In the first five months of the year, Osisko Mining (TSX: OSK) released resource estimates for two projects in Quebec while keeping in step with an ambitious drill program that is the largest of its kind in Canada.
Earlier this month, Osisko unveiled its first resource estimate on its 100%-owned Windfall deposit, 115 km east of the town of Lebel-sur-Quevillon. Windfall is one of the highest-grade resource-stage gold projects in Canada.
The company outlined an indicated resources of 2.38 million tonnes grading 7.85 grams gold per tonne for 601,000 ounces of contained gold and inferred resources of 10.61 million tonnes grading 6.7 grams gold for 2.28 million oz. of gold, using a cut-off grade of 3 grams gold per tonne.
The estimate is based on 1,453 drill holes (596,733 metres) completed by previous operators on the project since 1997, and 812 new holes (413,692 metres) that Osisko drilled between October 2015 and March 2018. The resource does not include 131 holes (about 40,000 metres) that were drilled, mainly in Windfall’s Lynx and Underdog zones, since March 5.
The gold-bearing intrusive-related system remains open along strike to the northeast and at depth, and the Lynx and Underdog zones, in particular, have down plunge potential for additional mineral resources, the company says.