4.1 Million Ounces Measured and Indicated Resource Averaging 11.4 g/t Au

3.3 Million Ounces Inferred Resource Averaging 8.4 g/t Au

 

(Toronto, August 30, 2022) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide an updated mineral resource estimate (“MRE”) for its 100% owned world-class high-grade Windfall gold deposit, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

This robust MRE includes approximately 1.9 million metres of drilling, with 1.7 million metres completed by Osisko since October 2015, completed as of May 2022 and all analytical results received as of June 7, 2022.  The MRE will form the basis of the pending Windfall Project Feasibility Study, scheduled for delivery by YE2022.2022-08-30 MRE and upside potential_EN

 

HIGHLIGHTS

• 4.1 M oz Au measured & indicated (“M&I”) resource averaging 11.4 g/t Au
• M&I resource ounces increase of 26% (0.8 M oz Au)
• M&I resource grade increase of 8%
• Lynx contains 65% of MRE total (M&I 3.1 M oz averaging 13.0 g/t Au; Inferred 1.7 M oz averaging 10.8 g/t Au)
• 50% of the MRE is hosted in 26 wireframes; 75% of MRE is hosted in 97 wireframes
• 98% of MRE is located from surface to 1200 m vertical depth
• Exploration ramp access is currently at 635 m vertical depth in Lynx
• Extraction and transportation of the Lynx 600 bulk sample is completed, processing at custom mill pending and results on schedule for early Q4 2022
• Feasibility study on schedule for YE2022.

 

Chief Executive Officer of Osisko John Burzynski commented: “We’ve had a busy summer and have successfully completed another significant milestone at Windfall. With this final MRE update prior to our pending feasibility study, we have met and exceeded our objectives for the Windfall drill program:  a robust measured and indicated resource of over 4 million ounces with an average grade of over 10 g/t Au. The scale of Windfall and the deposit grade has steadily increased since Osisko’s discovery of Lynx in late 2016.  Lynx now represents almost two-thirds (65%) of the total gold in the MRE, and it continues to impress with a stand-alone total M&I resource of 3.1 M oz averaging 13.0 g/t Au.”

 

Mr. Burzynski continued: “Importantly, we completed the extraction and the transportation of the Lynx 600 (Triple Lynx) bulk sample in August, and the custom mill is being prepared for treating the test material.  We expect to have the processed results in hand for this high-grade sample by early October and anticipate that it will once again confirm a higher grade than indicated by drilling. As a reminder, the processing of the prior two bulk samples from the upper areas of the deposit returned results that were 26% and 89% higher grade than anticipated from drilling (please see Osisko news releases dated June 11 and December 11, 2019).  Finally, work is advancing well on the Windfall feasibility study, and we are on track for delivery by YE2022.”

 

The MRE tables below show the sensitivity to cut-off grades (Table 1) and the resources by area of the Windfall deposit (Table 2).

 

Table 1: Windfall Gold Deposit Mineral Resource Estimate Sensitivity Table

Cut-off 2 (g/t Au)	Measured + Indicated					Inferred
	Tonnes1 (000 t)	Gold (g/t)	Ag (g/t)	Ounces Au1  (000 oz)	Ounces Ag1 (000 oz)	Tonnes1 (000 t)	Gold (g/t)	Ag (g/t)	Ounces Au1  (000 oz)	Ounces Ag1 (000 oz)
5.0	8,213	13.9	7.0	3,667	1,854	7,986	10.7	6.0	2,760	1,545
4.5	9,029	13.1	6.7	3,791	1,935	9,078	10.0	5.6	2,927	1,638
4.0	9,950	12.2	6.3	3,917	2,020	10,561	9.2	5.2	3,129	1,754
3.5	11,061	11.4	5.9	4,050	2,114	12,287	8.4	4.8	3,337	1,892
3.0	12,388	10.5	5.6	4,188	2,217	14,299	7.7	4.4	3,547	2,033
2.5	18,526	9.8	4.8	5,848	2,849	20,397	7.0	3.8	4,583	2,496

Notes:  ¹Values are rounded to nearest thousand which may cause apparent discrepancies.  ²MRE cut-off: 3.5 g/t Au. ³The cut-off grade variation is not applicable to the material in the Stockpiles.

 

Table 2: Windfall Gold Deposit Mineral Resource Estimate by Area (3.5 g/t Au cut-off)

Area	Measured					Indicated					Inferred
	Tonnes1 (000 t)	Gold (g/t)	Ag (g/t)	Gold1 (000 oz)	Ag1 (000 oz)	Tonnes1 (000 t)	Gold (g/t)	Ag (g/t)	Gold1 (000 oz)	Ag1 (000 oz)	Tonnes1 (000 t)	Gold (g/t)	Ag (g/t)	Gold1 (000 oz)	Ag1 (000 oz)
Lynx2	671	11.4	7.2	247	154	6,638	13.2	6.7	2,814	1,426	4,774	10.8	6.9	1,663	1,063
Underdog	–	–	–	–	–	928	9.5	3.4	284	101	4,072	7.7	3.0	1,011	397
Main3	109	9.4	4.4	33	16	2,685	7.6	4.8	655	412	2,799	5.8	3.3	518	296
Triple 8	–	–	–	–	–	–	–	–	–	–	642	7.0	6.6	145	136
Total (in situ)	780	11.1	6.8	279	170	10,250	11.4	5.9	3,754	1,939	12,287	8.4	4.8	3,337	1,892
Stockpiles4	32	16.9	4.3	17	4	–	–	–	–	–	–	–	–	–	–
Total	811	11.4	6.7	297	174	10,250	11.4	5.9	3,754	1,939	12,287	8.4	4.8	3,337	1,892

Notes:  ¹Values are rounded to nearest thousand which may cause apparent discrepancies. ²Lynx area includes: Lynx Main, Lynx HW, Lynx SW, Lynx 4 and Triple Lynx. ³Main area includes: Zone 27, Caribou 1&2, Caribou Extension, Bobcat, Mallard, Windfall Nord, and F-Zones. ⁴Cut-off grade is not applicable to the stockpiles. See Windfall Gold Deposit Mineral Resource Estimate notes further below.

 

This MRE is the result of 4,834 drill holes (1,852,861 metres of core) in the resource area, including 4,152 drill holes (1,665,282 metres of core) completed by Osisko from October 2015 to May 2022 with assays up to June 7, 2022. The Windfall MRE (with an effective date of June 7, 2022) was prepared by Osisko and reviewed and audited by BBA Inc., Montréal, Québec. The full technical report, which is being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”), will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days.

 

This mineral resource estimate reflects the current status of the geological interpretation supported by infill drilling, underground mapping and bulk sample results. Most mineralized envelopes in the Main area are associated with pyritic stringers. Lynx and Underdog mineralized lenses predominantly form an extensive anastomosed network of quartz-rich and pyrite-rich veins. The mineralization system is located near contacts between volcanic and pre-mineral intrusive rocks in the Main and Lynx areas, and more specifically, within pre-mineral intrusive units in Underdog.

 

The MRE is 50% contained within 26 wireframes, and 75% contained within 97 wireframes. The MRE considers a total of 579 mineralized lenses defined by individual wireframes with a minimum true thickness of 2.0 metres. The MRE reports grade blocks inside volumes potentially mineable by underground methods at a cut-off grade of 3.5 g/t Au (Table 3).

