Canadian Mining Journal report MEXICO – Osisko Mining of Montreal is turning its attention to Mexico, staking approximately 1.0 million ha of prospective ground in what it believes will be an emerging gold belt in that country.
Osisko began a systematic greenfield exploration program in late 2011, starting with a high density stream sediment survey comprising over 4,000 samples. Detailed mapping, geochemistry and geophysics were subsequently completed over identified anomalous areas. The work to date has identified a large magmatic-hydrothermal system with a coincident 5 km2 gold-copper-silver soil and lithogeochemical anomaly, all located within a 14 km2 hydrothermal alteration zone. This target is currently undergoing preparatory work for a preliminary 10,000 metre drill program. Two additional anomalies were also identified, and work is underway to bring them to drill ready status.
Unfortunately, the company did not pinpoint the location of its new claims. In 2009 Osisko bought a 39.8% interest in Bowmore Exploration that has optioned two exploration projects in Sonora state from Amex Exploration. Osisko has subsequently purchased more Bowmore shares and currently holds a 33.1% interest in the smaller company.