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7 @ 7:00 - BullMarketRun.com

August 10, 2017

7 @ 7:00

Check the BMR comments section throughout the day for updates and helpful information.

1. Gold, continuing to benefit from heightened tensions on the Korean peninsula, has traded between $1,276 and $1,286 so far today…as of 7:00 am Pacific, bullion is up $7 an ounce at $1,284…Silver has added 26 cents to $17.18, pushing above a downsloping channel in place over the last several months on the 6-month chart…Crude Oil is 8 cents higher at $49.64 while the U.S. Dollar Index has rallied one-quarter of a point to 93.75Gold demand in India has been sluggish so far this month…dealers there have been offering a discount of up to $7 an ounce on official domestic prices this week, down from a discount of $11 last week, which was the highest since late September of last year…

2. Gold prices added to their 2-month highs following weaker than expected U.S. producer inflation pressure…the Labor Department this morning said its Producer Price Index fell 0.1% in July following June’s 0.1% increase…going into the report, consensus expectations compiled by news organizations had been for a rise of 0.1% in the headline figure…the report noted that core inflation, which strips out volatile food and energy prices, also fell 0.1% last month, following June’s 0.1% increase…

3. The Dow is down for the 3rd straight day in a healthy pullback after 10 straight winning sessions…as of 7:00 am Pacific, the Dow has lost 106 points…in Toronto, the TSX has dipped 46 points while the Venture, on the strength in Gold and Oil, is bucking the trend with a 1-point gain to 764GTT Gold (GT, TSX-V) is showing strength in early trading, climbing as high as $1.27…previous Fib. resistance at $1.16 has been serving recently as new support….the company has made a significant high-grade Gold drilling discovery at its Tatogga Property approximately 20 km northwest of the Red Chris mine…

4. This doesn’t happen too often – a Venture company carrying out a stock split…Jaxon Minerals (JAX, TSX-V) announced this morning that it has approved a share split of the company’s issued and outstanding common shares on the basis of 1.25 new common shares for every existing common share (options and warrants will also be adjusted on that ratio of course)…Jaxon currently has 51,054,223 shares issued and outstanding…following the share split, the company will have 63,817,779 shares outstanding and its name will be changed to Jaxon Mining…the company says it believes that “having a greater number of shares at a reduced price will enhance long-term liquidity and increase investor interest in Jaxon and its business”…so far, a reduced price is exactly what management is getting as JAX has fallen a nickel to 31.5 cents through the first 30 minutes of trading…

5. Barkerville Gold Mines (BGM, TSX-V), responding well to higher bullion prices and fresh drill results yesterday from its Cariboo Gold Project, has added another 2 pennies to 90 cents as of 7:00 am Pacific…yesterday, the company reported that it has intersected 18.8 g/t Au over 30.85, 20 m vertically below previously reported drill hole IM-17078 which cut 11.4 g/t Au over 28.5 m at a vertical depth of 450 m below surface…the geometry and true width of that new mineralized zone is not known at this time…the company is currently exploring and delineating the Valley and Shaft zones with 7 drill rigs while an 8th drill rig is testing a broad Gold in soil anomaly on Barkerville Mountain…given the continued drilling success at the project, the company has ordered 2 additional drill rigs to bring the total number of operating rigs to 10

6. GoldQuest Mining (GQC, TSX-V) has eased off slightly after releasing assay results this morning from the latest batch of drill holes from its continuing Tireo exploration drill program in the Dominican Republic…the holes are all from the recent Cachimbo VMS discovery…highlights included 2 Gold zones in TIR-1735 including 11.7 m grading 6.3 g/t Au, 30 g/t Ag, 2.3% Zinc and 0.18% Cu…investors were looking for something more exciting with GQC off 2.5 cents at 42.5 cents in early trading…

7. eCobalt Solutions (ECS, TSX), which has been mounting a challenge to its February high of $1.48 by climbing as high as $1.43 this week, provided an update yesterday on its Feasibility Study and recently initiated pre-construction activities for its 100%-owned Idaho Cobalt Project (ICP) in anticipation of final FS receipt expected later in September…the ICP is the only near-term, environmentally permitted and primary Cobalt project located in the United States…Paul Farquharson, President & CEO of eCobalt, stated: “We are encouraged by the recent progress and preliminary results of the Feasibility Study. As we anticipate results to be filed in September, we are fast tracking key pre-construction activities at the mine site this fall in preparation for the expected recommencement of construction in 2018 after project financing is completed.”

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24 Comments

  1. fact sheet just updated.

    Comment by Laddy — August 10, 2017 @ 9:40 am

  2. maybe nr after close or am.

    Comment by Laddy — August 10, 2017 @ 9:47 am

  3. fact sheet update just now.

    Comment by Laddy — August 10, 2017 @ 9:48 am

  4. photos also on e&l.

    Comment by Laddy — August 10, 2017 @ 10:13 am

  5. Beautiful massive sulphide sample from anomaly D, Laddy!

    And here’s something new – view from anomaly A shows a gossaneous zone in far background, they say its about 3 km to NW on GGI ground but beyond the extent of the recent VTEM Survey.

    What a BIG MONSTER this is starting to look like!

    Comment by maxwell — August 10, 2017 @ 11:27 am

  6. yes,monster is rite,maps also updated, I think an nr is imminent.