 

Table 3: Parameters used to estimate the underground cut-off grade

for the Windfall Gold Deposit Mineral Resource Estimation

Parameters	Unit	Value
Gold Price	USD/oz	1,600
Exchange Rate	USD/CAD	1.28
Mill Recovery	%	93.0
Payability	%	99.95
Sell Cost	USD/oz	5
Royalties (NSR)	%	2
Mining Cost	CAD/t milled	125
G&A Cost	CAD/t milled	39
Processing Cost	CAD/t milled	42
Environment	CAD/t milled	4
Calculated Cut-off Grade	g/t Au	3.5
MRE Cut-off Grade	g/t Au	3.5

 

Windfall Gold Deposit Mineral Resource Estimate Notes

 

1. The independent qualified person for the 2022 MRE, as defined by NI 43-101 guidelines, is Pierre-Luc Richard, P. Geo. (OGQ#1119), of PLR Resources Inc. The effective date of the estimate is June 07, 2022.

 

2. The Windfall mineral resource estimate follows the November 29, 2019, CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.

 

3. These mineral resources are not mineral reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these resources as Indicated or Measured; however, it is reasonably expected that the majority of Inferred mineral resources could be upgraded to Indicated mineral resources with continued exploration. Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction. Isolated and discontinuous blocks above the stated cut-off grade are excluded from the mineral resource estimate. Must-take material, i.e., isolated blocks below cut-off grade located within a potentially mineable volume, was included in the mineral resource estimate.

 

4. As of June 07, 2022, the database comprises a total of 4,834 drill holes for 1,852,861 m of drilling in the area extent of the mineral resource estimate, of which 4,152 drill holes (1,665,282 m) were completed and assayed by Osisko. The drill hole grid spacing is approximately 12.5 m x 12.5 m for definition drilling, 25 m x 25 m for infill drilling and larger for extension drilling.

 

5. All core assays reported by Osisko were obtained by analytical methods described below under “Quality Control and Reporting Protocols”.

 

6. Geological interpretation of the deposit is based on lithologies, mineralization style, alteration, and structural features. Most mineralization envelopes are subvertical, striking NE-SW and plunging approximately 40 degrees towards the North-East. The 3D wireframing was generated in Leapfrog Geo, a modelling software, from hand selections of mineralization intervals. The mineral resource estimate includes a total of 579 tabular, mostly sub-vertical domains defined by individual wireframes with a minimum true thickness of 2.0 m

 

7. Assays were composited within the mineralization domains into 2.0 m length composites. A value of 0.00125 g/t Au and 0.0025 g/t Ag (¼ of the detection limit) was applied to unassayed core intervals.

 

8. High-grade composites were capped. Capping was determined in each zone from statistical studies on groups of lenses sharing similar mineralization characteristics. Capping varies from 6 g/t Au to 200 g/t Au and from 5 g/t Ag to 150 g/t Ag. A three-pass capping strategy defined by capping values decreasing as interpolation search distances increase was used during grade estimation.

 

9. Block models were produced using Datamine™ Studio RM Software. The models are defined by parent cell sizes of 5 m EW, 2 m NS and 5 m height, and sub-blocked to minimum sub-cell sizes of 1.25 m EW, 0.5 m NS and 1.25 m height.

 

10. Ordinary Kriging (OK) based interpolations were produced for gold estimations in each zone of the Windfall deposit, while silver grade estimations were produced using Inverse Distance Squared (ID2) interpolations. Gold estimation parameters are based on composite variography analyses. The gold estimation parameters were used for the silver estimation.

 

11. Density values between 2.74 and 2.93 were applied to the mineralized lenses.

 

12. The Windfall mineral resource estimate is categorized as Measured, Indicated, and Inferred mineral resource as follows:

The Measured mineral resource category is manually defined and encloses areas where:

12. drill spacing is less than 12.5 m;
13. blocks are mostly informed by four drill holes;

• geological evidence is sufficient to confirm geological and grade continuity;

1. lenses have generally been accessed by underground workings.

The Indicated mineral resource category is manually defined and encloses areas where:

1. drill spacing is generally less than 25 m;
2. blocks are informed by mostly three drill holes;

• geological evidence is sufficient to assume geological and grade continuity.

The Inferred mineral resource category is manually defined and encloses areas where:

1. drill spacing is less than 100 m;
2. blocks are informed by a minimum of two drill holes;

• geological evidence is sufficient to imply, but not verify geological and grade continuity.

 

13. Tonnage and gold grade of the stockpiles were estimated using the grade control model. Densities by lithologies, ranging from 2.76 to 2.84, were used in the estimation of the tonnages. Gold grades were estimated using muck samples weighted average results for every round tonnage, based on muck samples with an average sample weight of 3.4 kg taken every 8-yard scoop bucket. Capping varying between 60 g/t Au to 80 g/t Au was applied on the muck gold grade results. Silver grade in the stockpiles was reported from the resource block model as silver was not analyzed in the muck samples.

 

14. The mineral resource is reported at 3.5 g/t Au cut-off. The cut-off grade is based on the following economic parameters: gold price at 1,600 USD/oz, exchange rate at 1.28 USD/CAD, 93.0% mill recovery; payability of 99.95%; selling cost at 5 USD/oz, 2% NSR royalties, mining cost at 125 CAD/t milled, G&A cost at 39 CAD/t milled, processing cost at 42 CAD/t, and environment cost at 4 CAD/t.

 

15. Estimates use metric units (metres (m), tonnes (t), and g/t). Metal contents are presented in troy ounces (metric tonne x grade / 31.103475).

 

16. The independent qualified person is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue, that could materially affect the mineral resource estimate.

 

Qualified Person

The Windfall mineral resource estimate, with an effective date of June 7, 2022, was (i) prepared by Judith St-Laurent, P.Geo (OGQ #1023), Director of Resource Estimation at Osisko, and (ii) reviewed and approved by Pierre-Luc Richard, M.Sc., P.Geo (OGQ#1119,) , each of whom is a “qualified person” within the meaning of NI 43-101. Mr. Richard is an employee of PLR Resources Inc., subcontracted by BBA Inc. and is considered to be “independent” of Osisko for purposes of section 1.5 of NI 43-101. The scientific and technical content in this news release has been reviewed and approved by Mr. Mathieu Savard, P.Geo (OGQ #510), President of Osisko, who is a “qualified person” within the meaning of NI 43-101.

Quality Control and Reporting Protocols

NQ core assays were obtained by either 1 kilogram screen fire assay or standard 50 gram fire assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/ Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in this news release and assuming a cut-off grade of 3.5 g/t Au, comprises 811,000 tonnes at 11.4 g/t Au (297,000 ounces) in the measured mineral resource category, 10,250,000 tonnes at 11.4 g/t Au (3,754,000 ounces) in the indicated mineral resource category and 12,287,000 tonnes at 8.4 g/t Au (3,337,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release, certain of which are described in this news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal areas: Lynx, Main, and Underdog.  Mineralization is generally comprised of sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres, including the Triple 8 (TP8) zone. The resources excluding TP8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (over 2,400 square kilometres).

Cautionary Statements Regarding Estimates of Mineral Resources

This news release uses the terms measured, indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101 (“CIM”). Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future exploration activities, including drilling, at the Windfall gold deposit; the deposit remaining open along strike and at depth; the plunge potential of the Lynx and Underdog zones; expected grade and resource growth; cut-off grade and sensitivity analysis; and the significance of historic exploration activities and results. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Office Telephone (416) 363-8653

Including 293 g/t Au Over 11.0 Metres

(Toronto, June 7, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 43 intercepts in 15 underground drill holes and 12 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to return wide high-grade intercepts which will be included in the upcoming feasibility study. Our headline hole, with an estimated true thickness of eight meters, and other holes with sub-intervals over a kilogram of gold per tonne, demonstrate the robust nature of the high-grade areas in the Lynx 4 and Triple Lynx zones.”

