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Osisko Mining Inc.
Summary
| Project: | Windfall | |
|---|---|---|
| Deposit: | Windfall, Osborne-Bell | |
| Location: | Canada | |
| Commodities: | Gold | |
| Date: | 7/17/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | PEA | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 17-7-2018: Osisko Mining Inc. announces a PEA report for its Windfall, Osborne-Bell deposit at the Windfall project. PEA results incl. post-tax NPV of US $413.2M, IRR of 33%, 8.1yr LOM at the project. (Toronto, July 17, 2018) Osisko Mining Inc. (OSK:TSX. | |
| Resources: | (Resource): 2.382Mt @ 7.85g/t Au (Ind.), 13.192Mt @ 6.59g/t Au (Inf.) at Windfall and Osborne-Bell | |
| CP/QP: | [Resources]: Judith St-Laurent, Pierre-Luc Richard (InnovExplo Inc.) | |
| ABSTRACT: | (Toronto, July 17, 2018) Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to announce positive results from the independent Preliminary Economic Assessment (“PEA”) prepared in accordance with National Instrument 43-101 at its 100% owned Windfall Deposit located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec, 115 kilometres from the town of Lebel-sur-Quevillon and its 100% owned Osborne-Bell Deposit, located 17 kilometres northwest of the town of Lebel-sur-Quévillon, Québec. The PEA provides a base case assessment of developing both the Windfall and Osborne-Bell deposits as underground ramp-access mines with a central gold processing mill in Lebel-sur-Quévillon, Québec. John Burzynski, President and CEO commented: “Today’s PEA results are excellent with a robust aftertax Internal Rate of Return (“IRR”) of 33% and after-tax Net Present Value (“NPV”) of C$413 M, based only on our initial mineral resource estimate at Windfall with its conservative grade estimate. This is a very strong start to a project that is growing as inferred resources are being converted to higher-grade indicated resources by the ongoing drill program, with optimized mining methods and with the ongoing exploration success at Windfall. The PEA envisions commencing the project with a 3200 tonne per day (“tpd”) long hole mining approach, focused on extracting large panels with minimum widths of 3.5 metres to 4.0 metres and minimum height of 20 metres. While this study focuses only on the larger zones of mineralization, further detailed modelling using adaptive mining methods will be applied to subsequent studies to capture the bulk of the May 14, 2018 resource, including narrow high-grade zones in the Lynx Zone which were not included in this study. The down plunge extensions of Underdog, Lynx, Zone 27, the recently discovered Bobcat Zone, and the recently announced Triple 8 discovery were not included in this study, as mineral resource definition drilling in these areas is still in progress. These areas are expected to be included in the feasibility work in 2019. Osisko’s PEA outlines the strong potential basecase for significant and profitable new gold production in Quebec, and we anticipate that these great initial numbers will only get better as we progress with our large definition and exploration drilling program at Windfall.” | |
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