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Osino Resources: DEEP DIVE
OVERVIEW

Osino Resources on the hunt to find Namibia’s next gold mine

Osino has amassed a large amount of ground in Central Namibia, amounting to some 6,000 sk km
A springbok with Namibian landscape behind
OVERVIEW: OSI The Big Picture
Osino is focused on exploration in Namibia
  • New company looking to find Namibia’s next significant gold deposit
  • Company's experienced founders want to emulate success of Auryx Gold Corp
  • Has quality assets and a good jurisdiction in Namibia’s highly prospective Damara gold belt
  • Shareholders have long term vision

What does Osino Resources do?

Osino Resources Corp (CVE:OSI) is a junior company focused on acquiring and developing gold projects in Namibia.

Its management has a history of delivering value and its CEO and president are also the co-founders of Auryx Gold, which successfully developed the Otjikoto gold deposit, which was sold to B2 Gold Corp in 2012 and which is now a 150,000 ounce per year producing mine, valued at an impressive US$750 million.

Heye Daun, chief executive at Osino and Alan Friedman, the president are hoping to do the same trick again with this latest venture and find the South African country's next significant gold mine.

Daun is a Namibia citizen and knows the country well, how it operates and has forged a number of important relationships.

He has a history of delivering value with successful exits, including being involved with Alteryx Inc (NYSE:AYX) being sold to B2Gold Corp (TSE:BTO) for C$180 million in 2012.

Add into the Osino mix experienced geologist Dave Underwood, the vice-president (VP) of Exploration with 26 years' experience and a CV which includes Newmont Mining Corp (NYSE:NEM) (TSX:NMC), AngloGold Ashanti Ltd (NYSE:AU) , De Beers, Anglo American PLC (LON:AAL), and Jon Andrew, also with two decades under the belt, and you have a potentially winning team.

The firm has a tightly held shareholder base with 70% of the shares already accounted for. On the list includes mining tycoon and major investor in the sector Ross Beaty, who holds 20%. The company’s own founders and associates own 14%. Resource Capital funds has 8%.

Large amount of ground

Osino has amassed a large amount of ground in Central Namibia - amounting to some 6,000 square kilometers.

Its licenses are grouped into three main baskets and 80% of its capital and effort is going into its core assets in one of the baskets, which lie between the producing Navachab and Otjikoto Gold mines, owned by QKR Namibia and B2 Gold respectively.

The main areas are the Karibib gold trend in central Namibia and where three targets are earmarked at the Goldkuppe project which the firm reckons could be a district-scale gold play and at the Twin Hills project, where drilling has excitingly extended the size of a gold anomaly.

"We are excited to have further confirmation of the growing size of the Karibib gold trend with its continuation under cover to the southwest of Twin Hills," said Dave Underwood, Osino’s vice-president of exploration in December.

Osino is planning a significant RC (reverse circulation) and diamond drill program for later in 2019, aimed at testing the expanded Twin Hills prospect and any additional targets generated along the Karibib Trend.

It is focusing efforts on developing the Karibib project and defining new exploration targets in the Otjikoto East area and on other licenses.

This year (2019) is set to be the year of raising more money and doing a lot more exploration, the company said.

In October, the firm said it had around $5 million in the bank and is expected to spend $1.5 million to $2 million between then and the end of 2018.

All about the assets

The Karibib gold project consists of six licenses, which span a total area of around 955 sq km and more than 50km of prospective strike extension of the Navachab Gold Mine, as well as the area from the historical Onguati Gold mine up to and including the Goldkuppe prospect.

Regional mapping and re-interpretation of aeromagnetic data has identified a large, previously unmapped, deep regional structure – now named the Khan River Fault.

The Goldkuppe project lies in the west-central part of Namibia, around 35km to the northwest of the capital city of Namibia, Windhoek.

It is an advanced project covering gold mineralisation within carbonate rocks belonging to the Karibib formation over an area of 3,400 x 700m in extent

Around 10,000m of drilling has been conducted by at least three previous operators and explorers in the area. Mineralisation is shallow and some significant high-grade (3 to 30g/t (grams per ton) gold) zones occur within the lower grade envelope.

The Otjikoto East exploration project consists of two large exploration licenses over a total of around 1,048 sq km in north-eastern Namibia.

These licences cover the eastern strike extension of the Otjikoto Gold mine geology over a length of around 80km.

Inflection points

A detailed ground magnetic survey was currently underway over the length of the Karibib Trend.

Planning a significant RC (reverse circulation) and diamond drill program for later in 2019, aimed at testing the expanded Twin Hills prospect and any additional targets generated along the Karibib Trend.

Assembling the jigsaw, says chief executive

Heye Daun summed up the firm's goal: "Our vision is to find Namibia's next significant gold deposit and we're putting together all the pieces of the puzzle to create a successful and significant gold exploration company that will find the next mine."

 

 

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