Month: March 2019

Not for distribution to United States newswire services or for release, publication, distribution or dissemination, directly or indirectly, in whole or in part, in or into the United States

(Toronto, March 27, 2019) Osisko Mining Inc. (OSK:TSX, “Osisko“) and Chantrell Ventures Corp. (NEX:CV.H, “Chantrell”) are pleased to provide further details regarding the binding letter agreement made at arm’s length between them dated as of February 19, 2019 (the “Letter Agreement”), as previously announced on February 20, 2019. The Letter Agreement outlines the proposed terms and conditions upon which Osisko will effect a business combination that will result in a reverse takeover of Chantrell by Osisko (the “Proposed Transaction”).  Unless otherwise noted, references to “$” or dollars in this press release are to Canadian dollars.

Chantrell is a corporation under the laws of British Columbia with its securities listed on the NEX Board of the TSX Venture Exchange.  It has 24,011,587 common shares outstanding and options to acquire 1,780,000 common shares outstanding.  These securities will be subject to the consolidation described below.

Description of Subject Assets

The Osisko assets to be acquired pursuant to the Proposed Transaction include: (i) the Marban deposit (located in Québec’s Abitibi gold mining district between Val-d’Or and Malartic); (ii) the Garrison deposit (located in the Larder Lake Mining Division in north east Ontario); (iii) certain other exploration properties; and (iv) a portfolio of selected marketable securities (collectively, the “Transferred Assets”).

(i) Garrison

On February 19, 2019, Osisko provided a mineral resource estimate for its 100% owned Garrison gold deposit, located in Garrison Township, Ontario. This mineral estimate is the result of 1,115 drill holes (342,874 metres) in the resource area completed by previous operators on the project since 1985 and includes 197 new drill holes (87,251 metres) completed by Osisko between 2016 to July 2018.  Osisko expects to file a full technical report in relation to the Garrison deposit shortly.

Osisko acquired Garrison through its acquisition of Northern Gold Mining Inc. on December 22, 2015.

Details regarding the Garrison project are set out in a technical report prepared pursuant to National Instrument 43-101, entitled “Technical Report on the Golden Bear Project – Garrison Property: Larder Lake Mining Division, Garrison Township, Ontario, Canada”) dated December 30, 2013, with an effective date of December 30, 2013 which is filed on www.sedar.com under the profile of Northern Gold Mining Inc.

 

(ii) Marban

Portions of the Marban deposit located in Québec’s Abitibi gold mining district between Val-d’Or and Malartic hosted historic gold mining operations from 1965 to 1966 and 1989 to 1992.

The Marban deposit was acquired by Osisko when it acquired NioGold Mining Corporation in 2016.

Details regarding the Marban deposit may be found in the technical report prepared pursuant to National Instrument 43-101 entitled “Updated Mineral Resource Technical Report, Marban Block Property, Quebec, Canada” dated August 15, 2013 (effective date: June 1, 2013), which is filed on www.sedar.com under the profile of NioGold Mining Corporation.

 

(iii) Other Assets

Other exploration assets of Osisko are included in the transaction with a value of approximately $5 million.

The subject marketable securities are all shares and warrants in public and private companies which are valued at approximately $10 million.

All values are the $ book value of the assets as held by Osisko, valued in a manner consistent with the value such assets are carried on the audited financial statements, with the exception of the securities which are valued at current market prices.

Financial information for both Chantrell and Osisko is available on their respective SEDAR profiles at www.sedar.com.

 

Terms of the Proposed Transaction

 The Proposed Transaction will be completed by way of plan of arrangement with approval of shareholders of Chantrell. The final structure of the Proposed Transaction will be described in an information circular of Chantrell which will be mailed to shareholders in connection with the meeting to consider the Proposed Transaction. The Osisko assets to be transferred include the Marban deposit, Garrison deposit, exploration properties and a portfolio of selected securities. Pursuant to the Proposed Transaction, the Transferred Assets will be transferred at a value of approximately $99.9 million to Chantrell in exchange for approximately 25,747,000 post consolidation shares of Chantrell.  Osisko intends to continue to be a shareholder, and control person of the issuer following completion of the Proposed Transaction.

Completion of the Proposed Transaction is subject to a number of conditions, including, without limitation, negotiation and execution of definitive documentation, receipt of all necessary shareholder, third party and regulatory approvals, satisfactory completion of due diligence, and conditional listing approval to list the resulting issuer (the “Resulting Issuer”) on the TSX Venture Exchange under the category of Mining Issuer.

In connection with the Proposed Transaction, Chantrell will be required to, among other things: (i) change its name to “O3 Mining Corporation” or such other name as may be acceptable to applicable regulatory authorities; (ii) replace all directors and officers on closing of the Proposed Transaction; (iii) receive conditional listing approval for the Resulting Issuer on the TSX Venture Exchange; (iv) consolidate its common shares on a 40:1 basis, subject to adjustment; (v) cooperate in the offering of Subscription Receipts; and (vi) seek a waiver or exemption from the TSX Venture Exchange’s sponsorship requirements. Chantrell may, from time to time, acquire further assets in exchange for shares or cash in connection with the Proposed Transaction.

The Proposed Transaction does not constitute a non-arm’s length transaction.

The initial officers of the Resulting Issuer are proposed to be Jose Vizquerra, President and Chief Executive Officer, and Blair Zaritsky, Chief Financial Officer.  Biographies of the President and Chief Financial Officer are as follows:

Jose Vizquerra-Benavides: President, Chief Executive Officer and Director: Mr. Vizquerra is currently Executive Vice President of Strategic Development & Director at Osisko Mining. For over four years, Mr. Vizquerra served as the President & CEO of Oban Mining Corp. (“Oban”), where they successfully changed the business strategy that resulted in Oban’s acquisition of Corona Gold Corporation, Eagle Hill Exploration Corp. and Ryan Gold Corp. to form what is now Osisko. Mr. Vizquerra previously worked as Head of Business Development for Compania de Minas Buenaventura, prior to which he worked as production and exploration geologist at the Red Lake gold mine. He is currently a board member of Alio Gold Inc., Sierra Metals Inc. and Discovery Metals Corp. Mr. Vizquerra holds a M.Sc. from Queens University in MINEX, and is a Qualified Person (AIGP). Mr Vizquerra is currently advancing the General Management Program (GMP) at the Wharton School of Business. Mr. Vizquerra was awarded the Peter Munk Award for Young Mining Professional of the Year in 2018 by the Young Mining Professionals.

Blair Zaritsky: Chief Financial Officer: Blair Zaritsky is a chartered professional accountant with more than 15 years of professional experience, of which have been mostly in the mining sector. Blair joined Osisko in June 2012 and completed the Initial Public Offering shortly after in December.  In August 2015, he was a key part of the successful merger of four companies that helped obtain the flagship Windfall Lake assets that has significantly grown Osisko to over $1-billion market capitalization. Blair joined INV Metals in 2008 as a Corporate Controller and developed and managed all accounting and legal functions in both Namibia and Brazil.  Prior to INV Metals Inc., Blair worked as a Senior Manager for Collins Barrow LLP (now RSM Richter Inc.).  Blair is currently a member of the CPA Canada-PDAC IFRS committee that produces Viewpoints on IFRS accounting issues for the mining industry. Blair received his C.A. designation in 2003 with Collins Barrow LLP (now RSM Richter Inc.) and holds a Bachelor of Arts, (Hons.) Economics from the University of Western and a Bachelor of Accounting, (Hons.) from the University of Brock.

In addition to Mr. Vizquerra, the board is proposed to include John F. Burzynski, Keith McKay, Bernardo Alverez Calderon, Amy Satov, and Murray John.  The board will be majority independent.  All of the initial directors, other than Mr. John, also serve on the Board of Osisko.

John F. Burzynski: Chairman: Mr. Burzynski holds a Bachelor of Science (Honours) degree in geology from Mount Allison University, and a Master of Science in exploration and mineral economics (MINEX) degree from Queen’s University. He is a registered P.Geo. in the province of Québec, and has over 35 years experience as a professional geologist on international mining and development projects. As well as serving as President and Chief Executive officer of Osisko, John has been a Director of Osisko Gold Royalties Ltd since its inception in June 2014. Mr. Burzynski was one of the three original founders of Osisko Exploration/Osisko Mining Corp., and up until 2014 was the Vice President, Business Development. Among other awards, Mr. Burzynski was a co-winner together with Sean Roosen and Robert Wares of the Prospectors and Developers Association of Canada’s “Prospector of the Year Award” for 2007 and the Northern Miner’s “Mining Men of the Year” for 2009. John currently serves as a Director with Osisko Mining Inc., Osisko Gold Royalties Ltd., Barkerville Gold Mines Ltd., Osisko Metals Inc. and Major Drilling.

Keith McKay: Director: Mr. McKay is a Chartered Professional Accountant with extensive experience in the mining industry, including public company reporting requirements, financing, and merger and acquisition transactions. Mr. McKay was previously the Chief Financial Officer at Continental Gold Limited, Chief Financial Officer of Andina Minerals Inc., Vice President and Chief Financial Officer at Aurelian Resources Ltd., Senior Vice President of Financial Operations with an international engineering and project management services firm and Controller at Rio Algom Ltd.

