Month: January 2021
OSISKO WINDFALL INFILL DRILLING: INSERT SUPERLATIVE HERE
New Intercepts Include 108 g/t Au Over 10.5 Metres
(Toronto, January 26, 2021) 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: “Infill drilling at Windfall continues with more good results with respect to grade and width, particularly in the Lynx zones. Both underground and surface drills continue to infill our resources and explore open down plunge areas.”
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 63 intercepts in 38 drill holes and 7 wedges.
Selected high-grade intercepts from the new results include: 108 g/t Au over 10.5 metres in OSK-W-20-2256-W7;21.7 g/t Au over 11.3 metres in OSK-W-20-2271-W3; 76.7 g/t Au over 3.0 metres in OSK-W-20-2377; 30.9 g/t Au over 4.5 metres in OSK-W-20-2292-W4; 35.1 g/ t Au over 2.8 metres in OSK-W-20-2325; and 36.5 g/t Au over 2.1 metres in OSK-W-20-2283-W3. 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 | Zone | Corridor |
OSK-W-20-847-W3 | 628.8 | 631.0 | 2.2 | 4.32 | Caribou_2214 | Caribou | |
including | 629.5 | 630.0 | 0.5 | 12.9 | |||
OSK-W-20-852-W4 | 548.0 | 550.0 | 2.0 | 8.55 | Caribou_2524 | Caribou | |
OSK-W-20-2256-W7 | 881.0 | 891.5 | 10.5 | 108 | 30.7 | Lynx_361 | Triple Lynx |
including | 885.8 | 887.0 | 1.2 | 567 | 100 | ||
and | 887.5 | 888.6 | 1.1 | 302 | 100 | ||
OSK-W-20-2271-W3 | 1057.6 | 1068.9 | 11.3 | 21.7 | Lynx_330 | Lynx | |
including | 1061.8 | 1062.1 | 0.3 | 64.1 | |||
and | 1064.0 | 1064.3 | 0.3 | 92.8 | |||
OSK-W-20-2283-W3 | 870.0 | 872.0 | 2.0 | 11.2 | Triple Lynx | Triple Lynx | |
including | 871.1 | 871.5 | 0.4 | 41.8 | |||
984.6 | 987.0 | 2.4 | 4.47 | Triple Lynx | Triple Lynx | ||
including | 985.5 | 986.0 | 0.5 | 20.5 | |||
991.4 | 993.5 | 2.1 | 36.5 | Triple Lynx | Triple Lynx | ||
including | 992.0 | 992.8 | 0.8 | 95.7 | |||
OSK-W-20-2287 | 1158.9 | 1161.0 | 2.1 | 7.64 | Lynx_346 | Lynx | |
OSK-W-20-2292-W4 | 884.3 | 888.8 | 4.5 | 30.9 | 21.7 | Lynx_375 | Triple Lynx |
including | 887.3 | 888.0 | 0.7 | 159 | 100 | ||
OSK-W-20-2301 | 94.7 | 96.7 | 2.0 | 8.14 | F17_6003 | F-17 | |
including | 96.0 | 96.7 | 0.7 | 21.6 | |||
101.2 | 103.6 | 2.4 | 3.54 | F17_6003 | F-17 | ||
including | 101.2 | 101.7 | 0.5 | 16.9 | |||
OSK-W-20-2306 | 199.5 | 205.3 | 5.8 | 7.48 | Bobcat | Bobcat | |
including | 202.3 | 202.8 | 0.5 | 43.8 | |||
OSK-W-20-2313-W2 | 979.3 | 981.4 | 2.1 | 8.56 | Triple Lynx | Triple Lynx | |
including | 979.8 | 980.2 | 0.4 | 21.8 | |||
OSK-W-20-2319 | 210.0 | 212.0 | 2.0 | 4.83 | Bobcat | Bobcat | |
OSK-W-20-2325 | 128.0 | 130.8 | 2.8 | 35.1 | 25.6 | Mallard_5200 | Mallard |
including | 130.1 | 130.8 | 0.7 | 138 | 100 | ||
143.6 | 145.8 | 2.2 | 13.1 | Mallard_5213 | Mallard | ||
OSK-W-20-2326 | 82.0 | 86.0 | 4.0 | 9.47 | Mallard_5213 | Mallard | |
including | 82.0 | 83.0 | 1.0 | 29.5 | |||
OSK-W-20-2327 | 94.0 | 96.7 | 2.7 | 14.1 | Mallard_5213 | Mallard | |
including | 96.0 | 96.7 | 0.7 | 33.7 | |||
OSK-W-20-2328 | 177.0 | 182.5 | 5.5 | 6.50 | Caribou_2527 | Caribou | |
OSK-W-20-2330 | 137.7 | 140.0 | 2.3 | 9.57 | Mallard_5213 | Mallard | |
including | 138.8 | 139.4 | 0.6 | 35.1 | |||
OSK-W-20-2332 | 191.7 | 194.7 | 3.0 | 6.03 | Mallard_5213 | Mallard | |
OSK-W-20-2346 | 892.0 | 894.2 | 2.2 | 12.2 | Lynx_330 | Lynx | |
including | 893.5 | 893.8 | 0.3 | 78.5 | |||
OSK-W-20-2354 | 653.3 | 655.9 | 2.6 | 5.39 | Caribou_2233 | Caribou | |
including | 654.1 | 654.5 | 0.4 | 19.7 | |||
OSK-W-20-2362 | 137.0 | 139.0 | 2.0 | 4.19 | Bobcat | Bobcat | |
OSK-W-20-2377 | 105.0 | 108.0 | 3.0 | 76.7 | 22.7 | F17_6003 | F-17 |
including | 106.0 | 106.4 | 0.4 | 505 | 100 | ||
OSK-W-20-2384 | 644.5 | 646.9 | 2.4 | 26.2 | Lynx_341 | Lynx | |
including | 645.3 | 645.9 | 0.6 | 96.5 | |||
OSK-W-20-2389 | 589.0 | 591.0 | 2.0 | 5.72 | Caribou | Caribou | |
WST-20-0011 | 278.8 | 280.8 | 2.0 | 15.5 | Lynx SW | Lynx SW | |
WST-20-0346 | 29.0 | 31.0 | 2.0 | 4.57 | Mallard_5212 | Mallard | |
WST-20-0347 | 270.0 | 272.9 | 2.9 | 3.31 | Caribou_2572 | Caribou | |
including | 272.1 | 272.9 | 0.8 | 11.4 | |||
WST-20-0348 | 237.6 | 239.7 | 2.1 | 7.49 | Caribou_2573 | Caribou | |
271.5 | 273.5 | 2.0 | 4.68 | Caribou_2572 | Caribou | ||
including | 272.5 | 272.9 | 0.4 | 22.6 | |||
WST-20-0349 | 293.2 | 296.0 | 2.8 | 3.64 | Caribou_2572 | Caribou | |
including | 294.0 | 295.0 | 1.0 | 9.56 | |||
WST-20-0476 | 154.9 | 157.1 | 2.2 | 4.85 | Caribou_2551 | Caribou | |
including | 154.9 | 155.6 | 0.7 | 11.9 | |||
172.9 | 175.5 | 2.6 | 3.33 | Caribou_2551 | Caribou | ||
WST-20-0477 | 151.5 | 154.0 | 2.5 | 5.90 | Caribou_2551 | Caribou | |
WST-20-0480B | 60.0 | 62.0 | 2.0 | 12.3 | Mallard_5211 | Mallard | |
WST-20-0518 | 168.0 | 170.0 | 2.0 | 4.53 | Z27_1102 | Zone 27 | |
WST-20-0520 | 63.5 | 66.0 | 2.5 | 5.53 | Mallard_5211 | Mallard | |
81.5 | 84.0 | 2.5 | 12.3 | Mallard_5211 | Mallard | ||
including | 82.4 | 82.7 | 0.3 | 94.8 | |||
157.0 | 159.3 | 2.3 | 4.53 | Z27_1102 | Zone 27 | ||
352.4 | 354.4 | 2.0 | 11.8 | Caribou_2253 | Caribou | ||
including | 352.8 | 353.9 | 1.1 | 21.2 | |||
WST-20-0533 | 96.0 | 98.1 | 2.1 | 7.13 | Lynx_304 | Lynx | |
including | 97.2 | 98.1 | 0.9 | 16.6 | |||
WST-20-0534 | 69.0 | 71.0 | 2.0 | 21.4 | Lynx_323 | Lynx | |
including | 70.2 | 71.0 | 0.8 | 53.5 | |||
WST-20-0535 | 46.9 | 49.1 | 2.2 | 5.83 | Lynx_303 | Lynx | |
including | 46.9 | 47.5 | 0.6 | 18.1 | |||
WST-20-0536 | 83.0 | 85.0 | 2.0 | 17.9 | Lynx | Lynx | |
including | 83.4 | 83.8 | 0.4 | 84.1 | |||
WST-20-0549 | 11.0 | 13.0 | 2.0 | 12.3 | Mallard_5211 | Mallard | |
263.0 | 265.0 | 2.0 | 5.39 | Caribou_2518 | Caribou | ||
269.5 | 271.5 | 2.0 | 3.94 | Caribou_2518 | Caribou | ||
306.0 | 308.0 | 2.0 | 3.26 | Caribou_2521 | Caribou | ||
including | 307.2 | 308.0 | 0.8 | 7.40 | |||
373.9 | 377.0 | 3.1 | 4.60 | Caribou_2542 | Caribou | ||
