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June 13, 2019

7 @ 7:00

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

1. Gold has traded between $1,333 and $1,340 so far todayas of 7:00 am Pacific, bullion is up $2 an ounce at $1,335…Silver is 4 cents higher at $14.80…Copper is up a penny at $2.65…Nickel has added 5 cents to $5.39 while Zinc has slipped a penny to $1.19…Crude Oil has jumped $1.55 a barrel to $52.69 following attacks on tanker ships off the coast of Iran, renewing fears of conflict in the Middle East after a series of strikes last month…the vessels sustained significant fire damage and their crews have been evacuated, according to multiple shipping agents and chartering sources…the attacks occurred in the Gulf of Oman, near the Strait of Hormuz, the world’s busiest sea lane for Oil shipments…it was not immediately clear who was responsible for the attacks, but Iranian leadership in Tehran has repeatedly threatened to block traffic in the Strait of Hormuz in retaliation for U.S. sanctions on the Islamic Republic…meanwhile, it was reported this morning that Oil production from OPEC fell by 236,000 barrels per day in May to 29.88 million bpd, the lowest level since June 2014…the U.S. Dollar Index is up slightly at 97.04

2. Holdings of Gold by global ETFs have jumped significantly so far this month…”Gold remains in good demand at present – the Gold ETFs tracked by Bloomberg saw inflows of almost 9 tonnes yesterday, another sizeable inflow on top of those already registered in the last 2 weeks,” Commerzbank said…“ETF holdings, meanwhile, have been topped up by over 52 tonnes since the start of the month.  This is presumably one of the reasons why Gold is inching towards $1,340 per troy ounce this morning”

3. Drilling is now underway at Garibaldi Resources‘ (GGI, TSX-V) Nickel-Copper-rich massive sulphide discovery at Nickel Mountain, featuring some of the highest grades ever recorded in global Nickel sulphide deposits…the fully-funded 2019 drill program will focus on building out the 5 currently known mineralized zones at the E&L (Lower Discovery, Upper Discovery, Northeast, Central and Northwest) outlined through 46 drill holes during 2017 and 2018…the E&L system is wide open for expansion in all directions – to the east, the west, the south, the north and at depth…a couple of major changes this year: 1) Garibaldi is using a new drilling company, ITL Drilling Ltd., which has brought state-of-the-art drill rigs to Nickel Mountain that are expected to significantly increase daily drilling meterage and dramatically reduce costs per meter drilled; 2) There will be a much faster turnaround time on assay results as protocols have been reviewed and changes have been implemented…Lamontagne Geophysics is continuing with borehole electromagnetic (BHEM) geophysical surveys which have proven to be a remarkably effective tool in detecting conductive areas hosting massive sulphides…meanwhile, detailed analysis of oriented drill core, geology and key geochemical correlations at the E&L deposit are providing valuable new insights with regard to structural controls on mineralization and drill targeting…Steve Regoci, Garibaldi President and CEO, commented, “This is shaping up to be an extraordinary summer of activity in the Eskay Camp.  Garibaldi looks forward to leading the charge with new discoveries at the E&L and along the Nickel Mountain trend where the Gabbroic Complex is now known to extend for at least 12 km”GGI is up a nickel at $1.08 as of 7:00 am Pacific

4. North of the Eskay Camp, about a 2-hour drive up Highway 37GT Gold (GTT, TSX-V) has commenced a 10,000+ m Phase 1 drill program with 2 rigs at its Saddle North Copper-Gold high-grade porphyry discovery, targeting expansion of the system at its 100%-owned Tatogga Project northwest of the Red Chris mine…the goal of the Phase 1 program is to further define and potentially expand the shallow high grades identified in hole TTD108, as well as expand the known deeper high-grade mineralization at Saddle North…drilling will test up-dip from drill hole TTD108 which returned values of 0.83 g/t Au, 0.52% Cu, 1.39 g/t Ag over 116.9 m, the shallowest hole (350 m) drilled in 2018…drilling will also test the down-dip and strike extensions of the deeper and higher-grade core centred around 2018 drill holes TTD093 and TTD109, the latter of which returned, from surface, a world class interval of 0.62 g/t Au, 0.36% Cu and 1.17 g/t Ag over 1,150 m…concurrent with Phase 1 drilling, additional exploration activities are planned, including IP surveys and airborne magnetotelluric (MT) surveys, geologic mapping, prospecting, and soil sampling…the objective of those programs is to develop additional targets at and peripheral to Saddle North, and across the 468 sq. km property…those targets will be tested in an anticipated Phase 2 drill program later in the season…GTT is up 2 pennies at 89 cents through the first 30 minutes of trading…

