BullMarketRun.ca

Gold has broken through resistance in the $1,250’s and is currently up $6 an ounce to $1,262 (as of 7:30 am Pacific time), very close to another all-time high…the CDNX is ahead 2 points to 1461…Seafield Resources (SFF, TSX-V) has taken off this morning on news the company has commenced a 3,500 metre drill program at its Miraflores Property in the Quinchia district of Colombia…Miraflores already has an inferred 43-101 resource of nearly 800,000 ounces…Seafield is up 3 cents to 22 cents on over 2 million shares, making it one of the most active stocks on the Venture Exchange so far today…this is likely only the beginning of this move for Seafield as our outlook for this stock over the summer is very bullish…the company launched a new web site Friday which for the first time has given investors a full understanding of the magnitude of its Quinchia Project…another 800,000 ounces (non-compliant) are estimated at the Dos Quebradas Property which has undergone only limited exploration…Seafield’s third property, Chuscal, also has blue sky potential…some small scale mining is currently taking place at Chuscal, similar to Miraflores, and “significant geochemical anomalies have been outlined at Chuscal over a large magnetic anomaly” – to the best of our knowledge these are new details on Chuscal provided Friday afternoon on Seafield’s web site (the company is currently finalizing the Chuscal option)…in total, Seafield has assembled a 67 square kilometre land package at Quinchia just south of Medoro Resources’ (MRS, TSX-V) 9.7 million ounce Marmato Deposit…what we see happening is Seafield defining a series of deposits that add up to a multi-million ounce package that ultimately gets taken out by Medoro…the individuals who assembled Medoro’s land package (Ian Park and Stewart Redwood) are working for Seafield and put together its landholdings at Quinchia…they are trying to nail down more property for Seafield as well…Gold Bullion Development (GBB, TSX) is off two pennies to 68 cents as investors continue to wait for news from the LONG Bars Zone…