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Osisko Mining Inc.
Summary
| Project: | Windfall Lake | |
|---|---|---|
| Deposit: | Windfall | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 5/14/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-5-2018: Osisko Mining Inc. announces a Resource Estimation report for its Windfall deposit at the Windfall Lake project. Updated mineral resource estimate at Windfall deposit. (Toronto, May 14, 2018) Osisko Mining Inc. (OSK:TSX, "Osisko" or the "Corpor | |
| Resources: | (Resource): 2.382Mt @ 7.85g/t Au (Ind.), 10.605Mt @ 6.70g/t Au (Inf.) | |
| CP/QP: | [Resources]: Judith St-Laurent (InnovExplo Inc.) | |
| ABSTRACT: | (Toronto, May 14, 2018) Osisko Mining Inc. (OSK:TSX, "Osisko" or the "Corporation") is pleased to provide a mineral resource estimate for its 100% owned Windfall gold deposit, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. This mineral estimate is the result of 1,453 drill holes (596,733 metres) in the resource area completed by previous operators on the project since 1997 and includes 812 new drill holes (413,692 metres) completed by Osisko from October 2015 to March 5, 2018. Drilling continues at the Windfall gold deposit, and results disclosed by Osisko since March 5, 2018 (representing 131 drill holes and approximately 40,000 metres of infill and extension holes principally in the Lynx and Underdog zones) are not incorporated in this mineral resource estimate. Table 1 below outlines the mineral resource estimate for the Windfall gold deposit with grade sensitivity shown in Table 2. Footnotes (1) and (2) indicate that values are rounded to nearest thousand which may cause apparent discrepancies. In Table 1, the row entitled "Other" is the combined resource of three satellite zones (Mallard, F3, F17 and F51). John Burzynski, President and Chief Executive Officer of Osisko, commented: "We are very pleased with our initial mineral resource estimate. We have a solid understanding of the Windfall gold-bearing intrusiverelated system, which remains open along strike to the northeast and at depth. The Lynx and Underdog - 2 - zones in particular have excellent down plunge potential for additional mineral resources. We are continuing our 800,000 metre drill program to expand and explore the deposit. Of importance is the infill drilling to convert Inferred resource to Indicated resource has produced higher average grades and is a focus of our ongoing program. 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 PEA, scheduled for early Q3 2018, which will model a blended mining scenario with processing at a central Lebel-sur-Quévillon mill site. We are confident that Windfall will grow further as we continue drilling and as the exploration ramp drives forward." | |
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