Issue link: http://resourceworld.uberflip.com/i/712968
a u g u s t / s e p t e m b e r 2 0 1 6 www.resourceworld.com 17 Osisko Mining expands Windfall Lake gold deposit Osisko Mining Inc. [OSK-TSX] changed its name from Oban Mining Corp. on June 14. The new name recalls that of Osisko Mining Corp., the company that brought the Malartic gold mine to fruition and to which several members of manage- ment belonged. Osisko Mining Corp. was acquired by Agnico Eagle Mines Ltd. and Yamana Gold Inc. in 2014; the companies now run the mine as a joint venture. On June 27, Osisko announced a $25 million bought deal flow-through equity financing, gross proceeds from which will be invested in its Québec and Ontario projects. The company's flagship is the 100%-owned Windfall Lake gold project, located between Val-d'Or and Chibougamau, Québec and within the Urban Barry Greenstone Belt. It is currently undergoing a 55,000-metre drill campaign. The efforts combine definition drill- ing above the Red Dog intrusion, with expansion drilling above and below. Initial results have been positive, with highlights including an intersect from hole OBM-16- 656 that comprised 9.04 g/t from 255.2-261 m and 30.6 g/t from 273.30-276.40 m. Hole OBM-16-664 included 4.64 g/t gold from 439.30-449.50 m. On June 3, Osisko reported the dis- covery of new mineralization around 3 km west-southwest of the main Windfall deposit. The feature was defined by two drill holes separated by roughly 700 m and included hole OBM-16-652, which inter- sected 12.72 g/t gold from 208.70-210.20 m. The company noted the results under- pin potential for further delineation work. Mineral resources are just over 2.76 mil- lion tonnes at 8.42 g/t gold for 748,000 indicated ounces and 3.51 million tonnes at 7.62 g/t gold for 860,000 ounces inferred. The company claims Windfall is one the highest-grade resource-stage gold projects in Canada, the bulk of the mineralization occur- ring in the Main Zone. The deposit is well defined from surface to a depth of 500 m and remaining open along strike and at depth. The company also holds the Marban Block about 15 km west of Val-d'Or. On June 13, it announced a new mineral resource estimate for the Marban property, which comprises the Marban and Norlartic deposits. At a cut-off grade of 0.4 g/t gold, measured and indicated (M&I) resources for both deposits stood at just over 1.12 million oz. for 1.23 g/t gold. At a cut-off of 1 g/t, M&I resources comprise 771,000 oz. at 1.99 g/t gold. The news came after Osisko announced the start of a 5,000-metre drill campaign on May 10 that will include seven holes on its Heva property and 15 holes on its Malartic property. In addition, drilling will occur between the Marban and Norlartic depos- its to verify the Stellar Zone's continuity. The company also announced, on July 6, that it had started exploratory work at its wholly-owned Souart property 15 km south of Windfall. n QuébEC