Gold has traded between $1,115 and $1,123 on this important day with a Fed policy statement due at 11:00 am Pacific…as of 7:00 am Pacific, bullion is off $2 an ounce at $1,117 after a strong advance yesterday…Silver is up 2 pennies at $14.95…Copper is unchanged at $2.44…Crude Oil has turned positive after some early weakness, now up 32 cents at $47.47 while the U.S. Dollar Index has fallen one-tenth of a point to 95.19…
Fed Chair Janet Yellen has made clear she would rather delay an interest rate hike for too long than move sooner and risk jeopardizing a tepid economic recovery, a conviction that will face its sharpest test yet later today…
A rate hike would be the first in the U.S. in nearly a decade…Fed watchers, however, see the outcome as a toss-up, with Yellen’s consistently stated desire to see workers reap more benefits from the recovery, coupled with weak price rises and a variety of global risks, looming large. “It is a game-time decision. The key is what Yellen thinks and my guess is that she will want to wait,” said Mark Zandi, chief economist for Moody’s Analytics. “If you put yourself in her shoes, you don’t want to err by going too soon.”
In addition to the release of the policy statement at 11:00 am Pacific, Fed policymakers also will issue a fresh set of economic projections that will provide insight into the expected pace of subsequent rate hikes and other key economic matters…Yellen will hold a news conference shortly after…
It’s important to note that in the 7 years since the world’s central banks responded to the financial crisis by slashing interest rates, more than a dozen banks in the advanced world have tried to raise them again…all have been forced to retreat, including the ECB…
Federal-funds futures, used by investors and traders to place bets on central-bank policy, showed yesterday a 21% likelihood of a rate increase today, down from 25% earlier this week, according to data from CME Group Inc. (the odds were 45% a month ago and 58% 6 months ago, according to CME)…
Gold Demand From India Down This Month
Gold discounts in India, the world’s second-biggest consumer, widened this week as dealers struggled to offload stocks amid sluggish demand, according to a Reuters report…dealers were offering discounts of $6 to $8 an ounce to the global spot benchmark this week, compared to discounts of $4 to $6 last week…
The value of India’s August Gold imports jumped 140% from the same month a year ago to $4.96 billion, the trade ministry said this week…this followed a 62% jump in imports in July from a year ago to $2.97 billion…imports have been on the rise due to lower prices and expectation of robust purchases, but demand has been soft this month due to a weaker than usual monsoon…
“Anticipating robust demand, everyone in the supply chain was buying last month. But demand is not as good as expected,” said Daman Prakash Rathod, director at Chennai-based wholesaler MNC Bullion. “Now everyone is trimming purchases. Imports will be much lower this month.”
Updated Gold Chart
Historically, September is Gold’s best month of the year, and the short-term chart is now looking better than it has at anytime this month…today and tomorrow of course will prove critical given the Fed decision and investors’ reaction to it across a broad spectrum of markets, including of course precious metals…
Gold rallied back up to its 50-day moving average (SMA) again yesterday, currently $1,119…the key will be to move above that decisively and push through important Fib. resistance around $1,130…a weekly close above $1,130 would give bullion fresh momentum entering the final 8 trading days of the month…
Crude Oil Update
A glue of Crude may keep Oil prices low for the next 15 years, according to Goldman Sachs Group’s Jeffrey Currie…there’s less than a 50% chance that prices will drop as low as $20 a barrel, most likely when refiners shut in October or March for maintenance, said Currie, head of commodities research at the bank who earned recognition for his bearish call on Gold more than 2 years ago…Goldman’s long-term forecast for Crude is at $50 a barrel, he said..
Goldman cut its Crude forecasts earlier this month, saying the global surplus of Oil is bigger than it previously thought and that failure to reduce production fast enough may require prices to fall near $20 a barrel to clear the glut…prices may touch that level when stockpiles are filled to capacity, forcing producers in some areas to cut output, Currie said…
“When we think of the longer term Oil price, yes, we put it at $50 a barrel,” he said. “However the risks are to the downside given what’s happening in the other commodity markets and the macro markets more broadly,” Currie stated.
