Osisko Infill Drilling Returns High Grade at Windfall

2020-10-08 / @nasdaq

 

TORONTO, Oct. 08, 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: “Infill drilling is progressing very well, daily increasing our confidence in the continuity and prevalence of high-grade mineralization at Windfall. Today’s infill results contain 18 intercepts with uncut average grades of over half an ounce per tonne, including the spectacular 22.3 g/t Au over 15.9 metres, showing that Lynx not only has grade but can also deliver width.”

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 67 intercepts in 26 drill holes and 8 wedges.

Selected high-grade intercepts from the new results include: 314 g/t Au over 3.0 metres in OSK-W-20-2260-W1; 22.3 g/t Au over 15.9 metres in OSK-W-20-2139-W10; 33.6 g/t Au over 9.8 metres in OSK-W-20-2280-W1; 127 g/t Au over 2.3 metres in OSK-W-20-2256; 97.8 g/t Au over 2.5 metres in OSK-W-20-2292-W1; and 53.4 g/t Au over 2.1 metres in OSK-W-20-2252-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole No.From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-20-2139-W10899.0914.915.922.3 Lynx_371

Triple Lynx

including907.1907.60.580.2 
 941.9944.02.117.4 Lynx_363Triple Lynx
OSK-W-20-2197-W2780.0782.02.010.1 Lynx_363

Triple Lynx

including780.8781.70.922.1 
OSK-W-20-2252-W2826.0828.02.04.03 Lynx_371Triple Lynx
 833.0835.02.04.41 Lynx_371Triple Lynx
OSK-W-20-2252-W4880.5882.62.153.433.2Lynx_371

Triple Lynx

including882.0882.60.6171100
 889.0892.03.03.24 Lynx_361Triple Lynx
 902.0904.02.041.5 Lynx_361

Triple Lynx

including903.0904.01.082.1 
OSK-W-20-2256852.8855.02.244.419.7Lynx_371

Triple Lynx

including853.2853.60.4236100
 881.1883.42.312751.1Lynx_361

Triple Lynx

including882.2882.80.6390100
 894.0896.22.24.63 Lynx_361Triple Lynx
 898.0900.02.011.3 Lynx_361Triple Lynx
 978.9982.94.04.44 Lynx_369

Triple Lynx

including982.2982.90.710.5 
OSK-W-20-2256-W4930.0934.04.05.63 Lynx_364Triple Lynx
 963.0965.02.019.3 Lynx_369

Triple Lynx

including964.0964.50.576.4 
OSK-W-20-2260-W1843.0846.03.031438.0Lynx_361

Triple Lynx

including843.4844.41.0927100
OSK-W-20-2272613.0615.02.03.45 Lynx_356Lynx
OSK-W-20-2275796.0798.02.04.38 Lynx_365

Triple Lynx

including796.0796.60.611.3 
 837.0839.22.223.422.8Lynx_365

Triple Lynx

including837.7838.20.5102100
OSK-W-20-22801003.71006.32.64.94 Lynx_368



Triple Lynx



including1003.71004.00.311.1 
and1004.01004.40.410.5 
 1025.91030.14.28.13 Lynx_363

Triple Lynx

including1027.01027.50.525.5 
 1038.01040.02.03.76 Lynx_363

Triple Lynx

including1039.41040.00.68.10 
 1067.01069.02.012.5 Lynx_364

Triple Lynx

including1067.81068.10.352.1 
 1079.01081.02.04.09 Lynx_364Triple Lynx
 1088.71094.45.716.812.9Lynx_369

Triple Lynx

including1093.21093.50.3173100
 1109.01111.02.04.64 Lynx_370Triple Lynx
OSK-W-20-2280-W11006.01008.02.04.22 Lynx_368

Triple Lynx

including1006.01007.01.08.08 
 1013.01016.03.04.82 Lynx_368Triple Lynx
 1021.91024.12.220.3 Lynx_363Triple Lynx
 1043.41047.64.227.7 Lynx_363

Triple Lynx

including1043.71044.71.078.6 
 1080.81083.02.24.81 Lynx_364Triple Lynx
 1097.01106.89.833.627.6Lynx_370



Triple Lynx



including1102.01104.02.0129100
and1106.51106.80.3108100
OSK-W-20-2288624.4633.99.512.0 Lynx_356



Lynx



including629.4630.00.627.9 
and632.7633.30.628.8 
OSK-W-20-2292852.0854.02.03.87 Lynx_363

Triple Lynx

including852.0852.70.710.9 
OSK-W-20-2292-W1835.9838.02.13.39 Lynx_361Triple Lynx
 840.0843.53.53.65 Lynx_361



