ‘rapidly obligate some $12 billion in foreign-aid funds’ owed by September 30, or the end of the fiscal year.

Those payments have been held up in court for months, after President Donald Trump signed an executive order on his first day back in office in January seeking to block nearly all foreign aid spending, as part of his administration’s broader crackdown on waste, fraud, and abuse.

That order was blocked by a federal judge in D.C. earlier this year. That judge, U.S. District Judge Amir Ali, ordered the Trump administration to resume payments on billions of dollars in funding for USAID projects that were previously approved by Congress. 

That order was overturned this month by the U.S. District Court of Appeals for the D.C. Circuit, which ruled 2-1 to vacate the lower court injunction.

The appeals court partly vacated Judge Ali’s injunction, rejecting a request from foreign aid groups that had sought to restore the grant payments. The 2-1 majority also ruled that the plaintiffs failed to show Trump had acted ‘plainly’ in excess of his executive branch authorities.

Writing for the majority, Judge Karen L. Henderson, a President George H.W. Bush appointee, said that the plaintiffs lacked the proper cause of action to sue the Trump administration over its decision to withhold the funds, or what is known as impoundment.

But the appeals court has not yet issued a mandate to enforce that ruling — meaning that, for now, the judge’s order, and the payment schedule he previously laid out — remains in place.

Sauer argued in the emergency Supreme Court appeal that the foreign aid groups, which sued the Trump administration this year in order to claw back some of the grant money, have no legal authority to challenge the executive branch on the matter, which is technically under the legal jurisdiction of the Impoundment Control Act.

‘Congress did not upset the delicate interbranch balance by allowing for unlimited, unconstrained private suits,’ Sauer wrote. ‘Any lingering dispute about the proper disposition of funds that the President seeks to rescind shortly before they expire should be left to the political branches, not effectively prejudged by the district court.’

Plaintiffs, for their part, have argued that the executive branch lacks the authority to unilaterally withhold already-appropriated funds, under the Impoundment Control Act (ICA), as well as the Administrative Procedure Act.

The Supreme Court previously ruled 5-4. 

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Bill Gates met with Trump to talk ‘importance of US global health programs and health research’: spox

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Microsoft co-founder Bill Gates went to the White House on Tuesday for a meeting with the president, according to a Gates spokesperson.

In a statement obtained by Fox News Digital, the spokesperson noted, ‘Bill met with the president to discuss the importance of U.S. global health programs and health research that is necessary to save lives, protect Americans’ health, and preserve U.S. leadership in the world.’

Fox News Digital reached out to the White House for comment on Wednesday.

Prior to the president’s inauguration for his second term, Wall Street Journal Editor-in-Chief Emma Tucker asked the mega-wealthy figure whether he had met with Trump since Trump’s victory in the 2024 presidential contest. 

Gates said that they had a ‘quite intriguing dinner,’ noting that it lasted more than three hours. 

An individual who Gates explained ‘helps manage things for me’ was also present, as well as Susie Wiles, Gates added.

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CDC Director Susan Monarez refuses to be fired as other officials call it quits

Politics 5 Mins Read

Longtime government scientist Susan Monarez is refusing to leave her position as director of the Centers for Disease Control and Prevention (CDC) after the Department of Health and Human Services (HHS) announced she had been removed from the role less than a month after she was sworn in.

Attorneys Mark Zaid and Abbe Lowell said they are representing Monarez and claimed she ‘has neither resigned nor yet been fired.’

The attorneys released a statement on social media, claiming HHS and Secretary Robert F. Kennedy Jr. are weaponizing public health for political gain and putting millions of American lives at risk. 

‘When CDC Director Susan Monarez refused to rubber-stamp unscientific, reckless directives and fire dedicated health experts, she chose protecting the public over serving a political agenda,’ the statement said. ‘For that, she has been targeted. Dr. Monarez has neither resigned nor received notification from the White House that she has been fired, and as a person of integrity and devoted to science, she will not resign.’