Selected high-grade intercepts include: 293 g/t Au over 11.0 metres in OSK-W-22-2605-W6, 199 g/t Au over 2.9 metres in OSK-W-22-2587-W6; 24.3 g/t Au over 13.4 metres in OSK-W-22-2587-W5; 73.4 g/t Au over 2.3 metres in WST-22-1041B and 54.9 g/t Au over 3.0 metres in WST-22-1046B. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_All zones In EN 20220607, Long Section_All zones Ex EN 20220607, PR_EN_20220607_Surface, PR_EN_20220607_UG.

Infill 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-22-2587-W4	1084.4	1093.7	9.3	5.67		TLX_3155	Triple Lynx
including	1088.5	1088.9	0.4	26.9
OSK-W-22-2587-W5	1040.5	1043.0	2.5	8.52		TLX_3158	Triple Lynx
including	1040.5	1040.9	0.4	41.0
	1052.4	1055.0	2.6	4.30		TLX_3158	Triple Lynx
including	1052.4	1052.8	0.4	18.9
	1110.0	1112.1	2.1	8.85		TLX_3162	Triple Lynx
including	1110.7	1111.1	0.4	32.9
	1120.7	1125.4	4.7	4.54		TLX_3162	Triple Lynx
including	1125.0	1125.4	0.4	23.6
	1129.0	1131.0	2.0	8.25		TLX_3162	Triple Lynx
	1136.3	1149.7	13.4	24.3	14.6	TLX_3172	Triple Lynx
including	1141.3	1142.3	1.0	129	100
and	1142.3	1142.8	0.5	302	100
OSK-W-22-2587-W6	1122.0	1126.0	4.0	15.3	15.0	TLX_3162	Triple Lynx
including	1122.0	1122.4	0.4	104	100
	1134.6	1141.2	6.6	10.3		TLX_3162	Triple Lynx
including	1134.6	1135.2	0.6	33.8
	1149.1	1152.0	2.9	199	31.0	TLX_3172	Triple Lynx
including	1149.1	1149.6	0.5	423	100
and	1150.1	1150.4	0.3	1185	100
OSK-W-22-2601-W5	1011.0	1013.6	2.6	37.5		TLX_3158	Triple Lynx
including	1011.7	1012.1	0.4	95.5
OSK-W-22-2605-W4	1301.2	1303.4	2.2	5.95		LX4_3449	Lynx 4
including	1302.5	1302.8	0.3	31.0
OSK-W-22-2605-W6	1316.4	1327.4	11.0	293	32.3	LX4_3449	Lynx 4
including	1317.4	1320.7	3.3	961	92.3
with	1318.8	1319.1	0.3	3040	100
with	1319.9	1320.2	0.3	5400	100
OSK-W-22-2646-W7	1066.0	1070.1	4.1	5.06		TLX_3158	Triple Lynx
including	1069.8	1070.1	0.3	30.6
WST-21-0929A	191.0	193.2	2.2	20.0		TLX_3161	Triple Lynx
including	192.4	192.9	0.5	78.5
WST-22-1014-W1	257.0	259.0	2.0	40.7		LXM_3367	Lynx
including	257.0	258.0	1.0	81.2
WST-22-1017	455.8	459.5	3.7	6.76		LX4_3401	Lynx 4
including	456.1	456.5	0.4	19.2
WST-22-1022	403.0	405.0	2.0	4.59		TLX_3162	Triple Lynx
WST-22-1023	204.0	206.1	2.1	27.2		TLX_3121	Triple Lynx
including	205.2	206.1	0.9	61.1
	566.0	571.1	5.1	10.2		LX4_3404	Lynx 4
including	567.0	567.3	0.3	54.9
WST-22-1031A	449.0	451.0	2.0	7.47		LX4_3401	Lynx 4
including	450.2	450.7	0.5	19.4
	499.6	503.1	3.5	4.52		LX4_3457	Lynx 4
including	499.6	500.1	0.5	13.0
and	502.7	503.1	0.4	17.5
WST-22-1041B	526.8	529.1	2.3	73.4	61.1	LX4_3430	Lynx 4
including	528.4	528.7	0.3	143	100
WST-22-1043	330.7	332.7	2.0	6.19		TLX_3131	Triple Lynx
including	330.7	331.0	0.3	20.6
WST-22-1045	291.5	293.7	2.2	29.8		TLX_3158	Triple Lynx
including	291.5	291.8	0.3	56.5
WST-22-1046B	315.0	318.0	3.0	54.9	41.8	TLX_3158	Triple Lynx
including	315.0	315.6	0.6	157	100
WST-22-1047	138.0	140.1	2.1	5.46		LXM_3345	Lynx
WST-22-1048	111.3	113.6	2.3	32.2		LXM_3314	Lynx
including	112.7	113.2	0.5	95.2
WST-22-1054	66.0	68.3	2.3	12.8		LXM_3388	Lynx
including	67.4	67.9	0.5	34.3
WST-22-1058C	339.3	344.7	5.4	10.6		TLX_3158	Triple Lynx
including	339.3	339.9	0.6	41.2
WST-22-1060	99.6	102.1	2.5	19.4		TLX_3121	Triple Lynx
including	100.9	101.2	0.3	66.9
WST-22-1062	153.6	156.0	2.4	35.6		TLX_3121	Triple Lynx
including	155.0	156.0	1.0	66.8

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

 

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-22-2587-W3	1101.8	1104.7	2.9	17.8		TLX	Triple Lynx
OSK-W-22-2587-W5	1094.3	1096.7	2.4	8.91		TLX	Triple Lynx
including	1096.3	1096.7	0.4	36.9
OSK-W-22-2587-W6	1104.0	1106.0	2.0	9.11		TLX	Triple Lynx
including	1104.3	1104.7	0.4	38.5
OSK-W-22-2601-W6	1096.2	1099.1	2.9	3.97		TLX_3162	Triple Lynx
including	1096.5	1096.9	0.4	13.9
OSK-W-22-2605-W4	1377.1	1379.1	2.0	6.74		LX4	Lynx 4
including	1378.0	1378.7	0.7	14.2
OSK-W-22-2646-W6	1069.7	1072.4	2.7	30.6		TLX_3158	Triple Lynx
including	1070.1	1070.5	0.4	72.0
and	1071.0	1071.4	0.4	75.8
	1190.1	1194.2	4.1	16.1		TLX_3172	Triple Lynx
including	1190.1	1190.8	0.7	58.1
OSK-W-22-2646-W7	1110.4	1112.5	2.1	8.53		TLX	Triple Lynx
including	1111.7	1112.0	0.3	57.1
OSK-W-22-2646-W8	1165.0	1167.3	2.3	7.79		TLX_3162	Triple Lynx
including	1166.0	1166.3	0.3	38.8
	1220.2	1222.3	2.1	9.82		TLX_3172	Triple Lynx
including	1220.2	1221.0	0.8	23.2
WST-22-1017	467.0	469.0	2.0	7.03		LX4	Lynx 4
including	468.0	469.0	1.0	12.4

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below., LX4 = Lynx 4 and TLX = Triple Lynx.

