The regional exploration drilling is focusing on testing an inventory of gold-in-till anomalies with coincident geophysical (Induced Polarization) signatures defined during the fall 2015 till and winter 2016 geophysics programs.
The new mineralization is located approximately three kilometres west – southwest of the main Windfall deposit and is currently defined by two drill holes spaced approximately 700 metres apart.
DDH OBX-16-666 intersected 183.5 g/t Au over 0.3 metres and DDH OBX-16-652 intersected 12.7 g/t Au over 1.5 metres. DDH OBX-16-652 was collared 200 metres SE of an historical hole (1987) that returned 41.4 g/t Au over 0.7 metres.
The new holes underscore the strong potential for new gold mineralization on the Windfall Lake property, which has historically seen sparse detailed exploration.
OBX-16-652 targeted an Induced Polarization ("IP") anomaly, 3.3 km to the WSW of the Main Zone at Windfall. The drill hole intersected 12.72 g/t Au over 1.5 metres in a crustiform carbonate-quartz vein bearing similarity to high grade gold veins present in the Windfall Main Zone. The hole was located on a combined gold-in-till anomaly with an overlying IP anomaly.
OBX-16-666 tested another IP anomaly located 2.7 km WSW of the Main Zone at Windfall (700 metres to the ENE of OBX-16-652) and intersected a sheared quartz vein containing sights of visible gold, hosted in a silicified intrusion. The vein material returned 183.5 g/t Au over 0.3 metres.
OBX-16-665 was a failed hole abandoned at 21 metres depth, collared at the same location as OBX-16-666. Three additional holes (OBX-16-657, -659 and -661) were collared in a cluster located 280 m south of OBX-16-652 but did not return significant results.
Five other regional holes (OBX-16-637, -638, -641,-644 and -646) were drilled on a target located 8.3 km NE of the Windfall deposit but did not return significant results.
The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada.
The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled "Preliminary Economic Assessment of the Windfall Lake Gold Property, Quebec, Canada" with an effective date of April 28, 2015, prepared in accordance with NI 43-101).
The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long.
The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and down-plunge and at depth.
