News

Resource Firm Advances Placer, Hard-Rock Gold Projects in Canada

May 5, 2021 (Investorideas.com Newswire) A Research Capital Corporation report notes that Omineca Mining and Metals’ work at its Wingdam hard rock property “has helped to better define [its] existing targets, and has expanded the company’s inventory of exploration prospects.”

image

In an April 29 research note, Research Capital Corporation analyst Bill Newman reported on Omineca Mining and Metals Ltd.’s (OMM:TSX.V; OMMSF:OTCMKTS) operational update on Wingdam.

“Operations on both the Wingdam hard rock drilling and placer gold projects are proceeding, however, at a slower pace than originally anticipated,” Newman wrote. “New environmental regulations established since the initial 2012 bulk sample created some delays, which have been addressed by OMM.” Delays are also due to a backlog at the assaying laboratory.

As for Omineca’s placer gold bulk sampling, Newman relayed, the company achieved the desired water level for dewatering and is now working on underground rehabilitation.

Regarding the Canadian resource company’s hard-rock project, Newman noted, Omineca recently completed a triaxial magnetic gradiometer survey over 209 square kilometers of the Wingdam property, or about 40% of the hard-rock permitted area. The surveyed expanse included a 25-kilometer, northwest-southeast (NW-SE) trending zone about 8 kilometers northwest of the 2012 bulk sample site.

The survey “identified several more NW striking fault features that appear to intersect [northeast] trending faults,” Newman wrote. The work “has helped to better define [Omineca’s] existing targets, and has expanded the company’s inventory of exploration prospects.”

In other news, Newman noted, the British Columbia government allowed Omineca to expand its Wingdam drill permit to include 60 drill pads, and to extend it over five years.

As for drilling, the most recent update, in February, indicated that the company completed 13 holes of its 27-hole, 8,000-meter campaign started last fall, Newman noted. Results are still pending. Once they become available and Omineca analyzes them, it plans to then commence a second Wingdam drill program.

Research Capital has a Speculative Buy rating and a CA$0.75 per share target price on Omineca, the stock of which is trading at about CA$0.185 per share.

Disclosure:

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.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Omineca Mining and Metals. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Omineca Mining and Metals, a company mentioned in this article.

Disclosures from Mackie Research, Omineca Mining and Metals Ltd., Operation Update, April 29, 2021

RELEVANT DISCLOSURES APPLICABLE TO COMPANIES UNDER COVERAGE

1. This Issuer has generated investment banking revenue for MRCC.

2. Relevant disclosures required under IIROC Rule 3400 applicable to companies under coverage discussed in this research report are available on our web site at www.mackieresearch.com.

ANALYST CERTIFICATION

Each analyst of Mackie Research Capital Corporation whose name appears in this report hereby certifies that (i) the recommendations and opinions expressed in this research report accurately reflect the analyst’s personal views and (ii) no part of the research analyst’s compensation was or will be directly or indirectly related to the specific conclusions or recommendations expressed in this research report.

Mackie Research Capital Corporation, its directors, officers and other employees may, from time to time, have positions in the securities mentioned herein.

More Info:

Investorideas.com Newswire

This news is published on the Investorideas.com Newswire – a global digital news source for investors and business leaders

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Gold Mining Stocks - Gold Mining Stocks Directory, Gold Stocks News, Research and Resources

Gold-MiningStocks.com – investing ideas in gold and mining stocks

Like Gold Stocks? View our Gold / Mining Stocks Directory

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

Leave a reply

Your email address will not be published. Required fields are marked *

More in:News

News

Bonds Didn’t Disappoint

December 3, 2021 (Investorideas.com Newswire) S&P 500 sharply rebounded, and signs are it has legs. ...
Next Article:

0 %