Heute stehen keine weiteren Termine an. » zu den Börsenterminen von morgen Das Team von peketec.de wünscht allen Tradern und Investoren einen schönen Feierabend :-)
Osisko Outlines New Mineralized System at Malartic Mineralization in Western Porphyry Zone could extend over 1200 metres
MONTREAL, QUEBEC--(Marketwire - Aug. 27, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)( (FRANKFURT:EWX) is pleased to announce that results from a drill hole collared at the northwestern limit of the Canadian Malartic property, combined with preliminary compilation work on the recently acquired East Amphi property, indicates potential for a new, significant gold mineralized system in the Malartic camp, separate and distinct from the Canadian Malartic deposit.
Drilling in the 1980's on the Western Porphyry Zone, located approximately 1300 metres northwest of the western end of the Canadian Malartic deposit, outlined a mineralized system consisting of at least seven sets of mineralized auriferous quartz veins hosted by porphyry dyke swarms and volcanic rocks. The mineralized vein system is located within the Cadillac Break and was outlined over an area measuring 200 metres by 500 metres. The veins sets, however, were too narrow and intermittent to be of economic interest and little porphyry material was assayed outside of the vein sets.
Richmont Mines drilled a single inclined hole (FX06-01) at the southeastern limit of the system in 2006 and systematically assayed all drill core. This hole intersected 128.2 metres averaging 0.63 g/t Au (from 21.5 to 149.7 metres), all within porphyry. The porphyry dyke swarm continues beyond the Western Porphyry Zone in a southeastern direction for 700 metres, onto the Canadian Malartic property where it reaches the Malartic town limits. Osisko drilled a single inclined hole into porphyry (CM07-1011) at the town limits, i.e. 700 metres southeast of FX06-01, which returned 238.3 metres averaging 0.64 g/t Au (from 171.9 to 410.2 metres). In both holes, the porphyry contains few quartz veins and is relatively homogenously mineralized with 1 to 3 percent disseminated pyrite.
These results suggest potential for a large, low grade, porphyry-hosted gold system similar to that of the F Zone porphyry at Canadian Malartic. Geological compilation suggests that the entire porphyry swarm measures approximately 1200 meters in length, is 200 to 250 metres wide on surface, and that the swarm merges and expands into a single large intrusion that is 400 metres wide at a depth of 200 meters. It is worth noting that CM07-1011 stopped in mineralization, and that there has been no historical drilling in the Western Porphyry Zone designed or analyzed to test for a large tonnage, low grade gold deposit.
Osisko is now designing a reconnaissance drill program in order to test the bulk tonnage potential of the new mineralized zone. A series of holes collared along fences spaced two hundred metres apart will be drilled in the fall of 2007.
Commenting on the new discovery, Sean Roosen, President of Osisko stated: "We are very encouraged with ongoing exploration results on our property package in the Malartic camp and the potential it offers for low grade, bulk tonnage gold resources. The Western Porphyry Zone looks very promising and should it be mineralized throughout its 1200 metre length, we are obviously looking at potential for another significant gold resource, above and beyond what we are developing at the Canadian Malartic deposit. This zone offers a significant opportunity to outline new resources for Osisko and we are looking forward to continued exploration in this area".
In other developments, Osisko wishes to announce that The Board of Directors has approved an increase in the stock option program to a total of 13,400,000 from the previous maximum of 11,100,000 grantable options. The increase is to allow the Company to recruit and retain key individuals for the development of the Canadian Malartic Project.
The Canadian Malartic gold deposit and adjacent areas are being evaluated for a large-scale open pit, bulk-tonnage mining operation. An updated NI 43-101 compliant, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report was filed on SEDAR on August 17, 2007. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Sep 07, 2007 08:00 ET Osisko Recruits Experienced Mine Development Team
MONTREAL, QUEBEC--(Marketwire - Sept. 7, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK) (FRANKFURT:EWX) is pleased to announce that it has completed the recruitment and appointment of the following key individuals who will form the core of its mine development group for the Canadian Malartic gold project.
Vice President Engineering and Construction: Mr. Luc Lessard, P. Eng.
Luc Lessard, has been appointed Vice President Engineering and Construction effective October 1, 2007. Mr. Lessard is a graduate of Laval University with a Bachelor of Applied Science in Mining Engineering and is a member of L'Ordre des Ingenieurs du Quebec. He has more than 20 years of progressive experience in mining development and operations, and has participated in several greenfield and brownfield mine construction and development/expansion projects in Quebec and South America. Mr. Lessard is currently Vice President Engineering and Construction with IAMGOLD Corporation. Mr. Lessard will be responsible for overseeing Osisko's Canadian Malartic feasibility study and subsequent construction and development of the project.
Vice President Sustainable Development: Mr. Jean-Sebastien David, M.Sc.
Jean-Sebastien David has been appointed as Vice President Sustainable Development with direct responsibilities for environmental aspects, health and safety, permitting and community relations. Mr. David has a B. Sc. in Geology and a Masters Degree in Project Management from the Universite du Quebec a Chicoutimi. Mr. David has held various positions in mining operations and in the environmental sector with large and medium size companies. He is currently General Manager - Sustainable Development with a large intermediate gold producer and will be joining Osisko in October.
Vice President Legal Affairs and Corporate Secretary: Mr. Andre Le Bel, LL.B.
Andre Le Bel is a graduate of Laval University (B.Sc. A., Consumer Studies) and holds a Bachelor of Laws (LL.B. Civil Law) from the Universite de Sherbrooke. He is a member of the Quebec Bar Association and has more than 10 years of experience in the administration of natural resource companies. Andre is currently Vice President Legal Affairs for an intermediate gold producer and will be joining Osisko in October.
Manager - Mining: Mr. Paul Johnson, P. Eng.
Mr. Paul Johnson holds a Bachelor of Science Mining Engineering degree from Laval University and is a member of L'Ordre des Ingenieurs du Quebec. Mr. Johnson has more than 25 years of progressive experience in large-scale open pit mining operations both in Quebec and internationally. Mr. Johnson will be responsible for the development of the mining plan, selection of open pit equipment, supervision of mining and equipment maintenance operations. He joins Osisko in late September.
Manager - Mineral Processing: Mr. Denis Cimon, P. Eng.
Denis Cimon brings to Osisko more than 20 years of professional experience in design and operating of large gold extractions plants. Mr. Cimon is a graduate of Laval University with a Bachelor of Science Mining Engineering degree (Mineral Processing) and a Masters of Science degree (Mineral Processing). He is a member of L'Ordre des Ingenieurs du Quebec. He will be directly responsible for overseeing the design of the mill, selection of processing equipment and mill and tailings operations. Mr. Cimon was recently involved in the design, start-up and successful operations of the Rosebel Mine in Suriname. He joins Osisko in mid-September.
Sean Roosen, President and CEO of Osisko stated: "We are extremely pleased to have this highly experienced group of Quebec-based mining professionals join Osisko. Their broad, in-depth experience with building and operating large open pit mines will help accelerate our feasibility study and our objective of subsequent project development for the Canadian Malartic Project. Osisko's expanding team has wide experience in Quebec and relationships with contractors, consultants, government authorities and mine operating personnel - all of which we believe will help ensure the ultimate success of the Project."
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $90 million on hand and is carrying out an aggressive definition drilling and exploration drilling campaign on the Canadian Malartic deposit and surrounding property. An updated NI 43-101 complaint, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report is available on SEDAR.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Sep 11, 2007 08:00 ET Osisko Awards Contracts for Feasibility
MONTREAL, QUEBEC--(Marketwire - Sept. 11, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK) (FRANKFURT:EWX) is pleased to announce that it has awarded contracts for the overall feasibility, metallurgical design, engineering, open pit geotechnical investigations and tailings impoundments for the Canadian Malartic Project to BBA Inc. ("BBA") and Golder Associates ("Golder").
Based in Montreal, Quebec, BBA is a specialized mining engineering company with a group of highly qualified metallurgists, and mining, civil/structural, mechanical, electric and automation engineers with experience in the design and operation of high-tonnage, low-grade gold mining and processing projects. With over 350 employees, the mining and metallurgy group is located in Montreal.
Under the supervision of Luc Lessard, recently appointed Vice President of Engineering and Construction for Osisko (see Osisko press release dated September 7, 2007), the Feasibility Project Manager for BBA will be David Runnels, P.Eng., who has over 35 years experience in the process design and engineering management of mineral processing plants, and whose experience encompasses large open pit mines such as Omai, Troilus, Rosebel and El Pachon. Mr. Runnels and the BBA team have a strong prior working relationship with Mr. Lessard and other members of Osisko's recently appointed mine development team.
Golder has been awarded the contract for open pit geotechnical investigation and design of the tailings storage facility for the Canadian Malartic Project. Project Director for Golder will be Michel Julien, Senior Engineer from Golder's Montreal office, under the supervision of Luc Lessard from Osisko. Golder has a long history of involvement in mine waste management projects in Quebec and particularly in the Malartic area, with involvement in the East Malartic mine site dating back to the 1960's. Golder planned and designed the expansion of the East Malartic tailings basin for the Lac Minerals Doyon and Bousquet mines and was involved in the tailings facility up until the property was eventually sold by Barrick Gold Corporation in 2003. Subsequently Golder has been engaged by the Quebec Government in auditing the site.
Sean Roosen, President and CEO of Osisko, stated: "The Company is very pleased that we have been able to attract this highly experienced group of mining professionals to assist in the progression of our Canadian Malartic project towards feasibility. The combination of BBA's strong team and their prior close working relationship with Osisko's new mine development team, along with Golder's experience and in-depth familiarity with Malartic, should add up to a close-knit group that has a proven track-record of working very well in the past in the feasibility, development, commissioning and mining stages of other successful large open pit gold mines. We anticipate these newly awarded contracts will help accelerate our feasibility study and subsequent project development of the Canadian Malartic Project."
