Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Latest results from seven holes completed on the Lynx zone at Osisko Mining’s Windfall project have returned a number of high grade intercepts.
Drill highlights include:
The latest release incorporates work focused on both infilling Lynx as well as expansion of the mineralization.
The Lynx 313 portion remains open down plunge with additional drilling planned to test its extents.
“The recently announced Lynx bulk sample results and our infill drill program are demonstrating the strong continuity of grade inside the known mineralized zones, which remain open down plunge,” John Burzynski, Osisko’s president and CEO said in the release.
At Windfall, 21 drills are currently working on the Lynx and Triple Lynx zones with a focus on infill, expansion and exploration drilling with an additional three drills working on infilling and expanding other zones.
Bulk sample results released last week from the Lynx 311 zone suggest head grades averaging 17.8 g/t gold.
Current indicated resources at Windfall stand at 2.9 million tonnes grading 8.17 g/t gold for a total of 754,000 oz. with additional inferred resources of 10.4 million tonnes at 7.11 g/t gold for a total of 2.4 million oz. The Lynx zone is currently host to 1.7 million tonnes in the indicated category grading 8.13 g/t gold and 2 million tonnes in the inferred category at 9.7 g/t gold.
A resource update for Windfall is expected in February of next year, to be followed by a feasibility study.
(This article first appeared in the Canadian Mining Journal)
