The latest findings are reviewed in an Echelon Wealth Partners report.
In a Dec. 16 research note, Echelon Wealth Partners analyst Ryan Walker reported that Osisko Mining Inc.'s (OSK:TSX) recent drill results showed the "Lynx zone growls." The Lynx deposit is part of Osisko's Windfall Lake gold project in Quebec.
Walker reviewed the new results, which are from one surface and six wedge holes at Lynx.
He highlighted that one of the wedge holes, OSK-W-19-1731-W2, returned the highest-grade metal factor (grade times length) ever encountered at Windfall. It showed 1,475 grams per ton (1,475 g/t) gold uncut over 4.6 meters (4.6m), from 882.7m downhole, including 8,030 g/t gold uncut over 0.7m from 886.3m downhole. Because the zone remains open downplunge, Osisko plans to drill more there.
(That particular hole is about 50m up-plunge of previously reported hole OSK-W-19-2069-W2 that showed 8m of 161 g/t gold.)
Walker provided numerous additional intercepts from this same batch of recent holes. Among them were 2.5m of 37.5 g/t and 1m at 237 g/t from OSK-W-19-1181-W12 and 2.5m of 22.3 g/t from OSK-W-19-2068-W3. Grades are uncut, and true widths are an estimated 55–80% of reported core intervals.
Results from previous recent bulk sampling in Lynx zone 311 showed "an impressive 89% positive grade bias with a 5,716 ton sample averaging 17.8 g/t Au," indicated Walker.
Considering the results from bulk sampling and drilling together, he wrote, "We contend that combined, the latest results demonstrate the potential for the application of a possibly too aggressive top cutting factor and for higher-grade blow-outs during any eventual production at Windfall."
Echelon has a Speculative Buy rating and a CA$3.80 per share target price on Osisko Mining. The company's current share price is about CA$3.59.
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Disclosures from Echelon Wealth Partners, Osisko Mining Inc, December 16, 2019
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.
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.
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