Re: Osisko Mining Provides Quebec Exploration Update
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Feb 11, 2018 02:34AM
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Osisko Mining has taken the crown in Canada for both last and this year for the most ambitious drilling exploration program of any the the junior explorers. Investors will have the added wait for the upcoming resource estimate at windfall including only part of the lynx drilling results....
It is clear, that dispite any reservations, and those getting underwhelmed by continuous stream of high grade results, the resource estimate will be of a much larger size. And with that acknowledgement, decisions, and puzzle pieces will fall into place. The entire district is part of the puzzle, and the owners of each piece will beome part of a larger whole picture. Both BTR and MTO will be part of the finall puzzle.
Osisko Mining has put out a proposal for a mill to be built just over 100 km away, along with its benefits. Will this actually take place, or does OSK have other options?
Years ago, when a plan was put into place for production, it was deemed uneconomical with the price of gold and the numbers provided for resource estimate at that time. Once this 800000 m of drilling has been completed, this newly calculated resource needs a mill pronto.
MTO has declared plans to enlarge its mill to triple its present capacity. It is also undertaking a 150000 m drilling program of its own, while also planning a 10000 t underground bulk sample. Updated resource estimates will provide investors with new information on its potential.
OSK in the near term will verify a large increase in resource estimate. And BTR on its border has made significant progress in enlarging its strike length...later in the year may come up with an updated resource estimate. Then MTO also on Osisko Mining's border is increasing its scale of exploration, and setting itself up as becoming a vital piece of the district puzzle. A higher output mill which it has in the plans could easily be used for the higher grade material first and a logical order could be integrated into the plans. One large gold mining district controlled by a single entity, in the end.
Osisko Mining has incredible high grade gold intersections at Lynx, MTO has certainly hidden treasure of its own merit, nearby. And BTR will add the the equation. BFD, of course, already controlled by Osisko Mining.
Remember OSK's budget for exploration this year is another $100 million. So you better bet that an option must be in place with all of this drilling, $$$, and no mill yet to process all the gold.
It is interesting, that for over a decade, windfall district had been mostly written, off. Yet now with the huge financial backing and unparallelled drilling and exploration, there will be a new successful gold mining district. And in one of the safest and friendliest mining jurisdictions in the world...Canada and Quebec.
Happy story for all involved. Even present OSK shareholders who are wondering why the current share price is hovering near 52 week lows...time will tell...