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7 @ 7:00 - BullMarketRun.com

May 16, 2017

7 @ 7:00

Visit our comments section throughout the day for updates and helpful information, and check BMR later today for today possible separate post(s).

1. This is a special early edition of 7 @ 7:00 due to travelGold is up slightly as of 5:00 am Pacific, trading in a narrow range overnight between $1,232 and $1,236…bullion has demonstrated its very strong technical support in the low $1,200’s in recent sessions and respected TD Securities‘ commodity analysts Bart Malek and Ryan McKay see no reasons, not even a Fed rate hike, for Gold to fall below the $1,200 floor.  “The FOMC will continue to be very gentle in how it removes monetary accommodation,” they wrote in a report.   “A more robust hawkish attitude would only occur if they thought the economy will grow fast enough to place them behind the curve. Still, the risk that they do fall behind the inflation curve, as seen through the eyes of the Gold market, and equity market correction risk suggest investors don’t abandon Gold.”

2. Global Oil markets are on course to reach a supply-demand balance in 2017, the International Energy Agency (EIA) stated today in its closely-watched monthly report issued just 9 days before OPEC’s much anticipated ministerial meeting.  “In the first quarter of 2017, we might not have seen a resounding return to deficits but this report confirms our recent message that re-balancing is essentially here and, in the short term at least, is accelerating,” the IEA said…meanwhile, OPEC appears poised to extend Oil production cuts at its upcoming meeting, perhaps through the 1st quarter of 2018, with most investors expecting the 13-member cartel to continue with its attempts to eliminate a global supply overhang which has depressed prices to less than half their 2014 high…the EIA’s overall outlook for non-OPEC countries, 11 of which are voluntarily cutting production to support OPEC, shows growth of nearly 600,000 barrels a day in 2017, up from last month’s forecast of 490,000 barrels a day…

3.  Commodity prices historically perform the best when the Federal Reserve is raising interest rates, a study from Goldman Sachs shows…annual returns for the S&P GSCI Commodity Index average 19% when the Fed is raising rates in response to a strengthening economy…the Fed has forecast 2 more rate increases this year with the next one likely June 14…that hike could prove to be the trigger for a major summer advance in commodities and the Venture

4. The Venture posted its 4th straight advance yesterday with its best session in 2 months, an 11-point climb on strong volume as the Index finished at a monthly closing high of 805…markets will take the path of least resistance and the Venture’s superb support in the high 700’s appears more powerful than resistance around 850 as the bull market prepares for its next phase…in New York, the S&P 500 and NASDAQ closed at record highs yesterday on strength in Oil and tech stocks…

5.  Quebec Gold stocks grabbed investors’ attention yesterday as Eldorado Gold (ELD, TSX) announced it’s acquiring Integra Gold (ICG, TSX-V) in a deal valued at approximately $600 millionIntegra’s principal asset is the Lamaque Project near Val-d’Or which hosts an NI-43101 Indicated resource of 5.1 million tonnes at a grade of 9.13 g/t Au and an Inferred resource of 3.5 million tonnes at a grade of 7.94 g/t Au, at a cut-off of 5 g/t…just down the Golden Highway from Lamaque is Granada Gold’s (GGM, TSX-V) Granada deposit, and this morning GGM released an updated NI-43101 resource estimate and Global Classified Block Model for Granada with the big surprise being a 10 million tonne maiden Inferred resource grading 4.6 g/t Au (1.5 million ounces) immediately north of the previously known near-surface deposit which is already permitted for production based on the Company’s 2014 Pre-Feasibility Study…GGM stated, “The ‘heat engine’ for Granada mineralization is believed to exist in the northwest part of the property, a high priority untested area now referred to as the ‘Genesis Target’ that includes a large granite intrusion and intense shearing immediately south of the Cadillac fault.  An initial Inferred underground resource of 10,386,500 tonnes grading 4.56 g/t Au at a cut-off grade of 1.5 g/t Au (1.5 million oz. Au) has been outlined along 600 m of strike east of Genesis based on drilling by Granada Gold in late 2016 and early this year.  This is a major development in the evolution of the Granada Property and even higher grades are being targeted in the discovery area and to the west-northwest at Genesis which has never been previously drilled. Significantly, only a fraction of the total area (1.8 km north-south x 2.1 km east-west) north of the LONG Bars Zone Measured and Indicated near-surface resource has been drill-tested, further solidifying Granada as one of the premier exploration and development opportunities along the prolific Cadillac Trend.”  Meanwhile, GGM’s updated Block Model reveals 4.98 million ounces at Granada (1.53 million M&I, 3.45 million Inferred) in areas drilled to date, nearly double the amount estimated in the initial 2012 Block Model…GGM closed yesterday at 7.5 cents for a market cap of just $29 million

6.  In British Columbia, New Gold (NGD, TSX) has decided to pay Parlane Resource (PPP, TSX-V) $2.5 million for its Big Bear Property immediately northwest of New Gold’s Blackwater deposit…while that’s less value than what Parlane was hoping for from Big Bear, it’s nonetheless $2.5 million cash to give the company close to $3 million in the bank…Parlane has only 15 million shares outstanding, so that’s 20 cents per share in cash and the stock closed yesterday at 14.5 cents…the Big Bear sale is subject to a Parlane shareholder vote next month…deal is expected to close by the end of June…

