Osisko Windfall Drilling Intercepts High-Grade in Multiple Lynx Zones

2022-05-25 / @nasdaq

 

TORONTO, May 25, 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 71 intercepts in 27 underground drill holes and 13 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: “Infill drilling in support of the upcoming feasibility study continues to intersect high-grade across the deposit, especially in the Lynx area. This week’s expansion intercepts, including the higher-up Bobcat holes, are 25 metre step-outs which allow for these intercepts to be included in the resource estimate.”

Selected high-grade intercepts include: 272 g/t Au over 2.3 metres in WST-22-1018-W1, 26.3 g/t Au over 15.8 metres in OSK-W-22-2587-W3; 95.8 g/t Au over 3.1 metres in OSK-W-22-2601-W6; 131 g/t Au over 2.2 metres in OSK-W-22-2646-W5; 21.4 g/t Au over 13.2 metres in OSK-W-22-2605-W3; 39.9 g/t Au over 6.8 metres in OSK-W-22-2605-W2; 80.0 g/t Au over 3.2 metres in OSK-W-22-2646-W4, 125 g/t Au over 2.0 metres in WST-22-1019, 112 g/t Au over 2.2 metres in WST-22-1021 and 24.6 g/t Au over 9.6 metres in WST-22-1020. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_All zones In EN 20220525, Long Section_All zones Ex EN 20220525, PR_EN_20220525_Surface, PR_EN_20220525_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-22-2587-W31134.01149.815.826.311.3TLX_3172

Triple Lynx

including1148.31149.10.8397100
OSK-W-22-2587-W41125.01127.02.020.6 TLX_3162

Triple Lynx

including1126.01126.70.743.1 
 1139.01143.04.010.1 TLX_3170

Triple Lynx

including1139.01139.70.743.1 
 1151.11153.52.430.724.5TLX_3172

Triple Lynx

including1152.01152.40.4138100
OSK-W-22-2601-W41010.01012.12.112135.8TLX_3158

Triple Lynx

including1010.01010.70.7356100
OSK-W-22-2601-W61022.31025.43.195.870.8TLX_3158

Triple Lynx

including1024.01024.60.6186100
OSK-W-22-2605-W21315.51322.36.839.923.9LX4_3449



Lynx 4



including1315.51316.00.5186100
and1321.61322.00.4266100
OSK-W-22-2605-W31332.61345.813.221.417.1LX4_3449



Lynx 4



including1336.01336.50.5212100
and1338.51339.40.958.1 
OSK-W-22-2605-W41318.71322.13.411.2 LX4_3449

Lynx 4

including1319.71320.00.332.9 
 1324.71328.03.33.79 LX4_3449Lynx 4
 1347.01364.517.54.66 LX4_3445Lynx 4
OSK-W-22-2605-W51299.61303.13.535.030.3LX4_3449

Lynx 4

including1301.11301.80.7124100
 1313.71316.12.44.99 LX4_3449

Lynx 4

including1314.51315.20.710.8 
OSK-W-22-2605-W61361.61364.32.74.27 LX4_3445Lynx 4
OSK-W-22-2646-W41149.01151.32.310.0 TLX_3162

Triple Lynx

including1149.41149.90.544.4 
 1186.41189.63.280.064.5TLX_3172

Triple Lynx

including1186.41187.00.6175100
OSK-W-22-2646-W51046.31048.32.041.021.3TLX_3158

Triple Lynx

including1046.61046.90.3231100
 1050.11052.22.16.71 TLX_3158Triple Lynx
WST-21-0713A79.882.02.26.24 LXM_3371Lynx
WST-21-084586.088.02.05.19 LXM_3336

Lynx

including86.787.00.334.4 
 98.6100.72.118.8 LXM_3371

Lynx

including100.0100.40.491.0 
WST-21-084796.299.83.620.2 LXM_3371

Lynx

including96.297.00.859.4 
WST-21-084873.575.92.47.49 LXM_3336

Lynx

including75.575.90.444.5 
 97.099.42.48.86 LXM_3371

Lynx

including98.198.50.437.8 
 113.0117.74.74.17 LXM_3359

Lynx

including113.0113.40.426.9 
WST-21-084974.076.62.611.3 LXM_3336

Lynx

including75.776.30.647.7 
 96.098.02.029.1 LXM_3371

Lynx

including97.297.60.491.9 
 110.1112.32.26.17 LXM_3359

Lynx

including110.4110.90.526.5 
WST-21-0887121.0123.52.57.59 LXM_3359

Lynx

including123.0123.50.533.4 
WST-21-089197.8100.02.218.4 LXM_3371

Lynx

including97.898.30.569.1 
WST-21-090553.155.22.15.62 LXM_3339

Lynx

including53.654.00.417.3 
WST-21-092147.749.72.021.4 LXM_3303

Lynx

including48.649.71.138.5 
WST-21-092365.567.82.35.91 LXM_3336

Lynx

including65.566.10.617.8 
 98.3100.52.27.23 LXM_3371

Lynx

including98.399.10.819.5 
WST-21-094158.861.12.355.127.3LXM_3336

Lynx

including59.359.80.5228100
WST-22-0998200.8205.24.48.34 MAL_5215

Mallard

including204.0205.21.223.8 
WST-22-1010357.5359.72.210.4 LX4_3405

Lynx 4

including358.0358.40.437.0 
WST-22-1011200.5202.52.084.167.3TLX_3161

Triple Lynx

including201.3202.51.2128100
WST-22-1014-W1473.5477.54.020.912.6LX4_3404

Lynx 4

including473.5473.90.4183100
 482.3484.42.110.1 LX4_3430

Lynx 4

including483.8484.40.633.3 
WST-22-1015183.3185.32.04.03 MAL_5215

Mallard

including184.4185.00.612.6 
WST-22-1016264.6268.33.740.8 TLX_3158

Triple Lynx

including265.3265.80.588.6 
WST-22-1018198.8200.92.162.430.0TLX_3161

Triple Lynx

including200.1200.50.4270100
 540.7542.82.15.74 LX4_3404

Lynx 4

including540.7541.30.616.0 
WST-22-1018-W1540.0542.02.06.31 LX4_3404Lynx 4
 545.4547.72.327258.9LX4_3430



