Osisko Announces Updated Mineral Resource Estimate at Osisko Mining’s Windfall Project

by ahnationtalk on February 21, 202069 Views

MONTREAL, Feb. 20, 2020  — Osisko Gold Royalties Ltd (“Osisko” or the “Company”) (TSX & NYSE: OR) is pleased to announce that Osisko Mining Inc. (“Osisko Mining”) has provided an updated mineral resource estimate for its 100% owned Windfall gold deposit (‘Windfall”), located in Québec. Osisko holds a 2.0-3.0% net smelter return royalty on Windfall.

Drilling carried out in 2019 at Windfall increased the indicated mineral resource estimate by 60% (added 452,000 ounces) and increased the inferred mineral resource estimate by 66% (added 1,572,000 ounces). The Windfall project now hosts indicated mineral resources of 1.21 Moz (4.1 Mt @ 9.1 g/t) and inferred mineral resources of 3.94 Moz (14.5 Mt @ 8.4 g/t), entirely above 1,200 metres vertical depth. Located in Québec, one of the best mining jurisdictions in the world, this mineral resource estimate moves Windfall to world-class status in terms of scale and grade.

Sean Roosen, Chair and CEO of Osisko, stated: “We would like to extend our congratulations to the Osisko Mining team, led by John Burzynski, for recently completing 1 million metres of drilling and delivering this world-class resource. Osisko and Osisko Mining’s teams have collectively worked on three world class gold deposits discovered in Québec over the past fifteen years – Canadian Malartic, Éléonore, and now Windfall. This couldn’t have been possible without the strong support of all stakeholders. The Windfall project will deliver substantial benefits to the province of Québec, the area’s First Nations communities and other stakeholders.”

Windfall Gold Deposit Mineral Resource Estimate by Area (3.5 g/t Au cut-off)

Area INDICATED INFERRED
Tonnes
(000 t) (1)
Grade
(g/t)
Ounces Au (1)
(000 oz)
Tonnes (1)
(000 t)
Grade
(g/t)
Ounces Au (1)
(000 oz)
Lynx2 1,817 11.3 661 6,349 10.9 2,233
Underdog 561 8.0 145 4,776 6.9 1,067
Main3 1,749 7.1 401 3,407 5.8 638
Total 4,127 9.1 1,206 14,532 8.4 3,938
  1. Values are rounded to nearest thousand which may cause apparent discrepancies.
  2. Lynx area includes: Lynx Main, Lynx HW, Lynx SW and Lynx 4, Triple Lynx.
  3. Main area includes: Zone 27, Caribou, Mallard, Windfall Nord and F-Zones.

For more details, please refer to Osisko Mining’s press release dated February 19, 2020 and titled “Osisko Windfall Updated Mineral Resource Estimate”.

Qualified Person

The scientific and technical content of this news release has been reviewed and approved by Mr. Guy Desharnais, Ph.D., P.Geo., Director of Mineral Resources Evaluation at Osisko Gold Royalties Ltd, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). For more technical details, please refer to Osisko Mining’s press release dated February 19, 2020 and titled “Osisko Windfall Updated Mineral Resource Estimate”.

About Osisko Gold Royalties Ltd

Osisko Gold Royalties Ltd is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 135 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada. Osisko also owns the Cariboo gold project in Canada as well as a portfolio of publicly held resource companies, including a 15.9% interest in Osisko Mining Inc., 17.9% interest in Osisko Metals Incorporated and a 19.9% interest in Falco Resources Ltd.

Osisko is a corporation incorporated under the laws of the Province of Québec, with its head office is located at 1100 avenue des Canadiens-de-Montréal, Suite 300, Montréal, Québec, H3B 2S2.

For further information, please contact Osisko Gold Royalties Ltd:

Sandeep Singh
President
Tel. (514) 940-0670
ssingh@osiskogr.com

NT4

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