OSISKO EXPANSION DRILLING ADDS NEW HIGH GRADE AT LYNX

177 g/t Au Over 3.0 Metres

(Toronto, March 17, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit. Significant new analytical results presented below include 66 intercepts in 22 drill holes (5 from surface, 17 from underground) and 21 wedges. The intercepts are located outside the February 2021 mineral resource estimate (“MRE”) (see Osisko news release dated February 17, 2021) and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s expansion results in Lynx and Triple Lynx continue to confirm the growth potential of these zones. The higher-grade intercept in OSK-W-20-2381-W1 extends Lynx 90 metres from the nearest MRE block and WST-20-0602 extends Triple Lynx 100 metres from the nearest MRE block”.

Selected high-grade intercepts include: 177 g/t Au over 3.0 metres and 66.6 g/t Au over 2.0 metres in OSK-W-20-2381-W1; 43.4 g/t Au over 5.3 metres in WST-20-0602; 56.4 g/t Au over 3.2 metres in WST-20-0603; 52.1 g/t Au over 3.4 metres in WST-20-0611; 70.2 g/t Au over 2.2 metres in OSK-W-20-2313-W7;  57.2 g/t Au over 2.1 metres in OSK-W-20-2391; and 25.1 g/t Au over 4.8 metres in OSK-W-20-2252-W8. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2170-W7 1029.6 1031.9 2.3 11.1   Triple Lynx Triple Lynx
including 1029.6 1030.0 0.4 59.7
OSK-W-20-2252-W10 1182.6 1184.8 2.2 3.89   Triple Lynx Triple Lynx
1190.2 1192.4 2.2 13.8   Triple Lynx Triple Lynx
including 1191.2 1192.1 0.9 31.3
1204.3 1206.3 2.0 4.22   Triple Lynx Triple Lynx
OSK-W-20-2252-W8 975.2 980.0 4.8 25.1 22.6 Triple Lynx Triple Lynx
including 976.5 977.7 1.2 85.8 75.6
OSK-W-20-2271-W2 1133.5 1135.5 2.0 3.64   Lynx 4 Lynx
including 1134.0 1134.5 0.5 14.5
OSK-W-20-2271-W5 1064.6 1067.4 2.8 4.74   Lynx 4 Lynx
including 1064.6 1065.0 0.4 13.1
OSK-W-20-2280-W7 977.0 981.8 4.8 7.78   Triple Lynx Triple Lynx
including 977.0 977.4 0.4 30.4
OSK-W-20-2283-W2 951.0 953.0 2.0 3.94   Triple Lynx Triple Lynx
OSK-W-20-2287 1245.0 1247.0 2.0 3.51   Lynx 4 Lynx
OSK-W-20-2292-W1 1131.8 1134.0 2.2 3.66   Triple Lynx Triple Lynx
including 1131.8 1132.1 0.3 23.5
OSK-W-20-2313-W7 993.0 995.2 2.2 70.2 14.4 Triple Lynx Triple Lynx
including 994.9 995.2 0.3 509 100
OSK-W-20-2313-W9 793.0 797.5 4.5 5.65   Triple Lynx Triple Lynx
including 796.5 797.5 1.0 13.4
OSK-W-20-2322-W1 1047.4 1049.7 2.3 3.69   Lynx 4 Lynx
including 1047.4 1048.0 0.6 13.7
OSK-W-20-2328 898.2 900.5 2.3 3.64   Lynx 4 Lynx
OSK-W-20-2363 578.0 582.0 4.0 6.19   Triple Lynx Triple Lynx
including 581.3 582.0 0.7 24.4
OSK-W-20-2363-W1 662.0 664.1 2.1 4.43   Triple Lynx Triple Lynx
OSK-W-20-2363-W2 751.0 753.5 2.5 5.90   Triple Lynx Triple Lynx
including 753.0 753.5 0.5 12.0
867.6 870.0 2.4 5.18   Triple Lynx Triple Lynx
including 867.6 868.0 0.4 27.7
887.0 889.0 2.0 3.75   Triple Lynx Triple Lynx
OSK-W-20-2363-W3 999.1 1001.6 2.5 4.52   Triple Lynx Triple Lynx
OSK-W-20-2371-W1 654.0 656.3 2.3 17.9   Triple Lynx Triple Lynx
including 655.2 655.8 0.6 60.8
717.0 719.0 2.0 5.97   Triple Lynx Triple Lynx
937.0 939.0 2.0 3.68   Triple Lynx Triple Lynx
including 938.1 938.4 0.3 20.4
977.5 980.9 3.4 10.8   Triple Lynx Triple Lynx
including 977.5 977.8 0.3 70.1
OSK-W-20-2371-W2 815.0 817.0 2.0 3.60   Triple Lynx Triple Lynx
1047.0 1049.0 2.0 4.04   Lynx 4 Lynx
including 1047.4 1048.1 0.7 11.4
OSK-W-20-2375-W3 918.0 920.0 2.0 3.86   Lynx 4 Lynx
OSK-W-20-2381-W1 1332.0 1335.0 3.0 177 38.2 Lynx 4 Lynx
including 1332.0 1333.0 1.0 515 100
1364.5 1366.5 2.0 66.6 26.6 Lynx 4 Lynx
including 1366.1 1366.5 0.4 300 100
OSK-W-20-2391 1183.3 1185.4 2.1 57.2 26.2 Triple Lynx Triple Lynx
including 1185.1 1185.4 0.3 317 100
1283.0 1285.1 2.1 9.73   Triple Lynx Triple Lynx
including 1283.7 1284.0 0.3 58.1
OSK-W-20-2391-W2 1380.0 1382.0 2.0 10.7   Triple Lynx Triple Lynx
including 1380.9 1381.2 0.3 65.3  
  1390.3 1394.7 4.4 21.2   Triple Lynx Triple Lynx
including 1392.8 1393.1 0.3 65.3  
and 1393.9 1394.7 0.8 58.0  
OSK-W-20-2394-W1 889.0 891.0 2.0 5.04   Triple Lynx Triple Lynx
OSK-W-20-2394-W3 1012.6 1015.0 2.4 33.5   Triple Lynx Triple Lynx
including 1013.2 1014.0 0.8 99.9
OSK-W-21-2445 445.0 447.0 2.0 10.3   Triple Lynx Triple Lynx
including 446.7 447.0 0.3 61.6
WST-20-0522 243.0 245.1 2.1 3.79   Lynx SW Lynx SW
WST-20-0523A 297.0 299.0 2.0 3.83   Lynx SW Lynx SW
WST-20-0524 238.7 241.0 2.3 3.60   Lynx SW Lynx SW
including 239.6 240.0 0.4 16.9
WST-20-0548A 271.4 273.6 2.2 3.60   Triple Lynx Triple Lynx
including 272.1 272.8 0.7 10.9
WST-20-0554 357.4 359.4 2.0 6.43   Triple Lynx Triple Lynx
424.0 426.2 2.2 3.77   Triple Lynx Triple Lynx
WST-20-0569 412.0 414.0 2.0 4.31   Lynx SW Lynx
including 412.4 412.7 0.3 27.6
WST-20-0570 323.0 325.0 2.0 3.85   Lynx SW Lynx SW
WST-20-0574 302.9 305.7 2.8 9.11   Lynx SW Lynx SW
  308.0 310.0 2.0 4.07   Lynx SW Lynx SW
  394.5 396.9 2.4 5.64   Lynx SW Lynx SW
  416.0 418.7 2.7 9.20   Lynx SW Lynx SW
including 418.4 418.7 0.3 78.9
510.8 513.0 2.2 4.58   Lynx SW Lynx SW
including 511.7 512.2 0.5 20.0
WST-20-0575 159.0 161.0 2.0 3.54   Triple Lynx Triple Lynx
WST-20-0602 397.1 400.4 3.3 9.53   Lynx SW Lynx SW
including 397.6 398.0 0.4 28.7
572.0 577.3 5.3 43.4 29.9 Lynx SW Lynx SW
including 572.0 573.0 1.0 172 100
WST-20-0603 250.5 253.7 3.2 56.4 34.3 Lynx SW Lynx SW
including 252.0 252.7 0.7 201 100
  257.8 260.0 2.2 5.07   Lynx SW Lynx SW
  278.0 280.0 2.0 28.0   Triple Lynx Triple Lynx
including 278.7 279.2 0.5 95.2
WST-20-0606A 248.5 250.5 2.0 5.41   Lynx SW Lynx SW
273.2 275.2 2.0 15.3   Lynx SW Lynx SW
including 273.7 274.0 0.3 37.3
329.0 331.0 2.0 4.41   Lynx SW Lynx SW
WST-20-0609 299.0 301.4 2.4 12.9   Lynx SW Lynx SW
including 300.9 301.4 0.5 57.0
326.7 329.0 2.3 4.77   Triple Lynx Triple Lynx
including 326.7 327.4 0.7 11.1
346.7 349.0 2.3 3.90   Lynx SW Lynx SW
including 346.7 347.2 0.5 17.4
WST-20-0611 289.0 292.4 3.4 52.1 27.0 Triple Lynx Triple Lynx
including 291.8 292.4 0.6 242 100
WST-20-0615 258.1 260.5 2.4 12.0   Lynx SW Lynx SW
WST-20-0626 451.7 453.8 2.1 4.51   Lynx SW Lynx SW
WST-20-0631 14.8 17.0 2.2 7.22   Lynx Lynx
including 14.8 15.6 0.8 19.7

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.

 

 

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2170-W7 128 -59 1205 453425 5435657 413 3900
OSK-W-20-2252-W10 129 -54 1226 453241 5435694 415 3750
OSK-W-20-2252-W8 129 -54 1239 453241 5435694 415 3750
OSK-W-20-2271-W2 120 -53 1223 453462 5435682 410 3950
OSK-W-20-2271-W5 120 -53 1247 453462 5435682 410 3950
OSK-W-20-2280-W7 127 -58 1131 453304 5435639 415 3775
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-20-2287 116 -53 1406 453607 5435714 404 4075
OSK-W-20-2292-W1 125 -54 1149 453035 5435561 420 3525
OSK-W-20-2313-W7 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2313-W9 134 -52 1218 452965 5435583 420 3450
OSK-W-20-2322-W1 130 -54 1233 453608 5435715 403 4075
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2363-W1 139 -52 1059 452930 5435548 419 3425
OSK-W-20-2363-W2 139 -52 1035 452930 5435548 419 3425
OSK-W-20-2363-W3 139 -52 1185 452930 5435548 419 3425
OSK-W-20-2371-W1 123 -53 1032 452996 5435364 412 3375
OSK-W-20-2371-W2 123 -53 1251 452996 5435364 412 3375
OSK-W-20-2375-W3 122 -56 1020 453810 5435779 400 4300
OSK-W-20-2381-W1 134 -53 1512 453620 5435791 402 4125
OSK-W-20-2391 117 -57 1629 453281 5435894 408 3900
OSK-W-20-2391-W2 117 -57 1888 453281 5435894 408 3900
OSK-W-20-2394-W1 138 -52 1065 452922 5435468 415 3375
OSK-W-20-2394-W3 138 -52 1020 452922 5435468 415 3375
OSK-W-21-2445 141 -50 945 452906 5435434 415 3325
WST-20-0522 177 -52 457 453104 5435064 231 3325
WST-20-0523A 165 -46 387 453104 5435065 231 3325
WST-20-0524 182 -44 243 453103 5435064 231 3325
WST-20-0548A 166 -60 370 453228 5435126 135 3475
WST-20-0554 148 -44 562 453257 5435209 96 3525
WST-20-0569 164 -59 526 453104 5435065 231 3325
WST-20-0570 159 -51 454 453104 5435065 231 3325
WST-20-0574 139 -63 523 452955 5435003 253 3175
WST-20-0575 280 -33 280 453413 5435309 69 3725
WST-20-0602 160 -62 651 453227 5435126 134 3475
WST-20-0603 161 -59 525 453227 5435125 134 3475
WST-20-0606A 141 -56 531 453105 5435065 231 3325
WST-20-0609 188 -56 461 453177 5435126 173 3425
WST-20-0611 118 -63 378 453358 5435273 16 3650
WST-20-0615 177 -58 519 453227 5435125 134 3475
WST-20-0626 194 -59 471 453176 5435125 173 3425
WST-20-0631 136 -3 166 453322 5435235 55 3600

Lynx Zone

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

 

Qualified Person

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

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (with an effective date of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO EXPANSION DRILLING ADDS NEW HIGH GRADE AT WINDFALL

58.7 g/t Au Over 4.6 Metres in Caribou

(Toronto, March 15, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 40 intercepts in 18 drill holes (15 from surface, 3 from underground) and 11 wedges. The intercepts are located outside the February 2021 mineral resource estimate (see Osisko news release dated February 17, 2021) and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Windfall continues to grow in scale across the deposit as demonstrated by today’s results in five different zones, all of which still remain open to growth.”

