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Dr. Neil Pendock And The Biotite Anomaly At Osino’s Karibib Project

Dr. Neil Pendock And The Biotite Anomaly At Osino’s Karibib Project

One of the benefits of having started writing my blog has been the increase in communication with my fellow industry colleagues – let’s call it an unintended consequence.  Some of these communications have shed more light on a particular topic I’ve discussed or in the case of today’s blog entry, the communication has shed some light on a particular company I follow.  With that lead-in, let me discuss an email I received from Dr. Neil Pendock of Cape Town, South Africa in regards to Osino Resources (TSXV – OSI) and its Karibib gold project in Namibia.

By way of introduction (and I hope I don’t bastardize his credentials), Neil is a PhD in Computational and Applied Mathematics and a highly regarded remote sensing expert.  Neil uses thermal imaging — looking at the temperature of the Earth’s surface (reflecting the heating properties of the rock below) – to figure out what sort of lithologies lurk at depth.

I first heard of Neil through Dave Forest, my good friend, frequent business partner, and editor of the International Speculator newsletter.  At Dave’s request, Neil did some work on Pan Orient’s East Jabung PSC in Indonesia where he identified areas in Sumatra that displayed the possible seepage of hydrocarbons.  Neil performed his remote sensing work without any knowledge of the company or project Dave was looking at.  After his work was completed, Dave juxtaposed Pan Orient’s East Jabung PSC over Neil’s findings and it was a near perfect match.  It was also the basis of my initial look at Pan Orient back in 2017.  You can see Dave’s initial write-up on Neil’s Sumatra work from OilPrice.com.

Dave and I have also used Neil’s satellite remote sensing capabilities to help identify gold anomalies buried under cover in Nevada (in the vicinity of producing or past producing mines).  In one particular case, Neil identified an anomaly that stuck out like a sore thumb.  Dave and I proceeded to run some soil sample lines over the area in question and we did indeed find elevated gold in the cover samples that perfectly matched the anomaly identified by Neil.  We incorporated a Canadian company, with a Nevada subsidiary, and proceeded to try and stake the anomalous ground only to find out we were out-staked by 2 days – you can’t make this stuff up.  As it turns out, a junior in the area had staked a bunch of land to consolidate its position ahead of being acquired by a mid-major precious metals producer.  To this day, Dave and I are almost certain the NYSE listed company doesn’t know the prospective gold anomaly it’s sitting on.

I’m being generous when I state that my technical knowledge of geology and mining is minimal at best – as they say, I know enough to be dangerous.  But my gut instincts are pretty good.  This summer, I had the pleasure of spending time with Neil when I traveled to Livingstone, Zambia for the SAIMM Copper Cobalt Conference.  And over the course of several meals and the sharing of lots of barely-drinkable wine, I came away convinced that remote sensing was a very inexpensive but under-appreciated and under-used exploration tool in geology.

All of the above prefacing to bring me back to Osino Resources and its Karibib gold project.  After my last Osino Resources blog post where I announced I had taken an initial position, Neil sent me an email with a blurb he posted on LinkedIn.   The must-read LinkedIn post describes how his remote sensing work has identified a biotite anomaly near-perfectly coincident with Osino’s Karibib gold trend – please see the biotite anomaly below.  It also seems to identify two smaller biotite anomalies to the NW and SE of the Karibib trend.  The moral of this story is that Neil’s work seems to suggest Osino might be onto something special at its Karibib gold trend in Namibia.  More early-stage geological work needs to be performed but eventually, drilling by Osino will tell the tale of whether it has the goods…..or not.  I’m looking forward to tracking my speculative punt in Osino Resources though to 2019.

 

Philip O'Neill
Philip O'Neill
poneill@mp1capital.com