Check back later this morning for today’s BMR Morning Market Musings.
1. Gold weakened into the mid-$1,230’s this morning after some hawkish comments from Fed officials yesterday, while a powerful speech to Congress by President Trump last night has given equities and the greenback a fresh boost…as of 7:00 am Pacific, bullion is off its lows of the day, now down just $7 an ounce at $1,241 while Silver has added 5 cents to $18.34…base metals are firmer after the President reiterated his call last night for a $1 trillion public-private infrastructure program…
2. India’s February Gold imports surged to 50 tonnes, up more than 82% from a year ago, on pent-up jeweller demand and as retail consumers ramped up purchases for weddings, provisional data from consultancy GFMS showed today…the rise in imports by the world’s second-biggest consumer of the precious metal will help support prices trading near their highest levels in 3-and-a-half months. “Pent-up demand on the ease of the cash crunch and wedding related demand lifted imports in February,” said Sudheesh Nambiath, a senior analyst at GFMS, a division of Thomson Reuters…
3. The Venture is down 3 points at 814 as of 7:00 am Pacific, its 4th straight losing session but a welcome development for bargain hunters…exceptional Venture support ranges from 800 to the 780’s…today’s runaway volume leader is once again Saint Jean Carbon (SJL, TSX-V) which climbed as high as 26.5 cents during the first 30 minutes of trading following yesterday morning’s news on a deal with Panasonic…meanwhile, U.S. markets have exploded higher this morning after President Trump knocked the ball out of the park in an inspirational address to Congress last night…the Dow has jumped more than 200 points and the enthusiasm has spilled over to the TSX which has added 112 points as of 7:00 am Pacific…
4. Just 11 miles west of Eskay Creek in the heart of one of the richest mineralized districts on the planet, Garibaldi Resources (GGI, TSX-V) has modeled a Nickel-Copper rich intrusion at Nickel Mountain (E&L deposit) 4 km long and 1.5 km wide – a large tonnage, high-grade exploration target and the Golden Triangle’s only Nickel-Copper massive sulphide system with precious metal and Cobalt values…the model was derived at through inversion analysis for aeromagnetics, outcrop maps, diamond drilling and trenching information, and now a heli-borne electromagnetic survey (EM) is scheduled to be carried out to identify conductive sulphide bodies up to 350 m in depth for specific new drill targets…sulphur analysis of outcropping semi-massive and massive sulphides has produced tenors ranging from 4.8% to 8% Nickel and 2.1% to 10.9% Copper in 100% sulphide…GGI is up 2 pennies at 18.5 cents through the first 30 minutes of trading…
5. Doubleview Capital (DBV, TSX-V) has released more results this morning from the Hat Gold-Copper Porphyry Project that have further extended the main Lisle Zone dimensions…significantly, hole #28 was directed northerly toward the “E” anomaly and intersected 106.85 m @ 0.36% CuEq in a longer mineralized section of 302.5 m at 0.24% CuEq…this has either extended the Lisle Zone about 200 m to the north or is at the edge of the “E” anomaly – either way, that’s an important new development, but the market is still looking for higher grades…
6. Natan Resources (NRL, TSX-V) has announced a name change to “Enforcer Gold” while it has added over 4,000 hectares to its Montalembert high-grade Gold Project in Quebec, more than doubling the size of the land package to 73 sq. km…Natan will start trading under the new symbol “VEIN” on the Venture beginning tomorrow when it will also unveil the company’s new website…with regard to the name change, CEO Steve Roebuck commented, “We wanted a memorable name that reflected the strength of the company and its Canadian roots. The name Enforcer Gold alludes to our national pastime (hockey), while our new ticker symbol VEIN reflects the high-grade nature of our Montalembert Gold Project located in Quebec’s prolific Abitibi greenstone belt.”