Selected intercepts include: 58.7 g/t Au over 4.6 metres in OSK-W-20-2421; 39.2 g/t Au over 2.5 metres in OSK-W-20-2399-W1; 36.8 g/t Au over 2.3 metres in OSK-W-20-2410-W1; 21.2 g/t Au over 3.6 metres in OSK-W-21-2467-W1; and 36.2 g/t Au over 2.0 metres in OSK-W-21-2462. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2354-W1 705.8 707.8 2.0 3.62   Caribou Caribou
including 706.6 707.1 0.5 12.5
OSK-W-20-2354-W2 633.5 638.1 4.6 8.60   Caribou Caribou
including 633.5 634.9 1.4 20.0
OSK-W-20-2354-W4 629.0 633.0 4.0 11.2   Caribou Caribou
including 629.0 630.0 1.0 34.8
OSK-W-20-2359 673.0 675.0 2.0 4.87   Caribou Caribou
OSK-W-20-2366 299.9 302.0 2.1 3.61   Caribou Caribou
OSK-W-20-2377-W1 889.5 895.5 6.0 7.36   Caribou Caribou
including 889.5 890.0 0.5 25.5
OSK-W-20-2387 575.5 577.5 2.0 4.70   Caribou Caribou
including 576.1 576.6 0.5 15.2
OSK-W-20-2387-W1 521.0 523.0 2.0 18.8   Caribou Caribou
including 521.8 523.0 1.2 29.7
OSK-W-20-2390 622.6 625.0 2.4 4.91   Caribou Caribou
including 623.8 624.5 0.7 14.7
OSK-W-20-2399-W1 621.5 624.0 2.5 39.2   Caribou Caribou
650.0 652.4 2.4 6.67   Caribou Caribou
including 651.0 651.4 0.4 36.5
OSK-W-20-2399-W2 580.0 582.4 2.4 3.83   Caribou Caribou
including 582.1 582.4 0.3 18.5
656.0 658.0 2.0 3.66   Caribou Caribou
OSK-W-20-2400 768.0 770.2 2.2 4.20   Caribou Caribou
OSK-W-20-2401 382.0 384.0 2.0 6.16   Caribou Caribou
including 382.0 383.0 1.0 11.8
OSK-W-20-2407-W1 686.0 688.0 2.0 9.14   Underdog Underdog
including 686.5 687.0 0.5 29.5
OSK-W-20-2410-W1 720.7 723.0 2.3 36.8   Caribou Caribou
including 722.0 723.0 1.0 67.0
OSK-W-20-2414 837.0 839.1 2.1 3.92   Caribou Caribou
OSK-W-20-2415-W1 453.0 455.0 2.0 24.7 20.2 Caribou Caribou
including 453.9 454.3 0.4 123 100
OSK-W-20-2421 530.0 532.1 2.1 6.56   Caribou Caribou
including 530.0 531.0 1.0 13.3
534.0 538.6 4.6 58.7 40.6 Caribou Caribou
including 536.0 537.0 1.0 123 100
and 537.0 537.4 0.4 251 100
OSK-W-20-2424 109.2 111.5 2.3 4.70   F11 F11
including 109.8 110.3 0.5 17.8
OSK-W-20-2433 78.0 80.0 2.0 3.60   F11 F11
including 78.8 79.3 0.5 13.9
216.0 218.0 2.0 3.95   F11 F11
including 216.0 216.5 0.5 11.7
OSK-W-20-2439 45.3 48.0 2.7 4.05   F11 F11
OSK-W-21-2451 647.4 649.4 2.0 4.90   Caribou Caribou
including 648.0 648.4 0.4 15.0
748.0 750.5 2.5 19.1   Caribou Caribou
OSK-W-21-2460 535.8 538.0 2.2 18.8   Caribou Caribou
724.6 726.7 2.1 3.95   Caribou Caribou
OSK-W-21-2462 480.0 482.0 2.0 36.2 25.7 Caribou Caribou
including 480.9 481.4 0.5 142 100
678.0 680.4 2.4 5.78   Caribou Caribou
OSK-W-21-2466 539.0 541.0 2.0 9.76   Caribou Caribou
OSK-W-21-2467-W1 421.0 423.0 2.0 3.65   Caribou Caribou
602.0 604.0 2.0 21.9   Caribou Caribou
including 603.0 604.0 1.0 43.6
636.1 639.7 3.6 21.2   Caribou Caribou
including 636.1 636.6 0.5 89.3
687.0 689.0 2.0 14.0   Caribou Caribou
including 687.0 688.0 1.0 25.0
WST-20-0519 148.0 150.0 2.0 6.76   Z27 Zone 27
WST-20-0558 98.0 100.0 2.0 4.57   Bobcat Bobcat
including 98.4 99.1 0.7 12.8
166.0 168.0 2.0 7.15   Bobcat Bobcat
including 167.7 168.0 0.3 47.5
WST-20-0566A 93.9 96.3 2.4 3.57   Z27 Zone 27
including 95.0 95.6 0.6 12.0

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2354-W1 336 -60 792 452739 5434474 401 2725
OSK-W-20-2354-W2 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W4 336 -60 783 452739 5434474 401 2725
OSK-W-20-2359 335 -61 726 452694 5434440 401 2675
OSK-W-20-2366 323 -55 534 452682 5434624 398 2750
OSK-W-20-2377-W1 132 -49 1314 452702 5435548 409 3225
OSK-W-20-2387 336 -59 717 452694 5434440 401 2675
OSK-W-20-2387-W1 336 -59 738 452694 5434440 401 2675
OSK-W-20-2390 330 -65 647 452595 5434393 401 2550
OSK-W-20-2399-W1 333 -54 876 452874 5434552 398 2875
OSK-W-20-2399-W2 333 -54 876 452874 5434552 398 2875
OSK-W-20-2400 336 -53 884 452876 5434419 402 2825
OSK-W-20-2401 330 -55 705 452688 5434637 397 2750
OSK-W-20-2407-W1 347 -55 1044 452315 5434419 399 2325
OSK-W-20-2410-W1 338 -62 750 452727 5434358 402 2650
OSK-W-20-2414 337 -54 882 452880 5434419 402 2825
OSK-W-20-2415-W1 328 -54 762 452738 5434474 401 2725
OSK-W-20-2421 332 -59 699 452632 5434280 400 2525
OSK-W-20-2424 150 -45 267 452638 5436000 403 3375
OSK-W-20-2433 148 -47 411 452558 5436073 405 3350
OSK-W-20-2439 147 -50 360 452515 5436029 406 3275
OSK-W-21-2451 330 -58 803 452809 5434415 404 2750
OSK-W-21-2460 332 -55 789 452732 5434537 399 2750
OSK-W-21-2462 338 -57 888 452874 5434552 398 2875
OSK-W-21-2466 330 -66 639 452597 5434393 401 2550
OSK-W-21-2467-W1 331 -54 708 452687 5434471 402 2675
WST-20-0519 136 -45 162 452282 5434976 262 2575
WST-20-0558 155 -32 169 452955 5435003 253 3175
WST-20-0566A 132 -16 368 452208 5434898 248 2475

 

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

 

Zone 27

Mineralization most commonly occurs as replacement-type characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, local quartz-carbonate veins, and local visible gold. Mineralization is associated with moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite and is hosted in strongly altered andesites, in or at the contact of the rhyolite, or along the contacts with felsic porphyritic intrusions.

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or as replacement type in shear zones and is characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Bobcat

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

Underdog

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

 

Qualified Person

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

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (with an effective date of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO MINING ORDERS MILLING EQUIPMENT FOR WINDFALL

(Toronto, March 9, 2021) Osisko Mining Inc. (OSK:TSX: “Osisko” or the “Corporation”) is pleased to announce that it has placed an order for grinding equipment and ancillaries from FLSmidth, a leading technology and equipment supply company, for its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

The order consists of a 7.3 meters (24 foot) diameter x 3.4 meters (11 foot) long gear-driven semi-autogenous grinding (SAG) mill and a 5.2 meters (17 foot) diameter x 9.4 meters (31 foot) long gear-driven ball mill.  Current planning foresees installation and operation of the grinding mills in a SABC[1] configuration.  The grinding mills have a capacity of processing up to 176.6 dry tonnes per hour, or 3,900 tonnes per day based on 92% availability.  The equipment is expected to be delivered to the Windfall project in the second half of 2022. Installation will follow pending successful receipt of all permits and authorizations.

 

John Burzynski, Chief Executive Officer of Osisko commented: “FLSmidth is a recognized global leader in grinding technologies with a long track record of providing high quality products, and we are looking forward to be working with them on our developing Windfall project.  Securing these critical long lead time components of the grinding circuit is an important first step in solidifying detailed engineering for the Windfall plant.  We continue to advance all aspects of work on Windfall including our environmental assessment and consultation with our host communities and look forward to additional near-term announcements regarding our infrastructure plans.”

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

About FLSmidth

FlSmidth is the market-leading supplier of sustainable productivity to the global mining and cement industries.  Headquartered in Copenhagen, Denmark, and with offices in more than 50 countries including Canada, FLSmidth delivers engineering, equipment and service solutions to customers worldwide.  Productivity, sustainability, and quality are focus areas for the 12,000 employees in FLSmidth.

 

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

[1] In a SABC configuration, the SAG and ball mill are in closed circuit, with the SAG mill closed with a crusher to control the amount of ‘critical size’ material in the circuit.

OSISKO FILES TECHNICAL REPORT FOR WINDFALL MINERAL RESOURCE ESTIMATE UPDATE

(Toronto, March 8, 2021) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects to update the mineral resource estimate on its 100% owned Windfall gold deposit. The technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” and dated March 8, 2021 (effective date of November 30, 2020) has been prepared for Osisko by BBA Inc. The technical report is available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Statements Regarding Mineral Resource Estimate

Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of mineral resources that are not mineral reserves has not been demonstrated. The mineral resource estimate described in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Readers are cautioned not to assume that further work on the stated mineral resources will lead to mineral reserves that can be mined economically.

 

CONTACT INFORMATION:

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

OSISKO WINDFALL INFILLS WITH HIGH-GRADE IN MULTIPLE ZONES 35.7 g/t Au Over 9.8 Metres in Underdog 65.6 g/t Au over 4.2 meters in Caribou

(Toronto, March 03, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Today’s infill results are from the southwestern areas of the deposit including Zone 27, Underdog, Caribou, F11, Mallard, and Bobcat. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling continues to deliver impressive grade and width results from the Windfall deposit.”

The table below contains resource definition infill intercepts located inside defined February 2021 mineral resource estimate blocks (see Osisko news release dated February 17, 2021). Significant new analytical results are presented below, including 73 intercepts in 33 drill holes (24 from surface, 9 from underground) and 10 wedges.