Today’s Equity Markets
Asia
China’s Shanghai Composite fell 2% overnight to close at 3087 while Japan’s Nikkei gained 1.5% to finish at 18432…
Europe
European markets are quiet in late trading overseas…
North America
The Dow is off 13 points as of 7:00 am Pacific…in Toronto, the TSX has lost 39 points while the Venture is 1 point lower at 552 after pushing up against resistance again yesterday at its 20-day SMA…
Dow Long-Term Chart
The Dow’s RSI(14) on this 8-year monthly chart is at its lowest level since the summer of 2011 and the spring of 2010 when on both of those occasions it also found support around the 50% level…the Dow also has a rising 1000-day SMA which coincides with strong chart support at 15550, an area that was tested during the August 24 “flash crash”…this is not a chart we would want to bet against, unless the RSI(14) broke below critical support…
Walker River Resources (WRR, TSX-V) Update
Finally, after a few months’ delay, drilling is ready to commence at Walker River Resources’ (WRR, TSX-V) Lapon Canyon Project in Nevada…drilling of an initial 6 holes into high-grade Gold targets is expected to begin within the next few days as reported by the company yesterday…
Walker River has now completed a definitive exploration agreement with an option to form a joint venture with privately-held Nevada Canyon…the latter will have an option to acquire an initial 25% interest in the project for $250,000 (U.S.) of exploration expenditures within a 1-year period…
After being in decline since May, WRR’s 50-day SMA has reversed to the upside while RSI(14) is showing strong up momentum…key initial resistance is at 3.5 cents…a better overall market would help WRR tremendously over the next several weeks…
WRR is off half a penny at 2.5 cents through the first 30 minutes of trading today…
Discovery Ventures (DVN, TSX-V) Update
Interesting news from Discovery Ventures (DVN, TSX-V)…new DVN CEO Dan Omeniuk is a shrewd operator, as evidenced by the announcements this morning and yesterday that DVN has saved $3 million and considerable dilution by amending an agreement with the optionors of the Willa Property in southeast British Columbia…Discovery has paid $130,000 to the optionors to acquire a 100% interest in the Willa, subject to a 2.5% NSR…DVN agreed to pay the optionors an advance royalty payment, which will be credited against the NSR, of $144,000 each year until it commences commercial production at Willa…if Discovery fails to start commercial production by September 2020, or defaults for 3 months on the advance royalty payments, the company must transfer the Willa property back to the optionors…
“This is big step forward for our company,” stated Omeniuk. “The funds that we would have used to pay Numberco (the Willa optionors) are anticipated to be used towards advancing the WillaMax project and finalizing the 100% acquisition of 42 Metals Inc.“
We pointed out Discovery the other day as a potential rebound situation when it was trading around 12 cents…it’s now attempting to overcome resistance at 15 cents as per John’s 3-year weekly chart which shows a bullish “W” in the RSI(14) and increasing up momentum (SS and ADX indicators)…
As of 7:00 am Pacific, DVN is up a penny at 16 cents on good volume…looking strong…
Tweed Marijuana Inc. (TWD, TSX-V) Update
If you believe there’s going to be “regime change” in Ottawa come October 19, with a possible NDP government potentially backed by the Liberals, such an outcome would no doubt have some negative effects but 1 sector that would clearly benefit is medical marijuana…that potentially explains the sharp move in Tweed Marijuana (TWD, TSX-V) which recently completed a game-changing acquisition of Bedrocan Cannabis Corp. which analysts believe will allow Tweed to become cash-flow positive within the next 6 months…
Liberal leader Justin Trudeau has long promised to legalize and regulate marijuana if elected, while NDP leader Tom Mulcair favours decriminalization…
Tweed has run into stiff resistance at its 200-day SMA (currently $1.98) throughout 2015…keep an eye on this one for a potential major breakout above the 200-day and important chart resistance at $2.10, but don’t dismiss the odds of Harper and the Conservatives continuing in office and defying the mainstream media’s predictions…
TWD is off 2 pennies at $1.82 as of 7:00 am Pacific…
Note: John and Jon both hold share positions in WRR.
