Osisko Mining - CEO, John Burzynski.
CEO, John Burzynski.
Source: 03 Mining.
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  • Osisko Mining Inc. (OSK) has announced an updated four-million-ounce gold mineral resource estimate for its Windfall Project
  • The project’s work is on track and has increased in size and grade quality
  • Average grades sit at 10 grams of gold per tonne
  • Osisko expects to process sample results for Windfall by October to confirm high grades
  • Osisko Mining Inc. (OSK) is down 1.15 per cent and is trading at $2.57 per share as of 11:35 a.m. ET.

Osisko Mining (OSK) has announced an updated four-million-ounce gold mineral resource estimate for its high-grade Windfall Project in Québec.

The company stated this resource estimate includes approximately 1.9 million metres of drilling, with 1.7 million metres already done. The database allegedly has a total of 4,834 drill holes for 1.8 million metres of drilling in the area extent of the mineral resource estimate, of which 4,152 drill holes were completed and assayed by Osisko.

“With this final [resource estimate] update prior to our pending feasibility study, we have met and exceeded our objectives for the Windfall drill program; a robust measured and indicated resource of over four million ounces with an average grade of over 10 grams per tonne gold,” CEO of Osisko, John Burzynski, said.

According to Osisko, the size of Windfall and the deposit grade has steadily increased since the discovery of the Lynx area which represents almost two-thirds of the total gold in the resource estimate.

 “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… the processing of the prior two bulk samples from the upper areas of the deposit returned results that were 26 per cent and 89per cent higher grade than anticipated from drilling,” Burzynski said.

Osisko Mining Inc. (OSK) is down 1.15 per cent and is trading at $2.57 per share as of 11:35 a.m. ET.


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