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As Garibaldi Resources (GGI, TSX-V) continues to build out its Discovery zone at Nickel Mountain with more high-grade intersections, a game-changing development has dramatically increased the potential scale of the Eskay Camp’s first magmatic Nickel-Copper sulphide system.

Major new surface discoveries on the margins of the receding E&L Icefield are pointing to something truly unique – a “jewellery box” of Nickel, Copper, Cobalt, Palladium Platinum, Gold and Silver extending well underneath the 1.6-km-long, 1-km-wide E&L Icefield…

An important week coming up for the Venture, and the Eskay Camp will play a key role…

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 $1,191 and $1,212 so far today…as of 7:00 am Pacific, bullion is down $11 an ounce at $1,196…“There are already signs that Gold fundamentals are starting to change with the dollar weakening over the past week, Chinese and Indian Gold purchases rebounding, and Turkish central bank holdings stabilizing,” Goldman Sachs commented…“From here, we continue to expect gradually higher Gold prices on the back of renewed EM demand.  However, against this, we are already seeing a later-cycle U.S. economy with higher interest rates increasing the contango (negative carry) in Gold“…Silver is off 2 pennies at $14.29…Crude Oil has shot up 76 cents a barrel to $71.08 while the U.S. Dollar Index is unchanged at 93.92…the greenback, however, has lost significant momentum recently and technically seems destined to come under increasing pressure over the next several weeks which would be bullish for the commodity sector…

2. Base metals are strong today to cap off their best week in quite a while after the U.S. and China announced fresh tariffs that were less severe than some investors had feared…the U.S. 10% tariff on $200 billion of Chinese imports starting September 24 (Monday) was a more measured response than the immediate 25% duty some had expected, and Copper prices actually extended gains after China responded that it would retaliate with 5%-10% tariffs on $60 billion of U.S. goods…as of 7:00 am Pacific, Copper is up another 10 cents at $2.83, Nickel is 20 cents higher at $5.88 while Zinc has added a penny to $1.11…Copper inventories in London Metal Exchange-registered warehouses dropped 20,000 metric tons over the past week, taking the total inventory withdrawal to more than 80,000 in the 3rd quarter so far, according to ING Bank…Cobalt remains steady at $28.46…

3. Goldman Sachs looks for Gold prices to be at $1,250 an ounce in 3 months and $1,325 a year from now, the investment bank said in a research report late yesterday…the updated 3, 6 and 12-month forecasts average around $100 lower compared to the bank’s previous outlook as the Gold market has been caught in a downtrend the last several months…Goldman described the recent investment environment as similar to the late 1990’s, when a boom in technology stocks meant no fear in so-called risk markets in developed nations, while there was a financial crisis in emerging-market countries…softening emerging-market economic growth and the strong U.S. dollar simultaneously hurt household savings in EM nations, a key metric for Gold demand…as Gold prices fell, there was a significant decline in ETF demand in developed nations, which Goldman estimated was responsible for around $60 per ounce of the drop in prices since April…softer physical Gold demand, driven primarily by emerging-market nations, accounted for about $80 of the decline, the bank added…

4. Oil prices continue to strengthen ahead of a Sunday meeting of OPEC and other large Crude exporters that will focus on production increases as U.S. sanctions restrict Iranian exports…OPEC and its allies are scheduled to gather in Algeria to discuss how to allocate higher supply to offset the shortage of Iranian supplies…however, the meeting is unlikely to be able to change production policy…such a move would require OPEC to hold what it calls an “extraordinary meeting”, which is not on the agenda…International benchmark Brent Crude for November delivery is close to 4-year highs, trading just below $80 a barrel, as investors bet that OPEC will be unable to compensate fully for the loss of Oil from Iran, the cartel’s 3rd-biggest producer…