7. Deveron UAS (DVR, CSE) is staging an important fresh breakout…the company reported earlier this week that it completed over 500 commercial drone flights (incident free) in 2016, clearly establishing DVR as North America’s leading drone-based data provider to the agricultural industry…Deveron, which started operations in Ontario, has secured some important partnerships and is now expanding aggressively into Western Canada…it will be able to provide drone data solutions throughout the 2017 grow season to customers in Alberta, Saskatchewan and Manitoba – a potential market of 50 million acres…according to PwC, the commercial drone industry is reported to be $127 billion, with agriculture making up $32.4 billion…DVR is up 3 pennies at 33 cents as of 7:00 am Pacific for a market cap of only $5.6 million…
The 3 most popular recent BMR articles…
An Investor’s Guide To Who’s Who In The Greater Cobalt Camp
From Cobalt, Ontario: The Venture Week In Review And A Look Ahead
Doubleview Capital drills 412.75 m of 0.34% CuEq at Hat
2017-03-01 06:26 ET – News Release
Mr. Farshad Shirvani reports
DOUBLEVIEW EXTENDS THE LISLE ZONE BY 70M TO EAST AND 200M TO NORTH, WITH GOOD MINERALIZATION
Doubleview Capital Corp.’s drill holes H27 and H28 have further extended the main Lisle zone dimensions to 420 metres (1,377 feet) east-west and 520 m (1,700 feet) north-south. H27 intersected 412.75 m at 0.34 per cent copper equivalent, including 256.24 m at 0.42 per cent CuEq, and H28 intersected 106.85 m 0.36 per cent CuEq in a longer mineralized section of 302.5 m at 0.24 per cent CuEq (see table).
The November, 2016, drilling program comprised 2,020 metres of drilling in five holes. Partial analytical results were included in Doubleview’s Feb. 15, 2017, news release. The remaining results have now been checked and added to Doubleview’s technical information database. Drill holes H26 and H27 returned long intercepts of gold and copper values that were in line with those from earlier (2013 to 2015) drill holes. The majority of Doubleview’s drilling has been directed to the main Lisle zone and testing the northern continuation of the Lisle zone. The Lisle zone has the appearance of an alkalic porphyry-style deposit geologically similar to several important B.C. gold-copper alkalic porphyry deposits.
Geological review of the rock units and mineralization in the recent drill holes demonstrates probable continuity between drill holes H26, H27 and H28.
Drill hole H28 was directed northerly toward the E anomaly, a possible continuation of the Lisle zone that has been offset by an as-yet poorly defined fault structure. Several long intercepts of Lisle zone-type gold-copper mineralization were returned from both shallow and deeper parts of hole H28 and a strong, two-metre-wide fault zone was encountered at about 122 m depth. The 106.8 m intercept with 0.202 gram per tonne gold, 0.214 per cent copper (2,135.9 parts per million Cu) and 0.73 g/t silver (0.36 per cent CuEq) is from the underside of the fault and is believed to be very significant — it either extends the Lisle zone about 200 metres to the north or is at the edge of the E anomaly. Drilling ceased on Dec. 5, 2016, due to winter conditions and it was not possible to complete additional drilling to determine which of the possible interpretations is valid.
Drill hole H29 was directed to the western edge of anomaly F and did not return any significant gold or copper values. Drill hole H30, due to extreme winter conditions, was suspended before reaching the target area.
Doubleview intends to resume exploration of the Lisle zone when field conditions are suitable and also will investigate nearby areas with technically similar characteristics, including geological, geochemical, chargeability and magnetic responses.
