(Kitco News) - Osisko Development (TSX.V: ODV) announced Thursday an initial open pit resource estimate for the Sapuchi, Golfo de Oro, California, High Life and Calvario deposits at its San Antonio project in Sonora State, Mexico.
The company said that Indicated Mineral Resource amounted to 576,000 ounces of gold and 1.37 million ounces of silver (14.9 million tonnes grading 1.2 g/t Au and 2.9 g/t Ag), while Inferred Mineral Resource amounted to 544,000 ounces of gold and 1.76 million ounces of silver (16.6 million tonnes grading 1.0 g/t Au and 3.3 g/t Ag).
Importantly, the company pointed out that additional drill targets remain underexplored on the property and new exploration drilling is recommended to verify historic data and potentially add new resource.
President Chris Lodder commented, “The addition of this new resource further strengthens our portfolio for near term advancement and towards possible production. Osisko Development has made considerable progress at San Antonio in the past year with the construction of the leach pad, near term processing of the stockpile and completion of a drill program to generate this initial resource. The company believes there is potential to add to the mineral resource through continued exploration and drilling on the property.”
Osisko Development is a gold development company focused on North America. The company advances the Cariboo gold project and other properties in the USA and Mexico, with the objective of becoming the next mid-tier gold producer.
