Visit the BMR comments section throughout the day for updates and helpful information…
1. Gold has traded between $1,224 and $1,233 so far today…as of 7:00 am Pacific, the yellow metal is up $3 an ounce at $1,230…soft U.S. inflation figures in September have prompted some investors to re-evaluate the Fed’s hiking path beyond December…with President Trump’s recent criticism of the Fed adding to the factors that have weakened the dollar, Gold seems likely to maintain its momentum during this last half of October…Gold prices could easily post more gains due to record short positioning, with prices potentially rallying to near $1,280 an ounce, according to respected TD Securities‘ analyst Bart Melek…“Considering that Gold is sitting very near a key resistance point ($1,228/oz, 100-day SMA) and that there is record short exposure, it would not be surprising to see a breakout toward the 200-day SMA near $1,277 should U.S. equities show additional weakness,” Melek commented…Silver is up 9 cents at $14.75…Copper is off 3 pennies at $2.83…Nickel is 4 cents lower at $5.67 while Zinc is flat at $1.19…Cobalt has shot up $2.04 a pound to $28.35…Crude Oil has eased off another 24 cents to $71.51 a barrel while the U.S. Dollar Index is up one-fifth of a point at 95.19…
2. Cannabix Technologies (BLO, CSE) announced this morning that it has short listed 2 potential medical device development companies in order to develop the next version of its Marijuana Breathalyzer as well as create multiple devices that would be used for pilot testing…meanwhile, the company commented on tomorrow’s “historic” day in Canada when recreational marijuana officially becomes legal…“The introduction of legalized marijuana use in Canada is a watershed moment as it relates to public safety on our roads and workplaces. Cannabix applauds the significant efforts that are underway by the Government of Canada and others to increase public awareness of the dangers of drugged driving on our roadways and the acute problems of being under the influence of drugs in the workplace. A recent survey by the Angus Reid Institute (September 25, 2018) finds a majority of Canadians lack confidence in the ability of their community police to assess and punish those driving under the influence of marijuana. Furthermore, according to MADD Canada, drugs are present in fatal crashes nearly twice as often as alcohol and that Canada’s existing system does a very poor job of detecting drivers under the influence of drugs (news release May 29, 2018). The Human Resources Professionals Association in January 2018, conducted a survey in Ontario and found that 71% of its members do not feel prepared for legalization, with almost 48% citing concerns about ensuring a safe workplace. As the issue of drugged driving and influence of drugs in the workplace becomes increasingly acute, Cannabix is using its technology, research and development (R&D) and scientific experience to develop effective tools to aid law enforcement and help governments and the public transition to marijuana legalization in various jurisdictions”…BLO is up 2 pennies at $2.25 as of 7:00 am Pacific…historically, big moves have occurred in BLO after reversals to the upside around the same time in its 50 and 100-day SMA’s (a recent technical development)…
3. It’s a disgrace that Canadian politicians seem more concerned about getting pot to market than Oil to market…what have we become as a country?…we’re teaching our kids that Oil is “dirty” and is “killing” the planet, but smoking dope is just fine?…who took us down this slippery slope?…Canadian Oil companies are scrambling to find places to store or ship their “distressed barrels” amid record-setting $50 (U.S.) per barrel discounts, which is hitting a large proportion of their production, due to a lack of pipeline capacity…this is a national economic tragedy, costing Canada billions of dollars, yet the vocal left is more concerned about pinning Canada to a globalist “climate change” agenda that has turned into a tax-hiking, Big Government scam…Calgary-based heavy Oil producers have been scrambling to hedge, frantically searching for more railway cars (environmentally less friendly than pipelines, ironically!) or storage space…if you add it all up, GMP FirstEnergy analyst Michael Dunn said, the 3.5 million barrels of per day of total Western Canadian Oil production is trading at a minimum $30 (U.S.) per barrel discount, which means producers are losing out on around $100 million in revenues every day…governments (taxpayers) are also losing out, too…Canada has been blessed with Oil, it helped create the wealth Canadians take for granted, but marijuana is more of a priority now than pipelines…go figure…