WST-20-0565 | 11.0 | 13.2 | 2.2 | 11.6 | Mallard_5211 | Mallard | |
including | 11.6 | 12.4 | 0.8 | 24.0 | |||
WST-20-0566A | 306.4 | 311.7 | 5.3 | 9.25 | Caribou_2521 | Caribou | |
including | 307.3 | 308.3 | 1.0 | 36.2 | |||
WST-20-0568 | 295.9 | 298.0 | 2.1 | 7.62 | Lynx SW | Lynx SW | |
including | 296.6 | 297.4 | 0.8 | 15.7 | |||
317.0 | 319.0 | 2.0 | 3.94 | Lynx SW | Lynx SW | ||
including | 317.7 | 318.1 | 0.4 | 19.5 | |||
WST-20-0582 | 103.1 | 106.0 | 2.9 | 7.01 | Lynx_339 | Lynx | |
129.5 | 131.5 | 2.0 | 9.97 | Lynx_311 | Lynx | ||
including | 130.0 | 131.0 | 1.0 | 19.9 | |||
WST-20-0586 | 99.5 | 101.5 | 2.0 | 6.81 | Lynx_311 | Lynx | |
141.0 | 143.1 | 2.1 | 20.0 | Lynx | Lynx | ||
including | 142.2 | 142.7 | 0.5 | 79.3 | |||
160.0 | 162.5 | 2.5 | 14.4 | Lynx_359 | Lynx | ||
including | 161.3 | 161.8 | 0.5 | 54.1 | |||
WST-20-0587 | 165.0 | 167.2 | 2.2 | 3.33 | Lynx_304 | Lynx | |
including | 166.6 | 167.2 | 0.6 | 10.9 | |||
WST-20-0589 | 63.5 | 65.6 | 2.1 | 8.09 | Mallard_5211 | Mallard | |
330.4 | 332.4 | 2.0 | 6.21 | Caribou_2253 | Caribou |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-847-W3 | 334 | -69 | 649 | 452645 | 5434429 | 403 | 2625 |
OSK-W-20-852-W4 | 330 | -55 | 873 | 452874 | 5434552 | 398 | 2875 |
OSK-W-20-2256-W7 | 125 | -51 | 1005 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2271-W3 | 120 | -53 | 1235 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2283-W3 | 135 | -50 | 1004 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2287 | 116 | -53 | 1406 | 453607 | 5435714 | 404 | 4075 |
OSK-W-20-2292-W4 | 125 | -54 | 984 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2301 | 149 | -49 | 140 | 452696 | 5435534 | 410 | 3200 |
OSK-W-20-2306 | 152 | -55 | 531 | 452872 | 5435155 | 409 | 3175 |
OSK-W-20-2313-W2 | 134 | -52 | 1047 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2319 | 141 | -50 | 768 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2325 | 331 | -53 | 171 | 451946 | 5434809 | 406 | 2200 |
OSK-W-20-2326 | 335 | -50 | 156 | 451920 | 5434828 | 403 | 2175 |
OSK-W-20-2327 | 334 | -49 | 132 | 451899 | 5434812 | 401 | 2150 |
OSK-W-20-2328 | 136 | -56 | 942 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2330 | 333 | -48 | 156 | 451912 | 5434792 | 402 | 2150 |
OSK-W-20-2332 | 335 | -49 | 222 | 452019 | 5434790 | 406 | 2250 |
OSK-W-20-2346 | 130 | -53 | 1161 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2354 | 336 | -60 | 759 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2362 | 350 | -45 | 256 | 452719 | 5434777 | 398 | 2850 |
OSK-W-20-2377 | 132 | -49 | 1326 | 452702 | 5435548 | 409 | 3225 |
OSK-W-20-2384 | 127 | -52 | 1164 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2389 | 328 | -57 | 701 | 452689 | 5434635 | 398 | 2750 |
WST-20-0011 | 157 | -54 | 451 | 453105 | 5435065 | 231 | 3325 |
WST-20-0346 | 136 | -18 | 391 | 452282 | 5434975 | 264 | 2575 |
WST-20-0347 | 134 | -14 | 369 | 452282 | 5434975 | 264 | 2575 |
WST-20-0348 | 127 | -14 | 311 | 452282 | 5434976 | 264 | 2575 |
WST-20-0349 | 140 | -19 | 378 | 452282 | 5434975 | 263 | 2575 |
WST-20-0476 | 132 | -33 | 403 | 452282 | 5434975 | 263 | 2575 |
WST-20-0477 | 131 | -30 | 394 | 452282 | 5434976 | 263 | 2575 |
WST-20-0480B | 142 | -52 | 382 | 452281 | 5434975 | 262 | 2575 |
WST-20-0518 | 135 | -53 | 441 | 452282 | 5434975 | 263 | 2575 |
WST-20-0520 | 133 | -46 | 388 | 452281 | 5434975 | 263 | 2575 |
WST-20-0533 | 143 | -26 | 133 | 453315 | 5435165 | 124 | 3575 |
WST-20-0534 | 143 | -32 | 135 | 453315 | 5435165 | 124 | 3575 |
WST-20-0535 | 143 | -37 | 138 | 453315 | 5435165 | 124 | 3575 |
WST-20-0536 | 132 | -27 | 135 | 453316 | 5435166 | 124 | 3575 |
WST-20-0549 | 141 | -13 | 396 | 452208 | 5434898 | 249 | 2475 |
WST-20-0565 | 134 | -12 | 354 | 452208 | 5434898 | 249 | 2475 |
WST-20-0566A | 133 | -16 | 368 | 452208 | 5434898 | 248 | 2475 |
WST-20-0568 | 158 | -58 | 493 | 453104 | 5435065 | 231 | 3325 |
WST-20-0582 | 176 | -56 | 144 | 453177 | 5435125 | 173 | 3425 |
WST-20-0586 | 167 | -13 | 193 | 453418 | 5435305 | 69 | 3725 |
WST-20-0587 | 145 | -43 | 205 | 453418 | 5435305 | 69 | 3725 |
WST-20-0589 | 147 | -55 | 376 | 452281 | 5434975 | 263 | 2575 |
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 occurs as quartz-carbonate-pyrite-tourmaline vein-type 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.
Zone 27
Mineralization is typically characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, and local quartz-carbonate veins. Local visible gold is observed as small specks or clusters with quartz veins. Alteration consists of moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite. Mineralization is hosted in strongly altered andesites or in or at the contact of the rhyolite.
Caribou Zone
Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.
F-Zone
Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.
Mallard
Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.
Bobcat
Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Local visible gold is associated with carbonate ± silica ± chlorite alteration. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, QualityAssurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO WINDFALL INFILL DRILLING
New Intercepts Include 90.5 g/t Au Over 9.7 Metres in Triple Lynx
(Toronto, January 18, 2021) 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: “Broken record alert, infill drilling continues to show both the continuity and high-grade nature of Lynx, consistently returning good results on grade and widths as demonstrated by today’s headline hole. We are advancing our work on the deposit at full speed, with over 35 drills active on surface and underground.”
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 46 intercepts in 17 drill holes and 14 wedges.
