BullMarketRun.com

From Rouyn-Noranda, Quebec:

BullMarketRun is launching a new feature today from Rouyn-Noranda – BullMarketRun TALK, a 20 to 30-minute show that we intend to build into a new regular weekly feature at BMR.  Today’s premier edition features Gold Bullion Development President (GBB, TSX-V) and CEO Frank Basa as well as BMR’s technical analyst for a look at the CDNX and GBB.

BullMarketRun TALK (June 3)

Readers may wish to print this out for references purposes for today’s first edition of “BullMarketRun TALK“.

CDNX chart through June 2, 2010.

Readers may wish to print this out for reference purposes for today’s discussion of GBB’s chart on “BullMarketRun TALK“.

Gold Bullion Development Chart through June 2, 2010

From Rouyn-Noranda, Quebec (10:45 am eastern time):

Gold is off $7 an ounce as of 10:45 am eastern time this morning at $1,217…the CDNX, now supported by a rising 10-day moving average, is 2 points higher at 1486…BullMarketRun is launching a new feature later today – BullMarketRun TALK, a 25-minute show that today will feature Gold Bullion Development (GBB, TSX-V) President and CEO Frank Basa as well as BMR’s technical analyst…today is our second full day in Rouyn-Noranda, a city with a rich mining history and home to Gold Bullion’s Granada Gold Property which is just five kilometres south of the city centre…Gold Bullion is trading at 41.5 cents this morning, down 1.5 cents on the day…the stock remains in a clear uptrend, however, as confirmed by our technical analyst who discusses GBB and the CDNX in general on BullMarketRun TALK today…we continue to keep an eye on Seafield Resources (SFF, TSX-V) which is expected to close a $2.5 million financing tomorrow…based on technical and fundamental factors, we believe SFF has an excellent chance of showing some real strength for the first time in a few months…North Arrow Minerals (NAR, TSX-V) is up half a penny to 18.5 cents…North Arrow will start to “ground truth” its Lac de Gras drill targets this month in preparation for a major exploration program this summer…Dr. Chris Jennings, one of the world’s foremost authorities on diamond exploration, has used proprietary technology to identify 70 high priority untested kimberlite targets on North Arrow’s 100,000 acres at Lac de Gras…the rich Diavik deposit trends through the centre of North Arrow’s properties…the weakness in Richfield Ventures (RVC, TSX-V) recently makes no sense as the stock dropped as low as $1.10 yesterday…RVC is up 2 cents this morning on light volume to $1.17…

From Rouyn-Noranda, Quebec:

Gold Bullion Development (GBB, TSX-V) is on a mission – drill, drill, drill, and drill some more.  The Granada Gold Property, just five kilometres south of Rouyn-Noranda, Quebec, is a hub of activity at the moment with two drill rigs going 24/7 and a team of geologists, technicians and other personnel working long hours but showing a sense of urgency and excitement as Gold Bullion attempts to prove up another “Cadillac Trend” multi-million ounce gold deposit.

My first day at Granada and the LONG Bars Zone yesterday was an eye-opener and further confirmation that what’s unfolding here is highly significant with immense blue sky potential.  The local newspaper has finally caught on to the story (a reporter is visiting the property tomorrow) and the economic impact a potential large open-pit mine could have on the community – this is northwestern Quebec where mining is part of the cultural fabric, accepted and embraced by a wide segment of the population.   Some newsletter writers and mining analysts are chomping at the bit to get here and they will, so coverage of one of the best exploration plays in the country right now is about to expand significantly beyond BMR and the Coffin Brothers.

We’ve all heard of the expression, “Go west, young man.  Go west.”  Around the Granada Gold Property what you hear is,  “Go east and keep going east.”  Mineralization is open in all directions at Granada but geologists can’t wait to get beyond Discovery Hole GR-10-17, the easternmost hole drilled to date by Gold Bullion, and that time is coming soon.  “We’ll go east and continue going east,”  GENIVAR’s Nathan Jourdain told me yesterday.  In keeping with BMR’s daring and adventurous spirit, I asked Nathan if he’d consider taking me as far east as possible at Granada in an ATV to check things out.  He agreed, so that’s on the agenda for later today or tomorrow.  There’s gold out there but also bears so please keep us in your prayers!

Based on historical reports and the evidence from Phase 1 drill results, the strike length of this deposit going east is likely several kilometres.  It doesn’t take a rocket scientist to figure out how this deposit could double, triple or even quadruple in size  from the current estimate (non-43-101 compliant) of 2.4 to 2.6 million ounces when that estimate excludes the east-northeast extension and also anything below a depth of 300 metres within the Preliminary Block Model.

Will continued aggressive drilling (and a little bit of good luck) ultimately “Super Size” the LONG Bars Zone?  We believe it will which is why it’s so important, in our view, to be thinking LONG and staying LONG with Gold Bullion.

Below are just a few of the many pictures we took yesterday from the LONG Bars Zone:

This is one of two pump shacks (at Pit #2 East) currently on the Granada Property, delivering water to drill rig #1. Each pump shack has a 1,500 metre hose.

GENIVAR's Nathan Jourdain standing at GR-10-28, one of six holes drilled from just north of the waste pile. The strategy behind this hole and the other five was to intersect the No. 1 Vein at depth.

This picture overlooks the northern edge of the waste pile where Phase 2 drilling started in an attempt to intersect the north-dipping Preliminary Block Model structure at depth.

