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 $1,277 and $1,287 so far today, touching a 1-month low…as of 7:00 am Pacific, bullion is up $1 an ounce at $1,283…Silver is flat at $16.74…Copper is steady at $2.90…Nickel is up 3 cents at $4.65…Crude Oil has gained another 48 cents to $52.62 thanks to rising tension around northern Iraq following the autonomous Kurdistan region’s vote in favor of independence in a referendum…the Dollar Index has retreated one-third of a point to 93.16…Platinum is trading at a discount to Palladium for the first time since 2001…both metals are primarily consumed by automakers for catalytic converters, but Platinum is more heavily used in the diesel vehicles that have fallen out of favor…
2. The U.S. economy grew a bit faster than previously estimated in the 2nd quarter, recording its quickest pace in more than 2 years, but the momentum likely slowed in Q3 as Hurricanes Harvey and Irma temporarily curbed activity…GDP increased at a 3.1% annual rate in the April-June period, the Commerce Department reported in its 3rd estimate this morning…growth last quarter was the quickest since the 1st quarter of 2015 and followed a 1.2% pace in the January-March period…
3. Tax cuts Republicans are proposing will be paid for entirely through economic growth “substantially over 3%”, chief White House economic advisor Gary Cohn said today…Republicans issued a tax reform plan yesterday that simplifies the tax code, breaking rates down into 3 categories and slashing corporate rates…the ambitious framework also includes lower individual income tax rates, incentives for business investment, and the end of estate taxes…according to an estimate from the nonpartisan Committee for a Responsible Federal Budget, the framework calls for about $5.8 trillion in tax cuts over a decade and includes about $3.6 trillion in revenue-raising provisions; that leaves a net cut of $2.2 trillion…Congress hasn’t overhauled the tax system in such an ambitious manner since Ronald Reagan was President in 1986…the risk is that deficits and debt push higher if revenues fall short of expectations, a scenario that would be Gold-bullish…
4. The World Gold Council (WGC) plans to form a committee soon to help set up India’s first spot Gold exchange within 12 to 18 months, a senior official of the industry body said today…a dedicated exchange for physical Gold is expected to pave the way for standard Gold pricing practices in India, apart from bringing transparency to a market that sees large cash transactions…a physical exchange would enable jewelers, retailers, refiners and banks to trade over a regulated platform, the WGC stated…China, the world’s top Gold consumer, runs such a bourse where Gold, both domestically produced and imported, can be bought and sold…
5. The Dow is 23 points lower as of 7:00 am Pacific…in Toronto, the TSX is off 8 points while the Venture is steady at 776…Macarthur Minerals (MMS, TSX-V) is the Venture volume leader for the 2nd straight session, touching the 10-cent level for the first time since early April…Macarthur has optioned 2 exploration licenses in Western Australia to ASX-listed Artemis Resources which recently raised $12 million and is interested in the conglomerate Gold potential of the Macarthur ground…Comstock Metals (CSL, TSX-V), which commenced a drill program in the Yukon’s White Gold district earlier this month, has bounced off its 52-week low this morning after releasing partial results featuring multiple high-grade Gold intercepts below the historical production trench at its Preview SW Project 40 km northeast of La Ronge, Saskatchewan…highlights from 4 separate drill holes included 3.25 m grading 87.2 g/t Au, 16.7 m @ 5.1 g/t Au, 4.2 m @ 9.7 g/t Au, and 5 m @ 16.2 g/t Au…
6. Interesting development in the northern Ontario Cobalt Camp…First Cobalt (FCC, TSX-V) has released high-grade Cobalt assays up to 3.76% Co from a sampling program of the historic muck piles from the past-producing Bellellen mine…of particular interest were samples with coarse, disseminated pyrite in altered mafic volcanic rock that run high Cobalt and elevated Silver as well as Copper…significantly, this type of Cobalt mineralization has not been previously described in the Cobalt Camp…Dr. Frank Santaguida, Vice President, Exploration commented: “Bellellen contains a different style of mineralization compared to Keeley-Frontier that at first looked uninteresting but in fact contains high Cobalt grades. This suggests that a more complex structural-hydrothermal setting may exist here than was previously considered.”
7. First Nations issues continue to impede progress on the Oil pipeline front in Canada…the Federal Court of Appeal has ordered Ottawa to renegotiate the terms under which the Trans Mountain pipeline crosses a First Nation’s reserve in British Columbia, raising new questions about the fate of Kinder Morgan’s federally approved plan to expand the pipeline…the court ruled that the feds failed in their duty to protect the interests of the Coldwater Indian Band in 2014 when it approved the transfer to Kinder Morgan of an easement agreement on the original pipeline which was completed in 1952…as a result, Ottawa must make a “re-determination” on the easement before Kinder Morgan can boost the flow of the pipeline as part of its expansion project…Coldwater is one of several First Nations communities in B.C. that are challenging the federal government’s approval of the $7.4-billion Trans Mountain expansion, claiming Ottawa failed to properly recognize indigenous rights…they now have the support of the NDP-Green provincial government…the Coldwater hearing begins next week…
Two Big Plays Emerge in B.C., Setting The Stage For A Summer To Remember
How To Bring A Junior Resource Market To Life!