Selected high-grade intercepts from the new results include: 90.5 g/t Au over 9.7 meters in OSK-W-20-2252-W7; 59.5 g/t Au over 2.0 metres in OSK-W-20-2292-W5; 38.4 g/t Au over 5.5 meters in OSK-W-20-2252-W8; 37.1 g/t Au over 2.0 metres in WST-20-0542A; 32.2 g/t Au over 3.7 metres in OSK-W-20-2243-W6. 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-20-2139-W12 | 913.0 | 915.0 | 2.0 | 3.96 | Lynx_361 | Triple Lynx | |
OSK-W-20-2243-W6 | 925.2 | 928.9 | 3.7 | 32.2 | Triple Lynx | Triple Lynx | |
including | 927.2 | 928.2 | 1.0 | 55.2 | |||
OSK-W-20-2252-W7 | 861.3 | 866.6 | 5.3 | 4.54 | Triple Lynx | Triple Lynx | |
including | 866.3 | 866.6 | 0.3 | 16.6 | |||
871.0 | 876.0 | 5.0 | 5.45 | Triple Lynx | Triple Lynx | ||
900.0 | 909.7 | 9.7 | 90.5 | 32.3 | Lynx_371 | Triple Lynx | |
including | 904.7 | 905.2 | 0.5 | 324 | 100 | ||
and | 905.6 | 906.2 | 0.6 | 725 | 100 | ||
911.2 | 913.3 | 2.1 | 7.79 | Lynx_361 | Triple Lynx | ||
including | 912.1 | 912.4 | 0.3 | 33.7 | |||
961.9 | 964.0 | 2.1 | 13.7 | Lynx_363 | Triple Lynx | ||
including | 962.8 | 963.1 | 0.3 | 75.9 | |||
987.0 | 989.3 | 2.3 | 3.76 | Lynx_364 | Triple Lynx | ||
OSK-W-20-2252-W8 | 877.0 | 879.0 | 2.0 | 4.30 | Lynx_371 | Triple Lynx | |
921.8 | 924.1 | 2.3 | 23.7 | Lynx_361 | Triple Lynx | ||
including | 922.8 | 923.4 | 0.6 | 62.1 | |||
967.0 | 972.5 | 5.5 | 38.4 | Lynx_363 | Triple Lynx | ||
including | 969.6 | 970.6 | 1.0 | 91.7 | |||
and | 970.6 | 971.6 | 1.0 | 69.5 | |||
OSK-W-20-2271-W2 | 1038.0 | 1040.0 | 2.0 | 3.79 | Lynx_330 | Lynx | |
OSK-W-20-2275 | 756.0 | 758.0 | 2.0 | 4.76 | Triple Lynx | Triple Lynx | |
OSK-W-20-2275-W3 | 864.7 | 867.2 | 2.5 | 3.68 | Triple Lynx | Triple Lynx | |
OSK-W-20-2275-W4 | 933.9 | 936.2 | 2.3 | 3.62 | Triple Lynx | Triple Lynx | |
OSK-W-20-2280-W3 | 1039.0 | 1041.0 | 2.0 | 4.33 | Lynx_363 | Triple Lynx | |
including | 1039.6 | 1039.9 | 0.3 | 26.3 | |||
1045.0 | 1047.0 | 2.0 | 4.58 | Lynx_363 | Triple Lynx | ||
including | 1046.2 | 1046.5 | 0.3 | 28.8 | |||
OSK-W-20-2280-W4 | 1124.0 | 1129.0 | 5.0 | 7.04 | Lynx_370 | Triple Lynx | |
including | 1125.3 | 1125.8 | 0.5 | 30.0 | |||
OSK-W-20-2280-W5 | 888.7 | 890.7 | 2.0 | 19.2 | Triple Lynx | Triple Lynx | |
including | 890.1 | 890.7 | 0.6 | 62.3 | |||
OSK-W-20-2283-W1 | 826.0 | 828.0 | 2.0 | 3.91 | Triple Lynx | Triple Lynx | |
OSK-W-20-2283-W6 | 844.8 | 847.0 | 2.2 | 3.62 | Triple Lynx | Triple Lynx | |
including | 844.8 | 845.3 | 0.5 | 13.0 | |||
OSK-W-20-2292-W5 | 1039.0 | 1041.0 | 2.0 | 59.5 | 20.3 | Triple Lynx | Triple Lynx |
including | 1039.4 | 1039.8 | 0.4 | 296 | 100 | ||
OSK-W-20-2292-W6 | 884.4 | 886.5 | 2.1 | 8.95 | Triple Lynx | Triple Lynx | |
OSK-W-20-2345 | 144.2 | 150.0 | 5.8 | 4.23 | Lynx_355 | Lynx | |
OSK-W-20-2350 | 112.5 | 115.0 | 2.5 | 22.9 | 20.6 | Lynx_335 | Lynx |
including | 113.5 | 113.9 | 0.4 | 115 | 100 | ||
137.0 | 139.0 | 2.0 | 16.3 | 15.8 | Lynx_355 | Lynx | |
including | 137.5 | 137.8 | 0.3 | 103 | 100 | ||
OSK-W-20-2363 | 686.0 | 688.0 | 2.0 | 3.82 | Lynx_365 | Triple Lynx | |
WST-20-0011 | 295.4 | 297.6 | 2.2 | 3.66 | Lynx SW | Lynx | |
including | 296.4 | 297.0 | 0.6 | 11.4 | |||
WST-20-0490 | 114.0 | 116.1 | 2.1 | 28.1 | 27.7 | Lynx_339 | Lynx |
including | 115.4 | 115.8 | 0.4 | 102 | 100 | ||
294.3 | 296.4 | 2.1 | 5.57 | Triple Lynx | Triple Lynx | ||
including | 295.7 | 296.1 | 0.4 | 21.7 | |||
WST-20-0498 | 142.0 | 144.0 | 2.0 | 3.38 | Lynx | Lynx | |
WST-20-0503 | 54.0 | 56.0 | 2.0 | 3.76 | Lynx_311 | Lynx | |
WST-20-0505A | 280.0 | 282.0 | 2.0 | 3.19 | Lynx SW | Lynx SW | |
WST-20-0516 | 168.0 | 170.0 | 2.0 | 23.8 | Lynx_359 | Lynx | |
including | 168.5 | 169.3 | 0.8 | 43.0 | |||
WST-20-0525 | 159.7 | 161.8 | 2.1 | 10.8 | Lynx_359 | Lynx | |
including | 160.3 | 160.6 | 0.3 | 52.7 | |||
WST-20-0536 | 91.0 | 93.0 | 2.0 | 14.2 | Lynx_304 | Lynx | |
including | 91.7 | 92.1 | 0.4 | 66.9 | |||
98.0 | 100.0 | 2.0 | 13.5 | Lynx_304 | Lynx | ||
including | 98.6 | 98.9 | 0.3 | 83.8 | |||
111.0 | 113.0 | 2.0 | 8.90 | Lynx_359 | Lynx | ||
including | 111.8 | 112.6 | 0.8 | 22.2 | |||
117.0 | 119.0 | 2.0 | 3.26 | Lynx_359 | Lynx | ||
WST-20-0537 | 99.8 | 101.9 | 2.1 | 5.28 | Lynx_304 | Lynx | |
WST-20-0542A | 46.9 | 49.1 | 2.2 | 30.3 | Lynx_303 | Lynx | |
including | 46.9 | 47.6 | 0.7 | 94.0 | |||
64.3 | 66.3 | 2.0 | 37.1 | Lynx_323 | Lynx | ||
including | 65.2 | 66.3 | 1.1 | 63.3 | |||
WST-20-0545 | 95.7 | 98.0 | 2.3 | 18.1 | Lynx_304 | Lynx | |
124.0 | 127.1 | 3.1 | 10.6 | Lynx_359 | Lynx | ||
including | 126.6 | 127.1 | 0.5 | 46.2 | |||
WST-20-0569 | 243.0 | 245.0 | 2.0 | 13.7 | Lynx SW | Lynx SW | |
including | 243.8 | 244.2 | 0.4 | 67.3 | |||
WST-20-0571 | 413.0 | 415.0 | 2.0 | 6.65 | Lynx SW | Lynx SW | |
including | 413.0 | 414.0 | 1.0 | 13.3 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.
