Category: Investors
Osisko Intersects 611 g/t Au Over 2.0 Metres At Windfall
Additional High Grade Results from Caribou, Wolf, Zone 27 and Underdog
(Toronto. September 20, 2017) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Abitibi, Québec. The recently expanded 800,000 metre drill program combines definition, expansion and exploration drilling in and around the main Windfall gold deposit and in the adjacent Lynx deposit (located immediately NE of Windfall). Significant new analytical results from 42 intercepts in 28 drill holes and wedges focused on infill and expansion drilling in the Underdog, Caribou, Zone 27 and Mallard corridors of the Windfall deposit are presented below.
Highlights from the new results include: 611 g/t Au over 2.0 metres (15.4 g/t Au over 2.0 metres cut) in OSK-W-17-913; 297 g/t Au over 2.1 metres (14.5 g/t Au over 2.1 metres cut) in OSK-W-17-862-W1; 120 g/t Au over 2.0 metres (28.7 g/t Au over 2.0 metres cut) in OSK-W-17-871-W1; 60.5 g/t Au over 2.4 metres in OSK-W-17-973; 65.5 g/t Au over 2.0 metres in OSK-W-17-978; and 47.0 g/t Au over 2.3 metres in OSK-W-17-820-W1. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole Number | From (m) |
To (m) |
Interval (m) |
Au (g/t) uncut |
Au (g/t) cut to 100 g/t |
Zone | Corridor |
OSK-EAG-13-494 | 738.5 | 740.6 | 2.1 | 6.52 | Wolf | Caribou | |
Including | 740.0 | 740.6 | 0.6 | 19.6 | |||
749.0 | 751.0 | 2.0 | 4.56 | Wolf | Caribou | ||
OSK-OBM-16-601 | 657.6 | 659.6 | 2.0 | 16.2 | FW3U | Underdog | |
OSK-W-17-820-W1 | 943.0 | 945.0 | 2.0 | 5.78 | FW0 FW | Underdog | |
including | 944.0 | 945.0 | 1.0 | 11.3 | |||
949.0 | 951.0 | 2.0 | 9.02 | FW0 FW | Underdog | ||
1109.2 | 1111.4 | 2.2 | 31.7 | 27.7 | FW3 HW | Underdog | |
including | 1110.8 | 1111.4 | 0.6 | 115 | 100 | ||
1146.7 | 1149.0 | 2.3 | 47.0 | 18.1 | Z14 | Underdog | |
including | 1147.1 | 1147.5 | 0.4 | 266 | 100 | ||
OSK-W-17-842 | 540.0 | 545.5 | 5.5 | 14.5 | 8.9 | CS1 | Caribou |
including | 540.0 | 540.4 | 0.4 | 182 | 100 | ||
OSK-W-17-847 | 831.0 | 833.0 | 2.0 | 6.87 | FW0 HW | Underdog | |
1085.1 | 1089.0 | 3.9 | 8.85 | FW2 | Underdog | ||
OSK-W-17-855 | 166.6 | 169.4 | 2.8 | 3.93 | Vein | ||
OSK-W-17-855-W1 | 752.0 | 754.0 | 2.0 | 21.0 | FW1 | Underdog | |
including | 752.0 | 753.0 | 1.0 | 41.2 | |||
OSK-W-17-855-W2 | 924.8 | 928.3 | 3.5 | 26.1 | FW3 | Underdog | |
including | 924.8 | 925.5 | 0.7 | 33.5 | |||
including | 925.5 | 925.9 | 0.4 | 66.2 | |||
including | 927.0 | 928.3 | 1.3 | 31.5 | |||
1095.8 | 1098.0 | 2.2 | 9.20 | Z14 | Underdog | ||
including | 1097.0 | 1098.0 | 1.0 | 18.6 | |||
OSK-W-17-858-W2 | 486.3 | 488.6 | 2.3 | 8.51 | Wolf FW | Caribou | |
630.1 | 632.5 | 2.4 | 32.6 | VNCR | Underdog | ||
including | 631.6 | 632.5 | 0.9 | 76.6 | |||
810.7 | 812.7 | 2.0 | 9.50 | VNCR | Underdog | ||
including | 810.7 | 811.2 | 0.5 | 34.5 | |||
OSK-W-17-862 | 369.3 | 372.2 | 2.9 | 17.4 | Caribou | ||
including | 369.3 | 370.8 | 1.5 | 30.8 | |||
OSK-W-17-862-W2 | 712.7 | 714.8 | 2.1 | 297 | 14.5 | Vein | Z27 |
including | 713.8 | 714.1 | 0.3 | 2080 | 100 | ||
OSK-W-17-864 | 790.3 | 793.0 | 2.7 | 14.0 | FW3U | Underdog | |
including | 792.0 | 793.0 | 1.0 | 28.6 | |||
OSK-W-17-871 | 152.0 | 156.8 | 4.8 | 17.9 | 13.4 | Caribou | Caribou |
including | 155.5 | 156.0 | 0.5 | 143 | 100 | ||
OSK-W-17-871-W1 | 752.1 | 754.1 | 2.0 | 120 | 28.7 | FW3U | Underdog |
including | 753.7 | 754.1 | 0.4 | 557 | 100 | ||
OSK-W-17-880-W1 | 464.0 | 466.5 | 2.5 | 4.57 | Z27 | Z27 | |
including | 466.0 | 466.5 | 0.5 | 12.1 | |||
OSK-W-17-885 | 1092.0 | 1100.0 | 8.0 | 6.69 | FW0 FW | Underdog | |
including | 1092.0 | 1093.0 | 1.0 | 22.3 | |||
1366.0 | 1368.6 | 2.6 | 6.55 | FW3 | Underdog | ||
including | 1367.0 | 1367.8 | 0.8 | 18.2 | |||
OSK-W-17-889 | 386.5 | 388.5 | 2.0 | 16.2 | Caribou | Caribou | |
including | 388.0 | 388.5 | 0.5 | 58.0 | |||
OSK-W-17-901 | 137.0 | 139.0 | 2.0 | 13.8 | Caribou | ||
209.0 | 211.0 | 2.0 | 7.12 | Caribou | |||
including | 210.0 | 211.0 | 1.0 | 13.3 | |||
OSK-W-17-903 | 559.0 | 561.0 | 2.0 | 10.7 | Z27 | Z27 | |
including | 559.8 | 560.3 | 0.5 | 37.7 | |||
OSK-W-17-913 | 719.0 | 721.0 | 2.0 | 611 | 15.4 | Wolf 2 | Caribou |
including | 719.8 | 720.1 | 0.3 | 4070 | 100 | ||
857.0 | 859.0 | 2.0 | 13.6 | Wolf FW | Caribou | ||
including | 857.0 | 858.0 | 1.0 | 26.5 | |||
OSK-W-17-937 | 445.0 | 448.0 | 3.0 | 5.58 | Vein | Z27 | |
including | 447.0 | 448.0 | 1.0 | 11.8 | |||
OSK-W-17-968 | 160.0 | 162.4 | 2.4 | 5.77 | Z27 | Z27 | |
OSK-W-17-973 | 57.4 | 59.8 | 2.4 | 60.5 | 51.6 | Z27 | Z27 |
including | 57.9 | 58.9 | 1.0 | 122 | 100 | ||
64.0 | 66.1 | 2.1 | 5.12 | Z27 | Z27 | ||
including | 65.7 | 66.1 | 0.4 | 25.2 | |||
OSK-W-17-977 | 269.5 | 271.7 | 2.2 | 12.0 | Mallard | Mallard | |
including | 270.8 | 271.7 | 0.9 | 25.4 | |||
OSK-W-17-978 | 98.0 | 100.0 | 2.0 | 65.5 | 20.1 | VNCR | New |
including | 99.6 | 100.0 | 0.4 | 327 | 100 | ||
108.0 | 110.0 | 2.0 | 14.0 | New | |||
including | 109.1 | 109.4 | 0.3 | 92.2 | |||
OSK-W-17-989-W1 | 504.0 | 511.0 | 7.0 | 3.59 | CS1 FW | Caribou | |
514.0 | 517.0 | 3.0 | 7.74 | ||||
including | 515.0 | 516.0 | 1.0 | 20.5 | |||
OSK-W-17-1026 | 60.3 | 62.6 | 2.3 | 4.57 | Z27 | Z27 | |
including | 62.0 | 62.6 | 0.6 | 16.5 | |||
OSK-W-17-1051 | 857.1 | 859.8 | 2.7 | 5.36 | Z14 | Underdog |
Notes:
- True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
- Definitions: FW = foot wall; HW = hanging wall; VNCR = crustiform vein.
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Section |
OSK-EAG-13-494 | 330 | -60 | 1197 | 452731 | 5434557 | 2750 |
OSK-OBM-16-601 | 332 | -51 | 801 | 452476 | 5434677 | 2600 |
OSK-W-17-1026 | 129 | -45 | 147 | 452119 | 5434787 | 2325 |
OSK-W-17-1051 | 138 | -68 | 1248 | 452313 | 5435323 | 2775 |
OSK-W-17-820-W1 | 332 | -66 | 1358 | 452670 | 5434484 | 2675 |
OSK-W-17-842 | 331 | -59 | 948 | 452509 | 5434390 | 2475 |
OSK-W-17-847 | 334 | -69 | 1347 | 452645 | 5434429 | 2625 |
OSK-W-17-855 | 334 | -64 | 717 | 452309 | 5434384 | 2300 |
OSK-W-17-855-W1 | 334 | -64 | 1197 | 452309 | 5434384 | 2300 |
OSK-W-17-855-W2 | 334 | -64 | 1197 | 452309 | 5434384 | 2300 |
OSK-W-17-858-W2 | 331 | -53 | 909 | 452524 | 5434616 | 2600 |
OSK-W-17-862 | 332 | -55 | 993 | 452683 | 5434577 | 2725 |
OSK-W-17-862-W2 | 332 | -55 | 759 | 452683 | 5434577 | 2725 |
OSK-W-17-864 | 330 | -53 | 813 | 452467 | 5434581 | 2525 |
OSK-W-17-871 | 328 | -54 | 533 | 452402 | 5434623 | 2500 |
OSK-W-17-871-W1 | 328 | -54 | 840 | 452402 | 5434623 | 2500 |
OSK-W-17-880-W1 | 327 | -50 | 801 | 452425 | 5434565 | 2500 |
OSK-W-17-885 | 335 | -67 | 1458 | 452861 | 5434494 | 2850 |
OSK-W-17-889 | 333 | -57 | 786 | 452695 | 5434564 | 2725 |
OSK-W-17-901 | 328 | -55 | 810 | 452391 | 5434638 | 2500 |
OSK-W-17-903 | 329 | -56 | 801 | 452539 | 5434692 | 2650 |
OSK-W-17-913 | 334 | -52 | 954 | 452878 | 5434419 | 2825 |
OSK-W-17-937 | 333 | -57 | 935 | 452897 | 5434430 | 2850 |
OSK-W-17-968 | 152 | -51 | 201 | 451948 | 5434759 | 2175 |
OSK-W-17-973 | 150 | -46 | 96 | 451969 | 5434707 | 2175 |
OSK-W-17-977 | 331 | -51 | 540 | 452207 | 5434816 | 2425 |
OSK-W-17-978 | 335 | -67 | 804 | 452851 | 5434803 | 2975 |
OSK-W-17-989-W1 | 336 | -56 | 751 | 452660 | 5434497 | 2675 |
Underdog Corridor
OSK-OBM-16-601 intersected 16.2 g/t Au over 2.0 metres. Mineralization is composed of 5% pyrite stringers and ptygmatic tourmaline veins and disseminated pyrite hosted in a strongly sericitized andesite. The interval extends the FW3 upper 40 metres north-east of OSK-OBM-16-609 (63.2 g/t Au over 7.7 metres previously reported August 1, 2017).
OSK-W-17-820-W1 returned two intersections in the FW0 Footwall Zone: 5.78 g/t Au over 2.0 metres (including 11.3 g/t Au over 1.0 metre) and 9.02 g/t Au over 2.0 metres (including 12.0 g/t Au over 1.0 metre). Mineralization is composed of 1% disseminated pyrite or pyrite stringers within a fragmental felsic intrusion. The two intersections are 50 metres up-plunge and south-west of OSK-W-17-820 (5.79 g/t Au over 6.3 metres previously reported July 19, 2017). OSK-W-17-820-W1 also intersected the FW3 Zone returning 31.7 g/t Au over 2.2 meters, (including 115 g/t Au over 0.6 metres) (27.7 g/t Au over 2.2 metres cut) and the Z14 Zone, 47.0 g/t Au over 2.3 metres (including 266 g/t Au over 0.4 metres) (18.1 g/t Au over 2.3 metres cut). Both intersections are similar and associated with felsic porphyritic dikes with up to 2% pyrite stringers and local quartz veins. The interval in FW3 is 40 metres south-west of OSK-W-17-821 (9.27 g/t Au over 3.3 metres previously reported May 30, 2017).
OSK-W-17-847 intersected two intervals: 6.87 g/t Au over 2.0 metres and 8.85 g/t Au over 3.9 metres in the Underdog corridor. In the first interval, mineralization is within the fragmental felsic dike and composed of 1% pyrite stringers, and correlates with the FW0 hanging wall. In the second interval mineralization is composed of up to 20% pyrite stringers and pyrite-tourmaline stringers hosted in a strongly silicified felsic porphyritic intrusion. The interval correlates to the FW2 Zone 50 metres north-east of OBM-15-560 (11.0 g/t Au over 6.1 metres previously reported January 28, 2016).
OSK-W-17-855-W1 intersected 21.0 metres over 2.0 metres (including 41.2 g/t Au over 1.0 metre). Mineralization is composed of up to 30% pyrite in a fragmental felsic dike. The interval correlates to the FW1 Zone.
OSK-W-17-855-W2 intersected 26.1 g/t Au over 3.5 metres (including 66.2 g/t Au over 0.4 metres, 33.5 g/t over 0.7 metres and 31.5 g/t Au over 1.3 metres) in the FW3 Zone. Mineralization is composed of up to 7% pyrite stringers, traces of tourmaline-pyrite stringers, up to 5% disseminated pyrite, and local decimeter scale pyrite massive bands. It is hosted in a porphyritic felsic dike with quartz-eyes and strong silica alteration. This intersection is 50 metres north-east of OSK-W-17-807-W2 (32. 9 g/t Au over 2.0 metres previously reported August 14, 2017). OSK-W-17-855-W2 also intersected 9.2 g/t over 2.2 metres (including 18.6 g/t Au over 1.0 metre) in the Z14 Zone. Mineralization is composed of 1% disseminated pyrite associated to large quartz-eyes porphyritic dike. It is 70 metres north-east of OSK-W-17-807-W2 (4.29 g/t Au over 2.0 metres previously reported June 20, 2017).
OSK-W-17-864 intersected 14.0 g/t Au over 2.7 metres (including 28.6 g/t Au over 1.0 metre) in the FW3 Upper Zone. Mineralization is composed of up to 3% disseminated pyrite and up to 1% pyrite stringers hosted in the andesite. It is 25 metres south-west of OSK-W-17-854-W2 (18.6 /t Au over 3.5 metres previously reported August 1, 2017) and 15 metres north-east of OSK-W-17-871-W1 (120 g/t Au over 2.0 metres, this press release).
OSK-W-17-871-W1 intersected 120 g/t Au over 2.0 metres, (including 557 g/t Au over 0.4 metres) (28.7 g/t Au over 2.0 metres cut). Mineralization is composed of local visible gold, up to 10% disseminated pyrite, up to 10% pyrite tourmaline stringers and 2% pyrite stringers in a sericitized and chloritized rhyolite. The intersection is related to the FW3 Upper Zone and is 40 metres south-west of OSK-W-17-854-W2 (18.6 /t Au over 3.5 metres previously reported August 1, 2017).
OSK-W-17-885 returned two intersections: 6.69 g/t Au over 8.0 metres (including 22.3 g/t Au over 1.0 metre) and 6.55 g/t Au over 2.6 metres (including 18.2 g/t au over 0.8 metres). The first interval consists of a strongly sericitized and moderately silicified felsic intrusion with 2-5% disseminated pyrite and 1-2 % pyrite stringers in the FW0 Footwall Zone and is 100 metres north-east of OSK-17-780-W1 (5.97 g/t Au over 17.0 metres previously reported April 11, 2017). The second interval is a silica-rich zone with 3-5% tourmaline-pyrite stringers and 2% disseminated pyrite. This intersection is in the FW3 Zone and is 50 metres south-west of OSK-W-17-780 (9.38 g/t Au over 4.0 metres previously reported April 6, 2017).
OSK-W-17-889 intersected 4.35 g/t Au over 3.5 metres in the Wolf 2 Zone. Mineralization contains up to 20% pyrite stringers within a bleached andesite. It is 40 metres west-south-west of OSK-W-17-844 (8.14 g/t Au over 2.5 metres previously reported August 1, 2017).
OSK-W-17-1051 intersected 5.36 g/t Au over 2.7 metres. The strongly sericitized felsic dike hosts 3% pyrite stringers and trace tourmaline stringers. The interval correlates to Z14 Zone, a division of the FW3 Zone, 30 metres north-east of OSK-W-16-708-W1 (3.74 g/t Au over 3.0 metres previously reported August 31, 2016).
Caribou Corridor
OSK-EAG-13-494 intersected two intervals in Wolf: 6.52 g/t Au over 2.1 metres (including 19.6 g/t Au over 0.6 metres) and 4.56 g/t Au over 2.0 metres. Both intersectiions follow a contact between the andesite and a large quartz-eye porphyritic intrusion, with mineralization comprising up to 2% disseminated pyrite and pyrite stringers and associated with strong sericite alteration. The intersections infill 35 meters north-east of OSK-W-16-708-W1, and 25 meters south-west of OSK-16-708-W2 (12.5 g/t Au over 3.8 metres and 4.47 g/t Au over 2.8 metres, previously reported August 31 and September 12, 2016).