Northern Ontario Cobalt Junior Attracts Interest From Metal Trading Companies
The Most Important Venture Development Since The New Bull Market Began
Jon, do you think the delay in news from GGI is strictly related to the closing of the PP? It has been a month now from the initial report of visuals from hole 1 …
Comment by Weatheritout80 — September 28, 2017 @ 10:42 am
Makes sense to me, Weatheritout…the Sept. 1 news said it all, though, in terms of how Nickel Mountain is quickly evolving into a potential world class discovery…astute market participants have obviously picked up on that but the masses and the pundits are still behind the curve IMHO…the delay since Sept. 1 sets up a very interesting scenario in terms of confirmation of something big…Regoci soon has to show his cards…aces up his sleeve?…
Comment by Jon - BMR — September 28, 2017 @ 10:58 am
Lundin recommended ABN an CPO last night and said he bought. Here GGI gets a 10 bagger + and the big guys are still shying away from it. I just dont get it.
Comment by dave — September 28, 2017 @ 11:23 am
Dave
They will start recommending it when it’s at 5 bucks, who really needs those guys anyway if GGI has what we hope they have it wont matter anyway.
Comment by Gregh — September 28, 2017 @ 6:31 pm
Sunvest Minerals to acquire 100% of Clone project
2017-09-28 12:26 ET – News Release
Mr. Mike England reports
SUNVEST ENTERS THE GOLDEN TRIANGLE BY ACQUIRING AND UNIFYING THE HIGH GRADE CLONE GOLD-COBALT PROJECT
Sunvest Minerals Corp. has signed both a purchase agreement (as to 50 per cent) and an option agreement (as to 50 per cent), thereby acquiring a 100-per-cent interest in the high-grade gold-cobalt Clone project situated about 20 kilometres southeast of Stewart in the Golden Triangle region of northwestern British Columbia. Significantly, this represents the first time in 22 years that the iconic project has been controlled by one owner since the initial discovery of gold and cobalt in 1995.
The Clone project was worked aggressively from 1995 to 1997 by partners Teuton Resources Corp. and Minvita Enterprise Ltd., financed by a major, Homestake Mining Corp., and Murray Pezim’s flagship company, Prime Resources Corp. Activity waned after 1997, but drilling resumed in 2003, with a joint venture to earn 50 per cent with Lateegra Resource Corp.The Clone property comprises 4,621 hectares, with a logging road running east up the Marmot River from tidewater in the Portland Canal to a point about nine kilometres northwest of the property. The main area of interest to date is a roughly a four-kilometre-by-four-kilometre square, with much of the southern areas sections only recently exposed by retreating ice. This process of glacial melt, known as ablation, greatly increases the ease with which previously difficult or unreachable ground can now be accessed.
The property lies 16 kilometres southwest of IDM Mining’s development-stage Red Mountain project. It was reconnaissance efforts by Teuton surrounding the Red Mountain discovery that culminated in the discovery of unusual gold-bearing and gold-cobalt-bearing shear structures on the Clone property.
High-grade gold and gold-cobalt mineralization was discovered by Teuton/Silver Grail prospectors in 1995 within a series of shears exposed over a strike length of 500 metres and a vertical range of 130 metres. Trenching of the shears returned values ranging up to 3.59 ounces per ton gold over 5.5 metres (18 feet). Significant cobalt values were found to accompany gold in the southeast portion of the zone.
Main zone (H zone) target:
Trench highlights: Trenching of the shears returned values ranging up to 123.1 grams per tonne gold over 5.5 metres. Significant cobalt values were found to accompany gold in the southeast portion of the zone.
Drill highlights: The best drill hole was hole No. 110, which contained a 10.0-metre interval averaging 43.9 grams per tonne gold.
Bulk sample highlights: In 2010, a bulk sampling program was completed at the high-grade portion of the H-1 zone. A total of 34 one-ton samples were taken from the one-ton lots, which returned an average grade of 68.65 grams per tonne gold. A larger bulk sample of 102 tons were then taken in 2011 and this averaged 137.1 grams per tonne gold (4.0 ounces per ton gold).
SA zone target — parallel to main zone:
Trench highlights: Trenching returned 3.0 metres averaging 135.3 grams per tonne gold, with anomalous cobalt values.
Drill highlights: Hole No. 18 into the S-2A zone contained a 6.0-metre intercept grading 52.5 grams per tonne gold and 0.33 per cent cobalt.
Other targets:
A 1990s induced polarization (IP) survey indicated 13 anomalous areas that have not been tested.
“The Clone property has had fragmented ownership for the past 22 years with no one company controlling more than 50 per cent. With unification of the property under one owner, with partially defined zones to expand, and numerous untested targets, the Clone property represents a keystone asset for Sunvest. A site visit is planned this fall to review the core in Stewart, followed by compilation and interpretation, directed at an aggressive exploration program in the next field season,” stated Mike England, chief executive officer of the company.
