Resource World Magazine

68 www.resourceworld.com A U G U S T / S E P T E M B E R 2 0 1 9 Some junior explorers are also active in the Val d'Or Camp. Cartier Resources Inc. [ECR-TSXV] reports drill results grading 5.6 g/t gold over 8.5 metres, including 9.9 g/t gold over 3.0 metres and 8.3 g/t gold over 2.5 metres at its Chimo property. QMX Gold Corp. [QMX-TSXV] reported drilling results from its Bonnefond target located on the Val d'Or East Zone of its claims in Val d'Or. Drill hole 17315-19-080 returned 41.69 g/t gold over 4.3 metres, including, 114.48 g/t over 1.4 metres. Golden Valley Mines Ltd. [GZZ- TSXV] has shareholdings in a number of companies involved in exploring the Val d'Or Camp, including Abitibi Royalties Inc. [RZZ-TSXV; ATBYF- OTC], International Prospect Ventures Inc. [IZZ-TSXV; URANF- OTC], and Val-d'Or Mining Corp. [VZZ-TSXV]. There are others too numerous to mention. The old mining adage, now a cliché, that the best place to look for a gold mine is near one, is absolutely true. It is playing out every day in press releases from explorers targeting old gold camps. n EDITORIAL: continued from page 7 "trivial" and won't much help the ailing western Canadian drilling sector. He cited the federal government's Bills C-69 and C-48, designed to increase the regulatory sys- tem for resource projects and impose an oil tanker ban on the northern BC coast, as reasons for continued concern. CEPA wants construction to begin "as soon as possible" and steps taken to end government ownership, said spokeswoman Carla Minoque. "We are aware of the interest from Indigenous groups, including Project Reconciliation, which is welcomed by the industry. The ownership of the pipeline will be determined through a fair process and we look forward to seeing what happens." The Canadian Association of Petroleum Producers (CAPP) says the pipeline is criti - cal to meeting the increasing demand for oil and gas, forecast to account for about 53% of the world's energy demand by 2040. "The Trans Mountain expansion project is critical infrastructure that will diversify markets for Canadian oil, create a stronger energy future and expand economic benefits for all Canadians," said Brian McGuigan, CAPP's manager, Indigenous policy. The industry has a "longstanding and deep" relationship with Indigenous com - munities, both as business partners and neighbours to projects, he said, adding that in the oil sands, procurement from Indigenous-owned businesses has averaged $1.8 billion per year since 2013. "These relationships benefit Indigenous communities and help build a stronger Canada." n PIPELINE: continued from page 64 world – but only moderately so as nei- ther party has forthrightly confirmed strong support for our industry. n This material is taken from sources believed to be reliable and is provided for informa- tion only. Any investment decision should be made only after prior consultation with investment professionals. Leonard Melman is a financial and political writer who focuses on issues relating to the resource sector. Mr. Melman lives in Nanoose Bay, British Columbia, Canada and can be reached at lmelman@shaw.ca SPECULATIONS continued from page 20 AT THE MARKET continued from page 21 type of funding takes time. Here at Fieldhouse, we believe that respected management teams that can quickly raise funds to act on good drilling results and the race against seasonal weather con- ditions is critical. Therefore, the ability to fund a viable program through traditional private placements is invaluable, when time is of the essence. While these three basics above can seem simple in theory, they have helped us in our Fieldhouse Precious Metal Program. Since starting the program in December of 2015 with 42 companies, 10 have been taken over or a little more than 20% of the total. The companies included Newmarket, Primero, Richmont, Claude, Integra Gold, Klondex, Dalradian, Lakeshore, Aurico, and recently Atlantic Gold. Outside our precious metal program, others, including the mega mergers of Randgold/Barrick: Newmont/Goldcorp and, most recently, the cash infusion into Imperial Metals by Australian Newcrest all tell a story. While some people hate mining, the industry is here to stay as it provides the resources to power our new world. It is a vibrant industry that has been through chal - lenging times in the past eight years, but remains a vital part of our new economy of sustainability. As major mining companies replace depleting resources with immediate production, shed unwanted assets for mid-cap and others to develop, we will continue see great management teams find and develop properties, while raising the capital to advance them. It is up to the retail investor to identify these investment opportunities. n John Newell is a portfolio manager at Fieldhouse Capital Management. He has 38 years of experi- ence in the investment industry acting as an officer, director, portfolio manager and investment advisor with some of the largest investment firms in Canada. Newell is a specialist in precious metal equities and related commodities and is a registered portfolio manager in Canada (advising representative). 778-330-3008 John.Newell@fieldhousecap.com

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