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From AltaGas Camp Near McLymont Hydroelectric Facility, SE of Eskay Creek

The Venture continues to tease the bulls with the Index dancing on the edge of a breakout into the 780’s and beyond.   The catalyst could come from one or more companies aiming to tap into the incredible metal endowment of the Eskay Camp.

The Eskay Creek mine, one of the richest ore discoveries ever (precious metal enriched VMS, main shaft on right side of photo). The Nickel Mountain Nickel-Copper discovery, 11 miles to the southwest, is a younger mafic-ultramafic event that post-dated VMS-style mineralization in the area (BMR photo).

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 $1,346 and $1,358 so far today…as of 7:00 am Pacific, bullion is down $1 an ounce at $1,346…continued weakness in the greenback and doubts that the Federal Reserve will raise interest rates a third time in 2017 amid sluggish inflation pushed Gold to a new 52-week high overnight with the yellow metal on track for its 3rd straight weekly gain…Silver has slipped 5 cents to $18.05 as it grapples with resistance at $18.10, but charts indicate it has a high probability of overcoming that wall relatively soon…base metals have eased off this morning with Copper down 7 cents to $3.05 while Nickel has corrected 19 cents to $5.28… Crude Oil is 15 cents lower at $48.94 while the U.S. Dollar Index has fallen another one-third of a point to 91.07…

2. Bloomberg Intelligence’s Mike McGlone, who was calling for Gold to bust through $1,300 an ounce in early August – over a week before the metal actually did – is now calling for $1,400 Gold.   “Unless the dollar suddenly shifts to sustained strength and the CBOE Volatility Index (VIX) plunges, Gold should have few options but to continue higher,” the commodities strategist noted in a report yesterday.  “Gold appears on a mission to convert the $1,300 handle to $1,400.”

3. North Korea reportedly moved an ICBM toward its west coast earlier this week, according to the South Korean paper Asia Business Daily…the rocket was moved in the overnight hours, apparently to avoid detection…if the test is conducted, it would be the 14th one since February…North Korea has fired 21 missiles this year and last Sunday’s nuclear test was the 6th one in its history…the rogue nation’s version of America’s Independence Day is tomorrow, so expect some fireworks from Kim Jong-un…

4. As Hurricane Irma takes direct aim at Florida, the most powerful earthquake in a century has struck Mexico’s southern coast…meanwhile, GoldQuest Mining (GQC, TSX-V) reported this morning that Irma has had minimal impact on its operations in the Dominican Republic…GoldQuest’s operational area in the San Juan province experienced heavy rains but not the severe high winds which impacted northern parts of the DR and other islands in the Caribbean…as a prudent precaution, the company paused field activities yesterday and anticipates returning to its programs including drilling at the Cachimbo discovery tomorrow…

5. Hurricanes Harvey and Irma actually will lead to increased economic activity over the long run, New York Fed President William Dudley told CNBC in an interview this morning…speaking just as Irma is about to start battering Florida as a Category 4 storm, Dudley said the initial impact in both human and economic costs will be harmful…but in the long run, economies tend to snap back from such major events.  “Those effects tend to be pretty transitory,” Dudley stated.  “The long-run effect of these disasters unfortunately is it actually lifts economic activity because you have to rebuild all the things that have been damaged by the storms.”

6. The Venture is off slightly at 774 through the first 30 minutes of trading as it continues to grapple with resistance in the 770’s…another strong week for Garibaldi Resources (GGI, TSX-V) which is on track for its 10th consecutive million share trading day…the stock has traded at least a million shares in 24 out of the last 29 sessions thanks to a growing realization of an important new Nickel-Copper-rich sulphide discovery, the only such system in the entire Golden Triangle…helicopter reconnaissance in the area is showing increased activity along the Nickel Mountain-Kirkham (Metallis) Property border…Granada Gold (GGM, TSX-V), unchanged at 4.5 cents, has hit extreme oversold conditions…the TSX is off 22 points while the Dow has slipped 29 points as of 7:00 am Pacific…

7. Tweed Farms, a wholly owned subsidiary of Canopy Growth (WEED, TSX) and operator of the largest known licensed cannabis production facility in the world, has finalized the purchase of a parcel of land adjacent to its current facility in Niagara-on-the-Lake, Ontario, including an operational 458,000-sq. foot greenhouse…in addition to the newly acquired asset, construction has commenced on an additional 212,000 sq. feet of state-of-the-art greenhouse to be located on the current Tweed Farms property, to be completed by April, 2018…all told, Tweed Farms will soon be home to over 1 million sq. feet of greenhouse space under glass, plus post-harvest facilities…WEED has jumped 36 cents to $9.37 after 30 minutes of trading…

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 additional posts and visit the BMR comments section for updates and helpful information.