“A very significant Golden Triangle move for Sunvest to add to its holdings at Hemlo in Ontario — both areas of vast resources. These acquisitions are the result of Mike England’s vision and persistence and should add substantial value to Sunvest and its shareholders,” said Vic Bradley, chairman.
Terms
To purchase 100 per cent of Makena Resources Inc.’s 50-per-cent interest in the project, Sunvest will make cumulative share payments of three million shares plus cumulative cash payments of $300,000 over a 24-month period.
To earn a 100-per-cent interest of the Teuton Resources/Silver Grail jointly held 50-per-cent interest in the project, Sunvest will make cumulative share payments of five million shares, cash payments of $200,000 and incur cumulative expenditures on the property of $1.95-million.
A 2-per-cent net smelter return royalty over the whole property will be granted to Teuton and Silver Grail, of which the company can purchase back half for $1.5-million at any time.
A finder’s fee will be paid on this transaction in accordance with TSX-V rules.
Financing
Sunvest has arranged a non-brokered private placement of up to 10 million units at a price of 10 cents per unit for an aggregate gross proceeds of $1-million.
Each unit comprises one common share and one-half share purchase warrant of the company. Each full warrant will entitle the holder to purchase one share at a price of 15 cents per warrant share for an 18-month period after the closing date.
Comment by STEVEN1 — September 28, 2017 @ 8:07 pm
Important news from MTS this morning – mineralized olivine gabbro (the favored gabbro variety) discovered in outcrop immediately south of Nickel Mountain, and MTS commences drilling just 4 km southeast of current GGI drilling at Nickel Mountain. Could be huge further gains for MTS, and of course GGI, in October.
METALLIS COMMENCES DRILLING AT THUNDER NORTH, CONTIGUOUS TO NICKEL MOUNTAIN DISCOVERY
Metallis Resources Inc. has commenced phase 2 drilling at its 100-per-cent-owned Kirkham property beginning with an expanded Thunder North target contiguous to the southern and eastern boundaries of Garibaldi Resources’ E&L Nickel Mountain project.
Metallis’ 100 sq. km Kirkham Property, aligned on a north-south trend with the 63 sq. km E&L, features a range of potential deposit types and is strategically positioned in the heart of northwest B.C.’s prolific Eskay Camp.
Highlights:
1. Maiden drilling at Thunder North will test altered gabbroic units that outcrop over the central part of the target, 4 km southeast of current Nickel Mountain drilling, as disclosed in the Company’s news release September 12, 2017;
2. Mineralized mafic-ultramafic rocks (olivine gabbro) have been mapped in outcrop immediately to the south of Garibaldi’s Nickel Mountain Property in an area that’s 2 km southwest of Metallis’ first drill hole;
3. The Thunder North area of interest has expanded to the west, doubling in size to 10 sq. km, and now covers the entire southern border of Nickel Mountain in addition to part of the eastern border.
Fiore Aliperti, Metallis President and CEO, stated: “Exceptionally good weather conditions and glacial retreat have permitted our crews to examine outcrops that have never been previously observed. The remarkable speed of work at Thunder North, where these surface expressions occur, has added a powerful new dynamic to the Kirkham Property’s potential, complementing a growing gold-copper porphyry system to the south with high-grade gold possibilities along the flank of the porphyry.
“While much work remains to be done at Thunder North at this very early exploration stage, we believe the most efficient way to exponentially increase our knowledge of this exciting area is to examine drill core,” Aliperti added.
Phase 2 drilling at Kirkham will also test the King target, a geophysical anomaly that could be produced by an intrusion-related gold-pyrrhotite vein-type system. According to the BC Geological Survey, this deposit type is typically high-grade (15 – 30 g/t gold). The Snip mine to the northwest is one of the outstanding gold deposits of this type.
Qualified Person
Technical aspects of this news release have been reviewed and approved by David Dupre, P.Geo., designated as a qualified person under National Instrument 43-101.
About the Kirkham Property
The 10,600 hectare Kirkham Property is located about 65 km north of Stewart within the prolific Golden Triangle. The northeast corner of Kirkham is within 12 km of the Eskay Creek mine while the eastern border is within 15 to 20 km of Seabridge Gold’s KSM deposit and Pretium Resources’ Brucejack mine which is now in commercial production.
About Metallis
Metallis Resources Inc. is a Vancouver-based company focused on the exploration of gold, copper and silver at its 100% owned Kirkham Property situated in northwest British Columbia’s Golden Triangle. Metallis trades under the symbol MTS on the TSX Venture Exchange and currently has 26,011,307 shares issued and outstanding.
We seek Safe Harbor.
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Comment by Jon - BMR — September 29, 2017 @ 4:30 am
How do l upgrade from basic to gold……..bm
Comment by brigm — September 29, 2017 @ 8:35 am
Admin. will send you an email on that, brigm.
Comment by Jon - BMR — September 29, 2017 @ 9:03 am
Jon
nice to see a bunch of new subscribers here, congratulations much deserved.
Comment by Gregh — September 29, 2017 @ 11:35 am