04:11 PM EST, 02/19/2020 (MT Newswires) -- Osisko Mining (OSK.TO) on Wednesday issued a new mineral resource estimate for its Windfall gold project in Quebec, showing the site contains an indicated resource of 1.21 million ounces at a cutoff grade of 9.1 grams per tonne and 3.94 million ounces of inferred resources at a grade of 8.4 gpt.

However the company said that using a cut-off grade of 3.5 grams per tonne, inferred resources at the site's three deposits rise to 4.22 million ounces.

"We have been confident since Osisko discovered Lynx in 2016 that we had another world-class gold deposit developing at Windfall. The number of ounces and average grade at Lynx has continued to increase as we advance the resource infill drilling," chief executive John Burzynski said in a release.

Drilling at the property is continuing, with 19 rigs active on the property.

Osisko shares closed up C$0.01 to C$3.72 on the Toronto Stock Exchange.

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