The Washington Post reported that sources within the CDC, who spoke on the condition of anonymity, said HHS leaders, including Kennedy, sought to get Monarez to commit to rescinding approvals for certain COVID-19 vaccines. When Monarez did not immediately commit, she was told by administration officials that she must resign or she would be fired. 

Sources also claimed she then attempted to involve the chairman of the Senate’s top health committee, Sen. Bill Cassidy, R-La. The move reportedly further angered Kennedy. 

When reached for comment, a spokesperson for the HHS directed Fox News Digital to the agency’s response shared on its official X account.

‘Susan Monarez is no longer director of the Centers for Disease Control and Prevention,’ HHS said. ‘We thank her for her dedicated service to the American people. Secretary Kennedy has full confidence in his team at the CDC who will continue to be vigilant in protecting Americans against infectious diseases at home and abroad.’

The White House confirmed to Fox News Digital that Monarez was being removed.

‘As her attorney’s statement makes abundantly clear, Susan Monarez is not aligned with the President’s agenda of Making America Healthy Again,’ White House spokesman Kush Desai said in a statement. ‘Since Susan Monarez refused to resign despite informing HHS leadership of her intent to do so, the White House has terminated Monarez from her position with the CDC.’

Monarez was tapped by the Trump administration to lead the CDC after its initial nominee, Dave Weldon, withdrew from contention in March amid fears he might not garner enough support in the Senate to be confirmed. Shortly after Weldon stepped down, Monarez was formally nominated to be the CDC’s permanent director and was eventually confirmed in the final week of July.

During Monarez’s confirmation hearing, she expressed support for vaccines and told lawmakers she has ‘not seen a causal link between vaccines and autism.’

 

Prior to Monarez’s Senate confirmation, CDC directors did not typically require Senate approval, but that changed in 2022 when Congress passed a law making it necessary. Monarez was the first-ever Senate-confirmed CDC director in the agency’s history.

Monarez was also the first CDC director without a medical degree in more than seven decades. However, she does hold a Ph.D. in microbiology and immunology.

After getting her doctorate, Monarez entered the federal government, where she found herself in roles at the White House’s Office of Science and Technology Policy, the National Security Council, the Department of Homeland Security and the Advanced Research Projects Agency for Health (ARPA-H). Her biography on the CDC’s website says she worked on ‘leading efforts to enhance the nation’s biomedical innovation capabilities, including combating antimicrobial resistance, expanding the use of wearables to promote patient health, ensuring personal health data privacy, and improving pandemic preparedness.’

Hours after the news that Monarez would no longer head the CDC, sources confirmed to Fox News Digital that at least three other top CDC officials tendered their resignations, including the CDC’s director of its National Center for Immunization and Respiratory Diseases, Demetre Daskalakis; the director of the National Centers for Emerging and Zoonotic Infectious Disease, Dr. Daniel Jernigan; and the CDC’s chief medical officer, Debra Houry.

Daskalakis posted his lengthy resignation letter on X, citing various reasons for his departure, including ‘the views’ of Secretary Kennedy and his staff. 

Daskalakis said he could not continue to work in an administration that treats the CDC ‘as a tool’ to establish policies that ‘do not reflect scientific reality.’ He specifically cited recent changes Kennedy’s HHS has brought to vaccine scheduling for children and adults, arguing it ‘threaten[s] the lives of the youngest Americans and pregnant people.’ 

The former CDC director also cited the administration’s efforts to ‘erase transgender populations, cease critical domestic and international HIV programming, and terminate key research.’   

Fox News’ David Lewkowict contributed to this report.

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Is Trump considering bold Africa play to push back on China, Russia and Islamic terrorists?

Politics 5 Mins Read

President Donald Trump is reportedly working on a move that would give the U.S. a new military and economic foothold in Africa, counter China and Russia and strike a blow against Islamist terrorists in the region. And now a leading senator has told Fox News Digital this goal can be realized by recognizing the breakaway Somaliland as an independent state.

Somaliland, on the southern coast of the Gulf of Aden, broke away from Somalia in 1991. Its government is said to be offering the U.S. a new air and sea base close to the entrance of the Red Sea, and directly across from Yemen and the Houthis, if the U.S. formally recognizes it, 30% of the world’s container ship traffic is reported to pass through its waters en route to or from the Suez Canal.

