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Osisko Intersects High Grade at Lynx

TORONTO, Dec. 18, 2019 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to provide new drilling results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.


The program is currently focused on the Lynx deposit, exploration on the main mineralized zones, and deep exploration in the central areas of the mineralized intrusive system. Twenty-two drills are active at Lynx and Triple Lynx, with another two drills conducting infill and exploration drilling on other areas of the deposit.


Osisko President and Chief Executive Officer John Burzynski commented: “Lynx and Triple Lynx continue to deliver strong results with infill drilling. We are seeing some wider intervals of high-grade material, which should have a very positive effect on the pending resource update.”


Significant new analytical results from 85 intercepts in 22 surface drill holes, 23 wedges and 2 extension focused on Lynx infill and expansion drilling are presented below. Additionally, 23 intercepts from 14 underground infill drill holes are included in the table below.


Intercepts from new results include: 248 g/t Au over 3.0 metres in OSK-19-1995; 337 g/t Au over 2.2 metres and 56.6 g/t Au over 4.2 metres in OSK-W-19-2120-W2; 174 g/t Au over 2.5 metres in OSK-W-19-2107-W1; 33.5 g/t Au over 10.5 metres in OSK-W-19-1166-W5; 104 g/t Au over 3.0 metres in OSK-W-19-2171; 24.9 g/t Au over 9.0 metres in OSK-W-19-2123-W1; 56.9 g/t Au over 3.8 metres in OSK-W-19-2139-W1; 35.0 g/t Au over 5.6 metres in OSK-W-19-2067-W2; 21.2 g/t Au over 5.5 metres in OSK-W-19-2139 and 54.4 g/t Au over 2.0 metres in WST-19-0249. Maps showing hole locations and full analytical results are available at www.osiskomining.com.