DRILL HOLE DATA — 2016 DRILLING
Drill hole From (m) To (m) Length (m) Au (g/t) Cu (%) Ag (g/t) CuEq (%)
H027 7.57 417.30 412.75 0.20 0.20 0.47 0.34
including 7.57 36.56 28.99 0.53 0.34 1.64 0.72
including 7.57 263.81 256.24 0.24 0.24 0.58 0.42
including 112.08 263.81 151.73 0.30 0.31 0.43 0.52
including 175.02 263.81 88.79 0.46 0.47 0.50 0.79
including 175.02 401.70 226.68 0.26 0.26 0.38 0.44
including 221.58 234.32 12.74 1.33 1.37 1.15 2.30
and 411.32 442.45 31.13 0.06 0.10 0.30 0.15
H028 7.57 13.37 5.80 0.11 0.14 0.79 0.22
H028 124.90 427.40 302.50 0.11 0.16 0.80 0.24
including 320.55 427.40 106.85 0.20 0.21 0.73 0.36
including 124.90 133.90 9.00 0.22 0.87 5.10 1.07
including 154.90 208.90 54.00 0.11 0.16 0.68 0.24
including 172.28 202.90 30.62 0.15 0.18 0.70 0.29
including 320.55 391.12 70.57 0.23 0.24 0.87 0.41
* True widths are unknown.
Dimensions are reported in metric units. CuEq percentage is a variable calculation
using current prices: gold at $1,258/ounce, silver at $18.4/ounce and copper at
$2.70/pound and should not be relied upon in a valuation of the Hat deposit.
Cautionary note
Although, as reported, gold-copper mineralization has been found over large distances, Doubleview has not proven any resources and there is no assurance that further exploration of the Hat property will result in the identification of any potentially viable mineral deposits
A drill plan is located on the website of the company.
Farshad Shirvani, president and chief executive officer of Doubleview, is very encouraged by the results from the most recent drilling and is working with the company’s geological team in planning the next program of drilling. He commented that: “We are very excited to get on with our exploration of the Hat property. Work in the coming season, including drilling and, possibly, geophysics, will be critical to the future of the property and the company. One of our objectives will be to obtain sufficiently close-spaced drill hole data to enable estimation of our first resource.” Mr. Shirvani also noted that the 2016 program was conducted efficiently and safely with lowest ever per-metre costs.
Comment by Steve A. — March 1, 2017 @ 7:23 am
DGO REBOUNDED NICELY FROM 17.5 LOW! 26 NOW! KEEP AN EYE OUT FOR OTHERS IN THE AREA LIKE AMS. ONLY 23M O/S.
Comment by STEVEN1 — March 1, 2017 @ 7:42 am
DGO REBOUNDING! AMS IS IN THE AREA NOW TOO!
Comment by STEVEN1 — March 1, 2017 @ 7:43 am
Re DGO – do they get bought out or do they sell the property?? selling and getting money in for bonuses does not do a S/H any good…. just sayin!
Comment by Patricia — March 1, 2017 @ 7:51 am
Nice Copper # just delivered by EGM – 1.76% over 26.57 m. Resumes trading at 9 am Pacific after halt.
ENGOLD DRILLS 26.57 METERS GRADING 1.76 % COPPER, 0.27 G/T GOLD, 10.29 G/T SILVER AND 35.8% IRON IN DISCOVERY HOLE AT LAC LA HACHE SECOND DRILL BEING MOBILIZED TO SITE
Engold Mines Ltd.’s recently completed drill hole G16-01 targeting a gravity geophysical anomaly has encountered 1.76 per cent copper, 0.27 grams per tonne (g/t) gold, 10.29 g/t silver and 35.8 per cent iron over 26.57 metres in a previously undrilled area of its 100-per-cent-owned Lac La Hache property in the Cariboo region of British Columbia. Within this, a 14 m thick interval exceeds 2% copper. The skarn-type mineralization is located 1.8 km southeast of the existing copper-gold-silver-magnetite resource defined at the Spout Deposit.
EnGold is now mobilizing a second drill to the Property to focus on the 1 km X 1.4 km gravity geophysical anomaly. The first drill was moved to the Aurizon Gold target, where it is now drilling, as the Company was waiting for assays from the new zone and developing an exploration plan for the next phase of work to follow up on the new results. The Company may move both drills to the new zone, depending on a variety of factors as the program evolves.