Triple Lynx



including840.0840.40.47.83 
and843.0843.50.59.84 
 857.0859.32.326.0 Lynx_363

Triple Lynx

including858.3859.31.057.6 
 889.5892.02.597.832.2Lynx_364

Triple Lynx

including890.3891.10.8305100
OSK-W-20-2293139.9142.42.55.25 F17_6005

F-17

including142.0142.40.418.0 
OSK-W-20-2297128.0131.03.029.324.2F17_6003

F-17

including128.0128.40.4138100
 166.5168.82.35.82 F17_6005F-17
OSK-W-20-2300149.7154.04.37.42 F17_6005

F-17

including151.0152.01.015.6 
OSK-W-20-2312126.0128.02.07.26 Mallard_5200

Mallard

including127.0127.60.622.6 
OSK-W-20-2315127.0129.02.05.59 Mallard_5200Mallard
 157.0159.02.04.13 Mallard_5213Mallard
OSK-W-20-2321166.3168.52.26.40 Mallard_5213

Mallard

including167.2167.80.621.2 
OSK-W-20-2323153.0155.02.03.88 Mallard_5213

Mallard

including154.7155.00.324.1 
OSK-W-20-2327105.3111.46.113.6 Mallard_5213

Mallard

including109.0110.01.048.9 
WST-20-013572.074.32.34.20 Lynx_311

Lynx

including73.974.30.414.6 
WST-20-031865.068.53.536.2 Lynx_311

Lynx

including66.066.70.791.0 
WST-20-0389A192.0194.32.39.23 Lynx_341

Lynx

including192.0192.60.623.5 
 553.9555.92.03.44 Lynx_340

Lynx

including553.9554.30.415.7 
WST-20-0391A91.694.12.56.21 Lynx_304

Lynx

including93.494.10.717.6 
 98.3100.52.23.47 Lynx_304Lynx
WST-20-039282.884.82.08.12 Lynx_323

Lynx

including83.483.80.426.3 
 88.090.22.25.49 Lynx_323Lynx
 107.0109.72.711.2 Lynx_304

Lynx

including108.4108.80.470.9 
WST-20-039348.951.52.64.68 Lynx_325

Lynx

including50.050.70.710.2 
 113.2115.92.75.34 Lynx_304

Lynx

including114.3114.80.518.8 
WST-20-0402142.1144.42.325.814.3Lynx_301

Lynx

including142.1142.40.3189100
WST-20-040985.487.42.03.37 Lynx_323Lynx
WST-20-041297.699.92.39.21 Lynx_323

Lynx

including99.699.90.348.5 
WST-20-042187.690.02.43.87 Lynx_323

Lynx

including88.288.50.328.3 
 151.0153.22.24.96 Lynx_321

Lynx

including152.3153.20.911.2 
WST-20-0423101.0103.72.75.56 Lynx_304Lynx
 109.0112.03.09.95 Lynx_359Lynx
WST-20-0424115.0117.02.08.3 Lynx_359

Lynx

including116.0117.01.015.4 

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-20-2139-W10115-52121245298054355494203450
OSK-W-20-2197-W2121-48106445308754355264173550
OSK-W-20-2252-W2129-54119445324154356944153750
OSK-W-20-2252-W4129-54114345324154356944153750
OSK-W-20-2256125-51117945316054356864143675
OSK-W-20-2256-W4125-51112245316054356864143675
OSK-W-20-2260-W1127-48114045320154356674133700
OSK-W-20-2272149-45100445296754352654123300
OSK-W-20-2275127-49109445288654355844093400
OSK-W-20-2280127-58116145330454356394153775
OSK-W-20-2280-W1127-58117045330454356394153775
OSK-W-20-2288146-5174945287554351814093175
OSK-W-20-2292125-54105945303754355634203525
OSK-W-20-2292-W1125-54114945303754355634203525
OSK-W-20-2293145-4418345265854355494063175
OSK-W-20-2297149-4718045265254355674053175
OSK-W-20-2300152-4519245269954355784063225
OSK-W-20-2312334-5119245196454348164082225
OSK-W-20-2315334-5219245197954348054072225
OSK-W-20-2321332-5117645195854347904072200
OSK-W-20-2323335-4917145193654347914052175
OSK-W-20-2327334-4913245190154348104012150
WST-20-0135187-5844445322654351251343475
WST-20-0318148-5250245322854351271343475
WST-20-0389A115-4661645345254352661153725
WST-20-0391A135817445335954352091553625
WST-20-0392126218145335954352091553625
WST-20-0393153-3717545335854352081543625
WST-20-04021473216245349354352871193775
WST-20-04091552116945345054352641173725
WST-20-04121642416545345054352641173725
WST-20-04211621616845345054352641173725
WST-20-0423134-1814245335954352091543625
WST-20-0424160517845335854352081553625

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.

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

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 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 

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