Osisko hits high-grade sods at ‘company-making’ Windfall Lake

VANCOUVER (miningweekly.com) – Explorer and project consolidator Osisko Mining has hit some high-grade returns with recent exploration work at its Quebec-based Windfall Lake gold project, reporting intersections containing as much as 391 g/t gold over 3.1 m (uncut).

The Montreal-based company is currently undertaking an expanded 150 000 m drill programme, which combines definition drilling above the Red Dog intrusion, with expansion drilling above and below Red Dog, as well as exploration drilling on the greater deposit and overall property area. This was the second time in the past three months that Osisko had increased the scale of its drill campaign.

"In recent weeks, our corporate and exploration focus has turned solidly to the Windfall project. Results coming from the current drill programme have centred our attention on the growing potential for Windfall to be our ‘company-maker’ deposit,” president and CEO John Burzynski stated Monday.

Six drills are currently turning on site, and a further four drills will be added to the programme in the coming months. Significant new results from the first five new drill holes returned intersections of 391 g/t gold over 3.1 m (uncut); 15.9 g/t gold over an 8.9 m interval; 10.6 g/t gold over 10.9 m; and 5.75 g/t gold over 16.5 m.

“All indications at this point are leading us to believe that we will continue to expand the main deposit as we advance drilling, particularly to the east-north-east (ENE) and at depth, Burzynski advised, explaining that the results defined significant extensions and additions to the main mineralisation at Windfall, adding a new impetus to the push to explore the main deposit by following the currently known mineralised corridors in the ENE direction to try to find the centre of gravity of the deposit.

Well-funded Osisko advised that the new results demonstrate the high potential for significant new mineralisation near the known Windfall mineral inventory through continued definition and exploratory drilling, specifically in the eastern extension of the deposit and below the Red Dog intrusion.

According to a November 2014 mineral resource update, Windfall Lake holds 748 000 oz of gold at 8.42 g/t gold in the indicated category, and 860 000 oz of gold at 7.62 g/t gold in the inferred category.