Surface Drilling


Hole No.From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
ZoneCorridor
OSK-W-17-8861066.01068.02.06.10 Triple LynxTriple Lynx
OSK-W-17-921544.7547.02.39.20 LynxLynx
OSK-W-18-1104-W1522.0524.02.04.56 Lynx_321Lynx
including 523.6524.00.422.7 
 532.3537.45.13.60 LynxLynx
including 537.1537.40.328.9 
OSK-W-19-1104-W2468.6471.02.44.55 Lynx_305Lynx
 including 469.7470.40.714.8 
 558.2560.62.46.08 Lynx_321Lynx
including 559.6560.61.014.6 
 826.0828.22.27.59 Lynx_313Lynx
including 827.2827.70.531.7 
 848.0850.52.54.00 Lynx_327Lynx
 853.3855.72.412.0 Lynx_327Lynx
including 855.3855.70.446.8 
 858.2862.64.44.54 Lynx_327Lynx
OSK-W-19-1104-W3777.0779.02.08.24 LynxLynx
including 777.6778.00.439.2 
OSK-W-19-1166-W5959.0964.75.74.92 Lynx_333Lynx
 974.9985.410.533.523.0Lynx_317Lynx
including 974.9975.80.9197100
and 984.6985.40.8130100  
 996.0998.22.28.05 Lynx_330Lynx
OSK-W-19-1169-W3948.0950.02.09.89 Lynx_333Lynx
OSK-W-19-1181-W11806.0808.92.93.11 LynxLynx
OSK-W-19-1193-W4912.0914.02.03.64 Lynx_314Lynx
including 912.8913.20.416.3 
OSK-W-19-1272-W2846.0848.02.033.6 Triple LynxTriple Lynx
including 847.0848.01.065.2 
OSK-W-19-1272-W3807.0809.02.07.73 Triple LynxTriple Lynx
 842.0856.614.66.15 Triple LynxTriple Lynx
including 854.5856.62.116.5 
 1140.31142.32.023.6 Triple LynxTriple Lynx
including 1140.91141.40.591.8 
OSK-W-19-1414-W8965.0969.14.16.60 Lynx_330Lynx
OSK-W-19-1731-W2877.0879.02.012.3 Lynx_313Lynx
OSK-W-19-1949-W31295.01297.02.010.8 Lynx 4Lynx
including 1295.51296.20.730.2 
OSK-W-19-1969305.0307.02.07.82 Lynx corridorLynx
including 306.0307.01.015.6 
OSK-W-19-1995133.3136.33.024835.0Lynx_335Lynx
including 135.3136.31.0740100
OSK-W-19-2026-W1932.2939.06.84.12 Triple LynxTriple Lynx
including 932.2932.60.422.3 
 1026.01028.92.94.88 Triple LynxTriple Lynx
including 1028.61028.90.322.0 
 1058.01064.06.03.92 Triple LynxTriple Lynx
including 1063.11063.40.316.6 
 1083.01085.12.16.74 Triple LynxTriple Lynx
including 1083.81084.10.337.3 
OSK-W-19-2067925.4927.72.312.6 Triple LynxTriple Lynx
including 927.2927.70.528.8 
 1058.11060.82.76.85 Triple LynxTriple Lynx
including 1060.41060.80.424.4 
OSK-W-19-2067-W2986.0991.65.635.033.2Triple LynxTriple Lynx
including 987.3988.20.9112100
OSK-W-19-2067-W31063.01065.02.05.09 Triple LynxTriple Lynx
 1078.01080.02.03.97 Triple LynxTriple Lynx
OSK-W-19-2075146.0149.13.13.75 Lynx_344Lynx
OSK-W-19-2081198.4201.43.016.1 Lynx_344Lynx
OSK-W-19-2100945.0953.08.09.23 Triple LynxTriple Lynx
including 945.0948.03.020.7 
OSK-W-19-2100-W2964.8967.02.23.15 Triple LynxTriple Lynx
 994.3997.12.811.2 Triple LynxTriple Lynx
including 995.0995.70.729.4 
OSK-W-19-2107-W1631.0633.02.04.13 Lynx 4Lynx
 639.0641.02.05.58 Lynx 4Lynx
including 639.7640.50.813.7 
 646.0648.02.04.65 Lynx 4Lynx
 733.0737.04.03.72 Triple LynxTriple Lynx
 782.0784.02.06.28 Triple LynxTriple Lynx
 890.5893.02.517456.6Triple LynxTriple Lynx
including 891.2892.00.8464100
OSK-W-19-2107-W2636.4639.02.65.19 Lynx 4Lynx
 779.0781.02.015.515.1Triple LynxTriple Lynx
including 779.5779.80.3103100
OSK-W-19-2108-W11352.61357.85.218.8 Triple LynxTriple Lynx
including 1355.31357.82.534.8 
OSK-W-19-2120-W21058.41060.42.028.5 Lynx 4Lynx
 1128.01132.24.256.635.9Lynx 4Lynx
including 1131.81132.20.4317100
 1201.41203.62.233760.0Lynx 4Lynx
including 1201.41202.71.3569100
 1209.51212.63.18.82 Lynx 4Lynx
including 1211.51212.00.523.2 
OSK-W-19-21231164.41167.02.69.97 Triple LynxTriple Lynx
 1197.01199.32.326.720.8Triple LynxTriple Lynx
including 1198.91199.30.4134100
 1203.01205.02.03.26 Triple LynxTriple Lynx
OSK-W-19-2123-W11048.01051.53.53.84 Triple LynxTriple Lynx
 1123.01125.02.08.72 Triple LynxTriple Lynx
including 1123.81124.40.627.9 
 1191.01194.03.05.19 Triple LynxTriple Lynx
 1217.01226.09.024.924.1Triple LynxTriple Lynx
including 1221.01222.31.380.374.7
and 1224.01225.01.071.4 
OSK-W-19-2133796.3798.82.537.0 LynxLynx
including 797.5798.40.979.7 
OSK-W-19-2133-W1887.0889.82.86.06 Lynx 4Lynx
OSK-W-19-2139909.7915.25.521.2 Triple LynxTriple Lynx
 918.2920.62.43.06 Triple LynxTriple Lynx
 1120.01122.12.127.515.4Triple LynxTriple Lynx
including 1121.51121.80.3185100
OSK-W-19-2139-W1898.8902.63.856.937.1Triple LynxTriple Lynx
 910.0912.22.28.46 Triple LynxTriple Lynx
including 910.0910.70.722.5 
OSK-W-19-2151671.3674.02.74.41 Lynx_320Lynx
including 671.3671.70.416.2 
 684.9689.04.16.48 Lynx_320Lynx
including 684.9685.40.529.4 
OSK-W-19-2154126.4128.42.07.18 Lynx_305Lynx
including 127.4127.70.346.8 
 174.0176.02.034.5 Lynx_310Lynx
including 174.3175.10.886.0 
OSK-W-19-2155522.9525.02.111.3 LynxLynx
including 523.4524.10.727.1 
 532.6535.12.59.00 LynxLynx
OSK-W-19-2160869.0871.22.24.50 Lynx_331Lynx
OSK-W-19-2161118.1120.12.010.4 Lynx_305Lynx
 151.7154.02.319.1 Lynx_307Lynx
including 153.6154.00.452.8 
OSK-W-19-2165142.2145.02.818.4 Lynx_310Lynx
including 143.2144.00.863.0 
OSK-W-19-2166177.1179.42.312.0 Lynx_307Lynx
including 177.1178.21.123.9 
OSK-W-19-2168443.7445.72.05.92 LynxLynx
including 445.0445.70.714.1 
OSK-W-19-2169596.6598.72.14.61 LynxLynx
OSK-W-19-2171167.0170.03.010439.4Lynx_307Lynx
including 168.5169.00.5488100
OSK-W-19-2172157.8161.53.77.86 Lynx_307Lynx
including 160.8161.50.723.5 
OSK-W-19-2176149.5153.74.24.69 Lynx_307Lynx
including 151.0151.60.614.9 
 158.5160.52.05.08 Lynx_307Lynx
OSK-W-19-2179104.0106.02.09.15 Lynx_305Lynx
including 104.9105.60.725.5 


Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below.


Underground Drilling


Hole No.From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
ZoneCorridor
WST-19-020167.670.02.415.0 Lynx_307Lynx
including 67.668.50.936.0 
 94.096.02.010.2 LynxLynx
including 94.895.10.366.7 
WST-19-021091.295.74.510.3 Lynx_307Lynx
including 91.292.21.024.7 
WST-19-023050.052.02.08.98 LynxLynx
including 50.051.01.017.8 
 70.072.02.013.7 Lynx_308Lynx
including 70.070.30.380.4 
WST-19-023169.071.62.65.17 Lynx_308Lynx
including 71.071.60.616.6 
WST-19-023266.068.02.010.5 Lynx_311Lynx
WST-19-023388.090.02.04.16 LynxLynx
WST-19-0236119.6121.92.38.63 Lynx_304Lynx
WST-19-023772.074.92.94.88 Lynx_308Lynx
including 74.674.90.326.5 
WST-19-02424.06.02.05.15 Lynx_310Lynx
including 4.05.01.010.1 
 10.012.02.08.15 LynxLynx
including 10.011.01.016.1 
 16.018.82.820.214.7Lynx_305Lynx
including 17.417.80.4139100
WST-19-024315.017.32.35.08 LynxLynx
including 16.516.80.333.9 
 46.248.22.010.1 Lynx_304Lynx
including 46.646.90.365.1 
WST-19-02467.09.02.05.02 Lynx_310Lynx
 12.515.02.55.05 LynxLynx
including 14.715.00.333.9 
 33.035.02.03.47 Lynx_305Lynx
including 34.735.00.321.8 
WST-19-02475.09.84.83.65 Lynx_310Lynx
including 9.59.80.322.2 
WST-19-024983.085.02.017.3 Lynx_308Lynx
including 83.884.20.480.8 
 88.090.52.53.73 Lynx_310Lynx
including 88.688.90.330.2 
 110.0112.02.054.432.8Lynx_305Lynx
including 110.4111.00.6172100
WST-19-025175.678.02.46.11 Lynx_308Lynx
including 76.376.80.525.2 


Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below.


