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Expanding Resource at Namibia Project 'Bodes Well for Updated Resource and Feasibility Study'
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An Echelon Capital Markets report noted that Osino Resources' latest drill results highlight the project's "substantial exploration potential."

In an Aug. 11 research note, Echelon Capital Markets analyst Ryan Walker reported Osino Resources Corp.'s (OSI:TSX.V) recent positive expansion and infill drill results from its Twin Hills project in Namibia.

"Today's results highlight the potential for continued resource growth at Twin Hills," Walker wrote.

The analyst presented and discussed the results of 30 holes drilled in three targets: Clouds East, Bulge and Twin Hills Central.

As for Clouds East, drilling extended the high-grade shoot to a depth of about 200 meters (200m). This occurred with hole OKD148, which returned 50m of 1.82 grams per tonne gold (1.82 g/t Au) from 196–246m downhole, including 16m of 3.16 g/t and 4m of 3.94 g/t. The better gold grades and width at depth indicate this shoot could add a material number of ounces to the existing resource.

At Bulge, drilling extended the consistent wide zone of mineralization down to about a 400m depth, where it remains open. This suggests the mining pit planned for Bulge could be deepened. Highlight assays from Bulge include 124m of 1.03g/t Au from 18–142m downhole (hole OKR181) and 169m of 0.89 g/t Au from 184–353m downhole, including 13m of 2.83 g/t Au, 18m of 1.54 g/t and 9m of 1.35 g/t (hole OKD149).

Regarding Twin Hills Center, drilling there "added ounces in areas of uncertainty," Walker noted. Returned intervals were mostly shallow and wide. For instance, hole OKR307 showed 83m of 1.1 g/t Au from 21–104m downhole, including 13m of 3.24 g/t and 8m of 2.1 g/t. Hole OKR319 returned 68m of 1.05 g/t Au from 76–144m downhole, including 15m of 2.08 g/t gold.

The key takeaway from these results, Walker pointed out, is that they suggest Twin Hills could support a bigger operation than that outlined in the recent preliminary economic assessment.  This "would help Twin Hills further stand out amongst 100,000/year development assets," he added.

As for what's next for Osino, Walker indicated, it will continue drilling at Twin Hills with 10 rigs, aiming to complete another 45,000m or so by year-end 2021. The next set of results, for 50 infill holes, is expected next month, in September. An updated resource estimate and a feasibility study could be completed by the end of H1/22.

Echelon has a Speculative Buy rating and a CA$2.20 per share target price on Osino Resources, the current share price of which is about CA$1.06.

"We continue to view Osino positively, owing to the project's solid economics and resource base, substantial exploration potential (highlighted by today's results) and large land package in an established (relatively lower cost) mining jurisdiction," Walker wrote.


1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
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Disclosures from Echelon Wealth Partners, Osino Resources Corp., August 11, 2021

I, Ryan Walker, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that I have not, am not, and will not receive, directly or indirectly, compensation in exchange for expressing the specific recommendations or views in this report.

Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost center and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.

Echelon Wealth Partners Inc. is a member of IIROC and CIPF. The documents on this website have been prepared for the viewer only as an example of strategy consistent with our recommendations; it is not an offer to buy or sell or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular investing strategy. Any opinions or recommendations expressed herein do not necessarily reflect those of Echelon Wealth Partners Inc. Echelon Wealth Partners Inc. cannot accept any trading instructions via e-mail as the timely receipt of e-mail messages, or their integrity over the Internet, cannot be guaranteed. Dividend yields change as stock prices change, and companies may change or cancel dividend payments in the future. All securities involve varying amounts of risk, and their values will fluctuate, and the fluctuation of foreign currency exchange rates will also impact your investment returns if measured in Canadian Dollars. Past performance does not guarantee future returns, investments may increase or decrease in value and you may lose money. Data from various sources were used in the preparation of these documents; the information is believed but in no way warranted to be reliable, accurate and appropriate. Echelon Wealth Partners Inc. employees may buy and sell shares of the companies that are recommended for their own accounts and for the accounts of other clients.

Echelon Wealth Partners compensates its Research Analysts from a variety of sources. The Research Department is a cost centre and is funded by the business activities of Echelon Wealth Partners including, Institutional Equity Sales and Trading, Retail Sales and Corporate and Investment Banking.

Important Disclosures:
Is this an issuer related or industry related publication? Issuer.

Does the Analyst or any member of the Analyst’s household have a financial interest in the securities of the subject issuer? No

The name of any partner, director, officer, employee or agent of the Dealer Member who is an officer, director or employee of the issuer, or who serves in any advisory capacity to the issuer. No

Does Echelon Wealth Partners Inc. or the Analyst have any actual material conflicts of interest with the issuer? No

Does Echelon Wealth Partners Inc. and/or one or more entities affiliated with Echelon Wealth Partners Inc. beneficially own common shares (or any other class of common equity securities) of this issuer which constitutes more than 1% of the presently issued and outstanding shares of the issuer? No

During the last 12 months, has Echelon Wealth Partners Inc. provided financial advice to and/or, either on its own or as a syndicate member, participated in a public offering, or private placement of securities of this issuer? Yes

During the last 12 months, has Echelon Wealth Partners Inc. received compensation for having provided investment banking or related services to this Issuer? Yes

Has the Analyst had an onsite visit with the Issuer within the last 12 months? No

Has the Analyst or any Partner, Director or Officer been compensated for travel expenses incurred as a result of an onsite visit with the Issuer within the last 12 months? No

Has the Analyst received any compensation from the subject company in the past 12 months? No

Is Echelon Wealth Partners Inc. a market maker in the issuer’s securities at the date of this report? No

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