Selected intercepts include: 35.7 g/t Au over 9.8 metres, 70.7 g/t Au over 2.0 metres, and 50.4 g/t Au over 3.6 metres in OSK-W-20-2407; 65.6 g/t Au over 4.2 metres in OSK-W-20-2390; 60.8 g/t Au over 2.0 metres in OSK-W-20-2405; 39.0 g/t Au over 3.0 metres in OSK-W-20-2400; 55.2 g/t Au over 2.0 metres in OSK-W-20-2399 and 18.9 g/t Au over 5.5 metres in OSK-W-20-2354-W2. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-852-W4 725.0 727.0 2.0 6.83   Caribou_2212 Caribou
including 725.6 726.0 0.4 27.6
OSK-W-20-913-W1 634.7 637.0 2.3 3.39   Caribou_2523 Caribou
including 634.7 635.0 0.3 18.6
  851.0 853.3 2.3 11.1   Caribou_2219 Caribou
including 851.0 851.5 0.5 47.2
OSK-W-20-913-W2 715.0 717.8 2.8 3.89   Caribou_2210 Caribou
  846.0 848.0 2.0 15.5   Caribou_2219 Caribou
including 846.0 846.7 0.7 44.0
OSK-W-20-2354-W1 647.0 650.5 3.5 14.6   Caribou_2233 Caribou
  674.2 677.4 3.2 24.7   Caribou_2208 Caribou
including 677.0 677.4 0.4 77.9
OSK-W-20-2354-W2 641.0 646.5 5.5 18.9   Caribou_2233 Caribou
including 642.8 643.1 0.3 61.9
OSK-W-20-2354-W3 632.0 635.0 3.0 8.61   Caribou_2214 Caribou
  665.7 670.0 4.3 7.53   Caribou_2208 Caribou
including 669.0 670.0 1.0 17.1
OSK-W-20-2354-W4 498.8 501.0 2.2 3.79   Caribou Caribou
  649.0 651.0 2.0 6.43   Caribou_2233 Caribou
  673.0 676.0 3.0 16.7   Caribou_2208 Caribou
  708.0 711.0 3.0 4.97   Caribou_2220 Caribou
OSK-W-20-2359 360.8 363.0 2.2 5.96   Caribou Caribou
OSK-W-20-2359-W1 361.0 363.0 2.0 6.17   Caribou Caribou
  662.0 664.9 2.9 4.88   Caribou_2206 Caribou
OSK-W-20-2366 459.0 461.0 2.0 4.90   Caribou_2210 Caribou
including 460.0 461.0 1.0 9.13
OSK-W-20-2373 600.0 602.0 2.0 3.14   Caribou_2241 Caribou
including 600.6 601.4 0.8 7.07
OSK-W-20-2376 320.3 322.3 2.0 3.56   Caribou_2116 Caribou
  432.6 436.0 3.4 5.32   Caribou_2235 Caribou
including 435.0 436.0 1.0 13.3
OSK-W-20-2377 741.0 743.2 2.2 3.22   Caribou_2553 Caribou
OSK-W-20-2387 661.2 663.2 2.0 8.69   Caribou_2233 Caribou
OSK-W-20-2388 537.0 539.7 2.7 4.76   Caribou_2215 Caribou
  610.7 614.2 3.5 13.8   Caribou_2217 Caribou
including 610.7 611.0 0.3 87.5
639.3 641.8 2.5 4.14   Caribou_2218 Caribou
including 640.4 641.1 0.7 11.0
  645.4 647.5 2.1 3.87   Caribou_2218 Caribou
including 646.0 646.5 0.5 16.1
OSK-W-20-2390 594.8 599.0 4.2 65.6 51.2 Caribou_2241 Caribou
including 596.9 597.2 0.3 147 100
and 597.5 598.1 0.6 178 100
OSK-W-20-2399 673.0 675.0 2.0 55.2 20.2 Caribou_2212 Caribou
including 674.0 674.4 0.4 275 100
OSK-W-20-2400 750.0 753.0 3.0 39.0 36 Caribou_2215 Caribou
including 752.0 753.0 1.0 109 100
  797.0 802.0 5.0 6.32   Caribou_2220 Caribou
including 798.0 799.0 1.0 16.4
  858.0 861.7 3.7 6.19   Caribou_2219 Caribou
including 860.0 861.3 1.3 12.6
OSK-W-20-2405 262.0 264.0 2.0 60.8 42.4 Caribou_2106 Caribou
including 262.7 263.5 0.8 146 100
  622.0 624.0 2.0 4.35   Caribou_2214 Caribou
including 622.0 622.6 0.6 11.2
  626.5 630.0 3.5 16.8   Caribou_2214 Caribou
including 627.5 628.0 0.5 56.0
OSK-W-20-2405-W1 655.9 657.9 2.0 16.6   Caribou_2233 Caribou
including 656.5 657.0 0.5 44.4
OSK-W-20-2407 662.0 665.6 3.6 50.4 46.6 Underdog_4101 Underdog
including 663.6 664.4 0.8 184 100
  681.0 683.0 2.0 3.77   Underdog_4100 Underdog
  690.0 699.8 9.8 35.7   Underdog_4100 Underdog
including 690.0 691.0 1.0 85.0
and 695.0 696.0 1.0 76.4
  705.0 707.0 2.0 70.7 21.9 Underdog_4102 Underdog
including 706.3 706.7 0.4 344 100
OSK-W-20-2410 686.4 688.4 2.0 6.69   Caribou_2214 Caribou
OSK-W-20-2414 628.0 630.0 2.0 12.0   Caribou_2524 Caribou
including 629.0 630.0 1.0 23.7
OSK-W-20-2415 608.8 611.0 2.2 9.96   Caribou_2211 Caribou
including 608.8 609.2 0.4 45.9
  703.4 707.4 4.0 17.4   Caribou_2220 Caribou
including 703.4 703.7 0.3 78.4
OSK-W-20-2415-W1 638.3 643.2 4.9 12.0   Caribou_2233 Caribou
including 638.3 639.3 1.0 32.5
OSK-W-20-2425 621.0 624.1 3.1 19.3 14.2 Caribou_2220 Caribou
including 623.8 624.1 0.3 152 100
  709.4 711.4 2.0 3.91   Caribou_2219 Caribou
including 710.0 710.6 0.6 11.5
OSK-W-20-2432 749.6 751.7 2.1 11.0   Caribou_2208 Caribou
including 750.2 750.9 0.7 28.9
OSK-W-20-2437 608.4 610.4 2.0 6.62   Caribou_2214 Caribou
including 608.4 609.1 0.7 17.6
OSK-W-20-2438 600.0 603.9 3.9 10.4   Caribou_2211 Caribou
including 600.0 601.0 1.0 18.6
OSK-W-20-2440 690.0 692.0 2.0 6.68   Caribou_2217 Caribou
  702.0 705.0 3.0 10.3   Caribou_2220 Caribou
  738.0 740.0 2.0 3.29   Caribou_2218 Caribou
OSK-W-21-2444 451.2 453.4 2.2 4.06   Caribou_2236 Caribou
  558.1 562.1 4.0 17.5   Caribou_2215 Caribou
including 561.1 562.1 1.0 38.1
  572.0 574.0 2.0 4.30   Caribou_2250 Caribou
including 572.9 573.2 0.3 19.8
OSK-W-21-2451 729.0 734.6 5.6 8.55   Caribou_2208 Caribou
including 734.0 734.6 0.6 34.0
  739.5 742.3 2.8 20.7   Caribou_2208 Caribou
OSK-W-21-2455 594.0 596.1 2.1 5.35   Caribou_2211 Caribou
  666.7 668.8 2.1 3.55   Caribou_2208 Caribou
OSK-W-21-2460 438.9 441.7 2.8 9.51   Caribou_2116 Caribou
including 441.4 441.7 0.3 28.0
WST-20-0479B 36.4 38.5 2.1 4.19   Mallard_5208 Mallard
  269.0 271.0 2.0 9.08   Z27_1123 Zone 27
including 269.0 270.0 1.0 18.0
WST-20-0517 77.4 79.5 2.1 18.9   Mallard_5211 Mallard
including 77.4 78.0 0.6 47.1
WST-20-0519 59.0 61.0 2.0 6.07   Mallard_5208 Mallard
WST-20-0520 176.2 178.3 2.1 6.20   Z27_1123 Zone 27
including 176.2 176.7 0.5 20.5
WST-20-0521 191.3 193.7 2.4 4.40   Z27_1102 Zone 27
  195.2 197.2 2.0 4.76   Z27_1102 Zone 27
  231.9 234.3 2.4 7.99   Z27_1123 Zone 27
including 233.9 234.3 0.4 31.7
WST-20-0555 118.8 121.6 2.8 10.8   Bobcat_2350 Bobcat
including 119.5 119.9 0.4 24.6
and 121.0 121.6 0.6 23.2
WST-20-0566 13.0 15.3 2.3 5.64   Mallard_5211 Mallard
including 14.0 14.3 0.3 15.7
WST-20-0566A 255.5 259.3 3.8 13.4   Caribou_2100 Caribou
including 255.8 256.1 0.3 37.6
and 259.0 259.3 0.3 83.6
WST-20-0627 14.0 16.9 2.9 8.32   Mallard_5211 Mallard

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-852-W4 330 -55 873 452874 5434552 398 2875
OSK-W-20-913-W1 334 -52 939 452878 5434419 401 2825
OSK-W-20-913-W2 334 -52 913 452878 5434419 401 2825
OSK-W-20-2354-W1 336 -60 792 452739 5434474 401 2725
OSK-W-20-2354-W2 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W3 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W4 336 -60 783 452739 5434474 401 2725
OSK-W-20-2359 335 -61 726 452694 5434440 401 2675
OSK-W-20-2359-W1 335 -61 696 452694 5434440 401 2675
OSK-W-20-2366 323 -55 534 452682 5434624 398 2750
OSK-W-20-2373 335 -65 647 452595 5434393 401 2550
OSK-W-20-2376 325 -55 510 452689 5434637 397 2750
OSK-W-20-2377 132 -49 1326 452702 5435548 409 3225
OSK-W-20-2387 336 -59 717 452694 5434440 401 2675
OSK-W-20-2388 326 -61 699 452715 5434606 397 2775
OSK-W-20-2390 330 -65 647 452595 5434393 401 2550
OSK-W-20-2399 333 -54 864 452874 5434552 398 2875
OSK-W-20-2400 336 -53 884 452876 5434419 402 2825
OSK-W-20-2405 332 -58 723 452694 5434440 401 2675
OSK-W-20-2405-W1 332 -58 716 452694 5434440 401 2675
OSK-W-20-2407 347 -55 993 452315 5434419 399 2325
OSK-W-20-2410 338 -62 768 452727 5434358 402 2650
OSK-W-20-2414 337 -54 882 452880 5434419 402 2825
OSK-W-20-2415 328 -54 755 452738 5434474 401 2725
OSK-W-20-2415-W1 328 -54 762 452738 5434474 401 2725
OSK-W-20-2425 336 -60 747 452715 5434606 397 2775
OSK-W-20-2432 333 -57 864 452809 5434415 404 2750
OSK-W-20-2437 329 -62 630 452597 5434393 401 2550
OSK-W-20-2438 331 -60 729 452695 5434401 402 2650
OSK-W-20-2440 330 -52 807 452738 5434474 401 2725
OSK-W-21-2444 337 -59 636 452715 5434606 397 2775
OSK-W-21-2451 330 -58 803 452809 5434415 404 2750
OSK-W-21-2455 328 -53 780 452738 5434474 401 2725
OSK-W-21-2460 332 -55 786 452732 5434537 399 2750
WST-20-0479B 138 -59 402 452281 5434975 262 2575
WST-20-0517 140 -55 400 452281 5434975 262 2575
WST-20-0519 136 -45 162 452282 5434976 262 2575
WST-20-0520 135 -46 388 452281 5434975 263 2575
WST-20-0521 153 -57 385 452281 5434975 262 2575
WST-20-0555 145 -25 160 452955 5435003 254 3175
WST-20-0566 132 -16 20 452208 5434898 248 2475
WST-20-0566A 132 -16 368 452208 5434898 248 2475
WST-20-0627 130 -18 84 452208 5434899 249 2475

 

 

 

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

 

Underdog

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

 

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Bobcat

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

 

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

 

Qualified Person

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

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

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

 

 

CONTACT INFORMATION:

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

OSISKO INFILL CONTINUES TO DELIVER WITH 342 g/t Au OVER 2.5 METRES

(Toronto, March 1st, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Infill drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to deliver with high-grade and width as we infill the mineral resource estimate (“MRE”) areas published earlier this month.”

The table below contains resource definition infill intercepts located inside defined February 2021 MRE blocks (see Osisko news release dated February 17, 2021). Significant new analytical results are presented below, including 80 intercepts in 21 drill holes (7 from surface, 14 from underground) and 26 wedges.

