Canadian Mining Journal

News

GOLD: Osisko cuts 479 g/t over 2.0 metres at Lynx



QUEBEC – The Windfall Lake gold project Urban Township keeps yielding very high grades. The latest reported by 100% owner Osisko Mining of Toronto was 479 g/t gold over 2.0 metres from hole OSK-W-17-1169 in the Lynx deposit, immediately northeast of the Windfall claims. Hole 1128 assayed 27.4 g/t gold over 2.2 metres.

Visible gold from the Lynx deposit. (Image: Osisko Mining)

The results form part of Osisko’s 800,000-metre drill program in and around the Windfall and Lynx deposits. Detailed results from 18 of the recent drill holes are available in the news release of Nov. 28, 2017, posted at www.OsiskoMining.com.

Osisko has prepared a preliminary economic assessment for Windfall that examines a project that would produce 106,200 oz. of gold annually for 7.8 years. The pre-production capex would be $240.6 million, followed by $53.5 million in sustaining costs. The project has a post-tax net present value (5% discount) of $135.2 million and internal rate of return of 17.2%. Payback of the original investment would take 3.9 years.