Canadian Mining Journal

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GOLD: New resources for Osisko’s Osborne-Bell



Map of Osisko’s gold projects near Lebel-sur-Quevillon, Que. (Image: Osisko Mining)

QUEBEC – Toronto’s Osisko Mining has released a new resource estimate for its Osborne-Bell gold deposit 15 km northwest of Level-sur-Quevillon. The number includes results from 927  holes, or almost 280,000 metres, drilled by previous operators since 1994. It also includes results of 40 new holes completed after the last resource estimate was published in 2012 and four holes completed by Osisko in December 2017.

The inferred resource is 2.6 million tonnes at 6.13 g/t gold for 510,000 oz of gold. A cut-off grade of 3.0 g/t and a gold price of US$1,300 per oz. were used in the calculation. The deposit is open at depth below 500 metres.

Osisko acquired the Osborne-Bell property in 2017 at a bankruptcy sale for C$1.5 million. The property is close to the site of a potential mill that would treat the company’s Windfall ore should the project be developed.

The company is in the midst of a 50,000-metre drill program at Osborne-Bell (definition and expansion drilling)l and the surrounding Quevillon area.

Details of the Quevillon project are available at www.OsiskoMining.com.