Osisko Intersects 115 g/t Au Over 5.6 Metres at Windfall

2020-09-01 / @nasdaq

 

TORONTO, Sept. 01, 2020 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to provide new analytical 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.

Drilling is currently focused on the Lynx deposit, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system.  Osisko President and Chief Executive Officer John Burzynski commented: “We continue to be impressed with the strong results from Lynx, and are seeing good possibilities to extend the mineralization in the known zones.  While we are focused on completing the infill drilling, the deposit continues to grow in the process.”

Infill results are presented below. Significant new analytical results from 96 intercepts in 38 new drill holes and 26 wedges include: 115 g/t Au over 5.6 metres and 25.6 g/t Au over 5.0 metres in OSK-W-20-2256-W2; 57.9 g/t Au over 3.6 metres in OSK-W-20-2139-W9; 94.4 g/t Au over 2.0 metres in WST-20-0389A; 54.4 g/t Au over 3.3 metres in OSK-W-20-2260-W2; 77.3 g/t Au over 2.3 metres in OSK-W-20-2268-W3; 42.8 g/t Au over 3.1 metres in OSK-W-20-2243-W4; 31.2 g/ Au over 4.1 metres OSK-W-20-2252-W2; 62.2 g/t Au over 2.0 metres in OSK-W-20-2299; and 47.4 g/t Au over 2.5 metres in WST-20-0471.  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-18-1741-W1847.0849.72.77.02 Lynx 4Lynx
including848.2848.70.533.1 
OSK-W-19-1942447.0449.72.73.25 Lynx_323Lynx
including448.3448.90.614.0 
OSK-W-19-1963-W31401.01403.52.53.03 Lynx_345Lynx
OSK-W-19-2059-W1735.0737.02.03.77 LynxLynx
 985.9988.02.19.43 Lynx 4Lynx
OSK-W-19-2139-W4545.0547.12.15.80 Triple LynxTriple Lynx
including546.5547.10.618.4 
OSK-W-19-2221775.0777.02.05.48 Lynx 4Lynx
including775.7776.10.426.4 
OSK-W-20-1104-W7502.0504.32.334.6 LynxLynx
including503.0504.01.079.1 
OSK-W-20-1731-W5607.0609.02.011.9 LynxLynx
OSK-W-20-2059-W3992.8995.02.27.28 Lynx 4Lynx
OSK-W-20-2059-W41077.01079.02.03.40 Lynx 4Lynx
including1077.71078.00.317.4 
OSK-W-20-2139-W8565.0567.42.49.28 Triple LynxTriple Lynx
including566.2566.80.636.9 
OSK-W-20-2139-W9908.9912.53.657.915.6Lynx_361Triple Lynx
including912.0912.50.5405100
OSK-W-20-2170-W5980.5982.52.03.28 Lynx_363Triple Lynx
OSK-W-20-2217-W4768.7775.06.39.98 Triple LynxTriple Lynx
including772.8773.60.852.3 
 781.0783.02.04.08 Triple LynxTriple Lynx
 793.6795.82.24.42 Triple LynxTriple Lynx
including795.2795.50.324.4 
 917.0919.02.010.9 Triple LynxTriple Lynx
including918.0918.30.371.9 
 972.0974.02.022.8 Triple LynxTriple Lynx
including973.0974.01.043.9 
 981.0983.02.029.215.6Triple LynxTriple Lynx
including981.3981.60.3191100
OSK-W-20-2243-W31016.01018.02.016.7 Lynx_374Triple Lynx
including1016.01017.01.033.3 
OSK-W-20-2243-W4773.4776.53.142.820.9Lynx_361Triple Lynx
including774.8775.10.3326100
 829.0831.02.04.09 Lynx_364Triple Lynx
OSK-W-20-2249374.6376.62.03.44 CaribouCaribou
OSK-W-20-2250-W1973.0975.02.048.615.4Triple LynxTriple Lynx
including973.5973.80.3321100
OSK-W-20-2250-W3748.0750.02.03.11 Triple LynxTriple Lynx
 756.4758.52.111.5 Triple LynxTriple Lynx
including756.8757.10.342.9 
OSK-W-20-2250-W4744.0746.02.014.7 Lynx_371Triple Lynx
including744.0745.01.027.3 
 764.7767.02.310.8 Lynx_361Triple Lynx
including765.7766.40.733.1 
OSK-W-20-2252-W1832.0834.62.627.613.2Lynx_371Triple Lynx
including834.3834.60.3225100
 861.0863.02.04.86 Triple LynxTriple Lynx
OSK-W-20-2252-W2837.0841.24.212.9 Triple LynxTriple Lynx
including838.8839.50.759.7 
 856.0860.14.131.212.7Lynx_371Triple Lynx
including859.7860.10.4290100
 1154.01156.82.85.37 Lynx_374Triple Lynx
OSK-W-20-2252-W3940.1943.02.94.33 Lynx_363Triple Lynx
including940.1940.40.321.3 
OSK-W-20-2253554.1556.42.35.60 Triple LynxTriple Lynx
including554.1555.00.912.2 
