Malartic drilling finds extensions (January 30, 2007)

Recent drilling by Osisko Exploration (OSK-V) on the Canadian Malartic gold deposit near Malartic, Que., has confirmed extensions to the known gold resource in two areas of the property.

Nine holes drilled to test the eastern extension of the deposit, on the former Sladen property, all intersected gold mineralization at grades of 0.7 to 4.8 grams per tonne. The mineralized widths ranged form 35 to 135 metres.

Drilling went six-for-six in the deposit’s southern extension, intersecting grades mainly between 0.6 and 1 gram per tonne over wide intersections, 30 to 179 metres in length.

Meanwhile, infill drilling on the western end of the deposit has confirmed earlier intersections and also indicated deeper mineralization. Hole CM06-862, one of three drilled on section 3320E, intersected 113.5 metres grading 0.79 gram gold per tonne and a later zone 205.9 metres in core length, which averaged 1.43 grams gold per tonne. This second intersection started at a depth of 228 metres, and appears to be a zone on the northern fringe of the host porphyry that had not been previously encountered.