Select intercepts include: 342 g/t Au over 2.5 metres in OSK-W-20-1432-W2; 37.7 g/t Au over 7.2 metres in OSK-W-20-2283-W5; 56.4 g/t Au over 4.0 metres, 18.3 g/t Au over 5.5 metres and 45.3 g/t Au over 2.1 metres in OSK-W-20-2256-W8; 79.8 g/t Au over 2.4 metres in OSK-W-20-2397; 63.8 g/t Au over 2.4 metres in OSK-W-20-2271-W6; 36.0 g/t Au over 2.7 metres in WST-20-0548A; 42.2 g/t Au over 2.0 metres in OSK-W-20-2280-W6; and 21.1 g/t Au over 4.0 metres in OSK-W-20-2283-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-1432-W2 959.5 962.0 2.5 342 72.1 LX4_3437 Lynx
including 960.2 961.0 0.8 596 100
OSK-W-20-2133-W4 966.4 969.0 2.6 3.85   TLX_3188 Triple Lynx
OSK-W-20-2170-W7 971.0 973.0 2.0 25.5   TLX_3163 Triple Lynx
including 971.0 972.0 1.0 41.1
  995.0 997.5 2.5 4.18   TLX_3163 Triple Lynx
  1051.0 1053.0 2.0 4.07   TLX_3162 Triple Lynx
OSK-W-20-2252-W5 901.0 903.0 2.0 3.30   TLX_3185 Triple Lynx
OSK-W-20-2252-W10 939.9 942.0 2.1 3.31   TLX_3163 Triple Lynx
OSK-W-20-2256-W8 872.5 877.0 4.5 4.39   TLX_3189 Triple Lynx
  883.2 887.0 3.8 4.17   TLX_3161 Triple Lynx
including 886.0 886.5 0.5 8.68
  888.5 890.5 2.0 7.73   TLX_3161 Triple Lynx
including 889.4 889.9 0.5 30.2
  901.7 905.7 4.0 56.4 48.5 TLX_3161 Triple Lynx
including 901.7 902.2 0.5 139 100
and 903.0 903.5 0.5 125 100
  907.7 913.2 5.5 18.3   TLX_3161 Triple Lynx
including 911.7 912.5 0.8 44.5
  921.0 923.1 2.1 45.3   TLX_3161 Triple Lynx
including 922.1 923.1 1.0 92.7
  961.0 966.3 5.3 13.4   TLX_3163 Triple Lynx
including 965.7 966.3 0.6 87.2
  972.0 974.0 2.0 3.59   TLX_3163 Triple Lynx
  1001.2 1003.6 2.4 13.8   TLX_3164 Triple Lynx
including 1002.2 1002.6 0.4 40.5
OSK-W-20-2271-W3 1093.0 1095.0 2.0 4.59   LX4_3440 Lynx
OSK-W-20-2271-W4 1085.0 1087.0 2.0 9.68   LX4_3418 Lynx
including 1085.0 1085.5 0.5 21.0
OSK-W-20-2271-W5 825.5 828.0 2.5 29.5 12.4 LXM_3317 Lynx
including 826.2 826.5 0.3 242 100
  1177.2 1179.8 2.6 6.19   LX4_3430 Lynx
OSK-W-20-2271-W6 849.0 851.0 2.0 5.07   LXM_3345 Lynx
  1131.6 1133.7 2.1 10.5   LX4_3434 Lynx
including 1132.7 1133.0 0.3 46.1
  1135.6 1138.0 2.4 63.8 26.7 LX4_3434 Lynx
including 1137.3 1137.7 0.4 323 100
OSK-W-20-2280-W2 1096.4 1098.8 2.4 6.46   TLX_3170 Triple Lynx
OSK-W-20-2280-W6 916.0 918.1 2.1 3.88   TLX_3161 Triple Lynx
including 916.7 917.1 0.4 16.3
  951.0 953.7 2.7 3.43   TLX_3180 Triple Lynx
  956.0 958.0 2.0 3.64   TLX_3180 Triple Lynx
  965.0 967.0 2.0 42.2   TLX_3180 Triple Lynx
including 966.0 967.0 1.0 82.8
  1033.1 1036.0 2.9 4.53   TLX_3164 Triple Lynx
including 1033.4 1033.8 0.4 25.0
  1062.6 1064.9 2.3 7.50   TLX_3162 Triple Lynx
including 1063.5 1064.3 0.8 20.5
OSK-W-20-2280-W7 1017.2 1019.6 2.4 4.06   TLX_3164 Triple Lynx
OSK-W-20-2280-W9 979.0 981.0 2.0 3.17   TLX_3180 Triple Lynx
  985.0 987.0 2.0 4.84   TLX_3180 Triple Lynx
including 986.7 987.0 0.3 21.0
  1020.0 1022.5 2.5 5.00   TLX_3183 Triple Lynx
  1066.1 1069.0 2.9 5.01   TLX_3164 Triple Lynx
including 1066.1 1066.4 0.3 26.0
  1082.0 1089.0 7.0 4.51   TLX_3162 Triple Lynx
including 1087.7 1088.1 0.4 22.2
OSK-W-20-2283-W3 787.0 789.0 2.0 5.52   TLX_3171 Triple Lynx
including 788.0 788.3 0.3 35.6
  805.0 807.0 2.0 3.51   TLX_3184 Triple Lynx
OSK-W-20-2283-W4 792.0 796.0 4.0 21.1   TLX_3171 Triple Lynx
  808.0 810.9 2.9 9.76   TLX_3184 Triple Lynx
including 809.1 810.0 0.9 19.6
  921.0 926.0 5.0 5.16   TLX_3194 Triple Lynx
including 922.7 924.0 1.3 13.9
OSK-W-20-2283-W5 803.8 811.0 7.2 37.7   TLX_3171 Triple Lynx
including 807.7 809.0 1.3 76.5
OSK-W-20-2283-W7 840.0 847.0 7.0 10.4   TLX_3184 Triple Lynx
including 844.0 845.0 1.0 42.3
  849.0 852.0 3.0 6.33   TLX_3184 Triple Lynx
OSK-W-20-2295-W4 882.0 884.3 2.3 26.8 21.5 TLX_3195 Triple Lynx
including 882.4 882.7 0.3 141 100
and 884.0 884.3 0.3 55.8
OSK-W-20-2313-W7 960.0 962.0 2.0 3.92   TLX_3193 Triple Lynx
including 960.7 961.4 0.7 11.0
OSK-W-20-2313-W8 827.8 830.0 2.2 3.82   TLX_3171 Triple Lynx
including 828.6 828.9 0.3 20.8
OSK-W-20-2322-W3 1138.0 1140.2 2.2 6.26   LX4_3430 Lynx
including 1139.6 1140.2 0.6 16.5
OSK-W-20-2346 978.0 980.0 2.0 12.1   LX4_3413 Lynx
  1092.0 1094.1 2.1 3.83   LX4_3438 Lynx
OSK-W-20-2363 630.0 632.1 2.1 16.7   TLX_3178 Triple Lynx
including 630.4 630.9 0.5 62.2
OSK-W-20-2363-W1 955.0 957.0 2.0 7.28   TLX_3195 Triple Lynx
OSK-W-20-2375 887.3 890.0 2.7 9.19   LX4_3414 Lynx
including 888.3 889.0 0.7 31.4
OSK-W-20-2381-W1 1228.0 1230.0 2.0 8.54   LX4_3449 Lynx
including 1228.0 1228.7 0.7 24.3
OSK-W-20-2384 991.0 993.0 2.0 7.24   LX4_3430 Lynx
  1000.5 1003.0 2.5 26.5 22.2 LX4_3430 Lynx
including 1001.2 1001.7 0.5 122 100
  1013.0 1015.0 2.0 19.5   LX4_3430 Lynx
OSK-W-20-2385 755.0 757.3 2.3 17.0   LX4_3426 Lynx
including 755.0 756.0 1.0 38.1
  776.0 778.0 2.0 31.2   LX4_3426 Lynx
including 777.0 777.5 0.5 98.0
OSK-W-20-2385-W1 778.7 781.0 2.3 6.32   LX4_3426 Lynx
including 779.2 779.6 0.4 24.3
OSK-W-20-2394 652.0 654.0 2.0 5.93   TLX_3184 Triple Lynx
including 652.4 652.8 0.4 17.7
OSK-W-20-2394-W1 642.8 645.0 2.2 14.5   TLX_3171 Triple Lynx
including 643.3 643.7 0.4 53.1
OSK-W-20-2397 660.8 664.4 3.6 11.1   LXM_3304 Lynx
including 660.8 661.4 0.6 43.3
  667.5 669.9 2.4 79.8 41.9 LXM_3304 Lynx
including 668.2 669.1 0.9 201 100
  676.9 679.1 2.2 20.5   LXM_3304 Lynx
including 678.1 678.6 0.5 82.9
WST-20-0492 116.9 119.2 2.3 22.3 17.6 LXM_3303 Lynx
including 116.9 117.3 0.4 127 100
WST-20-0524 81.9 86.2 4.3 3.58   LXM_3311 Lynx
WST-20-0548A 67.6 70.3 2.7 36.0   LXM_3339 Lynx
including 67.6 68.3 0.7 64.9
WST-20-0553 131.7 134.1 2.4 8.67   LXM_3303 Lynx
including 132.3 132.8 0.5 33.0
WST-20-0570 70.7 72.7 2.0 8.74   LXM_3361 Lynx
including 70.7 71.7 1.0 16.9
  274.1 276.1 2.0 6.79   LXSW_3556 Lynx SW
including 274.1 275.0 0.9 13.0
WST-20-0571 394.4 396.5 2.1 10.3   LXSW_3502 Lynx SW
including 395.8 396.1 0.3 60.1
WST-20-0572A 285.0 287.0 2.0 6.39   LXSW_3556 Lynx
including 286.0 287.0 1.0 12.6
WST-20-0577A 75.0 77.5 2.5 12.9   LXM_3303 Lynx
including 75.8 76.7 0.9 35.6
WST-20-0582 129.5 131.5 2.0 9.97   LXM_3339 Lynx
WST-20-0583 117.0 119.0 2.0 3.80   LXM_3307 Lynx
including 118.5 119.0 0.5 8.03
WST-20-0592 129.8 132.0 2.2 4.61   LXM_3303 Lynx
including 130.3 131.0 0.7 13.1
WST-20-0593 118.9 121.4 2.5 4.63   LXM_3303 Lynx
including 118.9 119.9 1.0 11.5
WST-20-0611 262.7 265.2 2.5 26.8   TLX_3161 Triple Lynx
including 262.7 263.6 0.9 66.9
WST-20-0628 112.1 114.5 2.4 6.47   LXM_3334 Lynx
including 113.0 113.5 0.5 18.0

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-1432-W2 132 -55 993 453811 5435779 400 4300
OSK-W-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2170-W7 128 -59 1205 453425 5435657 413 3900
OSK-W-20-2252-W5 129 -54 1092 453241 5435694 415 3750
OSK-W-20-2252-W10 129 -54 824 453241 5435694 415 3750
OSK-W-20-2256-W8 125 -51 1056 453160 5435686 411 3675
OSK-W-20-2271-W3 120 -53 1235 453462 5435683 410 3950
OSK-W-20-2271-W4 120 -53 1134 453462 5435683 410 3950
OSK-W-20-2271-W5 120 -53 1247 453462 5435683 410 3950
OSK-W-20-2271-W6 120 -53 1232 453462 5435683 410 3950
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2280-W6 127 -58 1152 453304 5435639 415 3775
OSK-W-20-2280-W7 127 -58 1131 453304 5435639 415 3775
OSK-W-20-2280-W9 127 -58 1037 453304 5435639 415 3775
OSK-W-20-2283-W3 135 -50 1004 452997 5435607 425 3500
OSK-W-20-2283-W4 135 -50 1012 452997 5435607 425 3500
OSK-W-20-2283-W5 135 -50 1043 452997 5435607 425 3500
OSK-W-20-2283-W7 135 -50 1049 452997 5435607 425 3500
OSK-W-20-2295-W4 132 -51 1082 452933 5435473 415 3375
OSK-W-20-2313-W7 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2313-W8 134 -52 1098 452965 5435583 420 3450
OSK-W-20-2322-W3 130 -54 1274 453608 5435715 403 4075
OSK-W-20-2346 130 -53 1161 453397 5435557 413 3825
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2363-W1 139 -52 1059 452930 5435548 419 3425
OSK-W-20-2375 122 -56 1160 453810 5435779 400 4300
OSK-W-20-2381-W1 134 -53 1274 453620 5435791 402 4125
OSK-W-20-2384 127 -52 1164 453397 5435557 413 3825
OSK-W-20-2385 125 -54 873 453687 5435679 401 4150
OSK-W-20-2385-W1 125 -54 937 453687 5435679 401 4150
OSK-W-20-2394 138 -52 864 452922 5435468 415 3375
OSK-W-20-2394-W1 138 -52 645 452922 5435468 415 3375
OSK-W-20-2397 131 -58 1197 453451 5435594 412 3900
WST-20-0492 158 -7 142 453256 5435209 97 3525
WST-20-0524 182 -44 243 453104 5435064 231 3325
WST-20-0548A 166 -59 370 453227 5435126 134 3475
WST-20-0553 148 -28 224 453257 5435209 96 3525
WST-20-0570 159 -50 454 453104 5435065 231 3325
WST-20-0571 167 -55 465 453104 5435065 231 3325
WST-20-0572A 136 -51 463 452955 5435004 252 3175
WST-20-0577A 117 -55 196 453316 5435167 124 3575
WST-20-0582 176 -56 144 453177 5435125 173 3425
WST-20-0583 176 -50 129 453177 5435125 173 3425
WST-20-0592 137 -26 205 453257 5435209 96 3525
WST-20-0593 149 -16 202 453257 5435209 96 3525
WST-20-0611 118 -63 378 453358 5435273 16 3650
WST-20-0628 150 -31 164 453321 5435235 55 3600

 

Lynx Zone

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

 

Qualified Person

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

 

 

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

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

 

 

CONTACT INFORMATION:

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

EXPANSION DRILLING ADDS NEW HIGH-GRADE FOR OSISKO

EXPANSION DRILLING ADDS NEW HIGH-GRADE FOR OSISKO

141 g/t Au Over 3.5 Metres in Lynx

29.2 g/t Au over 2.1 Metres in Caribou

31.4 g/t Au Over 2.4 Metres in F51

(Toronto, February 23, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Approximately 200,000 metres remain in the drill program, focused on the Lynx portion of the deposit.  Osisko expects to complete resource drilling by the fall of 2021.

