Osisko Windfall Infill Drilling: Still Good

2021-01-06 / @nasdaq

 

New Intercepts Include 206 g/t Au over 2.0 Metres

TORONTO, Jan. 06, 2021 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to provide new analytical results from the ongoing expansion and definition 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, with the near-term objective of completion of the infill program in preparation for feasibility work. Osisko Chief Executive Officer John Burzynski commented: “We anticipate a busy year ahead as we maintain the steady drill pace of 2020 and work towards the completion of infilling our resource. The principal mineralized zones also remain open down plunge, and near deposit exploration is continuing to give encouraging results, which we believe will lead to new mineralized extensions and additions.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 90 intercepts in 25 drill holes and 23 wedges.

Selected high-grade intercepts from the new results include: 206 g/t Au over 2.0 metres in WST-20-0581; 60.0 g/t Au over 2.0 metres in WST-20-0498; 52.9 g/t Au over 2.8 metres in WST-20-0513; 47.5 g/t Au over 2.2 metres in OSK-W-20-2334; 42.4 g/t Au over 2.3 metres in WST-20-0523A; 40.4 g/t Au over 3.6 metres in OSK-W-20-2133-W4. 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)
uncut
Au (g/t)
cut to 100 g/t
ZoneCorridor
OSK-W-20-2133-W4798.8802.43.640.4 Triple Lynx

Triple Lynx

including799.2800.21.073.3 
OSK-W-20-2243-W6804.7806.82.19.02 Lynx_361Triple Lynx
 851.4854.83.423.5 Triple Lynx

Triple Lynx

including853.1853.90.868.9 
OSK-W-20-2252-W7842.6849.06.46.93 Triple Lynx

Triple Lynx

including844.8845.10.341.7 
 879.1881.82.74.62 Lynx_371

Triple Lynx

including879.4879.70.316.0 
 885.0889.04.04.70 Lynx_371Triple Lynx
 893.9896.72.85.67 Lynx_371Triple Lynx
 919.7923.03.34.45 Lynx_361

Triple Lynx

including919.7920.00.313.3 
OSK-W-20-2256-W41012.01014.02.014.6 Triple LynxTriple Lynx
OSK-W-20-2256-W6868.8872.63.824.4 Lynx_371

Triple Lynx

including869.7870.30.679.5 
 875.0879.04.04.91 Lynx_371Triple Lynx
 883.0892.09.018.2 Lynx_361

Triple Lynx

including887.6888.30.757.6 
OSK-W-20-2256-W7869.4872.02.64.86 Lynx_361Triple Lynx
 899.0901.02.015.4 Triple Lynx

Triple Lynx

including899.6900.00.469.4 
OSK-W-20-2264782.2790.07.810.5 Lynx_330

Lynx

including786.9787.60.738.4 
OSK-W-20-2271-W1847.5849.52.04.50 LynxLynx
OSK-W-20-2271-W21024.51026.92.432.1 Lynx_330

Lynx

including1026.61026.90.390.1 
 1064.01066.12.16.13 Lynx_334

Lynx

including1065.21065.60.420.3 
 1077.01079.02.05.15 Lynx_334Lynx
OSK-W-20-2275-W3899.0901.02.010.8 Triple Lynx

Triple Lynx

including900.3900.70.443.3 
OSK-W-20-2275-W4635.0637.12.17.18 Lynx_365

Triple Lynx

including636.1636.50.425.6 
 804.8810.45.611.8 Triple Lynx

Triple Lynx

including806.3806.90.655.1 
 835.0837.02.011.1 Triple Lynx

Triple Lynx

including835.6836.00.454.7 
 889.5892.02.55.40 Triple Lynx

Triple Lynx

including890.4891.00.622.4 
OSK-W-20-2280-W21102.71105.02.35.46 Lynx_370

Triple Lynx

including1103.51104.00.520.9 
OSK-W-20-2280-W31099.21101.32.15.22 Triple Lynx

Triple Lynx

including1101.01101.30.317.7 
 1103.01108.95.94.92 Triple Lynx

Triple Lynx

including1108.61108.90.318.2 
 1112.91116.03.120.1 Lynx_370

Triple Lynx

including1112.91113.50.677.8 
OSK-W-20-2280-W41040.01042.02.06.32 Triple LynxTriple Lynx
 1044.01046.02.04.83 Triple LynxTriple Lynx
including1044.61044.90.324.6 Triple LynxTriple Lynx
 1072.91077.54.612.8 Triple Lynx

