Osisko Infill Drilling Returns High Grade at Lynx

2021-03-23 / @nasdaq

 

696 g/t Au Over 2.5 Metres in Triple Lynx

507 g/t Au Over 2.1 Metres in Lynx Main

TORONTO, March 23, 2021 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 99 intercepts in 50 drill holes (8 from surface, 22 from underground) and 20 wedges. The intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021).

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Today’s infill results in Lynx and Triple Lynx continue to deliver outstanding numbers as demonstrated with our two headline holes, each of which has a subinterval over 1 kilogram of gold per tonne. The infill program continues to confirm the superb high-grade areas found within the Lynx zones.”

Selected high-grade intercepts include: 696 g/t Au over 2.5 metres in WST-20-0613; 507 g/t Au over 2.1 metres in WST-20-0632; 133 g/t Au over 3.7 metres in WST-21-0622; 70.0 g/t Au over 6.0 metres in OSK-W-20-2375-W2; 148 g/t Au over 2.0 metres in OSK-W-20-2283-W5; 71.2 g/t Au over 4.1 metres in OSK-W-21-2369-W2; 120 g/t Au over 2.3 metres in WST-21-0648B, and 56.4 g/t Au over 4.0 metres in WST-21-0656. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole NumberFrom (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-20-2252-W11926.4929.22.85.83 TLX_3163Triple Lynx
OSK-W-20-2256-W8932.0944.412.48.56 TLX_3183
Triple Lynx
including935.8937.01.222.2 
 947.7954.06.35.56 TLX_3163
Triple Lynx
including948.4949.41.012.0 
and953.4954.00.613.1 
OSK-W-20-2271-W4757.7759.72.05.90 LXM_3304
Lynx
including759.2759.70.523.5 
OSK-W-20-2280-W6994.1997.53.415.7 TLX_3183
Triple Lynx
including994.1994.90.841.5 
 1021.91024.42.55.30 TLX_3164
Triple Lynx
including1022.71023.30.612.3 
 1085.61087.82.242.335.0TLX_3170
Triple Lynx
including1085.61086.20.3154100
OSK-W-20-2280-W7999.01001.02.078.439.1TLX_3163
Triple Lynx
including999.0999.60.6231100
OSK-W-20-2280-W91045.01047.02.09.03 TLX_3163Triple Lynx
 1100.01102.02.016.3 TLX_3170
Triple Lynx
including1100.71101.00.366.7 
OSK-W-20-2280-W10982.0986.34.39.60 TLX_3180
Triple Lynx
including983.3983.60.367.4 
and986.0986.30.339.4 
 1010.01012.02.08.40 Triple Lynx
Triple Lynx
including1011.31012.00.722.4 
 1014.01016.02.05.34 Triple LynxTriple Lynx
 1023.41026.83.47.49 TLX_3183
Triple Lynx
including1023.41024.00.619.6 
 1046.41048.42.03.59 TLX_3163
Triple Lynx
including1047.61048.40.88.18 
 1069.41071.42.05.56 TLX_3164Triple Lynx
 1101.01105.04.010.3 TLX_3170
Triple Lynx
including1104.01105.01.033.3 
OSK-W-20-2283-W3811.0813.32.39.66 TLX_3184
Triple Lynx
including811.7812.00.367.4 
OSK-W-20-2283-W5990.0992.02.014835.8TLX_3194

