BullMarketRun.com

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

1. Gold has traded between $1,326 and $1,338 so far today…as of 7:00 am Pacific, bullion is up $1 an ounce at an $1,332…bullion hit a nearly 1-year high overnight as the risk-off theme continued following another flight to safety after North Korea’s hydrogen bomb test yesterday…Gold is also benefiting from a less hawkish Fed…Silver has added 7 cents to $17.95…Copper and Nickel are flat at $3.12 and $5.51, respectively…Crude Oil has surged $1.26 a barrel to $48.55 while the U.S. Dollar Index is off slightly at 92.55…investor interest in Gold can be seen in the holdings of physically-backed exchange traded funds, which at 54.757 million ounces are up more than 3% in less than a month…

2. Crude Oil prices have firmed up while gasoline prices have eased as the gradual restart of refineries in the Gulf of Mexico that were shut by Hurricane Harvey raised demand for Crude and curtailed fears of a serious supply crunch…Texas yesterday edged toward recovery from the devastation of Hurricane Harvey as shipping channels, Oil pipelines and refineries restarted some operations…8 U.S. Oil refineries with 2.1 million barrels per day of refining capacity, or 11.4% of the U.S. total, were shut as of yesterday afternoon, the Department of Energy said…meanwhile, Crude is also getting a lift from reports that Russia and Saudi Arabia have discussed extending an Oil output cut by OPEC and non-OPEC producers…Iranian Oil Minister Bijan Zangeneh said unofficial talks were under way to extend the cuts, adding that global Crude inventories remained at high levels…

3. The Venture, bucking the trend of the broader equity markets today, is up 5 points to 783 through the first 30 minutes of trading as the Index gets a boost from Eskay Camp stocks in its attempt to finally overcome stiff resistance in the 770’s…a broad band of resistance stretches from 770 to 800…the Venture could accelerate rapidly on any breakout through 800…ATAC Resources (ATC, TSX-V), pushing toward its 2016 high after positive results from Rackla last week, is up another 2 pennies at 81 cents…the TSX has dipped 81 points while the Dow has slid 94 points through the first 30 minutes of trading on investor nervousness surrounding North Korea…

4. Eskay Camp stocks are hot to begin the new trading week, led by Garibaldi Resources (GGI, TSX-V) which has hit a new decade high of $1.10 following news Friday that the company has intersected 2 long intervals of Nickel-Copper sulphide mineralization, featuring disseminated to heavy disseminated pyrrhotite-pentlandite-chalcopyrite, at the E&L Nickel Mountain Project…the first hole was drilled away from the historic mineralized zones, adding to growing evidence that the system is much more robust than original explorers imagined half a century ago…Garibaldi also announced that it’s “accelerating” the Nickel Mountain program which likely means the addition of a second drill rig…a high-grade Nickel-Copper deposit in the heart of the Gold-rich Eskay Camp would be a major game-changer for the district and the entire Golden Triangle…Metallis Resources (MTS, TSX-V) has hit a new multi-year high of 48 cents as the company continues drilling at its Kirkham Property adjoining GGI’s E&L to the south…in addition, MTS has announced that it has launched a fresh ground exploration program…meanwhile, Colorado Resources (CXO, TSX-V), now the backing of Goldcorp (G, TSX), has added 3 cents to 42 cents…CXO continues to vigorously drill its 100%-owned KSP Gold Project to the west and initial assay results are pending…CXO also owns a key land package immediately adjacent to GT Gold’s (GTT, TSX-V) high-grade Gold discovery in the Red Chris district…GTT delivered a second batch of impressive assays last Thursday from diamond drilling in its Saddle South zone with numerous holes hitting multiple intercepts of high-grade mineralization…

