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7 @ 7:00 - BullMarketRun.com

February 12, 2019

7 @ 7:00

Visit the BMR comments section throughout the day for updates and helpful information!

1. Gold has traded between $1,308 and $1,316 so far todayas of 7:00 am Pacific, bullion is up $an ounce at $1,3102018 was an unprecedented year for central bank Gold demand and that trend appears to be continuing through the start of the new year as China bought nearly 12 tonnes of Gold last month…the latest reserve data from the People’s Bank of China shows its Gold holdings jumped by 11.8 tonnes to 1,864 tonnes as of the end of January…this latest increase follows December’s purchase of just under 10 tonnes, the first time China’s central bank added to its Gold reserves since October 2016…while it’s still too early to say that China is on a buying spree, analysts at Commerzbank said that previous trends support further purchases this year…“In the past, the PBOC has tended to buy Gold for several months in succession,” the analysts noted…Silver is unchanged at $15.68…Nickel and Copper are both down marginally at $5.57 and $2.76, respectively, while Zinc has retreated 3 pennies to $1.19…Crude Oil has rebounded $1.32 a barrel to $53.73 while the U.S. Dollar Index is off more than one-tenth of a point at 96.92

2. Revealing – the 4th quarter stock market meltdown continued to reverberate with investors in January, with many fleeing to cash and dumping risk despite a sharp rebound during the month (bullish to contrarians)…Bank of America’s Merrill Lynch’s latest fund manager survey, which gauges where global pros are positioning, showed the biggest net overweight position in cash since January 2009, just 2 months before the market bottomed and set up the longest bull run in Wall Street history…pessimism ran extremely high last December, a very bullish sign…allocations to global equities fell 12 percentage points to a 6% overweight, or the level compared to what would be typical…that’s the lowest since the market turbulence of September 2016…in all, Bank of America’s strategists see all the fear as adding up to opportunity…“Despite the recent rally, investor sentiment remains bearish,” Michael Hartnett, chief investment strategist at the firm, said in a note titled My Big Fat Buyers’ Strike”…he added, Fund managers’ positioning is still a Q1 positive for risk assets”

3. iMetal Resources (IMR, TSX-V) roared to life yesterday, confirming a major breakout on record volume above a long-term downtrend line on the monthly chart, after the company announced encouraging visuals and the immediate expansion of its maiden Phase 1 drill program at Gowganda West, a highly prospective 140 sq. km project that rests directly below Pan American Silver’s (PAAS, TSX) Juby deposit…3 drill holes have been completed at the Zone 1 South target, just 500 m from the Pan American border, each to a depth of approximately 250 m…significantly, the Gold-mineralized and altered mafic volcanic and jasper conglomerate lithologies observed at surface (chip sampling returned Gold values as high as 39.3 g/t) have been intersected by drilling and continue to depth with evidence of a widespread hydrothermal system and fluid migration…fine-grained pyrite with chalcopyrite is associated with quartz-carbonate alteration and veining in the host lithologies, the company reported…Gary Grabowski, IMR advisory board member who served as district geologist for Ontario’s Ministry of Northern Development and Mines for more than 35 years, compared the rock types and alteration at Gowganda West to the Kirkland Lake Camp…“This drill program will be very interesting and could identify a new high-grade Gold system that is parallel to the Juby deposit”the Gowganda district has been vastly under-explored for its Gold potential…just 10 miles to the east at Canada Cobalt’s (CCW, TSX-V) Castle mine, 50 miles southwest of Kirkland Lake, CCW has drilled into an Archean Gold system immediately east of 3 past producing high-grade Silver mines, featuring abundant finely-grained pyrite, multi-generational quartz veining, multiple alteration styles, and extensive faulting which is key to mineralization in this region…an update from CCW is expected shortly…

4. Probe Metals (PRB, TSX-V) has drilled 9.1 m grading 9.6 g/t Au, including 1 m of 42.4 g/t, in a new discovery at its Courvan Property approximately 1.5 km west and adjacent to its New Beliveau deposit near Val d’Or…results from 39 drill holes totalling 11,819 m also confirmed expansion of previous discoveries north and west of the former Bussiere mine…David Palmer, President and CEO of Probe, states, “In a very short space of time the Courvan Property has been elevated into a priority area for generating potential new Gold resources.  The area is characterized by thick, high-grade Gold zones that are interpreted to be part of the same system responsible for the mineralization that comprises the current 43-101 Gold resource 1.5 km to the east.  The Courvan area, as well as the ground in between, has become a priority focus for the winter drill program as we look to extend these mineralized zones and expand our resource base”…the 2018 drilling program at Courvan has allowed the identification of 12 new Gold structures over an area of 2.5 km x 1 km around the old Bussiere mine, all located within a short distance of the company’s current resources…the mineralized zones are similar to those observed along the Pascalis trend with large envelopes of quartz-tourmaline veins and associated alteration…visible Gold is common within the mineralization…