4. Further to the story that BMR broke last Friday, Sable Resources (SAE, TSX-V) announced this morning that it’s the new owner of a nearly 2,000 sq. km land package in British Columbia’s southern interior…as we reported, the belt was originally staked by 2 individuals connected with Barkerville Gold (BGM, TSX-V) at the end of September, but who was really behind that staking remained to be seen until now…the land package covers over 70% of workable ground of the Spences Bridge Gold Belt (SBGB), a 200-km-wide, emerging low-sulphidation epithermal Gold Belt that Sable believes to be prospective for Fruta del Norte style high-grade epithermal mineralization…Sable also announced this morning that it has formed a strategic alliance with Westhaven Ventures (WHN, TSX-V) which released high-grade intercepts at its Shovelnose Project (part of the SBGB) October 2…the alliance brings together Sable’s and Westhaven’s technical expertise and combined control of 86% of the Gold Belt (225,000 hectares)…the CEO and Chairman of Sable is long-time industry player Tom O’Bradovich, the former President and CEO of Barkerville (January 2015 to July 2016)…
5. The Wall Street Journal reported this morning that Uber Technologies recently received proposals from Wall Street banks valuing the ride-hailing company at as much as $120 billion in an initial public offering that could take place early next year…that eye-popping figure is nearly double Uber’s valuation in a fundraising round just 2 months ago and more than General Motors, Ford Motor and Fiat Chrysler are worth combined…Goldman Sachs and Morgan Stanley last month apparently delivered the valuation proposals to Uber…these documents, which typically advise on how to position shares to potential investors, are a common step before banks are formally hired to underwrite IPOs…the bank presentations show Uber gathering momentum toward an IPO that is among the most hotly anticipated on Wall Street and Silicon Valley and could come sooner than expected as the new-issue market sizzles…founded in 2009 and sustained by an ample supply of private capital, Uber is seen as a bellwether for a crop of highly valued startups that have delayed tapping the public markets…
6. The Dow has jumped 257 points as of 7:00 am Pacific, and the S&P and NASDAQ are broadly higher, on positive earnings news from the likes of heavyweights Morgan Stanley, Goldman Sachs, Johnson & Johnson and UnitedHealth…in Toronto, the TSX has climbed 80 points while the Venture has slipped 6 points to 705 on weakness in the cannabis sector…Aben Resources (ABN, TSX-V) is under pressure after releasing assay results from 3 holes drilled (the first ever) at its South Boundary target, 1.5 km from strong precious metal mineralization drilled into at the North Boundary zone…hole FK18–21 intersected 379.2 meters of 0.10 g/t Au starting at a depth of 4.8 m, including 89 m of 0.24 g/t Au and 9 m of 0.95 g/t Au…Gold values in all 3 holes at South Boundary ranged from trace amounts to greater than 5 g/t in the 1 or 2-meter sample intervals…certainly won’t get the market excited but geologists are encouraged by the broad zones of pervasive alteration with abundant quartz-sulphide veins and mineralized breccia zones in this first-pass drilling…Aben has completed drilling at its Forrest Kerr Project with results pending for 24 more holes from North Boundary…
7. PyroGenesis Canada (PYR, TSX-V), the world leader in the design, development, manufacture and commercialization of advanced plasma processes, announced this morning that it has completed construction of its cutting-edge additive manufacturing metal powder production facility…the facility will be strictly dedicated to the production of plasma atomized Ti-6Al-4V powders, primarily targeting the aerospace and biomedical industries…“We are very excited about having completed this milestone. It puts PyroGenesis squarely on the map as a quality supplier of Ti-6Al-4V powder for the AM industry,” stated Massimo Dattilo, VP of PyroGenesis Additive…“In parallel, we are also investigating other materials which can be produced with our other reactors, currently in our main facility”…this $2.5 million facility now houses 1) a new plasma-based atomization unit, incorporating some of the previously announced advances; 2) inventory storage; and (3) logistics operations…these changes have reduced capital cost significantly, according to the company, while future innovations (once completed) will increase yield and production rates…PYR appeared to bottom in early September in the high 30’s…it’s off a penny at 50 cents as of 7:00 am Pacific…
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Have you guys seen the video of Frank Basa being interviewed by Tracy of InvestorIntel on YouTube? He talks about the different battery grades manufacturers are looking for Cobalt sulphate, Nickel sulphate etc. He also talks about his meetings he’s had with “Nissan”. Pretty encouraging stuff, and with drill results due any time now….. This is looking real good!!
