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1. Gold has traded between $1,289 and $1,295 so far today as it continues to bounce around within a narrow range…some minor selling came into the market after the release of the Philadelphia Federal Reserve’s manufacturing business outlook survey which rose to 17, significantly beating expectations…Gold has climbed for 5 straight weeks but prices have been hovering around a $20 range for the past 2 weeks, unable (so far) to push through key technical and psychological resistance at $1,300…as of 7:00 am Pacific, bullion is off $3 an ounce at $1,291…Silver has retreated 9 cents to $15.48…strong new support is at $15 while the key breakout point is $15.75…Copper is flat at $2.69…visible Copper stocks around the world are relatively low and should support prices…China Copper import premiums have risen to $73 a tonne from an 18-month low of $62.50 in early December, indicating greater near-term demand for the physical metal…Nickel is off a penny at $5.23 while Zinc has added a penny to 1.14…Crude Oil has backed off 52 cents a barrel to $51.79…U.S. Crude Oil production reached a record 11.9 million bpd in the week ending January 11, the Energy Information Administration (EIA) said yesterday, up from 11.7 million bpd the previous week which was already the highest national output in the world…the Dollar Index is relatively unchanged at 96.05 but technicals point to significantly more downside risk than upside potential for the greenback during Q1…
2. Palladium surged past $1,400 for the first time today, driven by a deficit in the auto-catalyst metal and robust demand…“Congressional pushback on efforts to ease U.S. sanctions against Russian metals producers, the world’s top source for Palladium, have probably helped drive supply shortage worries,” said Ilya Spivak, senior currency strategist with DailyFx…many members of Congress have been questioning the U.S. Treasury Department’s decision in December to ease sanctions imposed in April on certain Russian companies…the price of Palladium, used mainly in emissions-reducing catalysts for vehicles, is already up 8% this month and has jumped more than 60% since a trough in mid-August…
3. Vancouver-based and privately-owned Progress Minerals has confirmed its exploration camp near Tantiabongou in the Sahel region of northern Burkina Faso near the frontier with Niger was attacked yesterday and that one of its employees, VP exploration Kirk Woodman, was kidnapped and later killed…Woodman was a geologist with more than 30 years’ experience including over 20 in Gold exploration in West Africa…it’s believed the camp was attacked by a dozen Islamist terrorists with links to al-Qaeda and possibly ISIS…attacks by these terrorists have surged in the country in recent months and Burkina Faso has declared a state of emergency in several northern provinces since the end of December…security has deteriorated as jihadists with links to al-Qaeda and ISIS, including many based in neighbouring Mali, seek to increase their influence across the poorly policed scrublands of the Sahel region just south of the Sahara Desert in West Africa…
4. Great Bear Resources (GBR, TSX-V) is up another 28 cents at $2.72 in early trading…the stock was halted pre-market yesterday and then surged 44 cents to close the session at $2.44 on fresh high-grade drill results from the Hinge and South Limb zones at its 100%-owned owned Dixie Project in the Red Lake district…results featured 1,603 g/t Au over 0.70 m (approximate true width) at a vertical depth of 150 m in Hinge zone hole DHZ-014…the hole intersected a 10.1 m-wide vein zone with visible Gold observed at both its upper and lower contacts…the vein zone is part of the larger Hinge/South Limb vein system which parallels an ultramafic unit and deep-seated fault at the centre of the Dixie Gold system…the DSL/DHZ vein system has been intersected in 28 drill holes across 300 m of strike length to date and is open along strike and at depth…the D2 fold axis that appears to be a significant Gold control has been traced through geophysical methods across more than 10 km of strike length…Chris Taylor, President and CEO, stated…“Our Hinge and South Limb zone are part of a continuous Gold vein system which is interpreted to extend along 300 m in strike length and has been drill tested to a depth of 212 m. The zone remains open in all directions and occurs immediately south of a regional east-west-trending D2 fold hinge and associated structures, which extends for approximately 10 km into undrilled areas. For comparison, the Red Lake-Campbell complex (Red Lake Gold mine) also occurs proximal to a regional D2 fold where shear zones developed and acted as primary hydrothermal fluid conduits, across a 3.2-km x 2.2-km area…Great Bear’s 2019 drill program is fully financed and results will continue to be released regularly in batches as the program progresses”…
