Thursday, 26th June 2008 (471 views)

Mining corporation Osisko has today (June 26th) announced the initial results from its definition drill program currently being undertaken in the South Barnat Zone.

The corporation is currently evaluating gold deposits in the Canadian Malarctic gold deposit and surrounding areas.

The drill program is currently focused on an 850-metre long grid with sections 50 metres apart, reports Fox Business.

Work has revealed that the current minimum strike length in the South Barnat Zone is likely to be 775 metres with a width ranging from 30 to 90 metres.

Sean Roosen, chief executive of Osisko, told Fox Business that the exploration "suggests potential for even higher grade material, which could have a very positive effect on the Canadian Malartic project parameters."

The company has also announced the completion of its 25,000-metre condemnation drill program, where no significant gold mineralisation was discovered.

Osisko held a conference today for shareholders to discuss with them the results from South Barnat.

The company has stated that it expects to release a resource estimate on the main Canadian Malarctic gold deposit by the middle of next month.

 

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