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Windfall delivers more high-grade gold for Osisko

Osisko Mining is continuing to deliver high-grade gold results from ongoing drilling at its flagship Windfall project in Quebec, where it made the best global intercept of 2020.
Windfall delivers more high-grade gold for Osisko Windfall delivers more high-grade gold for Osisko Windfall delivers more high-grade gold for Osisko Windfall delivers more high-grade gold for Osisko Windfall delivers more high-grade gold for Osisko

Visible gold in drill core from Triple Lynx at Osisko Mining’s Windfall project in Quebec

Staff reporter

Highlights announced yesterday included 2.2m at 344g/t gold from 645.8m at Triple Lynx.

CEO John Burzynski pointed out the new intersections were all from outside the published 2020 resource area and highlighted "the strong upside growth potential" of the deposit.

"Step-out drilling remains focused on the open down-plunge areas of known mineralised corridors in the Lynx area as well as some other high potential areas," he said.

Osisko had topped the table of best drill intercepts globally last year, thanks to its December 1 news of 2m grading 13,634g/t gold including 0.3m at 90,700g/t at Lynx.

The company reported more high-grade results last week, including 2m at 206g/t, with a statement titled "Osisko Windfall infill drilling: still good".

Windfall's 2020 resource comprised an indicated 4.1 million tonnes at 9.1g/t for 1.2 million ounces and an inferred 14.5Mt at 8.4g/t for 3.9Moz, using a 3.5g/t cut-off grade.

The company had raised C$177 million in a bought-deal placement at $3.65 per unit in June.

It was well-financed with about $320 million in cash and equities, according to a September presentation.

Its shares have ranged from $1.67-$4.85 over the past year and closed down 1.1% yesterday to $3.43, capitalising it about $1.2 billion (US$0.9 billion).