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling campaign on the property. An updated NI 43-101 complaint, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report is available on SEDAR.
For more information, please contact
Osisko Exploration Ltd.
John Burzynski
Vice-President Corporate Development
514-735-7131 www.osisko.com
or
Daniel Boase
Investor Relations
416-742-5600
Toll Free: 1-866-580-8891gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Osisko drills 158.1 m averaging 2.29 g/t Au at Malartic
2007-09-11 17:15 ET - News Release
Mr. Robert Wares reports
OSISKO INTERSECTS 158 METRES AVERAGING 2.29 G/T AU AT CANADIAN MALARTIC
Osisko Exploration Ltd. has released new results from the 30-metre-by-30-metre infill drilling program at its 100-per-cent-owned Canadian Malartic gold property. Highlights from holes CM07-999 through to CM07-1100 are summarized below and include intersections that were either longer or better grade than expected, as well as new mineralized intersections in areas where barren rock was anticipated. All other results from the infill program, including sterilization holes immediately outside the deposit, are in line with expectations and continue to confirm the integrity of the geological and grade model for the deposit.
Intercepts that produced better-than-anticipated results include 158.1 m averaging 2.29 grams per tonne Au (CM07-999), 47.8 m averaging 3.04 g/t Au (CM07-1055) and 277.0 m averaging 1.22 g/t Au (CM07-1091). Details from nine selected holes are in the attached table.
Hole No. Section From (m) To (m) Length (m) Au g/t
CM07-1055 3642E 18.2 66.0 47.8 3.04
including 31.0 49.5 18.5 5.53
and 130.5 235.0 104.5 1.20
CM07-1056 3730E 182.0 211.4 29.4 3.58
CM07-1060 3702E 128.1 256.5 128.4 1.29
CM07-1065 3580E 58.5 218.5 160.0 1.95
including 83.5 106.0 22.5 8.06
and 242.0 302.4 60.4 0.70
CM07-1068 3674E 28.5 47.0 18.5 1.60
and 109.5 206.5 97.0 1.73
including 184.0 194.5 10.5 12.46
CM07-1073 3642E 5.5 59.0 53.5 2.26
including 11.5 15.8 4.3 17.10
and 83.5 164.0 80.5 2.45
including 127.0 130.0 3.0 25.46
CM07-1091 3502E 2.5 279.5 277.0 1.22
New drill intercepts from areas that were not known to contain mineralization include 36.2 m averaging 3.14 g/t Au (CM07-1019) and 48.5 m averaging 3.01 g/t Au (CM07-1094). Details from the seven holes that intersected new mineralization are in the attached table.
Hole No. Section From (m) To (m) Length (m) Au g/t
CM07-1019 3380E 89.0 125.2 36.2 3.14
CM07-1034 3350E 8.5 26.5 18.0 2.57
and 54.5 72.5 18.0 2.81
and 87.5 134.0 46.5 1.08
Drill holes CM07-1019 and -1034 are located west of the P zone and data now suggest that this zone plunges to the southwest. Drill hole CM07-1046 is a western extension of the F zone mineralization. Drill hole CM07 -1094 represents a depth extension to known mineralization, whereas drill holes CM07-1096, -1097 and -1100 represent new mineralized extensions in the area of the Gilbert zone.
Following a review of the 30-by-30 metre infill drill program, the company has elected to increase the current program from 150,000 metres to a total of 185,000 metres. The infill program is designed to collect data for a measured and indicated (M&I) resource estimate on the main portion of the deposit between lines 3140E and 4580E. This represents a distance of 1,440 metres, which is 77 per cent of the known 1,860-metre length of the deposit. The infill program has been increased in order to better define the higher grade envelope (greater than one g/t Au) in the core of the deposit, increase accuracy of the underground stope model and include the extension of the deposit between the Gilbert zone and section 4580E. As a result of the increased infill program, Osisko now plans to release the M&I resource estimate in second quarter 2008.
The Canadian Malartic gold deposit is still open to the southeast between lines 4400E and 4760E. Osisko is currently drill testing the southeastern extension to the Gouldie zone, located 700 metres southeast of the deposit. Eleven drill rigs are currently active on the property, and an additional four rigs will be added to the program by mid-October.
All NQ core assays were conducted using standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Que. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays.
Robert Wares, PGeo, and executive vice-president of Osisko, is the qualified person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Osisko Exploration Ltd. (TSX VENTURE: OSK)(FRANKFURT: EWX) is pleased to announce that it has completed the acquisition of the East Malartic Mill Complex located in Malartic, Quebec.
The East Malartic Mill, last operated by Barrick Gold Corporation in 2002, has been on "care and maintenance" since the termination of processing of ore from the former Bousquet Mine in the same year. At that time the complex had a milling capacity of up to 3,000 tonnes per day. The mill equipment was professionally placed in a stand-by state at the time of closure so that the mill could be restarted with minimal rehabilitation work. Osisko acquired the mill complex from the Government of Quebec and the town of Malartic under a private sale agreement and is now 100% owner of the mill complex and all ancillary buildings on the site. The company is currently using the former East Malartic administrative offices as its Canadian Malartic project headquarters.
Osisko has no current plans to rehabilitate and restart the current mill. The company, however, will review all possible options regarding its integration and potential uses for the currently developing Canadian Malartic project. In late 2006 Osisko signed a purchase agreement for the procurement of a new 38 foot SAG mill and two 24 foot ball mills with rated daily capacity of between 25,000 to 40,000 tonnes per day. This new equipment is scheduled for delivery to the Canadian Malartic site in early 2009.
Sean Roosen, President and CEO of Osisko stated: "The completion of the acquisition of the East Malartic Mill Complex is another significant step for Osisko, as it allows us to move forward with full use of the former mine site. The facility was left in excellent shape and we have already been able to put the administrative buildings to very good use for the rapidly expanding team at Malartic. Our new Vice President of Mining and Construction, Luc Lessard, and his team will be evaluating the potential uses of the milling equipment as we feel that this acquisition may have significant additional benefits for the company."
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding property. An updated NI 43-101 complaint, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report is available on SEDAR.
Contacts: Osisko Exploration Ltd. John Burzynski Vice-President Corporate Development 514-735-7131 www.osisko.com Daniel Boase Investor Relations 416-742-5600 Toll Free: 1-866-580-8891
SOURCE: Osisko Exploration Ltd.
http://www.osisko.com
Copyright 2007 Market Wire, All rights reserved.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Mann o Mann die legen ein Tempo vor............die entsprechenden Kursreaktionen werden kommen! garantiert
habe die letzte News auch mal in Deutsch; die kleinere Mühle kann/wird schon ab 2008 in Produktion gehen können.............wäre ein Megaknaller; die Übernahmephantasie wächst; zumal Osisko im Vergleich stark unterbewertet ist
Osisko erwirbt Mühlenkomplex East Malartic
Die Mühle East Malartic, die zuletzt im Jahr 2002 von Barrick Gold Corporation betrieben wurde, befand sich seit dem Abschluss der Verarbeitung des Erzes aus der Mine Bousquet im selben Jahr in "Wartung und Pflege". Damals hatte der Komplex eine Verarbeitungskapazität von bis zu 3.000 Tonnen pro Tag. Das Mühlenequipment wurde zum Zeitpunkt der Schließung betriebsbereit aufgestellt, damit die Mühle ohne große Mühe wieder gestartet werden konnte. Osisko erwarb den Mühlenkomplex von der Regierung von Quebec und der Stadt Malartic im Rahmen eines privaten Verkaufsabkommens und ist nun zu 100% Besitzer des Mühlenkomplexes und aller Nebengebäude an diesem Standort. Das Unternehmen verwendet zurzeit das ehemalige Verwaltungsbüro von East Malartic als Hauptquartier des Projektes Canadian Malartic.
Osisko hat im Moment noch keine Pläne, die aktuelle Mühle wieder in Betrieb zu nehmen. Das Unternehmen wird jedoch sämtliche möglichen Option hinsichtlich ihrer Eingliederung und ihres potenziellen Nutzens für das Projekt Canadian Malartic, das zurzeit erschlossen wird, überprüfen. Ende 2006 unterzeichnete Osisko ein Kaufabkommen für die Beschaffung einer neuen 38 Fuß SAG-Mühle und zwei 24 Fuß Kugelmühlen mit einer Kapazität von 25.000 bis 40.000 Tonnen pro Tag. Dieses neue Equipment soll Anfang 2009 am Standort Canadian Malartic eintreffen.
Sean Roosen, President und CEO von Osisko, sagte: "Der Erwerb des Mühlenkomplexes East Malartic ist für Osisko ein weiterer wichtiger Schritt, da wir somit durch die Verwendung der früheren Mine Fortschritte machen können. Die Einrichtung wurde in exzellentem Zustand zurückgelassen, und wir konnten bereits die Verwaltungsgebäude für das schnell wachsende Team bei Malartic nutzen. Unser neuer Vice President of Mining and Construction, Luc Lessard, und sein Team werden den potenziellen Nutzen des Mühlenequipments evaluieren, da wir der Ansicht sind, dass dieser Kauf dem Unternehmen große Vorteile bringen wird."
Osisko Exploration Ltd. evaluiert zurzeit die Goldlagerstätte Canadian Malartic sowie die angrenzenden Gebiete für einen umfangreichen Tagebaubetrieb mit tonnenweise Schüttgut. Das Unternehmen ist mit einem Barbestand von etwa $ 80 Millionen außerordentlich kapitalkräftig und führt zurzeit auf dem Grundstück ein intensives Definitionsbohrprogramm durch. Eine aktualisierte Inferred Goldressourcenschätzung gemäß NI 43-101 an der Hauptlagerstätte wurde am 5. Juli 2007 veröffentlicht; der vollständige Bericht ist auf SEDAR erhältlich.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
sehr gute Leute kommen dazu - Schrittchen für Schrittchen..........