1. Gold has traded between $1,334 and $1,349 so far today…as of 7:00 am Pacific, bullion is up $10 an ounce at $1,344…Silver has surged 16 cents to $18.01 with key resistance around $18.10…Copper is off slightly at $3.11 while Nickel has slipped 5 cents to $5.41…Cobalt prices continue to trade just shy of $28 a pound…Crude Oil has retreated 22 cents a barrel to $48.94…as of yesterday, about 3.8 million barrels of daily refining capacity, or some 20% of the U.S. total, was shut in due to the affects of Hurricane Harvey, although a number of refineries, as well as petroleum-handling ports, were restarting…in Libya, meanwhile, the Sharara Oilfield, the country’s largest, is resuming production after the reopening of a valve on a pipeline shut by an armed group for more than 2 weeks…Crude is getting support today from a declining greenback as the U.S. Dollar Index has plunged half a point to 91.73…

2. Gold prices got a boost from ECB President Mario Draghi’s comment this morning that interest rates will remain at present levels well past the end of the central bank’s quantitative easing program…Draghi spoke during a news conference following the ECB decision to leave rates unchanged…the central bank also said that monetary policy accommodation is still very much needed and left room for additional stimulus if required.  “If the outlook becomes less favorable, or if financial conditions become inconsistent with further progress towards a sustained adjustment in the path of inflation, the Governing Council stands ready to increase the program in terms of size and/or duration,” the ECB said in a statement…

3. President Trump stunned Republicans yesterday when he overrode pleas from GOP congressional leaders and sided with Democrats on a proposal to attach emergency aid for Hurricane Harvey victims to measures to keep the government funded and its borrowing limit suspended until mid-December…averting an imminent crisis over the debt ceiling issue – kicking the ball further down the road – has been a contributing factor to pressure on the dollar today…meanwhile, the loonie has climbed above 82 cents U.S. following yesterday’s rate hike by the Bank of Canada and fresh weakness in the greenback…

4. The Venture is up slightly to 774 through the first 30 minutes of trading as it continues to grapple with resistance in the 770’s…Spearmint Resources (SRJ, TSX-V) is the second most active trader after announcing that it has acquired a 100% interest in the EL North Nickel-Copper prospect (1,975 contiguous acres) bordering Garibaldi Resources’ (GGI, TSX-V) E&L Nickel Mountain Project in the heart of the Eskay Camp…Metallis Resources (MTS, TSX-V) is in the best position relative to GGI with claims contiguous to the southeastern border of Nickel Mountain…MTS, with only 23 million shares outstanding, has hit a new high of 53 cents in early trading…the TSX Gold Index is up 2 points to 209 on higher bullion prices…the TSX is off 22 points while the Dow has slipped 29 points…

5. Richmont Mines (RIC, TSX) reported strong 2nd quarter results this morning…Q2 earnings were $10.5 million (CDN) or 17 cents per share on total revenue of $59.3 million…net free cash flow was $19.2 million…company-wide production of 31,249 ounces of Gold was delivered through All-In-Sustaining costs of of $957, positively impacted by record low AISC of $677 per ounce from the high-grade Island Gold mine…the company’s cash balance at the end of the quarter increased to $95.9 million…President and CEO Renaud Adams stated, “This strong operational and cost performance drove robust cash flow streams even during a period of accelerated investment in our strategic expansion and exploration programs at Island Gold…our focus remains on creating sustainable shareholder value by driving ongoing operational and cost-efficiencies throughout the organization and maintaining our disciplined approach to capital allocation. Over the balance of the year, we will continue to focus on further unlocking the potential of the Island Gold mine as we position the operation to be one of the lowest-cost producers in the Americas.”

