BullMarketRun.ca

Gold is taking a slight breather today after marching to a new all-time high Friday…Gold is essentially unchanged at $1,255.90 as of 7:50 am Pacific time…the CDNX is up 7 points to 1495…the Venture is clearly in a new uptrend and the first major area of resistance is 1560, right around the 50 and 100-day moving averages…if the CDNX is able to clear that hurdle, look out…we expect a powerful week for Gold Bullion Development (GBB, TSX-V) as the market begins to anticipate the first results from Phase 2 drilling at the Granada Gold Property…as outlined in our Week In Review And A Look Ahead yesterday, GBB’s Phase 2 results in theory and in general should even be better than Phase 1 as GENIVAR learned so much from that first 2,800 metres of shallow drilling in December and January…given the impressive Aukeko and Austin-Rouyn showings and historical workings to the east (approximately 2.2 and 3.5 kilometres respectively), and the favorable geology that runs right out to those areas on strike from GR-10-17, the LONG Bars Zone has become a massive target that clearly has the potential to host far more than the 2.4 to 2.6 million ounces already projected (non-43-101 compliant) within just the Preliminary Block Model…there are few opportunities like this, as we see it, in the market today…location is also a key aspect of this play as Granada is surrounded by all the necessary infrastructure for a giant open-pit operation…it’s also in a politically safe and favorable jurisdiction (ranked #1 in the world) for mining and exploration – Quebec…Gold Bullion is down a penny at 56 cents as of 7:45 am…Fire River Gold (FAU, TSX-V) is up 4 cents to 64 cents…the company is developing its Nixon Fork gold mine project in Alaska and came out with another impressive re-assayed historical hole this morning (498 g/t Au over 3 metres)…Fire River is starting a large drill program at Nixon Fork by month-end…in this strengthening market with higher gold prices, this stock should do very well…we’re keeping an eye on Seafield Resources (SFF, TSX-V) which should be releasing news soon on its Quinchia gold properties in Colombia…Seafield has dropped in half from where it was in late February and has done nothing over the last three months which partly explains our increasing bullishness on this stock…we believe a major turnaround in SFF is imminent…the stock is in a range of 16.5 to 18 cents in light early trading…