Drilling by Osisko Exploration (OSK-V) continues to return encouraging results form the historic F zone on the Canadian Malartic gold property, 25 km west of Val d’Or, Que.
Hole 666 tested an area above old mine workings at the southern limit of the zone where mineralization had not been previously defined, and yielded 58.8 metres (beginning at 58 metes below surface) of sediment-hosted mineralization grading 1.07 grams gold per tonne. The hole was terminated in an old stope; future drilling is planned to test below the stope to a depth of 300 metres.
Another hole at the southern limit of the zone cut 77 metres (from 111.5 m) of 0.7 gram gold in sediments, followed by 117 metres of porphyry grading 0.25- 0.6 gram gold. The hole was collared about 55 meters south of a previous hole that returned 259 metres running 1 gram gold.
Hole 668, about 60 metres to the east encountered 147 metres of 1.02 grams gold, beginning at a depth of 154.5 metres. The sediment-hosted mineralization was followed by 30.3 metres of highly silicified but barren porphyry.
Finally, hole 669, collared 82 metres north of previous drilling yielded 98.5 metres (from 41.2 m) averaging 1.56 grams gold in sediments, followed by 171 metres of 0.75 gram gold in mixed sediment and porphyry. The mineralization remains open at depth.
Earlier this month, three holes at the eastern limit of the F zone encountered sediment-hosted mineralization followed by lower grade, porphyry-hosted mineralization at depth. Gold values ranged from 0.82 to 1.29 grams gold over widths of around 50-260 metres. None of the holes tested below 290 metres.
The drilling is designed to test the grade and distribution of gold mineralization in the deposit to depths of up to 300 metres. Osisko says the latest batch of holes has confirmed continuity of low grade, bulk tonnage mineralization at the western end of the property over a strike length of 460 metres.
Earlier this year, 13 vertical holes on the F zone, including four outside the resource area cut near-surface gold values exceeding 1 gram gold over widths of 51-163 metres. A few of holes stopped in old underground workings.
Osisko believes the F zone represents the near-surface, western extremity of a much larger, contiguous mineralized zone extending at depth. The zone comprises a shell of disseminated mineralization in the upper portion of a diorite porphyry intrusion as well as the overlying altered sediments.
In all, the system is believed to strike some 1.2 km over widths up to 400 metres, and true thickness of 80-250 metres.
The F zone is one of five known near-surface mineralized zones on the property. A pre-National Instrument 43-101 resource estimate pegs the F zone’s resource at 2 million tonnes grading 1.78 grams gold per tonne.
In all, the F, P, A, Wolfe, and Gilbert zones are home to an historic resource totalling 8.2 million tonnes averaging 2 grams gold, or around 519,500 contained ounces of gold.
The Canadian Malartic mine produced more than 1 million oz. of gold from 9 million tonnes of ore grading 3.37 grams gold between 1935 and 1965.
The 15-sq.-km property is subject to a 2-3% sliding-scale net smelter return royalty payable to Barrick Gold (ABX-T).
Drilling will now shift to the eastern end of the mineralized system, some 730 metres away.
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