OSK-W-17-842 intersected the CS1 Zone within the Caribou Corridor and returned 14.5 g/t Au over 5.5 metres (including 182 g/t Au over 0.4 metres) (8.90 g/t Au over 5.5 metres cut). Mineralization is composed of 10% pyrite stringers and tourmaline-pyrite veins hosted in a fragmental andesite strongly sericitized, and is 50 metres north-east of OSK-W-16-749 (12.7 g/t Au over 5.4 metres previously reported January 23, 2017).
OSK-W-17-858-W2 intersected three intervals: 8.51 g/t Au over 2.3 metres; 32.6 g/t Au over 2.4 metres (including 76.6 g/t Au over 0.9 metres) and 9.50 g/t Au over 2.0 metres (including 34.5 g/t Au over 0.5 metre). The first interval correlates to the Wolf Zone and is composed of 2% pyrite and carbonate veins in a strongly sericitized felsic dike. The second and third intervals consists of a crustiform quartz carbonate vein in the Red Dog intrusion and in the andesite. Local visible gold, 5% pyrite stringers and tourmaline-pyrite stringers are also observed. The deepest vein is within the FW3 Upper Zone, 25 metres north-east of OSK-OBM-16-697 (29.1 g/t Au over 2.6 metres previously reported May 30, 2017).
OSK-W-17-862 intersected 17.4 g/t Au over 2.9 metres (including 30.8 g/t Au over 1.5 metres). Mineralization is at a contact between a gabbro and rhyolite with up to 4% disseminated pyrite in the silica altered zone. The interval is 30 metres above OSK-W-17-889 (16.2 g/t Au over 2.0 metres in this press release).
OSK-W-17-871 was previously reported on August 1,2017 with a cut value of 13.4 g/t Au over 4.8 metres. Additional analysis was done on the samples greater than 100 g/t and the interval has been recalculated to 17.9 g/t Au over 4.8 metres (including 143 g/t Au over 0.5 metres). The cut value remains unchanged. The mineralized zone is in a bleached to strongly sericitized large quartz-eye felsic intrusion containing 7% pyrite stringers. The intersection is 25 metres north-east of OSK-W-17-901 (16.2 g/t Au over 2.1 metres previously reported August 1, 2017) within the Caribou Corridor.
OSK-W-17-889 intersected 16.2 g/t Au over 2.0 metres (including 58.0 g/t Au over 0.5 metres) in the main Caribou Zone. Mineralization is at a contact between the gabbro and the rhyolite. The 1% pyrite stringers are associated with strong sericite alteration and a quartz-tourmaline vein. The interval is 30 metres below OSK-W-17-862 (17.4 g/t over 2.9 metres in this press release).
OSK-W-17-901 intersected two intervals: 13.8 g/t Au over 2.0 metres and 7.12 g/t Au over 2.0 metres (including 13.3 g/t Au over 1.0 metre). In both intervals, mineralization is composed of up to 1% disseminated pyrite and 1% pyrite stringers. The host rhyolite is strongly alterated in silica, sericite and carbonates. The first interval correlates to Caribou Main Zone and the second interval to Caribou footwall, 65 metres below OBM-16-660 (7.25 g/t Au over 6.9 metres previously published July 11, 2016).
OSK-W-17-913 intersected 611 g/t Au over 2.0 metres (including 4070 g/t Au over 0.3 metres) (15.4 g/t Au over 2.0 metres cut). The high-grade zone contains local visible gold and 1% pyrite stringers associated with pervasive silica flooding within a felsic dike. The host rock is strongly sericitized. The intersection correlates to the Wolf 2 Zone, 50 metres east-north-east of OSK W-16-718 (8.5 g/t Au over 4.7 metres previously reported September 19, 2016). The hole also intersected 13.6 g/t Au over 2.0 metres (including 26.5 g/t Au over 1.0 metre) in the Wolf footwall. Mineralization is associated with a large quartz-eyes porphyritic dike and composed of disseminated pyrite and trace of pyrite stringers. The interval is 40 metres north-east of OSK-W-16-718 (4.78 g/t Au over 2.6 metres previously reported September 19, 2016).
OSK-W-17-989-W1 intersected two proximate intervals in Caribou South 1 Zone: 3.59 g/t Au over 7.0 metres and 7.74 g/t Au over 3.0 metres (including 20.5 g/t Au over 1.0 metre). Mineralization is associated to a porphyritic felsic intrusion crosscutting a strongly sericitized and silicified andesite. Up to 20% pyrite stringers are observed. The interval is 65 metres south-west of OSK-W-16-709 (4.90 g/t Au over 3.7 metres previously reported August 23, 2016).
Zone 27
OSK-W-17-862-W2 intersected 297 g/t Au over 2.1 metres (including 2080 g/t Au over 0.3 metres) (14.5 g/t Au over 2.1 metres cut). The mineralization correlates to Zone 27 along the Red Dog intrusion contact, with visible gold associated with disseminated pyrite and pervasive silica alteration in a strongly silicified andesite.
OSK W-17-903 intersected 10.7 g/t Au over 2.0 metres (including 37.7 g/t Au over 0.5 metres). Mineralization consists of 2% pyrite stringers, 3% pyrite-tourmaline stringers and 5% disseminated pyrite hosted in silica and sericite altered andesite. The intersection correlates to Zone 27, 45 metres above OSK-W-16-746 (16.5 g/t Au over 3.7 metres previously reported January 5, 2017).
OSK-W-17-968 intersected 5.77 g/t Au over 2.4 meters in Zone 27. Mineralization consists of 3% quartz-tourmaline veins and 5% pyrite stringers in a strongly sericitized felsic dike. This intersection is 15 meters above OBM-16-600 (12.9 g/t Au over 4.2 metres previously reported March 16, 2016).
OSK-W-17-973 intersected two intervals in Zone 27: 60.5 g/t Au over 2.4 metres (including 122 g/t Au over 1.0 metre) (51.6 g/t Au over 2.4 metres cut) and 5.12 g/t Au over 2.1 metres (including 25.2 g/t Au over 0.4 metres). The first interval is composed of semi-massive pyrite in a silica altered porpyritic felsic dike. The second interval is at the contact between two felsic dikes and is composed of 1% pyrite in clusters or stringers.
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Osisko Intersects 36 g/t Au Over 6.9 Metres At Lynx
(Toronto, September 18, 2017) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Abitibi, Québec. The recently expanded 800,000 metre drill program combines definition, expansion and exploration drilling in and around the main Windfall gold deposit and in the adjacent Lynx deposit (located immediately NE of Windfall). Significant new analytical results from 29 intercepts in 21 drill holes focused on infill and expansion drilling in the Lynx deposit are presented below.
Highlights from the new results include: 36.0 g/t Au over 6.9 metres (29.9 g/t Au over 6.9 metres cut) in OSK-W-17-1006; 116 g/t Au over 2.3 metres (31.8 g/t Au over 2.3 metres cut) in OSK-W-17-873; 25.5 g/t Au over 4.0 metres in OSK-W-17-924; (27.1 g/t Au over 3.5 metres (20.5 g/t Au over 3.5 metres cut) OSK-W-17-922; 24.3 g/t Au over 3.5 metres in OSK-W-1010; and 21.3 g/t Au over 3.0 metres in OSK-W-17-1048. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole Number | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t |
Zone | Corridor |
---|---|---|---|---|---|---|---|
OSK-W-17-848 | 363.0 | 365.5 | 2.5 | 7.95 | Lynx 1 | Lynx | |
Including | 364.5 | 365.5 | 1.0 | 19.9 | |||
518.5 | 520.6 | 2.1 | 15.1 | Lynx HW | Lynx | ||
Including | 518.5 | 519.5 | 1.0 | 26.2 | |||
OSK-W-17-861 | 388.5 | 390.5 | 2.0 | 9.41 | Lynx 2 | Lynx | |
Including | 388.5 | 389.5 | 1.0 | 18.7 | |||
506.7 | 507.2 | 2.3 | 4.06 | Lynx HW | Lynx | ||
including | 508.6 | 509.0 | 0.4 | 12.6 | |||
OSK-W-17-868 | 267.0 | 269.0 | 2.0 | 8.22 | Lynx 1 | Lynx | |
including | 267.4 | 268.2 | 0.8 | 18.0 | |||
OSK-W-17-873 | 300.0 | 302.0 | 2.0 | 9.30 | Lynx 2 | Lynx | |
including | 300.5 | 300.8 | 0.3 | 59.9 | |||
306.2 | 308.5 | 2.3 | 116 | 31.8 | Lynx 2 | Lynx | |
including | 307.8 | 308.5 | 0.7 | 375 | 100 | ||
320.9 | 323.3 | 2.4 | 10.7 | VNCR | Lynx | ||
including | 320.9 | 321.7 | 0.8 | 28.7 | |||
OSK-W-17-882 | 417.0 | 420.0 | 3.0 | 3.39 | VNCR | Lynx | |
including | 418.0 | 418.5 | 0.5 | 18.8 | |||
OSK-W-17-883 | 288.5 | 290.5 | 2.0 | 3.89 | Lynx 2 | Lynx | |
OSK-W-17-907 | 952.0 | 954.0 | 2.0 | 30.2 | TBD | Lynx | |
including | 952.4 | 953.1 | 0.7 | 85.2 | |||
OSK-W-17-909 | 908.0 | 910.0 | 2.0 | 11.8 | Lynx 1 | Lynx | |
including | 908.5 | 909.0 | 0.5 | 37.0 | |||
982.9 | 986.0 | 3.1 | 4.94 | Lynx 1 | Lynx | ||
OSK-W-17-914 | 239.3 | 241.6 | 2.3 | 27.2 | 26.6 | Lynx HW | Lynx |
including | 240.7 | 241.0 | 0.3 | 105 | 100 | ||
OSK-W-17-921 | 328.6 | 330.6 | 2.0 | 20.6 | Lynx 1 | Lynx | |
including | 329.3 | 329.7 | 0.4 | 97.8 | |||
OSK-W-17-922 | 456.1 | 459.6 | 3.5 | 27.1 | 20.5 | Lynx 2 | Lynx |
including | 457.5 | 457.8 | 0.3 | 176 | 100 | ||
OSK-W-17-924 | 308.0 | 312.0 | 4.0 | 25.5 | Lynx 2 FW | Lynx | |
OSK-W-17-928 | 376.2 | 378.3 | 2.1 | 9.1 | Lynx 2 | Lynx | |
including | 376.7 | 377.6 | 0.9 | 20.0 | |||
OSK-W-17-945 | 481.0 | 483.0 | 2.0 | 5.38 | Lynx 1 | Lynx | |
OSK-W-17-949 | 196.0 | 200.0 | 4.0 | 5.18 | Lynx HW | Lynx | |
including | 196.5 | 196.9 | 0.4 | 28.3 | |||
214.1 | 216.1 | 2.0 | 4.5 | Lynx 1 | Lynx | ||
236.3 | 238.3 | 2.0 | 10.4 | Lynx 2 | Lynx | ||
including | 236.9 | 237.3 | 0.4 | 49.1 | |||
OSK-W-17-957 | 193.7 | 197.9 | 4.2 | 6.02 | Lynx 2 | Lynx | |
including | 197.6 | 197.9 | 0.3 | 64.1 | |||
212.0 | 214.0 | 2.0 | 21.5 | Lynx 2 | Lynx | ||
including | 212.6 | 213.2 | 0.6 | 70.6 | |||
OSK-W-17-958 | 441.8 | 444.0 | 2.2 | 9.18 | Lynx 2 | Lynx | |
OSK-W-17-974 | 172.0 | 174.0 | 2.0 | 24.2 | Lynx 2 | Lynx | |
including | 172.8 | 173.3 | 0.5 | 94.2 | |||
OSK-W-17-1006 | 383.3 | 390.2 | 6.9 | 36.0 | 29.9 | Lynx 2 | Lynx |
including | 383.3 | 384.2 | 0.9 | 147 | 100 | ||
including | 384.6 | 385.7 | 1.1 | 62.3 | |||
including | 389.3 | 390.2 | 0.9 | 41.4 | |||
OSK-W-17-1010 | 310.5 | 314.0 | 3.5 | 24.3 | VNCR | Lynx | |
including | 310.5 | 311.5 | 1.0 | 62.9 | |||
OSK-W-17-1048 | 216.0 | 219.0 | 3.0 | 21.3 | Lynx 2 | Lynx | |
including | 217.8 | 219.0 | 1.2 | 37.4 |
Notes:
- True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
- Definitions: HG = Hanging wall; FT = Foot Wall; VNCR = crustiform vein and TBD = To be determined.
Hole Number | Azimuth (°)
|
Dip (°)
|
Length (m)
|
UTM E | UTM N | Section |
OSK-W-17-848 | 135 | -45 | 669 | 453311 | 5435357 | 3650 |
OSK-W-17-861 | 150 | -45 | 726 | 453386 | 5435455 | 3775 |
OSK-W-17-868 | 332 | -64 | 435 | 453428 | 5434977 | 3575 |
OSK-W-17-873 | 326 | -61 | 393 | 453427 | 5434976 | 3575 |
OSK-W-17-882 | 331 | -53 | 471 | 453369 | 5434846 | 3450 |
OSK-W-17-883 | 326 | -60 | 396 | 453455 | 5434983 | 3600 |
OSK-W-17-907 | 134 | -51 | 1317 | 453219 | 5435340 | 3575 |
OSK-W-17-909 | 131 | -55 | 1119 | 453683 | 5435677 | 4125 |
OSK-W-17-914 | 332 | -53 | 447 | 453390 | 5434852 | 3475 |
OSK-W-17-921 | 331 | -57 | 447 | 453428 | 5434865 | 3525 |
OSK-W-17-922 | 144 | -52 | 591 | 453360 | 5435437 | 3725 |
OSK-W-17-924 | 334 | -54 | 375 | 453414 | 5434927 | 3550 |
OSK-W-17-928 | 333 | -64 | 465 | 453433 | 5434905 | 3550 |
OSK-W-17-945 | 149 | -50 | 557 | 453374 | 5435444 | 3750 |
OSK-W-17-949 | 333 | -55 | 423 | 453434 | 5434969 | 3575 |
OSK-W-17-957 | 327 | -56 | 228 | 453329 | 5434973 | 3475 |
OSK-W-17-958 | 143 | -55 | 1212 | 453359 | 5435439 | 3725 |
OSK-W-17-974 | 330 | -59 | 357 | 453302 | 5434978 | 3450 |
OSK-W-17-1006 | 136 | -49 | 762 | 453281 | 5435348 | 3625 |
OSK-W-17-1010 | 330 | -53 | 369 | 453313 | 5434908 | 3425 |
OSK-W-17-1048 | 333 | -52 | 303 | 453215 | 5434914 | 3350 |
OSK-W-17-848 intersected two intervals: 7.95 g/t Au over 2.5 metres (including 19.9 g/t Au over 1.0 metre) and 15.1 g/t Au over 2.1 metres (including 26.2 g/t Au over 1.0 metre). In the first interval, the mineralization is composed of local tourmaline-pyrite stringers, tourmaline stringers and disseminated pyrite within a fragmental intrusion with sericite and silica alteration. The intersection correlates to Lynx 1, 40 metres above OSK-W-17-912 (19.8 g/t Au over 2.0 metres and 6.65 g/t Au over 2.8 metres previously reported August 24, 2017). In the second interval, the mineralization is composed of up 2% disseminated pyrite, 2% pyrite stringers and tourmaline veins. The interval correlates to Lynx HW, 120 metres south-west of OSK-W-17-836 (3.30 g/t Au over 2.3 metres).
OSK-W-17-861 intersected two intervals: 9.41 g/t Au over 2.0 metres (including 18.7 g/t Au over 1.0 metre), related to the Lynx 2, and 4.06 g/t Au over 2.3 metres (including 12.6 g/t Au over 0.4 metres), related to Lynx HW. The mineralization consists of 5% pyrite-tourmaline stringers within a silica altered rhyolite. The first intersection is 40 metres east-north-east of OSK W-17-912 (14.6 g/t Au over 2.2 meters previously reported August 24, 2017) and the second intersection is 40 metres down plunge of OSK-W-17-818.
OSK-W-17-868 intersected 8.22 g/t Au over 2.0 metres (including 18.0 g/t Au over 0.8 metres). The mineralization is composed of up to 10% pyrite stringers, up to 7% disseminated pyrite and local gold hosted in a strongly silicified and sericitized rhyolite.
OSK-W-17-873 intersected two intervals in the Lynx 2 Zone: 9.30 g/t Au over 2.0 metres (including 59.9 g/t Au over 0.3 metres) and 116 g/t Au over 2.3 metres (including 375 g/t Au over 0.7 metres) (31.8 g/t Au over 2.3 metres cut). A third interval with a crustiform quartz vein averaged 10.7 g/t Au over 2.4 metres (including 28.7 g/t Au over 0.8 metres). In Lynx 2, the mineralization is composed of quartz-carbonate veins with up to 5% disseminated pyrite and up to 2% pyrite stringer cross cutting sericitized rhyolite and strongly silica altered gabbro, with local visible gold. The crustiform vein contains up to 3% disseminated pyrite.
OSK-W-17-882 intersected 3.39 g/t Au over 3.0 metres (including 18.8 g/t Au over 0.5 metres) in Lynx 2, contained in a weakly silicified gabbro with small crustiform veins and trace disseminated pyrite.
OSK-W-17-883 intersected 3.89 g/t Au over 2.0 metres in the Lynx 2 Zone. The mineralization consists of up to 2% pyrite stringers and ptygmatic tourmaline veins in a silica altered rhyolite. The interval is 30 metres east of OSK-W-17-873 (116 g/t Au over 2.3 metres, this press release).
OSK-W-17-907 intersected 30.2 g/t Au over 2.0 metres (including 85.2 g/t Au over 0.7 metres). The mineralization is composed of up to 2% pyrite in a sericitized and silicified rhyolite.