Triple Lynx

including1075.51075.90.497.2 
 1091.21098.06.83.96 Triple LynxTriple Lynx
 1100.71105.04.313.512.7Lynx_364

Triple Lynx

including1100.71101.00.3112100
 1109.71114.04.316.915.7Lynx_364

Triple Lynx

including1109.71110.00.3117100
OSK-W-20-2280-W51010.51016.05.53.61 Lynx_363Triple Lynx
 1039.01041.02.022.4 Lynx_364

Triple Lynx

including1039.51040.00.581.8 
 1046.01052.06.030.423.7Lynx_364

Triple Lynx

including1047.81049.01.212995
 1054.01059.95.914.7 Lynx_364

Triple Lynx

including1059.21059.90.782.8 
 1093.01096.03.012.0 Triple LynxTriple Lynx
OSK-W-20-2283-W1807.0809.62.68.20 Triple Lynx

Triple Lynx

including807.5809.62.19.02 
OSK-W-20-2283-W2814.8817.12.38.16 Triple Lynx

Triple Lynx

including816.6817.10.526.8 
 832.7835.02.36.13 Triple LynxTriple Lynx
 991.0993.02.09.11 Triple Lynx

Triple Lynx

including991.3991.80.535.7 
OSK-W-20-2283-W6831.6836.04.417.6 Lynx_361

Triple Lynx

including833.3834.61.340.6 
OSK-W-20-2292-W4892.0894.92.94.02 Lynx_375

Triple Lynx

including893.1893.80.710.3 
OSK-W-20-2295-W2679.7682.02.324.717.4Triple Lynx

Triple Lynx

including681.7682.00.3157100
OSK-W-20-2295-W3660.3662.32.03.89 Triple LynxTriple Lynx
OSK-W-20-2295-W4670.1673.13.05.99 Triple Lynx

Triple Lynx

including670.1670.60.516.6 
 698.0700.12.14.33 Triple Lynx

Triple Lynx

including699.8700.10.323.7 
 757.0759.32.34.08 Triple Lynx

Triple Lynx

including757.0757.50.510.1 
 822.5824.52.03.90 Triple Lynx

Triple Lynx

including823.5824.00.514.1 
 841.0843.02.05.77 Triple Lynx

Triple Lynx

including841.4841.70.331.5 
OSK-W-20-2313-W5819.9822.02.17.49 Lynx_376Triple Lynx
OSK-W-20-2322-W11119.81124.64.87.20 Lynx_330

Lynx

including1120.51121.20.713.8 
OSK-W-20-23341007.11009.32.247.541.7Lynx_330

Lynx

including1008.01008.40.4132100
OSK-W-20-236759.062.03.06.38 Lynx_335Lynx SW
WST-20-0406130.2132.42.23.26 Lynx_322Lynx
WST-20-048657.563.76.215.1 Lynx_303



Lynx



including58.559.00.547.1 
and59.760.10.446.1 
 114.0116.02.010.5 Lynx_304

Lynx

including115.4116.00.627.6 
WST-20-0498123.5125.72.23.84 Lynx_304Lynx
 132.5134.52.060.041.3Lynx_304

Lynx

including133.8134.50.7154100
WST-20-050273.476.02.64.73 Lynx_311Lynx
WST-20-050357.959.92.018.6 Lynx_311

Lynx

including57.958.70.846.1 
WST-20-0505A84.587.02.59.07 Lynx_307

Lynx

including84.584.80.372.4 
 233.5236.02.53.00 Lynx SWLynx SW
WST-20-0506123.2125.52.37.83 Lynx_304

Lynx

including123.9124.70.822.4 
WST-20-050994.496.52.14.24 Lynx_304

Lynx

including94.494.70.313.9 
WST-20-051248.250.22.08.84 Lynx_303

Lynx

including49.349.90.629.1 
 54.056.02.021.1 Lynx_311

Lynx

including54.955.40.583.8 
WST-20-0513138.0140.82.852.944.5Lynx_323

Lynx

including139.0139.90.9126100
 151.8154.02.23.67 Lynx_304Lynx
WST-20-0514141.0143.02.020.9 Lynx_323

