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Gold is off sharply this morning but should find support around current levels…Gold is down $10 an ounce to $1,135 as of 8:45 am Pacific time…the CDNX has declined to its 20-day rising moving average where it has found strong support on numerous other occasions including last month…the Venture has dropped 9 points to 1639…Gold Bullion Development (GBB, TSX-V) is trading strongly this morning in anticipation of news, possibly later today…GBB is up 1.5 cents to 36.5 cents on over 1 million shares…at BMR, we have every confidence the Granada Gold Property is going to deliver the goods for Gold Bullion and its shareholders…after a powerful move yesterday, Richfield Ventures (RVC, TSX-V) has pulled back a little to $2.05, a 15-cent drop…Richfield is extremely attractive on any weakness…Seafield Resources (SFF, TSX-V) closed below its 100-day moving average (24 cents) yesterday for the first time since its big move began last summer…this implies possible further weakness but that would only present some excellent buying opportunities as the stock is strongly supported by fundamental factors as well as a rising 200-day moving average just above 18 cents…Seafield is off a penny this morning to 22.5 cents…

Well, here we are folks – very close to what we believe will be another defining moment in the history of Gold Bullion Development (GBB, TSX-V).

As everyone knows, we’ve been extremely bullish on the Granada Gold Property since we first started taking a look at it late last year.  We spent three days in the LONG Bars Zone last month.  BullMarketRun has been the authority on this play from the outset, and we are as confident as ever this morning that Granada is once again going  to deliver BIG for Gold Bullion which we first uncovered at just 7 cents last December.

The Coffin brothers – respected throughout the resource industry – picked up on this story last month, and we’re now hearing reports of other analysts who are about to endorse Gold Bullion as well.  We’re convinced the LONG Bars Zone Preliminary Block Model produced by GENIVAR – one of the top geological firms in the business – is going to demonstrate very clearly that Granada is on its way to becoming the next major gold discovery along the prolific Cadillac Trend.

A week ago last Monday afternoon, Gold Bullion President/CEO Frank Basa told us in an interview that he expected to release the LONG Bars Zone Preliminary Block Model and an exploration update on the Granada Gold Property within 7 to 10 days.  Ten full days from last Monday afternoon is officially up later today.   Of course we could be wrong and we have no way of knowing for sure, but our gut feeling is that today is the day – the March 1 news came out after the close, so that’s our guess for today.

Granada is for real.  The LONG Bars Zone is already large and potentially could be huge.  Mineralization is near-surface and open in all directions.  Nearly 500 historical holes were drilled.  The potential economics are robust – this has all the makings of a low-cost producer.  Gold Bullion controls nearly 5,000 hectares, a vast majority of which has yet to even be explored.  A 30,000 tonne bulk sample has already been done and delivered a grade of 1.62 g/t Au.  All the necessary infrastructure surrounds the property which is in the best mining jurisdiction in the world – Quebec.  A major new drill program is about to start.  This has large bulk tonnage and open-pit written all over it.  Our question is, how can this possibly not succeed?

Granada is an exciting and compelling exploration story with a dirt-cheap current market cap of $36 million given our assumption that this is going to turn out to be a 5 million+ ounce deposit.

Genuine opportunities like this don’t come along every day.  We’re excited for shareholders and we’re excited for Gold Bullion and Frank Basa.  This is an important part of what Canada is all about – risk-taking, entrepreneurial junior mining companies making significant resource discoveries with millionaires made in the process.

As regular BMR readers know, Richfield Ventures (RVC, TSX-V) has been a favorite of ours for several months.  We first highlighted Richfield in December when it was sitting at $1.20.  Today it was very strong and closed up 29 cents to $2.20, so RVC has delivered big returns for some of our readers.  Is it time to sell?  Not a chance.  Like Gold Bullion, this is one of those stocks you want to maintain a core position in for a potential takeover at much higher prices down the road.  With a MAJOR discovery brewing at Richfield’s Blackwater Project in central British Columbia, this stock – much like Gold Bullion – could easily deliver massive gains in the weeks and months ahead.