OSK-W-17-909 intersected two intervals: 11.8 g/t Au over 2.0 metres (including 37.0 g/t Au over 0.5 metres) and 4.94 g/t Au over 3.1 metres. This interval consists of intense pervasive silica flooding hosted in a gabbro. Mineralization includes up to 7% pyrite stringers. The intersection correlates to Lynx 1, 400 metres down plunge and north-east of OSK-W-17-836. The intersection is 200 metres vertically below OSK-W-17-908 (10.6 g/t Au over 4.2 metres, 7.34 g/t au over 4.1 metres and 12.6 g/t Au over 2.5 metres, previously reported August 9, 2017).
OSK-W-17-914 intersected 27.2 g/t Au over 2.3 metres, (including 105 g/t Au over 0.3 metres) (26.6 g/t Au over 2.3 metres cut). The intersection consists of pervasive silica flooding containing 10% pyrite stringers, 1% disseminated pyrite and local visible gold. Mineralization is hosted in a sericitized rhyolite with fuchsite. It correlates to the Lynx HW Zone, 50 metres south-east and sub parallel to the Lynx 1 Zone, and 75 metres down plunge of OSK-W-17-803 (5.23 g/t Au over 2.3 metres, previously reported April 11, 2017).
OSK-W-17-921 was previously reported on August 9, 2017, with a cut value of 3.05 g/t Au over 2.0 metres. Additional analysis was done on samples greater than 10 g/t Au and the interval was upgraded to 20.6 g/t Au over 2.0 metres (including 97.8 g/t Au over 0.4 metres). Mineralization consist of 5% pyrite stringers and 2% disseminated pyrite at a contact between gabbro and a large quartz-eye felsic dike. The intersection represents the Lynx 1 Zone, 20 metres south-west of OSK-W-17-839 (6.58 g/t Au over 8.3 metres previously reported July 12, 2017).
OSK-W-17-922 intersected 27.1 g/t Au over 3.5 metres, (including 176 g/t Au over 0.3 metres) (20.5 g/t Au over 3.5 metres cut). The intersection is hosted in a strongly silicified and fuschitized gabbro. The mineralization consists of 30% smoky quartz-carbonate-tourmaline-pyrite veins and up to 4% quartz-tourmaline veins. The high-grade sample intervals contain local visible gold, 10% pyrite-tourmaline stringers and 3-4% disseminated pyrite-tourmaline. The intersection is within the Lynx 2 Zone, 30 metres west of OSK-W-17-898 (23.5 g/t Au over 3.0 metres and 12.2 g/t Au over 2.5 metres respectively reported August 9, 2017 and July 25, 2017).
OSK-W-17-924 intersected 25.5 g/t Au over 4.0 metres in Lynx 2, with local visible gold and 1% disseminated pyrite, and pyrite stringers in a silica altered rhyolite. The interval is 25 metres south-west of OSK-W-17-873 (116 g/t Au over 2.3 metres, this press release).
OSK-W-17-928 intersected 9.1 g/t Au over 2.1 metres (including 20.0 g/t Au over 0.9 metres) in Lynx 2. Mineralization comprises 2% pyrite stringers at the contact between gabbro and a felsic porphyritic dike.
OSK-W-17-945 intersected 5.38 g/t Au over 2.0 metres in Lynx 1. The mineralization is composed of up to 1% disseminated pyrite in a chloritized gabbro. The interval is 45 metres north-east of OSK-W-17-898 (17.3 g/t Au over 2.3 metres previously reported July 25, 2017).
OSK-W-17-949 intersected three intervals: 5.18 g/t Au over 4.0 metres (including 28.3 g/t Au over 0.4 metres) in Lynx HW; 4.5 g/t Au over 2.0 metres in Lynx 1; and 10.4 g/t Au over 2.0 metres (including 49.1 g/t Au over 0.4 metres) in Lynx 2. The first interval is at a contact between the rhyolite and the gabbro; the second and the third intervals are in a strongly silicified rhyolite. Small fragmental felsic dikes crosscut the rhyolite. Mineralization is mainly composed of up to 5% pyrite stringers. The Lynx HW and Lynx 1 intersections are 25 metres north-east of OSK-W-17-870 (25.7 g/t Au over 2.7 metres and 18.9 g/t Au over 2.8 metres previously reported July 12, 2017). The Lynx 2 interval is 45 metres north-east of OSK-W-17-873 (10.0 g/t Au over 2.6 metres previously reported July 12, 2017).
OSK-W-17-957 intersected two intervals in Lynx 2 Zone: 6.02 g/t Au over 4.2 metres (including 64.1 g/t Au over 0.3 metres) and 21.5 g/t Au over 2.0 metres (including 70.6 g/t Au over 0.6 metres). Mineralization is composed of up to 3% pyrite fragments, up to 15% disseminated pyrite and local visible gold hosted in a strongly sericitized fragmental felsic intrusion. These intervals are 10 metres west of OSK-W-17-895 (8.98 g/t Au over 6.5 metres previously reported August 9, 2017).
OSK-W-17-958 intersected 9.18 g/t Au over 2.2 metres. Mineralization is composed of up to 3% disseminated pyrite and pyrite stringers in a strongly sericitized fragmental felsic intrusion. The intersection is 70 metres down plunge to the north-east of OSK-W-17-898 (12.2 g/t Au over 2.5 metres previously reported July 25, 2017).
OSK-W-17-974 intersected 24.2 g/t Au over 2.0 metres (including 94.2 g/t Au over 0.5 metres) in Lynx 2. The mineralization is composed of up to 20% disseminated pyrite and a quartz-tourmaline vein. The fragmental felsic dike host is strongly sericitized and silicified. The interval is 30 metres south-west of OSK-W-17-957 (6.02 g/t Au over 4.2 metres reported in this press release).
OSK-W-17-1006 intersected 36.0 g/t Au over 6.9 metres (including 147 g/t Au over 0.9 metres; 62.3 g/t Au over 1.1 metres; and 41.4 g/t Au over 0.9 metres) (29.9 g/t Au over 6.9 metres cut). Mineralization consists of two centimeter-scale smoky quartz veins at low core angles with 10% pyrite and local visible gold within a sericite and silica altered fragmental felsic unit. The intersection is related to the Lynx 2 Zone, 50 metres east of OSK-W-17-812 (26.0 g/t Au over 2.5 metres previously reported May 3, 2017).
OSK-W-17-1010 intersected 24.3 g/t Au over 3.5 metres (including 62.9 g/t Au over 1.0 metre). Mineralization is in a crustiform vein (quartz, carbonate and tourmaline) with local visible gold, 5% pyrite stringers and pyrite clusters hosted in a fragmental felsic volcanic. The vein is 20 metres north-east of OSK-W-17-877 (57.8 g/t Au over 2.3 metres previously reported July 25, 2017).
OSK-W-17-1048 intersected 21.3 g/t Au over 3.0 metres (including 37.4 g/t Au over 1.2 metres) in the Lynx 2 Zone. The mineralization is composed of up to 5% pyrite stringers and 2% quartz-tourmaline veins hosted in a strongly sericitized and silicified rhyolite. The intersection is 30 metres below OSK-W-17-849 (7.10 g/t Au over 2.0 metres previously reported July 12, 2017).
Quality Control and Reporting Protocols
True widths determinations are estimated at 65-80% of the reported core length intervals for most of the zones. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at ALS Laboratories in Val dOr, Québec, Thunder Bay and Sudbury, Ontario or Vancouver, British Colombia or Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by the previous operator comprises 2,762,000 tonnes at 8.42 g/t Au (748.000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1.400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Quebec and Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 800,000 metre drill program; the significance of new results from the ongoing drill program at the Windfall Lake gold project; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling, expansion drilling to the NE of the main deposit and adjacent Lynx deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation. at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions. Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information, Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski. President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 1.12 g/t Au Over 59.3 Metres At Garrison
(Toronto, Aug 22, 2017). Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Garrison gold project located in Garrison Township, Ontario. Over 60,000 metres of new drilling have been conducted by Osisko on the Garrison Project to date. A total of twelve new intercepts in twenty-two holes are reported in this release, with significant assay results presented in the table below.
Significant new results include: 583 g/t Au over 1.0 metre (30 g/t over 1.0 metre cut), 12.9 g/t Au over 2.0 metres and 14.6 g/t Au over 2.0 metres in OSK-G17-381; 1.12 g/t Au over 59.3 metres in OSK-G17-393; 1.20 g/t over 33.8 metres in OSK-G17-386; 7.82 g/t Au over 3.0 metres in OSK-G17-378; 1.04 g/t Au over 34.0 metres in OSK-G17-362; and 1.13 g/t over 22.0 metres in OSK-G17-398.
The new results continue to demonstrate the potential to expand the extent of known mineralization in the 903 and Garrcon zones. The 2017 drill program will continue to explore extensions of the mineralized zones within the Garrcon, Jonpol and 903 zones.
Maps and sections showing hole locations and complete drilling results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 30 g/t |
Zone |
OSK-G17-362 | 33.0 | 67.0 | 34.0 | 1.04 | 903 | |
OSK-G17-364 | 218.7 | 220.9 | 2.2 | 6.16 | 903 | |
237.7 | 241.4 | 3.7 | 3.97 | 903 | ||
OSK-G17-375 | 139.0 | 141.8 | 2.8 | 3.75 | 903 | |
243.3 | 245.4 | 2.1 | 5.05 | 903 | ||
574.5 | 576.5 | 2.0 | 11.5 | Garrcon | ||
OSK-G17-378 | 289.0 | 292.0 | 3.0 | 7.82 | 903 | |
OSK-G17-381 | 419.5 | 420.5 | 1.0 | 583 | 30 | Garrcon |
450.0 | 452.0 | 2.0 | 12.9 | Garrcon | ||
495.0 | 497.0 | 2.0 | 14.9 | Garrcon | ||
OSK-G17-386 | 25.5 | 27.4 | 1.9 | 5.19 | Garrcon | |
37.2 | 71.0 | 33.8 | 1.20 | Garrcon | ||
OSK-G17-393 | 28.0 | 87.3 | 59.3 | 1.12 | Garrcon | |
OSK-G17-398 | 65.0 | 87.0 | 22.0 | 1.13 | Garrcon |
Notes: True Widths are estimated at 65 – 90% of the reported core length interval. See “Quality Control” below.
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Section |
OSK-G17-325 | 333 | -55 | 958 | 578363 | 5373850 | 1500W |
OSK-G17-358 | 339 | -45 | 351 | 577366 | 5373226 | 2650W |
OSK-G17-360 | 340 | -50 | 280 | 577584 | 5373359 | 2400W |
OSK-G17-362 | 340 | -47 | 195 | 577331 | 5373322 | 2650W |
OSK-G17-364 | 340 | -45 | 258 | 576738 | 5373051 | 3300W |
OSK-G17-365 | 340 | -45 | 345 | 577289 | 5373145 | 2750W |
OSK-G17-366 | 338 | -47 | 468 | 576770 | 5372955 | 3300W |
OSK-G17-368 | 160 | -45 | 642 | 577593 | 5373043 | 2500W |
OSK-G17-369 | 340 | -50 | 450 | 577165 | 5373047 | 2900W |
OSK-G17-372 | 339 | -55 | 460 | 577875 | 5373146 | 2200W |
OSK-G17-373 | 337 | -48 | 279 | 577712 | 5373299 | 2300W |
OSK-G17-375 | 339 | -46 | 660 | 577748 | 5373204 | 2300W |
OSK-G17-376 | 337 | -45 | 393 | 576695 | 5372870 | 3400W |
OSK-G17-377 | 339 | -45 | 480 | 577340 | 5373004 | 2750W |
OSK-G17-378 | 340 | -45 | 398 | 576585 | 5372885 | 3500W |
OSK-G17-381 | 337 | -60 | 707 | 578549 | 5373645 | 1400W |
OSK-G17-384A | 342 | -46 | 408 | 576505 | 5372800 | 3600W |
OSK-G17-385 | 283 | -45 | 73 | 578547 | 5373843 | 1350W |
OSK-G17-386 | 282 | -60 | 141 | 578547 | 5373843 | 1350W |
OSK-G17-393 | 279 | -45 | 207 | 578583 | 5373885 | 1300W |
OSK-G17-394 | 337 | -49 | 414 | 577476 | 5373217 | 2550W |
OSK-G17-398 | 280 | -45 | 178 | 578591 | 5373906 | 1300W |
OSK-G17-362 was completed in the central section of the 903 Zone to target the near surface extension. The hole intersected the main syenite body at the bedrock interface at a vertical depth of 23 metres showing moderate hematite alteration, quartz veining and disseminated pyrite. This near surface intersection averaged 1.04 g/t Au over 34.0 metres.
OSK-G17-364 and OSK-G17-378 were drilled to test the western strike extension of the 903 Zone. The holes were drilled 200 metres apart along strike and both holes intersected a similar highly altered band of metasediment showing significant deformation and hosted within ultramafic schist. Mineralization consists of disseminated pyrite along with significantly deformed quartz carbonate veining with hematite alteration. OSK-G17-364 cut two mineralized zones averaging 6.16 g/t Au over 2.2 metres and 3.97 g/t Au over 3.7 metres. OSK-G17-378 intersected 7.82 g/t Au over 3.0 metres.
OSK-G17-375 was drilled to test the eastern extensions of the 903 Zone at shallow depths as well as the western extension of the Garrcon Zone at depth. Within the 903 Zone the hole intersected quartz stringers along the contact of a narrow band of metasediment hosted within ultramafic schists, with 3-4% disseminated pyrite in the metasediment and fuchsite alteration in the ultramafic. This zone returned 3.75 g/t Au over 2.8 metres and 5.05 g/t Au over 2.1 metres. Within the western extension of the Garrcon Zone the hole intersected a broad zone of iron carbonate altered and silicified metasediment characteristic of the main Garrcon Zone. Within the metasediment are several 1-2 cm wide quartz stringers carrying coarse pyrite and minor visible gold which returned 11.5 g/t Au over 2.0 metres, corresponding to previously reported OSK-G17-331 (10.9 g/t Au over 3.9 metres, March 15, 2017) 100 metres to the east.
OSK-G17-381 tested the Garrcon Zone below the existing resource along the footwall of the Destor Porcupine Fault Zone. The hole intersected the footwall metasediment as well as three mineralized intervals. The most significant interval was a weakly hematite altered zone of metasediment containing quartz fracturing with locally 2% pyrite including a quartz stringer running at low angle to the core axis containing coarse visible gold. This interval returned 583 g/t Au over 1 metre (30 g/t Au over 1 metre cut) where the coarse gold occurs, and correlates to previously reported from OSK-G17-346 which returned 45.0 g/t Au over 2.4 metres (April 12, 2017) 100 metres west which also contained coarse visible gold. OSK-G17-381 intersected two additional nearby intervals averaging 12.9 g/t Au over 2.0 metres and 14.9 g/t Au over 2.0 metres, also containing quartz stringers carrying pyrite within the metasediment.
OSK-G17-386, 393, 398 were all short holes testing the extension of the mineralization that was extracted by the previous operator in 2014-2015 from the Garrcon bulk sample west pit. The three holes were drilled along 70 metres strike length with each of them intersecting a broad zone of highly altered metasediment. Mineralization within the west pit is associated with quartz veins from 1-10 cm and quartz carbonate breccias up to 30 cm. Pervasive iron carbonate alteration with locally strong hematite and sericite alteration is associated with the veining. Local visible gold occurs as 1-2mm flakes within quartz along with fine to medium grained pyrite in quartz and disseminated within the altered sections of metasediment. OSK-G17-386 intersected 5.19 g/t Au over 1.9 metres and 1.20 g/t Au over 33.8 metres; OSK-G17-393 intersected 1.12 g/t over 59.3 metres; and OSK-G17-398 intersected 1.13 g/t Au over 22.0 metres.
OSK-G17-325, -358, -360, -365, -366, -368, -369, -372, -373, -376, -377, -384A, -385, -394 did not intersect significant mineralization.
Qualified Person
The scientific and technical content of this press release has been reviewed, prepared and approved by Mr. Greg Matheson, P.Geo. Senior Project Manager of the Garrison 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
True widths of the new exploration intercepts reported in this press release have yet to be determined, but are typically 65 – 90% of reported core lengths. Additional drilling is planned for the immediate area which will enable the true width determination. Assays are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 1.0 g/t Au. All HQ core assays reported were obtained by either whole sample rock metallic screen/fire assay or standard 30 gram fire-assaying with ICP finish at SGS Minerals Services in Cochrane, Ontario. The whole sample metallic screen assay method is selected by the geologist when samples contain coarse gold or any samples displaying gold initial fire assay values greater than 4g/t. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Garrison Project
The Garrison Project area is comprised of 214 mineral claims, 25 mining leases, and 87 patent claims encompassing approximately 8,000 hectares. Both Garrcon and Jonpol have resource estimates that are described in a technical report prepared in accordance with NI 43-101, which was completed by a previous operator Northern Gold Mining Inc. (entitled “Technical Report on the Golden Bear Project – Garrison Property: Larder Lake Mining Division, Garrison Township, Ontario, Canada”) dated December 30, 2013, with an effective date of December 30, 2013 (the “Garrison Technical Report”). The Garrison Technical Report was prepared by A.C.A. Howe International Limited for Northern Gold Mining Inc. (a wholly-owned subsidiary of Osisko) and is available on Osiskos website at www.osiskomining.com and on SEDAR under Northern Gold Mining Inc.s issuer profile at www.sedar.com.
Resource estimates were conducted by A.C.A. Howe International Limited according to CIM standards. The Garrcon Zone estimates showed 15.1 million tonnes with an average grade of 1.07 g/t Au (521,000 oz) in measured resources; 14.1 million tonnes averaging 1.16 g/t Au (526,000 oz) in indicated resources; and 1.7 million tonnes averaging 0.72 g/t Au (39,000 oz) in inferred resources. Potential underground resources of 5.1 million tonnes averaging 3.49 g/t Au (577,000 oz) in the inferred category were also outlined. Resources were reported at a cut-off grade of 0.4 g/t Au for open pit extraction and 1.5 g/t in a bulk underground mining scenario using a gold price of US$1,250/oz.
