The Northern Miner, using the IntelligenceMine database of our sister company Infomine, has compiled the recent top-five gold intercepts (grade multiplied by width) reported in Canada. The data included diamond drill results released from April 1, 2017, to May 16, 2017, on various-staged projects. The results are uncut, unless stated as true widths. True widths are 65–80% of the drill core length.
1. Osisko Mining, Windfall Lake, Quebec
Osisko Mining (TSX: OSK) has been aggressively drilling its wholly owned Windfall Lake gold project in Urban Township, located between Val-d’Or and Chibougamau in Quebec’s Abitibi region.
The company has reported encouraging results from its ongoing 400,000-metre program, which includes definition, expansion and exploration drilling on the greater deposit and Urban-Barry project area. It is increasing the drill rigs to 25, from 21.
On May 3, Osisko unveiled stellar intercepts from the Caribou corridor. Infill hole 820 returned 2.5 metres (from 617 metres) grading 936 grams gold per tonne (or 2,340 metres × grams gold per tonne). The interval includes a bonanza-grade intercept of 4,620 grams gold over a half-metre.
Mineralization has “3% to 4% pyrite in stringers hosted in a strongly bleached andesitic rock,” Osisko says, adding that gold was visible in a carbonate-chlorite vein.
Hole 820 is 90 metres east from the previously reported hole 766-W1, which hit 5.8 metres of 15.6 grams gold.
Osisko plans to update Windfall Lake’s resource this year, before completing a prefeasibility study in the second half of 2018. Construction should begin in 2019, subject to permitting.
The project hosts 748,000 indicated oz. (2.76 million tonnes at 8.42 grams gold) and 860,000 inferred ounces (3.5 million tonnes at 7.62 grams gold).
2. Wallbridge Mining, Fenelon project, Quebec
Wallbridge Mining (TSX: WM) published results from its first drill program on its wholly owned Fenelon gold property in Quebec, 75 km northwest of the town of Matagami. The assays, released on April 18, surpassed company expectations and confirmed the resource expansion potential on the property.
Wallbridge began Fenelon’s exploration drill program this March. To date, it has drilled nine holes totalling 1,573 metres. Five of these holes hit significant gold mineralization, with drill hole 7 returning the best intervals.
Hole 7 intersected three mineralized zones, including 7.1 metres (from 122 metres) of 149.1 grams gold (or 1,053 metres × grams gold per tonne), with a higher-grade sub-interval of 3.7 metres of 281.30 grams gold. The gold grades are uncapped.
Wallbridge notes it will resume drilling once the wet spring conditions subside.
Earlier this year, the company tabled a positive prefeasibility study on how it could mine the known reserves within 100 metres from surface and near the existing ramp for an initial 18-month mine life. Estimated initial construction costs are $5.2 million.
The junior expects to make a bulk sample and production decision later this year.
On May 16, Wallbridge raised $1 million in the first tranche of a non-brokered private placement to help fund its exploration efforts.
3. Barkerville Gold Mines, Cariboo project, British Columbia
Barkerville Gold Mines (TSXV: BGM) is carrying out a 130,000-metre, phase-two Island Mountain exploration and delineating drill program at its flagship Cariboo gold project near Quesnel, British Columbia.
The program aims to determine the extent of the historically unexplored vein systems, as well as find vein systems and sulphide replacement deposits that will form a maiden resource estimate at Island Mountain.
On April 17, Barkerville reported hitting high-grade stockworks at the Island Mountain Shaft Zone. Drill hole 72 discovered a “network of high-tenor veining” of 54.4 metres grading 19.2 grams gold (or 1,044.5 metres × grams gold per tonne). The interval included 30.7 metres of 32.06 grams (or 984 metres × grams gold per tonne), plus other high-grade hits, such as 760 grams gold over 0.9-metre and 272 grams gold over half a metre.
The Cariboo project also hosts the Cow and Barkerville Mountains. The company plans to start underground production at the Bonanza Ledge mine on the Barkerville Mountain deposit in the third quarter of 2017. It will process the material at the company’s QR milling facility, 110 km south.
The Bonanza Ledge mine is permitted to produce up to 150,000 tonnes per day and has an initial three-year mine life, with the BC Vein expected to increase this.
4. Alexandria Minerals, Orenada project, Quebec
Alexandria Minerals (TSXV: AZX; US-OTC: ALXDF) published promising assay results from its Orenada property in Val d’Or, Que.
On May 10, it highlighted step-out hole 100 — drilled below the open pit at Zone 4 — and cut several high-grade gold veins and their associated alteration envelopes between 39.3 metres and 256 metres deep, intersecting 217 metres of 2.84 grams gold (or 1,044.5 metres × grams gold per tonne). The interval included other high-grade assays, such as 13.9 metres of 9 grams gold, including 5 metres of 16.23 grams gold and 15.4 metres of 6.29 grams gold.
Hole 100 has returned the best results to date at Zone 4. It increased the gold mineralization strike length west of the current resource and deepened it 100 metres — to 256 metres deep.
Alexandria is waiting for assay results from 22 holes, including 10 step-out holes west of the pit.
The recently completed holes at Zone 4 are from the company’s initial round of drilling to test for south-dipping veins, with focus on the upper 250 metres of depth. The 11,000-metre winter program includes infill drilling the current resource area and step-out drilling west and east of the current resources.
In 2009, the company completed a resource estimate on Orenada zone 2 and 4 that indicated a near-surface deposit less than 250 metres deep, with 361,395 oz. gold in measured and indicated resources and a 175,596 oz. inferred resource.
5. TomaGold, Iamgold, Monster Lake project, Quebec
TomaGold (TSXV: LOT) and Iamgold (TSX: IMG; NYSE: IAG) are advancing the Monster Lake gold project, 50 km southwest of Chibougamau, Quebec.
On May 11, TomaGold and Iamgold reported assay results from the first 11 holes (5,100 metres) that Iamgold drilled at Monster Lake. The results are part of the 24-hole program, totalling 10,657 metres, completed recently.
Hole 194 intersected 3.1 metres of true width grading 121.67 grams gold (or 377 metres × grams gold per tonne) from 339 metres. The interval included 1.1 metres of 316.9 grams gold.
Another interesting hole returned 4.4 metres of true width grading 5.21 grams gold, including 1.3 metres of 15.99 grams.
The partners should release the rest of the results shortly. They project completing a maiden resource estimate by year-end.
TomaGold holds 45% of Monster Lake, while Iamgold has a 50% interest and an option to increase its stake to 75% by spending another $10 million on the project over seven years, starting from 2015. Junior Quinto Real Capital (TSXV: QIT) owns the remaining 5% interest.