Regional exploration also continues on Windfall Mining Group’s (“WMG”) claim package with an additional 30,000 metres of drilling targeting potential gold-bearing structures including the extension of the Bank fault and porphyritic intrusions associated with favorable alterations.
John Burzynski, President and CEO of Osisko, said, “Today is a vital milestone for Project Windfall and the Cree First Nation as the force line enters service. within the planned deadlines. We would like to thank all the groups and individuals involved in this good fortune and appreciate all their hard work, especially considering the demanding situations presented during last summer’s extensive regional wildfires. We look forward to an exciting year with our regional painting program for 2024 and are confident that more unexpected deposits will be discovered in the Urban-Barry district as we continue further exploration.
Permitting Process and IBA
The COMEX review procedure for Windfall’s Environmental Impact Statement is underway and the Company expects WMG to obtain the first of the questions in the coming months. At the same time, the Corporation plans to finalize the Outstanding Benefits and Impact Agreement with the Waswanipi Cree First Nation. and the Cree Nation Government in 2024.
About the Windfall Gold Deposit The Windfall Gold Deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Quebec, Canada. The Unexpected Project Mineral Resource Estimate (effective June 7, 2022) (the “Unexpected Resource Estimate”) and the Unexpected Project Mineral Reserve Estimate (effective June 7, 2022) effective November 25, 2022) (the “Extraordinary Project Mineral Resource Estimate” (with an effective date of June 7, 2022) (the “Extraordinary Resource Estimate”) Unexpected Reserve”) are described in the technical report entitled “Extraordinary Project Feasibility Study, Eeyou Istchee James Bay, Quebec, Canada” (the “FS Technical Report”) and dated January 10, 2023 (accessible in November). The estimate of unexpected resources, assuming a cut-off grade of 3. 50 g/t Au, includes 811,000 tonnes at 11. 4 g/t Au (297,000 ounces) in the measured mineral resource category, 10,250,000 tonnes at 11. 4 g /t Au (3,754,000 ounces) in the Indicated Mineral Resource Category and 12,287,000 tonnes at 8. 4 g/t Au (3,337,000 ounces) in the Supposed Mineral Resource Category. The Unexpected Mineral Reserve, assuming 3. 5 g/t extraction, 2. 5 g/t additional and 1. 7 g/t progression cut-off grade, contains 12,183,000 tonnes at 8. 06 g/t Au ( 3,159,000 ounces) in the probable mineral reserve. category. The main assumptions, parameters, limits and strategies used in the Windfal Project Feasibility Study, adding the Exceptional Resources Estimate and the related Exceptional Reserves Estimate, are described in the FS Technical Report, which was prepared in accordance with Regulation 43 -101. The FS technical report is available on SEDAR+ (www. sedarplus. ca) under the Osisko issuer profile. The Windfall gold deposit is ultimately one of Canada’s richest resource stage gold projects and is of world-class scale. Mineralization occurs in 3 main zones: Lynx, Main and Underdog. The mineralization is composed of subvertical lenses following northeast-dipping intrusive porphyry contacts. The resources are explained from the surface to an intensity of 1,600 meters, adding the Triple 8 zone (TP8). The reserves are explained from the surface to an intensity of 1,100 meters. The tank remains open laterally and in intensity. Mineralization has been known on the surface in some areas and up to 2,625 meters in others, with significant prospects for the extension of mineralization in depth and intensity.
About Osisko Mining Inc. Osisko is a mineral exploration company focused on the acquisition, exploration and development of valuable steel resources in Canada. Osisko owns a 50% interest in the high-grade Windfall gold deposit between Val-d’Or and Chibougamau in Quebec and owns a 50% interest in a gigantic claimed domain in the domain surrounding Urban Barry and adjacent to the Quévillon domain (over 2,300 square kilometers).
Cautionary Note Regarding Forward-Looking Information This press release comprises “forward-looking data” within the meaning of applicable Canadian securities legislation, which is based on expectations, estimates, allocations and interpretations as of the date of this press release. press. All it involves are expectations, interpretations, beliefs, plans, assignments, objectives, assumptions, occasions or long-term functionalities (often, but not always, expressions such as “expects” or “does not expect”, “is expected” are used). , “interpreted”, “control view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled” “, “forecasts”, “estimates”, “prospective”, “feasibility”, ” “believes” or “intends” or variations of those words and expressions or which indicate that certain actions, events or effects “possibly” or “possibly”, “could”, “might” or “would be expected” to happen or be achieve) are not old data and would possibly constitute prospective data and are intended to identify prospective data. This press release includes forward-looking data relating to, among other things,: the Windfall gold deposit is one of Canada’s richest resource stage gold allocations and is of world-class scale; expected force demand for Project Windfall; the expected significant relief in electric power costs and greenhouse fuel emissions at the Windfall Project; the limitations and qualifications of assumptions of the FS Technical Report, adding those related to the Estimation of Exceptional Resources and the Estimation of Exceptional Reserves; the scope, timing, progress and effects of the drilling program on Urban-Barry properties; the extent, timing, progress and effects of regional exploration conducted on WMG properties; clients of the Windfall project as a highly successful gold mine; long-term drilling at the Windfall gold deposit and Urban-Barry properties; the importance of ancient exploration activities and effects; the ability to accumulate mineral resources or reserves beyond existing estimates of mineral resources or reserves; the ability to identify further deposits (and the quality of those deposits) (if applicable); the progress and schedule of the authorization procedure for the Unexpected Project; and the ability and timeline to finalize an Impact and Benefits Agreement with the Waswanipi Cree First Nation and the Cree Nation Government (if applicable). These points include, among others, hazards related to the ability of exploration activities (adding drilling effects) to the manner in which mineralization is expected; the timing and availability, if any, of download permits; the use of third parties for infrastructure is essential for the structure and operation of the task, adding lines of force; the timing and ability, if any, to finalize an impact and benefits agreement with the Waswanipi Cree First Nation and the Cree Nation Government; the prestige of third party approvals or consents; errors in geological direction modeling; Osisko’s ability to carry out other exploration activities, including (infill) drilling; ownership and royalty interests in the Windfall gold deposit; the Company’s ability to discharge required approvals; the effects of exploration activities; hazards related to mining activities; the exchange rate between the Canadian dollar and the US dollar; the global economic climate; steel costs (adding gold); dilution; environmental hazards; and network and non-governmental actions. Although the forward-looking data contained in this press release is based on what Control believes, or was believed at the time, to be conservative assumptions, Osisko cannot assure shareholders and potential clients of the Company’s securities that the effects of the actual figures will be consistent. with those forecasts. -prospective data, since there may be other points that cause the effects not to be as expected, estimated or expected, and neither Osisko nor any other user assumes responsibility for the accuracy and completeness of this prospective data. Osisko undertakes no obligation and assumes no obligation to update or revise any forward-looking or forward-looking information contained herein to reflect new occasions or circumstances, unless required by law.
CONTACT INFORMATION:John BurzynskiExecutive DirectorPhone (416) 363-8653