Erik Wettering – The Hedgeless Horseman – Thu 15 Aug, 2019

Recapping a recent site visit to Cartier Resources and Osisko Mining

Erik Wetterling, Founder of the Hedgeless Horseman website joins me to recap a recent site visit he was on in Quebec to Cartier Resources’ Chimo Mine and Osisko Metal’s Windfall Lake Project.

If you have any follow up questions regarding either of the companies please email me and I will have management on the show to get those answered –

Click here to visit Erik’s website for some valuable free content.

Osisko Mining makes new gold discovery at Windfall Lake

Osisko Mining Inc. (OSK:TSX) has announced the discovery of a new gold-bearing zone at its Windfall Lake project located in the Abitibi greenstone belt of James Bay, Québec. The new zone is about 350 metres north of the main zone.

Four of the nine holes drilled at the new discovery contained visible gold. Notable drill results include 393 g/t gold over 2.2 metres, 31 g/t gold over 6.1 metres and 82.9 g/t gold over 2.3 metres.

The Windfall Lake project consists of 285 individual claims covering a total area of 12,467 hectares. The project hosts 2.38 million tonnes of indicated resources, according to a technical report published in May 2018.

In addition to Windfall Lake, Osisko has four other projects in Québec, including the nearby Urban Barry (1,997 claims) and Quévillon (4,211 claims). It is currently the largest stakeholder in the Urban Barry greenstone belt, holding over 40% of the land staked.

"Today’s results are very encouraging and reflect the continued assertion that Windfall is part of a larger, dynamic gold mineralized system. At this point, we await follow-up drilling to better understand orientation and grade continuity," analysts at Haywood Securities said. The investment firm also maintained its projection for Osisko's net asset value (NAV) of C$1.66 billion, or C$4.48 per share.

Shares of Osisko rose over 2% on Tuesday. The company's market capitalization now stands at about C$767 million.

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Osisko Mining owns the world’s best drill intersection of 2019

RSC Mining and Mineral Exploration Services compiles the best drill intersections around the world and then ranks them based on gold equivalent grams per tonne using ruling metal and mineral prices.

Year to date Osisko Mining's Windfall gold project in Quebec's Abitibi belt is the runaway winner with Global Atomic Corp's uranium project in Niger coming in second.

There are caveats. The Windfall grades are spectacular but over just two metres. Number 7 on the list, GGX Gold's project in southern BC called Gold Drop returned top class grades over 7.3 metres.

That helps to explain the difference in investor reaction – GGX shares opened 57% higher on the TSX Venture Exchange the day after the announcement while the effect on Osisko Mining's stock was a 4.9% drop in value (other market factors also play a role of course).

RSC also points out that in polymetallic deposits like the ASX-listed winner Adriatic Metals' Rupice exploration project in Bosnia not all the elements would necessarily be recovered and sold.

No wonder RSC cautions the companies mentioned not to use these tables in company presentations, websites or social media.

Nevertheless, the rankings which are updated each week, makes for some interesting comparisons.

Canadian companies are responsible for eight of the ten most significant drill intersections so far this year. Fair dinkum.

Nothing like a bit of friendly rivalry.

Osisko Mining owns the best drill intersection of 2019

Year to date significant drill results from RSC weekly bulletin 28 January – 3 February 2019.

Osisko Mining owns the best drill intersection of 2019

Year to date significant drill results from RSC weekly bulletin 28 January – 3 February 2019.

Click here for more and do read RSC's disclaimers and methodology.

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