Anyone know what time the Fed Rate decision is today?
Comment by Dan1 — September 17, 2015 @ 6:28 am
11 am Pacific, Dan…I believe that is 3:30 pm your time out their on the far east coast…
Comment by Jon - BMR — September 17, 2015 @ 6:30 am
Ok, thanks Jon.
Comment by Dan1 — September 17, 2015 @ 6:44 am
With 900,000 PE shares traded and a low of .75 the profit taking continues. A good reaction to the huge raise in price was expected and after some consolidation it can move a lot higher as the implications of the Tesla deal are far from over. IMO
Comment by Les — September 17, 2015 @ 6:58 am
Jon, I am hoping out here on the far east coast there will be major discovery with EQT, and on the far west coast where you guys are, another one with GGI.
Comment by Dan1 — September 17, 2015 @ 7:13 am
Me too, Dan. Even 1 discovery would change this market. Interest in both is going to intensify as drilling begins. Could get quite dramatic. In the meantime, let’s hope for an end-of-the-day reversal to the upside in the markets following the Fed decision and Yellen news conference.
Comment by Jon - BMR — September 17, 2015 @ 7:15 am
DAN – East coast?????? You live in Labrador!!!!
Comment by dave — September 17, 2015 @ 8:07 am
as we wait for the first 0.25% increase or not, in 7+ years, nothing happens, geesch!
Comment by david — September 17, 2015 @ 8:08 am
No but pretty darn close. NL
Comment by Dan1 — September 17, 2015 @ 8:48 am
Damn close I meant.
Comment by Dan1 — September 17, 2015 @ 8:48 am
Get your hiney up at that property and give us a fill in, hahahaha
Comment by dave — September 17, 2015 @ 9:10 am
Good morning John, did you guys looked up PGD.TO it broke up above a down trend line?
Comment by jasi — September 17, 2015 @ 9:57 am
Hello Dan1 … fellow NLer.
Comment by treb — September 17, 2015 @ 10:04 am
From the Telegraph, the Fed holds rates due to the China woes.
Comment by Les — September 17, 2015 @ 10:09 am
Fed chickens out again, as expected. Dollar continues to weaken. Looks good for Gold.
Comment by Jon - BMR — September 17, 2015 @ 10:13 am
Treb, another Nler. Someone take me in please.
Great news Jon, lets get that canadian dollar rising, I make more money.
Comment by dave — September 17, 2015 @ 10:24 am
Hello Treb!
Comment by Dan1 — September 17, 2015 @ 11:20 am
Volume and sp picking up on GGI. News?
Comment by Dan1 — September 17, 2015 @ 11:46 am
Dave, any intel on EQT? Curious when you think they might close all the financings and start drilling. Good correction for PE?
Comment by Phil — September 17, 2015 @ 12:10 pm
News Releases
September 17, 2015
Garibaldi “Unmasks” 25 sq km of Grizzly Central
Vancouver, British Columbia, September 17, 2015 – Garibaldi Resources Corp. (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to report that geochemical and geophysical results ahead of first-ever drilling have identified significant porphyry-style targets along a distinct 5 km N-S and E-W trend at Grizzly Central. These targets are considered highly prospective for new Cu-Au porphyry discoveries in the heart of northwest B.C.’s prolific Sheslay district where two deposits 10 km apart have already been defined.
Garibaldi’s 2015 program is fully-funded and proceeding aggressively toward drilling.
Crews remain on the ground at Grizzly Central, rapidly finalizing drill targets within this previously untested north to northwest trending corridor in the central part of the Company’s 100%-owned, 286 sq. km Grizzly Project.
Grizzly Central is one of seven major regional target areas outlined at the Grizzly and each has the potential to host mineralized porphyry centers (see map by visiting the following URL: garibaldiresources.com/i/maps/Grizzly/Grizzly-regional-target-areas-2015.jpg).