Bernardo Alvarez Calderon: Director: Mr Alvarez Calderon is founder and CEO of Analytica Mineral Services where he has managed the exploration, development and operation of 3 underground gold mines currently operating in Peru. He has also been actively involved in mineral exploration throughout Peru.  Mr Alvarez Calderon holds a Bachelor of Science in geological engineering from the Colorado School of Mines and has taken the Owners/President Management Program at the Harvard Business School.

Amy Satov: Director: Ms. Satov, B.A., LL.B., M.B.A. is the Chief Executive Officer and co-founder of Litron Distributors Ltd., a national lighting distributor. Founded in Montreal, Litron expanded across Canada in 2014, adding locations in Halifax, Ottawa, Toronto, Saskatoon, Calgary and Edmonton. Litron has experienced exponential growth since inception.

For the 12 years prior to Litron, Ms. Satov was the Executive Vice President of Legal, Compliance and Distribution and Corporate Secretary of Dundee Wealth, a wealth management company with $80 billion dollars of assets under management that was acquired by The Bank of Nova Scotia in 2011. In her role as EVP, she was in charge of all legal and compliance matters, was actively involved in Dundee Wealth’s expansion into Europe and the U.S. and sat on various subsidiary boards. Ms. Satov advised on all M&A activities as well as securities, regulatory and all other corporate commercial matters. In 2010 Ms. Satov was recognized by Strathmore’s “Who’s Who” for excellence and achievement in her profession. Ms. Satov is also a member of the McGill University Chancellor’s Advisory Group. Ms. Satov is a director and the Chair of the Corporate Governance Committee for Osisko Metals Inc.

Murray John: Director: Mr. John is a director of Discovery Metals Corp. Prior to retirement in December 2015, Mr. John was President and Chief Executive Officer of Dundee Resources Limited, a private resource-focused investment company and Managing Director and a portfolio manager with Goodman Investment Counsel, where he was responsible for managing resource and precious metals focused mutual funds and Flow-Through Limited Partnerships. Mr. John is a former President and Chief Executive Officer of both Corona Gold Corporation and Ryan Gold Corp., and a former director of Dundee Precious Metals Inc., Osisko, and of several other public companies. He has been involved with the resource investment industry since 1992 and has worked as an investment banker, buy-side mining analyst, sell-side mining analyst and portfolio manager. Mr. John graduated from the Camborne School of Mines in 1980 and has extensive industry experience working as a mining engineer for Strathcona Mineral Services Ltd., Nanisivik Mines Ltd. and Eldorado Nuclear Limited. He also received a Master of Business Administration from the University of Toronto in 1992.

Proposed Financing

On February 21, 2019, Chantrell announced that it has entered into an agreement with Canaccord Genuity Corp. (the “Lead Underwriter”) and a syndicate of underwriters (together with the Lead Underwriter, the “Underwriters”) to issue, on a bought deal private placement basis, 3,100,000 subscription receipts (the “Subscription Receipts”) at a price of $3.88 per Subscription Receipt (the “Issue Price”) in the capital of Chantrell for aggregate gross proceeds of approximately $12,028,000 (the “Offering”).  The Offering has been upsized and is anticipated to be a minimum of $18,266, 217.

Each Subscription Receipt will be automatically converted, without payment of additional consideration, into one unit in the capital of Chantrell (a “Unit”) in connection with the completion of the proposed business combination between Chantrell and Osisko that will result in a reverse takeover of Chantrell by Osisko to form the Resulting Issuer.  The gross proceeds of the Offering (including commissions and expenses) will be held in escrow pending satisfaction of the escrow release conditions which includes completion of the Proposed Transaction. In the event that the Offering is not completed, the gross proceeds will be returned to subscribers. The Underwriters will be paid a cash commission equal to 5.0% of the gross proceeds and receive broker warrants to acquire such number of shares as are equal to 5.0% of the Subscription Receipts issued.

Each Unit shall be comprised of one post-consolidation common share in the capital of Chantrell (a “Common Share”) and one post-consolidation warrant of Chantrell (a “Warrant”).  Each Warrant will be exercisable to acquire one additional Common Share (a “Warrant Share”) for a period of 36 months following the effective date of the Proposed Transaction at an exercise price of $4.46 per Warrant Share.

The net proceeds from the Offering will be used by the Resulting Issuer for exploration and development of the Marban and Garrison deposits as well as general corporate purposes.

The Subscription Receipts will be issued on a private placement basis in certain provinces of Canada, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws and such other jurisdictions as may be mutually agreed upon by Canaccord Genuity and Chantrell.

It is anticipated that the Offering will close on March 27, 2019 and anticipated closing of the Reverse takeover in May, 2019.

The Offering remains subject to approval of the TSX Venture Exchange.

Trading Halt

Trading of Chantrell’s common shares will be halted pending further filings with the TSX Venture Exchange.  Further information will be press released by Chantrell when available.

Technical Information 

The scientific and technical content of this press release has been reviewed and approved by Mr. Pascal Simard, Eng, B.Sc. Exploration Manager, Northern Quebec for Osisko Mining Inc, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

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% in the high-grade Windfall Lake 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 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Quebec and Ontario.

Cautionary Statement

 Completion of the Proposed Transaction is subject to a number of conditions, including but not limited to TSX Venture Exchange acceptance and, if applicable disinterested shareholder approval. Where applicable, the Proposed Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Definitive Agreement will be executed or that the Proposed Transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Chantrell should be considered highly speculative.

 The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this news release.

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. The information in this news release about the Proposed Transaction; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to 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”, “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 forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of the parties to execute the Proposed Transaction. 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, the parties cannot assure shareholders and prospective purchasers of securities 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 party nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Neither party undertakes, 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:

Osisko Mining Inc.
John Burzynski
President & Chief Executive Officer
(416) 363-8653

Chantrell Ventures Corp.
Paul Parisotto
President, CEO  and Director
416.874.1702.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

(Toronto, March 26, 2019)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to announce positive results of its hole-to-hole induced polarization (“IP”) survey conducted in the Triple 8 Zone, at its 100% owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

Osisko recently used the three deep Triple 8 discovery holes (OSK-W-18-1603-W2, OSK-W-18-1616-W2 and OSK-W-18-1783) to conduct a hole-to-hole IP survey. The purpose of the survey was to attempt to outline the chargeability signature of the Triple 8 Zone; to test the lateral extension of the hole-to-hole method; and to outline new deep drill targets. The survey was successful in all aspects, and the Company intends to conduct additional hole-to-hole IP survey work to investigate the deep extensions in other areas of the Windfall deposit. The hole-to-hole IP survey and the 3D IP inversion were performed by Abitibi Geophysics Inc. from Val D’Or, Québec.

 

Osisko Mining President and Chief Executive Officer John Burzynski commented: “We are very excited about the off-hole targets developed using the 3D IP inversion, and the potential to use downhole geophysics to continue to outline the growing potential of the Windfall deposit at depth.  We are convinced that as we advance deep exploration we will be able to grow Windfall into the same World Class category as other historic, high-grade and long-life underground mines in the Canadian Archean.  Windfall has consistently shown us that the more exploration we conduct, the more new mineralization we discover – it’s the sign of a great deposit.”

 

Triple 8 mineralization typically consists of 10% to 30% disseminated pyrite and stringers with local visible gold in an altered andesite with local pervasive silicification and sericitization, surrounded by peripheral chlorite-biotite+/-garnet alteration.  The Triple 8 Zone and the mineralized corridor responded positively to chargeability and were detected by the hole-to-hole method. Three chargeability and resistivity profiles were interpreted by pairing holes.  The known mineralization was detected in the 600 metres apart pair, and subsequently validated by the two pairs approximatively 300 metres apart. The hole-to-hole method has shown to have good potential to define targets at depth and in the lateral extensions of the Windfall deposit.

 

Interpretation of the chargeability and resistivity profiles, and generation of a 3-dimensional data inversion highlighted two principal target areas for further exploration. The first area is located between hole OSK-W-18-1783 and OSK-W-18-1616-W2 and consists of a high chargeability centre interpreted over 300 metres wide. The second main target is approximatively 100 metres north of OSK-W-18-1603-W2.

 

Osisko intends to follow up the downhole IP survey with continued deep exploration drilling at Triple 8 in 2019.

 

Maps showing hole locations and the geophysical interpretation are available at www.osiskomining.com.

 

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Section
OSK-W-18-1603-W2	35	-80	1743	453340	5434543	3275
OSK-W-18-1616-W2	40	-85	2293	454135	5435058	4225
OSK-W-18-1783	61	-78	2224	453534	5434376	3375

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”).

