Wednesday, August 01, 2012

Courtesy Update – Got Gold Report Available to Entire GGR Blog Readership

Update 1:  Adds embedded video and brief comments about the Fed and ECB. 

Northern Tiger into very high grade gold shows at Sleeping Giant, Yukon. 

The latest Got Gold Report video update, released to paying GGR Subscribers on Sunday, July 29, is now available to the public via YouTube after a delay.  To view the 15-minute video, which takes a look at the positioning of very large traders of gold futures on the COMEX, simply follow this link:

http://www.youtube.com/watch?v=FV3eZpSPQJ4&feature=plcp

Northern Tiger Sampling High Grade Gold at Sleeping Giant

On another note, on July 31 Northern Tiger Resources (TSX:NTR.V) reported some very high grade gold shows from chip samples taken along a trench in the area called the Sleeping Giant zone of their 3-Ace project in the Yukon. 


“Eleven continuous one metre chip samples taken along the strike of a new quartz vein exposure in the Sleeping Giant Zone returned from 0.06 to 226.68 g/t gold, with a weighted average of 50.3 g/t gold. Results are pending from both channel samples and seven recent drill holes testing the new discovery,” the company press release said

More...

Those are some impressive grades and we note that the company has done “an extensive set of channel sampling” as a follow up.  Channel sampling, which actually saw cuts the rock instead of using a hammer to knock pieces off into a bag, is considered a more reliable sampling technique.  Evidently the company felt the new discovery was important enough to go to that step.  Suffice it to say that things are “hotting up” at  Sleeping Giant.

We hear from sources close to the action that NTR now believes that their drill program at Sleeping Giant from a couple years ago, which cut gold, but less than hoped for at the time, may have undercut the “good stuff.”  That’s because the team now believes that the deposit is more flatly lying than previously thought and perhaps wider than they thought.

We should know something fairly soon about that as the new high grade showings at Sleeping Giant prompted the crews to redirect the drill from the Main Zone to Sleeping Giant.  A number of holes have already been drilled with assays pending.     

We understand that CEO Greg Hayes and the NTR geos are staying there in camp at 3-Ace and Sleeping Giant as the drill is turning.  They plan to host “some tours” of the new work there over the next few weeks.  So expect more news from NTR and possibly some informed commentary from others before too long.  

20120801-NTR-photo-Sleeping-giant
 
Northern Tiger investigates new high grade sampling at the Sleeping Giant zone trench, Yukon Territory, Canada. 

Sleeping Giant trench map. 
http://www.northern-tiger.com/i/pdf/Sleeping-Giant-Trench-Map.pdf

Hayes has been a big buyer of his own shares since about the first of December, buying at least two million of them, according to Ink Research (CanadianInsider.com). 

Recent trading on a short-term 1-hour volume candle chart.

20120801-NTR-volume-candle

We here at Got Gold Report are pulling for Greg and his team as they work this exciting high grade discovery.  The market has been especially harsh to gold explorers in general and Yukon explorers in particular over the past 15 months.  That has shares of NTR.V (NTGSF in the U.S.)  trading at about one-fifth of where they were about a year ago, when sentiment was still more or less “good” for the quality Yukon exploration companies.

With visible gold shows, new high grade sampling of vein outcrops and trenches, drills turning, some big scale insider buying,  and new thinking about how the deposit is laid down, NTR shareholders finally have at least a little “smoke” to go on, well, quite a bit of smoke acutally, but whether all that leads to something of size and therefore gold “fire” to go with that smoke, is up to the Drill Gods at the moment.

It is good to hear and see some good news coming in for Northern Tiger, though. 

 

Full disclosure, a number of us own shares in the company here at Got Gold Report.

Gene Arensberg for Got Gold Report   

Update 1: 

Edit:  August 2 at 14:00.  The July 29 video update is embedded below with a few brief comments:

 

The market seems disappointed by what Mr. Draghi actually delivered on Thursday, August 2.  Equities, gold and silver are selling down following no overt discussion of QE by the Fed and not even a rate cut from the ECB.  Yet. 

20120802-gold-silver

Mr. Draghi delivered a plan for a plan "sandwich" again instead of an unlimited monetary "T-bone steak" and short term gold and silver are under pressure.  But does any0ne actually believe that the global central bank money printing  episode is even close to being over anytime soon? 

No?  We don't either.  That is all for now. 


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The Original
Vulture Speculator

Trading gold, silver and mining shares since 1980 with a focus on taking advantage of volatility extremes, Gene Arensberg analyses the markets through a basket of technical and fundamental indicators and shares his findings from time to time here at Got Gold Report. Mr. Arensberg has been quoted in the Wall Street Journal, Dow Jones MarketWatch, USA Today and dozens of other news organizations.

"I've been a huge fan of Gene and his amazing work for years..."

Brien Lundin, CEO, Jefferson Financial, Host of the annual New Orleans Investment Conference and Publisher of Gold Newsletter


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