Osisko Intersects 202 g/t Au Over 9.0 Metres at Windfall

2020-08-10 / @nasdaq

 

TORONTO, Aug. 10, 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.

Drill hole OSK-W-20-2059-W4 returned an outstanding intercept averaging 202 g/t Au over 28 metres core length in Lynx 4 (202 g/t Au over 9.0 metres estimated true width). This drill hole intercepted the mineralized zone at a lower than usual core angle (20 degrees), resulting in an estimated true width of approximately 30% of the core length. The interval expands the Lynx 348 Wireframe by 25 metres to the southwest.

Osisko President and Chief Executive Officer John Burzynski commented: “Lynx has once again delivered very impressive results, giving us one of the highest-grade intercepts in our drilling to date.  Our infill drill program continues to highlight the high-grade continuity within the resource area, which remains open down plunge and importantly, towards surface.”

Significant new analytical results from 64 intercepts in 20 new drill holes and 12 wedges are presented below, including:  171 g/t Au over 2.5 metres in WST-20-0463; 173 g/t Au over 2.0 metres in OSK-W-20-2139-W8; 21.0 g/t Au over 13.0 metres in OSK-W-2256-W1; and 52.7 g/t Au over 2.2 metres  in WST-20-0447.  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-20-1741-W3696.0698.02.03.97 Lynx_336Lynx
 968.0970.02.06.12 Lynx_329Lynx
 1080.91083.12.220.7 Lynx_312Lynx
including1082.01083.11.135.8 
OSK-W-20-2059-W4993.5995.62.13.14 Lynx_327Lynx
including994.2994.50.318.0 
 1037.51066.128.0202 31.0Lynx_348

 
Lynx

 
including1043.31043.60.3102100
 including1049.41049.70.3674100
including1049.71050.00.39830100
including1050.01050.80.8152100
including1051.71052.50.8468100
including1054.61055.00.4157100
including1055.01056.01.0103100
including1058.11058.50.4216100
including1058.51059.10.6307100
including1062.51063.10.61785100
including1063.11064.00.9256100
OSK-W-20-2139-W8918.7920.72.022.320.2Lynx_371Triple Lynx
including919.6919.90.3114100
 931.5933.72.24.90 Lynx_371Triple Lynx
 940.7942.72.04.31 Lynx_361Triple Lynx
including940.7941.00.312.3 
 957.0962.35.38.62 Lynx_368Triple Lynx
including957.7958.00.349.1 
 967.3970.43.18.51 Lynx_363Triple Lynx
including969.6970.10.521.9 
 1002.01004.02.017357.3Lynx_369Triple Lynx
including1003.61004.00.4677100
 1030.11033.02.95.17 Lynx_369Triple Lynx
 1037.61039.62.04.21 Lynx_369Triple Lynx
OSK-W-20-2139-W9543.5545.72.220.3 Triple LynxTriple Lynx
including544.0544.70.763.5 
 949.0951.02.05.72 Lynx_364Triple Lynx
including949.0949.50.514.1 
OSK-W-20-2217-W2546.0548.02.011.7 Lynx_365Triple Lynx
including546.0547.01.023.4 
OSK-W-20-2250-W3765.0767.02.028.424.5Lynx_363Triple Lynx
including765.5765.80.3126100
OSK-W-20-2252-W1828.0830.02.03.48 Lynx_371Triple Lynx
including828.9829.20.319.1 
 874.1876.22.14.21 Lynx_361Triple Lynx
 892.0894.02.03.60 Lynx_361Triple Lynx
 987.9990.02.13.29 Lynx_369Triple Lynx
including988.5989.00.58.49 
OSK-W-20-2256844.0846.52.54.24 Lynx_371Triple Lynx
OSK-W-20-2256-W1855.0868.013.021.017.0Lynx_361Triple Lynx
including862.5863.20.7174100
 947.0949.02.015.3 Lynx_375Triple Lynx
including947.0948.01.029.7 
OSK-W-20-2260-W1891.0893.02.032.3 Lynx_363Triple Lynx
including891.9892.60.786.1 
 1098.01100.32.37.30 Lynx_374Triple Lynx
including1099.31100.31.013.3 
OSK-W-20-2260-W2882.0884.02.03.03 Lynx_363Triple Lynx
OSK-W-20-2266-W1939.6942.32.74.99 Lynx_370Triple Lynx
OSK-W-20-2266-W2731.9742.710.89.07 Lynx_361Triple Lynx
including736.9738.01.135.3 
 774.0776.02.08.57 Lynx_363Triple Lynx
including775.0775.30.341.5 
OSK-W-20-2270596.0598.02.05.99 Lynx_356Lynx
including597.0597.50.523.0 
OSK-W-20-2272568.5570.52.04.65 Lynx_356Lynx
including569.5569.90.421.4 
WST-20-0342A551.0553.62.64.60 Lynx_313Lynx
including553.1553.60.517.9 
 565.3568.02.73.77 Lynx_340Lynx
including565.3565.60.320.1 
WST-20-0446209.0211.52.510.0 Lynx_341Lynx
including211.1211.50.438.3 
WST-20-044753.655.62.03.63 Lynx_311Lynx
 66.868.82.08.47 Lynx_311Lynx
including68.068.30.348.9 
 113.2115.42.252.748.5Lynx_323Lynx
including114.2114.50.3131100
 129.4133.03.611.2 Lynx_304Lynx
including129.4130.00.640.9 
and132.7133.00.348.7 
 497.4499.52.113.4 Lynx_313Lynx
including498.8499.50.738.9 
 528.0530.42.44.92 Lynx_329Lynx
WST-20-0453134.9136.92.013.0 Lynx_301Lynx
including136.6136.90.376.2 
 151.3153.52.213.8 Lynx_315Lynx
including152.4153.00.649.9 
WST-20-0454137.0139.52.54.31 Lynx_301Lynx
including138.0138.60.616.7 
WST-20-0455140.9143.62.75.79 Lynx_301Lynx
WST-20-0456145.0147.02.07.75 Lynx_301Lynx
including145.8146.60.819.2 
WST-20-0458166.3169.02.714.9 Lynx_301Lynx
including167.0167.60.647.7 
WST-20-045953.756.12.443.137.9Lynx_339Lynx
including53.754.60.9114100
 83.386.83.510.8 Lynx_307Lynx
including83.384.10.829.8 
WST-20-0460217.0219.02.03.52 Lynx_321Lynx
 234.6238.03.412.9 Lynx_301Lynx
including235.6236.00.472.9 
WST-20-0461163.6166.02.430.0 Lynx_304Lynx
including164.6165.40.889.1 
 171.3174.02.75.60 Lynx_304Lynx
including171.3171.90.618.8 
 192.8195.02.23.96 Lynx_341Lynx
WST-20-046352.755.02.34.90 Lynx_311Lynx
including52.753.00.310.1 
and54.054.30.320.8 
 100.0102.52.517140.2Lynx_323Lynx
including100.0101.01.0427100
 119.8121.82.09.08 Lynx_304Lynx
including119.8120.60.822.5 
 436.3438.32.024.515.5Lynx_347Lynx
including437.4437.70.3160100
 469.9473.83.99.07 Lynx_313Lynx
including469.9470.80.919.0 
and472.4472.90.523.1 
WST-20-0464133.0135.22.25.33 Lynx_321Lynx
including133.0133.30.333.1 
WST-20-0465135.0137.02.09.56 Lynx_301Lynx
including136.6137.00.444.5 
WST-20-0466138.7141.02.35.17 Lynx_301Lynx
WST-20-0467160.0162.02.011.0 Lynx_315Lynx
including161.0162.01.021.8 
WST-20-0469136.0138.42.413.4 Lynx_301Lynx