 

About the Windfall Lake Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in (i) the Windfall Lake Technical Report (as defined below), and (ii) the Lynx Resource Press Release (as defined below), comprises 2,874,000 tonnes at 8.17 g/t Au (754,000 ounces) in the indicated mineral resource category and 10,352,000 tonnes at 7.11 g/t Au (2,366,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall gold project, please see (i) the technical report entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Windfall Lake Technical Report”), and (ii) the press release of Osisko dated November 27, 2018 and entitled “Osisko Releases Mineral Resource Update for Lynx”, which has been prepared by Osisko and reviewed and approved by Micon International, Ltd. from Toronto, Ontario (the “Lynx Resource Press Release”). The Windfall Lake Technical Report and Lynx Resource Press Release are available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com. The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 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 Lake 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 Quevillon area (over 3,300 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. The information in this news release about the Windfall gold deposit being one of the highest grade resource-stage gold projects in Canada; the significance of the downhole induced polarization survey;  the deposit remaining open along strike and at depth; potential depth extensions of the mineralized zones down-plunge and at depth; the positive results of hole-to-hole induced polarization survey conducted in the Triple 8 zone; the reliability of 3D induced polarization inversion; the potential to use downhole geophysics to continue to outline the deposit; Windfall being in the same World Class category as other historic, high-grade and long-life underground mines in the Canadian Archean; these results being the sign of a great deposit; plans to conduct further downhole induced polarization exploration; the actual mineralization of local visible gold; the current 800,000 metre drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to 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”, “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 forward-looking information is based on reasonable assumptions and estimates of management of the Corporation at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by 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 interests in the Windfall gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; 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.

 

 

 

 

For further information please contact:

John Burzynski
President and Chief Executive Officer

Telephone: (416) 363-8653

224 g/t Au Over 2.8 Metres

(Toronto, March 21, 2019)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new infill drilling results from its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. The new results are from the general area being considered for the planned bulk sample in the Lynx deposit.  A closely spaced infill drill program (approximately 10 metres x 10 metres) has been designed to increase the geological control and grade definition to further test and select the location for the bulk test. The definition program is in progress, and the location of the Lynx bulk sample will be chosen on completion of the program in the coming months.  Highlights include:

 

224 g/t Au over 2.8 metres and

77.9 g/t Au over 2.1 metres in OSK-W-18-1804;

51.2 g/t Au over 3.2 metres in OSK-W-18-1812;

43.7 g/t Au over 3.2 metres in OSK-W-19-1850;

56.0 g/t Au over 2.2 metres in OSK-W-19-1865;

38.6 g/t Au over 2.2 metres in OSK-W-19-1855;

32.6 g/t Au over 2.4 metres in OSK-W-18-1811;

18.0 g/t Au over 4.7 metres in OSK-W-18-1807; and

28.6 g/t Au over 2.3 metres in OSK-W-19-1860.

Maps showing hole locations, and full analytical results are available at www.osiskomining.com. Significant new analytical results from 19 intercepts in 11 drill holes are presented below.

 

Hole Number	From (m)	To (m)	Interval (m)	Au (g/t) uncut	Au (g/t) cut to 100 g/t	Type	Mineralized Zone
OSK-W-18-1804	280.0	282.8	2.8	224	20.3	Infill	Lynx_305
including	282.5	282.8	0.3	2000	100
	308.6	312.7	4.1	10.8		Infill	Lynx_308
including	310.9	311.3	0.4	69.3
	314.9	317.0	2.1	77.9	58.5	Infill	Lynx_308
including	315.8	317.0	1.2	134	100
OSK-W-18-1807	260.9	263.2	2.3	3.14		Infill	Lynx_304
	267.3	272.0	4.7	18.0		Infill	Lynx_304
including	267.3	267.8	0.5	80.0
OSK-W-18-1809	228.0	230.0	2.0	3.40		Infill	Lynx_310
including	228.0	228.6	0.6	9.56
	265.0	267.3	2.3	6.13		Infill	Lynx_308
including	265.9	266.2	0.3	25.8
OSK-W-18-1811	188.0	190.4	2.4	4.10		Infill	Lynx_304
	214.6	217.0	2.4	5.56		Infill	Lynx_305
	255.5	257.5	2.0	15.2		Infill	Lynx_308
including	256.8	257.5	0.7	40.9
	268.6	271.0	2.4	32.6	25.7	Infill	Lynx_311
including	269.8	270.4	0.6	128	100
OSK-W-18-1812	266.3	269.5	3.2	51.2	40.7	Infill	Lynx_311
including	266.8	267.9	1.1	131	100
OSK-W-19-1846	239.9	243.0	3.1	11.3		Infill	Lynx_311
including	242.3	243.0	0.7	33.5
OSK-W-19-1850	228.2	231.4	3.2	43.7	37.6	Infill	Lynx_311
including	230.3	231.4	1.1	118	100
OSK-W-19-1852	248.0	250.6	2.6	14.8		Infill	Lynx_311
including	248.9	249.3	0.4	80.2
OSK-W-19-1855	272.8	275.0	2.2	38.6	19.1	Infill	Lynx_310
including	274.6	275.0	0.4	207	100
	281.0	284.3	3.3	6.04		Infill	Lynx_305
including	283.9	284.3	0.4	18.1
OSK-W-19-1860	310.7	313.0	2.3	28.6		Infill	Lynx_304
including	311.0	311.9	0.9	70.7
OSK-W-19-1865	313.3	315.5	2.2	56.0	33.0	Infill	Lynx_304
including	314.2	314.9	0.7	172	100

Note: True widths are estimated at 65 – 80% of the reported core length interval.  See “Quality Control and Reporting Protocols” below.

 

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation (m)	Section
OSK-W-18-1804	331	-56	345	453414	5434922	396	3525
OSK-W-18-1807	332	-56	297	453423	5434923	396	3530
OSK-W-18-1809	328	-51	291	453366	5434931	396	3500
OSK-W-18-1811	333	-51	317	453365	5434931	397	3500
OSK-W-18-1812	330	-50	303	453366	5434932	396	3500
OSK-W-19-1846	330	-58	324	453324	5434949	398	3475
OSK-W-19-1850	329	-58	270	453320	5434954	398	3475
OSK-W-19-1852	330	-58	300	453312	5434949	397	3440
OSK-W-19-1855	124	-45	351	453178	5435190	404	3450
OSK-W-19-1860	124	-45	333	453186	5435200	403	3465
OSK-W-19-1865	124	-45	339	453189	5435213	404	3475

 

OSK-W-18-1804 intersected three intervals: 224 g/t Au over 2.8 metres, 10.8 g/t Au over 4.1 metres and 77.9 g/t Au over 2.1 metres. The first interval contains pyrite-tourmaline stringers with local visible gold, 5% pyrite clusters, and trace pyrite stringers in a fragmental rhyolite with moderate to strong silica alteration. The second interval contains 3% disseminated pyrite and trace sphalerite in pervasive silica flooding, trace pyrite-tourmaline stringers and 1% disseminated pyrite in a strongly silicified rhyolite. The third interval contains up to 2% pyrite stringers, trace disseminated pyrite and clusters, and trace pyrite in tourmaline ptygmatic veins in a chloritized and slightly sericitized gabbro.

 

OSK-W-18-1807 intersected two intervals: 3.14 g/t Au over 2.3 metres and 18.0 g/t Au over 4.7 metres.  The first interval contains 3% pyrite with pervasive silica flooding and tourmaline ptygmatic and quartz-tourmaline veins and 1% pyrite-tourmaline stringers in alternating silicified and sericitized fragmental intrusions, rhyolites and porphyritic felsic dikes. The second interval contains 35% semi massive pyrite with pervasive silica flooding in a strongly silicified and a weakly fuchsite and sericite altered porphyritic felsic dike.

 

OSK-W-18-1809 intersected two intervals: 3.40 g/t Au over 2.0 metres and 6.13 g/t Au over 2.3 metres. The first interval contains up to 4% pyrite clusters in pervasive silica flooding in a silicified and sericitized fragmental felsic dike. The second interval contains trace pyrite in pervasive silica flooding and trace pyrite-tourmaline stringers with local visible gold in pervasive silica flooding with fuchsite hosted in a sericitized and silicified rhyolite.

 

OSK-W-18-1811 intersected four intervals: 4.10 g/t Au over 2.4 metres, 5.56 g/t Au over 2.4 metres, 15.2 g/t Au over 2.0 metres and 32.6 g/t Au over 2.4 metres. The first interval contains of 5% pyrite clusters and 4% disseminated pyrite in a moderate sericite and weak silica altered dacite. The second interval contains trace pyrite-tourmaline stringers, and pyrite-tourmaline veins in a moderate chlorite and weak sericite and silica altered gabbro. The third interval contains 8% disseminated pyrite in clusters or fracture filling, trace chalcopyrite in quartz-tourmaline veins, and 1% pyrite-tourmaline stringers in a bleached and sericitized andesite. The fourth interval contains up to 15% pyrite stringers and 5% disseminated pyrite in silica flooding within a moderately sericitized porphyritic felsic dike.

 

OSK-W-18-1812 intersected 51.2 g/t Au over 3.2 metres. Mineralization consists of local visible gold, up to 15% pyrite and trace sphalerite associated within pervasive silica flooding, moderate fuchsite and moderate sericite altered rhyolite.