5. Aurora (ACB, TSX) came under mild pressure at the open this morning after releasing its latest quarterly results late yesterday…revenue surged as the company sold a record amount of cannabis in a quarter…however, the pot producer’s selling price fell sharply as it entered the competitive recreational market…Aurora’s results shed light on the pressure cannabis producers face as they seek to increase production and adjust to rising costs associated with new regulations…on last night’s earnings call, the company vowed to continue to prioritize its medical cannabis business, a segment that remained larger and more profitable for the company…“We are positioned to capture a larger part of medical market in Canada and abroad,” Chief Corporate Officer Cam Battley said on the call…Aurora’s numbers for the period ended December 31 offered investors a first glimpse into the 2.5 months since the legalization of recreational cannabis in mid-October…Aurora touted overall quarterly sales of $54.2 million, up 83% from the prior quarter, $21 million of which came from recreational sales…however, the company’s average selling price of dried cannabis dropped by 26%…the most significant driver of Aurora’s revenue growth over the next 12 to 18 months is the company’s scale-up of high-quality production available for sale to the Canadian consumer market and the Canadian and international medical markets…the company anticipates that with Aurora Sky operating at full capacity, as well as continued reduction in operating costs, the cash cost to produce per gram will trend significantly lower…management believes that the combination of substantial revenue growth, low cost of production, and disciplined operating cost management will position Aurora to achieve sustained positive EBITDA beginning in fiscal Q4 2019 (calendar Q2 2019)…technically, the stock remains in a strong overall uptrend…ACB is off 14 cents at $9.36 through the first 30 minutes of trading…

6. The Dow is up 240 points as of 7:00 am Pacificin Toronto, the TSX is 34 points higher while the Venture has gained 4 points to 612 after touching support at its EMA(20) yesterday…Tidal Royalty (RLTY.U, CSE) remains halted, pending news…the U.S.-focused cannabis royalty play closed Friday at 26 cents…GT Gold (GTT, TSX-V) just released final drill results from its 2018 program at Saddle South, the high-grade epithermal system next to the large Gold-Copper-rich porphyry discovery at Saddle North…the program at Saddle South was successful in extending the high-grade mineralization found in 2017 along strike by several hundred metres, and to a similar depth beneath largely covered and untested areas east and west of Saddle Ridge…east of Saddle Ridge, visible Gold intersected in TTD105 (187.5 g/t Au and 53.6 g/t Ag over 0.74 m from 332.26 m) confirms the presence of high grades within the Gold-bearing system in the easternmost drill holes…this intercept is coincident with an extensive high-potential chargeability anomaly that is yet to be fully tested…encouraging but lots of work to do still at Saddle South…Saddle North will continue to be the main driver of value for GTT

7. Oceanagold (OGC, TSX) continues to intersect high-grade Gold mineralization during resource definition drilling along the East Graben vein at the company’s WKP prospect in New Zealand…results released this morning, highlighted by 10 m @ 43.4 g/t Au, 9 m @ 21.2 g/t and 10.1 m @ 19.2 g/t (true widths), support the high-grade results reported in 2018 and will enable geological modelling and resource estimation to define a maiden resource later in the year…Mick Wilkes, President and CEO, stated, “We are very excited about the potential at WKP.  Drilling continues to yield high-grade intercepts across multiple veins with each hole increasing our confidence of a potential resource and possible new major discovery located close to the Waihi operation.  Discoveries such as these have the potential to further create employment opportunities while delivering socio-economic benefits to local communities and nationally”

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7 Comments

  1. CCW looking strong today

    Comment by Bryan — February 12, 2019 @ 9:06 am

  2. IMR looking very strong with a nice green close today again. Appreciate all you do and share Jon.

    Comment by BCCOASTAL — February 12, 2019 @ 1:18 pm

  3. CLM news … https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2097-tsx-venture/clm/58129-heat-engine-may-link-growing-pipeline-of-targets-at-crystal-lake-s-newmont-lake-project.html

    Comment by BCCOASTAL — February 12, 2019 @ 2:47 pm

  4. Hi BMR team,

    Wondering what your thoughts are on the newest drill results from AIS Guac property.

    Comment by Lady — February 12, 2019 @ 3:09 pm

  5. There is reason for encouragement, Lady, given what AIS announced for the first hole which isn’t the main target area. When they’re set to drill the main target, the market should respond favorably:

    Lithium range is 95 parts per million to 106 parts per million. Its minimum commercial value is 187 ppm in its production model. Pit G6 sampled 270 ppm lithium, which was previously reported.

