R/€ = 14.80 Change: 0.15
R/$ = 12.56 Change: 0.13
Au 1294.10 $/oz Change: 11.76
Pt 909.50 $/oz Change: 30.55
 
 
R/€ = 14.80 Change: 0.15
R/$ = 12.56 Change: 0.13
Au 1294.10 $/oz Change: 11.76
Pt 909.50 $/oz Change: 30.55
 
 
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Osisko Mining unveils maiden resource estimate for Windfall Lake

15th May 2018 BY: Henry Lazenby
Creamer Media Deputy Editor: North America

VANCOUVER (miningweekly.com) – Mine developer Osisko Mining has published the first resource estimate for its fully-owned Windfall Lake project, in Quebec’s Abitibi greenstone belt, outlining about 2.8-million gold ounces in the inferred category above the 3 g/t cutoff.

Toronto-headquartered Osisko advised in a press release after market close on Monday that the resource estimate was the culmination of 1 453 drill holes for 596 733 m in the resource area, completed by previous operators on the project since 1997, and includes 812 new drill holes for 413 692 m completed by Osisko from October 2015, to March 5.

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Drilling continues at the Windfall gold deposit, and results disclosed by Osisko since March 5, representing 131 drill holes and about 40 000 m of infill and extension holes, mainly in the Lynx and Underdog zones, are not incorporated in this mineral resource estimate.

According to Osisko, Windfall now holds 2.38-million tonnes in the indicated category, grading on average 7.85 g/t gold for 601 000 oz of gold. The inferred category holds 10.6-million tonnes grading 6.7 g/t gold, for 2.28-million ounces of yellow metal.

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“Today's mineral resource estimate is a great start to defining the larger Windfall system, and it is complemented by our recently announced Osborne-Bell mineral resource estimate. Our plan is to incorporate Windfall gold deposit and Osborne-Bell into a single [preliminary economic assessment], scheduled for early in the third quarter of 2018, which will model a blended mining scenario with processing at a central Lebel-sur-Quévillon mill site,” president and CEO John Burzynski said in a statement.

The Windfall mineral resource estimate is distinct from the Osborne-Bell mineral resource estimate, which the company reported last month. The Osborne-Bell deposit is located on the Quévillon property, 17 km West of Lebel-sur-Quévillon, Quebec, and could potentially be mined and processed at the same proposed mill complex that would process Windfall ore. Osborne-Bell has a total inferred mineral resource estimate of 2.59-million tonnes grading 6.13 g/t gold, for 510 000 oz of gold, using a similar 3 g/t lower cutoff grade.

Burzynski noted that the Lynx and Underdog zones, in particular, have “excellent” down plunge potential for additional mineral resources. The company is continuing its 800 000 m drill programme to expand and explore the deposit. He pointed out that the infill drilling to convert inferred resource to indicated resource has produced higher average grades and is a focus of its ongoing programme. 

EDITED BY: Creamer Media Reporter
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