Excerpt from Stockwatch GoldIs there a mine coming in my lifetime asking for my grand kids?
Investors disappointed by the lack of long bonanza-grade hits from New Found Gold got their fix today from John Burzynski's Osisko Mining Inc. (OSK). Osisko added 24 cents to $4.50 on 1.82 million shares on word that a 6.2-metre interval drilled into the Lynx 4 zone at its Windfall Lake project in Quebec has returned an average of 120 grams of gold per tonne. A 0.5-metre portion averaged a hefty 768 grams per tonne, but it was hardly a smear job, as the other 5.7 metres assayed a strong 63.2 grams per tonne.
That was but one of several bonanza-grade hits from the series of infill holes. Further, expansion drilling at Lynx also had success. A 4.4-metre hit within the Triple Lynx area averaged 67.1 grams per tonne, aided by a 1.2-metre portion that averaged 230 grams per tonne, while a 2.2 metre intersection in a second Triple Lynx hole returned 60.8 grams per tonne. That hit was also heavily buoyed by a narrow, plus-200-gram-per-tonne zone.
Mr. Burzynski, CEO, said that he and his crew "remain very pleased" with the results of the infill and expansion drilling at Lynx, now the dominant zone at Windfall, with the continued frequency of high-grade gold encounters showing no sign of letting up, and with expansion drilling continuing to define additional zones nearby.
Windfall, at last report, hosts 9.7 million tonnes measured and indicated at 10.5 grams of gold and 5.2 grams of silver per tonne, with another 13.03 million tonnes inferred at 8.6 grams of gold and 4.7 grams of silver per tonne. In all, the project hosts over 6.75 million ounces of gold and 3.55 million ounces of silver. Lynx, with its average grade of 11.56 grams per tonne, accounts for nearly 3.9 million of those gold ounces and so it is likely to remain a focus this year.
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