Grizzly Central Area Historically Overlooked
It should be emphasized that the 25 sq. km area of intense interest at Grizzly Central is relatively low relief and mostly overburden covered (thin to variable) with very limited outcrop, thereby “masking” potential deposits. This significant factor has required modern technology to help locate targets hidden from earlier prospectors. Several sizeable anomalies at Grizzly Central have been prioritized by the company following systematic geochemical and geophysical work completed over the last two years.
Steve Regoci, Garibaldi President and CEO, commented: “The geochemical and geophysical data over Grizzly Central targets provide a clear roadmap. Results are consistent with the signatures that have produced outstanding drill results in the district, and attest to the scale of the mineralizing system in this emerging mining camp.”
Grizzly Central Highlights
•A 5-km north-south belt of elevated magnetic response trends north to northeast over Grizzly Central. It consists of three separate magnetic highs ranging from 500 to 2,000 meters in width;
•Several promising multi-element copper anomalies correspond with the magnetic trends. The anomalies are consistent with results obtained from other overburden covered copper-gold porphyry deposits;
•The strike length of one open-ended geochemical anomaly in the Grizzly Central West grid has been expanded to over 1,000 meters with copper values ranging from background levels up to 1,525 ppm;
•Soil samples at Grizzly Central show a strong correlation between copper and other pathfinder elements including silver.
Drill targets at Grizzly Central are defined by NNE striking structures producing a series of magnetic highs and coincident geochemical anomalies that run parallel to sizeable magnetic lows. These features appear to cross-cut the dominant NW-SE striking regional fabric.
Dominant rock types at Grizzly Central, and elsewhere throughout the property, are related to the Late Triassic-Early Jurassic Kaketsa intrusions and their host volcanic rocks, the Upper Triassic Stuhini Group. These intrusive and volcanic rocks are a key feature at Doubleview Capital’s gold-rich copper porphyry discovery 10 km east of Grizzly Central.
The Company looks forward to providing additional updates on Grizzly Central in the very near future.
Grizzly Subdivided Into 7 Regional Target Areas
The 286 sq. km Grizzly Project is underlain by the same lithlogic units that host the Red Chris mine 100 km to the southeast. In addition to Grizzly Central, Garibaldi is extremely encouraged by its ongoing compilation of new and historical data for the Grizzly West, West Kaketsa, Grizzly Southwest, Grizzly South and Grizzly Southeast areas, in addition to Grizzly East which is immediately adjacent to Doubleview’s growing discovery.
C.J. Greig & Associates Ltd., a respected British Columbia geological consulting firm, is handling data compilation for the Grizzly. Their work on a comprehensive NI-43-101 technical report for the project continues.
Regoci concluded, “We’re very proud of the work our Grizzly team has done to move this large scale project forward in such a systematic way. So much has been learned about this district over the last two years. That puts us in a unique position entering first-ever drilling. Building on successful strategies developed in Mexico, our growing understanding of Sheslay mineralization and the structural fabric of the Grizzly have defined a series of exceptional drill target opportunities.”
Comment by Martin — September 17, 2015 @ 2:30 pm
GGI NR, but still no drilling. Same ole story, no announcement of when drilling will begin.
garibaldiresources.com/s/NewsReleases.asp?ReportID=723294&_Type=News-Releases&_Title=Garibaldi-Unmasks-25-sq-km-of-Grizzly-Central
Comment by Dan1 — September 17, 2015 @ 2:31 pm
Garibaldi “unmasks” 25 sq km of Grizzly Central
TSXV: GGI
OTC: GGIFF
Frankfurt: RQM
VANCOUVER, Sept. 17, 2015 /CNW/ – Garibaldi Resources Corp. (TSX.V: GGI) (the “Company” or “Garibaldi”) is pleased to report that geochemical and geophysical results ahead of first-ever drilling have identified significant porphyry-style targets along a distinct 5km N-S and E-W trend at Grizzly Central. These targets are considered highly prospective for new Cu-Au porphyry discoveries in the heart of northwest B.C.’s prolific Sheslay district where two deposits 10 km apart have already been defined.