At the Jonpol Zone, resources were estimated as 0.87 million tonnes averaging 5.34 g/t Au (150,000 oz) in the indicated category; and 1.07 million tonnes averaging 5.56 g/t Au (192,000 oz) in inferred resources. Resources were reported at a cut-off grade of 3.0 g/t Au and assume an underground extraction scenario using a gold price of US$1,250/oz.
Readers are cautioned that inferred resources have a great amount of uncertainty as to their existence and as to whether they can be mined economically. It cannot be assumed that all or any part of the inferred resources will ever be upgraded to a higher category. Mineral resources are not mineral reserves and do not have demonstrated economic viability.
Garrcon Zone
The Garrcon Zone has a shallow plunge eastward along the footwall of the Destor-Porcupine Fault Zone with the bulk of the resource in the western, more densely drilled area. The zone is exposed at surface and has potential for open pit bulk mining at an estimated overall stripping ratio of 1.8:1. There is potential for additional underground resources below the pit and along the easterly plunge of the zone, which is open for further exploration down dip and along strike.
The Garrcon shaft was sunk in 1935 and 1936 by the Consolidated Mining and Smelting Co. of Canada (“Cominco”) and the Shaft and South Zones were tested for high grade gold mineralization. Cominco drove approximately 1,430 metres of drifts and cross cuts, mining underground veins. Diamond drilling by Cominco and Lac Minerals Ltd. in the mid-to-late 1980s identified broad sections of low grade mineralization. In 2006-2007, ValGold Resources Ltd. conducted additional drilling confirming these zones. From 2009-2013 Northern Gold Mining Inc. conducted 97,000 metres of diamond drilling which delineated the current resource.
In 2014, Northern Gold Mining Inc. was granted a trial mining permit allowing the extraction of up to 150,000 tonnes. Northern Gold Mining Inc. mined 73,534 dry tonnes which was processed at the nearby Holt mill facility recovering 3,516 oz at an average head grade of 1.55 g/t and recovery of 95.9%. The trial production permit remains active.
Jonpol Zone
Jonpol is situated in the Munro Fault Zone, a west striking splay off the north side of the Destor-Porcupine Fault. Hosted in a shear zone tens of metres wide in altered mafic volcanic rocks, the deposit consists of four high grade gold mineralized zones (JP, JD, RP and East) over a strike length of 1.7 kilometers. Gold mineralization is hosted in quartz carbonate veins, in mafic and ultramafic host rocks, and is associated with intense albite and/or sericite alteration and pyrite mineralization.
In 1997, a 49,087 tonne bulk sample was extracted from the central part of the JP zone by Hillsborough Resources Limited with an average grade of 6.7 g/t which produced 9,476 ounces Au. From 1985-2013, over 130,000 metres of drilling was completed on the property by previous operators. Development work on the JP zone included the sinking of a 184 metre shaft as well as development of a ramp to the 150 metre level with mining on six sublevels. The Jonpol infrastructure underwent reclamation in the late 1990s and was closed out in 2001, but the existing ramp and shaft are preserved.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Garrcon and Jonpol zones on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed and has approximately $190 million in cash and equity investment.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the ongoing drill program at the Garrison gold project; results of the current drill program; the significance of new drill results reported in this press release; the ability of new drill results to demonstrate potential for expansion of the previously defined Garrcon, Jonpol and 903 mineralized zones at the Garrison project; the scope of the 2017 drill program; that the 2017 drill program will follow new extensions of these mineralized zones to further define the scale of mineralization at the Garrison project; potential mineralization; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 63.2 g/t Au Over 7.7 Metres At Windfall
Wide Zones of High Grade Mineralization Continue in Underdog
(Toronto, August 1st 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Abitibi, Québec. The current 400,000 metres drill program combines definition drilling in Zone 27, definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, and expansion/definition drilling in the adjacent Lynx deposit located immediately to the NE of Windfall. Significant new assays from thirty-five intercepts in twenty-two drill holes focused on infill and expansion drilling in the Underdog, Caribou and Zone 27 Corridors are reported below.
Highlights from the new results include: 63.2 g/t Au over 7.7 metres (23.7 g/t Au over 7.7 metres cut) in DDH OSK-OBM-16-609; 8.44 g/t Au over 12.0 metres in DDH OSK-W-847; 9.18 g/t Au over 10.0 metres in DDH OSK-W-17-833-W2; 30.1 g/t Au over 3.0 metres in DDH OSK-W-17-847-W1; 29.8 g/t Au over 2.0 metres in DDH OSK-W-17-847; 24.4 g/t Au over 2.5 metres in DDH OSK-W-17-855; 20.4 g/t Au over 3.0 metres in DDH OSK-W-17-847; 13.4 g/t Au over 4.8 metres in DDH OSK-W-17-871; 18.7 g/t Au over 3.5 metres in DDH OSK-W-17-844; and 18.6 g/t Au over 3.5 metres in DDH OSK-W-17-854-W2. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t |
Zone | Corridor |
OSK-EAG-13-494 | 1013.0 | 1016.0 | 3.0 | 5.70 | FW3 | Underdog | |
OSK-OBM-16-609 | 654.3 | 662.0 | 7.7 | 63.2 | 23.7 | FW3U | Underdog |
including | 656.0 | 658.0 | 2.0 | 18.9 | |||
including | 660.0 | 662.0 | 2.0 | 222 | 69.7 | ||
OSK-W-17-813-W1 | 626.2 | 629.1 | 2.9 | 9.67 | CN1 | Caribou | |
including | 626.2 | 627.0 | 0.8 | 30.8 | |||
OSK-W-17-818 | 99.0 | 101.0 | 2.0 | 5.86 | Vein | Zone 27 | |
including | 100.0 | 100.4 | 0.4 | 29.0 | |||
OSK-W-17-821-W1 | 905.0 | 907.0 | 2.0 | 7.93 | FW0 | Underdog | |
including | 905.0 | 906.0 | 1.0 | 12.2 | |||
OSK-W-17-833 | 540.0 | 546.3 | 6.3 | 5.91 | CS1 | Caribou | |
including | 544.0 | 546.3 | 2.3 | 13.2 | |||
OSK-W-17-833-W1 | 534.0 | 536.0 | 2.0 | 8.27 | CS1 | Caribou | |
including | 534.0 | 534.5 | 0.5 | 25.4 | |||
815.5 | 818.0 | 2.5 | 5.60 | FW0 | Underdog | ||
including | 815.5 | 816.0 | 0.5 | 21.6 | |||
OSK-W-17-833-W2 | 534.0 | 544.0 | 10.0 | 9.18 | CS1 | Caribou | |
including | 542.0 | 544.0 | 2.0 | 39.0 | |||
OSK-W-17-842 | 505.5 | 508.0 | 2.5 | 3.79 | CS1 HW | Caribou | |
including | 505.5 | 505.9 | 0.4 | 18.4 | |||
OSK-W-17-844 | 568.7 | 571.2 | 2.5 | 8.14 | Wolf 2 | Caribou | |
including | 569.7 | 570.1 | 0.4 | 28.2 | |||
665.1 | 668.6 | 3.5 | 18.7 | Wolf | Caribou | ||
including | 668.0 | 668.6 | 0.6 | 69.4 | |||
OSK-W-17-847 | 601.0 | 603.0 | 2.0 | 29.8 | CS1 | Caribou | |
1162.0 | 1174.0 | 12.0 | 8.44 | FW3 | Underdog | ||
including | 1169.0 | 1170.0 | 1.0 | 32.9 | |||
1208.0 | 1211.0 | 3.0 | 20.4 | FW3 FW | Underdog | ||
OSK-W-17-847-W1 | 584.0 | 586.0 | 2.0 | 5.82 | CS1 HW | Caribou | |
including | 585.0 | 586.0 | 1.0 | 10.7 | |||
606.0 | 609.0 | 3.0 | 30.1 | CS1 | Caribou | ||
including | 608.0 | 609.0 | 1.0 | 81.9 | |||
643.0 | 645.0 | 2.0 | 4.08 | CS1 FW | Caribou | ||
including | 644.5 | 645.0 | 0.5 | 13.4 | |||
OSK-W-17-854 | 280.0 | 282.0 | 2.0 | 12.5 | Caribou | Caribou | |
including | 280.8 | 282.0 | 1.2 | 19.9 | |||
OSK-W-17-854-W2 | 795.7 | 799.2 | 3.5 | 18.6 | FW3U | Underdog | |
including | 798.1 | 798.6 | 0.5 | 80.3 | |||
OSK-W-17-855 | 269.0 | 271.5 | 2.5 | 24.4 | New | Caribou | |
including | 270.5 | 271.5 | 1.0 | 46.6 | |||
OSK-W-17-855-W1 | 916.3 | 919.5 | 3.2 | 3.79 | FW3 | Underdog | |
including | 919.0 | 919.5 | 0.5 | 15.8 | |||
OSK-W-17-858-W1 | 781.0 | 784.0 | 3.0 | 11.1 | FW3U | Underdog | |
including | 781.0 | 782.5 | 1.5 | 18.3 | |||
OSK-W-17-864 | 305.0 | 308.0 | 3.0 | 4.17 | Caribou | Caribou | |
518.0 | 524.0 | 6.0 | 8.22 | Z27 | Zone 27 | ||
768.4 | 770.7 | 2.3 | 4.15 | FW3U | Underdog | ||
including | 769.3 | 769.6 | 0.3 | 15.1 | |||
OSK-W-17-866 | 347.8 | 350.4 | 2.6 | 3.49 | New | Caribou | |
769.7 | 772.2 | 2.5 | 10.2 | Underdog | Underdog | ||
including | 771.6 | 772.2 | 0.6 | 40.0 | |||
1138.0 | 1140.0 | 2.0 | 13.9 | FW3 | Underdog | ||
1168.4 | 1172.9 | 4.5 | 4.50 | FW3 FW | Underdog | ||
including | 1168.4 | 1168.9 | 0.5 | 19.9 | |||
1229.2 | 1231.5 | 2.3 | 14.0 | FW3 FW | Underdog | ||
including | 1229.2 | 1229.9 | 0.7 | 41.1 | |||
OSK-W-17-871 | 152.0 | 156.8 | 4.8 | 13.4 | Caribou | Caribou | |
including | 155.5 | 156.0 | 0.5 | 100 | |||
177.3 | 179.9 | 2.6 | 3.47 | Caribou | Caribou | ||
including | 177.3 | 177.6 | 0.3 | 17.4 | |||
OSK-W-17-880 | 461.4 | 463.9 | 2.5 | 5.38 | Z27 | Zone27 | |
OSK-W-17-901 | 122.5 | 124.6 | 2.1 | 16.2 | Caribou | Caribou | |
including | 123.1 | 123.9 | 0.8 | 34.7 |
Notes:
- True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
- Definitions: FW = foot wall; HW = hanging wall.
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Section |
OSK-EAG-13-494 |
331 | -60 | 707 | 452731 | 5434537 | 2750 |
OSK-OBM-16-609 |
331 | -49 | 738 | 452459 | 5434642 | 2550 |
OSK-W-17-813-W1 |
332 | -63 | 662 | 452610 | 5434457 | 2600 |
OSK-W-17-818 |
329 | -61 | 165 | 451868 | 5434630 | 2050 |
OSK-W-17-821-W1 |
334 | -66 | 1416 | 452738 | 5434475 | 2725 |
OSK-W-17-833 |
330 | -58 | 1149 | 452597 | 5434395 | 2550 |
OSK-W-17-833-W1 |
331 | -57 | 1173 | 452597 | 5434395 | 2550 |
OSK-W-17-833-W2 |
331 | -57 | 1244 | 452595 | 5434394 | 2550 |
OSK-W-17-842 |
330 | -60 | 948 | 452509 | 5434390 | 2425 |
OSK-W-17-844 |
333 | -57 | 1092 | 452727 | 5434546 | 2750 |
OSK-W-17-847 |
334 | -69 | 1347 | 452644 | 5434430 | 2625 |
OSK-W-17-847-W1 |
334 | -69 | 1134 | 452644 | 5434430 | 2625 |
OSK-W-17-854 |
331 | -53 | 846 | 452481 | 5434592 | 2550 |
OSK-W-17-854-W2 |
331 | -53 | 364 | 452481 | 5434592 | 2550 |
OSK-W-17-855 |
332 | -65 | 717 | 452310 | 5434383 | 2300 |
OSK-W-17-855-W1 |
334 | -64 | 1197 | 452310 | 5434383 | 2300 |
OSK-W-17-858-W1 |
331 | -53 | 915 | 452527 | 5434612 | 2600 |
OSK-W-17-864 |
330 | -53 | 813 | 452467 | 5434584 | 2525 |
OSK-W-17-866 |
332 | -57 | 1275 | 452631 | 5434283 | 2525 |
OSK-W-17-871 |
328 | -54 | 533 | 452402 | 5434624 | 2500 |
OSK-W-17-880 |
327 | -50 | 813 | 452426 | 5434567 | 2500 |
OSK-W-17-901 |
328 | -55 | 800 | 452392 | 5434637 | 2500 |
Underdog Zone
OSK-EAG-13-494 intersected 5.70 g/t Au over 3.0 metres. Mineralization consists of 3% pyrite stringers and 7 to 10% disseminated pyrite. The host rock is a strongly sericitized and bleached intermediate to mafic volcanic unit. This interval extends the FW3 Zone 75 metres east of OSK-W-16-708-W1 (3.74 g/t Au over 3.0 metres, previously released August 31, 2016).
OSK-OBM-16-609 intersected 63.2 g/t Au over 7.7 metres (23.7 g/t Au over 7.7 metres cut) including 18.9 g/t Au over 2.0 metres and 222 g/t Au over 2.0 metres. Mineralization consists of several mineralized bands with 20% pyrite with traces of chalcopyrite and sphalerite. The host intermediate volcanic unit is sheared, foliated and highly altered (sericitized and bleached) with 1 to 10% disseminated pyrite and 1 to 10% pyrite-tourmaline stringers, with local semi-massive pyrite bands (5 to 15 centimetre). This intersection extends the FW3 Upper Zone 50 metres northeast of OSK-W-17-663-W1 (4.64 g/t Au over 2.0 metres, previously released May 30, 2017).
OSK-W-17-821-W1 intersected 7.93 g/t Au over 2.0 metres, including 12.2 g/t Au over 1.0 metre. Mineralization consists of 2% pyrite stringers hosted in a moderately bleached fragmental porphyritic intrusion. This interval corresponds to the FW0 Zone, 60 metres south-southwest of previously reported OBM-16-614-W1 that returned 4.96 g/t Au over 2.9 metres (previously released July 11, 2016).
OSK-W-17-833-W1 intersected 5.60 g/t Au over 2.5 metres, including 21.6 g/t Au over 0.5 metres. Mineralization is mainly 2% pyrite as stringers with up to 40% quartz-tourmaline stringers and 3% disseminated pyrite. The host unit is a fragmental porphyritic intrusion, highly sericitized, silicified and bleached. This interval corresponds to the FW0 Zone, 30 metres northeast of OSK-W-16-706-W1 which returned 34.6 g/t Au over 2.5 metres (previously released September 16, 2016).
OSK-W-17-847 returned two intersections: FW3 – 8.44 g/t Au over 12.0 metres (including 32.9 g/t Au over 1.0 metre), and FW3 FW – 20.4 g/t Au over 3.0 metres. FW3 mineralization contains 1 to 7% pyrite stringers, 1 to 15% disseminated pyrite, traces of chalcopyrite, and local visible gold hosted in a strongly altered (sericite and silica) blue quartz-eye porphyritic intrusion. The FW3 FW mineralization is composed of 10 to 15% pyrite tourmaline stringers, trace chalcopyrite and local visible gold. The first intersection corresponds to the FW3 Zone, 35 metres to the southwest of OSK-W-16-706-W2 which returned 4.95 g/t Au over 3.5 metres (previously released October 15, 2016). The second interval extended the FW3 corridor, 165 metres to the southwest of OSK-W-17-821 which returned 9.27 g/t Au over 3.3 metres (previously released May 30, 2017).
OSK-W-17-854-W2 intersected 18.6 g/t Au over 3.5 metres, including 80.3 g/t Au over 0.5 metres. Mineralization comprises 5% quartz tourmaline stringers with 1% disseminated pyrite and 3% disseminated chalcopyrite, with crustiform veins. The host rock is a strongly silicified, carbonatized and locally sericitized intermediate volcanic unit. This intersection is part of the infill program in the FW3 Upper Zone, located 25 metres southwest of OSK-W-17-854-W1 which returned 4.65 g/t Au over 2.8 metres (previously released July 19, 2017) and 25 metres vertically under OSK-W-17-830 which returned 7.56 g/t Au over 2.0 metres (previously released May 3, 2017).
OSK-W-17-855-W1 intersected 3.79 g/t Au over 3.2 metres (including 15.8 g/t Au over 0.5 metres). Mineralization is composed of 70 to 80% disseminated pyrite and 3 to 45% pyrite-tourmaline stringers hosted in a blue quartz-rich porphyritic intrusion. This intersection is part of the FW3 Zone and extends it 80 metres to the southwest of previously reported OSK-W-17-789-W2 (25.6 g/t Au over 3.1 metres; July 19, 2017).
OSK-W-17-858-W1 intersected 11.1 g/t Au over 3.0 metres, including 18.3 g/t Au over 1.5 metres. Mineralization consists of a mix of crustiform veins and 20 to 40% semi-massive pyrite stringers hosted in bleached and highly silicified intermediate volcanic units. This intersection is part of the infill program in the FW3 Upper Zone, located 30 metres northeast of EAG-11-269 which returned 7.71 g/t Au over 6.9 metres (previously released March 16, 2016) and 40 metres to the north northeast of OSK-W-17-466-W1 which returned 8.52 g/t Au over 5.2 metres (previously released May 24, 2017).