    Potassium and boron are both low thus the sodium sulphate input for the potassium removal and the ion exchange system to remove the boron will not be of any significance.

    Phil Thomas, chief executive officer, said: “These results are great news given the location where we drilled was not optimal. We intersected porous green and brown clays containing salt and sand and didn’t encounter any major fresh water subaquifers that would have collapsed the hole and contaminated it with fresh water. The lithium values are in the ballpark but more important is the lithium to magnesium ratio, being under eight on average. This is encouraging news and we look forward to drilling Rincondillas in the target zone where the resistivity areas are sub 0.015 ohm-m where we expect to encounter much higher lithium values and higher specific gravity due to lithium concentration at depth. We have four drill holes planned in the target zone with a depth of 250 m each. Now that we have the lithology from DH1 it enables us to improve the accuracy of our geological model.”

    Comment by Jon - BMR — February 12, 2019 @ 3:37 pm

  6. Wow, excellent news from CLM post-market – you can tell that Lightfoot understands the “Big Picture” and is on the verge of figuring out something that could be game-changing like his Nickel theories with regard to the Eskay Rift…Romios was either incapable of understanding the “Big Picture” or wasn’t interested in it (Tom Drivas has been running a lifestyle company). OPPORTUNITY IS MASSIVE FOR CLM!

    HEAT ENGINE” MAY LINK GROWING PIPELINE OF TARGETS AT CRYSTAL LAKE’S NEWMONT LAKE PROJECT

    Crystal Lake Mining Corp. has provided an update on the latest understanding of the mineral system model for the variety of occurrences and exploration targets within the 430-square-kilometre Newmont Lake project along the western flank of the Eskay rift, one of the largest land packages in this prolific district.

    Highlights:

    Continuing reinterpretation by Crystal Lake’s technical team of historical and recent released data indicate the potential for a linkage between the historic Northwest gold zone, the Ken-Glacier-O’Neill mineral zone (KGO) approximately three kilometres to the north and other adjacent occurrences along this trend. These exploration targets show potential to host high-grade systems and may be genetically linked to a cluster of granitoid intrusions that comprise part of a heat engine along the Newmont Lake graben structure in the heart of the property.

    Within this geological framework, Crystal Lake has a focus on the discovery of mineral deposit types, including, but not limited to, high-grade gold, copper-gold porphyry, skarn and volcanogenic massive sulphide types.

    A total of 22 separate mineral occurrences have been outlined historically across the project area. Rapidly receding snowfields, advances in technology and a much greater understanding of the regional geology leads the Crystal Lake team to believe that the Newmont Lake project will emerge as a jewel of the Golden Triangle in 2019.

    Crystal Lake looks forward to providing a series of updates, including more results from last fall’s programs, notably from the company’s first drilling at Burgundy Ridge and the Northwest zone, as the month progresses.

    Dr. Peter C. Lightfoot, technical adviser for Crystal Lake who was part of the team responsible for the discovery of the Golden Triangle’s first nickel-copper-rich massive sulphide system less than 15 kilometres from the southern border of the Newmont Lake project, commented: “There are vast tracts of unexplored and underexplored ground within the Newmont Lake project to feed an already large pipeline of quality targets rarely seen on one property. Our mission is to focus on the targets we interpret to have the highest immediate potential. This has me and our discovery team extremely excited for 2019.”

    Crystal Lake has an option to earn a 100-per-cent interest in the Newmont Lake project from Romios Gold Resources (refer to Sept. 24, 2018, and Dec. 3, 2018, news releases).

    Qualified person

    The technical information in this news release has been reviewed and approved by Dr. Lightfoot, professional geoscientist, a qualified person responsible for the scientific and technical information in this news release under National Instrument 43-101 standards.

    About Crystal Lake Mining Corp.

    Crystal Lake is a Canadian-based junior exploration company focused on building shareholder value through high-grade discovery opportunities in British Columbia and Ontario. The company has an option to earn a 100-per-cent interest in the Newmont Lake project, one of the largest land packages among juniors in the broader Eskay region in the heart of northwest British Columbia’s Golden Triangle.

    We seek Safe Harbor.

    Comment by Jon - BMR — February 12, 2019 @ 3:42 pm

  7. A great consolidation day for IMR, some big buys showed up at the end of the day, very encouraging. Tempted to buy more MOON at .045 but I just can’t figure out what will move the price if the last drill results didn’t do it?

    Comment by Danny — February 12, 2019 @ 4:17 pm

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