ValGold Resources Ltd. (ValGold) is a long-established Canadian royalty and mineral exploration company which holds a net smelter royalty on the Garrison Gold Project in the Golden Highway Mining Camp near Timmins, Ontario. It also wholly owns the prospective Tower Mountain Gold Project near Thunder Bay, Ontario. Its other assets include exploration properties in Venezuela near the Kilometre 88 District and Brisas Cristinas Project.
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Osisko Mining Inc. (TSX:OSK) owns 100% and is the operator of the Garrison Gold Project. ValGold’s primary asset is a 2% net smelter royalty on a significant portion of the Project, including all the claims which were the subject of a NI 43-101 compliant resource estimate in 2014 (see the NI 43-1010 here.
Osisko Mining issued an important press release this morning updating its shareholders on exploration activities in Ontario which included progress on the Garrison Project. The complete release can be found on Osisko’s website at Osisko Mining and on Sedar under Osisko Mining.
Among the interesting news on the Garrison Project:
Osisko CEO, John Burzynski, commented that “drilling in 2017 was successful at significantly expanding the size of the 903 Zone”. Readers should note that ValGold’s Garrison Royalty covers only a portion of the 903 Zone. All Garrison zones and Osisko drilling can be seen on Osisko’s website; the most recent map is available here.
The Garrison Project is situated east of Timmins, Ontario, directly on the prolific Destor-Porcupine Fault Zone (DPFZ), host to numerous gold mines.
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