5. Speaking of Oil, and how Canada isn’t fully benefiting from firming prices due to government incompetence, Justin Trudeau and the Federal Liberals’ pipeline regulatory merry-go-round continues with no end in sight…the federal cabinet has ordered the National Energy Board to return with a new recommendation within 22 weeks on whether the pipeline expansion should proceed after taking a look at the environmental impact of more than 3 dozen Oil tankers shipping diluted bitumen through the Burrard Inlet every month (of course this has been studied at length already)…an unelected, left-leaning and micro-managing Federal Court of Appeal last month quashed the approval the NEB and the cabinet gave the project in 2016, citing improper consultation with Indigenous communities and a lack of review of the marine shipping issue…Natural Resources Minister Amarjeet Sohi made the announcement regarding the nearly 6-month timeline for the NEB this morning in Halifax where Canada is hosting environment and energy ministers at a G7 summit meeting on the now predictable Canadian themes of “Climate Change, Oceans and Clean Energy”…Sohi, obsessed with gender issues like his colleagues in cabinet, actually stated this prior to the meeting:  “Canada is leading by example to address the issue of gender equality in the G7 energy agenda.  We will continue to engage key private sector and public sector leaders on this important issue and take actions to improve gender equality, particularly in the energy sector.  We want to influence current and future leaders of Canadian industry to commit to meaningful action in the area of gender equality”…this is the same government that mentioned the word “gender” more than 150 times in its February budget but failed to mention the word “pipeline” even once…that says it all…

6. The Dow and S&P 500 have hit new all-time highs again this morning…as of 7:00 am Pacific, the Dow has climbed 67 points…in Toronto, the TSX is 33 points higher…Royal Nickel (RNX, TSX) has added 3 cents to 45.5 cents, its best level since early 2016, after news that Eric Sprott has added 561,000 shares of the company at an average price of 43 cents to lift his overall holdings to 10.1%…the Venture is off a point at 719…as investors await Nickel Mountain news from Garibaldi Resources (GGI, TSX-V), GGI neighbor Metallis Resources (MTS, TSX-V) reports that it’s gearing up for drilling at Thunder North, contiguous to the Eskay Camp’s first Nickel-Copper-rich sulphide system…a final round of geophysics is being completed over the Thunder North target area in order to prioritize Nickel sulphide drill targets after a highly encouraging VTEM survey earlier in the season…the textures and compositions of the gabbros at Thunder North support the presence of mafic intrusive magmatism in the Hazelton stratigraphy along the western margin of the Eskay Rift…meanwhile, current drilling at MTS‘ Kirkham Property has apparently intersected visually impressive Copper mineralization at the Cole and Nina targets, never previously drilled, below Thunder North and Thunder South in a Gold-Copper environment…Cannabix Technologies (BLO, CSE) continues to gain fresh technical momentum, pushing past the $2 level for the first time since July…Khiron Life Sciences (KHRN, TSX-V) has enjoyed a strong week, drawing attention for its “first-mover” advantage in Colombia…Cannabis investor Canopy Rivers (RIV, TSX-V), the venture arm of industry giant Canopy Growth (WEED, TSX; CGC, NYSE), went public yesterday in a debut that gave it a market capitalization of about $1.6 billion, more than double its valuation prior to the listing…Canopy Rivers listed on the Venture through a reverse takeover of a shell company…the stock ended the day at $8.75 and is up another 25 cents at $9.00 after the first 30 minutes of trading this morning…the public offering was oversubscribed by more than 3 times…

7. CIBC’s dominance in electronic trading puts the broker at the forefront of trading for 3 of the 5 biggest cannabis firms:  Canopy, Aphria and Cronos…Bloomberg says that about 23% of gross volume of Canadian trades in Canopy, for instance, were handled by CIBC World Markets this year, compared with almost 14% with TD Securities…CIBC is 2nd in overall pot stocks trading volume because it is the main Canadian bank-owned brokerage serving market-makers…TD Securities, however, leads trading for most of the large marijuana firms, including Emerald Health Therapeutics, CannTrust Holdings and Supreme Cannabis…many are on a list of 18 cannabis stocks the firm’s investment advisers use for recommending to clients…TD allows advisers to recommend only those cannabis companies listed on the TSX or the Venture and that “have no prohibited U.S. touchpoints,” TD said in a statement to Bloomberg…TD Securities accounts for 25% of gross trading volume of institutional block trades for the industry this year, compared with a 9.7% share for Instinet and 9.4% for RBC Capital Markets…