SW= Southwest
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-2139-W12 | 115 | -52 | 1038 | 452980 | 5435549 | 420 | 3450 |
OSK-W-20-2243-W6 | 122 | -54 | 965 | 453086 | 5435526 | 417 | 3550 |
OSK-W-20-2252-W7 | 129 | -54 | 1191 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2252-W8 | 129 | -54 | 1239 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2271-W2 | 120 | -53 | 1223 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2275 | 127 | -49 | 1094 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2275-W3 | 127 | -49 | 1050 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2275-W4 | 127 | -49 | 1052 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2280-W3 | 127 | -58 | 1191 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W4 | 127 | -58 | 1215 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W5 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W1 | 135 | -50 | 1035 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W6 | 135 | -50 | 957 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2292-W5 | 125 | -54 | 1134 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2292-W6 | 125 | -54 | 1110 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2345 | 336 | -62 | 162 | 452828 | 5434780 | 397 | 2950 |
OSK-W-20-2350 | 324 | -62 | 177 | 452854 | 5434793 | 397 | 2975 |
OSK-W-20-2363 | 139 | -52 | 1031 | 452930 | 5435548 | 419 | 3425 |
WST-20-0011 | 157 | -54 | 451 | 453105 | 5435065 | 231 | 3325 |
WST-20-0490 | 160 | -31 | 430 | 453256 | 5435209 | 97 | 3525 |
WST-20-0498 | 132 | -11 | 169 | 453228 | 5435126 | 136 | 3475 |
WST-20-0503 | 148 | 6 | 99 | 453105 | 5435065 | 232 | 3325 |
WST-20-0505A | 183 | -45 | 331 | 453227 | 5435125 | 134 | 3475 |
WST-20-0516 | 168 | -33 | 195 | 453418 | 5435305 | 69 | 3725 |
WST-20-0525 | 165 | -20 | 187 | 453418 | 5435305 | 69 | 3725 |
WST-20-0536 | 132 | -27 | 135 | 453316 | 5435166 | 124 | 3575 |
WST-20-0537 | 132 | -32 | 139 | 453316 | 5435166 | 124 | 3575 |
WST-20-0542A | 156 | -30 | 138 | 453315 | 5435165 | 124 | 3550 |
WST-20-0545 | 112 | -24 | 148 | 453316 | 5435166 | 124 | 3575 |
WST-20-0569 | 165 | -59 | 526 | 453104 | 5435065 | 231 | 3325 |
WST-20-0571 | 167 | -55 | 465 | 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
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, QualityAssurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO MINING ANNOUNCES C$60 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
(Toronto, January 15, 2021) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation“) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters“) in connection with a “bought deal” private placement financing (the “Offering“) of an aggregate of 11,215,000 common shares of the Corporation that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act(Québec)) (the “Flow-Through Shares“).
The Flow-Through Shares will be issued at a price of C$5.35 (the “Issue Price“) for aggregate gross proceeds of C$60,000,250. In addition, the Corporation will grant the Underwriters an option (the “Underwriter’s Option”) to sell an additional 1,870,000 Flow-Through Shares, at the Issue Price for additional gross proceeds of C$10,004,500,exercisable 48 hours prior to closing.
The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Corporation to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures“) related to the Corporation’s projects in Québec on or before December 31, 2022. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2021.
The Offering is expected to close on or about February 12, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The Flow-Through Shares to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Osisko Mining Inc.
The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19, 2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
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 and projections as at the date of this news release. The information in this news release about the Offering; the use of the proceeds from the Offering; the jurisdictions in which the Flow-Through Shares will be offered or sold; the number of Flow-Through Shares offered or sold; the size of the Offering; the timing and ability of the Corporation to close the Offering, if at all; the timing and ability of the Corporation to satisfy the customary listing conditions of the Toronto Stock Exchange, if at all; the timing and ability of the Corporation to obtain all necessary approvals; the tax treatment of the securities issued under the Offering under the Income Tax Act (Canada) and Taxation Act (Québec); the timing to renounce all Qualifying Expenditures in favour of the subscribers, if at all; 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, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “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 Osisko, 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 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 Offering; volatility in the trading price of common shares of the Corporation; risks relating to the ability of the Corporation to obtain required approvals, complete definitive documentation and complete the Offering; the ability of Osisko to complete further exploration activities, including drilling; property interests; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; changes in the tax and regulatory regime; 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 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
Chief Executive Officer
Telephone: (416) 363-8653
OSISKO WINDFALL DRILLING STEPS OUT INTO MORE … GOLD
New Intercepts Include 344 g/t Au Over 2.2 Metres in Triple Lynx
(Toronto, January 11, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Today’s new intersections are all from outside the published 2020 resource area and highlight the strong upside growth potential of our deposit. Step-out drilling remains focused on the open down plunge areas of known mineralized corridors in the Lynx area as well as some other high potential areas.”
The table below shows intercepts located outside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). These intercepts either expand the resource wireframes or are located in a defined zone/corridor but not yet correlated to a specific wireframe. Significant new analytical results are presented below and include 80 intercepts in 27 drill holes and 22 wedges.