In the Oval Office on Aug. 8, Trump told reporters, ‘We’re looking into that right now,’ when asked about the recognition of Somaliland and the possible resettlement of Gazans there, adding, ‘We’re working on that right now, Somaliland’. 

The chairman of the Senate Foreign Relations Subcommittee on Africa, Sen. Ted Cruz, R-Texas., told Fox News Digital, ‘There is a very real opportunity that President Trump will recognize Somaliland during this administration.’

Cruz added, ‘President Trump is bringing a new era of clarity in American national security, after four years of the Biden administration rewarding our enemies and punishing our allies, and recognizing Somaliland should be part of this new era.

‘Somaliland has been a reliable ally to the United States, is integrating itself with us and our allies globally, and is committed to helping us counter efforts by China to undermine the safety and prosperity of Americans,’ he said.

The White House did not respond to a Fox News Digital request for comment.

Neighboring Somalia has been battling Islamist fundamentalist fighters for decades. U.S. Africa Command has increased the number of airstrikes against both ISIS and al-Shabab terrorists under the current administration.

But Somaliland, 99% Muslim, has allegedly eliminated radicalism and has aligned itself with the U.S. and Israel, leading Cruz to tell Fox News Digital, ‘They’re a Muslim country, in a very dangerous part of Africa, showing real courage. I will continue to push for deepening the U.S.-Somaliland partnership, including through the Africa Subcommittee in the Senate, and I expect that my colleagues on both sides of the aisle will be receptive to doing so.’

Earlier this month, Cruz wrote to President Trump about Somaliland, stating, ‘it requires the status of a state. I urge you to grant it that recognition.’

Somaliland’s president, Abdirahman Mohamed Abdullahi , is optimistic, telling the British Guardian newspaper on May 30, ‘Recognition is on the horizon.’ He added, ‘It’s a matter of time. Not if, but when’.

Somaliland’s port at Berbera is the jewel in any Washington deal. Analysts say it is in such a strategic position that both Russia and China have tried to acquire it. Right next door to it is one of Africa’s five longest runways, offering the U.S. the possibility of both a sea and air base that can strike Houthi rebels to the north and Al Shabaab terrorists to the east. 

In his letter to the White House, Cruz wrote, ‘Somaliland has emerged as a critical security and diplomatic partner for the United States, helping America advance our national security interests in the Horn of Africa and beyond. It is strategically located along the

Gulf of Aden, putting it near one of the world’s busiest maritime corridors. It possesses capable armed forces and contributes to regional counterterrorism and piracy operations. It has proposed hosting a U.S. military presence near the Red Sea along the Gulf of Aden.’

The U.S.’s largest military base in Africa is just up the coast in Djibouti. But there are security and surveillance issues at the Camp Lemonnier U.S. base where the Chinese and other nations have opened their own bases and monitoring stations nearby.

Somaliland is also offering the White House access to rare earth minerals essential for high-tech industries, such as lithium and silicon quartz.

The U.S. has described Somalia, with large numbers of both ISIS and al-Qaida-linked operatives, as a terrorist safe haven. Now the increasing presence of China and military forces from countries such as Turkey is reportedly leading some in Washington to be increasingly unhappy with its ‘one Somalia’ policy, where Somaliland continues to be recognized only as a part of Somalia. 

For now, a State Department spokesperson told Fox News Digital the official position: ‘The United States recognizes the sovereignty and territorial integrity of the Federal Republic of Somalia, which includes the territory of Somaliland. The State Department is not in active discussions with Somaliland’s representatives about a deal to recognize Somaliland as a state.’

But, Somaliland’s foreign minister worked Washington’s corridors and politicians in April, and several African sources, including the influential Horn Observer news outlet, have reported that President Abdullahi is expected to come to D.C. ‘soon’. U.S. officials, including the U.S. ambassador to Somalia, Richard Riley, are said to have been to Somaliland to meet with the president at least three times this year.

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