Infill results from Osisko Mining’s (TSX: OSK) drill program at the Windfall gold project in the Abitibi greenstone belt in Quebec continue to suggest strong grades within the Lynx zone and confirm past step outs of Triple Lynx.
Drill highlights released on April 29 include 3 metres of 35.3 grams gold per tonne, which confirms a prior intercept of an up-plunge extension of the Triple Lynx zone 120 metres outside of resource wireframes, first reported in February. In addition, one drill hole returned 4 metres of 40.2 grams gold, confirming high grades in the down plunge portion of Triple Lynx.
Intercepts of note from the Lynx zone included 2 metres of 104 grams gold, 3 metres of 76.5 grams gold and 4 metres of 41.2 grams gold.
Osisko has temporarily suspended drilling at Windfall due to the provincial closure of non-essential businesses aimed at stopping the spread of COVID-19. Once this work resumes, drills will focus on Lynx and other areas of mineralization at Windfall, as well as down-plunge exploration within the centre of the mineralizing system.
Earlier this month, Osisko released additional infill results for Lynx, with more high-grade intervals. Highlights include 3 metres of 153 grams gold, 2 metres of 108 grams gold and 2 metres of 99.2 grams gold.
In February, Osisko released updated resources for Windfall, with 4.1 million tonnes at 9.1 grams gold in the indicated category for a total of 1.2 million oz. and a further 14.5 million inferred tonnes at 8.4 grams gold for an additional 3.9 million ounces. The high-grade Lynx zone contains a total of 2.9 million oz. across all resource categories.
At press time, Osisko was trading at $3.54 per share within a 52-week trading range of $1.67 and $4.20.
The company has about 291 million common shares outstanding for a $1.03-billion market capitalization.
— This news item first appeared in our sister publication, Canadian Mining Journal.
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