5. Radius Gold (RDU, TSX-V) has drilled 81 m @ 3.75 g/t Au and 61 g/t Ag, including 21 m @ 7.9 g/t Au and 65 g/t Ag (AMDD19015), in Phase 2 drilling at its Amalia Gold-Silver Project in Chihuahua, Mexico…Radius completed 6 diamond drill holes (1,756 m) targeting the San Pedro structural zone…meanwhile, AMDD19014 cut 28 m at 2.3 gt Au and 126 g/t Ag including 3 m @ 9.85 g/t Au and 761 g/t Ag…these results confirm the down dip expansion of the high grade multi-phase Gold-Silver mineralization intersected in dril lholes AMDD18009 (26 m at 7.08g/t Au and 517 g/t Ag) and AMDD19010 (44 m at 12.4 g/t Au and 309.3 g/t Ag), and continue to demonstrate the potential for a significant discovery at the Amalia Project..mineralization is hosted within the hanging wall of the San Pedro fault with disseminated fine black sulphides and sulphide veining commencing within rhyolitic ignimbrites, and transitioning to intense silicification, stockwork veining and brecciation…in early trading RDU is up a penny-and-a-half at 25.5 cents where it faces resistance at its short-term moving averages…

6. The Dow has gained 102 points as of 7:00 am Pacific…in Toronto, the TSX is up 27 points as the Gold Index approaches its 2019 high…key resistance is 211…the Venturemeanwhile, is unchanged at 592Global Energy (GEMC, TSX-Vhas staked 11 new claims adjoining the 70 pre-existing Lovelock claims in Churchill county, Nevada…recent sampling from the newly staked area extended the potential for additional Nickel, Copper and Cobalt mineralization around the historic mine…Wolfden Resources (WLF, TSX-V), which appears to be bottoming out in the low to mid-teens, has commenced its 2019 exploration program at its 100%-owned high-grade polymetallic Pickett Mountain Project in northeastern Maine…the program will include up to 10,000 m of diamond drilling that will be focused on expanding resources and testing high priority drill targets that could lead to the discovery of other lenses similar to the Footwall Zone (FWZ) that was discovered at the end of 2018 drill program…2019 drilling will include step-out holes (wedging) around the FWZ, the West and East lenses and testing favourable targets to the north that indicate the potential for other mineralization…Pickett Mountain is one of the highest grade undeveloped VMS deposits in North America…

7. Azimut Exploration (AZM, TSX-V) has started an exploration program at its wholly-owned Elmer and Duxbury properties following the company’s comprehensive assessment phase…the properties provide continuous coverage over a 35-km segment of an under-explored greenstone belt that is considered highly prospective for intrusion-related and shear-related Gold deposits…encouraging preliminary prospecting results, including 77.8 g/t Au, 60.4 g/t Au, 54.6 g/t Au and 8.56 g/t Au in grab samples, have already been reported…on the Elmer Property, 13 Gold (Silver, Copper, Zinc) prospects, mostly high-grade, are located within an ENE-WSW corridor 12 km long by up to 3 km wide…reconnaissance prospecting on the Duxbury Property confirms the strike continuity of this trend…access to the Elmer and Duxbury properties is afforded by the quality infrastructure of the James Bay region of Quebec, one of the most active regions for Gold exploration in Canada…

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  1. I hope GGI includes the updated 3D maps in the PR of their first drill results this season. That way the market has to notice what they are building…

    Comment by Jon (not BMR Jon) — June 13, 2019 @ 2:53 pm

  2. Morning time here in Europe and gold and silver are flying high. Gold blasted through $1350 earlier this morning and now we need to close above this resistance. It’s been a long time coming but it seems a new bull market for gold is on the way. Momentum buyers will jump in above $1400 so it will be interesting to see if that happens now or on the next move. Hold onto your gold and silver shares as they are about to take off.

    Comment by Patrick — June 14, 2019 @ 12:58 am

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