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Message: Osisko Mining Boosts Resources Estimate For Lynx Zone At Windfall To Over One-Million Ounces

 

2018-11-27 04:25:12 PM ET (MT Newswires)
   
   

04:25 PM EST, 11/27/2018 (MT Newswires) -- Osisko Mining (OSK.TO) after market close on Tuesday said its raised its estimate of the gold resource for the Lynx Zone deposit at the Windfall gold property in Quebec, boosting indicated and inferred resource at the site by a total 235,000 ounces of gold to more than 1.08 million ounces.

The company said boosted estimate, which came following a 131-hole infill drilling program raised its expected resource for the Windfall property as a whole to 3.12 million ounces.

"Osisko's Lynx discovery now represents over one million ounces of the global resource, and we are confident that as we complete the infill drilling we will continue to see the average indicated grade move up," chief executive John Burzynski said in a statement. "The higher grades and additional ounces shown in today's updated resource will also have a strong positive effect on the robust Windfall (preliminary economic assessment) released in July 2018"

Osisko shares closed down $0.03 to $2.50 on the Toronto Stock Exchange.

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