Osisko Windfall Drilling Update: More High-Grade in Expansion and Infill

2022-09-15 / @GlobeNewswire

 

TORONTO, Sept. 15, 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 103 intercepts in 46 drill holes (4 from surface, 42 from underground) and 6 wedges. The infill intercepts are located inside defined mineral resource estimate (“MRE”) blocks (see Osisko news release dated August 30, 2022). The expansion intercepts are located outside the MRE blocks and either expand resource wireframes or are in a defined zone or corridor not yet correlated to a specific wireframe.

A new Lynx 4 zone announced earlier this year (see Osisko news release dated March 23, 2022) was included in the recent MRE as Lynx 4 wireframe 3466. Two expansion holes confirmed the growth potential of this wireframe with intercepts 56.9 g/t Au over 2.4 metres and 14.0 g/t Au over 2.9 metres, 170 metres and 80 metres below the current MRE blocks, respectively.

Expansion intercepts extending wireframes include: 29.1 g/t Au over 5.8 metres, a 231-meter extension of Triple Lynx wireframe 3155 below the MRE blocks, 203 g/t Au over 5.2 metres, a 33-meter extension of Triple Lynx wireframe 3120 to the west, and 51.4 g/t Au over 2.1 meters, a 39-meter extension of Triple Lynx wireframe 3161 to the east.

Infill results in this release were received after the June 7, 2022 database closed for use in the recently released MRE, and were not included. These infill results will be used in future mine planning.

Osisko Chief Executive Officer John Burzynski commented: “Our drill program continues to deliver significant high-grade results. The expansion holes continue to clearly demonstrate additional potential growth of the resource base at Windfall. As the focus shifts to engineering and the pending feasibility study, we are reducing the number of active drills at site, however we will maintain exploration work on high-potential expansion areas as well as drilling on key infill areas for mine planning.”

Select infill high-grade intercepts include: 93.9 g/t Au over 7.6 metres in WST-22-1040, 127 g/t Au over 5.7 metres in WST-22-1032; 112 g/t Au over 5.9 metres in WST-22-1033; 57.0 g/t Au over 9.3 metres in OSK-W-22-2601-W7; 53.4 g/t Au over 8.2 metres in WST-22-1026; 214 g/t Au over 2.0 metres in WST-22-1029; 176 g/t Au over 2.1 metres in WST-22-1048; 151 g/t Au over 2.2 metres in WST-22-1068 and 155 g/t Au over 2.0 metres in WST-22-1071A. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_Infill EN 20220915, Long Section_LX4-3466 EN 20220915, Long Section_Expan EN 20220915, PR_EN_20220915_Surface, PR_EN_20220915_UG.

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-19-2108-W21736.91739.32.456.936.3LX4_3466

Lynx 4

including1737.91738.70.8162100
OSK-W-22-2540-W131293.81296.02.27.08 LX4Lynx 4
 1374.01376.42.44.57 LX4_3463Lynx 4
 1471.11474.02.914.0 LX4_3466

Lynx4

including1471.11472.21.127.4 
OSK-W-22-2601-W71061.31067.15.829.1 TLX_3155

Triple Lynx

including1062.21063.31.169.3 
 1091.01093.02.016.3 TLX

Triple Lynx

including1091.01092.01.030.1 
 1126.01128.72.74.49 TLX

Triple Lynx

including1127.41127.80.415.7 
OSK-W-22-2646-W81037.91043.85.97.27 TLX_3148Triple Lynx
 1137.51139.52.06.18 TLX_3162Triple Lynx
OSK-W-22-2655310.6313.32.710.7 BCT

Bobcat

including310.6311.40.823.6 
 344.0346.02.03.64 BCTBobcat
 385.0387.02.080.850.0LXM

Lynx

including385.0386.01.0162100
 432.0434.02.06.10 LXMLynx
 653.0655.02.03.82 LSW_3508

Lynx SW

including653.9654.40.515.0 
OSK-W-22-2656579.0581.22.24.57 LSW_3500Lynx SW
WST-22-1024160.0162.02.05.74 TLX

