Mr. John Burzynski reports
OSISKO SUBMITS PROJECT DESCRIPTION AND PRELIMINARY PROJECT INFORMATION FOR WINDFALL
Osisko Mining Inc. has filed the project description with the federal government (Canadian Environmental Assessment Agency or CEAA) and the preliminary project information with the Quebec government (Ministere du Developpement durable, de l'Environnement et de la Lutte contre les changements climatiques or MDDELCC) for the Windfall Lake project. The project description report is available at the company's website. Following review of both documents, CEAA and MDDELCC will provide Osisko with guidelines for executing the project impact assessment.
John Burzynski, president and chief executive officer of Osisko, commented: "Submission of the project description and the preliminary project information to the federal and provincial governments represents the first step in the environmental approval processes for Windfall. We look forward to consulting with all stakeholders as the design of the Windfall Lake project evolves."
Osisko also received approval from the MDDELCC for the mine water treatment system. This certificate of authorization (CA) allows Osisko to begin dewatering the previously existing ramp in order to conduct advanced exploration, through extending the ramp that was commenced by previous operators.
Mr. Burzynski continued: "Receipt of the CA for the ramp dewatering activities is an exciting step in the advancement of the next phase of exploration. After rehabilitation of the existing ramp, it will allow us to continue to drive forward into the mineralized zones, as well as conduct further exploratory drilling from underground in conjunction with the surface drilling program."
The corporation is currently evaluating the Windfall Lake gold project as a potential underground mining operation. Osisko is well financed with approximately $190-million in cash and equity investments, and is carrying out an intensive definition drilling and large-scale exploration campaign on Windfall and the surrounding area. An updated National Instrument 43-101 resource estimate on the Windfall Lake project is planned for release in the second half of 2017. Osisko has commenced collection of environmental baseline data in the vicinity of Windfall and intends to collect additional data along the potential haul road and around the proposed site of a mill complex near an existing industrial property (the former Domtar Corp. pulp and paper mill) in Lebel-sur-Quevillon, Que.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties in Canada. Osisko holds 100 per cent in the high-grade Windfall Lake gold deposit located between Val d'Or and Chibougamau in Quebec and holds a 100-per-cent undivided interest in a large area of claims in the surrounding Urban Barry and Lebel-sur-Quevillon areas, a 100-per-cent interest in the Marban project located in the heart of Quebec's prolific Abitibi gold mining district, and properties in Ontario, including the Jonpol and Garrcon deposits on the Garrison property. Osisko continues to be well financed with approximately $190-million in cash and investments. Osisko Gold Royalties Ltd. is a significant shareholder of the corporation with approximately 14-per-cent ownership.
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