Blackwater is a potential world class bulk tonnage, open-pit deposit located 150 kilometres southwest of Prince George, BC.  Richfield drilled 18 holes last year, between August and October, and some of the results were absolutely spectacular (most holes less than 200 metres in depth):

BW-59: 329 metres @ 1.24 g/t Au

BW-57: 133.7 metres @ 1.02 g/t Au

BW-48: 148 metres @ 1.26 g/t Au

BW-47: 96.8 metres @ 1.01 g/t Au

BW-46: 207 metres @ 1.06 g/t Au

BW-43: 152 metres @ 0.77 g/t Au

BW-42: 98 metres @ 1.25 g/t Au

Richfield has commenced a 25,000 metre follow-up drill program at Blackwater which will lead to a NI-43-101 resource estimate by early next year.   They are currently deepening BW-59 to 700 metres from 329 metres.  On Monday this week the company reported the hole was at 509 metres and had intercepted similar volcanic lithologies, alteration and sulphide mineralization as seen in the upper 329 metres (BW-59 ended in strong mineralization last fall).

Richfield, which has a strong management group and is run by seasoned geologists, has a current market cap of $57 million based on 25,786,636 shares outstanding (40 million fully diluted).  They had $7 million in the treasury at the end of February after completing a major financing last December.

A multi-million ounce deposit appears to be in the works at Blackwater – the drilling this spring and summer will certainly confirm that, one way or the other.  We like Richfield’s chances here – majors are no doubt watching closely, and the possibility of this stock climbing to a market cap of $300 million or better by year-end is certainly very real.  John, BMR’s very proficient technical analyst, also likes RVC as you’ll see below:

Richfield Ventures is very close to breaking out to a new 52-week high.

John: The weekly chart of Richfield Ventures shows that for the past 6 weeks the trading has been confined to a narrow range – $1.77 to $2.20.

A new base of $1.80 has been established and today’s finish at $2.20 is very close to the 52-week high of $2.25 where it met previous resistance.

The RSI is climbing, showing strength and is at the oversold border of 70% which leaves it plenty of room to move up further.

The MACD is above the zero line (bullish) and climbing.

The ADX trend indicator is in a bullish mode – ADX line (black) above +DI (green line) which is above -DI (red line) with the ADX line climbing past 50, showing there is good strength in this uptrend.

Volume moving forward will be important – I believe there needs to be at least 1 million shares traded this week (450,000 have traded so far) to ensure further price gains and a close above $2.20 by Friday, which is certainly possible.

At BMR, we look at a stock from both a fundamental and a technical perspective.  We know all about the fundamentals driving Gold Bullion Development (GBB, TSX-V) – namely, the growing realization that this company is well on its way to discovering a potentially massive bulk tonnage, open-pit deposit at its Granada Gold Property 65 kilometres west of Osisko’s (OSK, TSX) 10 million ounce+ Canadian Malartic Deposit.

We expect a Granada exploration update from Gold Bullion by tomorrow (or Friday at the very latest).  And the GBB chart confirms to us we can expect that this news is going to be good.  John, BMR’s contributing technical analyst, updates us this morning (8:45 am Pacific time) on a possible imminent new upleg in Gold Bullion:

GBB remains in a very bullish state.

John: Gold Bullion rose yesterday to a new 52-week high of 39 cents where it met resistance and through the day declined to form a new strong base at 35 cents, finishing down a penny at 35.5 cents.

Looking at the chart we see that the stock is trading in an upward channel with the high of the day right at the top sloping resistance (green line).  The horizontal blue line shows strong support at 33 cents.

A band of resistance is expected between 39 cents and 42 cents (Fibonacci target level).  A move thru 42 cents raises the Fibonacci target considerably to above 60 cents.

On the RSI indicator a trendline is drawn (mauve line) indicating a weakness in strength but on April 8th prices rose and the RSI broke up through the trendline (vertical green line), bringing an end the divergence between the price and the RSI as shown by the sloping mauve lines.

The orange lines show price and the RSI both moving up in parallel, negating the negative effects of the divergence.  Thus the stock is gaining strength every day.

Volume on up days is at least twice that of down days, a very bullish confirmation that the stock is gaining strength.

The Slow Stochastics %K (black line) did not cross down through the %D (red line) and is rising – bullish.

The trend indicator ADX is still in a very bullish mode with the ADX line (black) above the + DI line (green) which is above the -DI line (red).

GBB is trading near the top of its upsloping channel and with high volume and good news we could see the stock imminently move through the band of resistance and continue up above 42 cents.

