The disovery gap hit the 6.7 metre interval of 27.4 g/t gold uncut (17.2 g/t gold reduce to 100 g/t) at 503 metres depth, with a shorter 2.7-metre part grading 63.6 g/t gold uncut (38.2 g/t reduce). True widths are estimated at 55-80% of reported widths.
“It’s early days, but it surely appears like we’ve discovered one other new high-grade system close to Windfall in an space with little drilling,” stated Osisko CEO John Burzynski. “When Osisko found the Lynx deposit in 2016 it was a game-changer for the general scale and grade of Windfall. We consider that this new high-grade discovery could equally have a big constructive impact on our growth plans for the Windfall camp. It definitely underscores the extremely potential nature of Osisko’s strategic land bundle surrounding Windfall, the overwhelming majority of which has but to see any drilling.”
In a analysis observe, Haywood Securities mining analyst Kerry Smith stated the invention could possibly be a “gamechanger” for the corporate, and added that Osisko is ready for outcomes from a number of different drill holes at Golden Bear.
“This can be a very vital discovery, and we suspect Osisko is inspired by each the logging of the seven un-assayed holes together with the assays from this primary gap, highlighting the exploration upside on Osisko’s land bundle,” Smith wrote.
“This goal had restricted drilling up to now, which was principally centered alongside a north-south trending fault which was later acknowledged as submit mineralization. The mineralization at Windfall is related to the north-east trending Financial institution fault, and a newly interpreted east-west trending fault at Golden Bear seems to be an necessary construction which can be associated to the Financial institution fault.”
The opposite holes already drilled at Golden Bear prolong over 700 metres north-south. The corporate will now concentrate on confirming the invention, its orientation and the extent of mineralization.
Osisko says the brand new discovery is located inside a bundle of andesitic to dacitic rock intruded by felsic porphyries. Mineralization intersected at Golden Bear consists of pyrrhotite and pyrite-sphalerite-chalcopyrite with native seen gold in pervasive silica alteration and quartz-carbonate veins.
Osisko is engaged on a useful resource replace for Windfall that needs to be launched earlier than the tip of the yr. A feasibility examine is anticipated to comply with earlier than the tip of the primary quarter in 2022. A preliminary economic assessment launched in April confirmed a strong underground operation that would produce 238,000 oz. gold per yr for 18 years, and price C$544 million to construct.
Windfall presently hosts measured and indicated assets totalling 6 million tonnes at 9.6 g/t gold for 1.9 million oz. Inferred assets add 16.4 million tonnes at 8 g/t gold for 4.2 million oz.
(This text first appeared within the Canadian Mining Journal)