A potential rare earths sleeper in Quebec and a drilling miss in BC

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In his opening remarks of the May 31st edition of Discovery Watch, John Kaiser provides some background on the origins of the show and its objectives. Mr. Kaiser explains the show is not investment advice, but is designed to keep a spotlight on the junior resource industry in wake of the bear market that ensued in the group following the 2011 gold peak. In the second segment, he turns his attention to rare earths.

Although Mr. Kaiser reports that there were no juniors specializing in rare earths at the Metals Investor Forum last week in Vancouver, he notes that Quebec Precious Metals (CJC) has the non-core Kipawa project (68% owned) located in the Témiscamingue region of Quebec. The project, which does not have any drilling planned, contains some heavy rare earth showings. Currently, CJC is focusing on its core Sakami gold project located in the James Bay region.

Westhaven Ventures Shovelnose drilling map with Winter 2019 targets in red (click for larger)

In the next segment, Mr. Kaiser provides an update on the Westhaven Ventures (WHN) Shovelnose project located in Southern British Columbia. The company published results from 3 holes on May 16th. Mr. Kaiser reports that hole number 8 turned out to be a disappointment:

They never hit the vein they thought they were going to hit that was supposed to be offset to the Northeast by a fault that pushed the rocks in that direction, sideways. Instead there was this andesite, which had swallowed up the parallel zone two vein, a little further north, it was also present here. So, where that offset vein number one was suppose to be, there was rocks that do not host.

The company is back drilling in June heading south, hoping that the discovery continues along in that direction. Kaiser explains:

Their goal will be now to go down along strike, and this will be to some degree blind drilling...if they succeed in that, well then, we have all this running room to the south. They will also be going back and doing some infill to sort out and try and understand the mineralization controls better within the south zone itself. And, they will be looking at all these other resistivity low trends, mag-low trends... and seeing if there are other similar high-grade gold-silver system to be found through initial drilling during the summer.

Earlier in the broadcast towards the end of the first segment, Mr. Kaiser provides an update on Nevada Exploration (NGE). Click here to listen to the broadcast.

Disclosure: I hold Quebec Precious Metals.

 

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