The Windfall gold project is now powered by hydroelectricity. The 95-km-long, 69 kV power line built, owned, and operated by Waswanipi Cree First Nation has been connected to the project. The move away from diesel power generation for the camp and underground mine will reduce both power costs and greenhouse gas emissions at the site.
Windfall is a 50:50 joint venture of Osisko Mining (TSX: OSK) and Gold Fields (JSE: GFI; NYSE: GFI), with Osisko as the operator. The property is located in the Abitibi Greenstone Belt, Eeyou Istchee James Bay, Que., 700 km north-northwest of Montreal. The property lies within the traditional territory of the Waswanipi Cree First Nation.
The measured and indicated resource contains 4.1 million oz. of gold in 11.1 million tonnes grading 11.4 g/t. There are 3.2 million oz. of gold in the probable reserve that total 12.2 million tonnes at 8.1 g/t. The inferred resource is 3.3 million oz. in 12.3 million tonnes at 8.4 g/t gold. With an anticipated mill head grade of 8.1 g/t gold, Windfall will be among the top 10 richest gold mines in the world and has a production target of 305,000 oz. of gold annually.
Osisko says the Windfall environmental impact assessment review is ongoing, and the impact and benefits agreement is expected to be finalized this year with the Cree Nation government and Waswanipi Cree First Nation.
With Windfall powered up and development proceeding apace, Osisko has begun a 35,000-metre regional drilling program on the Phoenix joint venture (formerly known as the Urban-Barry properties) as part of a 70% earn-in venture option with Bonterra Resources. The first target to be tested is the Moss target 5 km southwest from the Windfall deposit. It shows a similar geological character to the high-grade Lynx zone, which has grades of approximately 12 g/t gold.
More information is available on www.OsiskoMining.com.