Drill hole location


Hole NumberAzimuth
(°)
Dip
(°)
Length
(m)
UTM EUTM NElevationSection
OSK-W-17-886130-56119145346654355854103900
OSK-W-17-921331-5783445342854348653963525
OSK-W-18-1104-W1142-5060045338354354554023775
OSK-W-19-1104-W2142-5092745338354354554023775
OSK-W-19-1104-W3142-5083445338354354554023775
OSK-W-19-1166-W5132-59115545362154356384054050
OSK-W-19-1169-W3129-55126645333254354674063725
OSK-W-19-1181-W11133-58102545378954357904014275
OSK-W-19-1193-W4141-59106745380754357214004275
OSK-W-19-1272-W2127-60106445324654355354123675
OSK-W-19-1272-W3127-60116445324654355354123675
OSK-W-19-1414-W8133-57109245365654356454034100
OSK-W-19-1731-W2139-5199645338354355184093800
OSK-W-19-1949-W3105-57132645344054354794013825
OSK-W-19-1969164-5133645283254349474053025
OSK-W-19-1995336-5956445281854347753972950
OSK-W-19-2026-W1123-56115245321454356424143700
OSK-W-19-2067123-53121245324154356964153750
OSK-W-19-2067-W2123-53115945324154356964153750
OSK-W-19-2067-W3123-53122745324154356964153750
OSK-W-19-2075177-5028845294054350294113175
OSK-W-19-2081152-4729145283854350474073100
OSK-W-19-2100122-47111045309354357264193650
OSK-W-19-2100-W2122-47113445309354357264193650
OSK-W-19-2107-W123-70105945342654347783963475
OSK-W-19-2107-W223-7093245342654347783963475
OSK-W-19-2108-W1117-53150645321554358584143825
OSK-W-19-2120-W2114-60131745380054357474014275
OSK-W-19-2123126-57129345323154357744003775
OSK-W-19-2123-W1126-57130845323154357744003775
OSK-W-19-2133118-49105545308054355314173525
OSK-W-19-2133-W1118-4998745308054355314173525
OSK-W-19-2139115-52114945298054355494203450
OSK-W-19-2139-W1115-52115245298054355494203450
OSK-W-19-2151125-5683445342054355594103850
OSK-W-19-2154338-5222545317854349123973325
OSK-W-19-2155138-5190945321554355124103650
OSK-W-19-2160124-50103245308754355274043550
OSK-W-19-2161323-4518345317754349123973325
OSK-W-19-2165335-4816245317754348973973300
OSK-W-19-2166326-4822845317754348973973300
OSK-W-19-2168149-5653745345754353423993775
OSK-W-19-2169130-50126845321554355124103650
OSK-W-19-2171329-4520145317754348983973300
OSK-W-19-2172329-5320745314854349073983300
OSK-W-19-2176328-4819545314854349073983300
OSK-W-19-2179335-4521345314954349073983300
WST-19-0201162-813045317754351251743425
WST-19-02101872215745317654351251753425
WST-19-02301612015145321554351142243450
WST-19-02311611015445321554351142243450
WST-19-0232161-114845321554351142233450
WST-19-0233183129445321554351142243450
WST-19-0236150016945321654351142233450
WST-19-0237173229745321654351142243450
WST-19-0242119317245330754350632063500
WST-19-0243124426745330654350632063500
WST-19-0246143407345330654350632063500
WST-19-0247155337345330654350632053500
WST-19-02491342011545321754351152243450
WST-19-02511431715545321754351152243450

Lynx Zone
Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.


Triple Lynx Zone
Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.


Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko's Windfall Lake gold project, who is a "qualified person" as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").


Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d'Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control ("QA/QC") and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.


About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-d'Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below) and November 27, 2018 Lynx resource update, comprises 2,874,000 tonnes at 8.17 g/t Au (754,000 ounces) in the indicated mineral resource category and 10,352,000 tonnes at 7.11 g/t Au (2,366,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled "Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties" and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d'Or, Québec (the "Windfall Lake Technical Report") and the press release “Osisko Releases Mineral Resource Update for Lynx” dated November 27, 2018, which has been prepared by Osisko and reviewed and approved by Micon International, Ltd. from Toronto, Ontario. The Windfall Lake Technical Report and press release are available on Osisko's website at www.osiskomining.com and on SEDAR under Osisko's issuer profile at www.sedar.com. The Windfall Lake gold deposit is currently one of the highest-grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.


About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall Lake gold deposit located between Val-d'Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).


Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the significance of results from the new infill drilling and ongoing drill definition and expansion program at the Windfall Lake gold project; the significance of assay results presented in this news release; the deposit remaining open along strike and at depth; potential depth extensions of the mineralized zones down-plunge and at depth; the actual mineralization of local visible gold; the current drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be "forward-looking information". Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward- looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management's geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions. Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information, Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.


For further information please contact: John Burzynski
President and Chief Executive Officer Telephone: (416) 363-8653