Gold continues to trade favorably and is up $3 an ounce as of 8:00 am Pacific time to $1,144…gold’s sharp sell-off Friday, which extended into early trading Monday, was healthy from a technical standpoint and has likely laid the groundwork for an eventual successful move through resistance at $1,170…the CDNX is up 2 points to 1,654…Gold Bullion Development (GBB, TSX-V) has pulled back from a high of 39 cents yesterday into a strong zone of support where we expect a powerful new upleg will begin that could drive this stock through resistance in the upper 30’s to a new all-time high…we expect an exploration update on Granada by tomorrow given the 7 to 10-day window that Frank Basa gave BMR in our interview with him last week…we are extremely bullish on what the Block Model may deliver given our extensive research on Granada and what we saw and reported on during our 3-day site visit last month…Gold Bullion touched a low of 34 cents this morning and is currently trading unchanged at 35.5 cents and showing technical signs of another imminent push higher…North Arrow Minerals (NAR, TSX-V) has commenced its spring drilling program at its Beaverdam Lithium Project in North Carolina…initial drilling completed by North Arrow in the fall of last year tested only 9 of over 37 pegmatite bodies that have been mapped within the project area…12 drill holes were completed and all intersected lithium-bearing pegmatites with assays including 1.24 per cent Li2O over 13 metres…the project’s numerous untested targets, advantageous location and proximity to infrastructure highlight the project’s potential for discovery of an American domestic lithium source…BMR is very bullish on the prospects for North Arrow given its strong management and geological expertise combined with an outstanding package of lithium, diamond, base metal and gold properties…the stock closed yesterday at 21 cents and looks very strong as well from a technical standpoint…Richfield Ventures (RVC, TSX-V) looks poised to make another move past the $2 mark…as regular BMR readers know, we believe Richfield’s Blackwater Project in central British Columbia has excellent potential to host a world class bulk tonnage gold deposit…they drilled some phenomenal intersections last year and a 25,000 metre drill program has now resumed at Blackwater….Richfield’s 20-day moving average is about to swing positive, confirming a new and immediate upleg in this stock which is off a nickel this morning to $1.86…

Gold has rebounded nicely and is up $6 an ounce as of 7:35 am Pacific time to $1,141…the CDNX, which seems to have found some very strong support at 1650 over the past week, is currently up 4 points to 1658…Gold Bullion Development (GBB, TSX-V) continues to motor along and is up another 1.5 cents to 38 cents…GBB hit a new 52-week high of 39 cents this morning where there is clearly some resistance at the moment…given the timeline that Frank Basa gave us in our interview with him last week, we expect news from Gold Bullion by Thursday or Friday at the very latest…Seafield Resources (SFF, TSX-V) has come out with news this morning on its Miraflores Property in Colombia…Seafield traded 1.2 million shares in the first 30 minutes this morning, climbing as high as 28.5 cents…it has since backed off to 25 cents, a half cent gain…as we mentioned yesterday after our weekend interview with President/CEO Tony Roodenburg, now is a great time to be accumulating Seafield…some cheap private placement stock from December is still being sold into the market but that selling should begin to dry up fairly soon…Seafield announced it has completed a NI-43-101 compliant initial inferred resource estimate for Miraflores, revealing an estimated 776,000 ounces of gold grading 1.3 grams per tonne gold at a cut-off grade of 0.5 gram per tonne gold…the estimate is based on 3,624 metres of drilling in 10 diamond drill holes and 154 underground samples (previous operators)…Richfield Ventures (RVC, TSX-V) has started drilling its Blackwater Gold Project again in central British Columbia…they are deepening Discovery Hole BW-59 to 700 metres from 329 metres…the hole is currently at 509 metres and has intercepted similar volcanic lithologies, alteration and sulphide mineralization as seen in the upper 329 metres…Richfield is up 7 cents to $1.85…Colombian Mines (CMJ, TSX-V) has bounced off its 50-day moving average as predicted and is currently up 11 cents to $1.31…

After Friday’s sell-off Gold fell further overnight to as low as $1,123 before rallying…as of 8:50 am Pacific time it’s down just $3 an ounce to $1,134…Gold’s technicals are still in very good shape…the CDNX is finding strong support at 1650 with the third test of that area in a week…the Venture is currently off 13 points to 1654…Gold Bullion Development (GBB, TSX-V) is enjoying another strong day with a 3 cent gain to 36 cents on nearly 2 million shares…we expect an important exploration update on Granada from GBB sometime this week…now is a good time we believe to be accumulating Seafield Resources (SFF, TSX-V)…we don’t expect Seafield to make another huge move for a little while yet but we’re confident that’s going to happen after our conversation regarding the company’s prospects with President/CEO Tony Roodenburg Friday night…Seafield is trading right at its 100-day moving average of 24 cents where it has a lot of technical support…the company will be ramping up exploration at its Colombian properties with drilling expected to commence next month at Dos Quebradas…Kent Exploration (KEX, TSX-V) is up half a penny to 19 cents this morning…selling seems to have really dried up on Kent below 19 cents…we expect North Arrow Minerals (NAR, TSX-V) to start drilling its Beaverdam Lithium Property in North Carolina any day now…the Venture Exchange on Friday approved NAR’s recently announced private placement at 18 cents…Richfield Ventures (RVC, TSX-V) is off 9 cents to $1.80 and a technically astute entry point on Richfield this week would probably be right around its rising 50-day moving average just below $1.70…we are very bullish on Richfield’s Blackwater Gold Project in central British Columbia which has excellent potential to develop into a world class bulk tonnage, open-pit deposit…