 

Drill hole location

Hole No.	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-22-2587-W3	127	-59	1221	453350	5435673	413	3850
OSK-W-22-2587-W4	127	-59	1218	453350	5435673	413	3850
OSK-W-22-2587-W5	127	-59	1227	453350	5435673	413	3850
OSK-W-22-2587-W6	127	-59	1203	453350	5435673	413	3850
OSK-W-22-2601-W5	125	-61	1215	453425	5435656	412	3900
OSK-W-22-2601-W6	125	-61	1212	453425	5435656	412	3900
OSK-W-22-2605-W4	112	-55	1425	453551	5435669	408	4025
OSK-W-22-2605-W6	112	-55	1404	453551	5435669	408	4025
OSK-W-22-2646-W6	109	-58	1263	453326	5435648	414	3800
OSK-W-22-2646-W7	109	-58	1227	453326	5435648	414	3800
OSK-W-22-2646-W8	109	-58	1254	453326	5435648	414	3800
WST-21-0929A	117	-45	379	453506	5435326	-90	3800
WST-22-1014-W1	123	-37	594	453507	5435332	-47	3800
WST-22-1017	138	-26	561	453344	5435312	-66	3650
WST-22-1022	132	-62	479	453510	5435330	-127	3800
WST-22-1023	120	-48	646	453506	5435326	-90	3800
WST-22-1031A	136	-28	577	453344	5435312	-66	3650
WST-22-1041B	127	-43	585	453507	5435331	-48	3800
WST-22-1043	133	-26	561	453344	5435312	-66	3650
WST-22-1045	104	-54	339	453702	5435376	-198	4000
WST-22-1046B	125	-58	436	453510	5435331	-127	3800
WST-22-1047	130	-12	226	453647	5435347	-187	3950
WST-22-1048	139	-1	169	453647	5435347	-187	3950
WST-22-1054	120	-29	196	453647	5435347	-188	3950
WST-22-1058C	121	-60	520	453511	5435331	-127	3825
WST-22-1060	140	-55	156	453601	5435325	-181	3900
WST-22-1062	144	-59	171	453601	5435325	-181	3900

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated January 10, 2022 is supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021), and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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

Including 272 g/t Au Over 2.3 Metres and 26.3 g/t Au Over 15.8 Metres

(Toronto, May 25, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 71 intercepts in 27 underground drill holes and 13 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Infill drilling in support of the upcoming feasibility study continues to intersect high-grade across the deposit, especially in the Lynx area. This week’s expansion intercepts, including the higher-up Bobcat holes, are 25 metre step-outs which allow for these intercepts to be included in the resource estimate.”

Selected high-grade intercepts include: 272 g/t Au over 2.3 metres in WST-22-1018-W1, 26.3 g/t Au over 15.8 metres in OSK-W-22-2587-W3; 95.8 g/t Au over 3.1 metres in OSK-W-22-2601-W6; 131 g/t Au over 2.2 metres in OSK-W-22-2646-W5; 21.4 g/t Au over 13.2 metres in OSK-W-22-2605-W3; 39.9 g/t Au over 6.8 metres in OSK-W-22-2605-W2; 80.0 g/t Au over 3.2 metres in OSK-W-22-2646-W4, 125 g/t Au over 2.0 metres in WST-22-1019, 112 g/t Au over 2.2 metres in WST-22-1021 and 24.6 g/t Au over 9.6 metres in WST-22-1020. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_All zones In EN 20220525, Long Section_All zones Ex EN 20220525, PR_EN_20220525_Surface, PR_EN_20220525_UG.

Infill 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-22-2587-W3	1134.0	1149.8	15.8	26.3	11.3	TLX_3172	Triple Lynx
including	1148.3	1149.1	0.8	397	100
OSK-W-22-2587-W4	1125.0	1127.0	2.0	20.6		TLX_3162	Triple Lynx
including	1126.0	1126.7	0.7	43.1
	1139.0	1143.0	4.0	10.1		TLX_3170	Triple Lynx
including	1139.0	1139.7	0.7	43.1
	1151.1	1153.5	2.4	30.7	24.5	TLX_3172	Triple Lynx
including	1152.0	1152.4	0.4	138	100
OSK-W-22-2601-W4	1010.0	1012.1	2.1	121	35.8	TLX_3158	Triple Lynx
including	1010.0	1010.7	0.7	356	100
OSK-W-22-2601-W6	1022.3	1025.4	3.1	95.8	70.8	TLX_3158	Triple Lynx
including	1024.0	1024.6	0.6	186	100
OSK-W-22-2605-W2	1315.5	1322.3	6.8	39.9	23.9	LX4_3449	Lynx 4
including	1315.5	1316.0	0.5	186	100
and	1321.6	1322.0	0.4	266	100
OSK-W-22-2605-W3	1332.6	1345.8	13.2	21.4	17.1	LX4_3449	Lynx 4
including	1336.0	1336.5	0.5	212	100
and	1338.5	1339.4	0.9	58.1
OSK-W-22-2605-W4	1318.7	1322.1	3.4	11.2		LX4_3449	Lynx 4
including	1319.7	1320.0	0.3	32.9
	1324.7	1328.0	3.3	3.79		LX4_3449	Lynx 4
	1347.0	1364.5	17.5	4.66		LX4_3445	Lynx 4
OSK-W-22-2605-W5	1299.6	1303.1	3.5	35.0	30.3	LX4_3449	Lynx 4
including	1301.1	1301.8	0.7	124	100
	1313.7	1316.1	2.4	4.99		LX4_3449	Lynx 4
including	1314.5	1315.2	0.7	10.8
OSK-W-22-2605-W6	1361.6	1364.3	2.7	4.27		LX4_3445	Lynx 4
OSK-W-22-2646-W4	1149.0	1151.3	2.3	10.0		TLX_3162	Triple Lynx
including	1149.4	1149.9	0.5	44.4
	1186.4	1189.6	3.2	80.0	64.5	TLX_3172	Triple Lynx
including	1186.4	1187.0	0.6	175	100
OSK-W-22-2646-W5	1046.3	1048.3	2.0	41.0	21.3	TLX_3158	Triple Lynx
including	1046.6	1046.9	0.3	231	100
	1050.1	1052.2	2.1	6.71		TLX_3158	Triple Lynx
WST-21-0713A	79.8	82.0	2.2	6.24		LXM_3371	Lynx
WST-21-0845	86.0	88.0	2.0	5.19		LXM_3336	Lynx
including	86.7	87.0	0.3	34.4
	98.6	100.7	2.1	18.8		LXM_3371	Lynx
including	100.0	100.4	0.4	91.0
WST-21-0847	96.2	99.8	3.6	20.2		LXM_3371	Lynx
including	96.2	97.0	0.8	59.4
WST-21-0848	73.5	75.9	2.4	7.49		LXM_3336	Lynx
including	75.5	75.9	0.4	44.5
	97.0	99.4	2.4	8.86		LXM_3371	Lynx
including	98.1	98.5	0.4	37.8
	113.0	117.7	4.7	4.17		LXM_3359	Lynx
including	113.0	113.4	0.4	26.9
WST-21-0849	74.0	76.6	2.6	11.3		LXM_3336	Lynx
including	75.7	76.3	0.6	47.7
	96.0	98.0	2.0	29.1		LXM_3371	Lynx
including	97.2	97.6	0.4	91.9
	110.1	112.3	2.2	6.17		LXM_3359	Lynx
including	110.4	110.9	0.5	26.5
WST-21-0887	121.0	123.5	2.5	7.59		LXM_3359	Lynx
including	123.0	123.5	0.5	33.4
WST-21-0891	97.8	100.0	2.2	18.4		LXM_3371	Lynx
including	97.8	98.3	0.5	69.1
WST-21-0905	53.1	55.2	2.1	5.62		LXM_3339	Lynx
including	53.6	54.0	0.4	17.3
WST-21-0921	47.7	49.7	2.0	21.4		LXM_3303	Lynx
including	48.6	49.7	1.1	38.5
WST-21-0923	65.5	67.8	2.3	5.91		LXM_3336	Lynx
including	65.5	66.1	0.6	17.8
	98.3	100.5	2.2	7.23		LXM_3371	Lynx
including	98.3	99.1	0.8	19.5
WST-21-0941	58.8	61.1	2.3	55.1	27.3	LXM_3336	Lynx
including	59.3	59.8	0.5	228	100
WST-22-0998	200.8	205.2	4.4	8.34		MAL_5215	Mallard
including	204.0	205.2	1.2	23.8
WST-22-1010	357.5	359.7	2.2	10.4		LX4_3405	Lynx 4
including	358.0	358.4	0.4	37.0
WST-22-1011	200.5	202.5	2.0	84.1	67.3	TLX_3161	Triple Lynx
including	201.3	202.5	1.2	128	100
WST-22-1014-W1	473.5	477.5	4.0	20.9	12.6	LX4_3404	Lynx 4
including	473.5	473.9	0.4	183	100
	482.3	484.4	2.1	10.1		LX4_3430	Lynx 4
including	483.8	484.4	0.6	33.3
WST-22-1015	183.3	185.3	2.0	4.03		MAL_5215	Mallard
including	184.4	185.0	0.6	12.6
WST-22-1016	264.6	268.3	3.7	40.8		TLX_3158	Triple Lynx
including	265.3	265.8	0.5	88.6
WST-22-1018	198.8	200.9	2.1	62.4	30.0	TLX_3161	Triple Lynx
including	200.1	200.5	0.4	270	100
	540.7	542.8	2.1	5.74		LX4_3404	Lynx 4
including	540.7	541.3	0.6	16.0
WST-22-1018-W1	540.0	542.0	2.0	6.31		LX4_3404	Lynx 4
	545.4	547.7	2.3	272	58.9	LX4_3430	Lynx 4
including	545.4	546.0	0.6	504	100
and	547.1	547.7	0.6	512	100
WST-22-1019	227.8	230.4	2.6	9.93		TLX_3131	Triple Lynx
including	228.9	229.2	0.3	64.2
	395.0	397.0	2.0	38.2	15.5	LX4_3410	Lynx 4
including	396.1	396.4	0.3	251	100
	425.3	428.0	2.7	16.6	11.8	LX4_3409	Lynx 4
including	425.3	425.6	0.3	143	100
	430.0	432.0	2.0	125	15.3	LX4_3409	Lynx 4
including	431.7	432.0	0.3	833	100
WST-22-1020	139.0	141.4	2.4	9.86		LXM_3334	Lynx
including	139.3	139.7	0.4	23.7
	312.0	321.6	9.6	24.6	13.0	TLX_3131	Triple Lynx
including	318.4	319.4	1.0	211	100
	539.8	542.0	2.2	5.75		LX4_3450	Lynx 4
including	540.3	540.6	0.3	39.3
WST-22-1021	281.0	285.0	4.0	46.6	40.4	TLX_3158	Triple Lynx
including	282.3	282.9	0.6	142	100
	323.7	327.8	4.1	10.2		TLX_3155	Triple Lynx
including	327.4	327.8	0.4	98.9
WST-22-1025	160.3	163.0	2.7	14.0		LXM_3388	Lynx
WST-22-1036	497.9	500.3	2.4	4.87		LX4_3404	Lynx 4
including	497.9	498.3	0.4	22.9
	513.0	515.0	2.0	11.8		LX4_3404	Lynx 4
including	514.0	514.4	0.4	41.5
WST-22-1051	257.0	260.0	3.0	20.6		TLX_3158	Triple Lynx
WST-22-1055	86.8	89.0	2.2	7.35		TLX_3161	Triple Lynx
including	86.8	87.1	0.3	46.0

