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Osisko Mining Inc.
Summary
| Project: | Quevillon | |
|---|---|---|
| Deposit: | Osborne-Bell | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 3/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 15-3-2018: Osisko Mining Inc. announces a Resource Estimation report for its Osborne-Bell deposit at the Quevillon project. Updated mineral resource estimate for the deposit. (Toronto, March 15, 2018). Osisko Mining Inc. (OSK:TSX, "Osisko" or the "Corpora | |
| Resources: | (Resource, Inf.): 2.587Mt @ 6.13g/t Au for 510Koz Au contained at deposit | |
| CP/QP: | [Resources]: Pierre-Luc Richard (InnovExplo Inc.) | |
| ABSTRACT: | (Toronto, March 15, 2018). Osisko Mining Inc. (OSK:TSX, "Osisko" or the "Corporation") is pleased to provide a mineral resource estimate for its 100% owned Osborne-Bell gold deposit, located 15 kilometres northwest of the town of Lebel-sur-Quévillon, Québec. This estimate is the result of 927 drill holes (279,925 metres) completed by previous operators on the project since 1994, including 50 that were completed after their last resource estimate was published in 2012, and 4 new drill holes completed by Osisko in December 2017. The mineral resource estimate has been prepared by Innov-Explo from Val-d’Or, Québec and the technical report, to be prepared and filed in accordance with National Instrument 43-101– Standards of Disclosure for Mineral Projects ("NI-43-101") will be available on SEDAR (www.sedar.com) under the Corporation’s profile within 45 days. John Burzynski, President and Chief Executive Officer commented, “We are very pleased with our initial resource estimate on Osborne-Bell, a project we acquired for approximately $1.5 million less than a year ago. We had made no assumptions regarding resources during the bankruptcy acquisition of the deposit and surrounding properties in 2017; this first estimate points to a potentially significant deposit that is located very close to the possible site for a planned future Windfall-Lynx gold mill in Lebel-sur-Quévillon. By virtue of its proximity to the proposed Lebel-sur-Quévillon mill site, mining of Osborne-Bell could be realized with essentially immaterial capital expenditures, assuming material can be transported directly to the nearby proposed mill site. We are continuing our 50,000 metre drill program at Osborne-Bell and the surrounding Quévillon area in order to expand the deposit, which remains open at depth, and focus on upgrading inferred resources to M&I categories. This is an excellent start to our year of building a resource base in the UrbanBarry – Quévillon camp. We are also on track for the eagerly awaited Windfall-Lynx resource update coming in May 2018.” | |
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