Source: Bill Newman 10/03/2022
Results of this program, expected to be done in November, could cause the company’s stock to react upward, noted a Research Capital Corp. report.
has a drill program in progress at its Wingdam paleoplacer mining project in British Columbia, reported Research Capital Corp. analyst Bill Newman in a September 30, 2022 research note. Completion is targeted for November, after which results are expected.
“We look forward to the assay results, which may provide a near-term catalyst for the stock,” Newman commented.
Research Capital has a Speculative Buy rating on Omineca.
Research Capital projects the Canadian mining company’s share price could eventually reach CA$0.75. This suggests significant return potential for investors from where Omineca’s stock is currently trading, at about CA$0.11 per share.
To date, at Wingdam, Newman pointed out, “very little systematic work” has been done to locate the source of the placer gold found beneath the Lighting Creek Valley. The current 2,800 meters (2,800m) drill program is a step toward remedying that.
Specifically, Omineca is testing the Skopos and Mary Creek targets.
At Skopos, the company already completed 1,400m of drilling in seven holes and has started the logging and sampling process. Skopos is about 900m south of the Wingdam underground placer project.
Next is Mary Creek, where Omineca intends to drill 1,400m in six to seven holes. Mary Creek is about 6 kilometers to the northwest of and on trend with the Wingdam mine.
Research Capital has a Speculative Buy rating on Omineca.
1) Doresa Banning wrote 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.
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.
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 Ltd. a company mentioned in this article.
Disclosures for Research Capital Corp., Omineca Mining and Metals Ltd., September 30, 2022
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