OSK-W-17-864 intersected 4.15 g/t Au over 2.3 metres, including 15.1 g/t Au over 0.3 metres. Mineralization comprises up to 3% disseminated pyrite and 3 to 5% pyrite stringers with ptygmatic tourmaline veins hosted in an intermediate volcanic unit. This intersection is part of the infill program in the FW3 Upper Zone, located 30 metres to the southwest of OSK-W-17-830 that returned 7.56 g/t Au over 2.0 metres and 30 metres east of EAG-11-254 (24.8 g/t Au over 6.8 metres; previously released March 14, 2016).
OSK-W-17-866 returned four intersections in the Underdog Corridor: 1) 130 m southeast of FW0, 10.2 g/t Au over 2.5 metres, including 40.0 g/t Au over 0.6 metres; 2) in the FW3 Zone, 13.9 g/t Au over 2.0 metres; 3) in the FW3 FW Zone, 4.5 g/t Au over 4.5 metres, including 19.9 g/t Au over 0.5 metres; and 4) 14.0 g/t Au over 2.3 metres, including 41.1 g/t Au over 0.7 metres, in the FW3 FW Zone. Mineralization in the first Underdog interval consists of 2% disseminated pyrite and up to 8% pyrite stringers hosted in a fragmental porphyritic intrusion. For the FW3 FW Zones, mineralization is 1 to 4% disseminated pyrite and trace to 4% pyrite stringers hosted in a quart-eye rich porphyritic felsic intrusion. For the FW3 Zone, the mineralization is composed of trace to 7% disseminated pyrite and irregular stringers (trace to 4%) with local chalcopyrite. The FW3 Zone hit above OSK-W-16-706-W1 (16.6 g/t Au over 8.9 metres; previously released September 19, 2016) and confirms an eastward lateral extension of the FW3 FW Zone (FW3 corridor). The intersection sits between FW3 FW and OSK-W-17-789-W2 (25.6 g/t Au over 3.1 metres; previously reported July 19, 2017) at 70 metres to the east-northeast of OSK-W-17-789-W2.
Caribou Zone
OSK-W-17-813-W1 intersected 9.67 g/t Au over 2.9 metres, including 30.8 g/t Au over 0.8 metres. Mineralization consists of 2% pyrite stringers and trace of disseminated pyrite. The host rock is a contact between a porphyritic felsic intrusion and an intermediate volcanic unit. This interval corresponds to the CN1 extension.
OSK-W-17-833 intersected 5.91 g/t Au over 6.3 metres, including 13.2 g/t Au over 2.3 metres. Mineralization comprises 1% disseminated pyrite, 4% pyrite stringers, 1% pyrite-tourmaline stringers and up to 1% chalcopyrite and semi-massive pyrite within a 50 cm ptygmatic tourmaline veins. The host rock is a fragmental intermediate volcanic unit, medium to strongly sericitized. This intersection corresponds to the CS1 corridor, 25 metres northwest of previously reported OSK-W-16-706-W1 that returned 5.75 g/t Au over 16.5 metres (uncut) (previously released June 19, 2016).
OSK-W-17-833-W1 intersected 8.27 g/t Au over 2.0 metres, including 25.4 g/t Au over 0.5 metres. Mineralization contains 3 to 6% disseminated pyrite and 1 to 2% pyrite stringers. The host rock is a bleached and medium to strongly sericitized intermediate volcanic unit. This interval matches with the CS1 corridor, 25 metres east of OSK-W-16-706 that returned 8.65 g/t Au over 3.0 metres (previously released August 31, 2016).
OSK-W-17-833-W2 intersected 9.18 g/t Au over 10.0 metres, including 39.0 g/t Au over 2.0 metres. The mineralization is composed of 10 to 15% pyrite stringers and 3 to 5% disseminated pyrite in a moderately bleached and sericitized intermediate volcanic unit. This interval coincides with the CS1 corridor, 25 metres southwest of OSK-W-17-706-W1 that returned 5.75 g/t Au over 16.5 metres (uncut) (previously released June 19, 2016)
OSK-W-17-842 intersected 3.79 g/t Au over 2.5 metres, including 18.3 g/t Au over 0.4 metres. Mineralization consists of 10% pyrite stringers and 1% quartz-tourmaline veins, with 20 cm of semi-massive pyrite stringers. This interval is hosted in a strongly bleached and sericitized intermediate volcanic unit in contact with a large quartz-eye porphyritic felsic intrusion, and coincides with the CS1 HW Zone, 50 metres southwest of OSK-W-17-823-W1 that returned 8.05 g/t Au over 5.4 metres (previously released April 4, 2017).
OSK-W-17-844 returned two intersections in the Wolf zones: Wolf 2 – 8.14 g/t Au over 2.5 metres (including 28.2 g/t Au over 0.4 metres) and Wolf – 18.7 g/t Au over 3.5 metres, (including 69.4 g/t Au over 0.6 metres). The Wolf 2 interval has 5% pyrite stringers within an intermediate volcanic unit. The Wolf interval corresponds to 3-5% pyrite stringers with local visible gold, 1 to 2% disseminated pyrite, and ptygmatic tourmaline veins hosted within a sericitic altered intermediate volcanic unit. This interval is related to Wolf 2 (between CS3 and Wolf), 35 metres west of OSK-W-16-718 which returned 8.5 g/t Au over 4.7 metres (previously released September 19, 2016).
OSK-W-17-847 intersected 29.8 g/t Au over 2.0 metres. Mineralization is composed of 4% pyrite stringers and disseminated pyrite hosted within an intermediate volcanic unit. This interval corresponds to the CS1 corridor, 25 metres east of previously reported OSK-W-17-847-W1 that returned 30.1 g/t Au over 3.0 metres (this press release).
OSK-W-17-847-W1 returned three intersections: 5.82 g/t Au over 2.0 metres, including 10.7 g/t Au over 1.0 metre, corresponding to CS1 HW; 30.1 g/t Au over 3.0 metres, including 81.9 g/t Au over 1.0 metre, corresponding to CS1 and 4.08 g/t Au over 2.0 metres, including 13.4 g/t Au over 0.5 metres, corresponding to CS1 FW. The first intersection includes 2% pyrite stringers and disseminated pyrite in a weakly chloritized and silicified mafic intrusion. The second interval corresponds to a weakly to moderately sericitized intermediate volcanic rock containing up to 5 % pyrite stringers and 2% disseminated pyrite. The third intersection corresponds to 1% pyrite stringers and disseminated pyrite within a weakly chloritized and silicified intermediate volcanic unit. The second interval stands 25 metres southwest of OSK-W-17-847 that returned 29.8 g/t Au over 2.0 metres (this press release).
OSK-W-17-854 intersected 12.5 g/t Au over 2.0 metres, including 19.9 g/t Au over 1.2 metres. Mineralization consists of a semi-massive pyritic interval within a weakly sericitized and high silica flood zone at the contact between a fragmented rhyolite and a quartz-eye porphyritic felsic intrusion. This interval is within the Caribou Corridor, 35 metres east of OSK-W-17-864 that returned 4.17 g/t Au over 3.0 metres (this press release).
OSK-W-17-855 intersected 24.4 g/t Au over 2.5 metres, including 46.6 g/t Au over 1.0 metre. Mineralization occurs in an intermediate volcanic rock with disseminated pyrite, pyrite stringers and semi-massive sulphides (up to 65%) with traces of chalcopyrite. This interval represents new values in the south part of the Caribou Corridor, 40 metres southeast of CS1.
OSK-W-17-864 intersected 4.17 g/t Au over 3.0 metres. Mineralization is observed in felsic intrusive dikes as semi-massive to massive sulphides (up to 80% pyrite) over 1 m, 1 to 10% pyrite stringers, up to 30% disseminated pyrite, and minor quartz-tourmaline veins. The intersection corresponds to the Caribou Corridor, 35 metres west of previously reported OSK-W-17-854 that returned 12.5 g/t Au over 2.0 metres (this press release).
OSK-W-17-866 intersected 3.49 g/t Au over 2.6 metres. This interval is a poor quartz-eye porphyritic felsic intrusion with 3 to 5% of disseminated pyrite associated with veinlets of sericite and pervasive chlorite alteration. This interval is 200 metres south-east of Caribou and corresponds to a potential new zone.
OSK-W-17-871 returned two intersections in the Caribou Corridor: 13.4 g/t Au over 4.8 metres, including 100 g/t Au over 0.5 metres, and 3.47 g/t Au over 2.6 metres, including 17.4 g/t Au over 0.3 metres. The first intersection is in a bleached to strong sericitized large quartz-eye felsic intrusion located before a fault zone and contains 7% pyrite stringers. Locally an altered (strong sericite and weak silica and chlorite) felsic volcanic unit is observed with 5% disseminated pyrite in a brecciated horizon. The second intersection is a brecciated contact between a felsic porphyritic and an intermediate intrusion with 5 to 7% pyrite stringers and 1 to 2% disseminated pyrite. First interval is 25 metres northeast of OSK-W-17-901 that returned 16.2 g/t Au over 2.1 metres (this press release). The second interval is 10 metres northeast of previously reported OBM-16-664 which returned 7.34 g/t Au over 3.0 metres (previously released June 16, 2016).
OSK-W-17-901 intersected 16.2 g/t Au over 2.1 metres, including 34.7 g/t Au over 0.8 metres. This interval is within a moderately altered zone containing pervasive silica, strong pervasive sericite and weak fracture-filling carbonates within a large quartz-eye porphyritic felsic intrusion. Mineralization occurs mainly in massive stringers accompanied by tourmaline veinlets and between 20 to 40% pyrite stringers. This interval corresponds to the Caribou Zone proper, 25 metres southwest of OSK-W-17-871 that returned 13.4 g/t Au over 4.8 metres (this press release).
Zone 27
OSK-W-17-818 intersected 5.86 g/t Au over 2.0 metres, including 29.0 g/t Au over 0.4 metres. Mineralization consists of quartz veins with trace disseminated pyrite and 8% of pyrite stringers hosted within a porphyritic intermediate intrusion.
OSK-W-17-864 intersected 8.22 g/t Au over 6.0 metres, including 22.7 g/t Au over 1.0 metre and 14.9 g/t Au over 1.7 metres. Mineralization occurs in a highly silicified intermediate volcanic unit and is composed of up to 20% pyrite associated with silicate flooding and up to 10% disseminated pyrite and traces disseminated chalcopyrite. The host rock is a contact between a large quartz-eye porphyritic felsic intrusion and an altered intermediate volcanic unit. This interval corresponds to Z27 Zone, 50 metres northeast of OBM-16-664 which returned 4.64 g/t Au over 10.2 metres (previously released June 16, 2016).
OSK-W-17-880 intersected 5.38 g/t Au over 2.5 metres. Mineralization is composed of up to 20% pyrite in intermediate volcanic rock units and 5% pyrite in a silicified felsic intrusion. This interval coincides to the Z27 Zone, 27 metres southwest of OSK-W-17-871 that returned 3.18 g/t Au over 2.7 metres (this press release).
Qualified Person
The scientific and technical content of this news release has been reviewed. prepared and approved by Mr. Louis Grenier. M.Sc.A.. P.Geo. (OGQ 800). Project Manager of the Windfall Lake gold project. who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated. and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr. Québec or Sudbury. Ontario. or Bureau Veritas in Timmins. Ontario. using the same protocols. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements. including silver. using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design. Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by the previous operator comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82.400 hectares). a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district. and properties in the Larder Lake Mining Division in northeast Ontario. including the Jonpol and Garrcon deposits on the Garrison property. the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations. estimates. projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400.000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog. expansion drilling above and below Red Dog. expansion drilling to the NE of the main deposit. and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities. including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions. expectations. interpretations. beliefs. plans. projections. objectives. assumptions. future events or performance (often but not always using phrases such as “expects”. or “does not expect”. “is expected”. “interpreted”. “managements view”. “anticipates” or “does not anticipate”. “plans”. “budget”. “scheduled”. “forecasts”. “estimates”. “believes” or “intends” or variations of such words and phrases or stating that certain actions. events or results “may” or “could”. “would”. “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation. at the time it was made. involves known and unknown risks. uncertainties and other factors which may cause the actual results. performance or achievements of Osisko to be materially different from any future results. performance or achievements expressed or implied by such forward-looking information. Such factors include. among others. risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities. including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes. or believed at the time. to be reasonable assumptions. Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information. as there may be other factors that cause results not to be as anticipated. estimated or intended. and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake. and assumes no obligation. to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances. except as may be required by law.
For further information please contact:
John Burzynski. President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 57.0 g/t Au Over 2.7 Metres At Lynx
Lynx Discovery Confirmed Over 1.7 Kilometre Strike Length
(Toronto, July 25, 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide new results and a geological update on the Lynx deposit from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current 400,000 metre drill program at Windfall combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, and expansion/definition drilling in the adjacent Lynx deposit located immediately to the NE of Windfall. Maps depicting Lynx and the new drill hole locations and full analytical results are available at www.osiskomining.com.
- Lynx deposit discovery extended by drilling to currently over 1.7 kilometres length and remains open to NE and SE
- Recently defined “Bank Fault” interpreted as key structure associated with intrusion-related gold mineralization at Windfall and Lynx, with potential regional extent
- 12 drills currently active on Lynx, 12 additional drills continue to define Windfall Deposit
Twenty-four drills are active on the overall Windfall Project. Twelve of those drills are currently focused on the principal Lynx deposit (Lynx HW, Lynx 1 and Lynx 2) and other subparallel Lynx zones (Lynx 3, 4, 5, and 6 and undesignated zones). Mineralization within individual zones of the Lynx deposit follow the same principal northeast oriented pathways along dike contacts as seen throughout the main Windfall deposit. One-hundred and sixty-five (165) holes have been completed in the Lynx deposit to date: complete assays have been received and released from 42 holes; partial assays have been received and released from an additional 41 holes; 82 holes are awaiting analysis.
Significant new assays from twenty-four intercepts in nineteen drill holes focused on infill and expansion drilling in the Lynx deposit are reported in the table below. Highlights from the new results include: 159 g/t Au over 2.7 metres, including 1.06 kilograms/tonne over 0.4 metres (17.0 g/t Au over 2.7 metres cut) from DDH OSK-W-17-857; 57.0 g/t Au over 2.7 (50.1 g/t Au over 2.7 metres cut) in DDH OSK-W-17-827; 57.8 g/t Au over 2.3 metres from DDH OSK-W-17-877; and 52.8 g/t Au over 2.3 metres from DDH OSK-W-17-879.
President and Chief Executive Officer John Burzynski noted: “Our exploration team has been working particularly hard over the past number of months absorbing the huge amount of new data from our large-scale drilling program, and with the new work on the Lynx discovery we are starting to see the emergence of a whole new high-grade deposit within our high-grade Windfall project. Windfall and Lynx are intrusive-related gold deposits with a proximal relationship to the Bank Fault. Although we are drilling towards a new resource estimate for Windfall by the end of this year, we believe the potential for expanding Windfall, Lynx and making new discoveries within the main deposit area is still completely wide-open.”
Hole Number | From (m) |
To (m) |
Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t |
Zone |
OSK-W-17-827 | 664.3 | 667.0 | 2.7 | 57.0 | 50.1 | Lynx 4 |
including | 666.0 | 667.0 | 1.0 | 119 | 100 | |
OSK-W-17-843 | 450.4 | 452.8 | 2.4 | 5.93 | VNCR | |
including | 450.4 | 451.1 | 0.7 | 19.0 | ||
OSK-W-17-845 | 316.2 | 318.2 | 2.0 | 10.7 | Lynx 1 | |
including | 316.7 | 317.5 | 0.8 | 26.3 | ||
OSK-W-17-857 | 361.5 | 364.2 | 2.7 | 159 | 17.0 | VNCR |
including | 363.8 | 364.2 | 0.4 | 1060 | 100 | |
OSK-W-17-870 | 230.9 | 233.7 | 2.8 | 18.9 | Lynx 1 | |
including | 230.9 | 231.6 | 0.7 | 69.0 | ||
OSK-W-17-873 | 327.0 | 329.5 | 2.5 | 4.29 | VNCR | |
including | 328.0 | 328.6 | 0.6 | 12.4 | ||
OSK-W-17-875 | 851.0 | 853.0 | 2.0 | 13.7 | Vein | |
including | 852.0 | 853.0 | 1.0 | 27.3 | ||
OSK-W-17-877 | 308.0 | 310.3 | 2.3 | 57.8 | VNCR | |
OSK-W-17-878 | 234.2 | 236.4 | 2.2 | 14.6 | VNCR | |
including | 235.8 | 236.4 | 0.6 | 51.5 | ||
364.0 | 366.0 | 2.0 | 16.8 | VNCR | ||
including | 364.3 | 365.3 | 1.0 | 33.2 | ||
OSK-W-17-879 | 108.1 | 110.4 | 2.3 | 52.8 | Lynx 2 | |
including | 108.6 | 109.4 | 0.8 | 96.2 | ||
115.8 | 117.8 | 2.0 | 14.5 | Lynx 2 | ||
including | 115.8 | 116.8 | 1.0 | 28.3 | ||
OSK-W-17-881 | 732.7 | 734.8 | 2.1 | 4.70 | VNCR | |
including | 733.3 | 733.9 | 0.6 | 14.2 | ||
OSK-W-17-883 | 254.0 | 256.0 | 2.0 | 12.4 | Lynx 1 + Lynx 2 | |
including | 254.9 | 255.4 | 0.5 | 36.8 | ||
259.0 | 261.0 | 2.0 | 7.52 | Lynx 1 + Lynx 2 | ||
including | 259.7 | 260.0 | 0.3 | 44.4 | ||
274.5 | 276.5 | 2.0 | 18.6 | Lynx 2 | ||
including | 275.5 | 276.5 | 1.0 | 32.5 | ||
OSK-W-17-887 | 492.0 | 494.6 | 2.6 | 24.3 | VNCR | |
including | 492.9 | 493.5 | 0.6 | 91.6 | ||
OSK-W-17-888 | 238.3 | 240.0 | 1.7 | 23.7 | Lynx 2 | |
including | 238.3 | 238.8 | 0.5 | 65.3 | ||
OSK-W-17-895 | 221.0 | 225.0 | 4.0 | 9.81 | Lynx 2 | |
including | 221.0 | 222.0 | 1.0 | 34.7 | ||
OSK-W-17-898 | 411.0 | 413.5 | 2.5 | 12.2 | Lynx 2 | |
449.7 | 452.0 | 2.3 | 17.3 | Lynx 1 | ||
OSK-W-17-906 | 279.0 | 280.0 | 1.0 | 8.37 | Lynx 2 FW | |
OSK-W-17-916 | 108.0 | 111.5 | 3.5 | 14.3 | Lynx HW | |
including | 108.0 | 108.5 | 0.5 | 75.1 | ||
OSK-W-17-924 | 278.4 | 280.7 | 2.3 | 12.5 | Lynx 2 | |
including | 280.0 | 280.7 | 0.7 | 35.0 |
OSK-W-17-827 returned 57.0 g/t Au over 2.7 metres including 119 g/t Au over 1.0 metre (50.1 g/t Au over 2.7 metres cut). Mineralization consists of 5% pyrite stringers and trace to 10% disseminated pyrite at a felsic porphyritic intrusion/felsic volcanic contact. Corresponds to Lynx 4, 335 metres southwest of previously reported OSK-W-17-816 which returned 11.7 g/t Au over 7.7 metres.
