The Gold Report - Sun, Jul 28, 2019

Discovery at Abitibi Project 'Indicative of Tier 1 Potential'

A description of this minerals firm's findings and their implication are provided in a Haywood report.


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.

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