BullMarketRun.com

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for helpful information and updates.

1. Gold has traded between $1,327 and $1,335 so far today…as of 7:00 am Pacific, bullion is down $3 an ounce at $1,333…Silver has added 3 cents to $17.91…ETF demand for Gold has actually picked up this week during Gold’s pullback with Commerzbank reporting that global ETF holdings are now at their highest level since mid-November of last year…Copper has lost a nickel to $2.96…Nickel has declined 20 cents to $5.20…Crude Oil is up 44 cents at $48.67 after the International Energy Agency said the global Oil surplus was starting to shrink due to robust demand and an output drop from OPEC and other producers…however, a Wall Street journal piece this morning detailed how OPEC Oil exports continue at surprisingly high levels as some countries in the cartel are selling Oil out of storage or reducing domestic consumption, leaving more Crude available to ship overseas despite the modest drop in Oil output…the Saudis are now pushing for monitoring of exports, rather than just production, at a September 22 meeting of producers in Vienna…the U.S. Dollar Index is off one-tenth of a point at 91.78…

2. U.S. producer prices rebounded in August, albeit slightly less than expected, driven by a surge in the cost of gasoline…the Labor Department said its producer price index for final demand increased 0.2% last month after slipping 0.1% in July…in the 12 months through August, the PPI rose 2.4% after advancing 1.9% in July…a key gauge of underlying producer price pressures that excludes food, energy and trade services rose 0.2% last month after being unchanged in July…the so-called core PPI increased 1.9% in the 12 months through August after a similar gain in July…inflation is still running below the Fed’s desired rate…

3. The Dow is off slightly as of 7:00 am Pacific…Apple (AAPL, NYSE) has retreated about 1% in early trading after its unveiling of iPhone® X (“10“) yesterday which the company calls the future of the smartphone – the iPhone X is expected to cost about $1,000 (U.S.), a pricey psychological threshold for consumers that Apple will try to overcome with augmented reality features and other new technology…a JPMorgan strategist has noted that NYSE net debit balance of margin accounts, which is a measure of how much leverage individual investors are using for their stock investments, has been “rising over the past year and the current reading is very close to the record highs seen in mid-2015 or in early 2000“…meanwhile, an analysis by Goldman Sachs reveals that there’s little chance of a stock market slide anytime soon because investors are so worried that one might be coming…correction calls have abounded lately, based at least in some part on the fact that it has been so long since one has occurred…the S&P 500 has gone 14 months without a 5% drop and 19 months since the last full-blown correction, or drop of 10%…the TSX is up 7 points while the Venture has added 1 point to 776 through the first 30 minutes of trading…Spearmint Resources (SRJ, TSX-V) is once again the volume leader after acquiring more ground in the Eskay Camp…

4. Colorado Resources (CXO, TSX-V) has hit high-grade Gold in 2 locations at Inel – in its most northerly drilling along the AK trend, and at Inel Ridge approximately 500 m to the southwest…at the former, CXO cut 1,670.5 g/t Au over 1.4 m including a Pretium-like 4,470 g/t Au (158 ounces per tonne) over half a meter at a shallow depth of just under 40 m in drill hole #81…6 more holes have been drilled immediately north of #81 and results are pending, while additional holes are being completed on the AK trend with CXO expanding its 2017 drilling into the fall…meanwhile, drill hole #55 at Inel Ridge was consistently mineralized from 102 m to the bottom at 249 m including a 2.6-m intercept grading 31.6 g/t Au (1.1 m @ 63.6 g/t)…more drilling is being carried out in this target area where only a limited number of holes have ever been drilled…CXO is up a penny at 40 cents through the first 30 minutes of trading on brisk volume of 1.6 million shares…

5. Cobalt Power Group (CPO, TSX-V) has commenced Phase 2 drilling at its Smith Cobalt Property near the town of Cobalt…the 2,000-m program will feature 10 to 15 holes and will initially focus on evaluating a newly discovered mineralized zone, an impressive outcrop discovery containing multiple individual vein swarms that display at least 3 different orientations…a channel sample taken across 1 of the veins assayed 12.5% Cobalt, 82.2 g/t Ag, 5 g/t Au and 0.53% Ni as reported by the company July 17…CPO also announced this morning that assay results have been delivered to the company by SGS Canada for approximately two-thirds of the samples taken from the Phase 1 drill program…QA/QC is underway and final results will be released when all assays have been received and reviewed…CPO is unchanged at 14.5 cents as of 7:00 am Pacific…

