Saturday 19th September 2020

Resource Clips

In Both Camps

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“So my intention is to have a play in precious metals and industrial metals as well,” Desmarais declares. Amseco‘s properties have already had airborne surveys, and graphite outcrops have been identified. Desmarais says a three-month exploration program will likely begin this month with another airborne survey, field work and shallow drilling.

But getting back to good old-fashioned gold, Amseco is the largest claimholder in the Barry Urban Mining Camp of Quebec’s geologically and infrastructurally rich Abitibi region. The company holds a 100% interest in 10,919 hectares and, as project operator, shares a 50/50 JV with Beaufield Resources TSXV:BFD in another 6,992 hectares. Others in the vicinity include Metanor Resources’ TSXV:MTO Barry Deposit and Eagle Hill’s TSXV:EAG Windfall Lake Property. This year’s drill results are pending for Amseco‘s JV and wholly-owned properties.

I think the next decade will belong to graphite. I don’t think it’s just a uranium or lithium play; I think it’s a long-term investment. So my intention is to have a play in precious metals and industrial metals as well —Jean Desmarais

Further north, in Quebec’s James Bay region, Amseco holds another gold property, the Chika Project. Situated 15 kilometres from the La Grande-3 hydro dam and three kilometres from LG-3 Airport, Chika excited interest last year when grab samples showed results up to 24.38 g/t gold. Plans for 2012 include further field work, geophysics and drilling.

The company’s Tisdale Project in Ontario’s Timmins Camp consists of a modest 57 hectares next door to Goldcorp’s TSX:G very immodest Dome Super Pit, once an integral part of the Porcupine operation which has been producing gold for over 100 years. Amseco considers Tisdale prospective for silver, copper and nickel, as well as gold.

Among Amseco‘s staff and advisers are geologists Jean-Pierre Cloutier, Roger Moar and Mack Watson. Cloutier’s background comprises over 40 years of exploration, including nearly two decades with Falconbridge, and he was closely involved in several key gold and base metals projects. Moar has been a consulting geologist since 1994, for companies such as Apella Resources TSXV:APA, Freewest Resources, Golden Tag Resources TSXV:GOG, Ecu Silver Mining and Manicouagan Minerals TSXV:MAM. Watson is credited with participation in several gold, copper and zinc discoveries in Ontario and Quebec. “Mack is a good friend, and we also have a whole team of experts on the ground,” Desmarais adds.

“With gold and graphite, we’re in two good areas, and we have good properties in each of them,” he points out. “We’re careful with our money, so our burn rate is very low. We have a very strong team of geologists onboard, and we’re going to start getting some IR exposure in the US. Our market cap is less than $4 million, so there’s lots of room up there. I think we’re probably the best growth stock you’ll see over the next few months.”

At press time, Amseco had 61 million shares trading at $0.05 for a market cap of $3.1 million.

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