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Osisko to spend $3M on exploration east of Timmins

Company will focus efforts on Garrison gold project, located in the Larder Lake mining division
Typical surface mineralization at Garrcon, one of three zones at Osisko Mining's Garrison deposit in northeastern Ontario. (Osisko photo)

Osisko Mining plans to spend $3 million on exploration work at its Garrison deposit in 2018, including resource estimation work, additional resource-oriented infill drilling, metallurgical work and exploration drilling.

Garrison is located about 100 kilometres east of Timmins in the Larder Lake mining division and consists of 214 mineral claims, 25 mining leases, and 87 patent claims encompassing approximately 8,000 hectares. The company is focused on three zones: Garrcon, Jonpol and 903.

In a Feb. 13 news release, Osisko said it had been conducting new exploration and definition drilling at Garrison for 20 months, since early 2016. By the end of January, the company had drilled 85,000 metres of new drilling at the site, which complements pre-existing 108,000 metres drilled by previous operators.

The company plans to release an updated resource estimate for Garrison in July 2018.

“Although our main focus is on the Windfall project in Québec, Osisko has continued work on the Garrison project, with the goal of updating the resource and improving our understanding of the potential of the Garrcon, Jonpol and 903 zones,” company president and CEO John Burzynski said in the release.

“Drilling in 2017 was successful at significantly expanding the size of the 903 Zone. Our upcoming July resource estimate will include all three zones (Garrcon, Jonpol and 903), and we will continue to evaluate the extensions of known mineralization with exploration drilling in 2018.”

Osisko’s flagship project is the Windfall Lake gold deposit located in Québec. The company was launched by the same group that discovered the Malartic Mine in 2011, following a low-grade, bulk-tonnage model.

The open-pit gold mine, located near Malartic, Que., is now the largest gold producer in Canada.