Best Drill Interceptions In The Metals Mining Sector For The Week Ended March 15, 2020

Mar. 19, 2020 1:22 PM ETIPMLF, NCMGF, NCMGY, OBNNF, III:CA, NCM:CA, OSK:CA5 Comments

Summary

  • Osisko Mining with bonanza gold grades at Windfall Lake.
  • Imperial and Newcrest confirm the presence of a high-grade gold-copper zone at Red Chris.
  • Newcrest and Greatland with good gold-copper interceptions at Havieron.

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(Source: Exploration Insights)

Introduction

If you're into investing in the mining sector, you should know the above chart very well. This series covers the three projects with the most significant drill interceptions over the past week, as well as the prospects of the companies which own these projects. I will use data from the weekly bulletin of opaxe, which can be found on its website. Note that the drill interceptions are converted into grades of gold equivalents using the following formula:

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(Source: opaxe)

opaxe has chosen gold as the metal equivalent for all conversions, as it considers gold to be the most widely used and best-understood benchmark to determine or appreciate the grade tenor of a drilling intercept.

(Source: opaxe)

1) Windfall Lake gold project in Canada

On January 9, Osisko Mining (OTCPK:OBNNF) released another batch of drill results from the ongoing definition and expansion drill program at its Windfall Lake project, and the best interception was 2.4m @ 948g/t Au from 55.7m in hole OSK-19-2226. This is equal to 2,275(AuEq.)m.

(Source: Osisko Mining)

At the moment, the company has a total of 19 drills active at the Lynx and Triple Lynx deposits.

Windfall Lake is located near the Val-d'Or and Chibougamau projects in Québec and is among the highest grade gold projects in Canada:

(Source: Osisko Mining)

In February 2020, Osisko released an updated mineral resource estimate for the project, which added 452,000 ounces of gold in the indicated category and another 1.57 million ounces of gold in the inferred category. Another two million ounces across all categories for a year of drilling is great.

(Source: Osisko Mining)

The new resource estimate will significantly improve the key financial figures from the Preliminary Economic Assessment for Windfall, which was prepared in 2018.

(Source: Osisko Mining)

Osisko plans to release the

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