GOLD RESOURCES: First estimates from South Barnat deposit

QUEBEC - Montreal-based Osisko Mining has received the initial 43-101-compliant resource estimate for the South Bar...

QUEBEC — Montreal-based Osisko Mining has received the initial 43-101-compliant resource estimate for the South Barnat deposit, located on its 100%-owned Canadian Malartic property 20 km west of Val d'Or. The global inferred resource is 26.5 million tonnes grading 2.12 g/t Au at a cutoff grade of 1.00 g/t. Considered another way, the deposit hosts 1.81 million oz.

 

South Barnat is a separate deposit from the Canadian Malartic deposit, which has a measured and indicated resource of 88.4 million tonnes grading 1.75 g/t Au at a cutoff of 1.00 g/t. The two deposits are estimated to contain close to 7.0 million oz of gold.

 

The feasibility study for the Canadian Malartic deposit used a 0.36-g/t cutoff. When that figure is used, the two deposits contain 232.2 million tonnes at 1.03 g/t Au measured and indicated plus an inferred resource of 73.7 million tonnes at 1.05 g/t Au. All together, the project may host 10 million oz of gold.

 

Osisko is now working to convert most of the South Barnat inferred resource to an in-pit measured and indicated resource. The company has eight drills turning at the project.

 

The company website at www.Osisko.com contains the results of the feasibility study as well as a 3-D animated model of the Canadian Malartic deposit. Interested readers might also want to view the animation of the life cycle of the project.

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