Lynx

including141.0142.01.032.5 
WST-20-0523A67.269.42.214.8 Lynx_311

Lynx

including67.768.40.744.8 
 72.074.32.342.4 Lynx_311

Lynx

including73.574.30.890.4 
WST-20-0525142.0144.02.013.3 Lynx_323

Lynx

including142.0143.01.026.4 
WST-20-053784.987.12.26.49 Lynx

Lynx

including86.487.10.716.1 
WST-20-0538105.0107.22.215.0 Lynx_304

Lynx

including105.3105.80.564.4 
 117.0120.03.04.15 LynxLynx
WST-20-053945.948.22.36.89 Lynx_303Lynx
 96.698.62.020.6 Lynx_304

Lynx

including97.097.50.580.2 
WST-20-054051.353.52.23.12 Lynx_303Lynx
 111.0113.22.27.86 Lynx_304

Lynx

including111.0111.30.347.2 
WST-20-054145.848.12.310.0 Lynx_303

Lynx

including46.447.20.825.6 
 60.162.32.213.8 Lynx

Lynx

including60.961.70.834.3 
 98.0100.02.015.7 Lynx_304

Lynx

including99.099.50.536.3 
WST-20-054452.755.52.872.055.8Lynx_303

Lynx

including52.754.11.4132100
WST-20-0563129.4131.52.14.72 Lynx_365

Triple Lynx

including129.4130.00.615.1 
WST-20-057958.060.52.55.62 Lynx_303Lynx
WST-20-0581268.4274.05.64.56 Lynx SWLynx SW
 283.0285.02.020645.4Lynx SW

Lynx SW

including283.0283.90.9458100

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-20-2133-W4118-4998745308054355314173525
OSK-W-20-2243-W6122-5496545308654355264173550
OSK-W-20-2252-W7129-54119145324154356944153750
OSK-W-20-2256-W4125-51112245316054356864113675
OSK-W-20-2256-W6125-51115745316054356864113675
OSK-W-20-2256-W7125-51100545316054356864113675
OSK-W-20-2264292-74111945412754350623964225
OSK-W-20-2271-W1120-53120045346254356834103950
OSK-W-20-2271-W2120-53122345346254356834103950
OSK-W-20-2275-W3127-49105045288854355834093400
OSK-W-20-2275-W4127-49105245288854355834093400
OSK-W-20-2280-W2127-58121145330454356394153775
OSK-W-20-2280-W3127-58119145330454356394153775
OSK-W-20-2280-W4127-58121545330454356394153775
OSK-W-20-2280-W5127-58113445330454356394153775
OSK-W-20-2283-W1135-50103545299754356074253500
OSK-W-20-2283-W2135-50101145299754356074253500
OSK-W-20-2283-W6135-5095745299754356074253500
OSK-W-20-2292-W4125-5498445303554355614203525
OSK-W-20-2295-W2132-5196345293354354734153375
OSK-W-20-2295-W3132-5196945293354354734153375
OSK-W-20-2295-W4132-51108245293354354734153375
OSK-W-20-2313-W5134-52108645296554355834203450
OSK-W-20-2322-W1130-54123345360854357154034075
OSK-W-20-2334125-53116645339754355574133825
OSK-W-20-2367349-4627945274254347613982875
WST-20-0406135-820245349454352871173775
WST-20-0486130-3716245335954352091543625
WST-20-0498132-1116945322854351261363475
WST-20-0502144-4011545310554350652313325
WST-20-050314869945310554350652323325
WST-20-0505A183-4533145322754351251343475
WST-20-05061752014145335754352081563625
WST-20-0509126-2014845331654351661243575
WST-20-0512159-1013945331554351641253575
WST-20-0513147-251844534185435305693725
WST-20-0514154-261814534185435305693725
WST-20-0523A166-4638745310454350652313325
WST-20-0525165-201874534185435305693725
WST-20-0537132-3213945331654351661243575
WST-20-0538130-3714245331654351661243575
WST-20-0539122-2913945331654351661243575
WST-20-0540129-4214745331654351661243575
WST-20-0541150-2813845331554351651243575
WST-20-0544144-4314445331554351651243575
WST-20-0563324-402484532555435214963525
WST-20-0579162-3814445331554351651243575
WST-20-0581181-6047445317754351261733425

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.

Triple Lynx
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 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 a four acids digestion -MS61 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
Chief Executive Officer
Telephone (416) 363-8653


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