TSX Venture Exchange & Commodity/Currency Updates
Key immediate situations to focus on as a discovery-driven new phase of the Venture bull market fast approaches…
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RE GGI
Did the Q anomaly merge with the D zone… or there is another story?
Thanks
Comment by nb.jay — August 19, 2017 @ 12:06 pm
Thx for this guys.. still nervous tho:) mainly because I am impatient and cant afford for this ‘bull’ market to be wrong:)
Comment by Jeremy — August 19, 2017 @ 12:17 pm
nb.day, no, the Q anomaly has not merged with Anomaly “D”…it’s a separate target immediately to the south and at a lower elevation with a large geophysical signature…needs to be investigated much more, just like the newly-discovered anomalies northeast of the E&L…given the accumulation of evidence, the balance of probabilities is that the historic E&L deposit was not an isolated event…the wide distribution of magnetic anomalies and conductors concurrent with powerful geological information covering a broad area tells us this is very fertile ground for new discoveries…
Comment by Jon - BMR — August 19, 2017 @ 12:35 pm
I hate weekends no trading
Comment by bc guy — August 19, 2017 @ 2:03 pm
HiJon
Appreciate all your efforts. How effective is the VTEM? It didn’t show the 1960s drilling area which had good mineral levels.I assume it showed up things at EQT that turned out to be a bust.
Comment by PaulH — August 19, 2017 @ 3:00 pm
Hello guys….is it possible to post an updated chart of CCC.V in the comming days….I would appreciate it if you can.
Thank you and have a nice week end!
Comment by Sylvain — August 19, 2017 @ 4:50 pm
bc guy, I agree. That sadness on fridays after the market closes…
Comment by Charles — August 19, 2017 @ 7:08 pm
GGI
how deep is the conductor at Anomaly A? We know it starts at 140 M at Anomaly D. Does it start at the surface at anomaly A or it is deep too ? ( I am assuming at surface since they found the massive sulfide at surface)
Comment by George — August 20, 2017 @ 6:20 am
PaulH – good point… what did EQT do to suck some of us into there web?? research to be done
Comment by Jeremy — August 20, 2017 @ 6:50 am
George, GGI hasn’t provided all the details yet on conductor “A”, but I believe it’s safe to assume it’s similar to anomaly “D” in the sense that it’s strong and broad and has depth extension. That structure plunges, like E&L, as you can see on Google Earth. Mineralization was discovered at surface around the periphery of that conductor. The “hot zone” is about to be tested. It’ll be important to learn about the make-up of the rocks – we should hopefully hear from them soon with regard to that. A lot of geos and geophysicists are buzzing about this area, so it’s going to be fascinating to see how it plays out.
Keep in mind, these conductors (A-B-C-D) are not the only conductors GGI’s VTEM Survey identified. They are what’s described as the “highest priority”. It’s quite possible there could be many, like perhaps 2 dozen or more, but a group of conservative geophysicists have likely been very discriminating in highlighting only what they can all agree on as the best of the best. Not all conductors of course will deliver, so it makes sense that they’ve narrowed things down very carefully.
The paragraph in quotes is what GGI reported July 18 with regard to anomaly “D”:
“Garibaldi’s drilling will cut across the known mineralized zones to verify the above historical numbers and test for precious metal and cobalt content, while also continuing beyond a 122-metre depth into Anomaly D to potentially greatly expand the historical deposit. The conductor measures at least 260 metres long, and its potential depth extent has not been delimited in any way. Downhole large-loop electromagnetic geophysics will be employed during the drill program.”
The E&L features a disseminated “halo” of mineralization, with very high tenor of the sulphide, in the top 122 m as outlined by Silver Standard’s 12 historical holes drilled from surface in the 1960’s. The conductor begins at 140 m. It’s a well-known model in nickel sulphide systems to have a disseminated halo such as this, with massive sulphides accumulating at the bottom.
Comment by Jon - BMR — August 20, 2017 @ 6:53 am
PaulH – good point… what did EQT do to suck some of us into there web?? research to be done
https://www.fscwire.com/newsrelease/equitas-resources-corp-appoints-new-directors-and-changes-name-altamira-gold-corp
Comment by Jeremy — August 20, 2017 @ 6:54 am
Thx Jon, always precise
But I was asking about anomaly A conductor, do we know at what depth it starts?