OSK-W-17-843 intersected 5.93 g/t Au over 2.4 metres, including 19 g/t Au over 0.7 metres. Mineralization comprises 60% crustiform veins and trace disseminated pyrite within an intermediate volcanic unit with strong chlorite, weak carbonate alteration. Corresponds to Lynx 3.
OSK-W-17-845 intersected 10.7 g/t Au over 2.0 metres, including 26.3 g/t Au over 0.8 metres. Mineralization consists of traces to 3% of disseminated pyrite, trace to 1% pyrite stringers and 5 to 8% quartz veins containing pyrite and sphalerite within an intensely silicified rhyolite. Corresponds to Lynx 1, 25 metres northeast of OSK-W-17-839 which returned 6.6 g/t Au over 8.3 metres (previously released, July, 12th, 2017).
OSK-W-17-857 returned 159 g/t Au over 2.7 metres, including 1060 g/t Au over 0.4 metres, (17.0 g/t Au over 2.7 metres cut). Up to 1% visible gold occurs in a massive crustiform vein cross cut and overprinted by secondary quartz veins and pyrite – tourmaline stringers. The host rock has strong silica flooding with fuchsite infilling fractures, and locally very weak sericite and chlorite alteration infilling fractures. Corresponds to the Lynx 2, 25 metres northeast of previously reported OSK-W-17-800 which returned 35.2 g/t Au over 2.8 metres (see April 25, 2017 press release).
OSK-W-17-870 returned 18.9 g/t Au over 2.8 metres, including 69 g/t Au over 0.7 metres. Mineralization consists of trace to 5% pyrite stringers hosted in fragmental felsic intrusion. Corresponds to Lynx 1, 35 metres northwest of OSK-W-17-873 which returned 10.7 g/t Au over 4.9 metres (previously released, July, 12, 2017).
OSK-W-17-873 intersected 4.29 g/t Au over 2.5 metres, including 12.4 g/t Au over 0.6 metres within a crustiform vein system, with 3% pyrite and tourmaline infilling.
OSK-W-17-875 intersected 13.7 g/t Au over 2.0 metres, including 27.3 g/t Au over 1.0 metres. Mineralization comprises traces to 1% of disseminated pyrite and trace pyrite-tourmaline stringers within a felsic volcanic unit with strong chlorite, sericite and silica flooding, located between Lynx 4 and Lynx 5.
OSK-W-17-877 intersected 57.8 g/t Au over 2.3 metres. Crustiform veins with 2 to 3% pyrite stringers in a bleached gabbro unit. Corresponds to Lynx 2, 55 metres southwest of OSK-W-17-779 which returned 21.6 g/t Au over 7.9 metres (previously released March 28, 2017).
OSK-W-17-878 intersected two mineralized zones: 14.6 g/t A over 2.2 metres, including 51.5 g/t Au over 0.6 metres within the Lynx HW Zone and 16.8 g/t Au over 2.0 metres, including 33.2 g/t Au over 1.0 metres within Lynx 3. Lynx HW mineralization comprises brecciated crustiform veins, 1 to 2% disseminated pyrite and 3% pyrite stringers in an andesite with strong sericite and chlorite alteration. Lynx 3 consists of crustiform veins hosted in gabbro with silica, carbonate, chlorite and fuchsite alteration, with 1 to 5% disseminated pyrite and trace to 2% pyrite stringers. Lynx 3 intercept is 25 metres northeast of OSK-W-17-859 which returned 73.5 g/t Au over 2.2 metres (previously released July 12, 2017).
OSK-W-17-879 returned two intersections: 52.8 g/t Au over 2.3 metres, including 96.2 g/t Au over 0.8 metres and 14.5 g/t Au over 2.0 metres, including 28.3 g/t Au over 1.0 metres. Mineralization consists of trace to 5% disseminated pyrite and local semi-massive sulphides hosted in a silicified and sericitized fragmental felsic intrusion. Correlates with Lynx 2 close to surface, 50 metres northeast of OSK-W-16-761 which returned 19.4 g/t Au over 2.0 metres and 71.3 g/t Au over 2.3 metres (previously released, February 15, 2017).
OSK-W-17-881 intersected 4.70 g/t Au over 2.1 metres, including 14.2 g/t Au over 0.6 metres within Lynx 4, mineralization consists of 3% pyrite-tourmaline stringers, 1 to 2% quartz-tourmaline veins, 5 to 10% disseminated and clustered pyrite, and 10% quartz veins hosted in a gabbroic unit with fuchsite, chlorite and silica alteration.
OSK-W-17-883 returned four intersections: 12.4 g/t Au over 2.0 metres, including 36.8 g/t Au over 0.5 metres and 7.52 g/t Au over 2.0 metres, including 44.4 g/t Au over 0.3 metres between Lynx 1 and Lynx 2; 18.6 g/t Au over 2.0 metres, including 32.5 g/t Au over 1.0 metres for Lynx 2 and 3.07 g/t Au over 2.2 metres, including 5.90 g/t Au over 1.1 metres for Lynx 3. Lynx 1 mineralization consists of 7 to 10% pyrite within a highly pervasive silica-flooding horizon hosted within a fragmental felsic intrusion and 1% of quartz-tourmaline veins. Lynx 2 mineralization is within a strongly pervasive silicified horizon with minor fuchsite at the contact of a rhyolite and a large quartz eye porphyritic felsic intrusion containing up to 10% of disseminated pyrite, stringers and ptygmatic tourmaline stringers and minor veins. Local visible gold occurs within the pervasive silica alteration. Lynx 3 consists of a crustiform vein with 5 to 8% disseminated pyrite, brecciated by pyrite-tourmaline stringers. Lynx 2 intersection is 30 metres southwest of OSK-W-17-878 (5.32 g/t Au over 15.7 metres, released July 12, 2017). Lynx 3, 22 metres southwest of OSK-W-17-878 (16.8 g/t Au over 2.0 meters (this press release).
OSK-W-17-887 returned 24.3 g/t Au over 2.6 metres, including 91.6 g/t Au over 0.6 metres. Mineralization consists of two main crustiform veins, 1 to 2% disseminated pyrite cross-cut by 5 to 6% pyrite stringers and local visible gold. The second crustiform vein contains 5 to 6% pyrite stringers and 1 to 2% disseminated sphalerite hosted in a gabbro.
OSK-W-17-888 intersected 23.7 g/t Au over 1.7 metres, including 65.3 g/t Au over 0.3 metres, consists of a large pervasive silica-flooded interval with fuchsite, up to 5% disseminated pyrite and 5% disseminated sphalerite. Local visible gold occurs along fractures concentrated in the pervasive silica intervals. Correlates with Lynx 2 thirty metres southwest of OSK-W-17-895 which returned 9.81 g/t Au over 4.0 metres (this press release).
OSK-W-17-895 returned 9.81 g/t Au over 4.0 metres, including 34.7 g/t Au over 1.0 metres. Mineralization consists of up to 8% disseminated pyrite and patches of semi-massive sulphides in a silicified and sericitized fragmental felsic intrusion. Correlates with Lynx 2, 30 metres southwest of OSK-W-17-888 which returned 23.7 g/t Au over 1.7 metres (this press release).
OSK-W-17-898 returned two intersections 12.2 g/t Au over 2.5 metres and 17.3 g/t Au over 2.3 metres. Mineralization for the first consists of 10% pyrite-quartz-tourmaline veins, 5% disseminated pyrite-tourmaline clusters and 2% pyrite in ptygmatic tourmaline veins in a fragmental felsic intrusion. Extends Lynx 2, 85 metres down plunge from OSK-W-17-812 (18.6 g/t Au over 4.1 metres, previously released April 25, 2017). The second interval is at the contact of a gabbro and a quartz-eye felsic intrusion containing 5% pyrite in a quartz-tourmaline vein, 7% pyrite-tourmaline stringers and 3% disseminated pyrite. Extends Lynx 1, 75 metres down plunge from OSK-W-17-799 (10.6 g/t Au over 1.9 metres, previously released April 5, 2017).
OSK-W-17-906 returned 8.37 g/t Au over 1.0 metre. Mineralization consists of trace to 2% disseminated pyrite hosted in a weak sericitized and strong silicified felsic volcanic unit.
OSK-W-17-916 intersected 14.3 g/t Au over 3.5 metres, including 75.1 g/t Au over 0.5 metres. Mineralization includes 3% pyrite-tourmaline stringers, 2 to 3% disseminated pyrite with pervasive silica flooding and 1% crustiform veins hosted within moderate to strong silicified rhyolite. Corresponds to Lynx HW, 25 metres southeast of OSK-W-17-846 (previously reported 113 g/t Au over 2.0 metres, July 12, 2017).
OSK-W-17-924 returned 12.5 g/t Au over 2.3 metres, including 35.0 g/t Au over 0.7 metres. Pervasive silica flooding containing up to 3% pyrite stringers and 2% pyrite-tourmaline stringers hosted in a sericitized and silicified rhyolite. Corresponds with Lynx 2, 20 metres north of OSK-W-17-834 (16.6 g/t Au over 2.4 metres, previously released, May 24, 2017).
Lynx Deposit Corridor Extended
The mineralized corridor hosting the Lynx deposit is represented by a silica-sericite alteration envelope following felsic porphyritic dikes hosted by volcanic rocks, and is further constrained between a gabbro, a brecciated felsic intrusion, and the Bank Fault which is believed to be regionally significant. The greatest abundance of visible gold observed to date in the Windfall area appears to be contained in the Lynx deposit and associated corridor. Gold mineralization follows very continuous zones of silicification that are surrounded by an outer and larger sericite envelope, accompanied by pyrite-tourmaline mineralization and hydrothermal breccias. Most drill intercepts to date range from 2 to 9 metres (core length) and reach up to 17.3 metres (core length); OSK-W-17-788, see April 5, 2017 press release).
Lynx begins near-surface, is sub-vertical, plunging 35 degrees to the northeast, and in drilling to date has been intersected 700 meters vertically below surface. The strike length of the Lynx discovery has been confirmed between sections 3050E and 4750E, extending the favourable geology 1.7 kilometers horizontally, and 1.8 kilometres in true length taking the plunge of the deposit into account. The deposit remains open to the northeast, and in potential parallel zones down-dip along the Bank Fault. Assays from holes up to section 3825E have been received and released. To date, step-out drilling has intersected geology, alteration and mineralization characteristic of the Lynx deposit to section 4750E, with 15 holes drilled between sections 3825E and 4750E, all with pending analytical results. Additional holes are planned to continue exploring the deposit which remains open in this direction.
Lynx 3, 4, 5, 6, and other new zones (undesignated at present) are subparallel mineralized zones to the main Lynx deposit (i.e. Lynx 1 + Lynx 2). Porphyritic felsic dikes hosted by volcanic rocks and associated silica-sericite alteration envelopes define these zones. Lynx 6 and other undesignated new zones are currently defined by geology, alteration and mineralization, with analytical results pending. Gold mineralization is associated with corridors of silicification with pyrite-tourmaline-sericite alteration mineralogy. Drill intercepts range from 2 to 5 meters width (core length) up to 7.7 metres width (core length). To date, Lynx 3, 4, 5, 6, and the undesignated new zones extend up to 175 metres length between sections 3350E and 3825E. The subparallel Lynx zones start within 100 metres of surface (Lynx 3) and to date have been traced to 800 metres below surface (Lynx 5). All zones remain open towards the southwest and the northeast.
A one to two metre thick corridor of quartz-carbonate crustiform veins with local visible gold is hosted within gabbro immediately below Lynx 1 / Lynx 2 and follows the same orientation. This zone has been followed up to 200 metres along strike and remains open to the NE.
The previously announced step-out hole (the “1400 metre” step-out, see February 3, 2017 press release, and subsequent “2200” metre step-out hole, which respectively correspond to deposit grid lines 4400E and 5200E) helped build the understanding of the geology the Windfall gold system. Further step-out holes along the NE corridor are planned while drilling at the Lynx deposit continues to infill the known zones and to test the continuity and extent of the Lynx deposit towards the northeast.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of the Windfall Lake gold project, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario, or Bureau Veritas in Timmins, Ontario, using the same protocols. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by the previous operator comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project, including the potential extension of the Lynx deposit corridor; the significance of assay results presented in this news release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, and expansion/definition drilling in the adjacent Lynx deposit located immediately to the northeast of Windfall); the extension of the Lynx deposit by drilling to currently over 1.6 kilometres in length; the significance, if any, of the recently defined “Bank Fault”; the number of drills active on the Lynx discovery and Windfall deposit; the potential emergence of a new high-grade deposit within the Windfall project; potential mineralization, including Windfall and Lynx being intrusive-related gold deposits with a proximal relationship to the “Bank Fault”; the timing and ability, if at all, to prepare a new resource estimate for Windfall by the end of 2017; the prospectivity of the main deposit area; the regional significance, if any, of the “Bank Fault”; the significance, if any, of the visible gold observed to date in the Windfall (including Lynx) area; the continuity of mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 24.9 g/t Au Over 31 Metres At Windfall
Wide Zone of High Grade Mineralization Intercepted in Deep Underdog Zone
(Toronto, July 19, 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, and expansion/definition drilling in the Lynx deposit located immediately to the NE of Windfall. Significant new assays from twenty-eight intercepts in thirteen drill holes focused on infill and expansion drilling in the Underdog Zone of the Windfall deposit are reported in the table below.
Highlights from the new results include: 24.9 g/t Au over 31.0 metres (16.4 g/t Au over 31.0 metres cut) and 5.3 g/t Au over 22.0 metres from DDH OSK-W-17-821-W1; 56.9 g/t Au over 2.8 metres (35.5 g/t Au over 2.8 metres cut) in DDH OSK-W-17-844; and 21.6 g/t Au over 3.2 metres from DDH OSK-W-17-820-W1. Maps with hole locations and full analytical results are available at www.osiskomining.com.
Hole Number | From (m) |
To (m) |
Interval (m) |
Au (g/t) uncut |
Au (g/t) cut to 100 g/t |
Zone |
OSK-OBM-16-609 | 635.0 | 637.0 | 2.0 | 3.07 | FW3U HW | |
OSK-W-17-789-W1 | 1119.8 | 1122.0 | 2.2 | 16.4 | Z14-2 | |
Including | 1120.4 | 1121.2 | 0.8 | 44.1 | ||
OSK-W-17-789-W2 | 801.0 | 803.0 | 2.0 | 13.2 | New | |
1152.1 | 1155.2 | 3.1 | 25.6 | Z14-2 | ||
Including | 1152.1 | 1152.7 | 0.6 | 44.0 | ||
Including | 1154.5 | 1155.2 | 0.7 | 67.9 | ||
1163.0 | 1165.7 | 2.7 | 5.62 | Z14-2 | ||
OSK-W-17-820 | 976.3 | 982.6 | 6.3 | 5.79 | FW0 FW | |
Including | 982.1 | 982.6 | 0.5 | 28.7 | ||
OSK-W-17-820-W1 | 876.1 | 881.3 | 5.2 | 3.25 | FW0 | |
981.8 | 985.0 | 3.2 | 21.6 | FW0 FW | ||
Including | 981.8 | 983.4 | 1.6 | 40.4 | ||
OSK-W-17-821-W1 | 865.0 | 867.0 | 2.0 | 7.31 | FW0 HW | |
Including | 865.7 | 866.0 | 0.3 | 44.3 | ||
1110.0 | 1141.0 | 31.0 | 24.9 | 16.4 | FW1 | |
1144.0 | 1150.0 | 6.0 | 10.5 | FW1 | ||
1158.0 | 1180.0 | 22.0 | 5.33 | FW1 | ||
Including | 1175.6 | 1176.3 | 0.7 | 29.3 | ||
Including | 1178.0 | 1179.0 | 1.0 | 19.5 | ||
1192.0 | 1194.0 | 2.0 | 3.35 | FW1 | ||
1202.8 | 1207.0 | 4.2 | 5.65 | FW1 FW | ||
Including | 1202.8 | 1203.1 | 0.3 | 48.0 | ||
1219.4 | 1223.0 | 3.6 | 15.4 | New | ||
Including | 1222.2 | 1223.0 | 0.8 | 40.8 | ||
1278.0 | 1285.0 | 7.0 | 3.84 | New | ||
Including | 1278.0 | 1279.0 | 1.0 | 9.58 | ||
Including | 1284.0 | 1285.0 | 1.0 | 9.62 | ||
OSK-W-17-826 | 1204.0 | 1206.2 | 2.2 | 9.26 | Z14-2 | |
Including | 1205.6 | 1206.2 | 0.6 | 24.7 | ||
1246.8 | 1250.0 | 3.2 | 4.61 | Z14 HW | ||
1298.0 | 1300.2 | 2.2 | 4.67 | Z14 | ||
1308.3 | 1310.6 | 2.3 | 3.37 | Z14 FW | ||
Including | 1309.0 | 1309.6 | 0.6 | 12.4 | ||
OSK-W-17-830 | 670.5 | 673.5 | 3.0 | 3.59 | FW3U HW | |
OSK-W-17-833 | 1086.0 | 1088.5 | 2.5 | 8.94 | Z14 | |
1125.0 | 1127.4 | 2.4 | 8.97 | Z14 FW | ||
Including | 1125.0 | 1126.1 | 1.1 | 17.1 | ||
OSK-W-17-833-W1 | 853.7 | 857.7 | 4.0 | 11.8 | FW1 HW | |
862.0 | 864 | 2.0 | 5.79 | New | ||
OSK-W-17-842 | 923.7 | 925.8 | 2.1 | 4.01 | FW1 | |
OSK-W-17-844 | 954.8 | 957.6 | 2.8 | 56.9 | 35.5 | FW3 |
including | 957.1 | 957.6 | 0.5 | 220 | 100 | |
OSK-W-17-854-W1 | 800.5 | 803.3 | 2.8 | 4.65 | FW3U |
Notes:
- True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
- Definitions: FW = foot wall; HW = hanging wall.