5. The Dow is down slightly through the first 30 minutes of trading…Morgan Stanley came under pressure after the bank posted profit of 80 cents per share, below the 89 cent average estimate of analysts…company-wide revenue declined 10% to $8.55 billion, compared with the $9.3 billion estimate…Morgan Stanley’s 2 biggest businesses, Wall Street trading and advisory and wealth management, both suffered revenue declines amid a difficult market environment last year…in Toronto, the TSX is up 8 points as of 7:00 am Pacific…Aurora Cannabis (ACB, TSX), which remains in a strong new uptrend, pulled back as much 91 cents a share in early trading after announcing that it’s proposing to raise $250 million through convertible debt…the stock is now bouncing back after nearly touching its EMA(8)…the Venture is flat at 597…First Vanadium (FVAN, TSX-V), formerly Cornerstone Metals, has drilled the thickest high-grade intercept yet at its Carlin Vanadium Project in Nevada – 73.2 m (240 feet) grading 0.60% Vanadium oxide…GFG Resources (GFG, TSX-V) is up slightly after reporting initial results from a maiden drill program at its Pen Gold Project in the West Timmins region…multiple narrow high-grade intercepts were cut including 33 g/t Au over 1 m…results from 13 more holes are pending…the project holds excellent potential for 2019…Brian Skanderbeg, President and CEO commented, “While we await results from the remaining 13 holes, we are excited to begin our 2019 drill program in February which will test some of the best targets on our 475 sq. km Pen Gold Project”…Balmoral Resources (BAR, TSX) has drilled into numerous Nickel-Copper-Cobalt-PGE sulphide-mineralized lenses within the central portion of the Grasset Ultramafic Complex (GUC) in Quebec, approximately 7 km northwest of, and along strike from, the company’s Grasset deposit…results are highlighted by an intercept of 7.6 m grading 1.05% Ni, 0.31% Cu, 0.05% Co, 0.20 g/t Pt and 0.48 g/t Pd from one of 3 new discoveries, each of which returned greater than 1% Ni, intersected in drill hole FAB-18–58…a massive sulphide intercept returning 4.1% Ni, 0.26% Cu, 0.18% Co, 0.8 g/t Pt and 1.9 g/t Pd over 0.65 m occurs at the base of this intercept…
6. Zenabis Global (ZENA, TSX-V), which started trading on the Venture earlier this month, announced this morning that it has partnered with PEI Cannabis to supply adult-use cannabis throughout the province…Zenabis will sell under their premium Namaste brand…Namaste’s products include dried flower, milled cannabis, and pre-rolls…the Prince Edward Island Cannabis Management Corporation oversees the operation of 4 cannabis retail locations and an e-commerce platform…Zenabis is a significant licensed producer of medical and recreational cannabis, and employs staff coast-to-coast across facilities in Atholville, New Brunswick, Delta and Langley, B.C., and Stellarton, Nova Scotia…in addition to gaining technologically advanced knowledge of plant propagation, the recent addition of state of the art greenhouses in Langley provides Zenabis with 3.5 million sq. feet of land and premises that can, upon full conversion, be dedicated to production space…
7. A solid majority of Canadians are calling the lack of new Oil pipeline capacity in the country a “crisis”, according to Angus Reid…the institute surveyed 4,024 Canadian adults between December 21 and January 3 and found that 58% affirmed that the lack of new Oil pipeline capacity constitutes a crisis, while 42% says it does not…responses varied widely across the provinces, with a high of 87% of Albertans polled calling it a crisis while, at the low end, only 40% of Quebecers had a similar sentiment…that’s ignorance, really, on the part of many Quebecers who are obviously unaware of the contribution Alberta’s Oil industry has made to the tens of billions of dollars their province has siphoned from the federal government in “equalization payments” (welfare) over the years (more than $13 billion will be paid to Quebec in 2019, far exceeding payments to any other province)…meanwhile, in another example of Quebec’s glaring hypocrisy, new Premier Francois Legault recently stated how there was no “social acceptability” in his province for a “dirty energy” pipeline in Alberta…yes, Alberta Oil is “dirty energy” according to the misinformed Legault, but his province has eagerly grabbed the money from that “dirty energy” to fund its expensive social programs and infrastructure projects at the same time as it imports Oil from Saudi Arabia – the ultimate in hypocrisy…Oil from Alberta is “dirty” (of course that was also Obama’s lie for 8 years) but Oil from Saudi Arabia is perfectly okay?…furthermore, even though Quebecers are viewed across the country as “environmentally conscious”, they are (per capita) some of the highest consumers of energy on the entire planet according to a report prepared by researchers at Universite de Montreal’s business school…
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Jon and John, do you both see some Fed move being the catalyst the triggers this silver rally you’re talking about? Perhaps a rate cut?
Comment by flyinthruu — January 17, 2019 @ 8:36 am
Maybe it’s time to shut off the dirty “equalization payments” to provinces and a federal government which will never support oil in the first place. Being polite when I say maybe.
Comment by DJD — January 17, 2019 @ 8:43 am
The republic of western Canada….
Comment by Laddy — January 17, 2019 @ 9:24 am
YES. Could we finally see end of tariff stuff? CNBC reporting US may be lifting some tariffs in hope for a long-term deal.
Comment by flyinthruu — January 17, 2019 @ 11:53 am
A nice release from CCW and an announcement that IMR is started drilling should put a spark in the Gowganda area. It’s been quite the wait, but thinking it’s almost go time.
Comment by Dan1 — January 17, 2019 @ 12:36 pm
Dan, if Jon wants his Peppermint Mochas, he needs to tell Frank to step on it…lol….someone told me Ontario government is giving incentives to companies to clean up tailings…I know Jon, you touched on CCW / government connections and the tailings….curious if someone will happen there…
Comment by flyinthruu — January 17, 2019 @ 12:49 pm
That’s interesting Flyinthruu. It may be but Jon the tone of your last CCW comment makes me think it’s bigger than that. I’ll talk incentives as well. 🙂
Comment by Dan1 — January 17, 2019 @ 1:31 pm
Yeah, I was just referring to the whole situation with the government and tailings is real.