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below., LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx and MAL = Mallard.

 

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-22-2587-W4	1109.7	1118.6	8.9	3.65		TLX	Triple Lynx
including	1118.2	1118.6	0.4	25.0
OSK-W-22-2646-W4	1115.0	1120.6	5.6	4.00		TLX	Triple Lynx
including	1120.0	1120.6	0.6	18.1
	1125.0	1127.0	2.0	3.90		TLX	Triple Lynx
OSK-W-22-2646-W5	1169.3	1171.5	2.2	131	31.6	TLX_3172	Triple Lynx
including	1169.7	1170.3	0.6	465	100
WST-21-0771C	104.2	107.0	2.8	11.4		BCT	Bobcat
including	105.0	106.0	1.0	23.7
WST-21-0872	74.7	76.8	2.1	8.46		LXM	Lynx
including	75.7	76.3	0.6	20.0
WST-21-0899B	35.4	37.5	2.1	11.9		BCT	Bobcat
including	35.8	36.1	0.3	80.3
WST-22-1014-W1	558.0	560.2	2.2	4.02		LX4	Lynx 4
WST-22-1019	351.3	354.0	2.7	5.09		LX4_3401	Lynx 4
WST-22-1020	295.7	300.0	4.3	7.57		TLX	Triple Lynx
including	295.7	296.2	0.5	16.4
WST-22-1021	437.4	439.6	2.2	112	83.4	TLX_3172	Triple Lynx
including	438.6	439.6	1.0	164	100

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below., BCT = Bobcat, LXM = Lynx Main, LX4 = Lynx 4 and TLX = Triple Lynx.

 

Drill hole location

Hole No.	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-22-2587-W3	127	-59	1221	453350	5435673	413	3850
OSK-W-22-2587-W4	127	-59	1218	453350	5435673	413	3850
OSK-W-22-2601-W4	125	-61	1098	453425	5435656	412	3900
OSK-W-22-2601-W6	125	-61	1212	453425	5435656	412	3900
OSK-W-22-2605-W2	112	-55	1431	453551	5435669	408	4025
OSK-W-22-2605-W3	112	-55	1455	453551	5435669	408	4025
OSK-W-22-2605-W4	112	-55	1425	453551	5435669	408	4025
OSK-W-22-2605-W5	112	-55	1401	453551	5435669	408	4025
OSK-W-22-2605-W6	112	-55	1404	453551	5435669	408	4025
OSK-W-22-2646-W4	109	-58	1254	453326	5435648	414	3800
OSK-W-22-2646-W5	109	-58	1245	453326	5435648	414	3800
WST-21-0713A	158	4	94	453359	5435194	84	3625
WST-21-0771C	127	-52	357	452954	5435003	252	3175
WST-21-0845	130	-29	111	453315	5435165	124	3550
WST-21-0847	134	-30	114	453315	5435165	124	3550
WST-21-0848	135	-27	129	453315	5435165	124	3550
WST-21-0849	134	-24	118	453315	5435164	124	3550
WST-21-0872	135	-69	348	453508	5435327	-7	3800
WST-21-0887	136	-33	132	453315	5435165	123	3550
WST-21-0891	138	-28	126	453314	5435164	124	3550
WST-21-0899B	134	-60	287	452955	5435004	253	3175
WST-21-0905	141	-52	64	453221	5435121	135	3450
WST-21-0921	148	-37	114	453314	5435164	124	3550
WST-21-0923	147	-31	111	453314	5435164	124	3550
WST-21-0941	153	-23	129	453315	5435164	124	3550
WST-22-0998	358	-52	230	452207	5434903	247	2475
WST-22-1010	136	-28	481	453445	5435276	-99	3725
WST-22-1011	134	-32	630	453344	5435312	-66	3650
WST-22-1014-W1	123	-37	594	453507	5435332	-47	3800
WST-22-1015	345	-60	210	452206	5434903	247	2475
WST-22-1016	143	-65	448	453647	5435347	-189	3950
WST-22-1018	115	-43	636	453506	5435327	-90	3800
WST-22-1018-W1	115	-43	585	453506	5435327	-90	3800
WST-22-1019	140	-27	463	453444	5435276	-99	3725
WST-22-1020	142	-52	582	453322	5435236	54	3600
WST-22-1021	149	-67	468	453647	5435347	-189	3950
WST-22-1025	122	-20	189	453507	5435332	-47	3800
WST-22-1036	130	-48	627	453505	5435326	-90	3800
WST-22-1051	106	-52	327	453702	5435377	-198	4000
WST-22-1055	144	-44	120	453600	5435324	-181	3950

 

Bobcat

Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

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.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated January 10, 2022 is supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021), and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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

243 g/t Au Over 2.8 Metres

(Toronto, May 4, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 43 intercepts in 17 underground drill holes and 5 wedges from surface. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “May the 4^th be with you.  Today’s results continue to strengthen our confidence in the high-grade nature of Windfall. While the focus for the feasibility study remains on the Lynx areas, other areas such as Mallard, also continue to infill nicely and contribute high-grade ounces to the resource.”