Selected high-grade intercepts from the new results include: 344 g/t Au over 2.2 metres in OSK-W-20-2313-W2; 114 g/t Au over 2.6 metres in OSK-W-20-2280-W5; 90.2 g/t Au over 2.0 metres in WST-20-0380; 74.2 g/t Au over 2.2 metres in OSK-W-19-1949-W3; and 26.7 g/t Au over 7.0 metres in WST-20-0078. Maps showing hole locations and full analytical results are available at www.osiskomining.com
Expansion Drilling
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-19-1949-W3 | 737.4 | 739.6 | 2.2 | 74.2 | 47 | Lynx | Lynx |
including | 737.4 | 737.8 | 0.4 | 133 | 100 | ||
and | 737.8 | 738.3 | 0.5 | 194 | 100 | ||
OSK-W-20-2133-W4 | 946.6 | 951.7 | 5.1 | 3.47 | Lynx_331 | Lynx | |
956.7 | 960.1 | 3.4 | 23.2 | Lynx_331 | Lynx | ||
including | 957.7 | 958.7 | 1.0 | 60.6 | |||
OSK-W-20-2139-W12 | 873.4 | 875.4 | 2.0 | 10.2 | Triple Lynx | Triple Lynx | |
998.0 | 1000.0 | 2.0 | 5.67 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2170-W6 | 1367.8 | 1370.0 | 2.2 | 6.61 | Lynx 4 | Lynx | |
1379.0 | 1381.0 | 2.0 | 14.5 | Lynx 4 | Lynx | ||
OSK-W-19-2182 | 97.0 | 99.0 | 2.0 | 9.65 | Lynx | Lynx | |
OSK-W-20-2251 | 1836.0 | 1838.0 | 2.0 | 21.0 | 20.3 | Triple Lynx | Triple Lynx |
including | 1836.9 | 1837.3 | 0.4 | 104 | 100 | ||
1908.6 | 1910.6 | 2.0 | 5.24 | Triple Lynx | Triple Lynx | ||
including | 1908.6 | 1909.2 | 0.6 | 15.9 | |||
OSK-W-20-2251-W1 | 2112.0 | 2114.0 | 2.0 | 8.45 | Lynx 4 | Lynx | |
OSK-W-20-2252-W4 | 1059.0 | 1061.0 | 2.0 | 12.5 | Triple Lynx | Triple Lynx | |
1100.2 | 1104.9 | 4.7 | 6.74 | Triple Lynx | Triple Lynx | ||
including | 1100.2 | 1100.6 | 0.4 | 22.7 | |||
and | 1104.3 | 1104.9 | 0.6 | 33.2 | |||
1109.4 | 1113.6 | 4.2 | 19.2 | Triple Lynx | Triple Lynx | ||
including | 1111.0 | 1111.7 | 0.7 | 40.6 | |||
OSK-W-20-2252-W5 | 1017.7 | 1020.0 | 2.3 | 8.54 | Triple Lynx | Triple Lynx | |
including | 1018.5 | 1019.0 | 0.5 | 35.3 | |||
OSK-W-20-2256-W6 | 1051.0 | 1054.0 | 3.0 | 12.0 | Triple Lynx | Triple Lynx | |
including | 1052.1 | 1053.0 | 0.9 | 37.7 | |||
OSK-W-20-2264 | 814.8 | 821.8 | 7.0 | 11.7 | Lynx 4 | Lynx | |
including | 816.3 | 816.8 | 0.5 | 31.4 | |||
and | 818.8 | 819.6 | 0.8 | 57.5 | |||
863.3 | 865.3 | 2.0 | 6.29 | Lynx 4 | Lynx | ||
OSK-W-20-2271-W1 | 752.1 | 754.2 | 2.1 | 5.05 | Lynx | Lynx | |
784.3 | 786.5 | 2.2 | 4.38 | Lynx | Lynx | ||
840.1 | 842.2 | 2.1 | 4.57 | Lynx | Lynx | ||
including | 841.9 | 842.2 | 0.3 | 19.7 | |||
1032.0 | 1034.0 | 2.0 | 26.3 | Lynx 4 | Lynx | ||
including | 1033.0 | 1033.5 | 0.5 | 97.5 | |||
1049.0 | 1051.0 | 2.0 | 7.98 | Lynx | Lynx | ||
OSK-W-20-2271-W2 | 814.0 | 816.9 | 2.9 | 6.00 | Lynx | Lynx | |
OSK-W-20-2280-W2 | 1059.8 | 1062.0 | 2.2 | 30.7 | Triple Lynx | Triple Lynx | |
including | 1060.8 | 1062.0 | 1.2 | 53.2 | |||
OSK-W-20-2280-W5 | 976.8 | 979.4 | 2.6 | 114 | 29.3 | Lynx_368 | Triple Lynx |
including | 976.8 | 977.5 | 0.7 | 416 | 100 | ||
1070.0 | 1074.0 | 4.0 | 22.0 | Triple Lynx | Triple Lynx | ||
including | 1072.3 | 1073.2 | 0.9 | 52.3 | |||
OSK-W-20-2283-W2 | 945.0 | 947.0 | 2.0 | 15.7 | Triple Lynx | Triple Lynx | |
including | 946.0 | 947.0 | 1.0 | 31.1 | |||
OSK-W-20-2292-W1 | 559.2 | 561.5 | 2.3 | 11.6 | Triple Lynx | Triple Lynx | |
1014.6 | 1016.6 | 2.0 | 5.46 | Triple Lynx | Triple Lynx | ||
1115.0 | 1117.0 | 2.0 | 4.39 | Triple Lynx | Triple Lynx | ||
1122.6 | 1125.0 | 2.4 | 12.6 | Triple Lynx | Triple Lynx | ||
including | 1123.8 | 1124.5 | 0.7 | 28.1 | |||
OSK-W-20-2292-W2 | 560.0 | 562.0 | 2.0 | 6.43 | Triple Lynx | Triple Lynx | |
including | 560.0 | 560.5 | 0.5 | 21.2 | |||
OSK-W-20-2295-W1 | 477.6 | 479.7 | 2.1 | 20.4 | Lynx_365 | Triple Lynx | |
including | 477.9 | 478.5 | 0.6 | 69.8 | |||
805.0 | 807.0 | 2.0 | 17.5 | Triple Lynx | Triple Lynx | ||
including | 805.5 | 806.4 | 0.9 | 36.3 | |||
OSK-W-20-2295-W2 | 477.0 | 479.1 | 2.1 | 3.60 | Lynx_365 | Triple Lynx | |
826.2 | 828.2 | 2.0 | 13.0 | Triple Lynx | Triple Lynx | ||
including | 827.6 | 828.2 | 0.6 | 38.3 | |||
OSK-W-20-2295-W3 | 689.0 | 691.0 | 2.0 | 7.23 | Triple Lynx | Triple Lynx | |
including | 689.5 | 690.0 | 0.5 | 27.4 | |||
OSK-W-20-2295-W4 | 757.0 | 759.3 | 2.3 | 4.08 | Triple Lynx | Triple Lynx | |
including | 757.0 | 757.5 | 0.5 | 10.1 | |||
1026.0 | 1028.1 | 2.1 | 16.3 | Triple Lynx | Triple Lynx | ||
including | 1027.6 | 1028.1 | 0.5 | 65.5 | |||
OSK-W-20-2313 | 864.0 | 870.0 | 6.0 | 5.58 | Triple Lynx | Triple Lynx | |
including | 864.0 | 864.6 | 0.6 | 23.8 | |||
1035.4 | 1037.6 | 2.2 | 13.0 | Triple Lynx | Triple Lynx | ||
including | 1036.4 | 1037.0 | 0.6 | 47.4 | |||
OSK-W-20-2313-W2 | 645.8 | 648.0 | 2.2 | 344 | 13.7 | Triple Lynx | Triple Lynx |
including | 647.1 | 647.4 | 0.3 | 2520 | 100 | ||
OSK-W-20-2313-W3 | 849.7 | 852.0 | 2.3 | 12.9 | Triple Lynx | Triple Lynx | |
including | 850.2 | 850.5 | 0.3 | 98.8 | |||
OSK-W-20-2313-W6 | 730.0 | 732.0 | 2.0 | 4.13 | Triple Lynx | Triple Lynx | |
OSK-W-20-2317 | 621.0 | 623.0 | 2.0 | 7.24 | Triple Lynx | Triple Lynx | |
662.0 | 664.2 | 2.2 | 3.81 | Triple Lynx | Triple Lynx | ||
including | 663.7 | 664.2 | 0.5 | 13.1 | |||
741.0 | 743.4 | 2.4 | 5.05 | Triple Lynx | Triple Lynx | ||
including | 741.8 | 742.4 | 0.6 | 19.8 | |||
OSK-W-20-2319 | 514.0 | 516.7 | 2.7 | 19.1 | Lynx | Lynx | |
including | 514.0 | 514.4 | 0.4 | 88.7 | |||
589.4 | 591.9 | 2.5 | 21.9 | 20.7 | Lynx | Lynx | |
including | 591.4 | 591.9 | 0.5 | 106 | 100 | ||
OSK-W-20-2328 | 525.0 | 527.0 | 2.0 | 6.68 | Lynx SW | Lynx SW | |
including | 525.0 | 526.0 | 1.0 | 13.1 | |||
669.0 | 671.7 | 2.7 | 6.43 | Lynx SW | Lynx SW | ||
including | 670.4 | 670.7 | 0.3 | 45.8 | |||
859.5 | 861.5 | 2.0 | 9.69 | Lynx 4 | Lynx | ||
including | 860.4 | 861.0 | 0.6 | 31.1 | |||
OSK-W-20-2334 | 728.0 | 730.3 | 2.3 | 7.87 | Lynx | Lynx | |
OSK-W-20-2339 | 933.0 | 935.0 | 2.0 | 5.27 | Triple Lynx | Triple Lynx | |
944.0 | 946.0 | 2.0 | 5.05 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2351 | 699.0 | 701.0 | 2.0 | 9.84 | Lynx_376 | Triple Lynx | |
including | 699.7 | 700.2 | 0.5 | 37.6 | |||
OSK-W-20-2353 | 978.8 | 981.0 | 2.2 | 3.80 | Triple Lynx | Triple Lynx | |
including | 978.8 | 979.3 | 0.5 | 11.6 | |||
