Osisko Windfall Drilling Intercept High Grade in Lynx

2022-03-16 / @nasdaq

 

TORONTO, March 16, 2022 (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 50 intercepts in 27 drill holes (2 from surface, 25 from underground) and 8 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “The Lynx infill and expansion drill programs continue to impress with respect to both high-grade and width. A third of today’s intercepts are greater than an ounce per ton gold and a third are greater than five meters in length. Drilling at Windfall remains focused on Lynx and other strategic areas.”

Selected high-grade intercepts include: 431 g/t Au over 4.7 metres and 32.6 g/t Au over 3.4 metres in WST-21-0929B; 187 g/t Au over 5.4 metres in OSK-W-21-2601-W1; 103 g/t Au over 6.6 metres in WST-21-0907; 65.5 g/t Au over 7.4 metres in OSK-W-21-2605-W1; 45.2 g/t Au over 8.5 metres in WST-21-0934; 22.1 g/t Au over 12.0 metres in OSK-W-21-2613-W1; 116 g/t Au over 2.1 metres in WST-21-0994; 36.0 g/t Au over 6.4 metres in OSK-W-21-1949-W16; 42.1 g/t Au over 5.2 metres in WST-21-0689A and 23.9 g/t Au over 5.6 metres in OSK-W-21-2381-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_All zones In EN 20220316, Long Section_All zones Ex EN 20220316, PR_EN_20220316_Surface, PR_EN_20220316_UG.

Infill Drilling

Hole No.From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to 100 g/t
ZoneCorridor
OSK-W-21-1949-W16624.7631.16.436.022.6LXM_3388



Lynx



including629.6630.00.4298100
and630.0630.40.4116100
OSK-W-21-2287-W121200.31202.52.214.3 LX4_3449

Lynx 4

including1200.31201.20.931.8 
OSK-W-21-2564-W1742.0744.12.133.925.9TLX_3171

Triple Lynx

including742.7743.20.5134100
OSK-W-21-26051304.01306.02.07.18 LX4_3445Lynx 4
OSK-W-21-2605-W11295.71303.17.465.525.0LX4_3449



Lynx 4



including1296.41296.80.4754100
and1296.81297.70.9142100
OSK-W-21-2613-W1980.0982.92.97.04 TLX_3161

Triple Lynx

including981.8982.91.114.6 
 1116.01128.012.022.119.9TLX_3160



Triple Lynx



including1118.21119.00.8132100
and1127.01128.01.068.0 
 1131.01133.02.05.13 TLX_3160Triple Lynx
WST-21-0689A217.8223.05.242.124.7TLX_3161

Triple Lynx

including220.0220.50.5281100
WST-21-071326.733.06.35.34 LXM_3303

Lynx

including32.133.00.918.3 
WST-21-0877328.5331.02.57.63 LSW_3556

Lynx SW

including329.2329.50.356.5 
WST-21-0907527.7534.36.610332.4LX4_3401

Lynx 4

including530.4531.41.0565100
WST-21-0929B550.4553.83.432.612.7LX4_3404

Lynx 4

including553.0553.30.3326100
 564.8569.54.743162.6LX4_3430





Lynx 4





including564.8565.60.8293100
and565.6566.40.82010100
and567.0568.01.0147100
WST-21-0933A331.0333.52.54.76 TLX_3166Triple Lynx
 498.4500.42.031.225.2LX4_3450

Lynx 4

including499.0499.30.3140100
WST-21-0934481.1489.68.545.222.9LX4_3430



Lynx 4



including483.6484.50.9236100
and485.9486.20.3323100
WST-21-0948504.6506.82.227.923.1LX4_3409

Lynx 4

including504.6504.90.3136100
WST-21-0956244.6246.62.041.9 TLX_3121Triple Lynx
 251.0253.32.340.5 TLX_3121

Triple Lynx

including252.0252.50.596.7 
WST-21-0961199.0201.12.117.8 TLX_3161

Triple Lynx

including199.7200.40.752.1 
WST-21-0964484.0486.02.03.87 LX4_3401Lynx 4
WST-21-0967219.5221.82.39.91 TLX_3161

Triple Lynx

including220.1220.60.545.4 
WST-21-0970466.4468.42.09.06 LX4_3430

Lynx 4

including468.1468.40.357.5 
 476.0478.32.36.34 LX4_3444

Lynx 4

including476.7477.00.322.2 
WST-21-0978A315.4317.62.220.4 TLX_3131

Triple Lynx

including316.2316.60.498.4 
WST-21-0981178.7181.12.420.9 TLX_3161

Triple Lynx

including178.7179.00.365.7 
WST-21-0991328.0330.02.040.535.8LHW_3212

Lynx HW

including328.5329.20.7114100
WST-21-0994181.3183.42.111640.7TLX_3184

Triple Lynx

including181.9182.60.7325100
WST-21-099525.727.82.15.57 TLX_3161Triple Lynx
 30.933.02.17.46 TLX_3161Triple Lynx
WST-21-0996A194.6200.35.76.65 TLX_3164

