Osisko updates resource estimate ahead of Windfall PFS
Toronto-listed Osisko Mining has provided an updated mineral resource estimate (MRE) for its Windfall gold deposit, which will form the basis of the feasibility study that is set to be completed by year-end.
The project, in Quebec, has a measured and indicated resource of 4.1-million ounces, averaging 11.4 g/t gold. The resource ounces increased by 26% and the resource grade by 8% from the previous estimate.
“The scale of Windfall and the deposit grade has steadily increased since Osisko’s discovery of Lynx in late 2016. Lynx now represents almost two-thirds (65%) of the total gold in the MRE, and it continues to impress with a standalone total measured and indicated resource of 3.1-million ounces, averaging 13 g/t gold,” said Osisko CEO John Burzynski.
He reported that Osisko had completed the extraction and the transportation of the Lynx 600 bulk sample in August, and that the custom mill was being prepared for treating the test material.
“We expect to have the processed results in hand for this high-grade sample by early October and anticipate that it will once again confirm a higher grade than indicated by drilling,” said Burzynski.
The processing of the prior two bulk samples from the upper areas of the deposit returned results that were 26% and 89% higher grade than anticipated from drilling, he added.
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