Osisko Chief Executive Officer John Burzynski commented: “Today’s expansion drill results are a strong confirmation that many of the zones across the deposit remain open to growth.  The results presented below fall outside the wireframes in the recently published mineral resource estimate (“MRE”), and OSK-W-20-2391 in particular extends Triple Lynx 150 metres from the closest MRE block.”

Significant new analytical results presented below include 145 intercepts in 56 drill holes (31 from surface, 25 from underground) and 33 wedges.

Selected intercepts include: 141 g/t Au over 3.5 metres in WST-20-0524; 74.9 g/t Au over 2.3 metres in WST-20-0547; 57.8 g/t Au over 2.3 metres in OSK-W-20-2275-W4; 13.3 g/t Au over 6.4 metres in WST-20-0478; 26.0 g/t Au over 3.2 metres in OSK-W-20-2354-W1; 31.4 g/t Au over 2.4 metres in OSK-W-20-2391; 25.9 g/t Au over 2.9 metres in WST-20-0570; 15.9 g/t Au over 4.7 metres in WST-20-0346; 16.9 g/t Au over 4.2 metres in OSK-W-20-2354; and 24.4 g/t Au 2.9 metres in OSK-W-20-2369. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-852-W2 792.2 794.5 2.3 4.68   Caribou_2219 Caribou
including 793.2 793.5 0.3 32.7
OSK-W-20-852-W3 640.4 646.8 6.4 10.6   Caribou Caribou
including 640.4 640.7 0.3 43.4
  681.0 683.0 2.0 4.20   Caribou_2255 Caribou
OSK-W-20-852-W4 814.0 816.0 2.0 13.9   Caribou Caribou
including 814.0 815.0 1.0 21.8  
OSK-W-20-913-W2 622.0 624.0 2.0 4.60   Caribou Caribou
including 622.5 622.8 0.3 28.8
  672.0 674.5 2.5 4.00   Caribou Caribou
including 673.0 673.5 0.5 16.8
  755.0 757.0 2.0 16.7   Caribou Caribou
including 755.4 756.0 0.6 53.9
  858.0 860.0 2.0 3.48   Caribou Caribou
OSK-W-20-2170-W7 1102.0 1104.0 2.0 5.61   TLX_3170 Triple Lynx
including 1102.5 1102.9 0.4 23.5
OSK-W-20-2252-W8 1190.0 1192.0 2.0 7.24   Triple Lynx Triple Lynx
including 1190.0 1190.3 0.3 24.7
OSK-W-20-2252-W10 989.0 991.0 2.0 12.2   TLX_3163 Triple Lynx
993.0 999.6 6.6 9.83   TLX_3163 Triple Lynx
including 998.9 999.3 0.4 71.3
OSK-W-20-2256-W8 987.0 989.0 2.0 4.19   TLX_3164 Triple Lynx
OSK-W-20-2271-W4 792.0 794.0 2.0 29.4   Lynx Lynx
including 792.0 793.0 1.0 55.0  
804.0 807.0 3.0 8.32   Lynx Lynx
including 804.0 804.6 0.6 21.9
OSK-W-20-2275-W4 920.7 923.0 2.3 57.8 17.6 Triple Lynx Triple Lynx
including 921.2 921.5 0.3 408 100
OSK-W-20-2280-W6 937.5 939.5 2.0 4.75   Triple Lynx Triple Lynx
including 937.5 937.8 0.3 16.1
1078.9 1081.0 2.1 11.3   TLX_3170 Triple Lynx
OSK-W-20-2280-W8 960.9 964.0 3.1 5.07   TLX_3163 Triple Lynx
OSK-W-20-2280-W9 1071.0 1075.0 4.0 4.82   TLX_3162 Triple Lynx
including 1074.0 1075.0 1.0 12.7
OSK-W-20-2283-W3 939.0 941.3 2.3 4.50   TLX_3194 Triple Lynx
including 940.2 940.6 0.4 25.0
OSK-W-20-2283-W4 983.0 985.0 2.0 4.46   TLX_3195 Triple Lynx
OSK-W-20-2287 1284.0 1286.0 2.0 8.11   LX4_3445 Lynx
including 1284.3 1284.8 0.5 32.0
OSK-W-20-2295-W2 919.6 921.6 2.0 3.76   Triple Lynx Triple Lynx
including 919.6 920.0 0.4 18.4
OSK-W-20-2300 9.2 13.0 3.8 7.10   F17 F17
24.0 26.0 2.0 9.95   F17 F17
39.0 44.3 5.3 9.59   F17 F17
OSK-W-20-2313-W4 1119.3 1121.9 2.6 4.08   Triple Lynx Triple Lynx
including 1120.2 1121.0 0.8 12.5
OSK-W-20-2313-W5 911.9 914.0 2.1 21.2 17.5 Triple Lynx Triple Lynx
including 911.9 912.2 0.3 126 100
OSK-W-20-2313-W6 929.0 931.0 2.0 5.42   Triple Lynx Triple Lynx
including 929.8 930.2 0.4 12.5
1003.2 1005.3 2.1 5.89   TLX_3195 Triple Lynx
including 1003.2 1003.7 0.5 18.5
OSK-W-20-2313-W7 868.7 872.6 3.9 6.43   TLX_3161 Triple Lynx
OSK-W-20-2319 290.0 292.5 2.5 5.93   Bobcat Bobcat
672.0 674.0 2.0 5.13   Lynx SW Lynx
including 672.0 672.9 0.9 11.4
OSK-W-20-2322-W3 812.0 814.4 2.4 24.4   Lynx Lynx
including 812.5 813.0 0.5 59.6
857.0 859.0 2.0 6.67   Lynx Lynx
including 857.7 858.5 0.8 14.5
OSK-W-20-2328 287.0 289.5 2.5 4.92   Caribou Caribou
including 289.1 289.5 0.4 24.4
351.6 353.6 2.0 3.95   Caribou Caribou
OSK-W-20-2331 51.0 53.0 2.0 4.86   Mallard_5216 Mallard
OSK-W-20-2338 37.0 39.0 2.0 5.12   F17 F17
OSK-W-20-2340 75.0 77.0 2.0 6.51   F17 F17
including 76.1 76.7 0.6 21.4
OSK-W-20-2346 590.0 592.0 2.0 6.20   LXM_3323 Lynx
809.0 811.0 2.0 3.79   Triple Lynx Triple Lynx
OSK-W-20-2354 501.0 503.3 2.3 5.33   Caribou_2116 Caribou
including 501.0 502.0 1.0 12.0
620.0 622.0 2.0 24.7   Caribou Caribou
including 620.0 620.4 0.4 76.5
695.5 697.5 2.0 7.53   Caribou_2217 Caribou
including 696.7 697.1 0.4 29.2
728.7 730.7 2.0 19.5   Caribou_2218 Caribou
including 729.4 729.8 0.4 77.0
735.3 739.5 4.2 16.9 15.1 Caribou_2218 Caribou
including 739.2 739.5 0.3 125 100
OSK-W-20-2354-W1 702.0 704.0 2.0 4.80   Caribou Caribou
including 703.0 704.0 1.0 9.26
722.2 725.4 3.2 26.0   Caribou Caribou
including 723.4 724.0 0.6 55.3
757.2 759.9 2.7 13.5   Caribou Caribou
including 757.2 757.5 0.3 74.8
OSK-W-20-2354-W2 545.0 547.5 2.5 7.42   Caribou Caribou
including 546.2 546.5 0.3 47.3
OSK-W-20-2354-W3 541.3 544.0 2.7 3.99   Caribou Caribou
OSK-W-20-2354-W4 730.4 733.0 2.6 4.65   Caribou Caribou
OSK-W-20-2362 58.0 60.0 2.0 31.7 25.6 Bobcat_2355 Bobcat
including 58.5 59.0 0.5 125 100
OSK-W-20-2363 970.6 972.6 2.0 3.88   Triple Lynx Triple Lynx
OSK-W-20-2363-W2 666.4 669.7 3.3 6.59   TLX_3196 Triple Lynx
including 669.4 669.7 0.3 31.8
OSK-W-20-2365 44.0 46.5 2.5 8.36   Bobcat Bobcat
OSK-W-20-2369 584.9 587.8 2.9 24.4   Lynx Lynx
including 586.7 587.8 1.1 35.6
640.0 642.0 2.0 29.2 26.4 LXM_3304 Lynx
including 640.4 640.9 0.5 111 100
654.1 656.3 2.2 7.16   LXM_3341 Lynx
including 654.1 654.4 0.3 36.2
660.0 662.0 2.0 6.06   LXM_3341 Lynx
OSK-W-20-2371 796.5 798.8 2.3 17.2 13.2 Triple Lynx Triple Lynx
including 796.5 796.8 0.3 131 100
1049.0 1051.0 2.0 7.30   Lynx Lynx
OSK-W-20-2371-W1 847.0 849.0 2.0 7.72   Triple Lynx Triple Lynx
OSK-W-20-2371-W2 1023.0 1025.2 2.2 4.93   Triple Lynx Triple Lynx
OSK-W-20-2375-W1 907.3 909.7 2.4 18.5   LX4_3437 Lynx
including 908.4 909.3 0.9 36.8
OSK-W-20-2376 131.6 133.8 2.2 4.01   Caribou Caribou
233.0 235.0 2.0 4.27   Caribou Caribou
including 233.0 233.3 0.3 27.6
OSK-W-20-2377-W1 876.5 878.6 2.1 28.9 24.0 Caribou extension Caribou
including 876.5 877.0 0.5 121 100
882.8 884.8 2.0 16.4   Caribou extension Caribou
including 882.8 883.8 1.0 32.7
OSK-W-20-2381 1116.4 1118.7 2.3 4.02   Lynx 4 Lynx
OSK-W-20-2384 547.0 549.0 2.0 9.31   Lynx Lynx
including 548.0 549.0 1.0 18.2
OSK-W-20-2387-W1 496.0 498.1 2.1 4.17   Caribou Caribou
including 496.0 496.4 0.4 12.2
OSK-W-20-2388 317.6 319.7 2.1 10.7   Caribou Caribou
including 317.6 318.6 1.0 22.4
  568.7 571.1 2.4 4.85   Caribou_2250 Caribou
including 570.0 570.5 0.5 18.4
663.0 665.0 2.0 11.6   Caribou_2219 Caribou
including 663.0 664.0 1.0 23.0
666.0 668.1 2.1 4.12   Caribou_2219 Caribou
including 667.5 668.1 0.6 13.7
OSK-W-20-2390 579.0 581.2 2.2 27.9   Caribou_2247 Caribou
including 580.2 580.7 0.5 93.3
OSK-W-20-2391 234.6 237.0 2.4 31.4 21.3 F51 F51
including 235.4 235.9 0.5 149 100
1372.5 1376.0 3.5 8.73   Triple Lynx Triple Lynx
including 1373.3 1373.7 0.4 36.0
1497.0 1503.0 6.0 8.84   Triple Lynx Triple Lynx
1526.0 1528.0 2.0 15.7   Triple Lynx Triple Lynx
OSK-W-20-2397 603.0 605.1 2.1 9.70   Lynx Lynx
including 603.3 604.0 0.7 27.3
612.0 614.0 2.0 7.36   Lynx Lynx
654.0 656.5 2.5 4.16   LXM_3304 Lynx
including 655.0 655.4 0.4 12.5
698.5 700.5 2.0 4.07   LXM_3304 Lynx
including 700.0 700.5 0.5 11.9
975.0 977.1 2.1 7.12   Lynx 4 Lynx
1031.0 1033.0 2.0 11.0   Lynx 4 Lynx
including 1032.7 1033.0 0.3 69.9
1039.0 1041.0 2.0 4.76   Lynx 4 Lynx
including 1039.6 1040.3 0.7 12.9
1058.0 1060.2 2.2 26.1 19.6 LX4_3430 Lynx
including 1058.8 1059.2 0.4 136 100
OSK-W-20-2399-W1 551.0 554.3 3.3 19.2   Caribou_2523 Caribou
including 553.5 554.3 0.8 69.0
OSK-W-20-2400 815.0 817.0 2.0 9.57   Caribou Caribou
including 815.4 816.0 0.6 31.5
OSK-W-20-2405 519.6 521.8 2.2 4.59   Caribou Caribou
OSK-W-20-2405-W1 518.0 520.0 2.0 8.09   Caribou Caribou
  620.0 622.0 2.0 6.44   Caribou Caribou
including 620.5 621.0 0.5 22.8
669.0 672.0 3.0 8.57   Caribou Caribou
OSK-W-20-2406 635.0 638.7 3.7 10.1   Caribou_2241 Caribou
including 636.0 637.0 1.0 21.8
642.0 649.3 7.3 6.34   Caribou_2241 Caribou
including 647.7 648.3 0.6 17.9
and 648.7 649.3 0.6 21.0
OSK-W-20-2415 639.8 643.5 3.7 7.66   Caribou_2233 Caribou
including 639.8 640.1 0.3 27.9
and 640.4 640.7 0.3 33.2
680.0 682.3 2.3 8.40   Caribou_2217 Caribou
including 681.4 682.3 0.9 19.4
OSK-W-20-2421 685.0 687.2 2.2 6.02   Caribou Caribou
OSK-W-20-2425 298.0 301.0 3.0 18.9   Caribou Caribou
including 299.0 300.0 1.0 40.4
OSK-W-20-2432 725.0 727.4 2.4 9.40   Caribou Caribou
including 726.1 726.4 0.3 32.4
794.6 799.6 5.0 6.98   Caribou Caribou
including 794.6 795.5 0.9 20.4
804.3 806.6 2.3 7.92   Caribou Caribou
including 804.3 805.1 0.8 20.0
OSK-W-20-2440 719.0 721.0 2.0 6.26   Caribou Caribou
including 719.0 719.8 0.8 15.6
OSK-W-21-2451 430.8 434.0 3.2 20.4   Caribou Caribou
including 431.2 431.6 0.4 94.7
516.8 519.0 2.2 8.78   Caribou Caribou
including 517.1 517.7 0.6 30.1
OSK-W-21-2455 479.9 482.2 2.3 21.0 15.0 Caribou_2116 Caribou
including 479.9 480.2 0.3 146 100
WST-20-0346 118.2 120.4 2.2 16.1   Caribou_2151 Caribou
including 118.2 118.7 0.5 69.8
348.0 352.7 4.7 15.9   Caribou corridor Caribou
WST-20-0476 260.9 263.1 2.2 5.92   Caribou corridor Caribou
374.8 376.8 2.0 12.7   Caribou corridor Caribou
including 376.3 376.8 0.5 45.8
WST-20-0477 52.4 55.0 2.6 9.78   Mallard Mallard
228.0 230.4 2.4 4.55   Caribou_2100 Caribou
WST-20-0478 167.6 174.0 6.4 13.3 12.8 Caribou_2151 Caribou
including 172.4 173.0 0.6 106 100
354.0 356.0 2.0 4.72   Caribou Caribou
including 354.0 354.5 0.5 18.4
WST-20-0479B 147.1 149.1 2.0 7.97   Z27_1115 Zone 27
157.5 159.8 2.3 5.66   Z27 Zone 27
WST-20-0480B 376.0 378.0 2.0 9.80   Caribou Caribou
WST-20-0496 302.0 304.2 2.2 4.24   Lynx SW Lynx SW
including 303.4 303.7 0.3 30.7
513.6 516.2 2.6 10.9   Lynx SW Lynx SW
including 513.6 513.9 0.3 81.3
WST-20-0521 367.0 369.1 2.1 12.1   Caribou Caribou
including 367.6 368.6 1.0 24.4
WST-20-0522 374.0 376.0 2.0 6.98   Lynx SW Lynx SW
including 374.8 375.5 0.7 19.7
WST-20-0524 225.8 229.3 3.5 141 28.6 Lynx SW Lynx SW
including 228.4 229.3 0.9 536 100
WST-20-0534 122.0 124.2 2.2 10.4   LXM_3359 Lynx
including 123.2 124.2 1.0 22.9
WST-20-0547 421.6 423.9 2.3 74.9 43.4 LXSW_3502 Lynx
including 423.0 423.9 0.9 181 100
WST-20-0552 127.0 129.0 2.0 11.1   LXM_3339 Lynx
including 127.6 128.3 0.7 29.9
235.7 238.0 2.3 22.7   LXSW_3506 Lynx
including 236.4 237.4 1.0 51.8
WST-20-0556 96.3 98.4 2.1 4.66   Bobcat Bobcat
including 97.8 98.4 0.6 13.5
WST-20-0566A 13.7 17.2 3.5 17.7   Mallard_5211 Mallard
including 14.6 15.3 0.7 38.3
WST-20-0567 58.0 60.0 2.0 4.55   Z27 Zone 27
including 58.0 59.0 1.0 9.01
296.0 298.0 2.0 5.01   Caribou corridor Caribou
WST-20-0569 259.9 262.0 2.1 14.6    LXSW_3507 Lynx SW
including 261.5 262.0 0.5 26.7
WST-20-0570 206.2 209.1 2.9 25.9   Lynx SW Lynx SW
including 207.8 208.4 0.6 55.0
WST-20-0572A 272.0 274.0 2.0 11.0   LXSW_3556 Lynx SW
WST-20-0574 283.6 285.9 2.3 13.7   Lynx SW Lynx SW
WST-20-0578 170.0 172.0 2.0 24.3   LXM_3304 Lynx
including 170.8 171.2 0.4 76.8
785.0 792.0 7.0 9.09   LX4_3412 Lynx
including 789.5 790.4 0.9 24.2
WST-20-0581 408.9 411.0 2.1 14.8   LXSW_3556 Lynx
including 408.9 409.8 0.9 34.4
WST-20-0589 351.0 353.1 2.1 29.2   Caribou Caribou
including 351.7 352.6 0.9 67.7
WST-20-0584 122.0 124.0 2.0 11.4   LXM_3301 Lynx
WST-20-0626 134.4 136.8 2.4 4.19   LXM_3307 Lynx
including 134.4 135.0 0.6 9.74
138.3 140.5 2.2 19.4   LXM_3307 Lynx
including 138.8 139.8 1.0 41.4