 

OSK-W-19-1846 intersected 11.3 g/t Au over 3.1 metres. Mineralization consists of local visible gold, up to 15% pyrite stringers with pyrite-silica flooding hosted in strong silica, moderate sericite and weak fuchsite altered rhyolite.

 

OSK-W-19-1850 intersected 43.7 g/t Au over 3.2 metres. Mineralization consists of local visible gold, up to 15% disseminated pyrite and stringers, 5% disseminated sphalerite and pyrite-tourmaline stringers hosted in a strong silica and fuchsite altered rhyolite.

 

OSK-W-19-1852 intersected 14.8 g/t Au over 2.6 metres. Mineralization consists of local visible gold, up to 7% pyrite clusters and stringers with pervasive silica flooding hosted in a strong silica, moderate sericite, fuchsite and carbonates altered rhyolite.

 

OSK-W-19-1855 intersected 38.6 g/t Au over 2.2 metres and 6.04 g/t Au over 3.3 metres. The first interval contains local visible gold and 1% pyrite stringers hosted in a strong silica altered fragmental felsic intrusion. The second interval contains 1% disseminated pyrite with quartz-tourmaline veins hosted in a weak sericite and silica altered fragmental felsic intrusion.

 

OSK-W-19-1860 intersected 28.6 g/t Au over 2.3 metres. Mineralization consists of local visible gold, 1% pyrite stringers, and up to 5% disseminated pyrite within a bleached and fuchsite altered fragmental felsic intrusion.

 

OSK-W-19-1865 intersected 56.0 g/t Au over 2.2 metres. Mineralization consists of local visible gold, 6% disseminated pyrite, and 1% sphalerite and ptygmatic tourmaline stringers within a strong silica and fuchsite altered porphyritic felsic intrusion.

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 65-80% 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 an Aqua Regia-ICP-AES 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 Lake Gold Deposit

The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below) and November 27, 2018 Lynx resource update, comprises 2,874,000 tonnes at 8.17 g/t Au (754,000 ounces) in the indicated mineral resource category and 10,352,000 tonnes at 7.11 g/t Au (2,366,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Windfall Lake Technical Report”) and the press release “Osisko Releases Mineral Resource Update for Lynx” dated November 27, 2018, which has been prepared by Osisko and reviewed and approved by Micon International, Ltd. from Toronto, Ontario. The Windfall Lake Technical Report and press release are available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com. The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 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 Lake 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 Quevillon area (over 3,300 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. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the significance of results from the new infill drilling and ongoing drill definition and expansion program at the Windfall Lake gold project; the significance of assay results presented in this news release; the deposit remaining open along strike and at depth; potential depth extensions of the mineralized zones down-plunge and at depth; the actual mineralization of local visible gold; the current 800,000 metre drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to 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”, “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 forward-looking information is based on reasonable assumptions and estimates of management of the Corporation at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by 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 interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; 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.

 

For further information please contact:

John Burzynski
President and Chief Executive Officer
Telephone: (416) 363-8653

88.0 g/t Au Over 4.1 Metres in Underdog

131 g/t Au Over 2.1 Metres in Lynx

59.9 g/t Au Over 2.6 Metres in Zone 27

9.56 g/t Au Over 12.6 Metres in Caribou

(Toronto, March 19, 2019)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new infill drilling results from the ongoing definition and expansion program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.  The program is currently focussed on infill drilling within the main Windfall gold deposit and the adjacent Lynx deposit (located immediately NE of Windfall), exploration and expansion drilling on the main mineralized zones, and deep exploration in the central areas of the intrusive system. Significant new analytical results from 101 intercepts in 39 drill holes and 17 wedges focused on infill drilling from surface and underground are presented below.

 