Garibaldi’s 2015 program is fully-funded and proceeding aggressively toward drilling.
Crews remain on the ground at Grizzly Central, rapidly finalizing drill targets within this previously untested north to northwest trending corridor in the central part of the Company’s 100%-owned, 286 sq. km Grizzly Project.
Grizzly Central is one of seven major regional target areas outlined at the Grizzly and each has the potential to host mineralized porphyry centers (see map by visiting the following URL:[url= garibaldiresources.com/i/maps/Grizzly/Grizzly-regional-target-areas-2015.jpg] garibaldiresources.com/i/maps/Grizzly/Grizzly-regional-target-areas-2015.jpg[/url]).
Grizzly Central Area Historically Overlooked
It should be emphasized that the 25 sq. km area of intense interest at Grizzly Central is relatively low relief and mostly overburden covered (thin to variable) with very limited outcrop, thereby “masking” potential deposits. This significant factor has required modern technology to help locate targets hidden from earlier prospectors. Several sizeable anomalies at Grizzly Central have been prioritized by the company following systematic geochemical and geophysical work completed over the last two years.
Steve Regoci, Garibaldi President and CEO, commented: “The geochemical and geophysical data over Grizzly Central targets provide a clear roadmap. Results are consistent with the signatures that have produced outstanding drill results in the district, and attest to the scale of the mineralizing system in this emerging mining camp.”
Grizzly Central Highlights
A 5-km north-south belt of elevated magnetic response trends north to northeast over Grizzly Central. It consists of three separate magnetic highs ranging from 500 to 2,000 meters in width;
Several promising multi-element copper anomalies correspond with the magnetic trends. The anomalies are consistent with results obtained from other overburden covered copper-gold porphyry deposits;
The strike length of one open-ended geochemical anomaly in the Grizzly Central West grid has been expanded to over 1,000 meters with copper values ranging from background levels up to 1,525 ppm;
Soil samples at Grizzly Central show a strong correlation between copper and other pathfinder elements including silver.
Drill targets at Grizzly Central are defined by NNE striking structures producing a series of magnetic highs and coincident geochemical anomalies that run parallel to sizeable magnetic lows. These features appear to cross-cut the dominant NW-SE striking regional fabric.
Dominant rock types at Grizzly Central, and elsewhere throughout the property, are related to the Late Triassic-Early Jurassic Kaketsa intrusions and their host volcanic rocks, the Upper Triassic Stuhini Group. These intrusive and volcanic rocks are a key feature at Doubleview Capital’s gold-rich copper porphyry discovery 10 km east of Grizzly Central.
The Company looks forward to providing additional updates on Grizzly Central in the very near future.
Grizzly Subdivided Into 7 Regional Target Areas
The 286 sq. km Grizzly Project is underlain by the same lithlogic units that host the Red Chris mine 100 km to the southeast. In addition to Grizzly Central, Garibaldi is extremely encouraged by its ongoing compilation of new and historical data for the Grizzly West, West Kaketsa, Grizzly Southwest, Grizzly South and Grizzly Southeast areas, in addition to Grizzly East which is immediately adjacent to Doubleview’s growing discovery.
C.J. Greig & Associates Ltd., a respected British Columbia geological consulting firm, is handling data compilation for the Grizzly. Their work on a comprehensive NI-43-101 technical report for the project continues.
Regoci concluded, “We’re very proud of the work our Grizzly team has done to move this large scale project forward in such a systematic way. So much has been learned about this district over the last two years. That puts us in a unique position entering first-ever drilling. Building on successful strategies developed in Mexico, our growing understanding of Sheslay mineralization and the structural fabric of the Grizzly have defined a series of exceptional drill target opportunities.”
Grizzly Video
To view a short Garibaldi video on the Grizzly Project, featuring drone video footage from Grizzly Central, please visit the following URL:
garibaldiresources.com/s/Media.asp#Grizzly
Exploration/Drilling Permit & Stakeholder Discussions
Garibaldi is carrying out its 2015 program at the Grizzly in accordance with the 5-year, area-based Notice of Work permit that was approved by the B.C. Ministry of Mines during the summer of 2014. The Company is maintaining an active and positive dialogue with all stakeholders in this important region to help advance the Grizzly and the district in a way that respects the framework and the guiding principles set out in British Columbia’s historic 2011 Land Use Plan covering this area.