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Section |
OSK-OBM-16-609 |
331 | -49 | 738 | 452459 | 5434642 | 2550 |
OSK-W-17-789-W1 |
333 | -59 | 1199 | 452546 | 5434390 | 2525 |
OSK-W-17-789-W2 |
333 | -59 | 1196 | 452546 | 5434388 | 2525 |
OSK-W-17-820 |
332 | -66 | 1106 | 452669 | 5434484 | 2675 |
OSK-W-17-820-W1 |
332 | -66 | 1358 | 452669 | 5434484 | 2675 |
OSK-W-17-821-W1 |
334 | -66 | 1416 | 452738 | 5434475 | 2725 |
OSK-W-17-826 |
330 | -67 | 1335 | 452799 | 5434556 | 2825 |
OSK-W-17-830 |
329 | -55 | 819 | 452487 | 5434622 | 2575 |
OSK-W-17-833 |
330 | -58 | 1149 | 452597 | 5434395 | 2550 |
OSK-W-17-833-W1 |
330 | -58 | 1173 | 452597 | 5434395 | 2550 |
OSK-W-17-842 |
330 | -60 | 948 | 452509 | 5434390 | 2475 |
OSK-W-17-844 |
333 | -57 | 1092 | 452727 | 5434546 | 2750 |
OSK-W-17-854-W1 |
330 | -53 | 844 | 452483 | 5434596 | 2550 |
OSK-OBM-16-609 returned 3.07 g/t Au over 2.0 metres. Mineralization consists of 1 to 10% disseminated pyrite, 1 to 10% pyrite tourmaline stringers and local semi-massive (5 to 15 cm) pyritic bands. The host unit is highly foliated and altered (sericite and bleached). This interval is within the FW3 Zone.
OSK-W-17-789-W1 intercepted 16.4 g/t Au over 2.2 metres (including 44.1 g/t Au over 0.8 metres). Mineralization contains 3% of disseminated pyrite, 10% of pyrite-tourmaline stringers (locally semi-massive) with local visible gold. The host rock is a silica altered fragmental felsic intrusion with small quartz eyes and a tourmaline pegmatitic vein (1.2 cm diameter). This intersect corresponds to the footwall of the FW3 Zone and is located 60 metres above OSK-W-17-789-W2 (25.6 g/t Au over 3.1 metres, this press release).
OSK-W-17-789-W2 intersected three zones of mineralization. The first returned 13.2 g/t Au over 2.0 metres hosted in felsic intrusion with small quartz eyes, 2% disseminated pyrite, 1% pyrite-tourmaline stringers and 4% pyrite-chlorite stringers. The second interval returned 25.6 g/t Au over 3.1 metres (including 44.0 g/t Au over 0.6 metres and 67.9 g/t Au over 0.7 metres) within the FW3U FW Zone. Mineralization contains up to 15% pyrite-tourmaline stringers and local visible gold associated with the outer limits of the stringers in a smokey quartz vein. The host rock consists of large quartz eye fragmental porphyritic dikes with silica and sericite. The third zone returned 5.62 g/t Au over 2.7 metres within the FW3 FW Zone. Mineralization includes 2% pyrite-stringers 2% disseminated pyrite at a silica, chlorite and sericite altered contact between a fragmental intrusion and a fragmental porphyritic intrusion, situated in the footwall of the FW3 Zone and located 60 metres below OSK-W-17-789-W1 (16.4 g/t Au over 2.2 metres, this press release).
OSK-W-17-820 returned 5.79 g/t Au over 6.3 metres (including 28.7 g/t Au over 0.5 metres) within the FW0 FW Zone between FW0 and FW1. Mineralization consists of 2% pyrite-tourmaline stringers with local visible gold, 2 to 3% disseminated and clusters of pyrite (up to 20% locally). The host rocks consists of fragmental porphyritic dikes with silica and sericite alteration. These intercepts are located 80 metres southwest of OSK-W-17-821 (5.25 g/t Au over 2.2 metres, previously released June 7, 2017), 50 metres south of OSK-W-17-820-W1 (21.6 g/t Au over 3.2 metres, this press release) and 75 metres north of OSK-W-16-754 (4.94 g/t Au over 3.0 metres, previously released January 23, 2017).
OSK-W-17-820-W1 returned two intersections: 3.25 g/t Au over 5.2 metres and 21.6 g/t Au over 3.2 metres (including 40.4 g/t Au over 1.6 metres). Mineralization consists of 5% pyrite stringers (1-10mm), up to 10% of disseminated pyrite, 1% chalcopyrite in 1 mm veinlets, with disseminated tourmaline and presence of gray quartz veinlets. The host rock is a small quartz eyes fragmental felsic intrusion strongly altered in sericite and silica. The interval is within the footwall of FW0 area, between FW0 and FW1, infills the FW0 Zone 50 metres northeast of OBM-15-564 (7.49 g/t Au over 7.0 metres, previously released February 29, 2016).
OSK-W-17-821-W1 intercepted multiple mineralized intervals. The first returned 7.31 g/t Au over 2.0 metres (including 44.3 g/t Au over 0.3 metres) within the hanging wall of the FW0 Zone. Mineralization consists of pyrite stringers and local visible gold. The host rock is a weakly bleached porphyritic felsic volcanic unit. Six mineralized intercepts over a 100 metre section of the FW1 Zone returned: 24.9 g/t Au over 31 metres (including 145 g/t Au over 1.0 metre and 319 g/t Au over 1.0 metre), 10.5 g/t Au over 6.0 metres, 5.33 g/t Au over 22.0 metres (including 29.3 g/t over 0.7 metre and 19.5 g/t Au over 1.0 metre), 3.35 g/t Au over 2.0 metres, 5.65 g/t Au over 4.2 metres and 15.4 g/t Au over 3.6 metres (including 40.8 g/t Au over 0.8 metres). The mineralization occurs as traces to 5% pyrite-tourmaline stringers with local trace chalcopyrite, and traces to 15% of pyrite-tourmaline stringers. The pyrite-tourmaline stringers show strong silicified halos hosted in large quartz eye porphyritic intrusion with sericite alteration. The last interval returned 3.84 g/t Au over 7.0 metres and consists of 2-3% pyrite-tourmaline stringers with strong silicified halos hosted in a large quartz eye porphyry dike.
OSK-W-17-826 returned four intersections: 9.26 g/t Au over 2.2 metres (including 24.7 g/t Au over 0.6 metres), 4.61 g/t Au over 3.2 metres, 4.67 g/t Au over 2.2 metres, 3.37 g/t Au over 2.3 metres (including 12.4 g/t Au over 0.6 metres). Mineralization consists of trace to 3% pyrite stringers and local visible gold, up to 50% semi-massive pyrite, 1% disseminated pyrite and trace to 1% chalcopyrite. The host rock is a fragmental felsic intrusion strongly altered with sericite, silica and chlorite. The intercept is located within the FW3 Zone, approximately 45 metres northeast of OSK-W-17-780 (34.1 g/t Au over 4.0 metres and 9.38 g/t Au over 4.0 metres, previously released April 6, 2017).
OSK-W-17-830 returned 3.59 g/t Au over 3.0 metres. Mineralization contains traces of pyrite stringers and disseminated pyrite in felsic porphyritic dykes with trace to abundant large quartz eyes, located in the FW3U HW Zone.
OSK-W-17-833 returned two intersections: 8.94 g/t Au over 2.5 metres and 8.97 Au over 2.4 metres (including 17.1 g/t Au over 1.1 metres) within the FW3 Zone. Mineralization consists of 15 to 20% of semi-massive pyrite within a quartz-tourmaline vein with local visible gold, 5 to 7% pyrite stringers. The host rock is a small quartz eye porphyritic fragmental felsic intrusion with strong silica and weakly to moderate sericite.
OSK-W-17-833-W1 returned two intersections: 11.8 g/t Au over 4.0 metres and 5.79 Au over 2.0 metres within a fragmental felsic porphyry dike. Mineralization is composed of 3% pyrite stringers and trace of chalcopyrite and strong silica alteration. These intercepts extend the FW1 Zone 60 metres below previously reported EAG-12-320 (6.00 g/t Au over 13.3 metres).
OSK-W-17-842 returned 4.01 g/t Au over 2.1 metres. Mineralization consists of 2% pyrite stringers and disseminated pyrite located at the altered contact (sericite, chlorite and bleached) between the highly porphyritic felsic intrusion and the fragmental intrusion. This interval is within the FW1 Zone.
OSK-W-17-844 intersected 56.9 g/t Au over 2.8 metres (including 220 g/t Au over 0.5 metres). Mineralization consists of 5% pyrite stringers with trace chalcopyrite and local visible gold, 5% disseminated pyrite, hosted in an intensely silicified intermediate volcanic unit. This interval is within the FW3 Zone.
OSK-W-17-854-W1 returned 4.65 g/t Au over 2.8 metres in a bleached and carbonate altered gabbro. Mineralization comprises 5 to 10% disseminated pyrite and 1% pyrite stringers, and two crustiform veins with 5% pyrite.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of the Windfall Lake gold project, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 12.5 g/t Au Over 8.5 Metres At Windfall
12.4 g/t Au Over 5.0 Metres at Lynx
(Toronto, June 7, 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area. Significant new assay results from fifteen intercepts in eleven drill holes focused on infill and expansion drilling in the high-grade Lynx discovery and the main Windfall deposit are reported in the table below.
Highlights from the new results include: 12.5 g/t Au over 8.5 metres in DDH OSK-OBM-16-667 in the Underdog Corridor and 12.4 g/t Au over 5.0 metres in DDH OSK-W-17-805 in Lynx 2 and 15.9 g/t Au over 3.0 metres in DDH OSK-EAG-13-504 in a new extension of the Wolf Zone in the Caribou Corridor. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole No.
|
From (m)
|
To
(m) |
Interval (m)
|
Au (g/t) uncut
|
Au (g/t)
cut to 100 g/t |
Zone
|
Corridor
|
OSK-W-17-805
|
225.5
|
230.5
|
5.0
|
12.4
|
|
Lynx 2
|
Lynx
|
including
|
227.4
|
230.5
|
3.1
|
17.7
|
|
||
including
|
230.0
|
230.5
|
0.5
|
64.6
|
|
||
OSK-W-17-816
|
192.5
|
194.5
|
2.0
|
9.46
|
|
Lynx 1 HW
|
Lynx
|
including
|
192.5
|
193.5
|
1.0
|
18.7
|
|
||
OSK-W-17-827
|
160.0
|
162.1
|
2.1
|
22.5
|
|
Lynx 3
|
Lynx
|
including
|
160.0
|
161.5
|
1.5
|
30.0
|
|
||
OSK-W-17-837
|
343.7
|
346.6
|
2.9
|
15.6
|
|
VNCR
|
Lynx
|
OSK-W-17-839
|
310.0
|
312.1
|
2.1
|
10.5
|
|
Lynx HW
|
Lynx
|
including
|
310.8
|
311.7
|
0.9
|
17.9
|
|
||
OSK-EAG-13-504
|
746.9
|
749.9
|
3.0
|
15.9
|
|
Wolf
|
Caribou
|
753.0
|
755.1
|
2.1
|
4.22
|
|
|||
OSK-OBM-16-667
|
660.5
|
669.0
|
8.5
|
12.5
|
|
FW3
|
Underdog
|
including
|
663.0
|
665.0
|
2.0
|
37.4
|
|
||
including
|
663.0
|
664.2
|
1.2
|
50.1
|
|
||
OSK-W-17-789-W2
|
882.0
|
884.3
|
2.3
|
5.00
|
|
FW1
|
Underdog
|
|
906.5
|
909.2
|
2.7
|
4.79
|
|
FW1 FW
|
|
|
1014.0
|
1017.0
|
3.0
|
8.03
|
|
Z2
|
|
OSK-W-17-807-W2
|
1070.5
|
1072.5
|
2.0
|
4.29
|
|
Underdog
|
Underdog
|
including
|
1070.5
|
1071.5
|
1.0
|
8.20
|
|
||
OSK-W-17-821
|
975.1
|
977.3
|
2.2
|
5.25
|
|
FW0 FW
|
Underdog
|
including
|
976.1
|
976.7
|
0.6
|
15.4
|
|
||
OSK-W-17-826
|
937.0
|
939.0
|
2.0
|
3.79
|
|
FW0
|
Underdog
|
1316.6
|
1319.0
|
2.4
|
16.0
|
|
Z14 FW
|
||
including
|
1317.2
|
1319.0
|
1.8
|
21.3
|
|
Notes:
- True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
- Definitions: FW = foot wall; HW = hanging wall and VNCR = crustiform vein.
Hole Number
|
Azimuth (°)
|
Dip (°)
|
Length (m)
|
UTM E
|
UTM N
|
Section
|
OSK-OBM-16-667
|
330
|
-55
|
852
|
452410
|
5434597
|
2500
|
OSK-W-17-789-W2
|
332
|
-59
|
1195.5
|
452546
|
5434388
|
2525
|
OSK-W-17-805
|
332
|
-56
|
322.5
|
453200
|
5434910
|
3350
|
OSK-W-17-807-W2
|
320
|
-58
|
1156.5
|
452306
|
5434421
|
2325
|
OSK-W-17-816
|
147
|
-69
|
1051.5
|
453470
|
5435215
|
3725
|
OSK-W-17-821
|
334
|
-66
|
1258.6
|
452738
|
5434475
|
2700
|
OSK-W-17-826
|
330
|
-67
|
1335
|
452799
|
5434556
|
2825
|
OSK-W-17-827
|
145
|
-63
|
957
|
453173
|
5435126
|
3525
|
OSK-W-17-837
|
332
|
-75
|
465
|
453483
|
5435060
|
3925
|
OSK-W-17-839
|
331
|
-56
|
449.2
|
453431
|
5434888
|
3525
|
OSK-EAG-13-504
|
331
|
-62
|
810
|
452769
|
5434575
|
2800
|
Lynx Corridor
OSK-W-17-805 returned 12.4 g/t Au over 5.0 metres (including 17.7 g/t Au over 3.1 metres and 64.6 g/t Au over 0.5 metre). Mineralization is associated with 5 to 10% quartz-carbonate veins (locally crustiform) and consists of trace to 1% disseminated pyrite, trace to 1% pyrite within pyrite-tourmaline stringers, and trace to 1% pyrite associated with quartz-carbonate veins. Local visible gold was observed in quartz-carbonates veins with 5 to 20% pyrite (+/- tourmaline). The host rock is a sericitized and silicified rhyolite. The intersection represents the Lynx 2 Zone, extending it 130 metres below and 30 metres west of previously released OSK-W-16-761 (71.3 g/t Au over 2.3 metres).
OSK-W-17-816 returned 9.46 g/t Au over 2.0 metres (including 18.7 g/t Au over 1.0 metre). Mineralization consists of trace to 2% pyrite with disseminated tourmaline and occurs at a moderately sericitized contact between a small quartz porphyritic intrusive with a felsic volcanic unit. This interval extends the Lynx 1 HW Zone 75 metres northeast of OSK-W-17-837 (43.9 g/t Au over 3.4 metres previously released May 24, 2017).
OSK-W-17-827 returned 22.5 g/t Au over 2.1 metres (including 30.0 g/t Au over 1.5 metres) in the Lynx 3 Zone. Mineralization consists of trace to 3% pyrite disseminated within a fragmental felsic intrusive with local silica flooding.
OSK-W-17-837 returned 15.6 g/t Au over 2.9 metres. Mineralization consists of 2 to 5% disseminated to massive pyrite within 50% veins and veinlets (quartz-tourmaline and quartz-carbonate) which crosscut a strongly altered gabbro. This interval is located within the Lynx Corridor, 50 metres below OSK-W-17-799 (11.0 g/t Au over 6.5 metres previously released April 5, 2017).
OSK-W-17-839 returned 10.5 g/t Au over 2.1 metres (including 17.9 g/t Au over 0.9 metres). Mineralization consists of 8 to 10 % disseminated pyrite, 5% pyrite stringers and 1 to 2% ptygmatic quartz-tourmaline veins, located within the hanging wall of Lynx 1 Zone, 16 metres below OSK-W-17-825 (5.27 g/t Au over 2.7 metres previously released May 24, 2017).