    Comment by Laddy — August 10, 2017 @ 11:38 am

  7. GGI
    Love the new map, you can see A B C D anomalies all lined up, really cool!

    Comment by Gregh — August 10, 2017 @ 11:39 am

  8. Finally, the map of the A-B-C-D anomalies !

    http://www.garibaldiresources.com/i/maps/GGI-E_L-Project-Map-Aug-10-2017.jpg

    Comment by rgiroux — August 10, 2017 @ 11:42 am

  9. and amazing pictures in the photo gallery…

    http://www.garibaldiresources.com/s/Photo_Gallery.asp?ReportID=768260

    Comment by rgiroux — August 10, 2017 @ 11:46 am

  10. Yup, there is a monster or two lurking at E&L

    Comment by Dan1 — August 10, 2017 @ 11:58 am

  11. GTT
    Wow all of a sudden it just took off, crazy things are going to happen over the next few months in the GT for sure…

    Comment by Gregh — August 10, 2017 @ 12:20 pm

  12. Jon

    what is your take on the new info and photos on the GGI website?

    thanks

    Comment by Gregh — August 10, 2017 @ 2:52 pm

  13. Traveling, Gregh, will check out later tonight.

    Comment by Jon - BMR — August 10, 2017 @ 4:20 pm

  14. Jon – with the new maps what does that do for MTS?? anything??? thx mate

    Comment by Jeremy — August 10, 2017 @ 5:50 pm

  15. MTS – PP now bumped from $400 to $600K @.25 w 1/2 wts. supposed to close in a couple days

    Comment by david — August 10, 2017 @ 7:21 pm

  16. As good as ever, Jeremy…this will be really clear in a model our geological consultant is now completing which should be ready in the next several days…around the perimeter of a robust high-grade Nickel-Copper system at the E&L, you have ideal conditions for both Cu-Au porphyry deposits and high-grade Gold…the Kirkham fits perfectly within that model based on what’s being observed at the E&L…the Kirhkam has just been way under-explored over the years…6 km long monzonite porphyry on the Kirkham speaks volumes…prime hunting ground for another discovery in the district…we’ll explain all the reasons why in layman’s terms…

    Comment by Jon - BMR — August 10, 2017 @ 7:41 pm

  17. Thx mate!!!

    Comment by Jeremy — August 10, 2017 @ 7:43 pm

  18. Jon: ABN broke out above 20 today finally! What do the charts show?

    Comment by MERIDEX — August 10, 2017 @ 7:52 pm

  19. Jon
    Is the model for the kirkham property or the E&L property?
    Thanks

    Comment by Gregh — August 10, 2017 @ 8:20 pm

  20. The E&L, Greg…understanding how this Nickel-Copper system developed, in the middle of this Camp, is key to understanding what may exist at Kirkham…we’ll be elaborating on that…

    By the way, getting back to your earlier question I didn’t have an opportunity to address yet, classic Nickel-Copper massive sulphide sample shown by GGI from the Anomaly D area…an educated guess is that it runs in the 3-4% Nickel range and roughly 2% Cu plus credits in PGE’s, Gold, Silver and Cobalt…

    Early pics from Anomaly A certainly capture why the geos are so excited…VTEM didn’t get past Anomaly A, so still open to the north…

    They say A-B-C-D are the “highest priority” conductors, which implies obviously that there are more!…some that are more subtle but could nonetheless be significant…

    You know the broad area defined by Conductor D below the historic mineralized zones has got to be juiced up with Nickel and Copper…lots of evidence for that including the fact that the biggest step-out hole to the east in the 1960’s (175 m from the northwest zone) was outside the conductor and ended in 1% Nickel and strong Copper…drilled to a depth of only 30 m and got richer down the hole…

    It’s ironic that Silver Standard is now chasing deep VMS targets at the SIB after walking away from such an exciting near-surface discovery at Nickel Mountain in the 60’s, simply because Nickel and Copper weren’t their specialty…Silver Standard (now SSR Mining) and ESK may ultimately find another Eskay Creek at SIB, as it’s truly a jewel of the Golden Triangle, but Silver Standard must be watching with great curiosity the developments at the E&L – at least they still hold a 1% NSR…

    Comment by Jon - BMR — August 10, 2017 @ 10:06 pm

  21. From what I understand, ESK has significant intersections of Eskay Creek rock. This is the only Eskay Creek rock found to date to my knowledge and you say ESK missed on their first 3 holes; maybe a better look/understanding of Eskay Creek geology on your part would have been prudent before making that “missed” statement.
    I was disappointed to see your quick negative statement before looking further into the actual rock type that was found. I feel this very large well situated property could very well hold the biggest prize of all given the required time to prove it.

    Comment by Murray — August 11, 2017 @ 12:08 am

  22. Murray, you’re exactly right in the sense of the type of rock that was hit in the first holes at SIB – important point. I understand that perfectly and it wasn’t my intention to downplay the significance of that news, even though massive sulphides were not intersected in these initial holes. However, they’re after a DEEP target and you have to appreciate that that can be like finding a needle in a haystack. No other service has been, and continues to be, more bullish on the prospects of what may exist at SIB than BMR, so please keep that in mind!…like you I am also a shareholder. You may have misunderstood the broader context of our comments regarding ESK – we’ll have the opportunity to expand on that in the next few days.

    Comment by Jon - BMR — August 11, 2017 @ 4:09 am

  23. Those pictures at the site of Garibaldi look breathtaking!
    Unbelievable project. I have a feeling It is gonna be
    Much bigger than Voisey Bay!!!! Next week with all the
    News coming out we Will be trading into the dollars.
    Everyone is aware of the legendary Daimond Fields story.
    We are at the beginning of a bigger one!!!

    Comment by Tran — August 12, 2017 @ 12:40 am

  24. Reading for the week-end, in case you haven’t read “The Story of Voisey’s Bay”, in 3 parts: it is entertaining. It was produced at the time EQT was drilling in Labrador.

    http://www.visualcapitalist.com/the-story-of-voiseys-bay-the-discovery-1-of-3/

    Comment by rgiroux — August 12, 2017 @ 10:22 am

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