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-852-W2 330 -55 873 452874 5434552 398 2875
OSK-W-20-852-W3 330 -55 849 452874 5434552 398 2875
OSK-W-20-852-W4 330 -55 873 452874 5434552 398 2875
OSK-W-20-913-W2 334 -52 913 452878 5434419 401 2825
OSK-W-20-2170-W7 128 -59 1205 453425 5435657 413 3900
OSK-W-20-2252-W8 129 -54 1239 453241 5435694 415 3750
OSK-W-20-2252-W10 129 -54 824 453241 5435694 415 3750
OSK-W-20-2256-W8 125 -51 1056 453160 5435686 411 3675
OSK-W-20-2271-W4 120 -53 1134 453462 5435683 410 3950
OSK-W-20-2275-W4 127 -49 1052 452888 5435583 409 3400
OSK-W-20-2280-W6 127 -58 1152 453304 5435639 415 3775
OSK-W-20-2280-W8 127 -58 1134 453304 5435639 415 3775
OSK-W-20-2280-W9 127 -58 1037 453304 5435639 415 3775
OSK-W-20-2283-W3 135 -50 1004 452997 5435607 425 3500
OSK-W-20-2283-W4 135 -50 1012 452997 5435607 425 3500
OSK-W-20-2287 116 -53 1406 453607 5435714 404 4075
OSK-W-20-2295-W2 132 -51 963 452933 5435473 415 3375
OSK-W-20-2300 152 -45 192 452699 5435578 406 3225
OSK-W-20-2313-W4 134 -52 1134 452965 5435583 420 3450
OSK-W-20-2313-W5 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2313-W6 134 -52 1029 452965 5435583 420 3450
OSK-W-20-2313-W7 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2319 141 -50 768 452872 5435153 409 3175
OSK-W-20-2322-W3 130 -54 1274 453608 5435715 403 4075
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2331 335 -50 239 451987 5434764 406 2200
OSK-W-20-2338 155 -57 213 452679 5435584 405 3200
OSK-W-20-2340 146 -55 201 452650 5435568 405 3175
OSK-W-20-2346 130 -53 1161 453397 5435557 413 3825
OSK-W-20-2354 336 -60 759 452739 5434474 401 2725
OSK-W-20-2354-W1 336 -60 792 452739 5434474 401 2725
OSK-W-20-2354-W2 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W3 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W4 336 -60 783 452739 5434474 401 2725
OSK-W-20-2362 350 -45 256 452719 5434777 398 2850
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2363-W2 139 -52 695 452930 5435548 419 3425
OSK-W-20-2365 354 -46 312 452673 5434766 398 2800
OSK-W-20-2369 130 -56 909 453426 5435565 410 3850
OSK-W-20-2371 123 -53 1203 452996 5435364 412 3375
OSK-W-20-2371-W1 123 -53 1032 452996 5435364 412 3375
OSK-W-20-2371-W2 123 -53 945 452996 5435364 412 3375
OSK-W-20-2375-W1 122 -56 987 453810 5435779 400 4300
OSK-W-20-2376 325 -55 510 452689 5434635 398 2750
OSK-W-20-2377-W1 132 -49 1097 452702 5435548 409 3225
OSK-W-20-2381 134 -53 1230 453620 5435791 402 4125
OSK-W-20-2384 127 -52 1164 453397 5435557 413 3825
OSK-W-20-2387-W1 336 -59 738 452694 5434440 401 2675
OSK-W-20-2388 326 -61 363 452715 5434606 397 2775
OSK-W-20-2390 330 -65 647 452597 5434393 401 2550
OSK-W-20-2391 117 -57 1230 453281 5435894 408 3900
OSK-W-20-2397 131 -58 1197 453451 5435594 412 3900
OSK-W-20-2399-W1 333 -54 425 452874 5434552 398 2875
OSK-W-20-2400 336 -53 884 452876 5434419 402 2825
OSK-W-20-2405 332 -58 723 452694 5434440 401 2675
OSK-W-20-2405-W1 332 -58 716 452694 5434440 401 2675
OSK-W-20-2406 333 -56 623 452632 5434280 400 2525
OSK-W-20-2415 328 -54 143 452738 5434474 401 2725
OSK-W-20-2421 332 -59 699 452632 5434280 400 2525
OSK-W-20-2425 336 -60 747 452715 5434606 397 2775
OSK-W-20-2432 333 -57 864 452809 5434415 404 2750
OSK-W-20-2440 330 -52 807 452739 5434474 401 2725
OSK-W-21-2451 330 -58 803 452809 5434415 404 2750
OSK-W-21-2455 328 -53 780 452738 5434474 401 2725
WST-20-0346 136 -18 391 452282 5434975 264 2575
WST-20-0476 132 -33 403 452282 5434975 263 2575
WST-20-0477 131 -30 394 452282 5434976 263 2575
WST-20-0478 123 -31 391 452282 5434976 263 2575
WST-20-0479B 138 -59 393 452281 5434975 262 2575
WST-20-0480B 142 -52 382 452281 5434975 262 2575
WST-20-0496 173 -60 537 453227 5435125 134 3475
WST-20-0521 151 -58 385 452281 5434975 262 2575
WST-20-0522 177 -52 457 453104 5435064 231 3325
WST-20-0524 182 -44 243 453104 5435064 231 3325
WST-20-0534 143 -32 135 453315 5435165 124 3575
WST-20-0547 167 -53 487 453227 5435125 134 3475
WST-20-0552 165 -39 517 453257 5435209 97 3525
WST-20-0556 155 -26 163 452955 5435003 254 3175
WST-20-0566A 133 -16 368 452208 5434898 248 2475
WST-20-0567 139 -19 379 452208 5434898 248 2475
WST-20-0569 165 -59 526 453104 5435065 231 3325
WST-20-0570 159 -50 454 453104 5435065 231 3325
WST-20-0572A 136 -51 463 452955 5435004 252 3175
WST-20-0574 139 -62 370 452955 5435004 252 3175
WST-20-0578 151 -46 802 453418 5435306 68 3725
WST-20-0581 181 -60 474 453177 5435126 173 3425
WST-20-0589 147 -55 376 452281 5434975 263 2575
WST-20-0584 174 -19 205 453417 5435304 69 3725
WST-20-0626 194 -59 471 453176 5435125 173 3425

 

Lynx Zone

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

 

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

 

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Bobcat

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

 

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

 

Qualified Person

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

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO MINING UPDATES WINDFALL MINERAL RESOURCE ESTIMATE

1.86M oz Au M&I Resource Averaging 9.6 g/t Au

4.24M oz Au Inferred Resource Averaging 8.0 g/t Au

 

(Toronto, February 17, 2021) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide an updated mineral resource estimate (the “MRE”) for its 100% owned world-class Windfall gold deposit, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

This MRE is based on drilling completed as of September 2020, and includes analytical results received as of November 30, 2020.  Approximately 100,000 metres of drilling has been completed since the above dates, with a further 200,000 metres in progress and expected to be completed by the third quarter of 2021.  A subsequent MRE for the Windfall feasibility study will follow the completion of the infill program.