Sep 20, 2007 17:18 ET
Osisko Corporate Update
MONTREAL, QUEBEC--(Marketwire - Sept. 20, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce the appointment of Dr. Serge Vezina to the Board of Directors. Dr. Vezina has more than 40 years of progressive experience in the mining industry and was, until his retirement in June 2006, Vice President of Industrial Engineering and Environment at Cambior Inc. Dr. Vezina is well known within the Canadian mining industry, following a long and distinguished career and having served on various industry associations and government committees, including a term as President of the Quebec Mining Association. He is still active within the mining industry as a consultant and as an adjunct professor at McGill University in Montreal and Laval University in Quebec City. Mr. Rene Branchaud will be resigning from the Board and will remain as legal counsel to the Company.
The Board of Directors of the Company has granted incentive stock options to Dr. Vezina to purchase up to 600,000 common shares of Osisko at a price of $5.46 per share for a period of three years ending September 20, 2010.
Osisko also wishes to announce that, subject to the final approval of the TSX Venture Exchange, the Board of Directors has approved an increase in the number of common shares reserved for issuance under its current stock option plan from 11,100,000 to 13,400,000 shares, as well as the granting of incentive stock options to employees to purchase up to 1,725,000 common shares of Osisko at a price of $5.46 per share for a period of five years ending September 20, 2012. This will bring the maximum percentage of stock options that can be granted to 9.9 per cent of the number of issued shares.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding property. An updated NI 43-101 compliant, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report is available on SEDAR.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
so, da haben wir es , das Umsiedlungsprogramm ist gestartet - diese Meldung iss Gold wert!!!
Oct 01, 2007 13:46 ET
Osisko Advances Community Relocation Plan
MONTREAL, QUEBEC--(Marketwire - Oct. 1, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce that it has entered into agreements to acquire strategic parcels of land in the Town of Malartic, in the new area targeted for the relocation program as outlined by urban planners working with the municipality and the Company. These purchase agreements will allow the Company to proceed with the next stage of planning of the relocation program, which will encompasse moving a number of residences and several institutional buildings from the southern portion of the town located within the area of influence of the planned future Canadian Malartic mine.
Since early 2006, Osisko has engaged in collaborative efforts with the residents, the Town of Malartic, and its professional advisors to identify the most desirable sector for the planning and development of the new neighbourhood. The current urban plan, as designed by consulting firms Devamco and Genivar, has 190 new lots scheduled for development. Furthermore, there is additional land available for future growth in the development area. Included in the program is the modification of a portion of the Malartic golf course to accommodate a new residential section along the northern part of the course.
The Company will begin the first phase of development of the new neighbourhood in October 2007, including the construction of infrastructure for the initial 23 lots. The Company has undertaken this first phase of the development program to demonstrate its commitment to ensuring the continued quality of life of the residents while advancing work towards final feasibility. This first phase of work represents an investment by Osisko of over $2 million towards community development, including acquisitions and development of new infrastructure. This budget will be expanded as the program advances.
Mr. Sean Roosen, President and Chief Executive Officer of Osisko, stated: "On behalf of the Company and the Board of Directors, I would like to take this opportunity to once again thank the residents of the Town of Malartic for their continued support of our project. We see this investment as an opportunity for Osisko to make a significant contribution to the community that will provide tangible long-term benefits to the town and local economy prior to the final feasibility. Osisko and the Town of Malartic have worked together to provide a well thought-out, viable and desirable relocation plan to the residents. It is our goal to make the Canadian Malartic project a significant contributor to the on-going development of the community of Malartic. We are very appreciative of the tremendous efforts and support of the Town Council, the Community Consultation Group and the urban planning and engineering professionals involved in the project. We are now at the point where we have a viable blueprint for relocation and are looking forward to breaking ground in the new neighbourhood."
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding properties. An updated NI 43-101 complaint, inferred gold resource estimate on the main deposit was released on July 5, 2007 and the full report is available on SEDAR.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
MONTREAL, QUEBEC – 1. Oktober 2007 - Osisko Exploration Ltd. (TSX VENTURE:OSK; FRANKFURT:EWX) freut
sich bekannt zu geben, dass es Abkommen bezüglich des Erwerbes von strategischen Landpaketen in der
Stadt Malartic, im neuen Gebiet des Umsiedelungsprogramms gemäß den Städteplanungsarbeiten der
Gemeinde und des Unternehmens, unterzeichnet hat. Diese Kaufabkommen ermöglichen es dem Unternehmen,
mit der nächsten Planungsphase des Umsiedelungsprogramms fortzufahren, bei der eine Reihe von
Wohnhäusern und mehrere institutionelle Gebäude vom südlichen Teil der Stadt im betroffenen Gebiet der
zukünftigen geplanten Mine Canadian Malartic umgesiedelt werden.
Seit Anfang 2006 bemühte sich Osisko um eine Zusammenarbeit mit den Bewohnern, der Stadt Malartic
und deren professionellen Beratern, um den besten Abschnitt für die Planung und Erschließung eines
neuen Wohngebietes zu identifizieren. Der aktuelle Städtebauplan, der von den Beratungsunternehmen
Devamco und Genivar erstellt wurde, plante 190 neue Grundstücke, die entwickelt werden sollen. Des
Weiteren steht zusätzliches Land für zukünftiges Wachstum im erschlossenen Gebiet zur Verfügung. Das
Programm umfasst die Modifizierung eines Teils des Goldplatzes von Malartic, um eine neue Wohngegend
entlang des nördlichen Teils des Parcours errichten zu können.
Das Unternehmen wird die erste Erschließungsphase der neuen Wohngegend im Oktober 2007 beginnen,
einschließlich der Errichtung einer Infrastruktur für die ersten 23 Grundstücke. Das Unternehmen
führte bereits die erste Phase des Erschließungsprogramms durch, um sein Engagement bei der
Sicherstellung der Lebensqualität der Bewohner zu unterstreichen, während die weiteren Arbeiten von der
endgültigen Machbarkeit abhängen. Diese erste Arbeitsphase bedeutet für Osisko eine Investition von
über $ 2 Millionen in die Gemeindeerschließung, einschließlich des Erwerbes und der Erschließung
einer neuen Infrastruktur. Dieses Budget wird erweitert, sobald das Programm fortschreitet.
Sean Roosen, President und CEO von Osisko, sagte: "Ich möchte diese Gelegenheit nutzen und im Namen
des Unternehmens und des Board of Directors den Bewohnern der Stadt Malartic erneut für ihre
kontinuierliche Unterstützung unseres Projektes danken. Für Osisko ist diese Investition eine Möglichkeit,
einen bedeutenden Beitrag zur Gemeinde zu leisten, der der Stadt und der lokalen Wirtschaft vor der
endgültigen Machbarkeit langfristige Vorteile bringen wird. Osisko und die Stadt Malartic arbeiteten
zusammen, um einen gut durchdachten, umsetzbaren und erstrebenswerten Umsiedelungsplan für die
Bewohner zu erstellen. Es ist unser Ziel, durch das Projekt Canadian Malartic einen wichtigen Beitrag
zur fortlaufenden Entwicklung der Gemeinde Malartic zu leisten. Wir wissen den enormen Einsatz und
die Unterstützung des Projektes durch den Stadtrat, die Community Consultation Group, die Städteplanung
und die professionellen Techniker sehr zu schätzen. Wir sind nun an einem Punkt angelangt, wo wir
einen machbaren Entwurf für eine Umsiedelung erstellt haben und freuen uns bereits auf die Errichtung
einer neuen Wohngegend."
Osisko Exploration Ltd. evaluiert zurzeit die Goldlagerstätte Canadian Malartic sowie die angrenzenden
Gebiete für einen umfangreichen Tagebaubetrieb mit tonnenweise Schüttgut. Das Unternehmen ist mit
einem Barbestand von etwa $ 80 Millionen außerordentlich kapitalkräftig und führt zurzeit auf dem
Grundstück ein intensives Definitionsbohrprogramm durch. Eine aktualisierte Inferred Goldressourcenschätzung
gemäß NI 43-101 an der Hauptlagerstätte wurde am 5. Juli 2007 veröffentlicht; der vollständige Bericht
ist auf SEDAR erhältlich.
Weitere Informationen über:
Mr. John Burzynski
Vice-President Corporate Development
Tel. +1 (514) 735-7131
Daniel Boase
Investor Relations
Gebührenfrei: +1-866-580-8891
www.osisko.comgemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Oct 23, 2007 08:57 ET Osisko Discovers Extension to Barnat Zone
MONTREAL, QUEBEC--(Marketwire - Oct. 23, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce that significant mineralization was intersected in DDH CM07-2008, collared 310 metres southeast of the South Barnat Zone. The overall intersection from 9.8 to 113.5 metres, including a barren zone from 49.9 to 71.7 metres, produced an average grade of 1.91 g/t Au over 103.7 metres. The new mineralized zone, hosted in a sequence of mineralized schistose carbonated ultramafic rocks and porphyry dykes, is open along strike to the east and contains intercepts of higher grade material, including 41.8 metres averaging 3.07 g/t Au:
--------------------------------------------------------------------Hole No. From (m) To (m) Length (m) Au g/tCM07-2008 9.8 49.9 40.1 1.73And 71.7 113.5 41.8 3.07including 71.7 77.4 5.7 12.37--------------------------------------------------------------------
The South Barnat Zone is located within the Cadillac fault zone, 1200 metres northeast of the center of the Canadian Malartic deposit. The South Barnat Zone was investigated by Osisko with a series of holes drilled in 2006 (see Osisko press release of August 9, 2006) in which higher grade porphyry-hosted mineralization was intersected in five holes spanning a strike length of 230 metres. Results from those drill holes are again tabled below for reference purposes:
The mineralized intersection in DDH CM07-2008 is very significant as it occurs along the southeastern strike extension of the South Barnat Zone where it joins an area located immediately north of the old East Malartic mine workings. This suggests potential for near surface mineralization in the South Barnat Zone along a total strike length of 540 metres and potential for further mineralization to the east along the north wall of the past-producing East Malartic mine.