Selected high-grade intercepts include: 243 g/t Au over 2.8 metres in WST-22-1016, 20.6 g/t Au over 9.5 metres in WST-22-1006-W1; 16.3 g/t Au over 7.9 metres in OSK-W-22-2587-W3; 48.4 g/t Au over 2.1 metres in WST-22-1003A; 37.9 g/t Au over 2.1 metres in WST-22-1010; 36.8 g/t Au over 2.1 metres in WST-21-0940; 38.2 g/t Au over 2.0 metres in OSK-W-21-2601-W2, 37.1 g/t Au over 2.0 meters in WST-21-0991, and 36.1 g/t Au over 2.0 metres in WST-22-1006-W2. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_In EN 20220504, Long Section_Ex EN 20220504, PR_EN_20220504_Surface, PR_EN_20220504_UG.

Infill 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-21-2605-W1	1352.7	1355.1	2.4	7.53		LX4_3445	Lynx 4
including	1352.7	1353.0	0.3	19.4
OSK-W-22-2587-W3	1047.6	1055.5	7.9	16.3		TLX_3158	Lynx HW
including	1052.0	1053.0	1.0	39.9
WST-21-0708	522.3	524.4	2.1	22.9		LX4_3401	Lynx 4
including	522.3	523.0	0.7	68.4
WST-21-0892	70.0	72.1	2.1	8.41		LXM_3336	Lynx
	111.1	113.6	2.5	15.7		LXM_3359	Lynx
including	112.8	113.3	0.5	48.5
WST-21-0926	61.9	64.0	2.1	18.9		LXM_3336	Lynx
including	61.9	62.4	0.5	74.2
WST-21-0938	96.0	98.0	2.0	8.39		LXM_3371	Lynx
including	96.3	96.7	0.4	41.4
WST-21-0939A	60.3	62.5	2.2	3.81		LXM_3336	Lynx
including	60.3	60.7	0.4	17.4
WST-21-0939A	96.5	99.0	2.5	11.7		LXM_3371	Lynx
including	97.4	98.1	0.7	41.5
WST-21-0942	95.0	97.0	2.0	28.7	15.6	LXM_3371	Lynx
including	95.5	95.8	0.3	188	100
WST-21-0991	173.0	175.0	2.0	37.1	30.0	LHW_3206	Lynx
including	174.4	175.0	0.6	124	100
WST-22-1006-W1	505.5	515.0	9.5	20.6	14.8	LX4_3404	Lynx 4
including	505.5	505.8	0.3	89.6
and	507.1	507.5	0.4	240	100
and	509.1	509.4	0.3	92.8
	560.9	563.0	2.1	8.21		LX4_3430	Lynx 4
including	560.9	561.3	0.4	41.2
WST-22-1006-W2	519.4	521.4	2.0	4.30		LX4_3404	Lynx 4
including	519.4	519.8	0.4	17.6
	523.3	527.0	3.7	3.93		LX4_3404	Lynx 4
including	523.3	524.1	0.8	8.29
	582.0	584.0	2.0	36.1	30.4	LX4_3430	Lynx 4
including	582.0	582.6	0.6	119	100
WST-22-1003A	78.0	80.1	2.1	48.4	33.5	MAL_5219	Mallard
including	78.5	79.2	0.7	145	100
WST-22-1010	400.0	402.2	2.2	3.62		LX4_3410	Lynx 4
	406.0	408.0	2.0	4.35		LX4_3440	Lynx 4
WST-22-1012	529.0	531.3	2.3	12.5		LX4_3450	Lynx 4
including	529.6	530.4	0.8	35.5
WST-22-1013	147.3	152.5	5.2	9.62		TLX_3161	Triple Lynx
including	151.2	151.7	0.5	24.6
	206.5	212.8	6.3	3.54		TLX_3164	Triple Lynx
including	206.5	207.1	0.6	12.5
and	212.1	212.8	0.7	9.90
WST-22-1014	463.1	465.1	2.0	4.56		LX4_3430	Lynx 4
including	463.6	463.9	0.3	21.4
	489.7	493.3	3.6	4.30		LX4_3461	Lynx 4
	516.6	519.0	2.4	9.53		LX4_3443	Lynx 4
including	516.6	517.0	0.4	25.6

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. MAL = Mallard, LXM = Lynx Main, LX4 = Lynx 4, LHW = Lynx Hanging wall, and TLX = Triple Lynx.

 

 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-21-2601-W2	1296.2	1298.2	2.0	38.2		LX4	Lynx 4
including	1296.6	1297.2	0.6	100
OSK-W-22-2605-W2	1329.8	1335.0	5.2	6.56		LX4_3462	Lynx 4
including	1331.7	1332.3	0.6	28.9
	1374.0	1376.0	2.0	10.7		LX4_3445	Lynx 4
	1407.3	1409.9	2.6	17.4		LX4	Lynx 4
including	1408.5	1409.4	0.9	46.9
OSK-W-22-2605-W3	1433.9	1436.3	2.4	4.74		LX4	Lynx 4
WST-21-0939A	113.8	115.8	2.0	13.1		LXM_3359	Lynx
including	113.8	114.5	0.7	30.1
WST-21-0940	111.0	113.1	2.1	36.8	30.9	LXM_3359	Lynx
including	112.5	113.1	0.6	121	100
WST-21-0941	115.2	117.3	2.1	14.4		LXM_3359	Lynx
including	115.2	115.6	0.4	75.1
WST-21-0946	175.0	177.2	2.2	26.0	18.3	TLX_3161	Triple Lynx
including	176.8	177.2	0.4	143	100
WST-22-1003A	95.4	97.5	2.1	9.97		MAL	Mallard
including	97.1	97.5	0.4	34.9
	166.1	169.6	3.5	8.29		MAL	Mallard
including	168.7	169.6	0.9	25.4
WST-22-1006-W1	434.8	437.4	2.6	13.6		LX4	Lynx 4
including	434.8	436.0	1.2	29.0
WST-22-1010	387.9	390.0	2.1	37.9		LX4	Lynx 4
including	387.9	388.8	0.9	87.7
WST-22-1011	343.5	345.5	2.0	3.65		TLX	Triple Lynx
including	343.8	344.1	0.3	13.8
WST-22-1014	254.7	257.7	3.0	3.89		LHW_3224	Lynx HW
	318.8	322.0	3.2	4.38		LXM	Lynx
WST-22-1016	174.0	177.3	3.3	4.92		TLX	Triple Lynx
including	176.6	177.3	0.7	15.3
	195.2	198.0	2.8	243	41.4	TLX	Triple Lynx
including	195.7	196.0	0.3	1495	100

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below., MAL = Mallard, LXM = Lynx Main, LX4 = Lynx 4, LHW = Lynx Hanging wall, and TLX = Triple Lynx.