“This discovery has significant size potential and marks a new and greatly accelerated phase of growth for EnGold,” said EnGold President & CEO David Brett. “We are fortunate to have the technical talent and infrastructure capacity to expand our operations rapidly.”
“Our modeling suggests the new zone is stratabound mineralization that is continuous with the Spout Deposits 1.8 km to the northwest, and that it extends further to the southeast than currently defined by the relatively sparse initial gravity test survey. The size of the geophysical anomaly is already impressive and will be expanded with additional surveying in early March,” said VP Exploration Rob Shives, P.Geo. “These results represent a truly text-book example where the combination of geophysical, geochemical and geological modeling supports accurate prediction of this new zone in a previously untested area, as indicated by this success in the very first drill hole.”
Vertical drill hole G16-01 intersected semi-massive magnetite-chalcopyrite (minor pyrite) skarn type mineralization over a true width exceeding 26 meters. The mineralization appears stratabound, occurring within sub-horizontal, skarned Nicola volcanoclastic rocks interpreted as the possible down-dip extension of Spout host rocks. The mineralogy and textures of the mineralized zone also appears very similar to Spout Deposit mineralization.
The hole targeted a large and strong, 1.0 milligal residual gravity anomaly defined in 2015 by a detailed ground gravity test survey conducted by Brian Jones, Excel Geophysics Inc. As previously reported (see News Release Feb 22, 2017) the amplitude and size of this anomaly significantly exceed the positive gravity responses observed over the Spout North and South Deposits. The new anomaly measures 1400 m east-west by 1000 m north-south at a contoured value of 0.5 milligal. Similar to the Spout Deposit, the new anomaly is flanked by induced polarization chargeability anomalies to north and south.
Assay results have been received (Table 1) and are reported below:
Table 1: Drill core assays, EnGold Mines Ltd, Gravity anomaly, Feb 28, 2017
DDH From (m) To(m) Interval (m) Cu (%) Au (g/t) Ag (g/t) Fe(%)
AZS16-01 337.30 363.87 26.57 1.76 0.27 10.29 35.8
including 343.00 357.00 14.00 2.09 0.27 12.34 36.4
Although insufficient data is available to precisely determine the true width of the mineralization, company geologists believe the 27 metre intercept is close to a true width.
Quality Control/Quality Assurance Program
EnGold Mines Ltd follows procedures which ensure sample security, chain of custody and Quality Assurance/Quality Control for all drilling and geochemical sampling, conforming to industry practices defined by Canadian Institute for Mining, Metallurgy (CIMM) standards, and required for TSX-listed companies by National Instrument 43-101.All core was logged and photographed. Sampled intervals were sawed in half, bagged, sealed and sent securely to ALS Canada Ltd for analyses. Half-gram samples were digested with aqua regia acid then analysed by inductively coupled plasma-atomic emission spectrometry (ICP-AES) for 35 elements (ME-ICP41). A 30 gram split is analyzed for gold by fire assay with a gravimetric finish (ME-GRA21). Copper values exceeding 1 percent were analyzed using aqua regia digestion with an ICP-AES finish (ME-OG46) to improve accuracy and precision at higher grades. As part of our comprehensive QA/QC program, one standard, one blank and one in-line replicate were inserted into the sample stream in each group of approximately 20 samples in each analytical batch.
About EnGold
EnGold is focused on finding and developing mining operations at its 100% owned mineral property located near the town of Lac La Hache in BC’s prolific Cariboo mining region. EnGold’s corporate philosophy rests on three interdependent pillars: Environment, Engagement and Gold. Through sound environmental stewardship, commitment to transparent engagement with local communities, the Company is dedicated to driving exceptional shareholder and stakeholder value by discovering and developing mineral resources.