The South Barnat zone is one of several significant exploration targets currently being tested by Osisko in the Malartic camp. Drilling is ongoing in the Southeastern Extension of the Canadian Malartic deposit towards the Gouldie Zone, and the next priority target to be tested in November 2007 is the Western Porphyry Zone, located within the Cadillac fault zone approximately 1000 metres northwest of the Canadian Malartic deposit. The latter is a high priority target with a 1200 metre strike length (see August 27, 2008 press release) hosting potential for a large, low grade, porphyry-hosted gold system similar to that of the F Zone porphyry at Canadian Malartic. Other targets, such as further extensions to the South Barnat Zone, will be in drill tested in Q1 2008.
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling and exploration campaign. An updated NI 43-101 compliant, inferred gold resource estimate on the main Canadian Malartic deposit was released on July 5, 2007 and the full report is available on SEDAR.
Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
sie erwacht wirklich! endlich ....... aber es kann jetzt heftig nach oben gehen und gleich 2 sehr schöne News am Freitga Abend noch_
nummer 1:
Oct 26, 2007 14:18 ET Osisko Adds Fifteenth Drill Rig at Canadian Malartic - die Zahl muß man sich auf der Zunge zergehen lassen!
MONTREAL, QUEBEC--(Marketwire - Oct. 26, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce that it has increased drilling capacity and core production on its 100% owned Canadian Malartic gold project in Malartic, Quebec, adding three more core rigs to the project in the month of October. The Company currently has fifteen fully-crewed core drills working on the main deposit and commencing exploration drilling programs on targets in the immediate surroundings.
This newly added drill capacity will allow Osisko to accelerate completion of the ongoing infill drill program by mid-Q1 2008, in anticipation of a Q2 2008 conversion of the main deposit from Inferred to Measured and Indicated status. The additional drills also allow the Company to accelerate exploration drilling on several principal targets outside the main deposit.
Osisko completed over 82,000 metres of core drilling in 2005 - 2006, and is projecting it will complete a total of over 220,000 metres by the end of 2007. With the ability to now carry out at least 20,000 metres of core drilling per month, Osisko plans to aggressively pursue exploration targets over the next 12 months. Exploration drilling is currently ongoing in the Southeast Extension of the main deposit and the Gouldie Zone. New drill programs have been outlined for the recently identified Western Porphyry Zone as well as the South Barnat Zone, and these programs are expected to commence in the month of November 2007.
Sean Roosen, President and CEO of Osisko stated: "In one of the biggest exploration cycles the industry has ever seen, it is tribute to the project team that we now have assembled one of the largest drill fleets of any project in the world. With 12 rigs on site in September we were able to complete over 17,000 metres, bringing our year to date total to about 100,000 metres of NQ core. Our drilling capacity should now meet at least 20,000 metres per month, and this is going to help accelerate the pace of completion of the infill program leading to the Measured and Indicated calculation next spring."
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling and exploration campaign. An updated NI 43-101 compliant, inferred gold resource estimate on the main Canadian Malartic deposit was released on July 5, 2007 and the full report is available on SEDAR.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Oct 29, 2007 16:38 ET
Osisko Exploration Ltd. Announces C$75,075,000 "Bought Deal" Financing
TORONTO, ONTARIO--(Marketwire - Oct. 29, 2007) -
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Osisko Exploration Ltd. (TSX VENTURE:OSK) is pleased to announce that it has entered into an agreement with Westwind Partners Inc. as lead underwriter on behalf of a syndicate of underwriters (collectively, the "Underwriters") to purchase, on a bought deal private placement basis, 11,550,000 special warrants of the Company at a price of C$6.50 per special warrant, for aggregate gross proceeds of C$75,075,000. The Underwriters will arrange for purchasers of the special warrants. Each special warrant shall be automatically exercised for no additional consideration to acquire one unit in the capital of the Company, subject to adjustment in certain events, at 5:00pm (Toronto time) on the earliest of (a) the third business day after the date that a receipt is issued by the securities regulatory authorities in a jurisdiction of Canada for the Final Prospectus qualifying the units to be issued upon the exercise of the special warrants and (b) the date that is four months and one day following the closing date. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of C$7.90 for 24 months following completion of the offering.
The Underwriters will have the option to purchase up to an additional 7,700,000 special warrants at the issue price for a period of up to two days prior to closing for additional gross proceeds of up to C$50,050,000.
Osisko plans to use the net proceeds of this financing to fund the exploration and development of the Malartic project. The Underwriters shall receive compensation comprised of cash upon closing of the offering.
The offering is scheduled to close on or about November 15, 2007 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all the provinces of Canada, offshore including in the United Kingdom pursuant to applicable exemptions and in the United States on a private placement basis pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
(Montreal, November 13, 2007) Osisko Exploration Ltd. (OSK:TSX-V, EWX: Deutsche Boerse) is pleased to announce that has received the final approval of the Toronto Stock Exchange (TSX) to list the common shares of Osisko on the TSX. Osisko will have its common shares commence trading on the TSX on Thursday, November 15, 2007 under the symbol OSK. On commencement of exchange trading, Osisko's shares will be delisted and cease trading on the TSX Venture Exchange.
Sean Roosen, President and CEO of Osisko stated: “The move up to the TSX is an important milestone for Osisko as it progresses towards its goal of becoming a mid-tier gold producer with the development of the Canadian Malartic Project. The TSX is a premier global exchange for the mining industry and the TSX listing of Osisko should provide the company with improved liquidity, improved access to capital and broader market exposure”.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit in Quebec, as well as adjacent areas, for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $80 million on hand and is carrying out an aggressive definition drilling and exploration campaign. The Company expects to close the recently announced $75 milllion bought deal private placement on November 15, 2007.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Nov 14, 2007 08:43 ET Osisko Annouces Exercise of Underwriters' Option for C$50,050,000
MONTREAL, QUEBEC--(Marketwire - Nov. 14, 2007) - THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Osisko Exploration Ltd. (TSX VENTURE:OSK) is pleased to announce that, further to the "bought deal" private placement announced on October 29, 2007, the syndicate of underwriters led by Westwind Partners Inc. (the "Underwriters"), and including National Bank Financial Inc., RBC Capital Markets, BMO Capital Markets, Paradigm Capital Inc. and Pacific International Securities Inc., exercised their option to purchase an additional 7,700,000 special warrants at the issue price for additional gross proceeds of C$50,050,000.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of thisgemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
OSISKO CLOSES C$125 MILLION FINANCING
2007-11-15
(Montreal, November 15, 2007) Osisko Exploration Ltd. (TSX-V:OSK) is pleased to announce that it has closed its previously announced brokered private placement with a syndicate of underwriters led by Westwind Partners Inc. and including National Bank Financial Inc., RBC Capital Markets, BMO Capital Markets, Paradigm Capital Inc. and PI Financial Corp. (the “Underwriters”). Osisko issued a total of 19,250,000 Special Warrants at a price of C$6.50 per Special Warrant, for aggregate gross proceeds of C$125,125,000.
Each special warrant shall be automatically exercised for no additional consideration to acquire one unit in the capital of the Company, subject to adjustment in certain events, at 5:00pm (Toronto time) on the earliest of (a) the third business day after the date that a receipt is issued by the securities regulatory authorities in a jurisdiction of Canada for the Final Prospectus qualifying the units to be issued upon the exercise of the special warrants and (b) the date that is four months and one day following the closing date. Each unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company at a price of C$7.90 for 24 months following completion of the offering. Osisko will use the net proceeds of this financing to fund the exploration and development of the Canadian Malartic gold project.
Sean Roosen, President and CEO of Osisko, stated: “We are extremely pleased with the support that we have received during this financing and would like to thank all involved for their hard work. As a result of this support, our Company will have a very strong balance sheet with more than $200 million in cash resources, placing us in an excellent position to develop the Canadian Malartic gold project”.
The securities being offered have not, nor will they be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer for sale of securities in the United States.
All statements other than statements of historical fact included herein, including, without limitation, statements regarding future plans and objectives of the company, are forward-looking statements that involve various risks, assumptions, estimates and uncertainties. These forward-looking statements reflect the current internal projections, expectations or beliefs of the Company and are based on information currently available to the Company. There can be no assurance that such forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
OSISKO GEOCHEMICAL TEST WORK RETURNS POSITIVE RESULTS ON CANADIAN MALARTIC ORE
Osisko Exploration Ltd. has provided the results from geochemical analyses on four composite samples of gold mineralization from the Canadian Malartic deposit, which are currently undergoing metallurgical testwork at SGS Lakefield, located in Thunder Bay, Ont. The geochemical results indicate that mineralization at Canadian Malartic is devoid of undesirable contaminants, which is very positive from both a metallurgical and environmental point of view.
Four different samples (approximately 240 kilograms each) representing the four main ore types in the deposit were composited from 80 to 84 rejects selected from drill holes spanning the entire strike length of the deposit. Rejects were selected to approximate bulk average grade of the deposit (about 1.0 gram per tonne (g/t) Au).
Geochemical analyses on the composite samples in the "Geochemical analyses" table indicate that no deleterious elements are present in the deposit (arsenic, bismuth, cadmium, antimony), there are no significant base metals and only minor sulphur present in disseminated pyrite.