Linking the findings at the surface of anomaly A to the conductor at 140 Deep of anomaly D makes me conclude that the conductor at anomaly A starts at its surface
Comment by George — August 20, 2017 @ 7:11 am
Sorry, George, misread “A” for “D” in your question, but have adjusted my answer accordingly.
Comment by Jon - BMR — August 20, 2017 @ 7:18 am
Then Jon the only real challenge would be if this conductor D is caused by massive sulfide. If yes then due to the high tenor we have definitly high grades. Right?
Comment by George — August 20, 2017 @ 7:18 am
Correct, George. Science tells us what the grade range would be in sulphides – very high given the known tenor of 4.8% to 8% Nickel and 2.1% to 10.9% Copper in 100% sulphide. The tenor, of course, is the metal component of the sulphide, and it was measured last year and speaks to the quality of the mineralization (comparable to some world class deposits/mines). Even in disseminated sulphides, you can have exceptionally high grades with that kind of tenor. So it all comes down to what the conductor represents. That’s where balance of probabilities comes into play. The evidence weighs in favor of massive sulphides, particularly after the VTEM Survey data led to a surface discovery of widespread sulphide mineralization at anomaly “A”. Graphite is increasingly being ruled out as the conductor source at anomaly “D” (not common in the district either).
Comment by Jon - BMR — August 20, 2017 @ 7:35 am
Jon, it sounds like the “Sunday Sizzler” will have lots of “sizzle” to it tonite. Bring on Monday!
Comment by pole — August 20, 2017 @ 8:08 am
Lightfoot video available today. Interesting
Comment by david — August 20, 2017 @ 12:28 pm
Hi Jon and john, can you please enlighten me on why Cxo market cap is only 37 million and Ggi is over 50 million…… I think Ggi is way ahead of it self or Cxo is by far a screaming buy??
Thanks
Comment by Greg — August 20, 2017 @ 3:58 pm
It Was opposite last year Greg
Comment by Weatheritout80 — August 20, 2017 @ 5:12 pm
Greg, you’re comparing apples and oranges when it comes to GGI and CXO.
First off, GGI’s success is CXO’s success, and vice-versa. Every investor with a position in a company or companies in this district should be rooting for every single company to succeed – no one’s market cap can be high enough. All these juniors in the Eskay Camp, plus of course Pretium and Seabridge, are part of a single brand. One company makes a big discovery, it makes the brand that much better and everyone benefits. The reverse is also true – one company stumbles and it can hurt everybody.
I would strongly disagree that GGI has gotten “way ahead of itself”. The situation at Nickel Mountain is truly extraordinary – every piece of evidence is pointing to the strong possibility of a very high-grade Nickel-Copper sulphide deposit that will probably not take more than 2 drill holes to confirm, and the drill starts turning imminently. Such a rare discovery in the heart of a high-grade Gold and Cu-Au porphyry camp would be a major game-changer for not only the Camp but the entire junior resource sector IMHO.
Right now for GGI it comes down to one thing – does that conductor at anomaly “D” represent massive sulphides? We believe it does and so do many geologists, because all the other potential explanations for that conductor (graphite, SPM, etc.) are being scientifically ruled out. If it is sulphides, we know the grades are going to be very high – a world class grade range – given the known tenor of the sulphide.
No company in this district right now, other than Garibaldi, has such a bull’s-eye, near-surface target (massive sulphides) directly below an historic mineralized zone that could produce a major new discovery on just 1 or 2 drill holes. That’s why GGI is commanding the highest market cap of all juniors in this Camp right now, and that should come as no surprise as we said months ago that GGI was our #1 pick for the area. Now, in addition to the E&L, this is also a company with a diversified portfolio of outstanding projects (12 or 13 in total) in B.C. and Mexico. The leverage created by the E&L should allow GGI to also hit big on at least 1 or 2 other properties. Mexico will be cranked up big-time again.
As far as CXO is concerned, I agree its market cap should be higher. They have different types of targets in the Camp compared to GGI, and hopefully this summer KSP can deliver the glory hole it has the great potential to deliver. Nevada plus the assets in the Red Chris district are also a big plus. The company is stronger in every way this summer than last summer, and Goldcorp is a major new investor, yet the valuation is not what it should be. On the marketing/branding side there is room for improvement. But I suspect that a little more patience with CXO will pay off big-time. Superb technical team and terrific ground.
Comment by Jon - BMR — August 20, 2017 @ 9:32 pm
Thanks for that detailed explanation Jon
Comment by Greg — August 20, 2017 @ 9:57 pm