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Visit the BMR comments section throughout the day for updates and helpful information

1. Gold has traded between $1,201 and $1,209 so far today…as of 7:00 am Pacific, bullion is up $2 an ounce at $1,206…Swiss Gold exports picked up in August, according to Commerzbank…Gold shipments rose 30% month-on-month to a 14-month high of 150.5 tonnes…“Significantly more Gold was shipped to China and India in particular, which points to reviving demand in these two leading Gold-consumer countries,” Commerzbank stated…Silver is up 2 pennies at $14.22…Copper is off slightly at $2.74…Nickel and Zinc continue to firm, at $5.77 and $1.10, respectively, while Cobalt is steady at $28.46…Palladium has hit an 8-month high…Crude Oil continues to strengthen, up another 9 cents a barrel at $71.21…with WTI prices threatening to break out, President Trump put renewed pressure on OPEC this morning with the following Tweet:  “We protect the countries of the Middle East, they would not be safe for very long without us, and yet they continue to push for higher and higher Oil prices!  We will remember.  The OPEC monopoly must get prices down now!”…

2. The Eskay Camp has an important new player – London-listed Hochschild Mining (HOC, LON), one of the top underground mining companies in the world, and Skeena Resources (SKE, TSX-V) have cut a deal, giving Hochschild the option to earn a 60% undivided interest in the Snip Gold Project…Hochschild will first acquire 7.5 million flow-through shares of Skeena at a price of 90 cents per share (80% above yesterday’s closing price) for an 8.3% interest in the junior…in connection with that financing, Hochschild now has an option to earn a 60% interest in the project (it has a maximum of 3 years to provide notice to Skeena that it wishes to exercise that option)…to acquire the 60%, Hochschild will have to incur a minimum of nearly $34 million in expenditures on Snip as it must spend no less than twice the amount Skeena has invested in the project from March 23, 2016 (Skeena has incurred $16.9 million of expenditures to date)…

3. GFG Resources (GFG, TSX-V) has confirmed district-scale targets for a Phase 1 drill program to commence next month at its 100%-owned Pen Gold Project approximately 40 km from the prolific Timmins Gold Camp…GFG’s consolidated land package consists of approximately 475 sq. km…since acquiring the project in March, GFG has conducted extensive surface exploration programs to build a district model and prioritize and test drill targets with approximately 5,000 to 6,000 m of drilling…completion of a Phase 1 till program has confirmed regional Gold prospectivity and has outlined 5 priority areas that are associated with promising regional structures…Brian Skanderbeg, President and CEO, commented, “Our multi-disciplinary exploration strategy is clearly demonstrating the regional prospectivity of the Project.  With a district scale land package and well-developed regional structural framework in hand, we are excited with the magnitude and location of the till anomalies.  The high Gold grain counts and pristine grain textures are consistent with a proximal source and provide strong evidence to support our existing targets as well as generating new targets”…

4. Ascent Industries (ASNT, CSE) reported this morning that through its wholly-owned subsidiary, Agrima Botanicals, the company has developed a proprietary methodology for producing a variety of discrete, water-soluble cannabinoids, both in powder and liquid form…cannabinoids in their natural state are Oil-based and non-water soluble, making it challenging for beverage makers and edibles manufacturers to evenly suspend and standardize their product mixtures…water-soluble cannabinoids emulsify evenly, allowing both beverage and edibles makers to completely standardize their product mixtures, giving end consumers a consistent, high-quality product experience…additionally, water-soluble cannabinoids have a faster activation time of approximately 10 to 15 minutes in the human body, compared with 30 to 45 minutes generally for Oil-based delivery methods…when the company’s large-scale production facility, Agrima Labs, is fully licensed and operational, the company expects it will be able to provide large quantities of water-soluble formulate to beverage and edibles manufacturers as an input ingredient…ASNT was halted for the news and resumes trading at 7:15 am Pacific…