GEOCHEMICAL ANALYSES
Element K-CARB Silicified K-CARB Silicified
porphyry porphyry sediments sediments
Au (ppm) 1.10 1.10 1.13 1.08
Ag (ppm) 1.90 3.00 1.00 2.20
As (ppm) less than 30 less than 30 less than 30 less than 30
Bi (ppm) less than 20 less than 20 less than 20 less than 20
Cd (ppm) less than 2 less than 2 less than 2 less than 2
Sb (ppm) less than 10 less than 10 less than 10 less than 10
S (%) 1.02 1.14 1.19 1.96
Cu (ppm) 22 23 51 45
Mo (ppm) less than 5 5 less than 5 11
Pb (ppm) less than 30 less than 30 less than 30 less than 30
Zn (ppm) 43 57 74 80
K-CARB stands for potassic plus carbonate alteration, one part per million is
equal to one gram per tonne.
Metallurgical testwork is continuing and further results will be announced as they become available. Osisko Exploration is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The company is well financed with approximately $200-million on hand and is carrying out an aggressive definition drilling and exploration campaign. An updated National Instrument 43-101-compliant, inferred gold resource estimate on the main Canadian Malartic deposit was released on July 5, 2007, and the full report is available on SEDAR. Robert Wares, PGeo, and executive vice-president of Osisko, is the qualified person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
OSISKO REPORTS POSITIVE PHASE II METALLURGICAL TEST RESULTS
Osisko Exploration Ltd. has received positive phase II metallurgical results from its 100-per-cent-owned Canadian Malartic gold project. The phase II metallurgical program was designed to test direct whole ore cyanidation and cyanidation of flotation concentrate process to assess the gold recoveries of the Canadian Malartic orebody and to evaluate the optimum grind size for best economic gold recovery. Direct whole ore cyanidation reported recoveries from 80 per cent to 86 per cent on samples with a head grade representative of the Canadian Malartic orebody of one gram per tonne gold based on 80-per-cent, minus-200 mesh grind size. Flotation work indicates over 90-per-cent recovery of gold to the primary concentrate at a coarser grind size than the direct whole ore cyanidation route. Overall recovery is still pending.
Phase II metallurgical work regarding hardness and work index has confirmed numbers reported earlier in the National Instrument 43-101 report filed in January of 2007. The work index ranges from 12 to 16 kilowatt hours per ton. Canadian Malartic ore is considered to be abrasive and falls within the moderately hard category.
A phase III detailed metallurgical test program has now been initiated to optimize and fully evaluate the economic and environmental benefits of a flotation concentrate/cyanidation circuit, compared with a direct whole ore cyanidation circuit. The phase III testwork is specifically designed to evaluate the ability to increase throughput using the same grinding circuit equipment. This would reduce unit operation costs, resulting in lower operating costs and increased annual gold production. As both methods are providing robust recoveries, this more detailed test program will provide the economic basis for the final decision on the best recovery method for the Canadian Malartic process facility. Currently it is believed that both methods represent relatively similar capital costs. However, flotation does have advantages in terms of flexibility in handling more varied head grades and ore types. In addition, the flotation/cyanidation process route has potential to increase the production rate due to the benefit of being able to grind to a coarser size distribution.
The phase III detailed testwork should be completed by the end of the first quarter of 2008.
All testwork was carried out on composite samples prepared from fresh NQ core taken throughout the deposit, to provide representative quantities of all ore types and lithologies that would be encountered in potential mining.
Sean Roosen, president of Osisko, commented: "We are very encouraged by the positive results of the phase II work, which confirms the relatively simple metallurgical nature of the Canadian Malartic deposit. The phase III detailed testwork will help us better understand the benefits of a flotation circuit -- this is important to our shareholders and has ramifications beyond the Canadian Malartic deposit. It could provide us with added flexibility to deal with other deposits we may discover on the property, without major changes to the mill or additional capex in the future."
The metallurgical testwork for the Osisko Canadian Malartic project has been supervised and reviewed by David Runnels, PEng, of BBA Inc., who is a qualified person as defined by National Instrument 43-101gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
bei aktuell 16 aktiven Rig´s auf dem Feld,
20.000 Bohrmeter / Monat aktuell !!!!!!
2 fast nur noch für Osisko arbeitenden Labore
und dem anstehenden Weihnachtsfest, rechne
ich in der nächsten Woche eigentlich schon noch mit ein
paar Geschenken ala Bohrergebnisse! gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
auch ohne "Geschenke" sehr guter Jahresendspurt!!!
zeigt die Richtung in die es 2008 geht! gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Jan 25, 2008 07:53 ET Osisko Widens Extension at South Barnat Zone
MONTREAL, QUEBEC--(Marketwire - Jan. 25, 2008) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce that new mineralization has been intersected in DDH CM07-2030, a scissor hole collared 135 metres south of previously reported DDH CM07-2008, where significant mineralization was intersected in an extension to the South Barnat Zone (see October 23, 2007 press release). The new hole (DDH CM07-2030) intersected 1.89 g/t Au over 111.2 metres. It was inclined 50 degrees to the north towards DDH CM07-2008 (which was inclined 45 degrees to the south), along the same section. The table below outlines detailed intercepts from both holes:
---------------------------------------------------------------------Hole No. From (m) To (m) Length (m) Au g/t---------------------------------------------------------------------CM07-2030 56.5 167.7 111.2 1.89--------------------------------------------------------------------- including 129.0 132.0 3.0 6.96--------------------------------------------------------------------- including 163.0 167.7 4.7 7.15---------------------------------------------------------------------CM07-2008(i) 9.8 113.5 103.7 1.91--------------------------------------------------------------------- including 71.7 77.4 5.7 12.37---------------------------------------------------------------------(i) previously reported
These two holes define a vertical cross-section in which mineralization is located to the north and south of the old Barnat and East Malartic mine workings, largely along the southern edge of the Cadillac fault. The gold mineralization is hosted both in silicified greywackes of the Pontiac Group south of the fault contact and in schistose, carbonated ultramafic rocks and porphyry dykes to the north of the fault contact. The mineralized section defined by these holes occurs along the southeastern strike extension of the South Barnat Zone (initially drill defined by Osisko in 2006 with a series of 5 holes over a strike length of 230 metres). The new drill intersections and further compilation of historical data suggest a true mineralized width of approximately 100 metres along this new extension, and the current minimum strike length of the South Barnat Zone is now 600 metres. Gold mineralization in the South Barnat Zone remains open at depth and to the east along the north and south walls of the past-producing East Malartic mine.
The South Barnat Zone is a separate mineralized zone located approximately 1200 metres northeast of the center of the Canadian Malartic deposit. These significant new results have prompted Osisko management to initiate a definition drill program along the South Barnat zone on 25 metre section spacings. Detailed design of the program and void modeling of the South Barnat, as well as portion of the East Malartic mine workings, will begin immediately. The new program is estimated to comprise a minimum of 50,000 metres of core drilling.
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign. An updated NI 43-101 compliant, inferred gold resource estimate on the main Canadian Malartic deposit was released on July 5, 2007 and the full report is available on SEDAR.
Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Feb 07, 2008 08:02 ET Osisko Intersects 151 Metres Averaging 2.10 g/t Au at Canadian Malartic
MONTREAL, QUEBEC--(Marketwire - Feb. 7, 2008) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce new results from the 30m x 30m infill drilling program at its 100%-owned Canadian Malartic gold property. Highlights from holes CM07-1101 through to CM07-1250 are summarized below and include intersections that were either longer or better grade than expected from the resource model, as well as new mineralized intersections in areas where barren rock was anticipated. All other results from the infill program, including sterilization holes immediately outside the deposit, are in line with expectations and continue to confirm the integrity of the resource model for the deposit.
Intercepts that produced better-than-anticipated results include 150.9 m averaging 2.10 g/t Au (CM07-1144) and 184.0 m averaging 1.27 g/t Au (CM07-1160). Details from seven selected holes are tabled below:
Hole No. Section From (m) To (m) Length (m) Au g/t
CM07-1109 3580E 216.5 278.5 62.0 1.48 And 302.5 468.5 166.0 0.66CM07-1118 3580E 13.0 168.4 155.4 1.15CM07-1125 4215E 164.5 323.4 158.9 0.97CM07-1140 3610E 36.4 331.6 295.2 0.84 including 91.0 140.0 49.0 1.71CM07-1144 3820E 136.1 287.5 150.9 2.10 including 243.5 279.0 35.5 4.66CM07-1160 3610E 32.0 216.0 184.0 1.27 including 121.4 157.5 36.1 2.38CM07-1161 3610E 47.0 69.5 22.5 3.52 including 65.1 69.5 4.4 10.9
New drill intercepts from areas that were not known to contain mineralization include 43.2 m averaging 2.62 g/t Au (CM07-1112) and 32.5 m averaging 1.41 g/t Au (CM07-1204). Details from the nine holes that intersected new mineralization are tabled below:
Hole No. Section From (m) To (m) Length (m) Au g/t
CM07-1112 3260E 45.3 88.5 43.2 2.62 And 262.0 303.5 41.5 1.36CM07-1126 3230E 52.0 62.0 10.0 1.59 And 113.3 128.0 14.7 0.50 And 150.5 183.5 33.0 1.07CM07-1129 3230E 29.0 35.0 6.0 4.80 And 90.0 105.0 15.0 0.99 And 164.5 190.0 25.5 1.28CM07-1133 3230E 23.5 31.0 7.5 6.49CM07-1135 3200E 74.5 115.0 40.5 0.53CM07-1146 4185E 103.0 146.6 43.6 0.80 And 179.5 228.5 49.0 1.03CM07-1204 3702E 20.0 52.5 32.5 1.41CM07-1242 4430E 307.5 346.0 38.5 1.08CM07-1245 4060E 11.7 37.0 25.3 1.09
Drill holes CM07-1112, -1126, -1129, -1133 and -1135 constitute a western extension to the F zone mineralization. Drill hole CM07 -1242 represents a depth extension to known mineralization, whereas drill holes CM07-1146, -1204 and -1245 represent new mineralized shoots in the south-central portion of the deposit.