Highlights from new infill drilling results include: 88.0 g/t Au over 4.1 metres in OSK-EAG-13-480-W2;  131 g/t Au over 2.1 metres in OSK-W-18-1656; 128 g/t Au over 2.0 metres in OSK-W-19-909-W8;  85.1 over 3.0 metres in OSK-W-18-1066-W3; 54.4 g/t Au over 3.1 metres in OSK-W-18-1386-W5; 59.9 g/t Au over 2.6 metres in WST-19-0060; 45.0 g/t Au over 3.0 metres in  OSK-W-19-1426-W1; 9.56 g/t Au over 12.6 metres in OSK-W-19-1823; 52.9 g/t Au over 2.1 metres in OSK-W-18-1813; 34.9 g/t Au over 2.4 metres in OSK-W-19-1819-W1; 38.2 g/t Au over 2.0 metres in OSK-W-18-1759; 34.5 g/t Au over 2.2 metres in OSK-EAG-13-480-W1; 13.2 g/t Au over 4.9 metres in OSK-W-19-1343-W3; 9.37 g/t Au over 6.0 metres in OSK-W-18-1803; and 8.98 g/t Au over 6.4 metres in WST-18-0039.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole Number	From (m)	To (m)	Interval (m)	Au (g/t) uncut	Au (g/t) cut to 100 g/t	Type	Mineralized Zone
OSK-EAG-13-480-W1	634.4	640.8	6.4	5.98		Infill	Underdog
including	636.4	636.7	0.3	56.6
	644.1	646.3	2.2	34.5		Infill	Underdog
including	644.7	645.7	1.0	56.2
OSK-EAG-13-480-W2	694.9	697.6	2.7	3.93		Infill	Underdog
including	694.9	695.6	0.7	11.2
	656.0	660.1	4.1	88.0	11.5	Infill	Underdog
including	659.8	660.1	0.3	1145	100
OSK-EAG-13-508	611.0	613.4	2.4	11.6		Infill	Zone 27
including	612.5	613.4	0.9	30.4
OSK-W-17-960	1031.0	1033.2	2.2	7.06		Infill	Lynx
including	1032.9	1033.2	0.3	50.8
	1036.8	1038.9	2.1	13.7		Infill	Lynx
including	1037.6	1037.9	0.3	57.1
OSK-W-17-993	992.0	994.3	2.3	5.95		Infill	Lynx
including	992.6	992.9	0.3	43.1
OSK-W-18-747-W2	681.0	683.5	2.5	8.58		Infill	Underdog
	712.8	715.3	2.5	7.10		Infill	Underdog
	784.0	786.0	2.0	4.86		Infill	Underdog
OSK-W-18-1025-W1	793.0	795.0	2.0	13.9		Infill	Underdog
	800.0	802.0	2.0	14.0		Infill	Underdog
including	800.0	800.5	0.5	42.0
	822.4	824.5	2.1	4.67		Infill	Underdog
including	822.4	822.8	0.4	22.8
OSK-W-18-1066-W2	750.0	752.0	2.0	6.76		Infill	Underdog
	1021.0	1023.0	2.0	23.3		Infill	Underdog
including	1021.0	1022.4	1.4	33.2
	1043.0	1045.0	2.0	7.55		Infill	Underdog
including	1044.5	1045.0	0.5	28.0
OSK-W-18-1066-W3	771.5	775.7	4.2	5.24		Infill	Underdog
including	771.5	772.1	0.6	19.7
	786.9	789.9	3.0	85.1	48.1	Infill	Underdog
including	788.0	789.4	1.4	179	100
OSK-W-18-1139-W1	815.2	817.5	2.3	5.65			Vein
including	815.2	815.9	0.7	17.6
OSK-W-18-1139-W3	783.4	786.0	2.6	6.46		Infill	Underdog
including	783.4	783.7	0.3	33.1
	843.0	845.2	2.2	5.26		Infill	Underdog
including	843.6	843.9	0.3	43.4
OSK-W-18-1386-W4	820.4	822.8	2.4	12.1		Infill	Lynx
	877.1	881.1	4.0	11.7		Infill	Lynx
including	878.0	878.5	0.5	30.7
	904.4	906.9	2.5	10.7		Infill	Lynx
	941.0	943.0	2.0	9.43		Infill	Lynx
	952.0	954.0	2.0	8.22		Infill	Lynx
OSK-W-18-1386-W5	831.6	834.7	3.1	54.4	21.4	Infill	Lynx
including	832.2	832.5	0.3	441	100
OSK-W-18-1424-W1	921.0	923.0	2.0	5.60		Ex	Lynx
including	921.8	923.0	1.2	9.32
OSK-W-18-1656	730.0	736.0	6.0	5.07		Infill	Lynx
including	730.0	730.5	0.5	36.5
	783.7	786.0	2.3	8.08		Infill	Lynx
including	784.7	785.3	0.6	23.0
	900.7	902.8	2.1	131	33.9	Ex	Lynx
including	900.7	901.4	0.7	391	100
	1090.0	1092.5	2.5	7.29		Ex	Lynx
including	1090.9	1091.8	0.9	17.9
OSK-W-18-1680	332.7	335.2	2.5	9.92		Infill	Zone 27
including	332.7	333.3	0.6	30.6
OSK-W-18-1738	262.0	264.0	2.0	8.22		Infill	Lynx
including	262.0	263.0	1.0	16.3
OSK-W-18-1747	202.6	205.0	2.4	5.99		Infill	Caribou
including	203.2	203.7	0.5	26.0
	273.3	276.0	2.7	3.09		Infill	Caribou
including	273.3	273.6	0.3	11.0
OSK-W-18-1759	206.4	208.4	2.0	38.2		Infill	Lynx
including	206.4	207.5	1.1	59.1
OSK-W-18-1779	197.0	199.1	2.1	4.05		Infill	Caribou
OSK-W-18-1789	327.0	329.0	2.0	3.87		Infill	Caribou
OSK-W-18-1803	443.0	445.0	2.0	3.74		Infill	Caribou
including	443.5	444.2	0.7	9.77
	519.0	525.0	6.0	9.37		Infill	Zone 27
including	523.9	525.0	1.1	30.9
OSK-W-18-1805	93.3	97.5	4.2	3.76		Infill	Caribou
	108.7	112.9	4.2	3.48		Infill	Caribou
	123.0	125.0	2.0	9.59		Infill	Caribou
including	123.4	124.4	1.0	17.7
OSK-W-18-1806	55.8	57.8	2.0	3.74		Infill	Caribou
OSK-W-18-1808	143.4	145.7	2.3	23.8		Infill	Caribou
including	144.3	145.0	0.7	76.9
	199.7	201.7	2.0	13.8		Infill	Caribou
including	200.6	201.7	1.1	24.8
OSK-W-18-1810	113.0	115.0	2.0	3.35		Infill	Caribou
	546.0	548.0	2.0	5.86		Infill	Zone 27
including	547.0	548.0	1.0	11.3
OSK-W-18-1813	333.4	335.5	2.1	52.9			VNCR
including	333.4	334.5	1.1	98.9
	515.2	517.3	2.1	15.8		Infill	Caribou
including	516.2	517.3	1.1	30.1
	580.9	583.0	2.1	5.54		Infill	Caribou
	637.4	639.6	2.2	4.38		Infill	Caribou
including	638.1	638.8	0.7	11.8
OSK-W-18-1814	166.0	168.0	2.0	4.04			Vein
including	166.6	167.5	0.9	8.98
	298.0	300.0	2.0	13.2		Infill	Caribou
including	299.0	300.0	1.0	26.4
	345.5	347.5	2.0	3.56		Infill	Caribou
	430.0	432.0	2.0	8.19		Infill	Caribou
including	431.0	432.0	1.0	16.2
OSK-W-18-1817	341.0	343.0	2.0	3.45		Infill	Caribou
including	341.0	342.0	1.0	6.61
	406.0	408.0	2.0	7.60		Infill	Caribou
including	406.8	407.6	0.8	18.1
	555.0	557.3	2.3	5.93		Infill	Zone 27
OSK-W-19-909-W6	937.5	939.5	2.0	6.00		Infill	Lynx
	1061.3	1063.9	2.6	14.5		Infill	Lynx
including	1062.3	1062.9	0.6	59.1
OSK-W-19-909-W8	960.0	962.0	2.0	128	39.6	Infill	Lynx
including	961.4	962.0	0.6	396	100
	969.0	971.0	2.0	8.39		Infill	Lynx
OSK-W-19-909-W9	957.0	959.0	2.0	4.86		Infill	Lynx
OSK-W-19-1343-W3	584.6	589.5	4.9	13.2		Infill	Lynx
including	584.6	585.6	1.0	50.9
OSK-W-19-1426-W1	594.4	596.5	2.1	4.23		Infill	Lynx
	600.1	602.5	2.4	6.48		Infill	Lynx
including	600.1	600.5	0.4	35.4
	622.8	625.8	3.0	45.0	33.4	Infill	Lynx
including	624.4	624.8	0.4	187	100
and	625.4	625.8	0.4	99.8
OSK-W-19-1819-W1	590.3	592.3	2.0	5.63		Infill	Lynx
including	591.0	591.4	0.4	20.4
	601.0	603.4	2.4	34.9		Infill	Lynx
including	602.5	603.4	0.9	71.4
OSK-W-19-1820	438.0	440.0	2.0	4.26		Infill	Caribou
OSK-W-19-1822	513.0	515.0	2.0	4.39		Infill	Caribou
including	514.0	515.0	1.0	8.62
OSK-W-19-1823	238.0	240.0	2.0	3.77		Infill	Caribou
	257.0	269.6	12.6	9.56		Infill	Caribou
OSK-W-19-1824	230.0	237.0	7.0	3.29		Infill	Caribou
including	230.0	231.0	1.0	13.1
OSK-W-19-1828	191.6	194.1	2.5	5.09		Infill	Caribou
OSK-W-19-1830	181.0	183.6	2.6	8.84		Infill	Caribou
OSK-W-19-1832	288.8	291.0	2.2	3.63		Infill	Lynx
including	288.8	289.2	0.4	17.0
	293.0	295.0	2.0	4.06		Infill	Lynx
OSK-W-19-1834	154.7	157.5	2.8	12.4		Infill	Caribou
including	156.6	157.5	0.9	25.9
OSK-W-19-1847	259.1	261.4	2.3	7.18		Infill	Lynx
including	260.1	260.5	0.4	37.9
WST-18-0027	91.0	93.0	2.0	11.1		Infill	Zone 27
WST-18-0039	98.0	100.0	2.0	3.82		Infill	Zone 27
including	98.9	99.4	0.5	11.0
	140.0	146.4	6.4	8.98		Infill	Caribou
WST-18-0048	73.0	75.0	2.0	4.67		Infill	Zone 27
including	73.5	74.0	0.5	17.1
WST-19-0054A	66.0	68.7	2.7	9.37		Infill	Zone 27
including	67.7	68.7	1.0	23.3
WST-19-0055	66.7	68.7	2.0	4.87		Infill	Zone 27
including	68.2	68.7	0.5	17.4
WST-19-0056	65.0	69.8	4.8	3.57		Infill	Zone 27
WST-19-0057	67.3	72.0	4.7	4.99		Infill	Zone 27
	75.8	78.0	2.2	4.47		Infill	Zone 27
WST-19-0058	61.8	66.5	4.7	3.08		Infill	Zone 27
including	65.5	66.5	1.0	9.55
WST-19-0059	81.0	83.7	2.7	5.16		Infill	Zone 27
	96.7	100.6	3.9	4.04		Infill	Zone 27
	103.0	105.2	2.2	14.8		Infill	Zone 27
including	103.5	103.9	0.4	61.9
	113.8	116.1	2.3	4.08		Infill	Zone 27
WST-19-0060	69.9	73.0	3.1	4.72		Infill	Zone 27
	80.0	82.6	2.6	59.9	27.6	Infill	Zone 27
including	81.9	82.6	0.7	220	100
WST-19-0063	93.0	95.0	2.0	15.0		Infill	Zone 27
including	93.0	94.0	1.0	29.3
WST-19-0065A	86.4	89.9	3.5	12.0		Infill	Zone 27

Notes: Ex = Expansion.  VNCR = Crustiform Vein.  True widths are estimated at 65 – 80% of the reported core length interval.

See “Quality Control and Reporting Protocols” below.

 

 