Lynx 4



including545.4546.00.6504100
and547.1547.70.6512100
WST-22-1019227.8230.42.69.93 TLX_3131

Triple Lynx

including228.9229.20.364.2 
 395.0397.02.038.215.5LX4_3410

Lynx 4

including396.1396.40.3251100
 425.3428.02.716.611.8LX4_3409

Lynx 4

including425.3425.60.3143100
 430.0432.02.012515.3LX4_3409

Lynx 4

including431.7432.00.3833100
WST-22-1020139.0141.42.49.86 LXM_3334

Lynx

including139.3139.70.423.7 
 312.0321.69.624.613.0TLX_3131

Triple Lynx

including318.4319.41.0211100
 539.8542.02.25.75 LX4_3450

Lynx 4

including540.3540.60.339.3 
WST-22-1021281.0285.04.046.640.4TLX_3158

Triple Lynx

including282.3282.90.6142100
 323.7327.84.110.2 TLX_3155

Triple Lynx

including327.4327.80.498.9 
WST-22-1025160.3163.02.714.0 LXM_3388Lynx
WST-22-1036497.9500.32.44.87 LX4_3404

Lynx 4

including497.9498.30.422.9 
 513.0515.02.011.8 LX4_3404

Lynx 4

including514.0514.40.441.5 
WST-22-1051257.0260.03.020.6 TLX_3158Triple Lynx
WST-22-105586.889.02.27.35 TLX_3161

Triple Lynx

including86.887.10.346.0 

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 MAL = Mallard.

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-22-2587-W41109.71118.68.93.65 TLX

Triple Lynx

including1118.21118.60.425.0 
OSK-W-22-2646-W41115.01120.65.64.00 TLX

Triple Lynx

including1120.01120.60.618.1 
 1125.01127.02.03.90 TLXTriple Lynx
OSK-W-22-2646-W51169.31171.52.213131.6TLX_3172

Triple Lynx

including1169.71170.30.6465100
WST-21-0771C104.2107.02.811.4 BCT

Bobcat

including105.0106.01.023.7 
WST-21-087274.776.82.18.46 LXM

Lynx

including75.776.30.620.0 
WST-21-0899B35.437.52.111.9 BCT

Bobcat

including35.836.10.380.3 
WST-22-1014-W1558.0560.22.24.02 LX4Lynx 4
WST-22-1019351.3354.02.75.09 LX4_3401Lynx 4
WST-22-1020295.7300.04.37.57 TLX

Triple Lynx

including295.7296.20.516.4 
WST-22-1021437.4439.62.211283.4TLX_3172

Triple Lynx

including438.6439.61.0164100

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

Drill hole location

Hole No.Azimuth
(°)
Dip
(°)
Length
(m)
UTM EUTM NElevationSection
OSK-W-22-2587-W3127-59122145335054356734133850
OSK-W-22-2587-W4127-59121845335054356734133850
OSK-W-22-2601-W4125-61109845342554356564123900
OSK-W-22-2601-W6125-61121245342554356564123900
OSK-W-22-2605-W2112-55143145355154356694084025
OSK-W-22-2605-W3112-55145545355154356694084025
OSK-W-22-2605-W4112-55142545355154356694084025
OSK-W-22-2605-W5112-55140145355154356694084025
OSK-W-22-2605-W6112-55140445355154356694084025
OSK-W-22-2646-W4109-58125445332654356484143800
OSK-W-22-2646-W5109-58124545332654356484143800
WST-21-0713A1584944533595435194843625
WST-21-0771C127-5235745295454350032523175
WST-21-0845130-2911145331554351651243550
WST-21-0847134-3011445331554351651243550
WST-21-0848135-2712945331554351651243550
WST-21-0849134-2411845331554351641243550
WST-21-0872135-693484535085435327-73800
WST-21-0887136-3313245331554351651233550
WST-21-0891138-2812645331454351641243550
WST-21-0899B134-6028745295554350042533175
WST-21-0905141-526445322154351211353450
WST-21-0921148-3711445331454351641243550
WST-21-0923147-3111145331454351641243550
WST-21-0941153-2312945331554351641243550
WST-22-0998358-5223045220754349032472475
WST-22-1010136-284814534455435276-993725
WST-22-1011134-326304533445435312-663650
WST-22-1014-W1123-375944535075435332-473800
WST-22-1015345-6021045220654349032472475
WST-22-1016143-654484536475435347-1893950
WST-22-1018115-436364535065435327-903800
WST-22-1018-W1115-435854535065435327-903800
WST-22-1019140-274634534445435276-993725
WST-22-1020142-525824533225435236543600
WST-22-1021149-674684536475435347-1893950
WST-22-1025122-201894535075435332-473800
WST-22-1036130-486274535055435326-903800
WST-22-1051106-523274537025435377-1984000
WST-22-1055144-441204536005435324-1813950

Bobcat
Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

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.

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), 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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