Comment by Ed — October 16, 2018 @ 10:43 am
CCW = Octoberfest – bring the assays , as well as year round drilling , be steady news flow
Comment by Silverhook — October 16, 2018 @ 1:54 pm
I just watched the video with Frank Basa. It is excellent and clearly points out the explosive potential we have here with CCW. My advice is, if you have any free cash available please do yourself a favour and buy as much of this stock as you can BEFORE it rockets away to the stratosphere. Nice post Ed.
Comment by Raffi14 — October 16, 2018 @ 3:31 pm
Anonymous does not want the price of GT Gold to go up
Comment by DavidW — October 16, 2018 @ 3:51 pm
Do we know if CLM was able to pull off a drill program at Burgandy Ridge?
Comment by Dan1 — October 17, 2018 @ 6:56 am
Interesting insights I bet regarding their Gowganda Cobalt property, Ian Pringle (Technical Director, BATTERY MINERAL RESOURCES) is a presenter next week at the Cathodes 2018 conference in California next week.
http://www.benchmarkminerals.com/events/cathodes-2018/
Comment by Foz1971 — October 17, 2018 @ 6:59 am
Very nice numbers for WHN, resumes at 8:15 am Pacific after halt…last week’s big staking in B.C. is making more sense as each day passes…
WESTHAVEN DRILLS 17.77 METRES OF 24.50 G/T GOLD, INCLUDING 6.78M OF 50.76 G/T GOLD AT SHOVELNOSE
Westhaven Ventures Inc. has released further results from its recently completed drill campaign at its 15,542-hectare Shovelnose gold property, located within the prospective Spences Bridge gold belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, B.C.
Highlights:
– SN18-14: 17.77 metres (m) of 24.50 g/t gold (Au) and 107.92 g/t silver (Ag), including 6.78m of 50.76 g/t Au and 203.54 g/t Ag
– SN18-12: 175.00m of 0.65 g/t Au and 2.08 g/t Ag, including 4.00m of 11.82 g/t Au and 10.92 g/t Ag
– 20-metre quartz vein encountered in hole SN18-15, assays pending
The strike length of the South Zone is 700 metres and open to southeast.
Gareth Thomas, President & CEO of Westhaven stated, “We are pleased to report the widest high-grade drill intercept at Shovelnose, which consists of 17.77m of 24.50 g/t Au and 107.92 g/t Ag, including 6.78m of 50.76 g/t Au and 203.54 g/t Ag (hole SN18-14). It is important to highlight that hole SN18-14 is 300 metres to the southeast of hole SN18-12, (previously announced October 2, 2018) which contains 1.65m of 175.00 g/t Au and 249.55 g/t Ag, including 0.65m of 285.00 g/t Au and 255.00 g/t Ag. Assays pending include hole SN18-15 which is 100 metres to the southeast of hole SN18-14 and contains visible gold. We are initiating a fully financed, follow-up drill campaign to begin in early November as we look to advance this important new discovery.”
Drilling to date is limited so true widths cannot be definitively determined. However, based on the geology of the vein zone with a steep dip to the west, true widths are estimated to be about 80-90% of reported interval lengths.
Peter Fischl, Exploration Manager goes on to add, “Drilling continues to define a horizon of stronger gold mineralization. This hole targeted the shallower portions of the vein system above deeper weakly mineralized vein intersections in holes SN18-09 and SN18-11. Mineralization over the 700m long strike length now appears to be strongest along a horizon centred at about 1200m elevation. Follow-up drilling will test the vertical range and strike length of this horizon.”