First Nations issues and concerns – social, cultural, environmental and economic – are a high priority for Garibaldi. The Company points to the successful Tahltan-Imperial Metals Corp. co-management agreement for the Red Chris mine as a model for how First Nations and resource companies can work together effectively for the benefit of all concerned while enhancing British Columbia’sreputation as one of the world’s top jurisdictions for exploration and sustainable mining development.
Cautionary Statement
While Garibaldi is very encouraged by the exploration results to date at the Grizzly, particularly in the context of the Sheslay district, the Company wishes to emphasize that there is no certainty it will identify a deposit or resource on the property. In addition, other porphyry deposits in the Sheslay district may not be indicative of the mineralization that may be found on the Grizzly.
Qualified Person
Mr. Charles Greig, M.Sc. P. Geo., a consultant for the Company’s Grizzly Project and a Qualified Person as defined by NI-43-01 regulations, has reviewed this news release and approved the contents thereof.
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on creating shareholder value through discoveries and strategic development of its assets in some of the most prolific mining regions in Mexico and British Columbia.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per: “Steve Regoci”
Steve Regoci, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or the accuracy of this release.
SOURCE Garibaldi Resources Corp.
image: rt.newswire.ca/rt.gif?NewsItemId=C8903&Transmission_Id=201509171800CANADANWCANADAPR_C8903&DateId=20150917
For further information: GARIBALDI RESOURCES CORP., 1150 – 409 Granville Street, Vancouver, BC V6C 1T2, Telephone: (604) 488-8851, Website: GaribaldiResources.com
Read more at stockhouse.com/companies/bullboard/v.ggi/garibaldi-resources-corp#fiwCJucDSSV85863.99
Comment by treb — September 17, 2015 @ 2:35 pm
Ggi update…..
Comment by Tombc — September 17, 2015 @ 2:35 pm
Great targets, but Come on Regoci, let shareholders know when the drill will turn.
Comment by Dan1 — September 17, 2015 @ 2:39 pm
Looks like imminently, Dan. “Garibaldi’s 2015 program is fully-funded and proceeding aggressively toward drilling.” The weather is still good, they’re not going to wait much longer. We’ve heard reports from our sources up there of a drill on standby.
Excellent news. Looks like they’ve uncovered some secrets buried under overburden at Grizzly Central. Regoci has agreed to an interview with us tonight. Sounds like he has a lot to say.
Comment by Jon - BMR — September 17, 2015 @ 2:55 pm
EQT shareholders. This is a possibility, the next few days will tell the story.
The second PP should close the end of next week. With this being said and my long post yesterday about timing for the first week of November, here is what my gut and my uncanny anticipation that has made so many calls tells me.
At this early moment, it appears that the EQT chart is setting up to do a symmetrical triangle. The bad, it won’t break out for another week and a half to 2 weeks. The good, when she does break, its going to be a strong one that blows through the .23 Fib. and move straight to the .36 in relative short order. Symmetrical triangles provide a history of powerful breakouts.
Now, why do I say this. Well, looking at the chart with the move to .22 and then the big swing down to .155 has set up the top or outside of the ice cream cone as of now. We had a strong rebound to the upside yesterday and a move to the downside today. The PP is a week plus away from being closed. I don’t think this will breakout during that time frame. So that leaves us with the perfect time frame to set up this triangle.
During this process, we should see higher lows from .155 and lower highs from .22 on the green days. When the cone narrows to the apex, we would see a very low volume day with very little price movement, maybe a penny at most.
Then, KABOOOOMMMMM. It’s a serious hard breakout into the 30’s. I want to draw everyone’s attention to the chart of YFI. Starting in March YFI had two legs up in it’s run only to come back and correct, but never violating the upward overall trend. Then in May it happened. The symmetrical triangle formed and the final day before breakout the resistance was .22 and the support was .20. Basically no range at all between the 2. I bought at the open the next morning and it took off that day to .28 and the rest was history as it climbed to .62 in short order.