Comment by flyinthruu — January 17, 2019 @ 2:20 pm
BMR, I’d like to make a suggestion. Is it possible to provide an option to edit a post after submission? Say a 15 minute timeline? It would help with the spelling errors such as my post above. I meant to say, “I’ll take incentives as well.”
Comment by Dan1 — January 17, 2019 @ 2:38 pm
Moon just released drill results
Comment by MuskyHunter — January 18, 2019 @ 5:04 am
Awesome numbers for MOON, plus drilling about to re-start on discovery of highest grades ever at deposit…
Comment by Jon - BMR — January 18, 2019 @ 5:14 am
Rich new high-grade zone for MOON (more than 50% above resource grades over 121 feet) with Zinc, Copper, Gold and Silver…Phase 2 follow-up drilling starts shortly thanks to this new discovery…stock will respond VERY nicely!…
Blue Moon Cuts 30.3% Zinc, 1.7% Copper Plus Precious Metals Over 30 Feet at Blue Moon Deposit (true width ~55%)
VANCOUVER, Jan. 18, 2019 /CNW/ – Blue Moon Zinc Corp. (TSX.V: MOON; OTC: BMOOF) (“Blue Moon” or the “Company”) is pleased to announce the discovery of high-grade zinc-copper-rich massive sulphides with precious metal values at its 100%-owned Blue Moon VMS deposit in Mariposa County, California.
Given the significance of the results, the first drilling at Blue Moon in nearly 30 years, a Phase 2 follow-up drill program is planned to commence shortly in an attempt to expand the highest-grade zone ever encountered at the deposit.
Highlights:
– Drill hole BMZ-78 cut 30 feet (9.35 metres) of massive sulphide mineralization grading 30.3% zinc, 1.7% copper, 1.67 g/t gold and 71 g/t silver for a zinc equivalent of 36.8% within a broader interval of 120.7 feet (36.5 m) that returned 9.45% zinc, 0.58% copper, 1.1 g/t gold and 42.9 g/t silver for a zinc equivalent of 12.61%;
– BMZ-78 was drilled into a previously untested area (200 feet x 500 feet) within the West and Main Zones at a vertical depth of approximately 1,200 feet (374 metres);
– Blue Moon’s 2018 drill program demonstrates that the massive sulphide lenses are now traceable for approximately 3,000 feet (900 metres) along plunge and remain open to surface and depth.
The Blue Moon NI-43-101 Inferred mineral resource announced on November 20, 2018 had a zinc equivalent (“ZnEq”) of 8.07% at a ZnEq cut-off grade of 4.0%.
Patrick McGrath, Blue Moon CEO, commented: “Drill hole BMZ-78 is a major breakthrough at this zinc-rich VMS deposit, supporting the continuity of the system while also demonstrating the presence of a very high-grade zinc core with impressive copper and precious metal content. Gold values of 4.98 g/t and 5.00 g/t, respectively, over five feet and silver values of 130 g/t over three feet are present within the massive sulphides.
“Our crews are eagerly preparing for the next round of drilling to further build on the grade and the footprint of this deposit,” McGrath continued. “Meanwhile, we look forward to carrying out studies in 2019 to verify the clean metallurgical profile of the Blue Moon mineralization as reported through historical work documented in our NI-43-101 filed on SEDAR on November 20, 2018.”
About Blue Moon
Blue Moon (TSX.V: MOON; OTC: BMOOF) is currently advancing its 100%-controlled Blue Moon zinc deposit which also contains copper, gold and silver. The deposit is open at depth and along strike. The Blue Moon 43-101 Mineral Resource includes 7.8 million inferred tons at 8.07% zinc equivalent, which includes 771 million pounds of 4.95% zinc, 71 million pounds of 0.46% copper, 300,000 ounces of gold at 0.04 oz/t, and 10 million ounces of silver at 1.33 oz/t. The 43-101 was filed on http://www.sedar.com on November 20, 2018. More information is available on the company’s web site (www.bluemoonmining.com). The Company plans to advance the Blue Moon Project through to feasibility, permitting and ultimately production.
Qualified Persons
Peter A. Herrera, P. Geo, is a qualified person as defined by NI-43-101, and has reviewed the scientific and technical information that forms the basis for this news release.
Neither the 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. Resource estimates included in this news release are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions set forth in the relevant technical report and otherwise, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for zinc, the results of future exploration, uncertainties related to the ability to obtain necessary permits, licenses and titles, changes in government policies regarding mining, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.
The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
SOURCE Blue Moon Zinc Corp.
View original content: http://www.newswire.ca/en/releases/archive/January2019/18/c1881.html
Contact:
Patrick McGrath, CEO, 1-832-499-6009, pmcgrath@bluemoonmining.com
Comment by Jon - BMR — January 18, 2019 @ 5:23 am