5. Aben Resources (ABN, TSX-V), with an attractive large land package in the northern part of the Eskay Camp, still doesn’t want to announce that it demobilized over a week ago, but the company has nonetheless intersected “notable” mineralization in August drilling at the Carcass Creek and Boundary zones as reported this morning…at Boundary, massive to semi-massive sulphide horizons were encountered in association with strong quartz carbonate veining and breccias…sulphides within these packages are relatively enriched in chalcopyrite, a Copper mineral that has shown a strong correlation with Gold mineralization both on the Forrest Kerr Property and in several localities within the Golden Triangle…drill core has been sent to the assay labs and final geochemical assays are pending…the Boundary rock has been strongly sericite-silica altered with locally intense quartz-sulphide and quartz-carbonate-sulphide veining, the product of a widespread hydrothermal system…drilling is ongoing in the northern part of the Camp as 88 Capital (EEC, TSX-V), soon to start trading as Golden Ridge Resources, continues work at the Hank Property…

6. IDM Mining (IDM, TSX-V) has reported the highest grade assay ever (1,400 g/t Au and 437 g/t Ag over half a meter) from its Red Mountain Project east of Stewart…the company released assays this morning for an additional 28 underground core holes from the Marc and AV Zones…the results are from the ongoing 23,000-m surface and underground resource expansion, infill and exploration drilling program…highlights included 1,400 g/t Au and 437 g/t Ag over 0.5-m within an interval of 149.2 g/t Au and 59.9 g/t Ag over 4.88 m in hole U17–1289…hole U17–1296 intersected 26.61 g/t Au and 88.19 g/t Ag over 6.89 m…Rob McLeod, IDM President and CEO, also noted “down-dip step-outs intersecting wide intervals of disseminated Gold mineralization, with high-grade, tabular lenses within the newly identified Smit Zone. These results continue to demonstrate the expansion potential and the dynamic, robust nature of Gold mineralization at Red Mountain.”  IDM is up half a penny at 14.5 cents as of 7:00 am Pacific…

7. Prime Minister Justin Trudeau poured nearly a quarter of a billion dollars into Yukon’s highway network Saturday in hopes it will lead to resource development, but some Indigenous leaders remain wary about environmental implications…Trudeau and Yukon Premier Sandy Silver announced their two governments will spend more than $360 million to improve road access to mineral-rich areas in the territory…the federal share amounts to $247 million of that total…the governments say the money will upgrade more than 650 km of road and build or upgrade a number of bridges for highways leading into the Dawson Range in Central Yukon and the Nahanni Range in the southeast part of the territory…Trudeau says strong infrastructure is necessary to develop Yukon’s natural resources.  “It’s an investment in the future of Yukon’s natural resources sector, more than that it’s an investment in its people,” he said…

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

Eskay Camp, NW British Columbia

The Venture is well-positioned for a September breakout after closing at its highest level in 2-and-a-half months Friday, buoyed by the drill bit in northwest British Columbia and strength in metal prices.

Find out where this aerial photo was taken by BMR, and the important direction crews are heading, in today’s Week In Review And A Look Ahead…

BullMarketRun.com photo.

Eskay Camp (AltaGas Facility), NW British Columbia

It was a dramatic end to August and a startling start to September for northwest British Columbia exploration as GT Gold (GTT, TSX-V) and Garibaldi Resources (GGI, TSX-V) delivered a powerful Thursday-Friday one-two punch that allowed the Venture to close at its highest level in 2-and-a-half months yesterday.

Indeed, there’s nothing like the Gold discovery of the year in B.C. and unprecedented Nickel-Copper sulphide intercepts for the Golden Triangle to inject new life into a slow-moving market eager for something to get excited about.  If this were the 1980’s, Murray Pezim would be in his glory.

A year ago, GT Gold didn’t even exist while Garibaldi was struggling at 8 cents.  They’ve both given new hope that any junior with quality properties and a little bit of good luck can suddenly hit the jackpot.

We’ll have much more Sunday-Monday for subscribers on these 2 special situations and what it means for the Eskay Camp, where multiple companies are currently active with drill programs, and the Red Chris district where many kilometers of under-explored or undrilled ground are now in play.