 596.7599.02.33.01 Triple LynxTriple Lynx
including598.7599.00.316.4 
OSK-W-20-2256830.7833.42.74.61 Triple LynxTriple Lynx
OSK-W-20-2256-W2855.0859.04.04.21 Triple LynxTriple Lynx
 874.7880.35.611516.0Lynx_361Triple Lynx
including876.5877.10.61020100
 931.9936.04.13.78 Lynx_369Triple Lynx
including931.9932.20.312.0 
and935.0936.01.08.94 
 940.0945.05.025.6 Lynx_369Triple Lynx
including940.0941.01.053.4 
OSK-W-20-2260-W1939.0942.03.06.19 Lynx_369Triple Lynx
including939.0940.01.014.0 
OSK-W-20-2260-W2838.7842.03.354.4 Lynx_361Triple Lynx
including838.7840.51.888.2 
 878.0880.02.04.25 Triple LynxTriple Lynx
 891.0893.02.012.2 Lynx_363Triple Lynx
including891.8892.30.536.5 
 909.9912.02.14.77 Lynx_364Triple Lynx
 941.0943.02.010.1 Triple LynxTriple Lynx
OSK-W-20-2266-W1767.5769.92.44.08 Lynx_363Triple Lynx
OSK-W-20-2268-W1812.5814.52.04.64 Triple LynxTriple Lynx
including813.7814.10.412.1 
OSK-W-20-2268-W3779.0781.32.377.318.6Lynx_364Triple Lynx
including780.7781.00.3550100
 790.9796.05.14.60 Triple LynxTriple Lynx
OSK-W-20-2269510.2513.02.88.05 LynxLynx
including510.2510.50.372.3 
OSK-W-20-2271775.0777.02.07.99 LynxLynx
 1108.61114.25.613.2 Lynx 4Lynx
including1110.81111.50.751.6 
OSK-W-20-2275670.3672.42.14.13 Triple LynxTriple Lynx
including670.3670.70.410.6 
OSK-W-20-227683.685.92.33.11 F17_6003F-17
including84.785.00.318.6 
 94.096.32.37.06 F17_6003F-17
including94.695.00.438.0 
 98.5102.03.54.09 F17_6005F-17
OSK-W-20-2278105.5107.52.06.36 F17_6002F-17
including106.4106.90.518.7 
OSK-W-20-2281125.0129.04.03.08 F17_6003F-17
including125.0126.01.07.28 
and128.5129.00.57.46 
OSK-W-20-2288169.6172.02.46.44 Caribou_2527Caribou
 193.0195.02.013.8 Caribou_2527Caribou
including194.0194.60.624.5 
 204.7206.82.13.77 Caribou_2527Caribou
OSK-W-20-228998.6101.02.410.7 F17_6003F-17
including100.0101.01.022.1 
OSK-W-20-229189.792.02.318.2 F17_6003F-17
including89.790.50.824.3 
and90.591.30.826.7 
OSK-W-20-2293114.6117.32.75.30 F17_6003F-17
including114.6114.90.311.0 
and116.8117.30.510.1 
OSK-W-20-2298487.0489.02.011.2 Lynx_356Lynx
including487.7488.60.924.6 
OSK-W-20-2299134.7136.72.062.241.5F17_6003F-17
including135.1135.90.815280.0
WST-19-0225325.0327.02.05.17 CaribouCaribou
WST-19-023889.191.12.04.32 LynxLynx
WST-20-0308148.5150.72.25.98 LynxLynx
including150.1150.70.621.5 
WST-20-0318258.0260.52.56.53 Lynx 4Lynx
including260.0260.50.522.9 
WST-20-033532.034.32.34.51 LynxLynx
WST-20-0342A172.6175.02.45.15 Lynx_304Lynx
including174.6175.00.418.0 
WST-20-034360.963.22.311.0 Lynx_311Lynx
including60.961.30.460.0 
 86.988.92.03.90 Lynx_304Lynx
WST-20-03451.04.13.111.4 MallardMallard
including1.02.51.520.9 
WST-20-035041.644.42.89.18 Lynx_325Lynx
including41.642.40.829.3 
 113.5116.02.517.6 Lynx_304Lynx
including114.0114.90.945.7 
WST-20-035196.098.02.04.25 Lynx_304Lynx
including96.997.60.710.9 
WST-20-0388284.6287.52.938.823.2Lynx 4Lynx
including286.9287.50.6176100
WST-20-0389A162.3164.32.094.450.9Lynx_304Lynx
including163.0164.01.0187100
 169.3171.52.223.514.9Lynx_304Lynx
including169.6169.90.3163100
 322.0324.32.34.44 Lynx_321Lynx
including323.2323.90.714.4 
WST-20-0396138.5141.12.63.54 Lynx HWLynx
including140.3140.60.320.2 
WST-20-0397136.6138.62.010.7 Lynx_301Lynx
including137.7138.10.452.1 
WST-20-0417368.0370.02.03.21 Lynx 4Lynx
WST-20-0438137.0139.02.029.615.2LynxLynx
including137.6137.90.3197100
WST-20-0442239.0241.02.03.09 Lynx 4Lynx
WST-20-0446167.9170.02.134.229.9Lynx_304Lynx
including167.9168.50.6115100
 349.0352.03.09.32 Lynx HWLynx
WST-20-0462263.8266.02.27.77 LynxLynx
WST-20-0468143.8146.72.93.18 Lynx_321Lynx
including143.8144.70.96.34 
WST-20-0471126.0128.52.547.432.0Lynx_321Lynx
including127.7128.50.8148100
 154.9157.02.112.4 Lynx_315Lynx
including155.8156.50.736.0 

