Base metals hunting season resumes in James Bay and Maine
John Kaiser from Kaiser Research starts off his June 19th Discovery Watch broadcast with a colourful take on the current bidding war between Agnico Eagle Mines (Cloudy; AEM) and Osisko Mining (Mixed; OSK) spin-out O3 Mining for Alexandria Minerals (AZX). The prize is Alexandria's Cadillac Break Properties located in Val d'Or Quebec, and Kaiser wouldn't be surprised to see another bidder surface before all is said and done. In the second section of the broadcast, John Kaiser reports that Midland Exploration (Cloudy; MD) has started its summer 2019 exploration campaign in search of copper on its Mythril project in the James Bay area of Quebec.
The program includes a minimum of 5,000 metres of diamond drilling (2 rigs), mechanical trenching and channelling, prospecting, soil geochemistry and geological mapping.
They are marching from the western end [of the project]. The initial focus will be on the original target area where they do have holes into it. They are putting more holes in to try and see the down dip extension and also better understand what that's all about.
Kaiser is particularly interested in holes D, K, L and Q which are blind and have the potential to deliver a discovery surprise. Kaiser also notes that they are testing some isolated electromagnetic anomalies off the main trend (hole M).
Kaiser wraps up the broadcast revisiting Ron Little's Wolfden Resources (WLF) which he discussed on April 4th following a strategic investment by Kinross (Mixed; K) The company has started its 2019 10,000 metre drill program on its polymetallic Pickett Mountain Project, located in northeastern Maine. Kaiser believes that Maine is now better suited for mining activity following a revision to its mining legislation. Kaiser explains there are three components of the new program:
One, it will continue to probe the limits of the west and east lens. Two, it will use wedge drilling to further explore the Footwall Zone to see if this is indeed a similar volume of mineralization as the east and west lens, and...testing other targets, geophysical targets, to the north.
Kaiser suggests that in contrast to Midland, Wolfen already has sufficient resources to support a modest mining operation. However, Mr. Kaiser suggests that Wolfden is aiming for something much bigger. Click here to listen to the full interview.
This post first appeared on INKResearch.com.