Canadian Mining Journal


GOLD: Osisko cuts 403 g/t over 2.7 metres at Windfall

The more Osisko looks at the Windfall gold project, the more bonanza grades it finds. (Image: Osisko Mining)

QUEBEC – Osisko Mining of Toronto continues its drilling success at the Windfall gold project in Urban Twp. The bonanza this time is 403 g/t gold over 2.7 metres in the Lynx zone.

Osisko is conducting an 800,000-metre drill program at Windfall. Here are some of the most recent uncut highlights:

  • Hole W-18-1412-W1: 403 g/t gold over 2.7 metres, including 1,050 g/t over 1.0 metre;
  • Hole OSK-W-18-1414-W2: 151 g/t gold over 2.2 metres, including 369 g/t over 0.5 metre, and including 117 g/t over 0.9 metre;
  • Hole OSK –W-17-1363: 3.28 g/t gold over 2.0 metres and 40.1 g/t over 2.0 metres, including 79.9 g/t over 1.0 metre; and
  • Hole OSK-W-18-1436: 36.3 g/t gold over 2.0 metres.

According to the Windfall preliminary economic study, a mine there could produce 106,000 oz. of gold annually at an all-in sustaining cost of US$536. The pre-production capex would be C$240.6 million, and the sustaining capital requirement would be C$53.5 million. The PEA is to be updated in June 2018.

The indicated resource, as estimated in June 2017, is 2.8 million tonnes grading 8.42 g/t gold for 748,000 oz. plus an inferred resource of 3.5 million tonnes grading 7.62 g/t gold for 860,000 oz. A new resource estimate is due in May 2018. Life of the mine would be 7.8 years.

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