Triple Lynx

including160.0160.60.618.9 
WST-22-1025135.4137.72.34.10 LXM_3357

Lynx

including137.0137.70.711.9 
WST-22-1026351.8354.02.24.82 TLX

Triple Lynx

including353.1354.00.910.8 
WST-22-1032109.0111.12.16.17 TLX

Triple Lynx

including109.8110.10.317.1 
 189.7191.72.043.825.3TLX

Triple Lynx

including190.2190.70.5174100
 205.9208.12.224.6 TLX_3148

Triple Lynx

including206.3206.90.659.3 
WST-22-1040242.8248.05.220343.8TLX_3120

Triple Lynx

including246.3248.01.7586100
WST-22-104741.043.02.012525.2LXM

Lynx

including41.642.10.5498100
WST-22-1049224.0226.02.08.88 TLX

Triple Lynx

including225.0226.01.017.6 
WST-22-1052446.0448.02.07.83 LX4

Lynx 4

including447.1447.70.625.8 
WST-22-1053A50.052.02.06.64 LXM

Lynx

including50.050.40.433.0 
WST-22-1061142.6144.72.151.443.2TLX_3161



Triple Lynx



including143.3144.00.7125100
and144.4144.70.360.8 
WST-22-1073211.7214.83.14.85 LHW_3216Lynx HW
WST-22-1085254.0256.12.14.23 TLX_3163

Triple Lynx

including255.2255.50.329.2 

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

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-22-2120-W41245.91248.02.116.4 LX4_3449

Lynx 4

including1246.51247.00.565.8 
 1251.91254.22.33.52 LX4_3449Lynx 4
 1263.41265.62.224.1 LX4_3445

Lynx 4

including1264.21264.70.578.6 
OSK-W-22-2601-W71104.01106.02.05.59 TLX_3162

Triple Lynx

including1104.01104.50.518.2 
 1112.01114.62.66.07 TLX_3162

Triple Lynx

including1113.11113.80.717.6 
 1163.71173.09.357.024.9TLX_3172



Triple Lynx



including1166.11166.60.5689100
and1170.31170.80.5108100
OSK-W-22-2605-W51339.71344.04.33.52 LX4_3445Lynx 4
OSK-W-22-2651534.0536.02.05.35 LSW_3508

Lynx SW

including535.0536.01.010.4 
 563.0565.02.05.78 LSW_3500

Lynx SW

including564.0565.01.011.1 
OSK-W-22-2652599.6601.72.19.69 LSW_3500

Lynx SW

including600.0600.40.445.4 
OSK-W-22-2656554.4556.42.019.9 LSW_3508

Lynx SW

including555.0555.50.559.1 
WST-22-1026253.6261.88.253.427.0TLX_3158



Triple Lynx



including257.6258.20.6214100
and258.2258.80.6347100
WST-22-1027234.4236.72.319.8 TLX_3131Triple Lynx
 403.0405.02.09.17 LX4_3410

Lynx 4

including403.4404.20.822.7 
WST-22-1029143.1145.12.021453.4LXM_3388

Lynx

including143.1143.40.31130100
WST-22-1032241.3247.05.712750.1TLX_3158

Triple Lynx

including243.4244.91.5370100
WST-22-1033324.9327.32.437.8 TLX_3158

Triple Lynx

including325.6326.40.890.2 
 373.0376.03.03.52 TLX_3155Triple Lynx
 467.4473.35.911244.5TLX_3172



Triple Lynx



including467.8468.40.6505100
and469.2470.00.8240100
WST-22-1034169.7173.13.426.5 LXM_3388

Lynx

including171.8172.40.656.6 
 579.0581.92.954.141.7LX4_3430

Lynx 4

including581.0581.90.9140100
WST-22-1035212.2215.02.812.2 TLX_3148Triple Lynx
 277.0279.22.223.3 TLX_3158

Triple Lynx

including278.7279.20.593.0 
WST-22-1037212.3214.32.010.4 TLX_3120

Triple Lynx

including212.9213.40.536.4 
 248.0250.22.268.446.6TLX_3158

Triple Lynx

including248.9249.91.0148100
 336.0338.22.26.37 TLX_3162

Triple Lynx

including336.6337.00.429.6 
WST-22-1038272.0275.33.35.62 TLX_3120Triple Lynx
 277.9280.22.328.418.9TLX_3158