6. The Mackenzie Valley Environmental Impact Review Board has recommended approval of the proposed all-season road for Canadian Zinc’s (CZN, TSX) Prairie Creek mine in the Northwest Territories…Canadian Zinc has obtained all the significant regulatory permits and “social licenses” required to complete construction and development and undertake mining and milling at Prairie Creek, now including construction and use of a winter access road to the mine site…Prairie Creek hosts Measured and Indicated Resources of 8.70 million tonnes grading 9.5% Zn, 8.9% Pb and 136 g/t Ag, which includes a reserve of 7.60 million tonnes averaging 8.9% Zn, 8.3% Pb, and 127.6 g/t Ag…in addition, a large Inferred Resource of 7.05 million tonnes grading 11.3% Zn, 7.7% Pb and 166 g/t Ag and additional exploration potential…the 2016 PFS indicates average annual production of approximately 60,000 tonnes of Zinc concentrate and 55,000 tonnes of Lead concentrate, containing approximately 86 million pounds of Zinc, 82 million pounds of Lead and 1.7 million ounces of Silver…CZN is up 1.5 cents at 21 cents as of 7:00 am Pacific…

7. The Tanzanian government continues to target miners…in another example of global jurisdictional risk, the government authorities there have seized millions of dollars worth of diamonds from a British mining company…the East Africa nation said it’s planning to nationalize the diamonds which were on their way to Belgium for export…London-listed Petra Diamonds (PDL:LN) allegedly under-declared the value of the minerals heading for export, according to government officials…

The Nickel Mountain “Magma Highway”

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine

BullMarketRun.com Special Report

From The AltaGas Camp Near The McLymont Hydroelectric Facility

The Eskay Camp flexed its muscles again today, building on its reputation as one of the world’s most prolific high-grade Gold districts while the hunt for Nickel has expanded several kilometers southeast of Garibaldi Resources‘ (GGI, TSX-V) Nickel Mountain discovery.

Colorado Resources Ltd. (CXO, TSX-V)

The key takeaway from Colorado Resources‘ (CXO, TSX-V) 158 ounce–per-tonne (4,470 g/t) intercept over half a meter, reported following the close today, is that where there’s smoke, there’s fire – and there’s a lot of smoke around the old AK adit at Inel where there has actually been limited historical systematic drilling and sampling.

Colorado has honed in on a high-grade target area and the company reported this afternoon that 6 additional holes were completed (assays pending) at 50-m spacing after the discovery of coarse visible Gold (see below) at shallow levels in drill hole #81.  Assays released today confirmed 1,670.5 g/t Au over 1.4 m in hole #81 including a Pretium-like 4,470 g/t Au over 0.5 m (35.6 m to 36.1 m).

Last year’s drilling along the AK trend by Colorado was further south.  They moved north along this promising trend this summer and more holes are being drilled in this area of structurally controlled mineralization during Phase 2 which will continue into the fall.

Inel has plenty of ability to produce bonanza grades – what a 158 ounce-per-tonne intercept looks like!

CXO shallow intercept from hole #81.

High Grade At Inel Ridge

Approximately 500 m southwest of drill hole #81, at Inel Ridge, hole #55 has intersected 2.6 m grading 31.6 g/t Au (from 191.9 m to 194.5 m) including 1.1 m @ 63.3 g/t Au.  A little deeper, separate 2-m intervals graded 10.5 g/t Au and 7 g/t Au with the hole ending in mineralization at 249 m.  The strength of the mineralizing system is also demonstrated by the broad interval of 73 m returning 1.7 g/t at shallower levels between 102 m and 175 m.   Hole 55 was drilled to test an area 50 m below a 2016 intersection that returned a 1-m intercept of 53.1 g/t Au in hole #42. 

Drilling at Inel Ridge (BMR photo).

Note the rusty rocks and structural fabric in the big rock in the foreground – good sign!  Geologists have identified new mineralized trends at Inel Ridge associated with the 8 km-long Big Rock Deformation Zone, an important secondary structure off the main KSP thrust fault.  Secondary structures off main thrust faults are driving forces for deposits throughout the district.

Very limited drilling at Inel Ridge has ever been carried out.

Updated charts for CXO and other Eskay Heart of Gold Camp plays, plus a spectacular new photo looking toward Nickel Mountain, in the expanded subscriber-only part of tonight’s report.