 

HIGHLIGHTS

  • M&I grade of 9.6 g/t Au continues trend of grade increase with infill program
  • M&I ounces increased 54%
  • Lynx represents over 60% of the total MRE ounces with average grades of 11.3 g/t Au Measured; 11.0 g/t Au Indicated; and 9.9 g/t Au Inferred
  • Significant Lynx high-grade zones remain open to expansion down plunge
  • Remainder of infill drilling is focused on Lynx with >30 drills
  • Discovery and definition cost averages US$38/oz[1]
  • Deposit average of 4.5 oz Au defined per metre drilled

 

John Burzynski, Chief Executive Officer of Osisko Mining, commented: “We are pleased to deliver this updated MRE, as Windfall continues to impress with increasing average grade and scale.  The infill drill program is exceeding our expectations, with the M&I resource average grade increasing to 9.6 g/t Au.  We anticipate that by the end of the infill program and in the subsequent MRE, we will see another significant addition to the M&I resource with increased grade, and further growth of the deposit scale.  We have had strong infill results since the cut-off date that have not been included in this current estimate, and ongoing drilling continues to be encouraging as we work steadily towards the completion of our drill program.”

 

Mr. Burzynski continued: “The past year has provided some unforeseen challenges, and despite this, we have managed to advance our work significantly.  We would like very much to thank our Cree First Nation hosts and partners, local and provincial governments, our employees and contractors, our stakeholders and our shareholders for their help and strong support.”

 

 

 

Table 1: Windfall Gold Deposit Mineral Resource Estimate Sensitivity Table

Cut-off Grade
(g/t Au)
Measured + Indicated Inferred
Tonnes
(000 t)
 Grade Au (g/t)  Grade Ag (g/t) Ounces Au (000 oz) Ounces Ag (000 oz) Tonnes
(000 t)
 Grade Au (g/t)  Grade Ag (g/t) Ounces Au (000 oz) Ounces Ag (000 oz)
5.00    4,214      11.9        6.8          1,614             918    10,525         10.2        3.3          3,454         1,133
4.50    4,721      11.1        6.5          1,692             981    12,090            9.5        3.1          3,693         1,215
4.00    5,304      10.4        6.2          1,771          1,059    14,045            8.8        2.9          3,960         1,319
3.50   6,023        9.6        5.9         1,857         1,149   16,401           8.0        2.7         4,244        1,446
3.00    6,882        8.8        5.7          1,947          1,257    19,561            7.3        2.6          4,574         1,604
2.50    7,971        8.0        5.4          2,043          1,381    23,676            6.5        2.4          4,937         1,806

 Note: The MRE uses a cut-off grade of 3.5 g/t Au.

 

 

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

 

Area Measured Indicated Inferred
Tonnes1(000 t) Grade Au

(g/t)

Grade Ag

(g/t)

Ounces Au1

(000 oz)

Ounces Ag1

(000 oz)

Tonnes1(000 t) Grade Au

(g/t)

Grade Ag

(g/t)

Ounces Au1

(000 oz)

Ounces Ag1

(000 oz)

Tonnes1(000 t) Grade Au

(g/t)

Grade Ag

(g/t)

Ounces Au1

(000 oz)

Ounces Ag1

(000 oz)

Lynx2 521 11.3 8.1 189 135 3 075 11.0 6.6 1 088 655 7 418 9.9 3.5 2 355 833
Underdog 562 8.0 1.1 145 20 4 788 6.9 0.9 1 068 139
Main3 1 865 7.3 5.7 436 339 3 540 5.9 3.3 673 375
Triple 8 655 7.1 4.7 149 99
Total 521 11.3 8.1 189 135 5 502 9.4 5.7 1 668 1 013 16 401 8.0 2.7 4 244 1 446

    Notes: 1 Values are rounded to nearest thousand which may cause apparent discrepancies.

 2 Lynx area includes: Lynx Main, Lynx HW, Lynx SW and Lynx 4, Triple Lynx.

 3 Main area includes: Zone 27, Caribou, Mallard, Windfall Nord, and F-Zones.

 See Windfall Gold Deposit Mineral Resource Estimate notes further below.

 

“Located in Québec, one of the worlds best mining jurisdictions, this MRE places Windfall among the best high-grade development projects globally.” added Mr. Burzynski.  “Apart from the infill program, additional drills are exploring down plunge extensions of Lynx, the nearby Fox trend, and targets along strike from the Windfall deposit. The Windfall exploration ramp is advancing towards the third bulk sample in Triple Lynx, and we have received authorization to conduct test stopes in Lynx to optimize future mining parameters and grade distribution.”

 

This MRE is the result of 3,612 drill holes (1,343,593 metres of core) in the resource area, including 2,959 drill holes (1,161,872 metres of core) completed by Osisko from October 2015 to September 2020 with assays up to November 30, 2020. The Windfall MRE (with an effective date of November 30, 2020) was prepared by Osisko and reviewed and audited by BBA Inc., Montréal, Québec. The full technical report, which is being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”), will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days.

 

This mineral resource estimate reflects the current status of the geological interpretation supported by infill drilling, underground mapping and bulk sample results. Most mineralized envelopes in the Main area are associated with pyritic stringers occurring near contacts between volcanic rocks and younger intrusive rocks. The Lynx mineralized zones form an extensive anastomosed network of quartz-rich and pyrite-rich veins hosted within strongly silicified volcanic rocks. This system is located on the southern limb of an open fold plunging at 40 degrees towards ENE along the Bank fault-shear zone.

 

The MRE is 50% contained within 22 wireframes and 75% contained within 62 wireframes. The MRE considers a total of 374 mineralized zones defined by individual wireframes with a minimum true thickness of 2.0 metres. The MRE reports grade blocks inside volumes potentially mineable by underground methods at a cut-off grade of 3.5 g/t Au. The cut-off calculation below has been rounded up to 3.5 g/t Au to better represent a future mining cut-off.

 

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

for the Windfall Gold Deposit Mineral Resource Estimation

Parameters Unit Value
Gold Price USD/oz 1,485
Exchange Rate USD/CAD 1.3
Mill Recovery % 94
Payability % 99.95
Sell Cost USD/oz 5
Royalties (NSR) % 2
Mining Cost C$/T milled 100
G&A Cost C$/T milled 30
Processing Cost C$/T milled 40
Transportation C$/T milled 2
Environment C$/T milled 10
Calculated Cut-off Grade g/t Au 3.2
MRE Cut-off Grade g/t Au 3.5

 

Windfall Gold Deposit Mineral Resource Estimate Notes

 

  1. The independent qualified person for the 2021 MRE, as defined by NI 43-101 guidelines, is Pierre-Luc Richard, P.Geo.(OGQ#1119), of BBA Inc. The effective date of the estimate is November 30, 2020.
  2. The Windfall mineral resource estimate is compliant with the November 29, 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.
  3. These mineral resources are not mineral reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these resources as Indicated or Measured; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
  4. Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction. Isolated and discontinuous blocks above the stated cut-off grade are excluded from the mineral resource estimate. Must-take material, i.e. isolated blocks below cut-off grade located within a potentially mineable volume, was included in the mineral resource estimate.
  5. As of November 30, 2020, the database comprises a total of 3,612 drill holes for 1,343,593 metres of drilling in the area extent of the mineral resource estimate, of which 2,959 drill holes (1,161,872 metres) were completed and assayed by Osisko. The drill hole grid spacing is approximately 12.5 metre x 12.5 metre for definition drilling, 25 metre x 25 metre for infill drilling and larger for extension drilling.
  6. All core assays reported by Osisko were obtained by analytical methods described below under “Quality Control and Reporting Protocols”.
  7. Geological interpretation of the deposit is based on lithologies, mineralization style, alteration and structural features. Most mineralization envelopes are subvertical, striking NE-SW and plunging approximately 40 degrees towards the North-East. The 3D wireframing was generated in Leapfrog Geo, a modelling software, from hand selections of mineralization intervals. The mineral resource estimate includes a total of 374 tabular, mostly sub-vertical domains defined by individual wireframes with a minimum true thickness of 2.0 metres.
  8. Assays were composited within the mineralization domains into 2.0 metres length composites. A value of 0.00125 g/t Au and 0.0025 g/t Ag (¼ of the detection limit) was applied to unassayed core intervals.
  9. High-grade composites were capped. Cappings were determined in each area from statistical studies on groups of zones sharing similar mineralization characteristics. Cappings vary from 10 g/t Au to 200 g/t Au and from 5 g/t Ag to 150 g/t Ag. A multiple capping strategy defined by capping values decreasing as interpolation search distances increase was used in the grade estimations.
  10. Block models were produced using Datamine™ Studio RM Software. The models are defined by parent cell sizes of 5 metres NE, 2 meters NW and 5 metres height, and sublocked to minimum subcell sizes of 1.25 meters NE, 0.5 metres NW and 1.25 metres height.
  11. Ordinary Kriging (OK) based interpolations were produced for gold estimations in each area of the Windfall deposit, while silver grade estimations were produced using Ordinary Kriging (OK) or Inverse Distance Squared (ID2) interpolations. Gold estimation parameters are based on composite variography analyses. The gold estimation parameters were used for the silver estimation.
  12. Density values of 2.8 were applied to the mineralized zones.
  13. The Windfall mineral resource estimate is categorized as measured, indicated and inferred mineral resource as follows:

    a.    The measured mineral resource category is manually defined and enclosed areas where:
         i.    the drill spacing is less than 12.5 metres,
        ii.    blocks are informed by a minimum of four drill holes,
       iii.    geological evidence is sufficient to confirm geological and grade continuity,
       iv.    zones have been accessed by underground workings.
    b.    The indicated mineral resource category is manually defined and encloses areas where:

         i.    the drill spacing is generally less than 12.5 metres,
        ii.    blocks are informed by a minimum of two drill holes,
       iii.    geological evidence is sufficient to assume geological and grade continuity.


    c.    The inferred mineral resource category is manually defined and encloses areas where:

         i.    drill spacing is less than 100 metres,
        ii.    blocks are informed by a minimum of two drill holes,
       iii.   geological evidence is sufficient to imply, but not verify geological and grade continuity.

  14. The mineral resource is reported at 3.5 g/t Au cut-off. The cut-off grade is based on the following economic parameters: gold price at 1,485 USD/oz, exchange rate at 1.30 USD/CAD, 94% mill recovery; payability of 99.95%; selling cost at 5 USD/oz, 2% NSR royalties, mining cost at 100 C$/t milled, G&A cost at 30 C$/t milled, processing cost at 40 C$/t, transportation cost at 2 C$/t considering mill at site, and environment cost at 10 C$/t. A cut-off grade of 3.5 g/t Au was selected over the calculated cut-off grade of 3.2 g/t Au to better reflect a realistic mining cut-off.
  15. Estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonne x grade / 31.10348).
  16. The independent qualified person is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue, that could materially affect the mineral resource estimate.
  17. Values in tonnes and ounces are rounded to nearest thousand which may cause apparent discrepancies.

 

Qualified Person

The Windfall mineral resource estimate, with an effective date of November 30, 2020, was (i) prepared by Judith St-Laurent, P.Geo (OGQ #1023), B.Sc., Director of Resources Estimation at Osisko, and (ii) reviewed and approved by Pierre-Luc Richard, M.Sc., P.Geo (OGQ#1119,), each of whom is a “qualified person” within the meaning of NI 43-101. Mr. Richard is an employee of BBA Inc. and is considered to be “independent” of Osisko for purposes of section 1.5 of NI 43-101. The scientific and technical content in this news release has been reviewed and approved by Mr. Mathieu Savard, P.Geo (OGQ #510), President of Osisko, who is a “qualified person” within the meaning of NI 43-101.

Quality Control and Reporting Protocols

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

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in this news release and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release, certain of which are described in this news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog.  Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

Cautionary Statements Regarding Estimates of Mineral Resources

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

1Non-audited estimation using actual exploration expenditures as of December 31st, 2020 (excluding exploration ramp expenditures), the amount of metres drilled by Osisko since 2015 and considering Quebec Tax Exploration Credit returns divided by global ounces. This is considered a non-GAAP number.

OSISKO WINDFALL INFILL DRILLING: INSERT SUPERLATIVE HERE

New Intercepts Include 108 g/t Au Over 10.5 Metres

(Toronto, January 26, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling at Windfall continues with more good results with respect to grade and width, particularly in the Lynx zones. Both underground and surface drills continue to infill our resources and explore open down plunge areas.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 63 intercepts in 38 drill holes and 7 wedges.