7. Marathon Gold (MOZ, TSX) released updated financials last night, showing the company had $5 million cash on hand at the end of March…it’s also in the process of completing a $16 million bought deal this month through a syndicate of underwriters led by RBC Capital Markets…the proceeds from the financing will fund an aggressive program of infill and extension drilling at the Marathon and Leprechaun deposits; exploration drilling focused on showings between the Victory Northeast area and the Leprechaun deposit and extensions of the Spite deposit with favorable geophysical characteristics; a summer field exploration program including mapping, geochemical soil sampling and prospecting focused on the northeastern part of the Valentine Lake Property where there are indications of Gold mineralization but limited historical exploration activity; advanced environmental studies which will be used in economic studies on the project and for permitting; and a preliminary economic assessment following a resource update to incorporate the results of Marathon’s aggressive 2017 drilling program…MOZ closed at $1.15 yesterday and is viewed as one of our top Gold stocks for 2017

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3 Comments

  1. GRANADA GOLD OUTLINES ROBUST OPEN-PIT AND HIGH-GRADE UNDERGROUND RESOURCES AT GRANADA

    Highlights:

    ⦁ High-grade underground maiden resource, immediately north of near-surface deposit

    ⦁ 1.5 million ounces of gold averaging 4.56 g/t Au in the Inferred category at a cut-off grade of 1.5 g/t Au

    ⦁ Open-pit constrained resources:
    ⦁ 625,000 ounces Measured @ 1.14 g/t Au and 182,700 ounces Indicated @ 1.26 g/t Au at a cut-off grade of 0.39 g/t Au (807,700 ounces M&I @ 1.16 g/t Au);

    ⦁ Major increase in Block Model estimates for Granada vs. 2012 Block Model.

    Granada Gold Mine (TSX.V: GGM) (“Granada Gold” or the “Company”) is pleased to announce that the Company has received an updated Mineral Resource Estimate for its 100%-owned Granada Gold Property near Rouyn-Noranda, Quebec, which includes the first estimate of high-grade resources recently discovered in zones at depth north of the LONG Bars Zone open-pit deposit.

    The updated resource calculation, accompanied by a revised Block Model for the entire area drilled at Granada to date, is the most significant since the Company’s initial discovery of the shallow and expansive east-west LONG Bars Zone in 2010. It underscores the robust nature of mineralizing events at Granada where recent drilling to the north suggests that geologists are closing in on the roots of a deeper high-grade system associated with a vast halo of lower-grade mineralization averaging above 1 g/t Au from surface to a depth of approximately 400 meters, extending 1.4 km east-west and open in multiple directions.

    Comment by Daniel — May 16, 2017 @ 6:52 am

  2. Continued…

    High-Grade Discovery With Maiden Inferred Resource

    The “heat engine” for Granada mineralization is believed to exist in the northwest part of the property, a high priority untested area now referred to as the “Genesis Target” that includes a large granite intrusion and intense shearing immediately south of the Cadillac fault.

    An initial Inferred underground resource of 10,386,500 tonnes grading 4.56 g/t Au at a cut-off grade of 1.5 g/t Au (1.5 million oz. Au) has been outlined along 600 m of strike east of Genesis based on drilling by Granada Gold in late 2016 and early this year. This is a major development in the evolution of the Granada Property and even higher grades are being targeted in the discovery area and to the west-northwest at Genesis which has never been previously drilled.

    Significantly, only a fraction of the total area (1.8 km north-south x 2.1 km east-west) north of the LONG Bars Zone Measured and Indicated near-surface resource has been drill-tested, further solidifying Granada as one of the premier exploration and development opportunities along the prolific Cadillac Trend.

    Comment by Daniel — May 16, 2017 @ 6:53 am

  3. GT Gold to begin Saddle work program June 15
    GT Gold Corp (C:GTT)
    Shares Issued 71,440,031
    Last Close 5/15/2017 $0.37
    Tuesday May 16 2017 – News Release
    Mr. Kevin Keough reports
    GT GOLD RAMPS UP FOR JUNE 15 SADDLE PROGRAM START
    With just a month to go, all permits are in place and all supplier contracts have been let in support of a June 15 start of camp construction at GT Gold Corp.’s promising new Saddle gold target, located on the Tatogga property in northwestern British Columbia, Canada. Camp construction is expected to take several days, following which ground based induced polarization (IP) geophysics, additional geochemical sampling, and reverse circulation (RC) drilling (up to 2,000 metres in 76 holes), will get underway. The results of this work, which is targeted for completion in the first half of July, will be used to guide immediate follow-on diamond drilling (2,600 metres in 22 holes). A second phase of core drilling of similar meterage, to be undertaken in August and September, has been fully financed.
    Readers are invited to review the Company’s press release dated March 1, 2017 for full details of the pending Saddle exploration program. An animated presentation in Microsoft Powerpoint of the Saddle Phase I drill program is also available for download as a .zip file from the Company’s home page at http://www.gtgoldcorp.ca.
    “We’re excited to be the first to drill the impressive Saddle target,” states Kevin Keough, GT Gold’s president and CEO. “It’s classic exploration, and we’re at the point, we hope, of incipient discovery – the point where the value really gets added. We’ve done our homework and have the plan, and team, in place to execute.”
    Charles J. Greig, M.Sc., P.Geo., Vice President, Exploration for GT Gold and a Qualified Person as defined by NI 43-101, has reviewed and approved the technical information in this press release.
    We seek Safe Harbor.
    © 2017 Canjex Publishing Ltd.

    Comment by david — May 16, 2017 @ 7:07 am

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