 Drill hole location

Hole No.	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-21-2601-W2	125	-61	1500	453425	5435656	412	3900
OSK-W-21-2605-W1	112	-55	1380	453551	5435669	408	4025
OSK-W-22-2587-W3	127	-59	1221	453350	5435673	413	3850
OSK-W-22-2605-W2	112	-55	1431	453551	5435669	408	4025
OSK-W-22-2605-W3	112	-55	1455	453551	5435669	408	4025
WST-21-0708	134	-40	670	453374	5435296	-26	3675
WST-21-0892	138	-25	116	453314	5435164	124	3550
WST-21-0926	149	-27	111	453314	5435164	124	3550
WST-21-0938	146	-22	106	453314	5435164	124	3550
WST-21-0939A	150	-24	129	453315	5435164	124	3550
WST-21-0940	148	-21	127	453315	5435165	125	3550
WST-21-0941	153	-23	129	453315	5435164	124	3550
WST-21-0942	148	-20	126	453315	5435164	124	3550
WST-21-0946	168	-51	403	453507	5435327	-7	3800
WST-21-0991	134	-29	391	453461	5435326	32	3775
WST-22-1003A	355	-57	213	452206	5434903	247	2475
WST-22-1006-W1	121	-45	628	453506	5435326	-90	3800
WST-22-1006-W2	121	-45	628	453506	5435326	-90	3800
WST-22-1010	136	-28	481	453445	5435276	-99	3725
WST-22-1011	134	-32	630	453344	5435312	-66	3650
WST-22-1012	141	-50	579	453322	5435236	54	3600
WST-22-1013	142	-44	420	453360	5435297	-149	3675
WST-22-1014	123	-37	540	453507	5435332	-47	3800
WST-22-1016	143	-65	448	453647	5435347	-189	3950

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

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.

 

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated January 10, 2022 is supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021), and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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

Including 120 g/t Au Over 6.2 Metres

(Toronto, April 13, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 31 intercepts in 12 underground drill holes and 5 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “We remain very pleased with the results of our infill and expansion drill program at Lynx. High grade zones continue to be intersected where expected and the expansion drilling continues to define additional zones nearby.”

Selected high-grade intercepts include: 120 g/t Au over 6.2 metres in OSK-W-21-2287-W14; 67.1 g/t Au over 4.4 metres in OSK-W-22-2646-W3; 111 g/t Au over 2.5 metres in WST-22-1009A; 82.6 g/t Au over 2.2 metres in WST-21-0997; 76.0 g/t Au over 2.3 metres in WST-21-0974; 63.9 g/t Au over 2.1 metres in WST-22-0999 and 60.8 g/t Au over 2.2 metres in OSK-W-22-2540-W13. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_Infill EN 20220413, Long Section_Expan EN 20220413, PR_EN_20220413_Surface, PR_EN_20220413_UG.

Infill 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-21-2287-W14	1253.0	1259.2	6.2	120	51.4	LX4_3449	Lynx 4
including	1256.7	1257.2	0.5	768	100
OSK-W-22-2646-W3	1057.6	1062.5	4.9	15.6		TLX_3158	Triple Lynx
including	1058.3	1058.7	0.4	99.1
WST-21-0839	512.0	514.0	2.0	5.16		LX4_3470	Lynx 4
including	512.3	512.7	0.4	21.9
WST-21-0974	44.0	46.3	2.3	76.0	31.8	TLX_3161	Triple Lynx
including	45.2	45.9	0.7	245	100
WST-21-0979	189.4	194.8	5.4	15.6	12.9	TLX_3154	Triple Lynx
including	192.0	192.5	0.5	130	100
	197.1	199.2	2.1	19.3		TLX_3184	Triple Lynx
including	197.4	197.7	0.3	44.4
WST-21-0980	602.8	605.0	2.2	50.3	31.9	LX4_3448	Lynx 4
including	602.8	603.5	0.7	158	100
WST-21-0997	191.1	193.3	2.2	82.6	44.7	TLX_3121	Triple Lynx
including	191.7	192.4	0.7	219	100
WST-22-0999	227.0	229.0	2.0	9.37		TLX_3131	Triple Lynx
including	227.7	228.5	0.8	23.4
	351.0	353.1	2.1	4.13		LX4_3405	Lynx 4
including	352.7	353.1	0.4	20.8
	376.9	379.0	2.1	63.9	38.8	LX4_3410	Lynx 4
including	377.2	378.0	0.8	166	100
	390.5	394.0	3.5	27.4		LX4_3440	Lynx 4
including	393.0	394.0	1.0	76.3
WST-22-1000	202.3	212.0	9.7	3.83		TLX_3145	Triple Lynx
including	204.0	205.2	1.2	11.7
WST-22-1004	320.5	325.3	4.8	5.78		TLX_3131	Triple Lynx
including	324.5	324.8	0.3	18.1
	504.0	506.0	2.0	44.7	25.4	LX4_3402	Lynx 4
including	505.5	506.0	0.5	177	100
WST-22-1005	149.2	157.6	8.4	4.96		TLX_3161	Triple Lynx
WST-22-1006	566.7	569.1	2.4	15.1		LX4_3430	Lynx 4
including	566.7	567.0	0.3	89.3
WST-22-1008	147.8	150.0	2.2	8.76		TLX_3161	Triple Lynx
	210.0	212.1	2.1	11.0		TLX_3169	Triple Lynx
	217.7	220.0	2.3	3.98		TLX_3175	Triple Lynx
	226.0	228.0	2.0	5.42		TLX_3175	Triple Lynx
WST-22-1009A	172.0	174.0	2.0	8.64		LXM_3388	Lynx
including	172.8	173.3	0.5	22.9
	485.5	488.0	2.5	111	60.3	LX4_3404	Lynx 4
including	485.5	486.1	0.6	240	100
	499.0	501.1	2.1	11.7		LX4_3430	Lynx 4
including	499.9	500.6	0.7	32.8
	511.0	513.0	2.0	3.52		LX4_3454	Lynx 4
including	511.9	512.3	0.4	14.9

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

 

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-21-2381-W3	1204.2	1210.7	6.5	4.41		TLX_3172	Triple Lynx
including	1209.7	1210.7	1.0	15.6
OSK-W-21-2646-W1	1046.0	1055.4	9.4	11.6		TLX_3158	Triple Lynx
including	1048.4	1048.7	0.3	65.8
and	1054.5	1055.4	0.9	54.7
OSK-W-22-2540-W13	987.8	990.0	2.2	60.8	24.2	TLX_3158	Triple Lynx
including	988.1	988.6	0.5	261	100
OSK-W-22-2646-W3	1181.7	1186.1	4.4	67.1	31.7	TLX_3172	Triple Lynx
including	1184.9	1186.1	1.2	230	100
WST-22-1008	249.0	251.5	2.5	5.05		TLX	Triple Lynx
WST-22-1009A	576.1	578.3	2.2	3.54		LX4	Lynx 4
including	577.5	578.3	0.8	9.57

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below., LX4 = Lynx 4 and TLX = Triple Lynx.

 

Drill hole location

Hole No.	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-21-2287-W14	116	-53	1338	453607	5435714	404	4075
OSK-W-21-2381-W3	134	-53	1392	453620	5435790	402	4125
OSK-W-21-2646-W1	109	-58	1236	453326	5435648	414	3800
OSK-W-22-2540-W13	117	-60	1220	453466	5435639	410	3925
OSK-W-22-2646-W3	109	-58	1251	453326	5435648	414	3800
WST-21-0839	140	-38	577	453321	5435235	55	3600
WST-21-0974	142	-11	67	453441	5435223	-157	3700
WST-21-0979	178	-55	255	453358	5435296	-149	3675
WST-21-0980	131	-38	681	453374	5435297	-26	3675
WST-21-0997	119	-45	640	453506	5435326	-90	3800
WST-22-0999	134	-26	454	453445	5435276	-99	3725
WST-22-1000	139	-45	447	453360	5435297	-148	3675
WST-22-1004	137	-40	600	453322	5435236	54	3600
WST-22-1005	145	-44	334	453360	5435297	-148	3675
WST-22-1006	121	-45	616	453506	5435326	-90	3800
WST-22-1008	148	-42	420	453360	5435297	-148	3675
WST-22-1009A	120	-40	603	453507	5435332	-47	3800

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres in thickness. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated January 10, 2022 is supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021), and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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

58.9 g/t Au Over 14.7 Metres

(Toronto, March 29, 2022) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 27 intercepts in 8 drill holes (1 from surface, 8 from underground) and 8 wedges. Infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). Expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “The infill program at Windfall continues to intercept high-grade mineralization. Today’s wide headline hole comes from Triple Lynx wireframe 3161 which has another wide zone of 41.4 g/t Au over 9.0 metres. Infill at Underdog is also returning intercepts of over one ounce per tonne over more than two meters.”

