Large resource from Canadian Malartic

An initial inferred resource for the Canadian Malartic gold deposit in northwestern Quebec shows a resource of around 6.5 million oz.

Consulting firm RSG Global, engaged by owner Osisko Exploration (OSK-V), put the size of the resource at 178 million tonnes grading 1.1 grams gold per tonne, based on a cutoff grade of 0.5 gram gold per tonne. (Using three estimation methods the resource’s size ranged from 171 to 178 million tonnes, at grades of 1.1 to 1.2 grams per tonne.)

A cutoff grade of 1 gram per tonne brings the resource down to about 85 million tonnes grading 1.6 grams per tonne.

The resource was based on drilling on the Canadian Malartic property alone, though it did project a 50-metre strike length of the mineralization across the eastern property line into the Sladen property, also controlled by Osisko. Recent drilling on Sladen has confirmed that at least a 240-metre strike length of the deposit’s eastward extension across the claim line is mineralized.

Further infill drilling is underway, intended to upgrade the estimate to an indicated resource drilled at 30-metre intervals.