Close
Mining News

Osisko Windfall Infill Drilling Intersects Some More Gold

TORONTO, Nov. 17, 2020 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.


Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to deliver on high-grade and width with consistency, as illustrated by today’s headline intercepts of 193 g/t Au over 2.3 metres and 75.7 g/t Au over 12.3 metres.”


The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 38 intercepts in 11 drill holes and 11 wedges.


Selected high-grade intercepts from the new results include: 75.7 g/t Au over 12.3 metres in OSK-W-20-2264; 193 g/t Au over 2.3 metres in OSK-W-20-2133-W3; and 37.6 g/t Au over 2.0 metres in OSK-W-20-2275-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com


Hole No.From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-20-2133-W2901.3903.52.29.27 Lynx_331

Lynx

including901.7902.00.359.4 
OSK-W-20-2133-W3791.2793.52.319341.7Triple Lynx

Triple Lynx

including792.7793.10.4972100
 874.8877.02.29.52 Triple Lynx

Triple Lynx

including875.8876.30.532.5 
 931.1933.22.18.05 Triple Lynx

Triple Lynx

including932.7933.20.520.2 
OSK-W-20-2139-W11882.9885.02.18.33 Lynx_361Triple Lynx
 896.3898.62.313.6 Lynx_361

Triple Lynx

including896.3896.60.335.3 
 912.2914.42.24.36 Lynx_363

Triple Lynx

including914.0914.40.413.7 
 954.0956.02.07.91 Lynx_369

Triple Lynx

including954.5955.20.720.4 
OSK-W-20-2256-W5892.1894.12.04.85 Lynx_368Triple Lynx
OSK-W-20-2264766.5778.812.375.721Lynx_334



Lynx



including773.8774.40.61085100
and774.4775.30.9190100
OSK-W-20-2275-W3669.5672.32.811.8 Triple Lynx

Triple Lynx

including669.5670.20.746.5 
 776.7781.04.39.73 Lynx_376Triple Lynx
 807.5809.52.037.615.5Triple LynxTriple Lynx
including807.5807.80.3247100  
OSK-W-20-2280-W21012.21014.92.77.72 Lynx_368Triple Lynx
 1073.61075.62.013.9 Lynx_364

Triple Lynx

including1074.21074.90.735.9 
 1083.01086.03.09.71 Lynx_364Triple Lynx
 1113.41115.42.04.29 Lynx_370

Triple Lynx

including1113.71114.00.319.1 
OSK-W-20-2280-W31011.01013.02.09.31 Lynx_368Triple Lynx
 1075.01078.03.010.1 Lynx_364Triple Lynx
OSK-W-20-2283-W1553.9556.02.17.37 Lynx_365

Triple Lynx

including554.5555.30.816.7 
 794.5797.73.222.1 Triple LynxTriple Lynx
 818.0822.04.06.80 Triple LynxTriple Lynx
OSK-W-20-2292-W3817.0819.02.04.11 Lynx_361Triple Lynx
OSK-W-20-2295-W2885.7888.02.34.53 Triple LynxTriple Lynx
OSK-W-20-2295-W3890.7892.72.012.7 Triple Lynx

Triple Lynx

including891.7892.20.545.2 
WST-20-0404109.1111.12.05.90 Lynx_304

Lynx

including110.4111.10.716.0 
 137.5139.62.16.17 Lynx_321Lynx
WST-20-0407178.4180.52.14.24 Lynx_315Lynx
WST-20-042566.670.53.97.09 Lynx_311

Lynx

including66.667.61.016.5 
 109.0111.32.33.55 Lynx_304Lynx
WST-20-048398.0100.02.04.93 Lynx_304

Lynx

including98.498.70.324.1 
WST-20-048789.091.52.56.87 Lynx_304

Lynx

including91.191.50.436.4 
WST-20-0494164.4166.42.010.8 Lynx_301

Lynx

including165.2165.50.364.8 
WST-20-0495119.0121.02.06.89 Lynx_304

Lynx

including120.6121.00.420.8 
 131.2133.52.33.67 Lynx_321

Lynx

including133.1133.50.416.9 
WST-20-0498108.0110.02.03.23 Lynx_320

Lynx

including108.5109.00.512.9 
WST-20-049956.058.22.216.5 Lynx_311

Lynx

including57.057.40.483.5 
WST-20-050056.158.42.310.2 Lynx_311

Lynx

including57.057.40.443.0 


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-20-2133-W2118-49113945308054355314173525
OSK-W-20-2133-W3118-4996545308054355314173525
OSK-W-20-2139-W11115-5299545298054355494203450
OSK-W-20-2256-W5125-51102245316054356864143675
OSK-W-20-2264292-74111945412754350623964225
OSK-W-20-2275-W3127-49105045288654355844093400
OSK-W-20-2280-W2127-58121145330454356394153775
OSK-W-20-2280-W3127-58119145330454356394153775
OSK-W-20-2283-W1135-50103545299754356074253500
OSK-W-20-2292-W3125-5494345303754355634203525
OSK-W-20-2295-W2132-5196345293854354724153375
OSK-W-20-2295-W3132-5196945293854354724153375
WST-20-0404163-419245349354352861173775
WST-20-0407106920245349554352881183775
WST-20-04251611816645335854352081563625
WST-20-0483170219345344954352641163725
WST-20-0487140-517745335854352081553625
WST-20-0494124018945349554352881173775
WST-20-0495165218445349554352881173775
WST-20-0498132-1116945322854351261363475
WST-20-0499131-2116345322854351261353475
WST-20-0500139-3016645322854351261353475


Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.


Triple Lynx
Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. 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 a four acids digestion -MS61 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 Gold Deposit
The Windfall gold deposit is located between Val-d'Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020)and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited ("Micon") and BBA Inc ("BBA")in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation's issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 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 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 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. Any statement that involves 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", "potential", "feasibility", "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 news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. 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 and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; 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.


CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653