QUEBEC – Toronto’s Osisko Mining reports a bonanza – 2,223 g/t gold over 2.0 metres – intersection in zone 27 at its Windfall Lake gold project in the James Bay region, 200 km northeast of Val d’Or. The company began an 800,000-metre drill program in 2015, and is currently focused on infill drilling at the main Windfall and Lynx deposits.
Windfall has had more than its share of bonanza drill results. Here are some of the most recent:
Hole WST-18-0025: 2,223 g/t gold over 2.0 metres;
Hole OSK-W-18-1785: 69.9 g/t over 2.7 metres;
Hole OSK-W-18-1785-W1: 64.2 g/t over 2.1 metres;
Hole OSK-W-18-1797: 12.3 g/t over 10.7 metres;
Hole OSK-W-18-1781: 34.6 g/t over 3.5 metres;
Hole OSK-W-18-1706: 45.5 g/t over 2.6 metres; and
Hole OSK-W-18-1756: 30.5 g/t over 3.5 metres.
Osisko’s most recent resource estimate covers six separate zones. The indicated portion includes 2.9 million tonnes grading 8.17 g/t gold for 754,000 contained oz. The inferred portion comprises 10.4 million tonnes grading 7.11 g/t gold for close to 2.4 million contained oz. of gold.
Preliminary results of a bulk sample made public in December, put the average head grade at 9.7 g/t gold and 4.4 g/t silver. The sample was taken from zone 27.
In the aftermath of the joint venture agreement with Newmont Mining Corp. earlier this week, Barrick Gold Corp. has taken steps to revise its production guidance for 2019. Executive chairman John Thornton and CEO Mark Bristow are currently travelling to update shareholders on the company's post JV operations.
A lucrative retirement package for the chairman of Goldcorp Inc. is raising the hackles of investors ahead of a key vote on the company’s planned merger with Newmont Mining Corp.
After four straight months of inflows, holdings in global gold-backed ETFs and similar products fell in February by 33 tonnes to 2,479t, equivalent to $1.3 billion in outflows, and gold trading volumes decreased 5% below the 2018 averages to $104 billion per day, according to data from the World Gold Council (WGC).
Pan African Minerals, a unit of Timis Mining Corp., won’t resume production at its Tambao mine in Burkina Faso as a Paris-based arbitration court has dismissed the company’s $2.2 billion claim against the West African nation.
Canada’s Goldcorp (TSX:G) (NYSE: GG) said workers at its Cerro Negro mine in Argentina have returned to work, after an illegal strike at the gold producing operation, the company’s biggest in the South American country.
Gran Colombia Gold (TSX: GCM), the South American country’s largest underground gold and silver producer, has increased the mineral resource and reserve estimate for its Segovia mine, located in the northwestern Antioquia mining district.