Deep sea mining puts $560 billion in land extraction at risk — report
Even in optimal scenarios, the activity would generate only $6.25 million in tax revenue for countries involved, says Planet Tracker.
Osisko Mining has released high-grade drill results from the Lynx and Triple Lynx zones at its Windfall gold project, 700 km north-west of Montreal.
Drill highlights from the 20 drill holes and 12 wedge holes reported include 28 metres of 202 g/t gold (9 metres estimated true width); 2.5 metres of 171 g/t gold; 2 metres of 173 g/t gold; and 2.2 metres of 52.7 g/t gold.
“Lynx has once again delivered very impressive results, giving us one of the highest-grade intercepts in our drilling to date,” John Burzynski, the company’s president and CEO, said in a release.
The wholly owned Windfall gold project features 4.1 million indicated tonnes at 9.1 g/t gold
“Our infill drill program continues to highlight the high-grade continuity within the resource area, which remains open down plunge and importantly, towards surface.”
A total of 300,000 metres is scheduled for the 124.7-sq.-km site this year, with over 20 drills, to advance the resource drilling to a feasibility-study level with additional work planned to expand the resources and test targets. According to the company, elements of the feasibility work have been started.
In a note to investors, Kerry Smith of Haywood Capital Markets noted highlighted the prospectivity of the Windfall land package – the analyst expects resource additions to continue from the project.
The wholly owned Windfall gold project features 4.1 million indicated tonnes at 9.1 g/t gold, for a total of 1.2 million oz., and a further 14.5 million inferred tonnes at 8.4 g/t containing an additional 3.9 million oz.
The resources are derived using a 3.5 g/t gold cut-off and include the Lynx, Underdog and Main zones; Lynx is the largest resource contributor.
(This article first appeared in the Canadian Mining Journal)
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Patricia Middleton
I wish I lived in Canada.