There appear to be some sudden, game-changing developments in northwest B.C.’s Sheslay district, given news within the last hour from Garibaldi Resources (GGI, TSX-V), which could ultimately make this a “summer to remember” in this prolific mineral camp.
Exactly what the junior resource market needs as the potential re-starting of drilling at Doubleview Capital’s (DBV, TSX-V) Hat Project, followed by first-ever drilling at the Grizzly, could lead to mass investor attention and more discoveries in this district that hosts a minimum 30-km long mineralized corridor.
Until this morning, there was nothing but silence from companies in this region following a controversial blockade at the Hat last month while Doubleview was in a zone of Gold-Copper porphyry mineralization at a depth of 270 m in HAT-25, a dramatic 1-km step-out northwest of the Lisle discovery zone.
Garibaldi is now immediately marching into the Grizzly with President and CEO Steve Regoci announcing this morning, as part of a broad update that was led by interesting news from Mexico, “Indeed this will be a busy and exciting summer at the Grizzly as productive discussions with all stakeholders concerning this emerging world class district are giving us great encouragement.”
The “Stakeholders”
“All stakeholders” is an interesting choice of words on Regoci’s part as he appears to be including a broad swath of possible groups – not only would this of course imply First Nations and government, but potentially all companies operating in the area and other important players as well.
Those stakeholders likely include AME BC (Association for Mineral Exploration British Columbia) which recently referred to the Sheslay district as B.C.’s “#1 greenfield project”, and possibly even some majors who are rumored to be looking at Doubleview’s Hat Project which has rapidly progressed from the grassroots stage just 2 years ago when the first-ever drill holes were completed at the property.
Crews are mobilizing at 2 areas on the Grizzly for a “fresh round of surface exploration that will determine final drill targets” – the vast Grizzly Central region, which many geologists are excited about given classic geochemical, geophysical and geological signatures that are similar to those that host growing deposits at adjoining properties, and the new Golden Bear claims where the company is following up on a high-grade Gold showing (over 150 g/t Au) discovered during the construction of the Golden Bear mine access road.
We’ll have more by Monday as we follow up on this morning’s news.
There’s no question, in our view, that the recent (2011) and historic Land Use Plan agreement, signed between the Taku River Tlingit First Nation and the provincial government, which covers the entire Hat Property, virtually all of Garibaldi’s Grizzly, plus other key properties in the area, makes the Sheslay district that much more valuable and “brings certainty to economic development” – the exact words spoken by Premier Christy Clark in this critical video put out by the provincial government in July 2011:
Premier Clark Heralding The Land Use Deal
Click on the link below to listen to a BMR exclusive story and audio interview with AME BC ‘s Glen Wonders (Vice-President, Technical & Government Affairs).
BMR Exclusive: AME BC Weighs In On Sheslay District
Note: John and Jon both hold share positions in GGI.
Well, it is certainly about time. Thank you for the update GGI. Now let’s get drilling Grizzly.
Comment by Andrew — August 14, 2015 @ 4:35 am
I second that, Andrew. This also bodes very well for DBV for a near-term return to the Hat. Something has obviously occurred.
Comment by Jon - BMR — August 14, 2015 @ 4:38 am
This is great news for you guys. Looks like all parties are on the same page (let’s hope).
Comment by chris — August 14, 2015 @ 4:56 am
Jon do you think GGI spoke with DBV before send the news of this morning.
I’m very exciting with this news !
Comment by Guy Delisle — August 14, 2015 @ 5:24 am
I’ve been watching GGI for a few years now and finally decided to roll the dice and pick up 10k shares. At this low price and them finally drilling the Grizzly, its hard not to take the gamble.
Comment by tony T — August 14, 2015 @ 5:28 am
Yes, I suspect so Guy. There obviously seems to be a high level of cooperation going on.
Comment by Jon - BMR — August 14, 2015 @ 5:35 am
Nice news on GGI, finally things happening.
Comment by dave — August 14, 2015 @ 5:47 am
Jon, GGI quickly got rid of the .05 and .055, then went back to .05 and now has 300+ on that ask, WHY is national Bank and Sprott for that matter dumping all their shares????
Comment by dave — August 14, 2015 @ 5:49 am
Are the big 3 (Prosper, Garibaldi, Doubleview) drilling or just GGI?
Comment by Concerned Citizen — August 14, 2015 @ 5:50 am
That’s just the balance of the flow-through from December, Dave. Very little of that left now, I would take it while it’s there. Sprott is completely gone, that has been Sedar-filed.
Comment by Jon - BMR — August 14, 2015 @ 5:50 am
I hear ya, but why not sell the flow through at a higher price?
Comment by dave — August 14, 2015 @ 5:53 am
Because they’re stupid, Dave. But they just ride the warrants.
Comment by Jon - BMR — August 14, 2015 @ 5:56 am
Well at least you admit their stupidity, but I’m in for 100k buy at .05 today
Comment by dave — August 14, 2015 @ 6:00 am
Jon, found this on the Tahltan Facebook site….. Summer 2105 Newsletter posted 11 hours ago. President Chad days message states the same story of protecting the area from mining. Do you think they have met with the BC government and come up with a MOU?
http://tahltan.org/wp-content/uploads/2015/08/TCG-IBEHI-NL-Final-For-Website.pdf
Comment by vepper — August 14, 2015 @ 6:01 am
“Indeed this will be a busy and exciting summer at the Grizzly as productive discussions with all stakeholders concerning this emerging world class district are giving us great encouragement.”