About the Lac La Hache Property
The advanced stage property lies within BC’s Quesnel Trough mineral belt, which hosts several past and currently producing copper/gold/silver mines, including nearby Imperial Metals’ Mount Polley copper-gold mine and New Gold Inc.’s New Afton copper-gold mine. The Company has drilled numerous prospects on the property, including Spout copper-magnetite-gold-silver deposit (for which a resource calculation has been reported and supported by an NI43-101 Technical Report), the gold-rich Aurizon gold-copper-silver prospect and recent new discoveries with porphyry and skarn copper/gold potential. EnGold is currently focused on evaluation of its Aurizon Gold (gold-copper-sliver) prospect, where drilling continues to extend the host structure and gold-rich grades, and on the new copper-magnetite-gold-silver discovery. Supported by significant local infrastructure including powerlines, all season road access, rail and other amenities, the Lac La Hache project demonstrates excellent logistics for resource extraction.
Rob Shives P.Geo., VP Exploration and a Qualified Person as defined under National Instrument 43-101, has reviewed and approved the technical content of this release.
We seek Safe Harbor.
Comment by Jon - BMR — March 1, 2017 @ 8:13 am
GGI mentioned Alan King
Brief Bio : Alan received a B.Sc. in geology from the University of Toronto in 1976 and an M.Sc. in geophysics from Macquarie University in 1989.
From 1976 to 1984 he worked as a geophysicist in exploration and resource development in Canada and Australasia. In 1985 he joined GeoPhysiCon Co. Ltd. in Calgary Canada where he was involved in mining, geotechnical, oil sands and environmental applications for a variety of commodities. In 1990 he was employed by Inco Exploration and Technical Services Inc. as a senior geophysicist and in 1995 was promoted to Manager of Geophysics with responsibility for global exploration.
With the takeover of Inco by Vale in 2007 he moved to Brazil to assist with Vale’s geophysical work in Brazil and moved back Canada in 2011. From 2009 to 2012 Alan was Chief Geophysicist for Vale Global Exploration working on geophysical applications for base metals, iron, manganese, coal and fertilizers (potash and phosphate) as well as target generation using regional and global data sets.
His professional interests include the use of geophysics and new technology (and ideas) in exploration, mining, environmental, geotechnical and other applications.
Comment by GREGH — March 1, 2017 @ 9:05 am
I ran into Alan King and met him for the first time at Roundup at the end of January, Gregh. He is a rock star in the geophysics world, and for GGI to have him contributing to the understanding of the E&L should be viewed as a very bullish development. This is for real, big time! Understand that now or pay a much higher price later.
Comment by Jon - BMR — March 1, 2017 @ 10:06 am
Just keeps getting better and better, cheap cheap at this level compared to what it will be next week, back in the truck if you haven’t already.
Comment by Laddy — March 1, 2017 @ 10:16 am
Regarding GGI. Everybody keeps saying much, much higher. What would be a fair share price according to you Jon prior to drilling. And if they hit, trying to get a grip of what a fair share price could be
Comment by Kalkan — March 1, 2017 @ 12:08 pm
lots$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
Comment by bcguy — March 1, 2017 @ 4:37 pm
Kalkan, guess Jon is busy. .50 by drilling, if they hit big, the few on this board in it can find an island and purchase it for ourselves.
Comment by dave — March 1, 2017 @ 6:11 pm
I think .50 puts it around a 40 to 45 million market cap. But I can tell ya this much. What we have to date on ggi, it wont be where it is at now.
The fact that Alan King allowed his name to be exposed in this NR speaks out, and he will.
Comment by dave — March 1, 2017 @ 6:14 pm
Kalkan….treat GGI the same as you would any other company. Watch the charts and note the Measured FIB. Resis. levels as the company’s development progresses. It is all there in the charts.
Remember, “TA is a windsock, not a crystal ball”….a quote from Stockcharts…very appropriate don’t you think.
Comment by John - BMR — March 1, 2017 @ 6:42 pm