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August 13, 2019

7 @ 7:00

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

1. Gold has traded between $1,479 and $1,535 so far today in a volatile sessionas of 7:00 am Pacific, bullion is down $23 an ounce at $1,487 on healthy profit taking and news within the last half hour of a slight “thawing” in U.S.-China trade relations…the U.S. Trade Representative Office (USTR) said certain items were being removed from the new China tariff list because of “health, safety, national security and other factors”…in addition, the USTR also announced a delay of tariffs on “cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing” until December 15…separately, China’s Commerce Ministry said Vice Premier Liu had a phone call with Trade Representative Lightizer and Treasury Secretary Steven Mnuchin…China said they agreed to another call in 2 weeks…President Trump continues to drive the agenda which puts the U.S. in the advantage…Gold is sensitive to every development in the U.S.-China trade saga, so this morning’s action in the metal isn’t surprising but comes in the context of a primary uptrend with deep support…Silver has backed off after briefly passing nearest measured Fib. resistance in the $17.20’s…again, normal technical trading – Silver is currently off 30 cents at $16.73…base metals are edging higher…Nickel, Copper and Zinc are all up slightly at $7.16, $2.62 and $1.03, respectively…Crude Oil has added $1.45 a barrel to $56.38 while the U.S. Dollar Index has pushed one-fifth of a point higher to 97.59…U.S. consumer prices rose more quickly than expected in July as gasoline reversed a 2-month decline and rent costs continued to climb…however, the CPI numbers won’t be enough to deter another rate cut that the markets have been clamoring for…

2. A plunge in bond yields has left investors with few alternatives to stocks…the latest flare-up in trade tensions has quickened investors’ flight to haven assets, pushing bond yields down to their lowest levels in years…the pullback in yields, along with a new phase of monetary loosening by central banks around the world, should give investors a new rallying cry for the 2nd half of the year…nearly 60% of stocks in the S&P 500 offer a dividend yield of at least 1.7%, according to FactSet, better than the 1.64% yield where 10-year U.S. Treasurys settled yesterday…

3. Chinese propaganda outlets warned today that protesters in Hong Kong are “asking for self-destruction” as they released a video showing the People’s Armed Police and military vehicles assembling in Shenzhen, a city bordering Hong Kong, about an hour-and-a-half drive away…The People’s Daily, the official newspaper of China’s Communist Party, posted on Chinese social media a statement saying the People’s Armed Police are prepared to handle “riots, disturbance, major violence and crime and terrorism-related social security issues” in Hong Kong…in a social media post today from the Global Times‘ Chinese edition, the outlet said “if Hong Kong rioters cannot read the signal of having armed police gathering in Shenzhen, then they are asking for self-destruction,” according to a CNBC translation…the situation in Hong Kong has become very serious and markets are paying close attention…protesters swamped Hong Kong International Airport for a 2nd straight day today, blocking the gates to the security and immigration areas, and snarling the busy transit hub…

4. SunMetals (SUNM, TSX-V) has drilled 142.35 m (hole 428D) grading 1.2% Cu, 1.3 g/t Au, 21.8 g/t Ag and 0.41% Zn (3.8 g/t AuEq), including 32.2 m @ 8.1 g/t AuEq, and another 14.1 m @ 10.8 g/t AuEq, at its Stardust Property in north-central B.C., following up on the discovery in the 421 zone last fall…results from the first 3 holes this summer confirm continuity of mineralization down dip and to the south from hole 421…the other 2 holes released this morning were highlighted by 107 m of 1.6% Cu, 1.8 g/t Au and 28.6 g/t Ag (4.8 g/t AuEq) and 90.05 m @ 3.6 g/t AuEq, 50 m to the south of the mineralized intercept in hole 421 (true widths are unknown at this time)…Steve Robertson, President & CEO stated, “The initial step-out drilling was very important to establish the continuity this recently discovered mineralization in the 421 zone.  It is particularly encouraging to see the continued strong precious metals content within this skarn altered zone.  The Gold content makes this discovery even more captivating”…diamond drilling at Stardust was initiated in late May with 2 drills…to date, 5,220 m has been completed over 11 drill holes and holes 12 and 13 are in progress…the primary focus of the program is to explore around the mineralization identified in hole 421 which returned a 100-m interval of 2.5% Copper, 3 g/t Gold and 52.5 g/t Silver for a 5% CuEq or an 8 g/t AuEq…SUNM climbed as high as 58 cents in early trading and is up 2 pennies at 53 cents as of 7:00 am Pacific

5. Crystal Lake Mining (CLM, TSX-V) has added a 2nd drill rig to its Newmont Lake Project in the Eskay Camp as an important new grassroots discovery builds at Burgundy Ridge while evidence points to a potential major extension of the Northwest Gold Zone where historic results included 55 g/t Au over an 11-m core length…at Burgundy, the 3rd hole of a maiden diamond drilling program has been completed to a depth of 441 m, demonstrating that the system has deep roots and extends well beyond a Copper-Gold-enriched limestone body…multiple intrusive phases, breccias, alteration and mineralization styles have been intersected in each of the first 3 holes with intensity of mineralization increasing downhole in a hydrothermal breccia in hole 3…the 4th hole has commenced…meanwhile, new geophysical and geochemical data, in addition to a review and resampling of historic core, suggests the Northwest Gold zone is open for significant potential expansion, particularly to the northeast…drilling begins there in the coming days…28.7 g/t Au and 3.7 g/t Ag over 0.9 m (207.6 m to 208.5 m, true width unknown) has been assayed in a drill hole from 2008 (R08-03) that historically showed no high-grade results and had been interpreted as potentially closing off the zone on the northeast end…Crystal Lake’s results demonstrate otherwise…CLM is up half a penny at 34.5 cents as of 7:00 am Pacific