Underdog Corridor
OSK-OBM-16-667 is an extension of previously drilled hole OBM-16-667, intersecting the FW3U Zone. The hole returned 12.5 g/t Au over 8.5 metres (including 37.4 g/t Au over 2.0 metres and 50.1 g/t Au over 1.2 metres). Mineralization consists of 3 to 7% pyrite stringers and 3 to 5% disseminated pyrite associated with rhyolite cut by crustiform veins and patches of silica flooding. Mineralization remains open in the hanging-wall of FW3U and is interpreted to represent new mineralization in the increasingly large FW3 corridor. This new intercept is located 120 metres southwest of OSK-W-16-704-W1 (15.5 g/t Au over 2.9 metres previously released October 25, 2016).
OSK-W-17-789-W2 returned two intersections in the FW1 Zone: 5.00 g/t Au over 2.3 metres and 4.79 g/t Au over 2.7 metres, infilling the zone 40 metres to the southeast of OSK-W-17-789 (16.4 g/t Au over 7.9 metres previously released April 11, 2017). The FW3 intersection returned 8.03 g/t Au over 3.0 metres, located 30 meters east of previously released OSK-W-17-789-W1 (14.6 g/t Au over 2.6 metres). Mineralization consists of trace to 10% pyrite-tourmaline stringers, 2 to 3% disseminated pyrite and occurs in felsic porphyry with large quartz eyes.
OSK-W-17-807-W2 intersected 4.29 g/t Au over 2.0 metres (including 8.20 g/t Au over 1.0 metre) between Zones FW3 and FW4. Mineralization consists of up to 10% pyrite-tourmaline stringers with 1% chalcopyrite hosted in an altered felsic intrusive dike. This intersection is located 40 metres west of OSK-W-16-311-W2 (5.21 g/t Au over 2.7 metres previously released November 8, 2016).
OSK-W-17-821 returned 5.25 g/t Au over 2.2 metres (including 15.4 g/t Au over 0.6 metres). Mineralization consists of 10 to 15% pyrite-tourmaline stringers or irregular clusters with a low core angle and a strong silicified halo. The host rock is a moderate to strongly altered fragmental porphyry dike.
OSK-W-17-826 returned two intersections: 3.79 g/t over 2.0 metres and 16.0 g/t Au over 2.4 metres (including 21.3 g/t Au over 1.8 metres). These mineralized intervals contain up to 5% disseminated pyrite and 5 to 10% pyrite in stringers and are hosted in a strongly bleached and sericitized andesite. The first intercept extends the FW0 Zone 40 metres to the northeast of OBM-16-614 (11.2 g/t Au over 3.4 metres previously released April 14, 2017). The second intercept is an extension of FW3 Zone.
Caribou Corridor
OSK-EAG-13-504 intersected the Wolf Zone returning 15.9 g/t over 3.0 metres (and 4.22 g/t Au over 2.1 metres). Mineralization comprises 10 to 15% pyrite-tourmaline stringers within a small quartz eye porphyritic intrusive. This intersection is located 25 metres northeast of OBM-15-559 (7.00 g/t Au over 10.0 metres, previously released January 14, 2017).
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of the Windfall Lake gold project, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry and Quévillon areas(over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property. The Corporation also holds interests and options in a number of additional properties in northern Ontario and Québec. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 11.7 g/t Au Over 7.7 Metres In New Lynx 4 Discovery
Bonanza Grade Intercept of 421 g/t Au over 3.7 Metres in Lynx 2
(Montréal, May 10, 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area. Significant new analytical results from five drill holes focused on infill and expansion drilling in the Lynx Corridor are reported in the table below.
Highlights from the new results include: 421 g/t Au over 3.7 metres, including 3.74 kilograms/t Au over 0.4 metres containing spectacular visible gold (27.8 g/t Au over 3.7 metres cut to 100g/t) in DDH OSK-W-17-834; 11.7 g/t Au over 7.7 metres in Lynx 4 discovery DDH OSK-17-816; and 10.4 g/t Au over 4.9 metres in DDH OSK-17-802. Maps showing drill hole locations and full analytical results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) |
Au (g/t) uncut |
Au (g/t) cut to 100 g/t |
Zone | Corridor |
OSK-W-17-802 | 293.1 | 298.0 | 4.9 | 10.4 | Lynx 2 | Lynx | |
including | 297.0 | 298.0 | 1.0 | 37.5 | |||
OSK-W-17-806 | 214.6 | 217.5 | 2.9 | 3.13 | Lynx 2 | Lynx | |
including | 214.6 | 215.5 | 0.9 | 8.24 | |||
OSK-W-17-816 | 797.1 | 804.8 | 7.7 | 11.7 | Lynx 4 | Lynx | |
including | 799.3 | 800.0 | 0.8 | 68.3 | |||
including | 804.5 | 804.8 | 0.3 | 85.9 | |||
OSK-W-17-825 | 267.9 | 270.7 | 2.8 | 6.71 | Lynx 1 | Lynx | |
including | 268.9 | 269.6 | 0.7 | 21.6 | |||
OSK-W-17-834 | 292.0 | 295.7 | 3.7 | 421 | 27.8 | Lynx 2 | Lynx |
including | 293.1 | 293.5 | 0.4 | 3740 | 100 |
Notes: True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
Hole Number | Azimuth (°) |
Dip (°) |
Length (m) |
UTM E | UTM N | Section |
OSK-W-17-802 | 330 | -54 | 400.5 | 453376 | 5434896 | 3475 |
OSK-W-17-806 | 331 | -60 | 388.5 | 453261 | 5434949 | 3400 |
OSK-W-17-816 | 147 | -69 | 1051.5 | 453470 | 5435215 | 3725 |
OSK-W-17-825 | 145 | -54 | 579 | 453252 | 5435182 | 3525 |
OSK-W-17-834 | 144 | -59 | 402 | 453247 | 5435189 | 3525 |
OSK-W-17-802 returned 10.4 g/t Au over 4.9 metres including 37.5 g/t Au over 1.0 metre from crustiform veins cross-cutting the Lynx 2 Zone. Mineralization is composed of up to 5% disseminated pyrite, 3% pyrite stringers and up to 2% sphalerite associated to strong grey silica alteration. Visible gold is hosted in a quartz tourmaline vein in the felsic volcanic package. This hole is a 25 metre step-out eastward of drill holes OSK-W-17-825 and OSK-W-17-834 described below.
OSK-W-17-806 intersected Lynx 2 in a strongly sericitized and silicified felsic volcanic. The intercept averaged 3.13 g/t Au over 3.9 metres (including 8.24 g/t Au over 0.9 metres). Mineralization is composed of 3% pyrite stringers. This intercept is located 60 metres under drill hole OSK-W-16-755, which returned 8.12 g/t Au over 2.0 metres (previously released January 11, 2017).
OSK-W-17-816 intersected a new zone averaging 11.7 g/t Au over 7.7 metres including 85.9 g/t Au over 0.3 metres (the “Lynx 4” Zone). Lynx 4 is 170 metres south of Lynx 1. Mineralization consists of up to 15% pyrite, disseminated and stringers, with visible gold grains associated with pyrite clusters.
OSK-W-17-825 intersected 6.71 g/t Au over 2.8 metres (including 21.6 g/t Au over 0.7 metres) in Lynx 1. Mineralization is composed of 8% pyrite at the contact between a fragmental porphyry dike and a strongly silicified rhyolite. This hole is an infill between OSK-W-16-760 (93.3 g/t Au over 9.0 metres uncut) and OSK-W-17-788 (17.0 g/t Au over 12.3 metres) previously released January 11 and April 5, 2017 respectively.
OSK-W-17-834 returned of 421 g/t Au over 3.7 metres (27.8 g/t Au over 3.7 metres cut), including 3.74 kilograms/t Au over 0.4 metres (uncut) in Lynx 2. The intercept contains local spectacular visible gold as patches and fracture fillings in smoky quartz-tourmaline veins hosted in a strongly sericitized and grey silicified rhyolite. This intercept is located 50 metres under OSK-16-760 which returned 95.3 g/t Au over 9.0 metres (previously released January 11, 2017).
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of the Windfall Lake gold project, who is a “Qualified Person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; new analytics from the four drill holes focused on the Lynx Zone discovery; the significance of assay results presented in this press release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization, including the recently discovered Lynx and Lynx 4 Zone; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities, including the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653
Osisko Intersects 936 g/t Au Over 2.5 Metres At Windfall
Hole Number | Azimuth (°) |
Dip (°) |
Length (m) |
UTM E | UTM N | Section |
OSK-W-17-807 | 329.7 | -65.2 | 1171.5 | 452311 | 5434424 | 2325 |
OSK-W-17-812 | 330.2 | -64.8 | 379.2 | 453461 | 5435034 | 3625 |
OSK-W-17-816 | 147.1 | -69.1 | 1051.5 | 453469.6 | 5435215.2 | 3722 |
OSK-W-17-817 | 144.7 | -60.4 | 821.8 | 453334 | 5435231.2 | 3609 |
OSK-W-17-820 | 333 | -65.2 | 1105.5 | 452669 | 5434484 | 2667 |
OSK-W-17-824 | 330.2 | -67.2 | 220.0 | 451948 | 5434608 | 2099 |
OSK-W-17-827 | 144.9 | -63.2 | 957.0 | 453173 | 5435126 | 3418 |
OSK-W-17-832 | 145.5 | -54.5 | 573.0 | 453332 | 5435229 | 3609 |
Osisko Intersects 35.2 g/t Au Over 2.8 Metres At Windfall
New High Grade Intercepts in Lynx Discovery
(Montréal, April 25, 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current 400,000 metres drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area. Significant new analytical results from eight drill holes focused on infill and expansion drilling in the Lynx discovery as well as the Caribou, Underdog and the 27 zones are reported in the table below.
Highlights from the new results include: 35.2 g/t Au over 2.8 metres in hole OSK-W-17-800; 10.5 g/t Au over 8.6 metres in hole OSK-W-17-790; 18.6 g/t Au over 4.1 metres in hole OSK-W-17-812 and 11.0 g/t Au over 3.5 metres in hole OSK-W-17-89-W1. Maps showing drill hole locations and full analytical results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-17-790 | 293.0 | 295.0 | 2.0 | 8.61 | Lynx 2 | Lynx | |
303.8 | 308.8 | 5.0 | 6.00 | Lynx 2 | Lynx | ||
316.9 | 325.5 | 8.6 | 10.5 | 10.3 | Lynx 2 | Lynx | |
including | 324.8 | 325.5 | 0.7 | 102 | 100 | ||
392.5 | 394.7 | 2.2 | 10.9 | VNCR | Lynx | ||
OSK-W-17-800 | 193.6 | 196.0 | 2.4 | 16.5 | Lynx 1 | Lynx | |
including | 194.1 | 195.0 | 0.9 | 40.4 | |||
306.0 | 308.8 | 2.8 | 35.2 | 25.4 | VNCR | Lynx | |
including | 306.5 | 307.2 | 0.7 | 139 | 100 | ||
OSK-W-17-811 | 152.5 | 156.0 | 3.5 | 3.01 | Lynx 1 | Lynx | |
OSK-W-17-812 | 304.8 | 308.9 | 4.1 | 18.6 | 12.5 | Lynx 2 | Lynx |
including | 304.8 | 305.1 | 0.3 | 59.7 | |||
including | 307.3 | 307.6 | 0.3 | 184 | 100 | ||
OSK-W-17-804 | 83.9 | 86.6 | 2.7 | 3.65 | 27 | Zone 27 | |
including | 86.3 | 86.6 | 0.3 | 27.4 | |||
OSK-W-17-810 | 93.1 | 98.0 | 4.9 | 7.25 | HW | Zone 27 | |
including | 93.8 | 95.7 | 1.9 | 16.4 | |||
108.7 | 111.0 | 2.3 | 6.54 | 27 | Zone 27 | ||
including | 109.2 | 110.2 | 1.0 | 14.9 | |||
OSK-W-17-789 | 964.0 | 966.3 | 2.3 | 8.20 | FW3 | Underdog | |
including | 965.0 | 965.3 | 0.3 | 61.7 | |||
OSK-W-17-789-W1 | 799.5 | 804.4 | 4.9 | 5.63 | FW0 | Underdog | |
including | 801.9 | 802.5 | 0.6 | 20.4 | |||
877.1 | 880.6 | 3.5 | 11.0 | Underdog |
Notes:
- True Widths for Caribou and Underdog Corridors are estimated at 65 – 80% of the reported core length interval. True widths in the Lynx Zone are yet to be determined. See “Quality Control” below.
- Definitions: HW = hanging wall; VNCR = crustiform vein.
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Section |
OSK-W-17-789 | 331 | -58 | 1279.5 | 452546 | 5434390 | 2500 |
OSK-W-17-789-W1 | 331 | -58 | 1198.5 | 452546 | 5434390 | 2500 |
OSK-W-17-790 | 332 | -64 | 451.5 | 453456 | 5434998 | 3600 |
OSK-W-17-800 | 330 | -58 | 415.5 | 453366 | 5434943 | 3500 |
OSK-W-17-804 | 343 | -43 | 201.0 | 451941 | 5434625 | 2100 |
OSK-W-17-810 | 335 | -59 | 225.0 | 451949 | 5434615 | 2100 |
OSK-W-17-811 | 150 | -75 | 433.5 | 453469 | 5435216 | 3725 |
OSK-W-17-812 | 330 | -65 | 379.2 | 453461 | 5435034 | 3625 |
Lynx Corridor
OSK-W-17-790 intersected Lynx 2 in three intervals approximately 40 metres above and 40 metres to the SW of previously reported OSK-W-17-799 (63.8 g/t Au over 4.4 metres). The first two intervals returned 4.62 g/t Au over 4.3 metres and 6.00 g/t Au over 5.0 metres respectively. Mineralization consists of silicified pyrite-rich bands hosted in a sericitized rhyolite. The third interval returned 10.52 g/t Au over 8.6 metres, including 102 g/t Au over 0.7 metres. Mineralization consists of 3-5% pyrite stringers. An interval containing crustiform veins was also intersected which returned 10.9 g/t Au over 2.2 metres in stringers containing up to 3% pyrite.
OSK-W-17-800 returned 16.5 g/t Au over 2.4 metres including 40.4 g/t Au over 0.9 metres from Lynx 1. Gold mineralization is associated with 5-7% pyrite stringers and strong silica flooding with local visible gold. This interval is located between two previously reported intersections, OSK-W-17-803 (19.1 g/t Au over 2.9 metres) 51 metres SW up plunge, and 60 metres down plunge NE of OSK-W-16-760 (95.3 g/t Au over 9.0 metres). A second intercept returned 35.2 g/t Au over 2.8 metres (25.4 g/t Au over 2.8 metres cut to 100 g/t) from a smoky quartz vein containing local visible gold. The vein is hosted in a tourmaline breccia containing 2-3% of pyrite stringers. This interval is located 48 metres to the NE of previously reported OSK-W-17-779 (21.6 g/t Au over 7.9 metres).
OSK-W-17-811 intersected shallow mineralization returning 3.01 g/t Au over 3.5 metres hosted in a brecciated rhyolite containing 4% of pyrite stringers. The interval is located in the extension of Lynx1, 125 metres above and 120 metres NE from OSK-W-17-790 (reported above).
OSK-W-17-812 intersected 18.6 g/t Au over 4.1 metres including 59.7 g/t Au over 0.3 metres and 184 g/t Au over 0.3 metres. The hole intersected moderately silicified porphyry containing 3-4% disseminated pyrite, with local visible gold observed in smoky quartz veins.
Zone 27 Corridor
OSK-W-17-804 returned 3.65 g/t Au over 2.7 metres including 27.4 g/t Au over 0.3 metres. Mineralization is associated with a sulfide vein containing 80% pyrite and local visible gold.
OSK-W-17-810 intersected two mineralized intercepts, one in the hanging wall of Zone 27 which returned 7.25 g/t Au over 4.9 metres, with 3% pyrite stringers; the second intercept returned 6.54 g/t Au over 2.3 metres including 14.9 g/t Au over 1 metre.
Underdog Corridor
OSK-W-17-789 intersected two zones, the first returning 3.01 g/t Au over 3.1 metres in FW0 with mineralization consisting of 2% of pyrite stringers associated with moderate silica and sericite alteration; the second intersection returning 8.20 g/t Au over 2.3 metres in FW3 from a quartz vein containing local visible gold hosted in a moderate to strongly bleached porphyry dike.
OSK-W-17-789-W1 intersected two zones of mineralization, the first returning 5.63 g/t Au over 4.9 metres and extending FW0 45 metres SW from previous intersection EAG-12-320 (7.3 g/t Au over 3.1 meters), with 2% pyrite stringers and 4% disseminated pyrite hosted in a moderately bleached fragmental dike; the second intersection returned 5.69 g/t Au over 8.20 metres from FW1 containing 5 – 25% pyrite stringers hosted in a silicified porphyry dike.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, P.Geo. (OGQ 800), Project Manager of Osisko at the Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determinations in the Caribou and Underdog zones are estimated at 65 – 80% true core lengths. True width determinations in the Lynx Zone have yet to be determined. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val dOr, Québec or Sudbury, Ontario. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.
About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-dOr and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake gold deposit located between Val-dOr and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), a 100% interest in the Marban project located in the heart of Québecs prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information in this news release about the Windfall Lake gold deposit being one of the highest grade resource-stage gold projects in Canada; the current 400,000 metre drill program at Red Dog; the significance of new results from the ongoing drill program at the Windfall Lake gold project; new analytics from the eight drill holes focused on infill and expansion drilling in the Lynx Zone discovery as well as the Caribou, Underdog and the 27 zones reported in this news release; the significance of assay results presented in this news release; the type of drilling included in the drill program (definition drilling above Red Dog, expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry project area); potential mineralization; the potential to extend mineralization up and down-plunge and at depth at the Windfall Lake gold deposit; the ability to realize upon any mineralization in a manner that is economic; the ability to complete any proposed exploration activities and the results of such activities; the continuity or extension of any mineralization; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “managements view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Corporation, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in managements geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653