Check back later today for an additional post and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,322 and $1,330 so far today…as of 7:00 am Pacific, bullion is off $1 an ounce at $1,326 as it consolidates within an upsloping channel defining a trading range between about $1,320 and $1,360 with a strong floor of support at $1,300…Silver has added 5 cents to $17.81…Copper has retreated slightly to $3.01 while Nickel is relatively unchanged at $5.28…Crude Oil is up slightly, just above $48 a barrel, while the U.S. Dollar Index is steady at 91.96…holdings of the world’s largest Gold-backed exchange-traded fund, SPDR Gold Shares, rose 1.2 tonnes yesterday on a down day for Gold after 3 days days of outflows…

2. Some analysts are speculating that the havoc wreaked by major summer storms stands to deepen a global Crude supply glut that has prevented prices from exceeding $50 for more than a trading day since May…by damaging large swaths of the southern U.S. ranging from Texas to South Carolina, with a recovery period expected to take many weeks at least, Hurricanes Harvey and Irma may dent energy demand from consumers and refiners even as drilling continues and Crude is storage is abundant…the effect, analysts say, will be to push millions more barrels of Crude Oil into Oil caverns and floating tankers at a time when storage is already in heavy use…that would undermine efforts by producers such as OPEC to “rebalance” the market by cutting output…

3. Certain Eskay Heart of Gold Camp stocks continue their torrid pace, led by Garibaldi Resources (GGI, TSX-V) which surged to a new multi-year high of $1.58 in early trading…neighbor Metallis Resources (MTS, TSX-V), meanwhile, has identified gabbroic units with disseminated sulphides in 2 areas (newly-named Thunder North and Thunder South) contiguous to the E&L Nickel Mountain Property, as much as 4 km southeast of current GGI drilling…mapping and sampling continue…MTS is still in the midst of a drill program and a top priority, besides Thunder North and Thunder South, is testing the King high-grade Gold target further south…Aben Resources (ABN, TSX-V), awaiting results from 2,400 m of drilling at its Forrest Kerr Project, shot up to a new high of 34.5 cents during the first 30 minutes of trading…results are also pending from Colorado Resources (CXO, TSX-V) which is steady at 40 cents…closeology play Spearmint Resources (SRJ, TSX-V) has firmed on heavy volume after announcing that it has acquired a 100% interest in the EL North 2 prospect bordering GGI…

4. World stocks hit record highs for a 2nd straight day today as investors opted for nominally higher risk assets over havens such as Gold, bonds and the Japanese yen…the Dow has jumped another 74 points after yesterday’s 260-point surge…the TSX is 45 points higher while the Venture, still battling resistance is the 770’s, has edged up slightly to 771….heavy trading continues in Mission Ready Services (MRS, TSX-V) which is trying to overcome resistance at 25 cents…

5. Blue Moon Zinc (MOON, TSX-V) has engaged Sespe Consulting Inc., an environmental engineering firm with a successful track record of permitting mining projects in California…MOON says it and Sespe have had positive discussions with the planning department of the local Country who will be the lead agency for permitting of the Blue Moon Zinc Project…MOON also says it will soon update its NI-43–101 resource estimate to capture current metal pricing as the last NI-43–101 released by the company nearly a decade ago used 75 cents per pound Zinc, $2 per pound Copper, $600 per ounce Gold and $8.50 per ounce Silver…a PEA for Blue Moon is expected to be released during the 1st quarter of next year…MOON is up half a penny at 7 cents as of 7:00 am Pacific…

6. OK2 Minerals (OK, TSX-V), currently drilling its Pyramid Copper-Gold Property north of Dease Lake, has pushed higher in early trading after releasing surface sampling results from its Kinskuch Property 50 km southeast of Stewart…field crews completed a month-long mapping plus silt and rock sampling program which included visiting all 3 targets within the Kinskuch claim package – Big Bulk, Golden Mickey, and the VMS claims…the key takeaway is that Kinskuch has high tonnage potential and may host a much larger Gold-rich calc-alkaline porphyry system than historical work indicated…

7. Precipitate Gold (PRG, TSX-V) has eased off on light volume in early trading after more lackluster results from continuing drilling at Ginger Ridge in the Dominican Republic…bests results from 8 shallow holes was 10.47 m @ 0.83 g/t Au and 0.20% Zn (EA-17-03) and 3.04 m @ 2.1% Zn and 0.20% Cu (EA17–06)…Jeffrey Wilson, President and CEO, stated:  “We are encouraged by results received from the initial drill testing at the East Zone, as we now have identified multiple intercepts of Gold and base metal values and generated encouraging new technical insight to guide the next phases of drilling within this emerging zone. Initial drill data shows that the East Zone mineralization is extensive and hosted in a volcanic setting similar to GoldQuest Mining’s Cachimbo Zone located only 3 km on strike to the northwest. The discovery of Zinc-Copper enriched rocks in holes 3 and 6 substantiates the VMS working model and provides important guidance in our ongoing data examination and planning. It is important to note that most of the East Zone’s geochemical anomaly remains undrilled.”