6. The Dow has soared 385 points through the first 30 minutes of trading as investors cheered apparent progress on the U.S.-China trade frontin Toronto, the TSX is up only 44 points, weighed down by a drop in the Gold Index…it opened at 256 and then promptly dipped to the 240 level…a very strong support band stretches from about 240 to the high 220’s…the winning strategy for a year now, proven repeatedly, has been to accumulate Gold stocks on any weakness during this bull run that is still in its early stages…most investors, however, prefer to chase…new revelations keep rolling in at Canntrust Holdings (TRST, TSX)…the Globe & Mail’s Jeffrey Jones wrote this morning that on the surface, the sad saga of CannTrust looks to be about a failed attempt to skirt regulations in an effort to meet promises to investors…what the reporting has shown, though, was a struggle for control at the executive and board levels, which led employees to divide themselves into warring camps…ultimately, the internal battle pushed conflict out in the open, and that was a factor in a crisis that has prompted the ejection of CannTrust’s 2 top executives, set off an investigation by securities regulators, led to an effort to sell the company and brought skepticism about the legal cannabis industry’s ability to operate like any other…the Venture touched 598 at the open but has backed off to 591, down 3 points, as of 7:00 am Pacific as Gold retreated…Kootenay Silver (KTN, TSX-V) was halted pre-market, pending news…

7. Over 20 million electric vehicle charging points are expected to be deployed globally by 2030, consuming over 250% more Copper than in 2019, according to consultancy Wood Mackenzie in a new report…Henry Salisbury, Wood Mackenzie research analyst, stated, “Copper is a cornerstone of the EV revolution.  At the heart of the electric vehicle, it is used throughout because of its high electrical conductivity, durability and malleability.  The need for Copper is even more significant when it comes to charging stations and supporting electrical grid infrastructure”…by 2040, Wood Mac predicts that passenger EVs will consume more than 3.7 million mt of Copper every year…in comparison, passenger internal combustion engine vehicles will need just over 1 million mt…

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  1. Pretty good day for GGI. Got to love the strong buying around these levels…

    Comment by Jean — August 13, 2019 @ 12:33 pm

  2. Gold strength, upcoming drilling and this morning’s news should help American Pacific continue to push higher…


    The gravity and CSAMT key geophysical ground surveys conducted at American Pacific Mining Corp.’s Tuscarora gold project are now complete. Oceanagold has updated the geophysics and the 3-D model and in doing so has identified a number of target areas within the Tuscarora project area.

    Tuscarora is a high-level, epithermal gold/silver district containing numerous precious metal veins within the project area. Mineralization is coeval with that found in the nearby world-class Carlin and Cortez trends but differs in that it is hosted in a 40-million-year-old volcanic rock sequence on the flanks of an ancient caldera. Historic drilling along the South Navajo zone has intersected high-grade mineralization from the South Navajo vein, just one of many veins that project into the property and are covered by pediment gravels.

    The veins that trend toward the Tuscarora claim block in addition to the South Navajo vein include the East Pediment, Grand Prize, Dufreeze, Independence, Schoolhouse, Navajo Hill, King’s, Modoc Hill and Battle Hill vein sets. All but the Battle Hill vein sets are untested or minimally tested throughout the district.

    In the early 1980s shallow definition drilling in the Dexter pit area proved that mineralization exists within other veins that are located on the Tuscarora property. The Schoolhouse vein yielded intercepts of 9.34 grams/tonne over 4.6 metres, 8.81 grams/tonne over 6.1 metres and 6.8 grams/tonne over 24.4 metres.

    Historic exploration efforts have focused on the interpretation that all veins are parallel to the South Navajo vein. The Navajo vein system has a north-northwest trend and dips to the west, with past drilling directed toward the east to intersect the vein. The newly interpreted geophysical data, in addition to geologic mapping, indicate that there are several structural trends ranging from northeast to north-south to northwest trending, and that dips are both east and west. This is typical of radial and ring faults found worldwide in other volcanic/caldera complexes similar to Tuscarora. No past drilling has addressed the east-dipping structures and no holes in the district have ever been drilled to the west to intersect this structural trend. The newly defined target areas have very little drill data and open up entirely new project-wide exploration potential.

    “The exploration targets at Tuscarora include the East Pediment zone and the numerous other veins, faults and structures that project into the pediment gravels within the Tuscarora property,” commented Eric Saderholm, American Pacific Mining’s president. “The newly interpreted structural trends are an exciting development and the proof-of-concept drilling beginning in August, 2019, will further define the mineralization controls and help vector future exploration.”

    The company would also like to announce that American Pacific Mining has entered into an arm’s-length agreement with Clarkham Capital’s investor media and social media services for a period of three months.

    Qualified person

    Technical aspects of this press release have been reviewed and approved by Eric Saderholm, PGeo, the designated qualified person (QP) under National Instrument 43-101.

    About American Pacific Mining Corp.

    American Pacific Mining is a gold explorer that is focused on precious metal opportunities in the Western United States. Tuscarora is a high-grade, early-stage gold project located in a prime precious metal district in Nevada, only 35 kilometres northeast of the Carlin trend, 20 kilometres southwest of the Jerritt Canyon deposit and 50 kilometres east-northeast of the Midas deposit. American Pacific is eyeing a gold discovery amidst gold’s next bull market.

    Comment by Jon - BMR — August 14, 2019 @ 5:54 am

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