7:30 am Eastern Time

From Rouyn-Noranda, Quebec:

It’s a wonderful feeling to once again be back in the world’s #1 jurisdiction for mining and exploration…BullMarketRun has returned to the “Golden Highway”, the prolific “Cadillac Trend”, where an astonishing amount of gold has and is being mined…this is truly one of the greatest gold mining areas in the world and in our estimation Gold Bullion Development’s Granada Property will soon be the next multi-million ounce deposit in northwestern Quebec…we have an extremely busy first day here which is beginning early, well in advance of the 9:30 eastern time market opening bell, so this morning’s BMR “Musings” will not be updating any of the initial trading action…it’s soon time to venture into the LONG Bars Zone, boots, hard hat and all…Gold Bullion (GBB, TSX-V) came out with news yesterday – clear and businesslike – and as luck would have it, it appears they’ll be drilling right around Discovery Hole GR-10-17 when we get to the property this morning…Gold Bullion has completed 11 holes and 2400 metres of drilling so far…one of the great things about this company is that it does what it says it’s going to do…President and CEO Frank Basa told BMR a couple of weeks ago that a second drill rig was arriving on the property by early June, and indeed that’s exactly what happened – on the very first day of the month…while the original rig drills fresh holes around the northeast discovery area and progresses further east, this second rig is going to handle in-fill definition drilling within the Block Model…the two-pronged strategy is to generate a NI-43-101 for the area within the Preliminary Block Model (2.4 to 2.6 million ounces is the current non-43-101 estimate) and go after all the blue sky potential outside the Block Model as demonstrated by GR-10-17 which is the easternmost hole drilled to date by Gold Bullion…our theory, and we’ll expand on this over the next few days,  is that the current Block Model is ultimately going to prove up  considerably more than 2.4 to 2.6 million ounces especially when deeper holes are drilled (300 to 500 metres)…the LONG Bars Zone eastern extension could go on for several kilometres…mineralization is open in all directions here…so the possibility of a world class bulk tonnage, open-pit deposit three or four times the current estimate is very realistic…Gold Bullion closed at 44.5 cents yesterday, a half penny jump on a down day for the CDNX and all the major markets…in our view June is going to get a lot better and now’s an ideal time to focus in on special opportunities presented by companies such as Gold Bullion and others that have strong balance sheets and an aggressive approach to exploration…on that note, we suggest investors do their due diligence on Manitou Gold (MTU, TSX-V) which just started trading on the Venture Exchange in March…Goldcorp Inc. (G, TSX) has a 15% stake in Manitou which has assembled a very attractive package of properties in the Gold Rock mining camp of northwestern Ontario near Kenora…Manitou is currently drilling the former producing Big Master Mine at its Kenwest Property…the company has approximately $2 million in the bank and is raising another $3 million on flow-through financing at 75 cents…Manitou has only 22 million shares outstanding…the stock closed yesterday at just 43 cents…Seafield Resources (SFF, TSX-V) is expected to close a $2.5 million financing at 17.5 cents by Friday…technical and fundamental factors both suggest that Seafield is very close to making another strong push to the upside…once the financing is out of the way, the stock should have little problem moving higher especially with drilling commencing soon at Seafield’s Colombian properties…

Gold is strong this morning and as of 7:30 am Pacific time is up $9 to $1,225 per ounce…the CDNX is off 7 points to 1507 in sympathy with early weakness on the TSX…it’s a good day to accumulate as we believe June will be a strong month with the CDNX moving considerably higher… Gold Bullion Development (GBB, TSX-V) continues to motor along…GBB has been in a range of 43 to 44.5 cents this morning and after one hour of trading is off half a penny to 43.5 cents…BMR departs today for Rouyn-Noranda and the Granada Gold Property…our first full day in Rouyn will be tomorrow and we’ll be there through Saturday for our second on-site visit of this developing and potential world class bulk tonnage, open-pit deposit…Seafield Resources (SFF, TSX-V) is showing strength this morning…Seafield is up half a penny to 18.5 cents on nearly 1 million shares…Seafield’s proposed $2.5 million private placement is expected to close by Friday…we believe some fireworks will start with this stock shortly after that…now is the time for positioning…another excellent opportunity at the moment is Richfield Ventures (RVC, TSX-V) which has dropped all the way into the $1.20’s…in April this stock was trading over $2 and there’s no fundamental reason for such a large decline…RVC is technically very oversold and it’s important to note the drop in the share price has been on low volume and the stock is supported by a rising 200-day moving average…we expect continued good results this summer from Richfield’s Blackwater Gold Project in central British Columbia which has world class bulk tonnage potential, similar to Granada…we’re keeping a close eye on a company called Manitou Gold (MTU, TSX-V)…we suggest investors do their due diligence on this situation…Manitou is a new issue – it came on the Venture Exchange in March – and holds a dominant land position in the Gold Rock mining camp in northwestern Ontario where it’s currently drilling its Kenwest Property, very close to Seafield’s Elora Property…Manitou has 22 million shares outstanding, nearly $2 million cash in the bank, and is raising another $3 million on a flow-through private placement at 75 cents…the stock closed yesterday at 45 cents…MTU has been a fairly thin trader but we believe liquidity will improve once more investors get familiar with this company…Goldcorp holds a 15% stake in Manitou and we like the company’s properties, strong cash position and aggressive exploration approach…