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Check back later this morning for today’s BMR Morning Market Musings.

1. Gold touched a 2-and-a-half month high of $1,226 overnight on safe haven demand and a slumping U.S. dollar…yesterday’s Fed announcement that hinted of rising inflation has helped the bid side as well…as of 7:00 am Pacific, bullion is up $12 an ounce at $1,221…Silver is up 9 cents at $17.60 while Nickel has enjoyed a strong week, up another 7 cents at $4.70…

2. The Venture has kicked off February on a robust note with a 6-point gain to 820 as of 7:00 am Pacific after a 7-point advance yesterday…the Index is now within 28 points of last summer’s high…the TSX is up slightly in early trading while the Dow has slipped 24 points…

3. Nighthawk Gold (NHK, TSX-V) has raced to a new multi-year high of 69 cents in early trading…NHK has been expanding resources at its promising Colomac Gold Project in the Northwest Territories with Kinross Gold (K, TSX) making a strategic investment in the company late last year…

4. Purepoint Uranium (PTU, TSX-V) is under pressure in early trading after reporting initial drill results from a major new program at its Hook Lake JV in the Athabasca Basin next to NexGen Energy’s (NXE, TSX) world class Arrow deposit…the first hole of a 30-hole, 12,000-m program returned 13.3% U3O8 over 1.5 m within a 9.5-m interval that assayed 2.9% U3O8 in the Spitfire zone…high-grade mineralization has now been confirmed along strike for 115 m at Spitfire..7 holes totaling 2,526 m have been completed so far during this program with assays pending for an additional 6 holes…PTU is off 1.5 cents at 13.5 cents as of 7:00 am Pacific…good day for PTU bargain hunters…

5. Garibaldi Resources (GGI, TSX-V), soon to release a 3D geologic model on the first magmatic Ni-Cu-PGE massive sulphide deposit in the heart of northwest British Columbia’s Golden Triangle, broke out above a downsloping flag on a volume surge yesterday and is unchanged at 16 cents as of 7:00 am Pacific…the chart also shows a reversal to the upside in GGI’s 1,000-day moving average (SMA), a reliable technical indicator of a major trend change…

6. Orca Gold (ORG, TSX-V) has released an updated mineral resource estimate for the company’s Block 14 Gold project in the Republic of the Sudan…drilling within the Preliminary Economic Assessment pit shells has confirmed a mineral resource of 30.6 million tonnes grading 1.8 g/t Au for 1.79 million ounces of Gold, and an Inferred resource of 9.7 million tonnes grading 1.7 g/t au for an additional 536,000 ounces of Gold…significantly, drilling at a number of locations in Block 14 has confirmed the potential of high-grade mineralization below the PEA pit designs…compared to the previous estimate in July 2016, Indicated resources have increased by 10% or 159,000 ounces and Inferred resources have decreased by 15% or 98,000…exploration in the first half of 2017 will focus on further developing the Liseiwi high-grade target within the project area, and on extending the high-grade mineralization to depth at Wadi Doum and Galat Sufar South…ORG is up a penny at 43 cents as of 7:00 am Pacific…

7. The final 7 holes of Kootenay Silver’s (KTN, TSX-V) 3,000-m, Phase 1 drill program on mineralized targets proximal to its La Cigarra Silver deposit in Chihuahua State, Mexico, failed to produce any economically important intersections…however, the holes did return significant widths of veining with lower grade Silver mineralization over a 700-m strike length of the La Soledad structure which extends southward along strike from the La Cigarra deposit for a distance of approximately 2 km…the best intersection was 32 m grading 13.2 g/t Ag…the company says that follow-up drilling on both the Soledad structure and the 3.8 km RAM target remain a priority, as does the drilling of known underlying high-grade mineral extensions on the La Cigarra deposit…KTN is up 2.5 pennies at 33.5 cents as of 7:00 am Pacific…