6. Marathon Gold (MOX, TSX) released fresh drill results this morning from its Marathon deposit in the Valentine Lake Camp, confirming the continuity of good Gold grades through the 75-100-m wide and more than 500–700-m deep mineralized corridor of the deposit…drilling down the east edge of the main mineralized corridor intersected high-grade Gold values including 3.45 g/t Au over 20 m with 5.60 g/t over 9 m and 12.85 g/t over 6 m in MA-17–189, and 2.85 g/t Au over 15 m including 30.72 g/t over 1 m in MA-17–190…steep drilling across the main mineralized corridor intersected 1.73 g/t Au over 43 m with 4.36 g/t over 6 m, 2.11 g/t over 19 m and 4.72 g/t over 5 m in MA-17–196, and 3.39 g/t Au over 28 m including 16.71 g/t over 5 m in MA-17–199…4 drill rigs are operating 24/7 at the Marathon deposit as work continues on expanding the open-pit resource along strike to the southwest, deepening the open-pit resource in the central portion of the deposit and expanding the underground resource…Marathon has now completed 31%, of its planned 60,000-m drill campaign, including yet to be released results from drilling at the Leprechaun deposit…

7. Gold miners in Western Australia state are being hammered with a 50% increase in royalty payments under measures released today that are designed to return the one-time “economic engine of a nation” to fiscal health via revenue from the mining sector…the royalty hike to 3.75% from 2.5% per ounce of Gold is expected to raise an additional A$392 million ($313 million U.S.) over 4 years and is aimed at helping to repair the state’s finances following the mining boom collapse of a half-decade ago, according to Western Australia Premier Mark McGowan…last year the state accounted for about 80% of the 287 tonnes of Gold mined in Australia – the world’s second-biggest producer after China – and received A$250 million in royalty payments…Gold miners said they could not afford the hike in payments to the government…Western Australia in fiscal 2017 showed a budget deficit of A$3.04 billion…

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 for Daniel’s Den and visit the comments section throughout the day for updates and helpful information.

1. Gold has traded between $1,326 and $1,338 so far today…as of 7:00 am Pacific, bullion is unchanged at $1,339 an ounce…over the past 2 decades, September has proven to be Gold’s best month of the year with gains 70% of the time and an average return of 2.6%…Silver is up slightly at $17.93 with key resistance around $18.10…Copper is off slightly at $3.11 while Nickel has slipped 5 cents to $5.41…Cobalt prices continue to trade just shy of $28 a pound…Crude Oil is 39 cents higher at $49.04 while the U.S. Dollar Index is relatively flat around 92.20…holdings of Gold by global exchange-traded funds rose by 31.4 tonnes during August, according to the World Gold Council in a new monthly report issued today…for the year to date, global Gold-backed ETFs have added 143.5 tonnes, equivalent to $5.3 billion, the Gold Council said…European funds have the most inflows so far this year at 131 tonnes, accounting for nearly 79% of all inflows worldwide…North America inflows are 22 tonnes while Asian ETFs posted outflows of 10 tonnes…

2. The loonie has added more than a full cent to 81.95 as the Bank of Canada this morning has hiked its key interest rate by one-quarter of a point to 1.0%, the 2nd time this year the central bank has moved the benchmark higher…the bank cited Canada’s stronger-than-expected economic performance for the hike, warranting a removal of some of the “considerable” stimulus that has been in place for an extended period…at the same time, however, the bank cited concern about continued excess capacity, subdued wage and price pressures, risks associated with geopolitical events and the rising Canadian dollar, along with worries about the impact of higher interest rates on indebted households…

3. The introduction of a federal carbon tax could “shrink” Canada’s GDP by as much as $3 billion in 2018 and lead to a slight depreciation of the Canadian dollar, a new report says…in a study released yesterday, the Conference Board of Canada said the tax could cause a broad slowdown in economic activity as “higher energy prices ripple throughout the economy”…prices for natural gas, gasoline, electricity and other goods will rise, collectively raising costs of goods and services…we can thank climate change fanaticism, Canada’s new religion,  for that…meanwhile, almost half (47%) of Canadian employees say they’d be hard-pressed to meet their financial obligations if their paycheques were delayed by even a week, according to a new survey today from the Canadian Payroll Association (CPA)…