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation (m)	Section
OSK-EAG-13-480-W1	331	-57	651	452400	5434486	398	2425
OSK-EAG-13-480-W2	331	-57	770	452400	5434486	398	2425
OSK-EAG-13-508	330	-60	627	452588	5434698	403	2700
OSK-W-17-960	138	-54	1077	453283	5435344	404	3625
OSK-W-17-993	133	-51	1053	453283	5435344	404	3625
OSK-W-18-1025-W1	330	-58	852	452487	5434435	401	2475
OSK-W-18-1066-W2	332	-56	1065	452486	5434435	401	2475
OSK-W-18-1066-W3	332	-56	849	452486	5434435	401	2475
OSK-W-18-1139-W1	333	-56	874	452474	5434469	401	2500
OSK-W-18-1139-W3	333	-56	918	452474	5434469	401	2500
OSK-W-18-1386-W4	136	-54	1059	453802	5435746	401	4275
OSK-W-18-1386-W5	136	-54	1100	453802	5435746	401	4275
OSK-W-18-1424-W1	357	-57	1485	453358	5434364	400	3200
OSK-W-18-1656	144	-45	1154	453261	5435471	407	3675
OSK-W-18-1680	332	-48	372	452350	5434621	400	2450
OSK-W-18-1738	329	-69	393	453460	5434986	396	3600
OSK-W-18-1747	333	-54	519	452463	5434683	402	2600
OSK-W-18-1759	331	-57	252	453323	5434955	397	3475
OSK-W-18-1779	334	-58	297	452430	5434514	400	2475
OSK-W-18-1789	332	-56	624	452611	5434691	401	2725
OSK-W-18-1803	334	-58	585	452547	5434723	404	2675
OSK-W-18-1805	331	-56	147	452259	5434559	400	2350
OSK-W-18-1806	330	-56	132	452263	5434588	400	2350
OSK-W-18-1808	330	-50	351	452297	5434645	400	2425
OSK-W-18-1810	335	-49	566	452401	5434503	398	2450
OSK-W-18-1813	330	-60	731	452683	5434622	398	2750
OSK-W-18-1814	333	-59	438	452683	5434622	398	2750
OSK-W-18-1817	332	-57	687	452656	5434699	399	2750
OSK-W-18-747-W2	331	-57	798	452449	5434488	400	2475
OSK-W-19-1343-W3	137	-56	637	453572	5435489	399	3950
OSK-W-19-1819-W1	132	-45	654	453486	5435514	397	3875
OSK-W-19-1832	130	-46	345	453195	5435212	404	3475
OSK-W-19-1847	331	-58	293	453317	5434947	397	3450
OSK-W-19-909-W6	131	-55	1094	453683	5435677	401	4125
OSK-W-19-909-W8	131	-55	1053	453683	5435677	401	4125
OSK-W-19-909-W9	131	-55	1143	453683	5435677	401	4125
OSK-W-19-1426-W1	136	-47	687	453453	5435560	408	3875
OSK-W-19-1820	333	-59	489	452672	5434723	398	2775
OSK-W-19-1822	339	-60	615	452506	5434389	402	2475
OSK-W-19-1823	329	-52	330	452546	5434702	404	2675
OSK-W-19-1824	327	-50	309	452566	5434725	404	2700
OSK-W-19-1828	340	-50	237	452203	5434388	398	2200
OSK-W-19-1830	338	-52	231	452179	5434396	399	2200
OSK-W-19-1834	338	-47	216	452179	5434396	399	2200
WST-18-0027	159	-44	106	452280	5434974	263	2575
WST-18-0039	166	-34	148	452025	5434760	240	2250
WST-18-0048	164	-39	142	452025	5434760	240	2250
WST-19-0054A	157	46	156	451960	5434734	253	2175
WST-19-0055	157	31	114	451959	5434733	252	2175
WST-19-0056	165	35	144	451959	5434733	252	2175
WST-19-0057	171	42	165	451958	5434736	249	2175
WST-19-0058	171	31	118	451958	5434736	249	2175
WST-19-0059	176	55	152	451958	5434736	249	2175
WST-19-0060	176	49	165	451958	5434736	249	2175
WST-19-0063	187	25	121	451958	5434735	250	2175
WST-19-0065A	198	-12	133	451958	5434735	249	2175

Note:              WST series drill holes were completed from underground drill stations.

 

OSK-EAG-13-480-W1 intersected 5.98 g/t Au over 6.4 metres and 34.5 g/t Au over 2.2 metres in Underdog. The first interval is composed of up to 10% disseminated pyrite stringers and clusters with quartz veinlets or pervasive silica flooding, trace chalcopyrite and sphalerite and local visible gold. Mineralization is hosted in a sericite altered porphyritic felsic dike. The second interval contains local visible gold, 7% pyrite in pervasive silica flooding, and up to 5% pyrite stringers within a sericite altered porphyritic felsic dike.

 

OSK-EAG-13-480-W2 intersected 3.93 g/t Au over 2.7 metres and 88.0 g/t Au over 4.1 metres in Underdog. The first interval is composed of up to 7% disseminated pyrite and stringers with local pervasive silica flooding, trace disseminated chalcopyrite and sphalerite and pyrite-tourmaline stringers within a strong biotite and sericite altered fragmental felsic dike. The second interval contains local visible gold and electrum in quartz cluster veins, up to 20% disseminated and stringer pyrite, ptygmatic tourmaline veins and traces of chalcopyrite. The mineralization is hosted in a moderately to strongly sericitized porphyritic felsic dike.

 

OSK-EAG-13-508 intersected 11.6 g/t Au over 2.4 metres in Zone 27. Mineralization is composed of 3% pyrite stringers and 1% pyrite clusters in a moderately bleached and sericitized andesite.

 

OSK-W-17-960 intersected two intervals in Lynx: 7.06 g/t Au over 2.2 metres and 13.7 g/t Au over 2.1 metres. The two intervals contain local visible gold, disseminated chalcopyrite and pyrite in a decimetre scale smoky-quartz vein, 3% pyrite-tourmaline stringers, and 1% chalcopyrite and sphalerite clusters in a silicified and sericitized rhyolite.

 

OSK-W-17-993 intersected 5.95 g/t Au over 2.3 metres in Lynx. Mineralization is composed of local visible gold, 2% pyrite, trace arsenopyrite, chalcopyrite and sphalerite within a smoky quartz vein (3 cm wide) at the contact with a sheared andesite and a massive rhyolite, all moderately silicified and sericitized.

 

OSK-W-18-747-W2 intersected three intervals in Underdog: 8.58 g/t Au over 2.5 metres, 7.10 g/t Au over 2.5 metres and 4.86 g/t Au over 2.0 metres. The first interval is composed of 5% pyrite-tourmaline stringers with pervasive silica flooding including a 15% pyrite interval 40 cm wide hosted in a moderate sericite and silica altered rhyolite. The second interval is composed of 5% pyrite, trace chalcopyrite in pervasive silica flooding and quartz-tourmaline veins (locally ptygmatic) hosted in a moderate sericite and silica altered felsic porphyritic intrusion in contact with a gabbro. The third interval is composed of 3% pyrite stringers, 3% pyrite stockwork and pervasive silica flooding in a sericitized, silicified and bleached porphyritic felsic dike.

 

OSK-W-18-1025-W1 intersected three intervals in Underdog: 13.9 g/t Au over 2.0 metres, 14.0 g/t Au over 2.0 metres and 4.67 g/t Au over 2.1 metres. The first interval is composed of 5% pyrite in pervasive silica flooding and 1% disseminated pyrite in a sericitized porphyritic dike with weak fuchsite alteration. The second and third intervals contain local visible gold, 5% pyrite in pervasive silica flooding and ptygmatic tourmaline veins, and up to 1% chalcopyrite in a moderately sericitized and silicified porphyritic felsic intrusion.

 

OSK-W-18-1066-W2 intersected three intervals in Underdog; 6.76 g/t Au over 2.0 metres, 23.3 g/t Au over 2.0 metres and 7.55 g/t Au over 2.0 metres. The first interval contains up to 5% pyrite with pervasive silica flooding and local ptygmatic tourmaline veins hosted in a moderately sericitized and silicified felsic porphyritic intrusion. The last two intervals contain trace pyrite stringers and pyrite-tourmaline stringers in a weakly sericitized porphyritic felsic dike.

 

OSK-W-18-1066-W3 intersected 5.24 g/t Au over 4.2 metres and 85.1 g/t Au over 3.0 metres in Underdog. The first interval contains 3% disseminated pyrite and stringers, up 15% pyrite with pervasive silica alteration, local visible gold, and sphalerite and chalcopyrite within a silicified porphyritic felsic dike. The second interval contains local visible gold in fracture filling and stringers, up to 20% pyrite, trace sphalerite and chalcopyrite with pervasive silica flooding hosted in a moderately sericitized and bleached felsic porphyritic intrusion.

 

OSK-W-18-1139-W1 intersected 5.65 g/t Au over 2.3 metres corresponding with a quartz vein with trace pyrite at the contact between two porphyritic felsic dikes with moderate sericite alteration and weak silica and fuchsite alteration.

 

OSK-W-18-1139-W3 intersect two intervals in Underdog: 6.46 g/t Au over 2.6 metres and 5.26 g/t Au over 2.2 metres. The first interval contains 10% pyrite associated with pervasive silica flooding in a sericitized and silicified felsic porphyritic intrusive. The second interval contains 20% pyrite as clusters inside a pervasive silica flooded interval 20 cm wide hosted in a sericitized and silicified felsic porphyritic intrusive at the contact with a small felsic porphyritic fragmental dike.

 

OSK-W-18-1386-W4 intersected five intervals in Lynx: 12.1 g/t Au over 2.4 metres, 11.7 g/t Au over 4.0 metres, 10.7 g/t Au over 2.5 metres, 9.43 g/t Au over 2.0 metres and 8.22 g/t Au over 2.0 metres. The first interval contains up to 7% disseminated pyrite, 3% pyrite and trace chalcopyrite in quartz-tourmaline veins, 3% pyrite clusters and trace pyrite stringers in a sericitized and weak silica and fuchsite altered gabbro. The last four intervals contain local visible gold, up to 5% pyrite as clusters and stringers, 1% sphalerite, and trace chalcopyrite in pervasive silica flooding hosted in a silicified, sericitized and fuchsite altered gabbro or sericitized and silicified rhyolite.

 

OSK-W-18-1386-W5 intersected 54.4 g/t Au over 3.1 metres in Lynx. Mineralization is composed of local visible gold, 4% disseminated, clustered and stringer pyrite, and trace chalcopyrite with quartz-tourmaline veins and pervasive silica flooding hosted in a strongly bleached, silicified and fuchsite altered gabbro.

 

OSK-W-18-1424-W1 intersected 5.60 g/t Au over 2.0 metres in Lynx. Mineralization is composed of tourmaline-quartz veins with trace pyrite hosted in a sericitized gabbro.

