Osisko previews Q4 2011 Canadian Malartic operating results

Osisko Mining Corporation has released a preview of Canadian Malartic operational results for the quarter ended 31 December, 2011.

Fourth quarter operating highlights include gold production of 79,718 ounces, total gold production of 200,137 ounces for first partial year 2011, and an increase in grade mined in the fourth quarter averaging 0.96 g/t Au.

The company also said recoveries continue to be higher than feasibility modeling at 88.3 percent for the fourth quarter. Crusher construction is 60 percent complete as of 31 December, and on schedule.

Sean Roosen, president and chief executive officer, commenting on the fourth quarter operating preview, said: “We saw steady increases in grade mined to average 0.96 g/t Au, which resulted in increased ounces produced in the fourth quarter. Recoveries also remain higher than anticipated in the feasibility study, averaging 88.3 percent over the past quarter. Construction of the pre-crush unit is progressing well and we anticipate its completion on schedule, which will allow us to achieve a strong operational year in 2012, our first full year of production.”

Osisko Mining Corporation operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties, including the Hammond Reef Gold Project in Northern Ontario.

Full operational and financial results for the fourth quarter 2011 will be made available on 23 February, 2012.