In a July 23 research note, Haywood analyst Mick Carew reported that Osisko Mining Inc. (OSK:TSX) hit upon what it is calling Triple Lynx, four zones of gold mineralization between the Triple 8 discovery and the main Lynx corridor at its Windfall Lake project.
Carew depicted Osisko's discovery. The new zones, he wrote, occur in a mineralized corridor at a depth of 650–980 meters (650–980m) below the main Lynx deposit. They continue downplunge beyond the scope of current drilling at the project.
Highlight drill hole OSK-W-17-1272 returned 12.1m grading 47.8 grams per ton (47.8 g/t) gold from a downhole depth of 858.4m, including 6.7m grading 63.5 g/t gold.
The gold mineralization encountered at Triple Lynx is characteristically similar to that of the upper Lynx deposit, according to Osisko. Both Triple 8 and Triple Lynx, which remain open in all directions, require further drilling to determine the relationship, if any, between them.
Osisko, Carew relayed, after hitting these new zones of mineralization, decided to add another 200,000m to its drill program at Windfall, taking it to 1,000,000m.
Carew concluded that "today's results provide further support of our assumptions on the expansion potential of Windfall at depth. We await the results from further drilling."
Haywood has a Buy rating and a CA$4.50 per share target price on Osisko Mining, whose stock is currently trading at around CA$3.67 per share.[NLINSERT]
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Disclosures from Haywood Securities, Osisko Mining Inc., Radar Flash, July 23, 2019
Analyst Certification: I, Mick Carew, hereby certify that the views expressed in this report (which includes the rating assigned to the issuer’s shares as well as the analytical substance and tone of the report) accurately reflect my/our personal views about the subject securities and the issuer. No part of my/our compensation was, is, or will be directly or indirectly related to the specific recommendations.
Of the companies included in the report the following Important Disclosures apply:
▪The Analyst(s) preparing this report (or a member of the Analysts' households) have a financial interest in Marathon Gold Corp. (MOZ-T), Pure Gold Mining Inc. (PGM-V).
▪ As of the end of the month immediately preceding this publication either Haywood Securities, Inc., one of its subsidiaries, its officers or directors beneficially owned 1% or more of Pure Gold Mining Inc. (PGM-V).
▪ Haywood Securities, Inc. has reviewed lead projects of Osisko Mining Corp. (OSK-T), Marathon Gold Corp. (MOZ-T), Pure Gold Mining Inc. (PGM-V), Treasury Metals Inc. (TML-T) and a portion of the expenses for this travel have been reimbursed by the issuer.
▪ Haywood Securities Inc. or an Affiliate has managed or co-managed or participated as selling group in a public offering of securities for Osisko Mining Corp. (OSK-T), Pure Gold Mining Inc. (PGM-V), in the past 12 months.
Other material conflict of interest of the research analyst of which the research analyst or Haywood Securities Inc. knows or has reason to know at the time of publication or at the time of public appearance: n/a.
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