Triple Lynx

including279.8280.20.4155100
 455.4459.03.66.28 TLX_3172

Triple Lynx

including458.5459.00.537.3 
WST-22-1039255.3258.02.725.6 TLX_3158

Triple Lynx

including256.6257.00.458.8 
WST-22-1040310.7318.37.693.961.0TLX_3158

Triple Lynx

including311.7313.11.4236100
 361.3366.75.411.2 TLX_3162

Triple Lynx

including363.1364.00.946.3 
 374.0376.32.340.725.6TLX_3162

Triple Lynx

including375.9376.30.4187100
WST-22-1041B170.0172.52.515.6 LXM_3388

Lynx

including170.6171.10.566.8 
 492.0494.02.04.21 LX4_3404

Lynx 4

including493.0493.70.78.43 
WST-22-1042309.1311.32.220.5 TLX_3158

Triple Lynx

including309.1309.50.447.6 
WST-22-1043501.4503.52.113026.7LX4_3410

Lynx 4

including502.7503.20.5536100
 529.9533.13.25.60 LX4_3411

Lynx 4

including532.6533.10.527.8 
WST-22-104457.059.22.290.227.0LXM_3388

Lynx

including58.759.20.5378100
WST-22-1045233.1236.53.47.40 TLX_3148

Triple Lynx

including236.2236.50.316.4 
WST-22-1046B403.0405.32.35.55 TLX_3162

Triple Lynx

including403.5403.80.329.7 
WST-22-104747.049.02.09.49 LXM_3354

Lynx

including48.049.01.018.7 
WST-22-104839.541.52.014420.4LXM_3354

Lynx

including40.040.40.4718100
 61.463.52.117634.0LXM_3388

Lynx

including61.962.60.7526100
WST-22-1052177.0179.02.017.7 LXM_3388

Lynx

including177.9178.40.540.6 
 514.5517.02.528.1 LX4_3430

Lynx 4

including515.1515.80.792.2 
 519.0521.02.06.81 LX4_3430Lynx 4
WST-22-105348.550.52.08.51 LXM_3388

Lynx

including50.050.50.533.8 
WST-22-1058C402.2412.510.36.41 TLX_3162

Triple Lynx

including405.6406.00.495.3 
WST-22-1061112.0114.22.215.5 TLX_3121

Triple Lynx

including113.1114.21.130.9 
WST-22-1063A175.3180.35.022.4 TLX_3148



Triple Lynx



including175.3176.31.093.6 
and179.9180.30.427.7 
 185.0187.02.05.35 TLX_3148Triple Lynx
 241.3246.24.951.746.6TLX_3158

Triple Lynx

including242.0243.01.0125100
WST-22-1065156.0158.12.17.44 LXM_3317

Lynx

including157.5158.10.618.4 
WST-22-106677.980.02.129.9 LXM_3388

Lynx

including78.578.80.378.4 
WST-22-1068190.0192.02.045.9 TLX_3161

Triple Lynx

including191.0191.30.396.7 
 580.3582.52.215127.6LX4_3430

Lynx 4

including580.3580.90.6554100
 586.0588.52.552.923.8LX4_3430

Lynx 4

including586.6587.00.4282100
WST-22-1070161.8163.92.162.438.7TLX_3121

Triple Lynx

including162.1162.80.7171100
WST-22-1071A188.0190.92.968.936.4TLX_3161

Triple Lynx

including189.2190.21.0194100
 203.8205.82.015565.5TLX_3161



Triple Lynx



including203.8204.60.8131100
and204.6205.10.5408100
 242.0244.02.05.63 TLX_3163

Triple Lynx

including243.3243.70.418.4 
 264.0266.52.59.18 TLX_3149

Triple Lynx

including264.0265.01.020.0 
WST-22-107364.567.02.55.62 LXM_3388Lynx
WST-22-1076156.6159.42.810.9 TLX_3161

Triple Lynx

including156.6156.90.374.0 
WST-22-1078100.6106.15.534.633.2TLX_3161

Triple Lynx

including100.6101.20.6101100
WST-22-1083117.0119.02.029.515.5LXM_3317

Lynx

including118.0118.30.3193100
WST-22-1085225.0231.66.66.98 TLX_3161

Triple Lynx

including227.0228.01.023.0 
 296.0299.03.04.66 TLX_3158Triple Lynx
WST-22-1090179.2181.72.563.148.7TLX_3161