In the meantime, BMR has the first comments from geologist Everett Makela, GGI’s VP Exploration Canada, following yesterday’s news that the company has drilled into long intervals of Nickel-Copper sulphide mineralization (disseminated to heavy disseminated pyrrhotite-pentlandite-chalcopyrite) in its first hole at Nickel Mountain, 11 miles southwest of Eskay Creek.

In consultation with his Nickel team, Makela decided not to “play it safe” with the first hole at the E&L Nickel Mountain Property and instead went deep in the opposite direction of the historic mineralized zones – a bold move that appears likely to deliver the best Nickel sulphide drill intercept assays ever recorded in the infamous Golden Triangle, little known previously for its high-grade Nickel potential.

Click on the arrow…

Note:  John, Jon and Daniel hold share positions in GGI.  Jon holds a share position in GTT.

Eskay Camp, 11:30 am Pacific

The first Nickel-Copper-rich deposit in the heart of the Eskay Camp is one big step closer this morning with Garibaldi Resources (GGI, TSX-V) reporting that it has intersected two long intervals of disseminated Nickel-Copper sulphide mineralization totaling 176 m in the company’s first drill hole at Nickel Mountain.  Heavy disseminated and net-textured sulphides were also intersected, and a borehole downhole survey is expected to guide the next drill holes toward the interpreted massive sulphide body.

Dr. Peter Lightoot with surface samples from Nickel Mountain (BMR photo).

GGI is also immediately expanding the Nickel Mountain program which almost certainly means a 2nd drill rig is on the way.

In a bold first move, Garibaldi’s Nickel team drilled in the opposite direction of the historic high tenor mineralized zones into a previously untested area at Nickel Mountain, expanding the potential scale of what appears to be a robust mineralizing system that is typical of many global Nickel sulphide ore deposits according to Dr. Peter Lightfoot, one of the world’s foremost Nickel sulphide experts and a technical advisor to Garibaldi.

“The first borehole encountered a sequence of rock types varying from ultramafic through chaotic-textured olivine gabbro and leucogabbro,” Lightfoot stated in this morning’s news release.  “Magmatic-textured sulphides with blebby disseminated sulphides occur in association with all rock types except for the leucogabbro.

“The range in rock types, including the chaotic-textured rock types at E&L, are similar to those found in other global examples of Nickel sulphide deposits hosted by small intrusions that provided very efficient ‘magma highways’ from the mantle,” he concluded.

Additional highlights of the first drill hole:

• EL-17-01 entered mineralized gabbro beginning at a depth of 51 m with disseminated sulphides continuing to 169.5 m. A second section of disseminated sulphides started at a depth of 274.5 meters and continued to 332 m.   Meter-scale intervals of up to 30% sulphides at the base of the intercept occur as heavy disseminations, net-textures and gash veins;
• EL-17–01 remained in the E&L Intrusive Complex (ELIC) from the collar to the end of the hole at a depth of 441 m;
• Core is being processed and assays will be reported as soon as possible (true widths of intercepts in first hole are unknown at this time).

Some impressive core photos have just been released by GGI such as the one below (pyrrhotite-pentlandite-chalcopyrite in heavy disseminated sulphides).  Keep in mind that given the world class tenor of the sulphide at the E&L, as reported by GGI earlier, grades in disseminated sulphides can be very high.

Fully Subscribed $6 Million Financing To Accelerate Program At Nickel Mountain

The seriousness of developments at Nickel Mountain is reflected in the announcement this morning that GGI has arranged a fully subscribed $6 million financing, expected to close shortly (by no later than September 15).  This will certainly go a long way toward de-risking this opportunity at current levels.

GGI is up 7 cents at 77 cents on total volume (all exchanges) of more than 1.5 million shares as of 11:30 am Pacific.  More later today.

Note:  John, Jon and Daniel hold share positions in GGI.