Selected high-grade intercepts include: 58.9 g/t Au over 14.7 metres in WST-21-0996A; 41.4 g/t Au over 9.0 metres in WST-21-0928; 88.0 g/t Au over 3.0 metres in WST-21-0997; 49.8 g/t Au over 3.9 metres in WST-21-0914; 81.5 g/t Au over 2.0 metres in WST-21-0936A; and 60.0 g/t Au over 2.4 metres in OSK-W-21-2463-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com. Maps: Long Section_In EN 20220329, PR_EN_20220329_Surface, PR_EN_20220329_UG.

Infill 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-21-1871-W3	816.3	820.7	4.4	22.6		UDD_4101	Underdog
including	816.3	817.0	0.7	86.0
and	820.2	820.7	0.5	60.6
OSK-W-21-2463-W3	971.5	973.9	2.4	60.0	47.1	UDD_4122	Underdog
including	972.8	973.9	1.1	128	100
OSK-W-21-2544-W1	791.7	794.0	2.3	4.13		TLX_3184	Triple Lynx
including	791.7	792.0	0.3	11.6
	797.7	800.0	2.3	12.2		TLX_3159	Lynx HW
including	798.3	798.9	0.6	45.3
OSK-W-21-2599	702.8	705.8	3.0	4.83		CA2_2208	Caribou
including	702.8	703.5	0.7	16.6
WST-21-0914	250.1	254.0	3.9	49.8	46.3	LSW_3500	Lynx SW
including	250.1	250.4	0.3	146	100
WST-21-0928	273.1	282.1	9.0	41.4	33.0	TLX_3161	Triple Lynx
including	275.8	277.1	1.3	155	96.5
WST-21-0936A	527.0	529.0	2.0	81.5	25.2	LX4_3450	Lynx 4
including	527.8	528.3	0.5	325	100
WST-21-0996A	146.3	161.0	14.7	58.9	32.2	TLX_3161	Triple Lynx
including	150.6	151.3	0.7	650	100
WST-21-0997	589.0	592.0	3.0	88.0	43.0	LX4_3430	Lynx 4
including	589.7	590.7	1.0	235	100
WST-22-1000	166.0	168.1	2.1	5.82		TLX_3163	Triple Lynx
including	167.2	167.7	0.5	22.1
	232.8	235.0	2.2	5.09		TLX_3169	Triple Lynx
	256.4	258.6	2.2	4.43		TLX_3175	Triple Lynx
including	256.4	256.9	0.5	18.1
	372.3	374.5	2.2	4.03		TLX_3191	Triple Lynx
including	373.7	374.5	0.8	9.19
WST-22-1001	503.4	506.3	2.9	6.60		LX4_3404	Lynx 4
including	505.5	505.8	0.3	19.5
WST-22-1006	186.8	189.0	2.2	35.6	14.8	TLX_3121	Triple Lynx
including	186.8	187.1	0.3	252	100
	512.0	518.3	6.3	9.22		LX4_3404	Lynx 4
including	512.3	513.5	1.2	25.7
and	517.8	518.3	0.5	39.4

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. CA2= Caribou 2, LX4 = Lynx 4, LSW = Lynx Southwest, TLX = Triple Lynx and UDD=Underdog.

 

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-21-2540-W3	1280.0	1282.0	2.0	17.7		LX4	Lynx 4
including	1281.4	1282.0	0.6	58.6
OSK-W-21-2540-W9	1192.0	1194.0	2.0	3.68		LX4	Lynx 4
	1202.0	1208.0	6.0	7.68		LX4	Lynx 4
including	1207.0	1208.0	1.0	32.9
	1230.0	1232.0	2.0	15.3		LX4	Lynx 4
	1282.7	1287.8	5.1	4.94		LX4	Lynx 4
including	1287.0	1287.8	0.8	19.3
OSK-W-21-2646-W1	1067.0	1070.0	3.0	3.95		TLX	Triple Lynx
OSK-W-22-2540-W12	867.4	869.5	2.1	6.29		LNX	Lynx
including	868.4	868.7	0.3	39.5
OSK-W-22-2540-W13	879.5	881.8	2.3	7.40		LNX	Lynx
including	879.5	880.4	0.9	18.8
	940.0	942.0	2.0	6.01		TLX	Triple Lynx
including	940.0	940.5	0.5	23.3
WST-22-1006	609.0	611.1	2.1	8.40		LX4	Lynx 4
including	609.9	610.6	0.7	24.8

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below., LNX = Lynx, LX4 = Lynx 4 and TLX = Triple Lynx.

 

Drill hole location

Hole Number	Azimuth (°)	Dip (°)	Length (m)	UTM E	UTM N	Elevation	Section
OSK-W-21-1871-W3	331	-56	906	452496	5434397	402	2475
OSK-W-21-2463-W3	339	-65	1299	452617	5434447	402	2600
OSK-W-21-2540-W3	117	-60	1470	453465	5435640	410	3925
OSK-W-21-2540-W9	117	-60	1349	453465	5435640	410	3925
OSK-W-21-2544-W1	128	-50	1140	452960	5435539	419	3425
OSK-W-21-2599	328	-62	774	452787	5434526	397	2800
OSK-W-21-2646-W1	109	-58	1236	453326	5435648	413	3800
OSK-W-22-2540-W12	117	-60	885	453465	5435640	410	3925
OSK-W-22-2540-W13	117	-60	911	453465	5435640	410	3925
WST-21-0914	148	-59	502	453105	5435066	231	3325
WST-21-0928	154	-70	391	453507	5435327	-7	3800
WST-21-0936A	137	-48	570	453257	5435209	96	3525
WST-21-0996A	143	-45	427	453358	5435297	-149	3675
WST-21-0997	119	-45	640	453506	5435326	-90	3800
WST-22-1000	139	-45	447	453359	5435297	-149	3675
WST-22-1001	124	-46	637	453506	5435326	-90	3800
WST-22-1006	122	-45	610	453506	5435326	-90	3800

 

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.

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres in thickness. 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.

 

Underdog

Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated, stringer, semi-massive to massive pyrite with minor sphalerite, chalcopyrite and molybdenite associated with strong sericite and silica alteration. Mineralization is hosted along the intrusive contacts of a three-phase composite felsic porphyritic unit which cross-cuts felsic and mafic volcanic sequences.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated January 10, 2022 is supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project” dated February 10, 2022 (with an effective date  of October 21, 2021), and assuming a cut-off grade of 3.50 g/t Au, comprises 565,000 tonnes at 11.6 g/t Au (210,000 ounces) in the measured mineral resource category, 8,907,000 tonnes at 10.5 g/t Au (2,994,000 ounces) in the indicated mineral resource category and 13,035,000 tonnes at 8.6 g/t Au (3,585,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the January 10, 2022, news release, certain of which are described in the January 10, 2022, news release, are further described in the full technical report for this updated mineral resource estimate in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold 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 2,500 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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