Triple Lynx

including179.9180.70.8145100
WST-22-109164.567.02.53.54 LXM_3388Lynx
WST-22-1092275.0277.12.16.26 LHW_3212

Lynx HW

including276.2276.80.620.8 
WST-22-1095464.0466.02.013.4 TLX_3162

Triple Lynx

including465.1466.00.928.9 
 508.0512.04.045.030.4TLX_3172

Triple Lynx

including508.7509.20.5217100

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

Drill hole location

Hole No.Azimuth
(°)
Dip
(°)
Length
(m)
UTM EUTM NElevationSection
OSK-W-19-2108-W2117-53201345321554358584143825
OSK-W-22-2120-W4114-60133745380054357474014275
OSK-W-22-2540-W13117-60177345346654356394103925
OSK-W-22-2601-W7125-61120945342554356564123900
OSK-W-22-2605-W5112-55140145355154356694084025
OSK-W-22-2646-W8109-58125445332654356484143825
OSK-W-22-2651146-5756745298854352424173325
OSK-W-22-2652143-5563345301054352744163350
OSK-W-22-2655146-6067545297654352774113325
OSK-W-22-2656147-5667245294154352434113275
WST-22-1024131-572714537015435376-1984000
WST-22-1025122-201894535075435332-473825
WST-22-1026153-653614536465435347-1893950
WST-22-1027138-304684534445435276-993725
WST-22-1029155-401804535065435331-473825
WST-22-1032147-612684536465435347-1883950
WST-22-1033128-635084535105435330-1273825
WST-22-1034130-456254535075435331-483825
WST-22-1035122-603254537015435376-1984000
WST-22-1037163-633424536465435347-1883950
WST-22-1038170-674904536455435346-1893950
WST-22-1039113-553124537015435376-1984000
WST-22-1040134-604804535105435330-1273825
WST-22-1041B127-435854535075435331-483825
WST-22-1042108-573424537015435376-1984000
WST-22-1043133-265614533445435312-663650
WST-22-1044138-161934536475435347-1873950
WST-22-1045104-543394537025435376-1984000
WST-22-1046B124-584364535105435331-1273825
WST-22-1047130-122264536475435347-1873950
WST-22-1048139-11694536475435347-1873950
WST-22-1049129-446214535075435328-903825
WST-22-1052119-426134535065435331-483825
WST-22-1053115-13644536485435348-1873950
WST-22-1053A115-121934536485435348-1873950
WST-22-1058C121-605204535115435331-1273825
WST-22-1061160-591664536005435324-1813900
WST-22-1063A119-552914537025435377-1984000
WST-22-1065106-182384536485435348-1873950
WST-22-1066104-262374536485435348-1883950
WST-22-1068122-466284535075435328-903825
WST-22-1070167-571814536455435346-1883950
WST-22-1071A139-593934535095435330-1273825
WST-22-1073155192554537015435376-1954000
WST-22-1076177-602084535995435324-1813900
WST-22-1078186-521334535995435324-1813900
WST-22-1083123-361874537025435377-1984000
WST-22-1085134-584234535095435330-1273825
WST-22-1090145-573174535095435330-1273825
WST-22-1091152302544537015435376-1954000
WST-22-1092147-73494535105435330-1263825
WST-22-1095125-665614535105435330-1273825


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.

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 August 30, 2022, will be further described, including the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the August 30, 2022, news release, in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days, and assumes a cut-off grade of 3.50 g/t Au, comprises 811,000 tonnes at 11.4 g/t Au (297,000 ounces) in the measured mineral resource category, 10,250,000 tonnes at 11.4 g/t Au (3,754,000 ounces) in the indicated mineral resource category and 12,287,000 tonnes at 8.4 g/t Au (3,337,000 ounces) in the inferred mineral resource category. 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 areas: Lynx, Main, and Underdog. Mineralization is generally comprised of sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres, including the Triple 8 (TP8) zone. The resources excluding TP8 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 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 the Urban Barry area and nearby Quévillon area (over 2,400 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", "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; the 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; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future exploration activities, including drilling, at the Windfall gold deposit; the deposit remaining open along strike and at depth; the plunge potential of the Lynx and Underdog zones; expected grade and resource growth; cut-off grade and sensitivity analysis; and the significance of historic exploration activities and results. 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. 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. 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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