Triple Lynx
including990.0990.70.7421100
OSK-W-20-2283-W6969.0971.02.06.38 TLX_3193
Triple Lynx
including970.2970.60.431.1 
OSK-W-20-2283-W8810.4816.05.67.64 TLX_3171
Triple Lynx
including810.4811.00.625.8 
and814.4814.70.325.5 
 833.0835.02.04.18 TLX_3184Triple Lynx
 864.8867.02.230.4 TLX_3161
Triple Lynx
including865.4866.00.696.8 
 889.9892.02.13.84 TLX_3169
Triple Lynx
including890.2890.50.323.2 
 895.0897.02.06.94 TLX_3175
Triple Lynx
including895.0895.50.525.5 
 1122.91125.52.63.55 TLX_3176
Triple Lynx
including1122.91123.20.315.8 
OSK-W-20-2313-W8839.0841.02.03.69 TLX_3184
Triple Lynx
including839.5839.80.317.3 
OSK-W-20-2313-W9815.0817.12.13.27 TLX_3171Triple Lynx
 844.0846.42.432.519.5TLX_3184
Triple Lynx
including846.1846.40.3204100
 948.0950.52.53.77 TLX_3194Triple Lynx
 1006.51008.62.17.12 TLX_3195
Triple Lynx
including1007.21007.60.423.4 
OSK-W-20-2322-W31160.01162.02.016.4 LX4_3430
Lynx 4
including1160.41161.10.735.5 
OSK-W-20-2346958.4960.52.17.26 Lynx 4
Lynx
including958.9959.40.529.2 
 1013.21015.52.38.49 LX4_3429
Lynx 4
including1014.01014.70.727.5 
OSK-W-20-2363794.3796.32.08.59 Triple Lynx
Triple Lynx
including795.1795.60.534.2 
 946.5948.92.422.3 TLX_3195Triple Lynx
OSK-W-20-2369-W1654.0657.03.031.1 LXM_3304
Lynx
including655.0655.90.952.1 
 993.1995.22.18.73 LX4_3430Lynx 4
 1012.51015.02.522.3 Lynx 4
Lynx
including1012.51013.00.597.9 
OSK-W-20-2375931.8934.12.34.03 LX4_3437
Lynx 4
including931.8932.20.418.9 
OSK-W-20-2375-W2909.0911.02.03.58 LX4_3414Lynx 4
 926.8932.86.070.014.4LX4_3437
Lynx 4
including926.8927.40.6656100
OSK-W-20-2375-W4904.0906.32.33.53 Lynx 4
Lynx
including905.6905.90.319.7 
 910.0912.02.020.0 Lynx 4
Lynx
including911.5912.00.576.5 
OSK-W-20-23811182.51185.02.512.5 LX4_3449
Lynx 4
including1184.21185.00.832.0 
OSK-W-20-23841125.81127.92.115.7 LX4_3451
Lynx 4
including1127.51127.90.481.1 
OSK-W-20-2385785.0787.02.045.526.0LX4_3426
Lynx 4
including786.0786.50.5178100
OSK-W-20-2385-W1819.3821.42.139.219.6LX4_3414
Lynx 4
including819.6820.00.4203100
OSK-W-20-2385-W2799.0801.52.539.425.1LX4_3424
Lynx 4
including799.5799.90.4190100
OSK-W-20-2416866.7868.92.211.1 Triple LynxTriple Lynx
 911.0913.02.03.66 TLX_3161Triple Lynx
 923.0925.12.19.86 TLX_3161
Triple Lynx
including923.3923.80.538.9 
 960.0962.02.06.21 TLX_3163Triple Lynx
 1001.21004.02.86.38 TLX_3162
Triple Lynx
including1002.01003.01.015.9 
 1076.41079.02.64.90 Triple Lynx
Triple Lynx
including1077.21077.50.319.5 
OSK-W-20-2431587.9590.02.176.351.7TLX_3171
Triple Lynx
including588.2588.60.4229100
OSK-W-21-2369-W2675.0679.14.171.240.8LXM_3304
Lynx
including675.7677.01.3196100
WST-20-0522297.0300.03.04.42 LXSW_3556Lynx
 305.4307.52.124.419.9LXSW_3556
Lynx
including306.0306.30.3132100
 312.7315.02.33.70 LXSW_3556
Lynx
including312.7313.30.69.20 
WST-20-054352.054.02.010.3 LXM_3303
Lynx
including52.052.30.352.4 
 58.060.42.46.48 LXM_3303
Lynx
including58.058.70.720.4 
WST-20-0554295.2297.22.07.69 TLX_3131Triple Lynx
 353.9356.02.112.2 TLX_3166
Triple Lynx
including354.4354.90.541.2 
 490.8495.14.319.4 LX4_3450
Lynx 4
including490.8492.01.249.0 
WST-20-0574342.0344.02.030.2 LXSW_3556
Lynx
including343.0343.70.785.4 
 365.0367.32.33.15 LXSW_3556
Lynx
including366.5366.90.414.7 
WST-20-0591144.0146.22.223.7 LXM_3338
Lynx
including145.5146.20.743.2 
 167.1169.32.24.98 LXM_3304Lynx
WST-20-0592137.5139.52.04.67 LXM_3338
Lynx
including137.5138.00.517.2 
WST-20-0603297.0299.02.04.71 TLX_3166
Triple Lynx
including298.1298.50.422.8 
 476.0478.02.07.78 Lynx SW
Lynx SW
including476.8477.60.819.1 
WST-20-0608704.0706.12.16.11 LX4_3438
Lynx 4
including704.0704.90.913.7 
WST-20-0612247.1252.65.56.36 TLX_3161
Triple Lynx
including250.8251.10.320.2 
 295.5297.62.19.18 TLX_3163Triple Lynx
 311.0313.22.219.1 TLX_3164
Triple Lynx
including311.6312.20.666.5 
WST-20-0613237.8240.32.569643.4TLX_3161
Triple Lynx
including238.4239.00.62820100
 284.0286.02.04.18 TLX_3163Triple Lynx
 345.0347.12.13.56 TLX_3182Triple Lynx
 357.8360.52.73.94 TLX_3182Triple Lynx
 399.0401.32.349.144.4TLX_3188
Triple Lynx
including400.0400.50.5122100
WST-20-0615278.8280.82.026.215.9TLX_3166
Triple Lynx
including279.5279.80.3169100
WST-20-0618221.5223.62.173.549.5TLX_3161
Triple Lynx
including221.9222.91.0151100
WST-20-0624118.0120.02.09.10 LXM_3303
Lynx
including118.0118.80.821.9 
WST-20-0629102.0104.02.07.39 LXM_3334
Lynx
including102.5103.10.624.5 
WST-20-063096.098.02.03.85 LXM_3334
Lynx
including96.096.50.514.2 
 129.6134.24.65.18 LXM_3304
Lynx
including129.6130.00.426.7 
WST-20-0631128.0130.02.025.8 LXM_3304
Lynx
including128.0128.70.773.5 
 144.5146.52.04.51 LXM_3359
Lynx
including144.5145.10.614.6 
WST-20-0632123.8125.92.150736.0LXM_3334
Lynx
including124.9125.50.61750100
WST-20-0633152.8155.12.312.2 Lynx