 

OSK-W-18-1656 intersected 5.07 g/t Au over 6.0 metres, 8.08 g/t Au over 2.3 metres, 131 g/t Au over 2.1 metres and 7.29 g/t Au over 2.5 metres in Lynx. The first and second intervals contain 1% disseminated and stringer pyrite in a moderately sericitized and weakly silicified porphyritic felsic dike. The third interval contains up to 3% pyrite stringers with silica flooding hosted in a strong silica altered rhyolite. The last interval contains 5% pyrite stringers and trace chalcopyrite within a moderate sericite altered gabbro.

 

OSK-W-18-1680 intersected 9.92 g/t Au over 2.5 metres in Zone 27. Mineralization is composed of up to 5% disseminated pyrite, 1% pyrite stringers and quartz carbonate veins hosted in a moderately sericitized felsic porphyritic intrusion with small quartz eyes.

 

OSK-W-18-1738 intersected 8.22 g/t Au over 2.0 metres in Lynx. Mineralization is composed of traces of disseminated and clustered pyrite in a moderately chlorite, silica and carbonate altered gabbro.

 

OSK-W-18-1747 intersected two intervals in Caribou: 5.99 g/t Au over 2.4 metres and 3.09 g/t Au over 2.7 metres. The first interval contains up to 7% pyrite stringers in pervasive silica flooding in a moderately sericitized and silicified felsic porphyritic intrusion. The second interval contains 4% disseminated and stringer pyrite in a sericite and fuchsite altered gabbro.

 

OSK-W-18-1759 intersected 38.2 g/t Au over 2.0 metres in Lynx. Mineralization is composed of local visible gold and up to 20% pyrite in pervasive silica flooded zones in a moderately sericitized and patchy silicified felsic intrusion.

 

OSK-W-18-1779 intersected 4.05 g/t Au over 2.1 metres in Caribou. Mineralization is composed of up to 40% semi-massive pyrite, 10% disseminated pyrite, 7% pyrite stringers and 1% pyrite clusters in a bleached sericitized and silicified andesite.

 

OSK-W-18-1789 intersected 3.87 g/t Au over 2.0 metres in Caribou. Mineralization is composed of 1% pyrite stringers and trace chalcopyrite in pervasive silica flooding in a sericitized porphyritic felsic intrusion.

 

OSK-W-18-1803 intersected 3.74 g/t Au over 2.0 metres in Caribou and 9.37 g/t Au over 6.0 metres in Zone 27. The first interval contains 1% pyrite clusters and traces of chalcopyrite in a bleached and foliated andesite. The second interval contains local visible gold, up to 6% pyrite clusters and trace chalcopyrite hosted in moderate to strong sericitized fragmental andesite in contact with a felsic porphyritic intrusion.

 

OSK-W-18-1805 intersected three intervals in Caribou: 3.76 g/t Au over 4.2 metres, 3.48 g/t Au over 4.2 metres and 9.59 g/t Au over 2.0 metres. Mineralization is composed of semi-massive pyrite bands locally up to 70% pyrite, 5% disseminated pyrite and 4% pyrite stringers hosted in a slightly foliated, sericitized and silicified felsic porphyritic intrusion.

 

OSK-W-18-1806 intersected 3.74 g/t Au over 2.0 metres in Caribou. Mineralization is composed of 1% disseminated pyrite and trace pyrite stringers in a moderate sericite, chlorite and weak silica altered porphyritic felsic dike.

 

OSK-W-18-1808 intersected two intervals in Caribou: 23.8 g/t Au over 2.3 metres and 13.8 g/t Au over 2.0 metres. The first interval contains up to 5% pyrite within quartz-tourmaline veins and trace pyrite with tourmaline-ptygmatic veinlets at the contact between a sericitized and weakly foliated rhyolite and a felsic porphyritic intrusion. The second interval contains up to 5% pyrite-tourmaline stringers and 2% disseminated pyrite at the contact between a sericitized and patchy silicified porphyritic felsic dike and a rhyolite.

 

OSK-W-18-1810 intersected two intervals: 3.35 g/t Au over 2.0 metres in Caribou and 5.86 g/t Au over 2.0 metres in Zone 27. The first interval contains clustered quartz and tourmaline-quartz veins in a chlorite, hematite and carbonate altered andesite. The second interval contains up to 5% pyrite stringers with local stockwork texture hosted in weakly to moderately brecciated and bleached andesite in contact with a felsic porphyritic intrusion.

 

OSK-W-18-1813 intersected four intervals in Caribou: 52.9 g/t Au over 2.1 metres, 15.8 g/t Au over 2.1 metres; 5.54 g/t Au over 2.1 metres and 4.38 g/t Au over 2.2 metres. The first interval contains trace pyrite-tourmaline stringers and 1% pyrite in quartz-tourmaline veins in a chloritized, weakly sericitized and silicified gabbro. The second interval contains 8% disseminated pyrite, in cluster or fracture filling, and trace pyrite and chalcopyrite with quartz-tourmaline veins in a bleached and sericitized andesite. The third interval contains 3% pyrite stringers in a weakly bleached andesite. The fourth interval contains up to 15% pyrite stringers and 5% disseminated pyrite with pervasive silica flooding hosted in a moderately bleached andesite in contact with a moderately sericitized porphyritic felsic dike.

 

OSK-W-18-1814 intersected four intervals in Caribou: 4.04 g/t Au over 2.0 metres, 13.2 g/t Au over 2.0 metres, 3.56 g/t Au over 2.0 metres and 8.19 g/t Au over 2.0 metres. The first interval contains 3% pyrite stringers, 1% disseminated pyrite and 5% quartz clusters in a chloritized andesite. The second interval contains trace disseminated pyrite, 2% pyrite stringers, trace quartz clusters in a sericitized and weak silica altered rhyolite. The third interval contains quartz-carbonate veins with trace pyrite at the contact between a rhyolite and a gabbro. The fourth interval contains traces of disseminated pyrite and pyrite-tourmaline stringers in pervasive silica flooding, within a sericite altered porphyritic felsic dike.

 

OSK-W-18-1817 intersected three intervals: 3.45 g/t Au over 2.0 metres and 7.60 g/t Au over 2.0 metres in Caribou and 5.93 g/t Au over 2.3 metres in Zone 27. The first interval contains trace pyrite-tourmaline stringers in a moderately sericitized, silicified and bleached porphyritic felsic dike. The second interval contains 8% pyrite as fragments inside a brecciated zone hosted in a strongly sericitized and moderately silicified felsic porphyritic intrusion. The third interval contains 5% pyrite stringers in a moderately bleached and sericitized, weak silica altered porphyritic felsic dike.

 

OSK-W-19-909-W6 intersected 6.00 g/t Au over 2.0 metres and 14.5 g/t Au over 2.6 metres in Lynx. The first interval contains 5% disseminated pyrite, 1% pyrite stringers with local centimetre-scale pyrite clusters in a moderately bleached and sericitized gabbro. The second interval contains local visible gold in quartz-carbonate shear-extension veins, up to 10% pyrite stringers, 3% ptygmatic tourmaline veins and trace chalcopyrite hosted in a moderate sericite altered gabbro.

 

OSK-W-19-909-W8 intersected 128 g/t Au over 2.0 metres and 8.39 g/t Au over 2.0 metres in Lynx. The first interval contains local visible gold hosted in pervasive silica flooding within a moderately sericitized rhyolite. The second interval contains 5% pyrite stringers and clusters in a moderately sericitized rhyolite.

 

OSK-W-19-909-W9 intersected 4.86 g/t Au over 2.0 metres in Lynx. Mineralization is composed of 2% pyrite stringers, traces ptygmatic tourmaline veins in a weakly sericitized porphyritic felsic dike.

 

OSK-W-19-1343-W3 intersected 13.2 g/t Au over 4.9 metres in Lynx. Mineralization is composed of 3% pyrite stringers, 5% disseminated pyrite with smoky quartz veins and quartz-tourmaline veinlets in a strongly silica altered rhyolite.

 

OSK-W-19-1426-W1 intersected 4.23 g/t Au over 2.1 metres, 6.48 g/t Au over 2.4 metres and 45.0 g/t Au over 3.0 metres in Lynx. The first interval contains 5% pyrite clusters and fragments, 1% pyrite stringers in a strongly silicified and moderately sericitized fragmental felsic dike. The second interval contains traces of disseminated pyrite within a strong carbonate, moderate sericite and chlorite altered andesite. The third interval contains 5% pyrite and trace chalcopyrite with pervasive silica flooding, and trace pyrite stringers at a silicified contact between a gabbro and a porphyritic felsic unit.

 

OSK-W-19-1819-W1 intersected 5.63 g/t Au over 2.0 metres and 34.9 g/t Au over 2.4 metres in Lynx. The first interval contains 3% pyrite stringers and 2% pyrite clusters within a strong silica and sericite altered andesite. The second interval contains 2% pyrite stringers and trace tourmaline-pyrite veins hosted in a moderate sericite altered rhyolite.