Triple Lynx

including198.8199.10.347.7 
 225.0231.06.04.10 TLX_3169Triple Lynx
 381.0383.02.04.18 TLX_3191

Triple Lynx

including381.3381.70.420.2 
WST-21-0997555.0557.22.29.24 LX4_3404Lynx 4
WST-22-1000147.3155.58.28.26 TLX_3161

Triple Lynx

including150.3150.80.544.8 
WST-22-1002250.0252.02.020.7 LHW_3224

Lynx HW

including251.0252.01.041.4 
 268.0270.02.03.63 LHW_3224Lynx HW
WST-22-1007199.4201.72.39.11 TLX_3161

Triple Lynx

including199.8200.20.429.4 

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

Expansion Drilling

Hole No.From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
ZoneCorridor
OSK-W-21-2381-W3919.0921.02.04.28 TLXTriple Lynx
 959.8962.72.912.9 TLX

Triple Lynx

including961.5961.90.451.0 
 997.01002.65.623.9 TLX_3158

Triple Lynx

including997.0997.40.450.6 
OSK-W-21-2540-W51134.01136.02.022.8 TLX

Triple Lynx

including1134.01135.11.141.3 
OSK-W-21-2601-W11004.61010.05.418771.8TLX_3158



Triple Lynx



including1005.41007.82.4330100
and1008.31008.60.3325100
OSK-W-21-26471364.01366.52.516.6 TLX_3172

Triple Lynx

including1365.01365.60.662.4 
WST-21-0927588.0593.55.54.60 LX4

Lynx 4

including588.0588.70.725.6 
 650.3661.010.75.79 LX4

Lynx 4

including651.0651.70.721.7 
WST-21-0970448.9451.42.517.4 LX4

Lynx 4

including449.9450.50.665.0 
WST-21-0992242.1244.22.111.8 LXM

Lynx

including242.1243.00.925.4 
WST-21-0996A359.0362.13.14.21 TLXTriple 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 and TLX = Triple Lynx.

Drill hole location

Hole No.Azimuth
(°)
Dip (°)Length
(m)
UTM EUTM NElevationSection
OSK-W-21-1949-W16105-57101445344054354794013825
OSK-W-21-2287-W12116-53130245360754357144044075
OSK-W-21-2381-W3134-53139245362054357904024125
OSK-W-21-2540-W5117-60131145346554356404103925
OSK-W-21-2564-W1132-50115245296054355394193425
OSK-W-21-2601-W1125-61123545342554356574133900
OSK-W-21-2605112-55140145355254356694084025
OSK-W-21-2605-W1112-55138045355254356694084025
OSK-W-21-2613-W1114-53115245298154355494203450
OSK-W-21-2647100-61121545352554357044054000
WST-21-0689A161-643974533565435272163650
WST-21-07131654404533595435194843625
WST-21-0877158-6049045310554350652313325
WST-21-0907130-407014533755435297-263675
WST-21-0927146-487514533215435235543600
WST-21-0929B115-467714535065435327-903800
WST-21-0933A131-5273345322254351211353450
WST-21-0934119-395834535075435332-473800
WST-21-0948136-315834533745435296-263675
WST-21-0956134-603014535085435328-73800
WST-21-0961163-563904535075435327-73800
WST-21-0964127-386844533745435297-263675
WST-21-0967160-602714535065435327-73800
WST-21-0970117-345194535075435333-473800
WST-21-0978A146-497024535085435327-73800
WST-21-0981174-512584533585435296-1493675
WST-21-0991134-293914534615435326323775
WST-21-0992120-344994535075435333-473800
WST-21-0994197-382314533575435296-1483675
WST-21-0995149-391484534405435223-1593700
WST-21-0996A143-454274533585435297-1493675
WST-21-0997119-456404535065435326-903800
WST-22-1000139-454474533595435297-1493675
WST-22-1002122-363414535075435332-483800
WST-22-1007142-361834533455435313-673650

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), Director of Exploration for Osisko's Windfall 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 3.5 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 Estimate (MRE) defined by Osisko, as disclosed in the news release dated January 10, 2022 is supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021), and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate 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 2,500 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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