1295.2 | 1297.3 | 2.1 | 4.49 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2370 | 109.1 | 111.6 | 2.5 | 3.80 | Lynx SW | Lynx SW | |
WST-20-0012D | 305.6 | 308.0 | 2.4 | 4.47 | Lynx SW | Lynx SW | |
317.0 | 319.0 | 2.0 | 18.0 | Lynx SW | Lynx SW | ||
including | 317.6 | 318.3 | 0.7 | 48.7 | |||
394.5 | 396.5 | 2.0 | 6.59 | Lynx SW | Lynx SW | ||
including | 395.3 | 395.9 | 0.6 | 21.4 | |||
WST-20-0078 | 263.4 | 270.4 | 7.0 | 26.7 | Triple Lynx | Triple Lynx | |
310.6 | 312.9 | 2.3 | 4.83 | Triple Lynx | Triple Lynx | ||
417.0 | 419.1 | 2.1 | 3.46 | Lynx SW | Lynx SW | ||
WST-20-0330 | 383.8 | 386.1 | 2.3 | 5.00 | Lynx SW | Lynx SW | |
including | 385.2 | 385.6 | 0.4 | 28.6 | |||
WST-20-0380 | 14.0 | 16.0 | 2.0 | 90.2 | 50.2 | Lynx | Lynx |
including | 15.0 | 16.0 | 1.0 | 180 | 100 | ||
WST-20-0401 | 141.0 | 143.0 | 2.0 | 4.33 | Lynx_301 | Lynx | |
WST-20-0425 | 59.0 | 61.7 | 2.7 | 3.73 | Lynx | Lynx | |
WST-20-0475 | 155.0 | 157.6 | 2.6 | 16.6 | Lynx_301 | Lynx | |
including | 155.7 | 156.3 | 0.6 | 65.6 | |||
WST-20-0482 | 38.0 | 40.4 | 2.4 | 4.25 | Lynx | Lynx | |
WST-20-0485 | 44.2 | 46.4 | 2.2 | 3.97 | Lynx_325 | Lynx | |
WST-20-0489 | 277.0 | 279.0 | 2.0 | 6.36 | Triple Lynx | Triple Lynx | |
WST-20-0516 | 106.0 | 108.0 | 2.0 | 5.56 | Lynx | Lynx | |
WST-20-0523A | 310.0 | 312.0 | 2.0 | 7.57 | Lynx SW | Lynx SW | |
WST-20-0529 | 214.8 | 217.4 | 2.6 | 8.53 | Lynx | Lynx | |
including | 215.5 | 215.8 | 0.3 | 19.0 | |||
227.9 | 230.1 | 2.2 | 8.48 | Lynx | Lynx | ||
including | 227.9 | 228.4 | 0.5 | 28.0 | |||
WST-20-0541 | 116.1 | 118.2 | 2.1 | 8.87 | Lynx_359 | Lynx | |
including | 116.1 | 116.7 | 0.6 | 30.4 | |||
WST-20-0546A | 234.0 | 238.0 | 4.0 | 4.10 | Lynx SW | Lynx SW | |
including | 237.7 | 238.0 | 0.3 | 17.6 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-19-1949-W3 | 105 | -57 | 1326 | 453440 | 5435479 | 401 | 3825 |
OSK-W-20-2133-W4 | 118 | -49 | 987 | 453080 | 5435531 | 417 | 3525 |
OSK-W-20-2139-W12 | 115 | -52 | 1038 | 452980 | 5435549 | 420 | 3450 |
OSK-W-20-2170-W6 | 128 | -59 | 1407 | 453425 | 5435657 | 413 | 3900 |
OSK-W-19-2182 | 132 | -50 | 141 | 453505 | 5435428 | 399 | 3850 |
OSK-W-20-2251 | 96 | -53 | 2053 | 453261 | 5435936 | 407 | 3900 |
OSK-W-20-2251-W1 | 96 | -53 | 2278 | 453261 | 5435936 | 407 | 3900 |
OSK-W-20-2252-W4 | 129 | -54 | 1143 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2252-W5 | 129 | -54 | 1092 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2256-W6 | 125 | -51 | 1157 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2264 | 292 | -74 | 1119 | 454127 | 5435062 | 396 | 4225 |
OSK-W-20-2271-W1 | 120 | -53 | 1200 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W2 | 120 | -53 | 1223 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2280-W2 | 127 | -58 | 1211 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W5 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W2 | 135 | -50 | 1011 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2292-W1 | 125 | -54 | 1149 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2292-W2 | 125 | -54 | 1002 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2295-W1 | 132 | -51 | 960 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W2 | 132 | -51 | 963 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W3 | 132 | -51 | 969 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W4 | 132 | -51 | 1082 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2313 | 134 | -52 | 1080 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W2 | 134 | -52 | 1047 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W3 | 134 | -52 | 1041 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W6 | 134 | -52 | 1029 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2317 | 129 | -55 | 900 | 453026 | 5435407 | 412 | 3425 |
OSK-W-20-2319 | 141 | -50 | 768 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2328 | 136 | -56 | 942 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2334 | 125 | -53 | 1166 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2339 | 144 | -50 | 1025 | 452961 | 5435441 | 414 | 3400 |
OSK-W-20-2351 | 141 | -49 | 1107 | 452895 | 5435539 | 410 | 3375 |
OSK-W-20-2353 | 129 | -50 | 1338 | 452732 | 5435570 | 405 | 3250 |
OSK-W-20-2370 | 351 | -46 | 297 | 452721 | 5434747 | 397 | 2850 |
WST-20-0012D | 174 | -62 | 465 | 453226 | 5435126 | 134 | 3475 |
WST-20-0078 | 154 | -62 | 525 | 453227 | 5435125 | 134 | 3475 |
WST-20-0330 | 183 | -34 | 422 | 453226 | 5435125 | 135 | 3475 |
WST-20-0380 | 159 | 11 | 85 | 453228 | 5435126 | 136 | 3475 |
WST-20-0401 | 159 | 29 | 162 | 453493 | 5435287 | 119 | 3775 |
WST-20-0425 | 161 | 18 | 166 | 453358 | 5435208 | 156 | 3625 |
WST-20-0475 | 135 | 41 | 174 | 453494 | 5435287 | 120 | 3775 |
WST-20-0482 | 165 | 9 | 181 | 453449 | 5435264 | 117 | 3725 |
WST-20-0485 | 148 | -44 | 181 | 453359 | 5435209 | 154 | 3625 |
WST-20-0489 | 174 | -31 | 415 | 453256 | 5435209 | 96 | 3525 |
WST-20-0516 | 168 | -33 | 195 | 453418 | 5435305 | 69 | 3725 |
WST-20-0523A | 166 | -46 | 387 | 453104 | 5435065 | 231 | 3325 |
WST-20-0529 | 305 | -42 | 426 | 453414 | 5435310 | 69 | 3725 |
WST-20-0541 | 150 | -28 | 138 | 453315 | 5435165 | 124 | 3575 |
WST-20-0546A | 175 | -51 | 484 | 453228 | 5435126 | 135 | 3475 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Triple Lynx
Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, QualityAssurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO WINDFALL INFILL DRILLING: STILL GOOD
New Intercepts Include 206 g/t Au over 2.0 Metres
(Toronto, January 6, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Drilling is currently focused on the Lynx deposit, with the near-term objective of completion of the infill program in preparation for feasibility work. Osisko Chief Executive Officer John Burzynski commented: “We anticipate a busy year ahead as we maintain the steady drill pace of 2020 and work towards the completion of infilling our resource. The principal mineralized zones also remain open down plunge, and near deposit exploration is continuing to give encouraging results, which we believe will lead to new mineralized extensions and additions.”
The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 90 intercepts in 25 drill holes and 23 wedges.