Mines are made, not found.  And no one understands that old adage better than Gold Bullion Development (GBB, TSX-V) President/CEO Frank Basa which is why this company is enjoying so much success developing its Granada Gold Property near Rouyn-Noranda, Quebec.

Any day now – this week for sure – investors are going to get their best indication yet of the real potential of the LONG Bars Zone at Granada when Gold Bullion releases its Preliminary Block Model.  New assay results are coming as well but the really critical news will be the Block Model which is expected to contain a 43-101 non-compliant estimate of the potential ounces in the ground within the model boundaries.  Based on all of BMR’s research to date, including a three-day site visit in March, the Block Model number is likely going to propel this company to a new level.   We’ve said this many times and we’ll state it again – the gold is there in our view at Granada and all Gold Bullion has to do is drill like crazy to ultimately prove up a 5 million+ ounce deposit.  A major new drill program starts at Granada next month.

The target of all previous work at Granada, prior to Gold Bullion acquiring the property in 2006, was individual, high-grade quartz veins which could support underground mining.  Some 50,000 ounces of gold was produced this way in the 1930’s until a fire destroyed the mill structures in 1935.  Extensive exploration in the 1980’s and 1990’s also focused on the high grade quartz veins.

The 52 year-old Basa, a very bright metallurgical engineer who got some extremely valuable operational experience with Agnico-Eagle Mines in the early part of his mining career, took a new approach with Granada – one that appears to be paying off tremendously as Gold Bullion inches closer to discovering a major bulk tonnage, open-pit deposit.

Osisko (OSK, TSX) used a fresh approach and made a massive discovery 65 kilometres to the east at Canadian Malartic, also a former producer.  Basa did his homework, studied all the historical information from Granada, and even completed a 30,000 tonne bulk sample (plus a waste pile sample) prior to the start of any drilling by Gold Bullion to get a better understanding of what he was dealing with.  He also got silver, nickel and copper values in the bulk sample, leaving him to believe there could be more to this story than just a whole bunch of previously undiscovered gold.

While prior Granada operators concentrated on the more continuous quartz veins within the sheer systems at Granada – of course they were operating in a much lower gold price environment so they were focused on high grade – Basa saw a different and much bigger picture, the potential for broad-based lower grade mineralization (1 g/t Au or better) over a very large area that would support a bulk tonnage, open-pit model.  With the prolific Cadillac Fault traversing the northern portion of the property, and the Granada land package (now 5,000 hectares) mostly unexplored and much bigger than what others worked with in the past, Basa’s thinking made a lot of sense. A prominent zone of deformation, hydrothermal alteration and quartz-veining extends for at least five kilometres around the old mine workings, as revealed by Gold Bullion in its March 1 news release.

Gold Bullion’s first-ever drill program at Granada has demonstrated that gold mineralization in the LONG Bars Zone is near-surface and widespread.  In the days, weeks and months ahead we’ll learn much more about what’s driving all of this and why Granada is such a fascinating and somewhat unusual quartz-vein type deposit.

The potential economics of Granada could be very robust – this should be a low-cost gold producer.    Not only is mineralization near-surface, but Gold Bullion’s bulk sample showed high recoveries (90%) and no metallurgical issues with the ore (historical mill recoveries at Granada were up to 95%).  The property is surrounded by excellent infrastructure and is located in what’s regarded as the best jurisdiction in the world for mining and exploration.

The best news of all – this stock is sitting at just 33 cents for a market cap of only $34 million.  Osisko is taking over Brett Resources (BBR, TSX-V) and its 6 million ounce bulk tonnage, open-pit deposit for $375 million.  Think about it.

The blue sky at Granada is looking more magnificent every day.