Lynx
including152.8153.30.526.1 
WST-21-0614233.1236.83.739.529.6TLX_3161
Triple Lynx
including235.4235.90.5173100
 277.9280.22.313.7 TLX_3163
Triple Lynx
including278.8279.20.465.6 
WST-21-0622232.7236.43.713374.3TLX_3161Triple Lynx
WST-21-0648B313.5315.82.312043.7TLX_3166
Triple Lynx
including314.8315.81.0276100
WST-21-0656233.0237.04.056.432.2TLX_3161
Triple Lynx
including234.5235.10.6261100
 274.0276.02.05.97 TLX_3164Triple Lynx
 279.0281.02.014.5 TLX_3164
Triple Lynx
including279.6280.20.646.4 
 284.0286.22.23.16 TLX_3164Triple Lynx

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx and LXSW = Lynx Southwest.

Drill hole location

Hole NumberAzimuth (°)Dip (°)Length (m)UTM EUTM NElevationSection
OSK-W-20-2252-W11129-54119145324154356944153750
OSK-W-20-2256-W8125-51105645316054356864113675
OSK-W-20-2271-W4120-53113445346254356824103950
OSK-W-20-2280-W6127-58115245330454356394153775
OSK-W-20-2280-W7127-58113145330454356394153775
OSK-W-20-2280-W9127-58117645330454356394153775
OSK-W-20-2280-W10127-58118245330454356394153775
OSK-W-20-2283-W3135-50100445299754356074253500
OSK-W-20-2283-W5135-50104345299754356074253500
OSK-W-20-2283-W6135-50101345299754356074253500
OSK-W-20-2283-W8135-50123645299754356074253500
OSK-W-20-2313-W8134-52115245296554355834203450
OSK-W-20-2313-W9134-52121845296554355834203450
OSK-W-20-2322-W3130-54127445360854357154034075
OSK-W-20-2346130-53116145339754355574133825
OSK-W-20-2363139-52103145293054355484193425
OSK-W-20-2369-W1130-56119345342454355664103850
OSK-W-20-2375122-56116045381054357794004300
OSK-W-20-2375-W2122-5698745381054357794004300
OSK-W-20-2375-W4122-56100845381054357794004300
OSK-W-20-2381134-53123045362054357914024125
OSK-W-20-2384127-52124845339754355574133825
OSK-W-20-2385125-5487345368754356794014150
OSK-W-20-2385-W1125-5493745368754356794014150
OSK-W-20-2385-W2125-5491845368754356794014150
OSK-W-20-2416123-54112845316954356244123650
OSK-W-20-2431136-5784945300854353884123400
OSK-W-21-2369-W2130-5678845342454355664103850
WST-20-0522177-5245745310454350642313325
WST-20-0543150-4114445331554351651243575
WST-20-0554148-445624532575435209963525
WST-20-0574139-6352345295554350032533175
WST-20-0591136-352204532575435209963525
WST-20-0592137-262054532575435209963525
WST-20-0603161-5952545322754351251343475
WST-20-0608152-447604534185435305693725
WST-20-0612128-624324533575435273163650
WST-20-0613123-554424533585435273163650
WST-20-0615177-5851945322754351251343475
WST-20-0618181-632644535065435327-73800
WST-20-0624165-121484532565435209963525
WST-20-0629146-211754533215435235553600
WST-20-0630142-131664533215435235553600
WST-20-0631136-31664533225435235553600
WST-20-0632160-411724533215435235553600
WST-20-0633161-321714533215435235553600
WST-21-0614131-594274533575435273163650
WST-21-0622193-592704535065435326-73800
WST-21-0648B166-5934545322854351261353475
WST-21-0656139-613224533575435272163650

Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization 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.

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. NQ core assays 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, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (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 Acid Digestion-ICP-MS 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 the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (with an effective date of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 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 gold 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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 


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