9/22/2011 5:43:35 AM | | 130 reads | Post #30209112
I just finished listening to Osisko Presentation by Mr. Sean Roosen, the CEO of Osisko,
and I just found out that Osisko actually had UNDERGROUND Target to explore in their MALARTIC mine complex !!!
Yes, this is true, just listen to the presentation video and you will understand more.
In the mean time, you can Check out Page 23 of the PDF files (presentation).
here is the link again to that PDF files:
https://static.gowebcasting.com/documents/files/events/event_00000573_Vit1nDfX.pdf
On page 23 of this PDF files,
You will see the slide which show the top 5 drilling target at Osisko's Malartic property,
and there are NOT just one but TWO Underground target for the next exploration campaign at Malartic which
are UNDERGROUND !
That would be Target number 4 and Target number 5 on that Map (page 23).
There are even a shaft/pathway on Target Number 5 because those area were once underground mine.
Osisko had planned to start drilling the target number 4 in 2012 and target 5 soon after that !
so Malartic is a combo of Open Pit and Underground Pit mine !
This is very similar to Goldboro situation !
(attn to "goldbuzz1" take notice (and thanks to you) I now wrote Goldboro and NOT gold
Sboro hahaha)
This mean Osisko is NOT only interested in Open Pit Mine,
but as long as it is profitable, UNDERGROUND Mine is OK too for Osisko !!!
No wonder on the last OX and OSK Joint PR back in August 11'2011,
Orex's CEO, Mark Billing mentioned something about some area at Goldboro
could be suitable for underground mine !
Some people had been saying that Osisko only want Very LARGE open pit pit,
and do not interested in underground mine,
well, fact is, Orex had decent size (Large enough) open pit mine and also Underground potential just like Malartic !
One More Thing,
Take a close look again at this map,
and you will notice that
the entire proven reserves at Malartic came only from 3.485meters (about 3.5km) of strike length only !!!
Many people thought Malartic as a VERY LARGE open pit mine.
truth is, Malartic is NOT that large in the first place, only 3.5km in strike length (comparable to Goldboro strike length)
Even if Orex only have just half of the strike length of Malartic that is suitable for open pit mine,
(around 1.5km), but 1.5km is still LARGE (Long and wide) ENOUGH for Open Pit Mine Design.
You also had to Remember, just like Malartic,
Orex had much more surface area (inside the concession) that had never been drilled before,
so the potential for more resources is definitely there at Goldboro (area outside the current strike length).
Come to think of it,
I think Orex had much more total concession area than Malartic. (correct me if I am wrong on this one).
in conclusion,
Open Pit or UNDERGROUND, Osisko will mine it, as long as it is profitable !