Selected high-grade intercepts from the new results include: 206 g/t Au over 2.0 metres in WST-20-0581; 60.0 g/t Au over 2.0 metres in WST-20-0498; 52.9 g/t Au over 2.8 metres in WST-20-0513; 47.5 g/t Au over 2.2 metres in OSK-W-20-2334; 42.4 g/t Au over 2.3 metres in WST-20-0523A; 40.4 g/t Au over 3.6 metres in OSK-W-20-2133-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-20-2133-W4 | 798.8 | 802.4 | 3.6 | 40.4 | Triple Lynx | Triple Lynx | |
including | 799.2 | 800.2 | 1.0 | 73.3 | |||
OSK-W-20-2243-W6 | 804.7 | 806.8 | 2.1 | 9.02 | Lynx_361 | Triple Lynx | |
851.4 | 854.8 | 3.4 | 23.5 | Triple Lynx | Triple Lynx | ||
including | 853.1 | 853.9 | 0.8 | 68.9 | |||
OSK-W-20-2252-W7 | 842.6 | 849.0 | 6.4 | 6.93 | Triple Lynx | Triple Lynx | |
including | 844.8 | 845.1 | 0.3 | 41.7 | |||
879.1 | 881.8 | 2.7 | 4.62 | Lynx_371 | Triple Lynx | ||
including | 879.4 | 879.7 | 0.3 | 16.0 | |||
885.0 | 889.0 | 4.0 | 4.70 | Lynx_371 | Triple Lynx | ||
893.9 | 896.7 | 2.8 | 5.67 | Lynx_371 | Triple Lynx | ||
919.7 | 923.0 | 3.3 | 4.45 | Lynx_361 | Triple Lynx | ||
including | 919.7 | 920.0 | 0.3 | 13.3 | |||
OSK-W-20-2256-W4 | 1012.0 | 1014.0 | 2.0 | 14.6 | Triple Lynx | Triple Lynx | |
OSK-W-20-2256-W6 | 868.8 | 872.6 | 3.8 | 24.4 | Lynx_371 | Triple Lynx | |
including | 869.7 | 870.3 | 0.6 | 79.5 | |||
875.0 | 879.0 | 4.0 | 4.91 | Lynx_371 | Triple Lynx | ||
883.0 | 892.0 | 9.0 | 18.2 | Lynx_361 | Triple Lynx | ||
including | 887.6 | 888.3 | 0.7 | 57.6 | |||
OSK-W-20-2256-W7 | 869.4 | 872.0 | 2.6 | 4.86 | Lynx_361 | Triple Lynx | |
899.0 | 901.0 | 2.0 | 15.4 | Triple Lynx | Triple Lynx | ||
including | 899.6 | 900.0 | 0.4 | 69.4 | |||
OSK-W-20-2264 | 782.2 | 790.0 | 7.8 | 10.5 | Lynx_330 | Lynx | |
including | 786.9 | 787.6 | 0.7 | 38.4 | |||
OSK-W-20-2271-W1 | 847.5 | 849.5 | 2.0 | 4.50 | Lynx | Lynx | |
OSK-W-20-2271-W2 | 1024.5 | 1026.9 | 2.4 | 32.1 | Lynx_330 | Lynx | |
including | 1026.6 | 1026.9 | 0.3 | 90.1 | |||
1064.0 | 1066.1 | 2.1 | 6.13 | Lynx_334 | Lynx | ||
including | 1065.2 | 1065.6 | 0.4 | 20.3 | |||
1077.0 | 1079.0 | 2.0 | 5.15 | Lynx_334 | Lynx | ||
OSK-W-20-2275-W3 | 899.0 | 901.0 | 2.0 | 10.8 | Triple Lynx | Triple Lynx | |
including | 900.3 | 900.7 | 0.4 | 43.3 | |||
OSK-W-20-2275-W4 | 635.0 | 637.1 | 2.1 | 7.18 | Lynx_365 | Triple Lynx | |
including | 636.1 | 636.5 | 0.4 | 25.6 | |||
804.8 | 810.4 | 5.6 | 11.8 | Triple Lynx | Triple Lynx | ||
including | 806.3 | 806.9 | 0.6 | 55.1 | |||
835.0 | 837.0 | 2.0 | 11.1 | Triple Lynx | Triple Lynx | ||
including | 835.6 | 836.0 | 0.4 | 54.7 | |||
889.5 | 892.0 | 2.5 | 5.40 | Triple Lynx | Triple Lynx | ||
including | 890.4 | 891.0 | 0.6 | 22.4 | |||
OSK-W-20-2280-W2 | 1102.7 | 1105.0 | 2.3 | 5.46 | Lynx_370 | Triple Lynx | |
including | 1103.5 | 1104.0 | 0.5 | 20.9 | |||
OSK-W-20-2280-W3 | 1099.2 | 1101.3 | 2.1 | 5.22 | Triple Lynx | Triple Lynx | |
including | 1101.0 | 1101.3 | 0.3 | 17.7 | |||
1103.0 | 1108.9 | 5.9 | 4.92 | Triple Lynx | Triple Lynx | ||
including | 1108.6 | 1108.9 | 0.3 | 18.2 | |||
1112.9 | 1116.0 | 3.1 | 20.1 | Lynx_370 | Triple Lynx | ||
including | 1112.9 | 1113.5 | 0.6 | 77.8 | |||
OSK-W-20-2280-W4 | 1040.0 | 1042.0 | 2.0 | 6.32 | Triple Lynx | Triple Lynx | |
1044.0 | 1046.0 | 2.0 | 4.83 | Triple Lynx | Triple Lynx | ||
including | 1044.6 | 1044.9 | 0.3 | 24.6 | Triple Lynx | Triple Lynx | |
1072.9 | 1077.5 | 4.6 | 12.8 | Triple Lynx | Triple Lynx | ||
including | 1075.5 | 1075.9 | 0.4 | 97.2 | |||
1091.2 | 1098.0 | 6.8 | 3.96 | Triple Lynx | Triple Lynx | ||
1100.7 | 1105.0 | 4.3 | 13.5 | 12.7 | Lynx_364 | Triple Lynx | |
including | 1100.7 | 1101.0 | 0.3 | 112 | 100 | ||
1109.7 | 1114.0 | 4.3 | 16.9 | 15.7 | Lynx_364 | Triple Lynx | |
including | 1109.7 | 1110.0 | 0.3 | 117 | 100 | ||
OSK-W-20-2280-W5 | 1010.5 | 1016.0 | 5.5 | 3.61 | Lynx_363 | Triple Lynx | |
1039.0 | 1041.0 | 2.0 | 22.4 | Lynx_364 | Triple Lynx | ||
including | 1039.5 | 1040.0 | 0.5 | 81.8 | |||
1046.0 | 1052.0 | 6.0 | 30.4 | 23.7 | Lynx_364 | Triple Lynx | |
including | 1047.8 | 1049.0 | 1.2 | 129 | 95 | ||
1054.0 | 1059.9 | 5.9 | 14.7 | Lynx_364 | Triple Lynx | ||
including | 1059.2 | 1059.9 | 0.7 | 82.8 | |||
1093.0 | 1096.0 | 3.0 | 12.0 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2283-W1 | 807.0 | 809.6 | 2.6 | 8.20 | Triple Lynx | Triple Lynx | |
including | 807.5 | 809.6 | 2.1 | 9.02 | |||
OSK-W-20-2283-W2 | 814.8 | 817.1 | 2.3 | 8.16 | Triple Lynx | Triple Lynx | |
including | 816.6 | 817.1 | 0.5 | 26.8 | |||
832.7 | 835.0 | 2.3 | 6.13 | Triple Lynx | Triple Lynx | ||
991.0 | 993.0 | 2.0 | 9.11 | Triple Lynx | Triple Lynx | ||
including | 991.3 | 991.8 | 0.5 | 35.7 | |||
OSK-W-20-2283-W6 | 831.6 | 836.0 | 4.4 | 17.6 | Lynx_361 | Triple Lynx | |
including | 833.3 | 834.6 | 1.3 | 40.6 | |||
OSK-W-20-2292-W4 | 892.0 | 894.9 | 2.9 | 4.02 | Lynx_375 | Triple Lynx | |
including | 893.1 | 893.8 | 0.7 | 10.3 | |||
OSK-W-20-2295-W2 | 679.7 | 682.0 | 2.3 | 24.7 | 17.4 | Triple Lynx | Triple Lynx |
including | 681.7 | 682.0 | 0.3 | 157 | 100 | ||
OSK-W-20-2295-W3 | 660.3 | 662.3 | 2.0 | 3.89 | Triple Lynx | Triple Lynx | |
OSK-W-20-2295-W4 | 670.1 | 673.1 | 3.0 | 5.99 | Triple Lynx | Triple Lynx | |
including | 670.1 | 670.6 | 0.5 | 16.6 | |||
698.0 | 700.1 | 2.1 | 4.33 | Triple Lynx | Triple Lynx | ||
including | 699.8 | 700.1 | 0.3 | 23.7 | |||
757.0 | 759.3 | 2.3 | 4.08 | Triple Lynx | Triple Lynx | ||
including | 757.0 | 757.5 | 0.5 | 10.1 | |||
822.5 | 824.5 | 2.0 | 3.90 | Triple Lynx | Triple Lynx | ||
including | 823.5 | 824.0 | 0.5 | 14.1 | |||
841.0 | 843.0 | 2.0 | 5.77 | Triple Lynx | Triple Lynx | ||
including | 841.4 | 841.7 | 0.3 | 31.5 | |||
OSK-W-20-2313-W5 | 819.9 | 822.0 | 2.1 | 7.49 | Lynx_376 | Triple Lynx | |
OSK-W-20-2322-W1 | 1119.8 | 1124.6 | 4.8 | 7.20 | Lynx_330 | Lynx | |
including | 1120.5 | 1121.2 | 0.7 | 13.8 | |||
OSK-W-20-2334 | 1007.1 | 1009.3 | 2.2 | 47.5 | 41.7 | Lynx_330 | Lynx |
including | 1008.0 | 1008.4 | 0.4 | 132 | 100 | ||
OSK-W-20-2367 | 59.0 | 62.0 | 3.0 | 6.38 | Lynx_335 | Lynx SW | |
WST-20-0406 | 130.2 | 132.4 | 2.2 | 3.26 | Lynx_322 | Lynx | |
WST-20-0486 | 57.5 | 63.7 | 6.2 | 15.1 | Lynx_303 | Lynx | |
including | 58.5 | 59.0 | 0.5 | 47.1 | |||
and | 59.7 | 60.1 | 0.4 | 46.1 | |||
114.0 | 116.0 | 2.0 | 10.5 | Lynx_304 | Lynx | ||