5. National Access Cannabis (META, TSX-V) and the government of Manitoba have executed the cannabis retail organization agreement that will allow National Access to develop and operate 10 privately owned recreational cannabis stores in the province…the initial 10 recreational cannabis retail stores will operate under National Access’s retail brand Meta Cannabis Supply…National Access plans to open 5 additional Meta stores in partnership with First Nations on First Nations land…“Now that the retailer relationship is official and with nine of our 10 locations selected and construction under way at select sites, NAC plans to have at least three Meta stores in Winnipeg, as well as our on-line sales, ready and open for business on October 17,” stated Mark Goliger, CEO of National Access. “NAC continues to actively work with the various regulators, provincial and municipal governments to meet the needs of recreational customers and provide Manitobans with special in-store experiences and access to quality products with a range of options and pricing”…in addition, as part of National Access anticipating opening of up to 220 retail cannabis locations across Canada over the next 18 months, the company continues to develop its retail strategy to open cannabis retail locations in partnership with 4 Manitoban indigenous first nations (Opaskwayak Cree Nation, Long Plain First Nation, Brokenhead Ojibway Nation and Nisichawayasihk Cree Nation)…these partnerships are expected to establish retail cannabis distribution on First Nation lands under indigenous and National Access leadership…

6. The Dow has hit its first record high since January as gains in Apple and a decrease in trade fears lifted the 30-stock index…the Dow is up over 200 points as of 7:00 am Pacific with Apple, Boeing and Caterpillar outperforming…the S&P 500 has also hit a new record high, its first since late August, with materials and tech leading the way…it was the Wild West for Cannabis yesterday as Nanaimo-based Tilray (TLRY, NASDAQ) doubled in price to $300 a share before wiping out the entire gain in less than an hour, only to finish 40% higher than where it started…the stock has dropped back below $200 in early trading today…in Toronto, the TSX has added 31 points while the Venture is up 5 points at 719… Chemesis International (CSI, CSE) has hit a fresh high of $1.55 during the first half hour of trading…Canopy Rivers (RIV, TSX-V) has commenced trading this morning on the Venture…Canopy Rivers was founded to diversify Canopy Growth’s (WEED, TSX,; CGC, NYSE) cannabis supply streams and quickly evolved into a global strategic growth platform that builds value in its partners by supporting every aspect of a cannabis venture, from licensing and genetics to financial and strategic support leveraging its close relationship with Canopy Growth…to date, Canopy Rivers has a diverse portfolio of strategic investments including licensed cannabis producers, applicants, an innovative media platform, and a leading European hemp cultivator…this diverse portfolio will expand as new opportunities emerge in the global cannabis industry…“Canopy Rivers presents a world of opportunity for its partners and for Canopy Growth.  It’s the type of relationship that allows us to continue to grow our lead in this incredibly dynamic industry, and we at Canopy Growth couldn’t be more excited for Canopy Rivers to be taking this transformative step into the public markets,” said Bruce Linton, Chairman and co-CEO, Canopy Growth and Acting CEO, Canopy Rivers.  “Whether it’s access to new brands, new technologies, differentiated products, first rights to future financing opportunities, and even rights to future full acquisition, Rivers will build value for shareholders, including Canopy Growth by building value for its portfolio partners”…

7. Attack in Colombia:  Continental Gold (CNL, TSX) has learned that a residence, in which exploration geologists and contractors were staying, was criminally attacked in the middle of the night…this tragedy took place in the village of Ochali in the municipality of Yaramul, Antioquia, which is located within the boundaries of the company’s Berlin Project…this is unrelated to the Buritica project as it is located over 8 hours away by road…details at this point are unclear as to the severity of the attack but the worst is feared…initial indications are that the attack was carried out by a dissident group of ex-FARC (Revolutionary Armed Forces of Colombia) members…the company is working with authorities and the families affected…

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