Notes: True widths are estimated at 30 – 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-20-1741-W3144-48109845332854354664063725
OSK-W-20-2059-W4131-52109245344654354774003825
OSK-W-20-2139-W8115-52112545298054355494203450
OSK-W-20-2139-W9115-52115245298054355494203450
OSK-W-20-2217-W2134-4889345294354355664193425
OSK-W-20-2250-W3132-57117045312854355054203575
OSK-W-20-2252-W1129-54111945324154356944153750
OSK-W-20-2256125-51117945316054356864143675
OSK-W-20-2256-W1125-51110145316054356864143675
OSK-W-20-2260-W1127-48114045319954356694133700
OSK-W-20-2260-W2127-48119145319954356694133700
OSK-W-20-2266-W1128-55111645306954354764183500
OSK-W-20-2266-W2128-55113145306954354764183500
OSK-W-20-2270133-5377445297254352114163275
OSK-W-20-2272149-45100445296754352644123300
WST-20-0342A116-4767945345254352661153725
WST-20-0446115-4961345345254352651143725
WST-20-0447128-4865745341154352301133675
WST-20-04531391317245349454352871183775
WST-20-04541351918145349354352871183775
WST-20-04551382819245349354352871193775
WST-20-04561292419345349454352871193775
WST-20-04581121420445349554352871183775
WST-20-0459153-4757945322754351261353475
WST-20-0460126-3329545349454352871163775
WST-20-0461115-4562245345254352651143725
WST-20-0463137-4355245341154352301133675
WST-20-0464138317145349454352871183775
WST-20-0465147718445349454352871173775
WST-20-0466131918345349454352871183775
WST-20-0467147-119345349454352871173775
WST-20-04691491518445349454352871183775

Lynx Zone
Gold mineralization in the Lynx Zone occurs as two types: 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, pyrite dominated with minor chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite, ranging from trace to up to 70% locally, and local visible gold. Replacement-type 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. Both types of mineralization are 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
Gold 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 30-80% 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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