Canadian Mining Journal


GOLD: Osisko hits 9 metres of 202 g/t gold at Windfall

Windfall drill core Credit: Major Drilling

Windfall drill core Credit: Major Drilling

QUEBEC – Osisko Mining has released high-grade drill results from the Lynx and Triple Lynx zones at its Windfall gold project, 700 km north-west of Montreal.

Drill highlights from the 20 drill holes and 12 wedge holes reported include 28 metres of 202 g/t gold (9 metres estimated true width); 2.5 metres of 171 g/t gold; 2 metres of 173 g/t gold; and 2.2 metres of 52.7 g/t gold.

“Lynx has once again delivered very impressive results, giving us one of the highest-grade intercepts in our drilling to date,” John Burzynski, the company’s president and CEO, said in a release. “Our infill drill program continues to highlight the high-grade continuity within the resource area, which remains open down plunge and importantly, towards surface.”

A total of 300,000 metres is scheduled for the 124.7-sq.-km site this year, with over 20 drills, to advance the resource drilling to a feasibility-study level with additional work planned to expand the resources and test targets. According to the company, elements of the feasibility work have been started.

In a note to investors, Kerry Smith of Haywood Capital Markets highlighted the prospectivity of the Windfall land package – the analyst expects resource additions to continue from the project. Based on these latest results, Kerry maintains his ‘Buy’ rating and $7.50 target price for the stock.

The wholly owned Windfall gold project features 4.1 million indicated tonnes at 9.1 g/t gold, for a total of 1.2 million oz., and a further 14.5 million inferred tonnes at 8.4 g/t containing an additional 3.9 million oz. The resources are derived using a 3.5 g/t gold cut-off and include the Lynx, Underdog and Main zones; Lynx is the largest resource contributor.

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