Osisko makes new discovery at Windfall

JOHANNESBURG (miningweekly.com) – TSX-listed Osisko Mining has discovered a new linear structure currently being investigated at its Windfall gold deposit, in Québec, Canada, the company said in a statement on Tuesday.

The Windfall Lake gold deposit, located between Val-d'Or and Chibougamau in Québec’s Abitibi region, is currently one of the highest-grade resource-stage gold projects in Canada.

Osisko noted that most of the mineralisation occurs in the main zone, a south-west- by north-east-trending zone of stacked mineralised lenses, measuring 600 m wide and 1 400 m long.

The new discovery is the result of Osisko’s expansion programme, which includes step-out drilling along fences located 200 m, 400 m, 600 m and 800 m north-east of the main deposit.

The programme is testing a linear magnetic depression interpreted to be related to a magnetite destructive silica-sericite alteration corridor associated with the Windfall intrusive system.

The initial drill holes have been completed on the first three step-out lines extending 600 m from the last known mineralised intercept in the main deposit.

The initial holes on all three lines have encountered mineralised zones characteristic of the main Windfall deposit, providing strong support for Osisko’s view that the deposit continues along the extension programme area.

This new discovery provides support for the significant potential of the north-east area of the Windfall deposit, which Osisko believes may, with data from more systematic drilling, lead to a measurable increase in the scale of the previously defined mineralised system.

The strong potential for further extensions of the deposit in the north-east-trending magnetic depression is further corroborated by these new results, and will be a new focus of ongoing exploration drilling at Windfall, said the company.