The 30 x 30 metre infill drill program is designed to collect data for a NI 43-101 compliant Measured and Indicated ("M&I") resource estimate on the main portion of the deposit between lines 3140E and 4580E. This represents a distance of 1440 metres, which is 77% of the known 1860 metre length of the deposit. Drilling for this infill program has now been completed and core is being logged, sampled and analyzed. Osisko plans to release the M&I resource estimate on this portion of the deposit in Q2 2008. The 30 x 30 metre infill drill program is slated to continue to line 5000E during the remainder of Q1 and during Q2 2008.
All NQ core assays were conducted using standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding property. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Feb 11, 2008 08:00 ET Osisko Reports Phase Two Metallurgical Results
MONTREAL, QUEBEC--(Marketwire - Feb. 11, 2008) - Osisko Exploration Ltd. (TSX:OSK)(FRANKFURT:EWX) is pleased to report the following results on the Phase II metallurgical program from its 100% owned Canadian Malartic gold project. Overall recovery from 86 individual leach tests of the direct whole ore cyanidation process is confirmed at an average of 84% from composite samples representing the main lithologies of the deposit, each with approximately 1.1 g/t Au head grade and prepared to 80% minus 200 mesh grind size.
Flotation work that had indicated good recovery of gold to the primary concentrate for some lithologies did not perform well enough on the overall mill feed material. Direct whole ore cyanidation processing has demonstrated superior recoveries and therefore no further work will be carried out on the flotation route.
The metallurgical test program is now moving to Phase III for optimization. Leach tests will be repeated at various grind size fractions and leach times in order to confirm optimum recovery conditions. Phase III also includes additional work including simulation to confirm the various possibilities regarding the grinding circuit arrangement. This will provide the economic basis for the final decision on the capacity and best operating conditions for the Canadian Malartic process facility.
The Phase III detailed test work should be completed by the end of Q1 2008 as originally planned. A Phase IV test program will extend to Q2 2008 and will aim to fine-tune reagent consumption and confirm the homogeneity of metallurgical results throughout the deposit at various ore grades and material location. The results of the above testing programs will establish the process design criteria for the Feasibility Study to be released at the end of Q3 2008.
Furthermore, preliminary economic assessments based on 84% recovery indicate more favorable project economics at a production rate of 50,000 to 55,000 tonnes per day (tpd) or minimum 18 million tonnes per annum. This will result in an increased annual gold production and will be beneficial to the project in reducing unit operation costs and significantly increasing revenue. A third ball mill and additional leach tanks will be acquired to increase the tonnage from the original project criteria of 40,000 tpd. Based on initial discussions with suppliers, the delivery dates for the additional mill and leach tanks will not affect the overall project schedule.
Sean Roosen, President and CEO of Osisko, commented: "This metallurgical work is the foundation for another significant milestone in the development of the Canadian Malartic project. The increase in production rate is entirely manageable within the project time frame given that Osisko has already secured the bulk of the milling equipment. Osisko has signed firm contracts with Metso Minerals, ABB, FLSmidth Minerals and General Electric Canada to purchase a 38 foot SAG mill, two 24 foot ball mills, a gyratory crusher and all electrical drive equipment. Osisko expects first deliveries in Q2 2009 and already has $21 million invested into this equipment, which is part of the project capitalization. The bold actions we took in 2006 to secure our long lead items and lock in prices are now paying off for our shareholders as we have cost and delivery date protection on these crucial items."
All metallurgical test work is being carried out by SGS Lakefield Research on composite samples prepared from fresh NQ core taken throughout the deposit to provide representative combination of all ore types and lithologies that will be encountered in the actual mining operation.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign. A 43-101 Preliminary Economic Assessment report on the project is scheduled to be released at the end of Q1 2008.
Mr. Denis Cimon, Eng. M.Sc. and Manager of Mineral Processing for Osisko, is the Qualified Person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
IRW-PRESS: Osisko: Osisko meldet Ergebnisse des metallurgischen Phase-II-Programms Osisko meldet Ergebnisse des metallurgischen Phase-II-Programms
MONTREAL, QUEBEC 11.
Februar 2008 - Osisko Exploration Ltd. (TSX VENTURE: OSK; FRANKFURT: EWX) freut sich, die folgenden Ergebnisse des metallurgischen Phase-II-Programms auf dem Goldgrundstück Canadian Malartic, das sich zu 100% in seinem Besitz befindet, bekannt zu geben. Die gesamte Gewinnung von 86 individuellen Laugungstests des direkten Gesamterz-Cyanidationsprozesses wird bei einem Durchschnitt von 84% der Mischproben bestätigt, welche die Hauptlithologien der Lagerstätte darstellen, von denen jede einen Gehalt von etwa 1,1 g/t Au aufweist und bis zu 80% minus 200 Mesh-Größe aufbereitet wurde.
Die Flotationsarbeiten, die bei einigen Lithologien auf eine gute Gewinnung von Gold zu einem primären Konzentrat hindeuteten, erwiesen sich jedoch nicht als gut genug für das gesamte Mühlenmaterial. Die direkte Gesamterz-Cyanidationsverarbeitung wies eine hohe Gewinnung auf, weshalb auf dem Flotationsweg keine weiteren Arbeiten mehr durchgeführt werden.
Das metallurgische Testprogramm gelangt nun zur weiteren Optimierung in die Phase III. Laugungstests werden in mehreren Brüchen unterschiedlicher Größe und Laugungszeit wiederholt, um die optimalen Gewinnungsbedingungen zu bestätigen. Phase III beinhaltet auch zusätzliche Arbeiten, wie etwa die Simulation zur Bestätigung der unterschiedlichen Möglichkeiten bezüglich der Anordnung des Mahlkreislaufs. Diese werden die wirtschaftliche Grundlage für eine endgültige Entscheidung hinsichtlich der Kapazität und der besten Betriebsbedingungen für die Verarbeitungsanlage bei Canadian Malartic darstellen.
Die detaillierten Testarbeiten von Phase III sollten wie ursprünglich geplant bis zum Ende des ersten Quartals 2008 abgeschlossen sein. Ein Phase-IV-Testprogramm wird sich bis in das zweite Quartal 2008 erstrecken und soll den Reagenzverbrauch einstellen und die Homogenität der metallurgischen Ergebnisse der gesamten Lagerstätte bei unterschiedlichen Erzgehalten und Materialstandorten bestätigen. Die Ergebnisse der oben genannten Testprogramme werden die Kriterien der Prozessplanung für die Machbarkeitsstudie festlegen, die Ende des dritten Quartals 2008 veröffentlicht wird. Des Weiteren weisen vorläufige wirtschaftliche Evaluierungen, die auf einer Gewinnung von 84% basieren, auf günstigere Wirtschaftsdaten des Projektes bei einer Produktionsrate von 50.000 bis 55.000 Tonnen pro Tag (tpd) oder mindestens 18 Millionen Tonnen pro Jahr hin. Dies wird zu einer gesteigerten jährlichen Goldproduktion führen und sich günstig auf das Projekt auswirken, da die Betriebskosten gesenkt und der Gewinn somit erhöht wird. Ein dritte Kugelmühle und zusätzliche Laugungstanks werden erworben, um die Tonnage des ursprünglichen Projektkriteriums von 40.000 tpd weiter zu steigern. Ersten Gesprächen mit Lieferanten zufolge haben die Lieferzeiten für die zusätzliche Mühle und Laugungstanks keinen Einfluss auf den Zeitplan des Projektes.
Sean Roosen, President und CEO von Osisko, sagte: Diese metallurgischen Arbeiten stellen die Grundlage für einen weiteren bedeutenden Meilenstein bei der Erschließung des Projektes Canadian Malartic dar. Die Steigerung der Produktionsrate ist zur Gänze mit dem Zeitrahmen des Projektes vereinbar, da sich Osisko bereits einen Großteil des Verarbeitungsequipments gesichert hat. Osisko unterzeichnete Verträge mit Metso Minerals, ABB, FLSmidth Minerals und General Electric Canada, um eine SAG-Mühle mit 38 Fuß, zwei Kugelmühlen mit 24 Fuß, einen Rotationsbrecher und sämtliches elektrisches Steuerequipment zu erwerben. Osisko erwartet die ersten Lieferungen im zweiten Quartal 2009 und investierte als Teil der Projektkapitalisierung bereits $ 21 Millionen in dieses Equipment. Diese Tätigkeiten wurden im Jahr 2006 durchgeführt, um unsere Führungsrolle zu festigen; die Festschreibung der Preise macht sich nun für unsere Aktionäre bezahlt, da wir den Schutz der Kosten und des Lieferdatums dieser wichtigen Geräte sichergestellt haben.
Sämtliche metallurgischen Testarbeiten werden von SGS Lakefield Research anhand von Mischproben durchgeführt, die vom frischen NQ-Kern aufbereitet wurden, der auf der gesamten Lagerstätte entnommen wurde, um eine repräsentative Kombination aller Erzarten und Lithologien zu liefern, die in der tatsächlichen Minenanlage gefunden werden.
Osisko Exploration Ltd. evaluiert zurzeit die Goldlagerstätte Canadian Malartic sowie die angrenzenden Gebiete für einen umfangreichen Tagebaubetrieb mit enormen Tonnagen. Das Unternehmen ist mit einem Barbestand von etwa $ 180 Millionen außerordentlich kapitalkräftig und führt auf dem Grundstück zurzeit intensive Definitionsbohrungen sowie ein Explorationsprogramm durch. Die Veröffentlichung einer vorläufigen Bewertung und wirtschaftlichen Evaluierung des Projektes ist für Ende des ersten Quartals 2008 geplant.
Denis Cimon, Eng. M.SC. und Manager of Mineral Processing von Osisko, ist die qualifizierte Person, die für die technischen Informationen dieser Pressemitteilung verantwortlich ist.
