Total
0
Shares
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • The exploration ramp at Windfall has achieved 500 metres vertical depth from the surface
  • Also, a 240-metre ventilation raise from the surface is scheduled to be completed by Technica Mining in early April 2021
  • Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada
  • Osisko Mining Inc. (OSK) is down 1.36 per cent, trading at C$2.90 at 4 pm ET

Osisko Mining (OSK) has provided an update on the underground exploration ramp’s progress at its 100 percent owned Windfall gold project.

The exploration ramp at Windfall has achieved 500 metres vertical depth from the surface.

A total of 7,300 metres of advance, including 16 Lynx Zone sub-level accesses spaced 20 metres vertically, have been excavated by Osisko to date.

Previous operators developed an additional 1,200 metres of the ramp.

The exploration ramp is 5.2 metres wide and 5.5 metres high with a 15 per cent decline angle. The corporation has collected two bulk samples of approximately 5000 tonnes each.

To date, 42 underground drill stations have been created and used to aid in resource delineation.

Infrastructure installed along the advance includes 13.8 kV electric cables, fibre optic cables, four refuge stations, nine electrical substations, and three dewatering substations. Miyuukaa Corporation/CMAC-Thyssen Mining Group is conducting ramp development.

Miyuukaa CEO and President John Kitchen commented,

“The Windfall project is an excellent opportunity for community members from the Cree First Nation of Waswanipi and the other Cree communities of Eeyou Istchee to participate. In learning valuable skills in the mining sector.”

“In addition to underground exploration ramp advancement and drilling, our joint ventures in civil works and camp operations are key to providing over 100 First Nation workers at the Windfall site,” added Kitchen.

Osisko also recently received permission from the Québec Ministry of Energy and Natural Resources to conduct a test stope in Lynx, which will further help grade determinations and provide valuable information for the feasibility study. 

Advanced exploration and infill drilling is being conducted from the exploration ramp, with nine underground diamond drills currently using multiple drilling bays to complete the Windfall drill program.

Osisko Chief Executive Officer John Burzynski commented,

“The underground exploration ramp at Windfall has advanced in step with the drill program over the past three years, to the point where we now have excellent access to the Lynx gold zones.”

“Spectacular visual gold mineralization is being seen in the underground mineralized zones that reflects and confirms the high-grade intercepts reported in our ongoing infill drill program. Most importantly, we have done this safely, having gone 1,113 days without a lost-time incident underground,concluded Burzynski.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada.

Osisko Mining Inc. (OSK) is down 1.36 per cent, trading at C$2.90 at 4 pm ET.

More From The Market Herald

" Osino Resources (TSXV:OSI) upsizes private placement

Osino Resources (OSI) has increased the size of its private placement due to strong investor demand.

" South Star Battery Metals (TSXV:STS) increases non-brokered private placement

South Star Battery Metals (STS) has announced an increase to its non-brokered private placement of units to raise approximately $2,300,000.

" EMX (TSXV:EMX) closes royalty portfolio acquisition from SSR Mining

EMX Royalty Corp. (EMX) closed its acquisition of royalty interest and deferred payments from SSR Mining Inc. and certain subsidiaries.

" Omai Gold (TSXV:OMG) continues outlining gold mineralization

Omai Gold Mines (OMG) is reporting additional results from the drilling program currently underway at the Omai Gold Project in Guyana.