4. The Venture is up 2 points to 781 through the first 30 minutes of trading…Garibaldi Resources (GGI, TSX-V)  has hit another new decade high of $1.16 with the second hole in progress at Nickel Mountain, 11 miles southwest of Eskay Creek…southern neighbor Metallis Resources (MTS, TSX-V), with only 23 million shares outstanding and in the midst of its own drill program and regional exploration, is up a penny at 47 cents…initial assay results from continuing drilling at the KSP Project are expected soon from Colorado Resources (CXO, TSX-V) which is seeing upward pressure as well this morning…results from the first 5 holes drilled this year into the Iron Cap deposit at Seabridge Gold’s (SEA, TSX) KSM Project could warrant significant changes to the project’s mine plan which could substantially improve the overall economics, the company reported this morning…4 of the 5 holes have long intercepts with Gold grades above 1 g/t…elsewhere in B.C., Barkerville Gold (BGM, TSX-V) has drilled 53.26 g/t Au over 11.55 m in the Shaft zone in ongoing Phase 2 Island Mountain drilling at its flagship Cariboo Gold Project…the high-grade result from infill drilling was at a vertical depth of 400 m below surface and helps further define wide corridors of sandstone-hosted high tenor veining open for expansion in all directions in the Shaft zone…a jump in Silver prices is helping Maya Gold & Silver (MYA, TSX-V) which is producing and exploring in Morocco…the TSX is off 8 points while the Dow has recovered 66 points after yesterday’s slide prompted by nervousness surrounding North Korea…

5. Critical Elements (CRE, TSX-V) is up slightly in early trading after releasing positive Feasibility Study results on the Rose Lithium-Tantalum Project in James Bay, Quebec…highlights include after-tax NPV of $726 million (at 8% discount rate) and after-tax IRR of 34.9% based on price assumptions of $1,500 (U.S.) per tonne technical grade Lithium concentrate, $750 (U.S.) per tonne chemical grade Lithium concentrate, and $130 (U.S.) per kg Tantalum pentoxide…estimated initial capital cost is $341.2 million before working capital…anticipated construction time to start of production is 21 months…expected life of mine of 17 years…

6. First Cobalt (FCC, TSX-V) announced this morning that it has filed an independent National Instrument 43–101 technical report on its Greater Cobalt Project located near Cobalt, Ontario…the project area covers 43 sq. km in the neighbouring historic towns of Silver Centre and Cobalt…the report describes the geological setting of the Camp and provides a detailed history of past production, noting that 3 historic mines within the Greater Cobalt Project (the Keeley, Frontier and Bellellen mines) produced an aggregate of 3.3 million pounds of Cobalt and 19.2 million ounces of Silver…by assuming the Woods Vein accounted for 70% of Cobalt production from Keeley-Frontier, the technical report concludes that the average feed grade was about 0.8% Co and possibly higher due to unreported Cobalt content in Silver concentrates…Trent Mell, President & CEO, commented:  “The technical report supports our position that the Cobalt Camp has the potential to host new Cobalt discoveries amenable to bulk mining.  A 7,000-m drill program at Keeley-Frontier and the surrounding region commenced August 8 and we look forward to announcing the first assay results in the near future.”

7. Cornerstone Metals (CCC, TSX-V) has completed its due diligence on the Carlin Vanadium Project and is proceeding to the definitive agreement stage…the company announced just under a month ago that it had entered into a non-binding LOI with Americas Gold Exploration Inc., a private Nevada corporation, to acquire a 100% interest in its underlying option agreement on the Carlin Project which features one of the largest known primary Vanadium deposits in the United States…SRK Consulting Inc. reported an NI-43–101 Inferred mineral resource in a 2010 technical report, outlining Inferred resources of 28 million tons (289 million pounds V205) at a weighted average grade of 0.515% Vanadium-pentoxide (V2O5) using a cut-off-grade of 0.30% V205…CCC is trading at 8 cents for a market cap of only $1.8 million…

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