Für weitere Informationen kontaktieren Sie bitte:
Mr. John Burzynski
Vice-President Corporate Development
Tel.: +1 (514) 735-7131
oder
Daniel Boase, Anlegerbetreuung
Tel.:. +1 (416) 742-5600
Gebührenfrei: +1-866-580-8891
Webseite: www.osisko.com
Für die Richtigkeit der Übersetzung wird keine Haftung übernommen! Bitte Englische Originalmeldung beachten!
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11.02.08 11:11 DGAP-News: trading-house.net AG - Monday Report (deutsch) dpa-AFXgemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Mar 10, 2008 14:31 ET Osisko Signs $20 Million Unsecured Debt Financing
MONTREAL, QUEBEC--(Marketwire - March 10, 2008) - Osisko Exploration Ltd. (TSX:OSK)(FRANKFURT:EWX) is pleased to announce that it has entered into an agreement with Solidarity Fund QFL (the Fund) to obtain a $20 million unsecured debt financing for a seven-year term. The debt will carry 9.5% interest, payable in shares or cash prior to commercial production, and in cash thereafter. Principal will be repaid in a minimum of 48 equal installments commencing the earlier of commercial production or 36 months from closing.
The Company will also grant the Fund 1,100,000 warrants exercisable within 60 months at a price of $7.46. The Company may accelerate the exercise of warrants if Osisko's shares trade at a significant premium to the exercise price during the term of the warrants.
The transaction is subject to the completion of due diligence and customary documentation, and is expected to close prior to the end of the first quarter of 2008.
Sean Roosen, President & CEO of Osisko, commented: "We are very pleased with the Fund's financial participation in the Canadian Malartic Project. It is a strong vote of confidence on their part in the viability of our project."
Gaetan Morin, Executive Vice-President-Investments of the Fund, commented: "The Solidarity Fund QFL is proud to support Osisko in the development of the Canadian Malartic gold project located in Abitibi. Our investment will allow Osisko to acquire some equipment necessary for a mine start-up in late 2010, which will create up to 400 jobs in the region. This world class project will contribute significantly to the Abitibi economy, and demonstrates the strong mineral potential of Quebec."
About Osisko
Osisko Exploration Ltee is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign on the Canadian Malartic deposit and surrounding properties.
About the Solidarity Fund QFL
With net assets of over $7.4 billion as at November 30, 2007, the Solidarity Fund QFL is a development capital company that, through its RRSP, channels the savings of Quebecers into investments in all sectors of the economy to help create and maintain jobs and to further Quebec's economic growth. The Fund is a partner, either directly or through its network members, in 1,696 companies. It currently has more than 575,000 shareholders and has helped, on its own or with other financial partners, to create, maintain and protect over 122,000 jobs. For more information, visit www.fondsftq.comgemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Mar 26, 2008 10:41 ET Osisko Confirms New Bulk Tonnage Gold Target in Western Porphyry Zone
Drill results include 166.5 metres averaging 1.01 g/t Au
MONTREAL, QUEBEC--(Marketwire - March 26, 2008) - Osisko Exploration Ltd. (TSX:OSK)(FRANKFURT:EWX) is pleased to announce results from an initial ten hole, 3600 metre drill program on the Amphi property, located immediately northwest of and contiguous to Osisko's 100%-owned Canadian Malartic gold property. Drilling was focused on the Western Porphyry Zone, located approximately 2 km northwest of the center of the Canadian Malartic deposit. The program tested a porphyry intrusion along 1200 metres of strike length on sections spaced 200 metres apart. Significant results included 1.01g/t Au over 166.5m (from 32.5m - 199.0m) in hole EA08-2011, which also included a higher grade intercept of 6.12 g/t Au over 7.5m. All reported holes are oriented southwest or northeast, perpendicular to regional fabric and are inclined 50 degrees. Significant results are summarized in the table below:
Mineralization consists of fine disseminated/stockwork pyrite and gold in potassic and/or carbonate-altered porphyry and mafic/ultramafic volcanics. The porphyry mineralization is similar to that of the F Zone of the Canadian Malartic deposit. Occasional higher grade intersections (greater than 4 g/t Au) are related to classic Abitibi vein-type mineralization cutting the host lithologies.
This initial program suggests the Western Porphyry Zone is constrained to a block 400 to 500 m long, 200 to 250 metres wide and 100 to 150 metres deep. The encouraging initial results indicate this block hosts potential for additional near-surface low-grade gold resources amenable to open-pit mining. Further drilling will be conducted on a 100 metre grid spacing between sections WP 100E and WP 600E.
Drill hole EA07-2009 (which tested section WP 00E) and drill holes EA07-2015 to EA07-2018 (which tested sections WP 800E and WP 1000E) did not return significant intersections. Previously reported drill hole CM07-1011 intersected 238.3m averaging 0.64g/t Au on section WP 1200E (see press release dated August 27, 2007). This hole is currently interpreted to represent the western limit of a separate mineralized zone (distinct from the Western Porphyry Zone) identified by historic drilling under the town of Malartic.
Sean Roosen, President and CEO of Osisko, commented: "Osisko has spent the last twelve months focusing on the infill drilling to upgrade our resource on the Canadian Malartic deposit to the measured and indicated category, which we expect to see by mid-summer. As Osisko nears completion of the infill program, the drilling at Malartic is now shifting to exploration. The positive early results from Western Porphyry, in addition to what we have already reported from South Barnat, suggest there is excellent potential to add new ounces. We're just getting started in 2008, and it's already looking like we'll have an exciting year on the exploration front."
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.4 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $180 million on hand and is carrying out an aggressive definition drilling and exploration campaign. An updated NI 43-101 compliant inferred gold resource estimate on the main Canadian Malartic deposit was released on July 5, 2007 and the full report is available on SEDAR.
Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
Mar 28, 2008 17:35 ET Osisko to Release Results of Scoping Study and Hold Conference Call Monday March 31stMONTREAL, QUEBEC--(Marketwire - March 28, 2008) - Osisko Exploration Ltd. (TSX:OSK)(FRANKFURT:EWX) is pleased to announce that the Preliminary Assessment Study on the Canadian Malartic gold project has been completed. The results of the Study will be released prior to the TSX market open on Monday March 31st. Osisko Management will subsequently host a conference call at 10:00 a.m. eastern standard time.
To join Monday's call, interested parties should dial one of the following numbers:
International and Toronto area: 416-850-9144
North American toll free: 1-866-400-3310
An operator will direct participants to the call.gemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
OSISKO TABLES PRELIMINARY ASSESSMENT STUDY ON CANADIAN MALARTIC PROJECT
Osisko Exploration Ltd. has released results of the preliminary assessment study of its 100-per-cent-owned Canadian Malartic gold project located in Malartic, Que. The study was compiled by BBA Inc., with the collaboration of RSG Global Consulting, G Mining Services, Genivar, Golder Associates and the Osisko Technical Group. Osisko released its current inferred resource of 8.4 million ounces of gold in mid-2007 (see July 5, 2007, news in Stockwatch). For the purposes of this preliminary assessment study, only in-pit inferred resources between surface and a vertical depth of 400 metres were considered. A gold price of $775 per ounce was assumed for the financial analysis, and current market prices for all materials were applied. All dollar amounts presented in this press release are expressed in United States dollars. An exchange rate of 1.10 was used with respect to Canadian expenditures.
Results of the study are highly encouraging and Osisko is continuing to work toward definitive feasibility on the Canadian Malartic project, expected to be delivered by year-end. The study shows that over the first three years of production, Canadian Malartic will average 572,000 ounces of gold per year at an average head grade of 1.05 grams per tonne (g/t) Au and with cash costs averaging $314 per ounce (including royalties). Over the first three years, the operation would generate pretax cash flow of $731-million. Over a projected 14-year mine life, the current deposit would produce an average of 457,800 ounces of gold per year at an average cash cost of $381 per ounce (including royalties), generating pretax operating cash flow of $2.58-billion, with over $1-billion pretax cash flow generated in the first five years of production. The study shows an internal rate of return (using a 5-per-cent discount rate) of 22.2 per cent and possible payback period of 39 months.
SUMMARY HIGHLIGHTS OF THE STUDY
Estimated mined gold (oz) 7,794,000 (Whittle pit constrained)
Estimated net
recoverable gold (oz) 6,547,000 (based on 84% recovery)
Average annual gold
production (oz) 457,800 (572,000 -- year 1 to 3)
Cash cost per ounce
Before royalties $369 ($301 -- year 1 to 3)
With royalties $381 ($314 -- year 1 to 3)
Initial investment (CAPEX) $760,000,000
CAPEX per ounce $116
Sustaining capital $59,000,000
Closure costs $52,000,000
Operating cash flow pretax $2,582,000,000
IRR -- pretax
(5 per cent discount) 22.2%
Payback 39 months
Mine life 14.3 years
Capital expenditures are estimated at $760-million (which includes contingency of $72.6-million), giving the project a capital expenditure per recoverable ounce of $116, within current industry norms for the best gold projects in the world. Osisko has already paid approximately $30-million toward capital expenditures in the form of capital equipment purchases (milling equipment) and the relocation plan (home and land purchases and initial sector 7 development), leaving remaining capital investment requirement of the project at approximately $733-million (including contingency of $72.6-million). It is also estimated that only 15 per cent of operating costs will be diesel purchases, limiting the project exposure to rising oil prices.
Sean Roosen, president and chief executive officer of Osisko, commented: "We are very pleased with the positive results of our preliminary assessment study. Canadian Malartic continues to demonstrate that it is a solid world-class gold project in what the 2007 Fraser Institute survey indicates is the best mining jurisdiction in the world. At $116 per ounce of construction and development costs, we are in line with other similar-sized projects globally. While our capital outlay estimate reflects the increased cost pressure that all new projects have been facing in the current market environment, we believe that our early call in procuring our SAG mill, initial two ball mills and other ancillary equipment minimizes the impact of the inflation experienced by our industry. We are now moving forward quickly toward our goal of making Osisko the next premium intermediate gold producer, with no legacy issues and very limited exposure to either geopolitical or energy cost volatility.