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-18-1741-W1144-48108345332854354664063725
OSK-W-19-1942128-5493045331554353904033675
OSK-W-19-1963-W3123-58146045376154358164014275
OSK-W-19-2059-W1131-52104145344654354774003825
OSK-W-19-2139-W4115-52101145298054355494203450
OSK-W-19-2221134-4978945342254354654013800
OSK-W-20-1104-W7142-5086745338354354554023775
OSK-W-20-1731-W5139-51102845338354355184093800
OSK-W-20-2059-W3131-52102945344654354774003825
OSK-W-20-2059-W4131-52109245344654354774003825
OSK-W-20-2139-W8115-52112545298054355494203450
OSK-W-20-2139-W9115-52115245298054355494203450
OSK-W-20-2170-W5128-59114845342554356574133900
OSK-W-20-2217-W4134-48113445294354355664193425
OSK-W-20-2243-W3122-54106245308754355274183550
OSK-W-20-2243-W4122-54112145308754355274183550
OSK-W-20-2249132-5675945277554351924113100
OSK-W-20-2250-W1132-57106045312854355054203575
OSK-W-20-2250-W3132-57117045312854355054203575
OSK-W-20-2250-W4132-57100545312854355054203575
OSK-W-20-2252-W1129-54111945324154356944153750
OSK-W-20-2252-W2129-54119445324154356944153750
OSK-W-20-2252-W3129-53106245324154356944153750
OSK-W-20-2253128-5492445283154353264133225
OSK-W-20-2256125-51117945316054356864143675
OSK-W-20-2256-W2125-5195745316054356864143675
OSK-W-20-2260-W1127-48114045319954356694133700
OSK-W-20-2260-W2127-48119145319954356694133700
OSK-W-20-2266-W1128-55111645306954354764183500
OSK-W-20-2268-W1127-55107345314854354894183575
OSK-W-20-2268-W3127-5597545314854354894183575
OSK-W-20-2269133-5093345297254352114163275
OSK-W-20-2271120-53124745346254356834103950
OSK-W-20-2275127-49109445288654355844093400
OSK-W-20-2276149-4713845263954354934053125
OSK-W-20-2278158-5318645263254355224053150
OSK-W-20-2281149-4717145263054355504043150
OSK-W-20-2288146-5174945287554351814103175
OSK-W-20-2289149-4714145266454355214073175
OSK-W-20-2291158-4813145269254355224103200
OSK-W-20-2293145-4418345265854355494073175
OSK-W-20-2298137-5059645284654350604073100
OSK-W-20-2299150-4920145268154355844043225
WST-19-0225132-932945220854348992492475
WST-19-0238173129745321654351142243450
WST-20-0308172-1216045329254351391633525
WST-20-0318148-5250245322854351271343475
WST-20-0335141-4214245341154352301133675
WST-20-0342A116-4767945345254352661153725
WST-20-0343158817745341054352291153675
WST-20-0345136-2140145228254349752632575
WST-20-0350142-3117545335954352091543625
WST-20-0351142-1918145335954352091543625
WST-20-0388169-5551645322854351271343475
WST-20-0389A115-4661645345254352661153725
WST-20-03961582016545349354352871183775
WST-20-03971502616245349454352871183775
WST-20-0417138-5075945322854351261343475
WST-20-0438163-1614545344954352641153725
WST-20-0442134-3226545349454352871163775
WST-20-0446115-4961345345254352651143725
WST-20-0462152-5368045322754351251343475
WST-20-0468130219345349454352871173775
WST-20-0471156218145349354352871173775

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.

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

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
President & Chief Executive Officer
Telephone (416) 363-8653

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