EQT chart is very similar to YFI. The news also came out on YFI the next day. I find it amazing that CEO’s happen to come out with news right when the chart seems to support a break out right at that time.
Now, I can be wrong here of coarse and news can come out tomorrow. But, I don’t think Kyler will put anything out until this PP closes because then the stock is free to run. This PP is a little different than the first one and should close by end of next week.
Anticipating all this and looking at the chart as of today, this is what I feel will happen. I say we are 2 weeks away from the start of drilling which puts Kyler right on schedule for what is coming the first week of November. If the first drill hole or holes are done by the 3rd week of October, Kyler will put a rush on them (100% know this) and he will have the results in his hand in 7 days just prior to the start of November.
Nothing has changed as far as the fundementals and every one who is breathing knows this stock is about to have a serious run.
But in case I am wrong and news comes out on drilling and they can let the stock run even though second PP is not done, it would be wise to be very careful to day trading flipping this thing for a couple pennies. Who was it yesterday that said he never thought he would have got back in EQT at .16 – The day will come when you won’t and you will have to pay higher if you don’t time this right. Cheers
Comment by dave — September 17, 2015 @ 3:03 pm
GGI – thats great news for GGI. Glad I got in at .05 – BUT, trying to locate a drill on standby. Kinda agree with Dan, when they going to drill that thing. It sounds a ways away yet.
Comment by dave — September 17, 2015 @ 3:23 pm
Jon, can you as him when the drill will turn? I think he owes his shareholders that much after 2 years of waiting. Thanks,
Comment by Dan1 — September 17, 2015 @ 3:29 pm
Not a case of trying to locate a drill on standby, Dave. There are several at GGI’s disposal up there. Would take 3-4 days to mobilize, as soon as they determine the precise drill targets. A little logic here. They have a camp but not a fully winterized camp at this point (unlike DBV), which means (knowing the area) they will want to COMPLETE their initial round of drilling within the next 30 days. If they hit, you can be sure they will quickly put together a camp like Farshad did in March 2014 which would take no more than a week to construct. So there’s your timeline. They’ll be mobilizing sooner than you think.
Between Garland and the Grizzly, we all could be in for some real magic shortly.
Comment by Jon - BMR — September 17, 2015 @ 3:32 pm
Drill targets at Grizzly Central are defined by NNE striking structures producing a series of magnetic highs and coincident geochemical anomalies that run parallel to sizeable magnetic lows. These features appear to cross-cut the dominant NW-SE striking regional fabric.
Jon, this statement above would indicate drill targets are ready? Why wouldn’t the drill be mobilized already? Maybe Regoci can clarify for you.
Comment by Dan1 — September 17, 2015 @ 3:37 pm
Geesh, didn’t mean to get ya riled. Cool Jon, lets hope.
Comment by dave — September 17, 2015 @ 3:39 pm
Wow fantastic news, this is the most exciting play I have ever been in.
”The anomalies are consistent with results obtained from other overburden covered copper-gold porphyry deposits”
It’s flat lying so more fluid for higher grade.!!
The way the news is presented tell the degree of confidence they have.
This will Skyrock!!
Comment by Martin — September 17, 2015 @ 3:43 pm
No problem, Dave, wasn’t riled, just missed my regular afternoon coffee, and trying to clarify, sorry. Dan, just spoke briefly to Regoci after news came out in preparation for interview. Crews are on the ground gathering last minute information. They have targets they can drill right now. They’re in the last stages of “refining” and “prioritizing”. They want to get it right and hit on one of the first few holes for sure. Like I mentioned in earlier post, they are going to want to COMPLETE their initial round of drilling within 30 or so days. They have little time to waste.
Comment by Jon - BMR — September 17, 2015 @ 3:49 pm
Thanks Jon. Now I feel better.
Comment by Dan1 — September 17, 2015 @ 3:51 pm