- Osisko (OSK) and Miyuukaa sign definitive agreement to transport hydroelectric power to Windfall Project
- The Windfall gold deposit is between Val-d’Or and Chibougamau in the Abitibi region
- Miyuukaa plans on financing, building, owning and operating the 69 kV dedicated transmission line
- Osisko will then pay service fees to Miyuukaa once everything has been established
- Both companies believe robust employment opportunities will follow after sustainably developing the infrastructure
- Osisko Mining (OSK) is down 1.22 per cent, trading at C$3.23 at 11:35 am EDT.
Osisko Mining (OSK) signs a definitive agreement with Miyuukaa regarding the Windfall Project.
The Windfall gold deposit is between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada.
The Cree First Nation of Waswanipi, has agreed to construct transmission facilities and transport hydroelectric power to the Windfall Project with Osisko.
The power line from the Waswanipi substation to Windfall is on 100 per cent CFNW traditional lands covered by the James Bay Northern Québec Agreement.
Windfall Project
Miyuukaa plans on financing, building, owning and operating the 69 kV dedicated transmission line that will transport hydroelectricity to the Windfall project.
Osisko will then pay service fees to Miyuukaa once everything has been established.
The agreement outlines the general and financial terms of the contract between Osisko and Miyuukaa, which is to ensure delivery of hydroelectricity over the life of the planned Windfall mill as required.
Construction work commenced during the first quarter of 2023 and is projected to take 12 months to complete, with the hook-up date anticipated in Q1 2024.
Both companies believe robust employment opportunities will follow after sustainably developing the infrastructure.
By implementing hydroelectric power in the final stages of exploration and throughout the planned construction, greenhouse gas emissions will be reduced.
The Windfall gold deposit is one of Canada’s highest-grade resource-stage gold projects.
Mineralization occurs in three site-specific areas: Lynx, Main, and Underdog.
Mineralization here generally consists of sub-vertical lenses following intrusive porphyry contacts plunging to the northeast.
Osisko is a mineral exploration company focused on acquiring, exploring, and developing precious metal resource properties in Canada.
Osisko Mining (OSK) is down 1.22 per cent, trading at C$3.23 at 11:35 am EDT.