 

OSK-W-19-1820 intersected 4.26 g/t Au over 2.0 metres in Caribou. Mineralization is composed of 1% pyrite clusters with quartz veins within a weakly sericitized and silicified porphyritic felsic dike.

 

OSK-W-19-1822 intersected 4.39 g/t Au over 2.0 metres in Caribou. Mineralization is composed of 1% pyrite in clustered quartz veins within a chloritized and weakly sericitized and silicified bleached andesite.

 

OSK-W-19-1823 intersected 3.77 g/t Au over 2.0 metres and 9.56 g/t Au over 12.6 metres in Caribou. The first interval contains 3% pyrite-tourmaline stringers hosted in a silicified and weakly sericitized rhyolite. The second interval contains up to 25% pyrite stringers, clusters or disseminated, within strong pervasive silica flooding hosted in a silicified and moderately sericitized rhyolite.

 

OSK-W-19-1824 intersected 3.29 g/t Au over 7.0 metres in Caribou. Mineralization is composed of 2% pyrite-tourmaline stringers within a sericitized and silicified porphyritic felsic dike.

 

OSK-W-19-1828 intersected 5.09 g/t Au over 2.5 metres in Caribou. Mineralization is composed of up to 7% pyrite with crustiform quartz veins, 3% pyrite stringers, 1% pyrite associated with quartz-tourmaline veins, 2% disseminated pyrite and 1% pyrite clusters within a silicified and sericitized rhyolite.

 

OSK-W-19-1830 intersected 8.84 g/t Au over 2.6 metres in Caribou. Mineralization is composed of up to 5% disseminated and stringer pyrite, 10% pyrite clusters, and 1% pyrite associated with ptygmatic tourmaline veins and trace sphalerite and chalcopyrite in quartz-carbonate veins hosted in a sericitized porphyritic felsic dike.

 

OSK-W-19-1832 intersected 3.63 g/t Au over 2.2 metres and 4.06 g/t Au over 2.0 metres in Lynx. The first interval contains local visible gold, 1% sphalerite and 5% pyrite associated with a 20 cm-wide quartz-carbonates-tourmaline vein hosted in weakly sericitized rhyolite. The second interval contains 4% pyrite-tourmaline with silica patches and traces pyrite-tourmaline stringers in weakly sericitized rhyolite.

 

OSK-W-19-1834 intersected 12.4 g/t Au over 2.8 metres in Caribou. Mineralization is composed of up to 10% disseminated pyrite, 5% pyrite clusters, 2% pyrite stringers, 2% pyrite associated with quartz-carbonate veins, 2% interstitial sphalerite and trace disseminated chalcopyrite hosted in a sericitized and silicified fragmental felsic dike.

 

OSK-W-19-1847 intersected 7.18 g/t Au over 2.3 metres in Lynx. Mineralization is composed of up to 5% disseminated, stringer, and clustered pyrite with weak to moderate pervasive silica flooding and traces of disseminated pyrite with local quartz-tourmaline veins hosted in a strongly sericitized and moderately chloritized rhyolite.

 

WST-18-0027 intersected 11.1 g/t Au over 2.0 metres in Zone 27. Mineralization includes 1% disseminated pyrite within a moderate silica altered porphyritic felsic dike. WST-18-0027 was drilled from underground drill station AN-140-270-S located 140 metres below surface on section 2575E.

 

WST-18-0039 intersected two intervals: 3.82 g/t Au over 2.0 metres in Zone 27 and 8.98 g/t Au over 6.4 metres in Caribou. The first interval contains 5% disseminated pyrite with pervasive silica flooding within a moderate silica and sericite altered rhyolite. The second interval contains 5% disseminated pyrite with pervasive silica flooding and quartz-tourmaline veins within a moderate silica and sericite altered rhyolite. WST-18-0039 was drilled from underground drill station AN-160-020-S located 160 metres below surface on section 2250E.

 

WST-18-0048 intersected 4.67 g/t Au over 2.0 metres in Zone 27. Mineralization includes 2% pyrite stringers within a moderate sericite altered andesite. WST-18-0048 was drilled from underground drill station AN-160-020-S located 160 metres below surface on section 2250E.

 

WST-19-0054A intersected 9.37 g/t Au over 2.7 metres in Zone 27. Mineralization includes local visible gold, 15% semi-massive pyrite and 1% pyrite-tourmaline stringers hosted in a moderate sericite altered porphyritic felsic intrusion. WST-19-0054A was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0055 intersected 4.87 g/t Au over 2.0 metres. Mineralization includes up to 1% semi-massive pyrite, 5% pyrite stringers and 7% pyrite clusters hosted in a moderately sericite and weakly fuchsite altered gabbro and in a moderately sericitized dacite. WST-19-0055 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0056 intersected 3.57 g/t Au over 4.8 metres in Zone 27. Mineralization includes up to 3% pyrite clusters with quartz-carbonate veinlets and up to 5% pyrite stringers in a moderately sericitized and locally hematized rhyolite in contact with a felsic porphyritic intrusion. WST-19-0056 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0057 intersected 4.99 g/t Au over 4.7 metres and 4.47 g/t Au over 2.2 metres in Zone 27. The first interval contains up to 5% pyrite stringers with patchy silica, 2% disseminated pyrite, up to 15% pyrite as clusters and stringers hosted in a silica altered rhyolite in contact with a felsic porphyritic intrusion. The second interval contains 1% pyrite stringers with quartz veins at the contact between a porphyritic felsic dike unit and a gabbro. WST-19-0057 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0058 intersected 3.08 g/t Au over 4.7 metres in Zone 27. Mineralization includes 2% pyrite-tourmaline stringers, trace pyrite clusters, and 1% chalcopyrite clusters hosted in a strong sericite and weak silica altered dacite. WST-19-0058 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0059 intersected four intervals in Zone 27: 5.16 g/t Au over 2.7 metres, 4.04 g/t Au over 3.9 metres, 14.8 g/t Au over 2.2 metres, and 4.08 g/t Au over 2.3 metres. The first interval contains 3% tourmaline ptygmatic veins, 4% pyrite in a semi-massive band, 3% quartz-tourmaline veins in a moderately sericitized, silicified and local fuchsite altered porphyritic felsic dike. The second interval contains up to 10% pyrite with a ptygmatic tourmaline vein, 5% pyrite semi-massive with silica patches, 1% pyrite stringers and 1% disseminated pyrite within a sericite, silica and fuchsite altered porphyritic felsic dike. The third interval contains 2% pyrite stringers, and trace disseminated pyrite within a sericitized porphyritic felsic dike. The fourth interval contains 4% disseminated pyrite, 2% arsenopyrite clusters and trace chalcopyrite in a breccia zone hosted in a porphyritic fragmental felsic intrusion. WST-19-0059 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0060 intersected 4.72 g/t Au over 3.1 metres, and 59.9 g/t Au over 2.6 metres in Zone 27. The first interval contains up to 40% pyrite stringers and trace pyrite clusters within a moderate sericite and weak silica altered rhyolite. The second interval contains traces pyrite and pyrite-tourmaline stringers within a moderate sericite and fuchsite altered dacite. WST-19-0060 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0063 intersected 15.0 g/t Au over 2.0 metres in Zone 27. Mineralization includes 2% semi-massive pyrite, up to 7% pyrite with ptygmatic tourmaline veins, 1% pyrite stringers and trace disseminated pyrite hosted in a weakly sericitized and patchy fuchsite altered felsic porphyritic intrusion. WST-19-0063 was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

 

WST-19-0065A intersected 12.0 g/t Au over 3.5 metres. Mineralization includes up to 3% pyrite stringers, 5% pyrite with quartz tourmaline veins and 3% disseminated pyrite hosted in a weakly to moderately sericitized dacite. WST-19-0065A was drilled from underground drill station BM-150-960-S located 150 metres below surface on section 2175E.

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 65-80% 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 an Aqua Regia-ICP-AES 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 Lake Gold Deposit

The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below) and November 27, 2018 Lynx resource update, comprises 2,874,000 tonnes at 8.17 g/t Au (754,000 ounces) in the indicated mineral resource category and 10,352,000 tonnes at 7.11 g/t Au (2,366,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Windfall Lake Technical Report”) and the press release “Osisko Releases Mineral Resource Update for Lynx” dated November 27, 2018, which has been prepared by Osisko and reviewed and approved by Micon International, Ltd. from Toronto, Ontario. The Windfall Lake Technical Report and press release are available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com. The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 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 Lake 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 Quevillon area (over 3,300 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. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the significance of results from the new infill drilling and ongoing drill definition and expansion program at the Windfall Lake gold project; the significance of assay results presented in this news release; the deposit remaining open along strike and at depth; potential depth extensions of the mineralized zones down-plunge and at depth; the actual mineralization of local visible gold; the current 800,000 metre drill program; the type of drilling included in the drill program; potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to 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”, “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 forward-looking information is based on reasonable assumptions and estimates of management of the Corporation at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by 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 interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; 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.

 

For further information please contact:

John Burzynski
President and Chief Executive Officer
Telephone: (416) 363-8653