Category: Silver / Gold

Osisko Infill Drilling Windfall. Good

TORONTO, Nov. 24, 2020  -- 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. Osisko Chief Executive Officer John Burzynski commented: “We remain very pleased with Lynx’s consistent good results on grade and widths.”
 
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 27 intercepts in 10 drill holes and 9 wedges.
 
Selected high-grade intercepts from the new results include: 86.2 g/t Au over 14.5 metres in OSK-W-2256-W5; 327 g/t Au over 2.2 metres in WST-20-0569; 85.0 g/t Au over 10.8 metres in OSK-W-20-2133-W4; 94.9 g/t Au over 2.1 metres in WST-20-0508; and 71.3 g/t Au over 4.0 metres in OSK-W-2252-W5. 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
Zone Corridor
OSK-W-20-2133-W4 928.8 939.6 10.8 85.0 22.7 Lynx_331 Triple Lynx
including 931.0 933.1 2.1 420 100
OSK-W-20-2252-W5 854.7 856.9 2.2 18.6   Lynx_371 Triple Lynx
including 855.6 856.0 0.4 97.3  
  882.3 886.3 4.0 71.3 43.8 Lynx_371 Triple Lynx
including 884.1 884.6 0.5 234 100
and 885.9 886.3 0.4 375 100
OSK-W-20-2252-W7 943.6 950.1 6.5 36.0 25.8 Lynx_368 Triple Lynx
including 943.9 945.2 1.3 151 100
OSK-W-20-2256-W5 858.5 873.0 14.5 86.2 16.4 Lynx_361 Triple Lynx
including 868.1 868.4 0.3 230 100
and 868.4 868.7 0.3 3120 100
and 869.0 869.3 0.3 321 100
OSK-W-20-2275-W2 906.6 910.3 3.7 7.56   Triple Lynx
 
Triple Lynx
 
including 909.0 909.5 0.5 25.7  
OSK-W-20-2280-W2 998.4 1001.1 2.7 11.2   Lynx_368 Triple Lynx
  1027.9 1031.3 3.4 5.60   Lynx_363 Triple Lynx
including 1027.9 1028.3 0.4 28.3  
OSK-W-20-2295-W2 654.0 656.0 2.0 16.1   Lynx_376 Triple Lynx
including 654.5 655.0 0.5 51.9  
OSK-W-20-2295-W3 697.0 699.0 2.0 5.11   Triple Lynx Triple Lynx
including 698.1 698.5 0.4 22.8  
OSK-W-20-2313-W2 986.3 988.3 2.0 6.69   Triple Lynx Triple Lynx
OSK-W-20-2339 608.3 610.5 2.2 8.59   Triple Lynx Triple Lynx
WST-20-0473 101.0 103.0 2.0 12.3   Lynx_304 Lynx
including 102.5 103.0 0.5 48.6  
WST-20-0486 93.0 95.0 2.0 5.03   Lynx_323 Lynx
WST-20-0487 103.7 106.0 2.3 25.2   Lynx_359 Lynx
including 104.4 105.0 0.6 53.2  
WST-20-0500 132.0 134.5 2.5 10.1   Lynx_304 Lynx
including 132.9 133.6 0.7 35.9  
WST-20-0506 82.7 85.1 2.4 6.21   Lynx_311 Lynx
WST-20-0508 51.4 53.5 2.1 6.01   Lynx_311 Lynx
including 52.8 53.1 0.3 37.7  
  70.5 72.8 2.3 9.05   Lynx_323 Lynx
  77.4 80.0 2.6 4.45   Lynx_308 Lynx
including 77.7 78.1 0.4 21.9  
  93.9 96.0 2.1 94.9 22.0 Lynx_304 Lynx
including 93.9 94.3 0.4 483 100
  109.0 111.2 2.2 19.2   Lynx_359 Lynx
including 110.7 111.2 0.5 71.7  
WST-20-0511 82.5 88.4 5.9 15.6   Lynx_308 Lynx
including 83.4 84.0 0.6 79.7  
  92.0 94.0 2.0 9.36   Lynx_304 Lynx
including 93.6 94.0 0.4 45.0  
WST-20-0515 156.0 158.0 2.0 24.4 20.4 Lynx_323 Lynx
including 157.0 157.4 0.4 120 100
  169.0 171.0 2.0 25.0 21.0 Lynx_304 Lynx
including 169.0 169.4 0.4 120 100
WST-20-0569 310.5 312.7 2.2 327 28.2 Lynx_356 Lynx
including 310.5 311.1 0.6 1195 100

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 Number Azimuth
(°)
Dip
(°)
Length
(m)
UTM E UTM N Elevation Section
OSK-W-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2252-W5 129 -54 1092 453241 5435694 415 3750
OSK-W-20-2252-W7 129 -54 1089 453241 5435694 415 3750
OSK-W-20-2256-W5 125 -51 1022 453160 5435686 414 3675
OSK-W-20-2275-W2 127 -49 1035 452886 5435584 409 3400
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2295-W2 132 -51 963 452938 5435472 415 3375
OSK-W-20-2295-W3 132 -51 969 452938 5435472 415 3375
OSK-W-20-2313-W2 134 -52 1047 452965 5435583 420 3450
OSK-W-20-2339 144 -50 1025 452960 5435442 415 3400
WST-20-0473 149 -16 202 453493 5435287 117 3775
WST-20-0486 130 -37 162 453359 5435209 154 3625
WST-20-0487 140 -5 177 453358 5435208 155 3625
WST-20-0500 139 -30 166 453228 5435126 135 3475
WST-20-0506 175 20 141 453357 5435208 156 3625
WST-20-0508 136 -12 138 453316 5435165 124 3575
WST-20-0511 137 8 162 453316 5435165 125 3575
WST-20-0515 158 -33 186 453418 5435305 68 3725
WST-20-0569 165 -59 526 453104 5435065 231 3325

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
Truewidthdeterminationisestimatedat55-80%ofthereportedcorelengthintervalforthezone.Assaysareuncutexceptwhere 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, QualityAssurance/QualityControl("QA/QC")andinterpretationofresultsisperformedbyqualifiedpersonsemployingaQA/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 inEeyou 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 estimatedisclosed 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 43-101available 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 occursinthreeprincipalzones:Lynx,Main Zone,andUnderdog.Mineralization is generallycomprised ofdeformed sub-vertical zonesplunging to the northeast.Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusionsand are spatially associated with the contacts of the intrusions.Thedepositiswelldefinedfromsurfacetoadepthof1,200metresandremainsopen alongstrikeandatdepth.Mineralizationhasbeenidentified30metresfromsurfaceinsomeareasandasdeepas2,000metres in others, with significant potential to extend mineralization down-plunge and atdepth.

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 ChibougamauinQuébecandholdsa100%undividedinterestinalargeareaofclaimsinthesurroundingUrbanBarryarea and nearby Quévillon area (over 2,700 squarekilometres).

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 

Videos / Webinars

View all videos