Osisko Mining Inc. announced that Windfall Mining Group, its 50% jointly owned partnership with a Gold Fields Limited subsidiary, has concluded a hydropower allocation agreement with Hydro-Québec.
The forecasted power demand and allocation for the electrical installation at the Windfall gold deposit is 27,400 kW, according to a release. Power will be delivered at the substation located in nearby Waswanipi, Quebec, then transported using a dedicated power line (under construction) to Windfall by Miyuukaa Corporation.
The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Windfall gold deposit is one of the highest-grade resource-stage gold projects in Canada and has world-class scale, according to a release.
“Receipt of the Windfall power allocation is a major milestone, as it will significantly reduce greenhouse gas emissions and project power costs. It is well aligned with our joint-venture ESG goals,” said John Burzynski, chairman and chief executive officer of Osisko.
Power line construction work is progressing on schedule, with the hook-up date anticipated in early 2024.
Osisko is a mineral exploration company focused on the acquisition, exploration and development of precious metal resource properties in Canada. Osisko holds a 50% interest in the high-grade Windfall gold deposit.