including | 115.4 | 116.0 | 0.6 | 27.6 | |||
WST-20-0498 | 123.5 | 125.7 | 2.2 | 3.84 | Lynx_304 | Lynx | |
132.5 | 134.5 | 2.0 | 60.0 | 41.3 | Lynx_304 | Lynx | |
including | 133.8 | 134.5 | 0.7 | 154 | 100 | ||
WST-20-0502 | 73.4 | 76.0 | 2.6 | 4.73 | Lynx_311 | Lynx | |
WST-20-0503 | 57.9 | 59.9 | 2.0 | 18.6 | Lynx_311 | Lynx | |
including | 57.9 | 58.7 | 0.8 | 46.1 | |||
WST-20-0505A | 84.5 | 87.0 | 2.5 | 9.07 | Lynx_307 | Lynx | |
including | 84.5 | 84.8 | 0.3 | 72.4 | |||
233.5 | 236.0 | 2.5 | 3.00 | Lynx SW | Lynx SW | ||
WST-20-0506 | 123.2 | 125.5 | 2.3 | 7.83 | Lynx_304 | Lynx | |
including | 123.9 | 124.7 | 0.8 | 22.4 | |||
WST-20-0509 | 94.4 | 96.5 | 2.1 | 4.24 | Lynx_304 | Lynx | |
including | 94.4 | 94.7 | 0.3 | 13.9 | |||
WST-20-0512 | 48.2 | 50.2 | 2.0 | 8.84 | Lynx_303 | Lynx | |
including | 49.3 | 49.9 | 0.6 | 29.1 | |||
54.0 | 56.0 | 2.0 | 21.1 | Lynx_311 | Lynx | ||
including | 54.9 | 55.4 | 0.5 | 83.8 | |||
WST-20-0513 | 138.0 | 140.8 | 2.8 | 52.9 | 44.5 | Lynx_323 | Lynx |
including | 139.0 | 139.9 | 0.9 | 126 | 100 | ||
151.8 | 154.0 | 2.2 | 3.67 | Lynx_304 | Lynx | ||
WST-20-0514 | 141.0 | 143.0 | 2.0 | 20.9 | Lynx_323 | Lynx | |
including | 141.0 | 142.0 | 1.0 | 32.5 | |||
WST-20-0523A | 67.2 | 69.4 | 2.2 | 14.8 | Lynx_311 | Lynx | |
including | 67.7 | 68.4 | 0.7 | 44.8 | |||
72.0 | 74.3 | 2.3 | 42.4 | Lynx_311 | Lynx | ||
including | 73.5 | 74.3 | 0.8 | 90.4 | |||
WST-20-0525 | 142.0 | 144.0 | 2.0 | 13.3 | Lynx_323 | Lynx | |
including | 142.0 | 143.0 | 1.0 | 26.4 | |||
WST-20-0537 | 84.9 | 87.1 | 2.2 | 6.49 | Lynx | Lynx | |
including | 86.4 | 87.1 | 0.7 | 16.1 | |||
WST-20-0538 | 105.0 | 107.2 | 2.2 | 15.0 | Lynx_304 | Lynx | |
including | 105.3 | 105.8 | 0.5 | 64.4 | |||
117.0 | 120.0 | 3.0 | 4.15 | Lynx | Lynx | ||
WST-20-0539 | 45.9 | 48.2 | 2.3 | 6.89 | Lynx_303 | Lynx | |
96.6 | 98.6 | 2.0 | 20.6 | Lynx_304 | Lynx | ||
including | 97.0 | 97.5 | 0.5 | 80.2 | |||
WST-20-0540 | 51.3 | 53.5 | 2.2 | 3.12 | Lynx_303 | Lynx | |
111.0 | 113.2 | 2.2 | 7.86 | Lynx_304 | Lynx | ||
including | 111.0 | 111.3 | 0.3 | 47.2 | |||
WST-20-0541 | 45.8 | 48.1 | 2.3 | 10.0 | Lynx_303 | Lynx | |
including | 46.4 | 47.2 | 0.8 | 25.6 | |||
60.1 | 62.3 | 2.2 | 13.8 | Lynx | Lynx | ||
including | 60.9 | 61.7 | 0.8 | 34.3 | |||
98.0 | 100.0 | 2.0 | 15.7 | Lynx_304 | Lynx | ||
including | 99.0 | 99.5 | 0.5 | 36.3 | |||
WST-20-0544 | 52.7 | 55.5 | 2.8 | 72.0 | 55.8 | Lynx_303 | Lynx |
including | 52.7 | 54.1 | 1.4 | 132 | 100 | ||
WST-20-0563 | 129.4 | 131.5 | 2.1 | 4.72 | Lynx_365 | Triple Lynx | |
including | 129.4 | 130.0 | 0.6 | 15.1 | |||
WST-20-0579 | 58.0 | 60.5 | 2.5 | 5.62 | Lynx_303 | Lynx | |
WST-20-0581 | 268.4 | 274.0 | 5.6 | 4.56 | Lynx SW | Lynx SW | |
283.0 | 285.0 | 2.0 | 206 | 45.4 | Lynx SW | Lynx SW | |
including | 283.0 | 283.9 | 0.9 | 458 | 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-20-2243-W6 | 122 | -54 | 965 | 453086 | 5435526 | 417 | 3550 |
OSK-W-20-2252-W7 | 129 | -54 | 1191 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2256-W4 | 125 | -51 | 1122 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2256-W6 | 125 | -51 | 1157 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2256-W7 | 125 | -51 | 1005 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2264 | 292 | -74 | 1119 | 454127 | 5435062 | 396 | 4225 |
OSK-W-20-2271-W1 | 120 | -53 | 1200 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W2 | 120 | -53 | 1223 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2275-W3 | 127 | -49 | 1050 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2275-W4 | 127 | -49 | 1052 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2280-W2 | 127 | -58 | 1211 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W3 | 127 | -58 | 1191 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W4 | 127 | -58 | 1215 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W5 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W1 | 135 | -50 | 1035 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W2 | 135 | -50 | 1011 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W6 | 135 | -50 | 957 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2292-W4 | 125 | -54 | 984 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2295-W2 | 132 | -51 | 963 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W3 | 132 | -51 | 969 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W4 | 132 | -51 | 1082 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2313-W5 | 134 | -52 | 1086 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2322-W1 | 130 | -54 | 1233 | 453608 | 5435715 | 403 | 4075 |
OSK-W-20-2334 | 125 | -53 | 1166 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2367 | 349 | -46 | 279 | 452742 | 5434761 | 398 | 2875 |
WST-20-0406 | 135 | -8 | 202 | 453494 | 5435287 | 117 | 3775 |
WST-20-0486 | 130 | -37 | 162 | 453359 | 5435209 | 154 | 3625 |
WST-20-0498 | 132 | -11 | 169 | 453228 | 5435126 | 136 | 3475 |
WST-20-0502 | 144 | -40 | 115 | 453105 | 5435065 | 231 | 3325 |
WST-20-0503 | 148 | 6 | 99 | 453105 | 5435065 | 232 | 3325 |
WST-20-0505A | 183 | -45 | 331 | 453227 | 5435125 | 134 | 3475 |
WST-20-0506 | 175 | 20 | 141 | 453357 | 5435208 | 156 | 3625 |
WST-20-0509 | 126 | -20 | 148 | 453316 | 5435166 | 124 | 3575 |
WST-20-0512 | 159 | -10 | 139 | 453315 | 5435164 | 125 | 3575 |
WST-20-0513 | 147 | -25 | 184 | 453418 | 5435305 | 69 | 3725 |
WST-20-0514 | 154 | -26 | 181 | 453418 | 5435305 | 69 | 3725 |
WST-20-0523A | 166 | -46 | 387 | 453104 | 5435065 | 231 | 3325 |
WST-20-0525 | 165 | -20 | 187 | 453418 | 5435305 | 69 | 3725 |
WST-20-0537 | 132 | -32 | 139 | 453316 | 5435166 | 124 | 3575 |
WST-20-0538 | 130 | -37 | 142 | 453316 | 5435166 | 124 | 3575 |
WST-20-0539 | 122 | -29 | 139 | 453316 | 5435166 | 124 | 3575 |
WST-20-0540 | 129 | -42 | 147 | 453316 | 5435166 | 124 | 3575 |
WST-20-0541 | 150 | -28 | 138 | 453315 | 5435165 | 124 | 3575 |
WST-20-0544 | 144 | -43 | 144 | 453315 | 5435165 | 124 | 3575 |
WST-20-0563 | 324 | -40 | 248 | 453255 | 5435214 | 96 | 3525 |
WST-20-0579 | 162 | -38 | 144 | 453315 | 5435165 | 124 | 3575 |
WST-20-0581 | 181 | -60 | 474 | 453177 | 5435126 | 173 | 3425 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Triple Lynx
Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653