With this news, waiting for news soon from DBV and PGX ?
Comment by Guy Delisle — August 14, 2015 @ 6:05 am
Obviously something has occurred, vepper, and we’ll speculate with regard to that shortly. Keep in mind, their summer newsletter was probably a little dated in terms of when it was written. Keep in mind, this area is covered by a Land Use Agreement. It’s the law. Exploration and potential resource development are allowed by the law, plus these companies have their multi-year drilling and exploration permits. Chad Day’s game has been to use his “protecting the area from mining” story as leverage against the government and the companies, and as we know the Land Use Agreement is also under the Taku, who have a federal comprehensive claim over the district, while recognizing the Tahltan do have important interests in the area.
Comment by Jon - BMR — August 14, 2015 @ 6:07 am
Some serious noise coming, I suspect Guy, from DBV.
Comment by Jon - BMR — August 14, 2015 @ 6:08 am
We’re yet to hear from DBV, Concerned Citizen, but I’m sure we will soon enough. The rig apparently remains on the Hat. Rumors circulating about Prosper and a potential deal with a much larger company.
Comment by Jon - BMR — August 14, 2015 @ 6:10 am
Big bugs piling up on GGI now.
Comment by Dan — August 14, 2015 @ 6:12 am
Bids. Damn auto correct.
Comment by Dan — August 14, 2015 @ 6:12 am
The person who bought $15 of DBV shares yesterday is probably very anxious to hear positive news from the company. 🙂
Comment by Jeff — August 14, 2015 @ 6:14 am
Put more in EQT at .11
In GGI at .05
Comment by dave — August 14, 2015 @ 6:18 am
I might have got in EQT in a nick of time today. Credential is buying and the .11 bids building – Whew.
Comment by dave — August 14, 2015 @ 6:37 am
Dave I knew that so hence I bought yesterday. Just kidding.
Comment by Dan — August 14, 2015 @ 7:08 am
LOL Jeff I was thinking the same thing.. I expected DBV to bump up on this news. Hopefully soon.
Comment by Sam — August 14, 2015 @ 7:09 am
Full marks to the BMR team for yourexcellent factual based coverage of this sheslay situation. I have no doubt that your continued precise coverage has been used by all concerned parties in able to reach some sort of agreement. Now for the truth machine to do its part. Richard l
Comment by richard l — August 14, 2015 @ 7:13 am
Doubleview understood the message and quickly sent their workers home. They
also made verbal commitments to stop work this summer until the Tahltan Nation
and the Province are able to negotiate solutions for managing development in
Tahltan territory.
The first indication told me that DBV stop drilling for all summer, but now we can read ”stop work this summer until the Tahltan Nation
and the Province are able to negotiate solutions for managing development in
Tahltan territory”.
Come from the Tahltan document post by vepper
Comment by Guy Delisle — August 14, 2015 @ 7:27 am
Well, Guy, that’s not how events were described by Doubleview, and we’ve reported on all that. And we know that there has been a lot of misinformation that has come from Chad’s campaign on this. Two Land Use plans for the Sheslay district? Not likely. Can everyone find some common ground, and respect each other’s interests? Yes, that’s obviously seems to be happening. A critical point here though is that Land Use Plan. Exploration and potential resource development already approved through a multi-year negotiation that involved many stakeholders. The Tahltan decided to sit that out.
Comment by Jon - BMR — August 14, 2015 @ 7:38 am
My guess is GGI was to release news first and then DBV. That would confirm and light the fire for the upward momentum. Picked up more GGI this morning at 5 cents. Felt pretty lucky.
Comment by Dan — August 14, 2015 @ 8:02 am
I agree, Dan. I believe it’s also pretty clear GGI has already accumulated a lot of info from Grizzly Central and other areas. This could really help ignite the district if they put all their cards on the table shortly. So this morning may be just a warning shot for something much bigger to come, possibly.
Comment by Jon - BMR — August 14, 2015 @ 8:08 am
Picked up GGI too this morning. I have to run now but will be back shortly. I think GGI and EQT are going to be two in play here. I will share something when I get back. gotta run now
Comment by dave — August 14, 2015 @ 8:13 am
“fresh round of surface exploration that will determine final drill targets” Will these final drill targets be drilled this summer? or are they simply exploring to figure where to drill and tackle the drilling next year?
Thanks for your info.
Comment by tony T — August 14, 2015 @ 8:18 am
Highest volume day ever for GGI, very positive sign. Tony, they raised flow-through money in late December for the purposes of drilling the Grizzly this year, and that FT needs to be spent this year. I can certainly imagine a scenario of GGI and DBV drilling concurrently, and wouldn’t that generate some excitement.
Comment by Jon - BMR — August 14, 2015 @ 8:35 am
“Indeed this will be a busy and exciting summer at the Grizzly.
Tony Steve wrote this summer !
Comment by Guy Delisle — August 14, 2015 @ 8:40 am
10/4 boys. thanks for the info. Drill away ggi, drill away 🙂
Comment by tony T — August 14, 2015 @ 8:44 am
If GGI is to beginning drilling as soon as they have their targets you can bet your bottom dollar DBV will be drilling too. This will enable both companies to have quite a number of cores before the end of the year. What a sigh of relief. I’m also looking froward to BMR continuing their series of videos on the Sheslay districts.
Comment by Les — August 15, 2015 @ 7:25 am