The Nickel Mountain “Magma Highway”

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine

Check back later today for Daniel’s Den and visit the BMR comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,331 and $1,339 so far today…as of 7:00 am Pacific, bullion is down $12 an ounce at $1,334…technically, Gold is staging a healthy retreat from the top of an upsloping channel on its 9-month chart as shown in our Week In Review And A Look Ahead yesterday…in addition, the “safe haven” bid cooled off somewhat after North Korea failed to conduct a missile test (as expected) over the weekend while Hurricane Irma wreaked less damage than feared in Florida, though it’ll likely still rank as one of the costliest in history according to JPMorgan…Silver has declined 11 cents to $17.82…Copper and Nickel are both up slightly at $3.04 and $5.25, respectively…Crude Oil has dipped 38 cents to $47.10 while the U.S. Dollar Index has rallied one-fifth of a point to 91.67…

2. Speculative investment in Gold, not surprisingly, has increased as hedge funds and money managers raised their net long position in COMEX Gold for the 8th week in a row to the highest in nearly a year…the net long to short ratio is above 20 which hasn’t been seen for almost 5 years…meanwhile, China’s central bank is easing requirements for financial institutions to set aside foreign-exchange risk reserves for trading yuan forwards…the move comes as the Chinese currency recently erased its entire decline from 2016…

3. Alamos Gold (AGI, TSX) has signed a friendly deal to acquire Richmont Mines (RIC, TSX) in an all-stock offer valued at about $933 million ($770 million U.S.)…under the agreement, Richmont shareholders will receive 1.385 Alamos shares for each Richmont share they hold…the offer implies a value of $14.20 per Richmont share based on the closing price for Alamos shares last Friday when RIC closed at $11.62…once the deal is completed, Richmont shareholders will own approximately 23% of the combined company…concurrent with the deal, RIC will sell its Quebec assets including the Beaufor Mine, Camflo Mill, Wasamac development project as well as all other mineral claims, mining leases and mining concessions to Monarques Gold (MQR, TSX-V)…RIC is up 82 cents to $12.44 as of 7:00 am Pacific…

4. A court finally delivers some common sense – the Guatemalan Supreme Court has reinstated the mining license for Tahoe Resources‘ (THO, TSX) subsidiary in the country, Minera San Rafael, the company announced late yesterday…Tahoe’s Escobal mine is one the largest Silver mines in the world, producing 21.2 million ounces of Silver concentrate during 2016, but became a target of radical environmentalists…for now, a road blockade is still keeping the mine closed…however, Tahoe said reopening the mine should occur within a week after the blockade is lifted…THO has surged $2.58 a share to $8.27 as of 7:00 am Pacific…

5. The news is not so good for Eldorado Gold (EDG, TSX) in Greece…the company reported this morning that despite its repeated attempts to engage constructively with the Greek government, the Ministry of Energy and Environment and other government agencies, delays continue in issuing routine permits and licences for the construction and development of the Skouries and Olympias projects in Halkidiki, northern Greece…these permitting delays have negatively impacted Eldorado’s project schedules and costs, ultimately hindering the company’s ability to effectively advance development and operation of these assets…Eldorado has therefore elected to suspend investment at its operating mines, development projects and exploration assets in Greece with the exception of a care and maintenance program and necessary environmental safeguarding costs…

6. The Dow has jumped nearly 200 points in early trading…the TSX is 71 points higher while the Venture, still battling resistance is the 770’s, is flat at 772 as of 7:00 am Pacific…for the 4th straight session, Mission Ready Services (MRS, TSX-V) is the Venture’s most active stock, off 1.5 cents at 23.5 cents through the first 30 minutes of trading…the company announced last Wednesday that it has signed a 5-year, multi-million-dollar exclusive distribution agreement with a U.S.-based contracting partner to manufacture and supply Flex9Armor and No-Contact Tactical Shield Covers – among other Protect The Force (PTF) products – for a large foreign military…Friday’s 25-cent close left MRS at resistance at the top of a long-term downtrend line on a multi-year monthly chart…

7. Canopy Growth (WEED, TSX) is higher in early trading after announcing that it has has signed a supply licence agreement with Alcaliber SA, a leading player in the international pharmaceutical industry based in Spain…Alcaliber specializes in research and development, breeding and cultivation, and the extraction, purification and preparation of Narcotic Raw Materials and Active Pharmaceutical Ingredients…the agreement is the first of its kind between a Canadian cannabis company and a significant, established international pharmaceutical player…

The Nickel Mountain “Magma Highway”

Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember

How To Bring A Junior Resource Market To Life!

The Dramatic New Chase For A Nickel-Copper-Rich Massive Sulphide Deposit In The Heart Of A Famous Gold Camp

Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies

The Most Important Venture Development Since The New Bull Market Began

CSR Builds Momentum At Castle Mine