Shovelnose Gold Property Overview
There is evidence of a significant mineralized alteration system within the property. Recent drilling intersected 17.77 metres of 24.50 g/t Au, including 6.78 metres of 50.76 g/t Au. For further information on the Shovelnose Gold Property, please visit: http://westhavenventures.com/projects/shovelnose-gold/details/
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in 4 properties covering over 35,000 hectares within the prospective SBGB, which is situated within a geological setting like those which host other significant epithermal gold-silver systems. It is close to major transportation routes and infrastructure allowing for cost-effective exploration. The SBGB is a 110-kilometre northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge Group. Sable Resources and Westhaven have a combined control of 86% of the SBGB (225,000ha). Any ground staked by Sable within 5-kilometre of Westhaven’s existing projects will be subject to a 2.5% NSR. In addition, Westhaven has a 30 day Right of First Refusal (ROFR) for a three-year period for any properties within this 5-kilometre radius. On behalf of the Board of Directors
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
QA/QC
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen. 0.5g of this pulverized split is digested in aqua regia and analyzed via ICP-MS and ICP-AES (method code ME-MS41L), which reports a 53-element suite of elements. All results greater than 100 ppb gold were reanalyzed by ALS using their Fire Assay with an AAS finish, method code Au-AA23 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 micron. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples.
Comment by Jon - BMR — October 17, 2018 @ 7:54 am
GGI any news soon ?
Comment by Jacquez — October 17, 2018 @ 9:13 am
WHN.
you nailed it again Jon. SP seems like it is going GTT style
Comment by George — October 17, 2018 @ 10:02 am
Crystal Lake Corporate Update
Symbol: TSX-V: CLM
VANCOUVER, Oct. 17, 2018 /CNW/ – Crystal Lake Mining Corporation (the “Company” or “Crystal Lake Mining”) is pleased to announce that it has received a conditional acceptance by the TSX Venture Exchange of the Company’s recent transaction with Romios Gold Resources Inc., which was announced in a news release dated September 24, 2018, giving Crystal Lake an option to acquire a 100% interest in the 436 sq. km Newmont Lake Project.
Crystal Lake Mining Corporation (TSX.V: CLM) Announces Drilling Starts at Burgundy Ridge. Burgundy Ridge, never previously drilled, features multiple targets prospective for gold-copper-silver-zinc mineralization based on surface sampling and geophysics. (CNW Group/Crystal Lake Mining Corporation)
Drilling Starts at Burgundy Ridge
The Company has commenced drilling at the Burgundy Ridge target. Burgundy Ridge, never previously drilled, features multiple targets prospective for gold-copper-silver-zinc mineralization based on surface sampling and geophysics. Given the time of the year and the high elevation at Burgundy Ridge, Crystal Lake’s team has been creative in designing what’s expected to be an effective first-pass reverse circulation (RC) drill program through Midnight Sun Drilling.
Once at least three holes have been completed at Burgundy Ridge, the drill rig will be moved to the Newmont Lake gold deposit at a lower elevation to the south where a series of RC holes will test for continuity of high-grade mineralization while also providing samples for metallurgical testing.
Dr. Peter Lightfoot, Crystal Lake’s Technical Adviser, commented: “The Newmont Lake Project is a jewel in the Eskay Rift with deposit potential featuring a range of commodities. We’re excited to start at Burgundy Ridge and the gold deposit to the south.”
Additional Developments
The Company looks forward to providing investors with an update in the near future on its Nicobat Project in northwestern Ontario. Meanwhile, as part of its continuing efforts to maximize shareholder value, Crystal Lake is evaluating potential business opportunities in the non-resource sector with the goal of allowing its shareholders to participate in a non-resource business (separate from Crystal Lake) by way of a plan of arrangement involving a Crystal Lake subsidiary. There can be no assurance that the Company will complete a deal for such an opportunity or that a plan of arrangement will be completed.