"The study shows that on its own, the main deposit provides strong returns in the current environment. It will be the foundation for further growth of the company through the drill definition of new resources on the company's current targets, potential new discoveries in other areas on its large land position, and the possibility of new acquisitions within trucking distance from its proposed mill site.
"Over the next 12 to 18 months, we will be drill defining several of its near-surface mineralized zones that have the potential to provide higher-grade resources for blending opportunities and increased early debt paydown, such as the South Barnat zone. We will also look at deeper targets as we have only really explored to depths of 400 metres to date."
Location
The Canadian Malartic project is located 25 kilometres west of Val d'Or in the rich gold mining district between Val d'Or and Cadillac. The project is easily accessible by road being located near highway 117 and is serviced by a railway. Electrical power is easily accessible with the project being located within nine kilometres from Hydro-Quebec's electrical power grid. The region also benefits from a strong contractor and supplier base to the mining industry and an experienced mining work force. The greater Malartic area produced some 8.7 million ounces of gold during the period ranging from 1938 to 1983.
The company has entered into commitments on many long lead items and has received firm quotations which it expects to execute within the next 30 days for total purchases of $200-million. Accordingly, no contingency has been applied to those purchases. A contingency provision of 15 per cent has been estimated on the remaining project outlays. The level of accuracy of the capital investment estimate is plus or minus 25 per cent.
The investment program is scheduled over a two-year period. Sustaining capital is estimated at $59-million and mainly for additional mining equipment. Closure cost provisions amount to $52-million.
Mining
The preliminary mining plan has been established using the inferred resources calculated by RSG Global Consulting Pty. Ltd. An open-pit optimization was performed using Whittle software, which is based on the Lerchs-Grossmann algorithm. The pit optimization resulted in an estimated mining resource conversion rate of 92 per cent relative to the published inferred resource.
SUMMARY OF THE ANNUAL MINING EXCAVATION PLAN
Period Ore mined Waste mined Total mined Stockpile reclaim Total moved
(kt) (kt) (kt) (kt) (kt)
The deposit will be mined by conventional open-pit mining methods using an initial fleet of 12- to 218-tonne haul trucks, two electric hydraulic shovels and various ancillary equipment to support the mining operations.
The mine production daily rate, including waste, is estimated at 120,000 tonnes per day. The ore-to-waste ratio is estimated at 1.16 to one. The pit design includes an interramp pit slope of 55 degrees.
Mining costs have been estimated at an average of $1.52 per tonne mined. Fuel price assumption is based on $83 per barrel of oil. The average annual fuel consumption is estimated at 28 million litres.
Mineral processing
The plant design is a conventional cyanidation and carbon-in-pulp plant with a nominal throughput capacity of 55,000 tonnes per day (20 million tonnes per year) based on 92-per-cent plant availability. Gold recovery is estimated at 84 per cent, based on an average head grade of 1.2 g/t Au for design criteria.
Grind is estimated at P80 equals 65 microns with an average leach time of 30 hours.
The design is based on numerous tests being conducted at various laboratories. Continuing optimization studies are currently under way.
In order to minimize the environmental impact of the project, the use of thickened tailings disposal technology has been selected. The actual proposed plan is to dispose of the tailings over the former East Malartic tailings area.
The mineral processing costs, including tailings operations and power, are estimated at $4.55 per tonne milled.
Operating costs
Total operating costs, including 60 cents per tonne for general and administration costs, are estimated at $8.43 per tonne milled or an average of $369 per ounce before royalties.
SUMMARY PER YEAR
(based on an average gold recovery of 84 per cent)
Year Tonnes Average Gold Cost/ounce Cost/ounce
milled grade production excluding including
(thousands) (g/t Au) (thousands royalties royalties
of ounces)
Under the base-case scenario at a gold price at $775 per ounce, the internal rate of return (IRR) is estimated at 22.2 per cent before taxes and is unleveraged.
SENSITIVITIES UNDER VARIOUS PRICE SCENARIOS
Gold price($) IRR (%) NPV at 5% discount(M$) NPV at 0% discount(M$)
The company has initiated discussions with financial institutions with respect to financing the project. The company currently has cash resources of approximately $160-million, and has invested $30-million as progress payments on capital expenditures. In addition, the company has negotiated a $20-million unsecured financing with the Solidarity Fund QFL, which is expected to close in early April.
Path forward
The company is working to complete the feasibility study and the environmental impact assessment by the end of the third quarter/early fourth quarter 2008. The infill drilling program at the Canadian Malartic property is scheduled for completion at the end of March, 2008, with full assay results being available in May. The measured and indicated resource estimate on the entire deposit is to be released in July, 2008. Subsequently, upon final pit design, a probable reserve calculation will be completed for definitive feasibility purposes.
Mr. Roosen noted: "We have an aggressive plan to move the Canadian Malartic project to production by the end of 2010. During the next six months, we will be focused on completing the definitive feasibility study, optimizing the capital program, operating plans and securing project financing."
Detailed report
The entire preliminary assessment study will be available as of April 1, 2008, at SEDAR and on the company's corporate website.
This preliminary assessment study is conceptual in nature as it is based on the inferred resource, which at this stage does not have a high-enough geostatistical level of confidence to provide the economic basis for a production decision. The company is completing its infill drilling program and additional study, which if positive, may advance the project to the definitive feasibility level.
Qualified person
The preliminary assessment study was prepared by BBA under the supervision of David Runnels, a registered professional engineer, an independent qualified person under the standards set forth by National Instrument 43-101. Luc Lessard, vice-president of engineering and construction for Osisko and a registered professional engineer, is the company's designated qualified person for the purposes of the study. Mr. Runnels and Mr. Lessard have reviewed and approved the contents of this press release.
Conference call
Osisko will host a conference call on Monday, March 31, at 10 a.m. ET, where senior management, the Osisko Technical Group and BBA representatives will discuss the study and will be available to respond to questions from analysts and investors. Those interested in participating in the conference call should dial in at 416-850-9144 (Toronto local and international), or 1-866-400-3310 (North American toll-free). An operator will direct participants to the call.
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Apr 17, 2008 08:57 ET Osisko Intersects Significant Gold Mineralization Over 800 Metres Strike Length at Jeffrey
Results include 54 metres averaging 1.25 g/t Au
MONTREAL, QUEBEC--(Marketwire - April 17, 2008) - Osisko Exploration Ltd. (TSX:OSK)(DEUTSCHE BOERSE:EWX) and Golden Valley Mines Ltd. (TSX VENTURE:GZZ) are pleased to announce results from a 2400 metre drill program on the Jeffrey Zone of the Malartic CHL property. The Jeffrey Zone is located at the southern extremity of the CHL porphyry intrusion, approximately 3.5 km east of the center of the Canadian Malartic deposit. This mineralized zone was tested with nine holes spaced 100 m apart along a total strike length of 800 metres. All holes in the Jeffrey Zone were oriented south, perpendicular to regional E-W fabric and were inclined 45 to 50 degrees. Significant near surface results include 53.9m averaging 1.25 g/t Au (hole CHL07-2022) and 40.5m averaging 1.39 g/t Au (hole CHL07-2021). Higher grade, deeper drilling results include 1.5m averaging 109.5 g/t Au (hole CHL07-2027) and 1.5m averaging 14.65 g/t Au (hole CHL07-2029). Results from the nine new holes are summarized in the table below:
Mineralization in the Jeffrey Zone consists of disseminated pyrite-gold in porphyry dykes and of narrower, higher grade mineralization in silicified porphyry or ultramafic schists. True widths are estimated at 70 to 80% of mineralized intersections. The zone remains open to the east and at depth.
Current structural interpretation indicates that the Jeffrey Zone and the Shaft Zone are located at the southern and northern extremities, respectively, of the CHL porphyry intrusion, which has been deformed into a Z-shaped body by sinistral strike-slip motion along the Cadillac Break. Initial drilling in the Shaft Zone by Osisko produced 8.4 metres averaging 8.82 g/t Au (see press release dated August 7, 2007). The geological model suggests potential for additional mineralization along dilation zones at the contact between the porphyry and the ultramafic schists, between the Jeffrey and Shaft Zones. Definition drilling on these zones will begin shortly, followed by reconnaissance drilling between the zones, aimed at testing the geological model.
Commenting on the new exploration results, Sean Roosen, President of Osisko stated: "We are very pleased with these latest drilling results on the Golden Valley joint-venture property. The Jeffrey and Shaft Zones demonstrate that the CHL property hosts significant potential to add to Osisko's resource balance sheet with both shallow, low-grade porphyry material as well as narrower, deeper, higher grade underground zones that could have a positive effect on the per-ounce mining and milling costs."
Osisko has the right to acquire a 70% interest in the Malartic CHL Property in consideration for $150,000 in cash payments over a four year period ($70,000 paid to date) and by completing a minimum $2,000,000 in exploration work over a four year period. Upon earning its 70% interest, Golden Valley will maintain a free-carried interest of 30% to production.
All NQ core assays reported above were obtained by standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.4 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays.
Osisko Exploration Ltd. is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The Company is well-funded with approximately $160 million on hand and is carrying out an aggressive definition drilling and exploration campaign. An updated NI 43-101 compliant inferred gold resource estimate on the main Canadian Malartic deposit was released on July 5, 2007 and the full report is available on SEDAR.
Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news releasegemäß § 34 WpHG dürfen die Autoren zu jederzeit Short- oder Long-Positionen in der/den behandelte(n) Aktie(n) halten. Bitte beachten Sie immer den Risikohinweis unter folgendem Link: Haftungsausschluß und Disclaimer
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