Conditional Approval for Romios Deal
Conditions of the TSX Venture Exchange’s final acceptance of the transaction are providing a final agreement regarding the transaction and a financial plan regarding property expenditures and option payments over the 3-year period. The Company may have to provide a technical report with respect to the Newmont Lake Project.
Comment by adrobyshev — October 17, 2018 @ 11:42 am
Jon, as much as you guys have been able to provide us with a mountain of info including several Makela, and Lightfoot interviews plus the Muggridge interview the other day, and all other information you have put together, the share price continues to languish. Is it really that tight lipped up on the mountain or could it be possible they are not hitting so far what we are all hoping? I would think something would have leaked out by now after almost 5 months of drilling. It certainly has tested the longs patience.
Comment by Dan1 — October 17, 2018 @ 1:17 pm
WHN!? Goodness gracious what a tear…come on CCW, give us just 1/2 of that.
Comment by flyinthruu — October 17, 2018 @ 2:17 pm
You have a share price that’s being controlled by technical (chart) factors at the moment, Dan1, which can only change through some news. Never assume that the market and developments on the ground in any situation are necessarily in sync with other each, because quite often that’s not the case – GT Gold was a classic example of that in August and September…
Comment by Jon - BMR — October 17, 2018 @ 3:12 pm
That’s true Jon, and hope you are correct. I hope it’s the naysayers who are turned on their heads, and not us longs.
It’s been almost 4 weeks since last NR and Regoci said continuous news flow after the first NR. It’s time he deliver.
Comment by Dan1 — October 17, 2018 @ 3:18 pm
Spectacular pictures from Crystal Lake drilling this afternoon…watch for an early pre-market BMR Alert tomorrow re: CLM, GGI, CCW, WHN, GTT and more…
Comment by Jon - BMR — October 17, 2018 @ 3:39 pm
That certainly was a nice to see release from CLM today. Hopefully CCW has something of substance to deliver to it’s shareholders as well. Another one overdue for a NR. Looking forward to it Jon.
Comment by Dan1 — October 17, 2018 @ 3:43 pm
Hi Jon,
Today, there was a quiet change in the buying side tactics for GGI. It was strongly bid most of the morning
as though it is under significant accumulation at current prices in the $1.41-$1.42 range with over 30-40,000
shares on the bid, which limited sales volume, but certainly relieved those trying to support the price at these levels. It felt like a news release is imminent, and someone wanted shares prior to the release of news. Your comments please. Thanks.
Bishkek
Comment by Bishkek — October 17, 2018 @ 3:48 pm
Hopefully news shortly from GGI, Bishkek…technicals are controlling the trading action right now but TA also suggests GGI is in an attractive accumulation area now, near the bottom of its trading range since last news…that may help explain what you saw today…
Comment by Jon BMR — October 17, 2018 @ 3:53 pm
You think we are FINALLY close to news on CCW Jon?
Comment by flyinthruu — October 17, 2018 @ 4:09 pm
Imminent, flyinthru, meaning I’d be quite shocked if we don’t hear something by Friday…and things are too good at Castle for this not to be a whopper…
Comment by Jon - BMR — October 17, 2018 @ 4:14 pm
CCW sure not trading like news is imminent, should have waited until today to buy more, oh well pretty much sums it up…
Comment by GREGH — October 17, 2018 @ 4:29 pm
Actually, Gregh, CCW is trading exactly as one would like it to prior to a sudden and explosive move to the upside on a major new development…
Comment by Jon - BMR — October 18, 2018 @ 3:54 am
Good morning Jon. Is Nickel Mountain getting snow? Someone posted on a board that they had 15 cm snow yesterday with another 20 cm coming tomorrow
Comment by Dan1 — October 18, 2018 @ 4:34 am
Yes, there is some snow, Dan1, and that’s actually good because it is needed in order to insulate the water lines. Water is being nicely supplied from the adit. A drill will consume 10 to 20 gallons of water per minute.
Comment by Jon - BMR — October 18, 2018 @ 5:25 am