Selected high-grade intercepts from the new results include: 108 g/t Au over 10.5 metres in OSK-W-20-2256-W7;21.7 g/t Au over 11.3 metres in OSK-W-20-2271-W3; 76.7 g/t Au over 3.0 metres in OSK-W-20-2377; 30.9 g/t Au over 4.5 metres in OSK-W-20-2292-W4; 35.1 g/ t Au over 2.8 metres in OSK-W-20-2325; and 36.5 g/t Au over 2.1 metres in OSK-W-20-2283-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com

 

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-847-W3 628.8 631.0 2.2 4.32   Caribou_2214 Caribou
including 629.5 630.0 0.5 12.9
OSK-W-20-852-W4 548.0 550.0 2.0 8.55   Caribou_2524 Caribou
OSK-W-20-2256-W7 881.0 891.5 10.5 108 30.7 Lynx_361 Triple Lynx
including 885.8 887.0 1.2 567 100
and 887.5 888.6 1.1 302 100
OSK-W-20-2271-W3 1057.6 1068.9 11.3 21.7   Lynx_330 Lynx
including 1061.8 1062.1 0.3 64.1
and 1064.0 1064.3 0.3 92.8
OSK-W-20-2283-W3 870.0 872.0 2.0 11.2   Triple Lynx Triple Lynx
including 871.1 871.5 0.4 41.8
  984.6 987.0 2.4 4.47   Triple Lynx Triple Lynx
including 985.5 986.0 0.5 20.5
  991.4 993.5 2.1 36.5   Triple Lynx Triple Lynx
including 992.0 992.8 0.8 95.7
OSK-W-20-2287 1158.9 1161.0 2.1 7.64   Lynx_346 Lynx
OSK-W-20-2292-W4 884.3 888.8 4.5 30.9 21.7 Lynx_375 Triple Lynx
including 887.3 888.0 0.7 159 100
OSK-W-20-2301 94.7 96.7 2.0 8.14   F17_6003 F-17
including 96.0 96.7 0.7 21.6
  101.2 103.6 2.4 3.54   F17_6003 F-17
including 101.2 101.7 0.5 16.9
OSK-W-20-2306 199.5 205.3 5.8 7.48   Bobcat Bobcat
including 202.3 202.8 0.5 43.8
OSK-W-20-2313-W2 979.3 981.4 2.1 8.56   Triple Lynx Triple Lynx
including 979.8 980.2 0.4 21.8
OSK-W-20-2319 210.0 212.0 2.0 4.83   Bobcat Bobcat
OSK-W-20-2325 128.0 130.8 2.8 35.1 25.6 Mallard_5200 Mallard
including 130.1 130.8 0.7 138 100
  143.6 145.8 2.2 13.1   Mallard_5213 Mallard
OSK-W-20-2326 82.0 86.0 4.0 9.47   Mallard_5213 Mallard
including 82.0 83.0 1.0 29.5
OSK-W-20-2327 94.0 96.7 2.7 14.1   Mallard_5213 Mallard
including 96.0 96.7 0.7 33.7
OSK-W-20-2328 177.0 182.5 5.5 6.50   Caribou_2527 Caribou
OSK-W-20-2330 137.7 140.0 2.3 9.57   Mallard_5213 Mallard
including 138.8 139.4 0.6 35.1
OSK-W-20-2332 191.7 194.7 3.0 6.03   Mallard_5213 Mallard
OSK-W-20-2346 892.0 894.2 2.2 12.2   Lynx_330 Lynx
including 893.5 893.8 0.3 78.5
OSK-W-20-2354 653.3 655.9 2.6 5.39   Caribou_2233 Caribou
including 654.1 654.5 0.4 19.7
OSK-W-20-2362 137.0 139.0 2.0 4.19   Bobcat Bobcat
OSK-W-20-2377 105.0 108.0 3.0 76.7 22.7 F17_6003 F-17
including 106.0 106.4 0.4 505 100
OSK-W-20-2384 644.5 646.9 2.4 26.2   Lynx_341 Lynx
including 645.3 645.9 0.6 96.5
OSK-W-20-2389 589.0 591.0 2.0 5.72   Caribou Caribou
WST-20-0011 278.8 280.8 2.0 15.5   Lynx SW Lynx SW
WST-20-0346 29.0 31.0 2.0 4.57   Mallard_5212 Mallard
WST-20-0347 270.0 272.9 2.9 3.31   Caribou_2572 Caribou
including 272.1 272.9 0.8 11.4
WST-20-0348 237.6 239.7 2.1 7.49   Caribou_2573 Caribou
  271.5 273.5 2.0 4.68   Caribou_2572 Caribou
including 272.5 272.9 0.4 22.6
WST-20-0349 293.2 296.0 2.8 3.64   Caribou_2572 Caribou
including 294.0 295.0 1.0 9.56
WST-20-0476 154.9 157.1 2.2 4.85   Caribou_2551 Caribou
including 154.9 155.6 0.7 11.9
  172.9 175.5 2.6 3.33   Caribou_2551 Caribou
WST-20-0477 151.5 154.0 2.5 5.90   Caribou_2551 Caribou
WST-20-0480B 60.0 62.0 2.0 12.3   Mallard_5211 Mallard
WST-20-0518 168.0 170.0 2.0 4.53   Z27_1102 Zone 27
WST-20-0520 63.5 66.0 2.5 5.53   Mallard_5211 Mallard
  81.5 84.0 2.5 12.3   Mallard_5211 Mallard
including 82.4 82.7 0.3 94.8
  157.0 159.3 2.3 4.53   Z27_1102 Zone 27
  352.4 354.4 2.0 11.8   Caribou_2253 Caribou
including 352.8 353.9 1.1 21.2
WST-20-0533 96.0 98.1 2.1 7.13   Lynx_304 Lynx
including 97.2 98.1 0.9 16.6
WST-20-0534 69.0 71.0 2.0 21.4   Lynx_323 Lynx
including 70.2 71.0 0.8 53.5
WST-20-0535 46.9 49.1 2.2 5.83   Lynx_303 Lynx
including 46.9 47.5 0.6 18.1
WST-20-0536 83.0 85.0 2.0 17.9   Lynx Lynx
including 83.4 83.8 0.4 84.1
WST-20-0549 11.0 13.0 2.0 12.3   Mallard_5211 Mallard
  263.0 265.0 2.0 5.39   Caribou_2518 Caribou
  269.5 271.5 2.0 3.94   Caribou_2518 Caribou
  306.0 308.0 2.0 3.26   Caribou_2521 Caribou
including 307.2 308.0 0.8 7.40
  373.9 377.0 3.1 4.60   Caribou_2542 Caribou
WST-20-0565 11.0 13.2 2.2 11.6   Mallard_5211 Mallard
including 11.6 12.4 0.8 24.0
WST-20-0566A 306.4 311.7 5.3 9.25   Caribou_2521 Caribou
including 307.3 308.3 1.0 36.2
WST-20-0568 295.9 298.0 2.1 7.62   Lynx SW Lynx SW
including 296.6 297.4 0.8 15.7
  317.0 319.0 2.0 3.94   Lynx SW Lynx SW
including 317.7 318.1 0.4 19.5
WST-20-0582 103.1 106.0 2.9 7.01   Lynx_339 Lynx
  129.5 131.5 2.0 9.97   Lynx_311 Lynx
including 130.0 131.0 1.0 19.9
WST-20-0586 99.5 101.5 2.0 6.81   Lynx_311 Lynx
  141.0 143.1 2.1 20.0   Lynx Lynx
including 142.2 142.7 0.5 79.3
  160.0 162.5 2.5 14.4   Lynx_359 Lynx
including 161.3 161.8 0.5 54.1
WST-20-0587 165.0 167.2 2.2 3.33   Lynx_304 Lynx
including 166.6 167.2 0.6 10.9
WST-20-0589 63.5 65.6 2.1 8.09   Mallard_5211 Mallard
  330.4 332.4 2.0 6.21   Caribou_2253 Caribou

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-847-W3 334 -69 649 452645 5434429 403 2625
OSK-W-20-852-W4 330 -55 873 452874 5434552 398 2875
OSK-W-20-2256-W7 125 -51 1005 453160 5435686 411 3675
OSK-W-20-2271-W3 120 -53 1235 453462 5435683 410 3950
OSK-W-20-2283-W3 135 -50 1004 452997 5435607 425 3500
OSK-W-20-2287 116 -53 1406 453607 5435714 404 4075
OSK-W-20-2292-W4 125 -54 984 453035 5435561 420 3525
OSK-W-20-2301 149 -49 140 452696 5435534 410 3200
OSK-W-20-2306 152 -55 531 452872 5435155 409 3175
OSK-W-20-2313-W2 134 -52 1047 452965 5435583 420 3450
OSK-W-20-2319 141 -50 768 452872 5435153 409 3175
OSK-W-20-2325 331 -53 171 451946 5434809 406 2200
OSK-W-20-2326 335 -50 156 451920 5434828 403 2175
OSK-W-20-2327 334 -49 132 451899 5434812 401 2150
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2330 333 -48 156 451912 5434792 402 2150
OSK-W-20-2332 335 -49 222 452019 5434790 406 2250
OSK-W-20-2346 130 -53 1161 453397 5435557 413 3825
OSK-W-20-2354 336 -60 759 452739 5434474 401 2725
OSK-W-20-2362 350 -45 256 452719 5434777 398 2850
OSK-W-20-2377 132 -49 1326 452702 5435548 409 3225
OSK-W-20-2384 127 -52 1164 453397 5435557 413 3825
OSK-W-20-2389 328 -57 701 452689 5434635 398 2750
WST-20-0011 157 -54 451 453105 5435065 231 3325
WST-20-0346 136 -18 391 452282 5434975 264 2575
WST-20-0347 134 -14 369 452282 5434975 264 2575
WST-20-0348 127 -14 311 452282 5434976 264 2575
WST-20-0349 140 -19 378 452282 5434975 263 2575
WST-20-0476 132 -33 403 452282 5434975 263 2575
WST-20-0477 131 -30 394 452282 5434976 263 2575
WST-20-0480B 142 -52 382 452281 5434975 262 2575
WST-20-0518 135 -53 441 452282 5434975 263 2575
WST-20-0520 133 -46 388 452281 5434975 263 2575
WST-20-0533 143 -26 133 453315 5435165 124 3575
WST-20-0534 143 -32 135 453315 5435165 124 3575
WST-20-0535 143 -37 138 453315 5435165 124 3575
WST-20-0536 132 -27 135 453316 5435166 124 3575
WST-20-0549 141 -13 396 452208 5434898 249 2475
WST-20-0565 134 -12 354 452208 5434898 249 2475
WST-20-0566A 133 -16 368 452208 5434898 248 2475
WST-20-0568 158 -58 493 453104 5435065 231 3325
WST-20-0582 176 -56 144 453177 5435125 173 3425
WST-20-0586 167 -13 193 453418 5435305 69 3725
WST-20-0587 145 -43 205 453418 5435305 69 3725
WST-20-0589 147 -55 376 452281 5434975 263 2575

 

Lynx Zone

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

 

Triple Lynx

Mineralization occurs as quartz-carbonate-pyrite-tourmaline vein-type associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone: pyrite dominated with minor other sulphides ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

Zone 27

Mineralization is typically characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, and local quartz-carbonate veins. Local visible gold is observed as small specks or clusters with quartz veins. Alteration consists of moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite. Mineralization is hosted in strongly altered andesites or in or at the contact of the rhyolite.

 

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

 

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

 

Bobcat

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

 

Qualified Person

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

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, QualityAssurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

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

 

OSISKO WINDFALL INFILL DRILLING

New Intercepts Include 90.5 g/t Au Over 9.7 Metres in Triple Lynx

(Toronto, January 18, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Broken record alert, infill drilling continues to show both the continuity and high-grade nature of Lynx, consistently returning good results on grade and widths as demonstrated by today’s headline hole.  We are advancing our work on the deposit at full speed, with over 35 drills active on surface and underground.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 46 intercepts in 17 drill holes and 14 wedges.

Selected high-grade intercepts from the new results include: 90.5 g/t Au over 9.7 meters in OSK-W-20-2252-W7; 59.5 g/t Au over 2.0 metres in OSK-W-20-2292-W5; 38.4 g/t Au over 5.5 meters in OSK-W-20-2252-W8; 37.1 g/t Au over 2.0 metres in WST-20-0542A; 32.2 g/t Au over 3.7 metres in OSK-W-20-2243-W6. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2139-W12 913.0 915.0 2.0 3.96   Lynx_361 Triple Lynx
OSK-W-20-2243-W6 925.2 928.9 3.7 32.2   Triple Lynx Triple Lynx
including 927.2 928.2 1.0 55.2
OSK-W-20-2252-W7 861.3 866.6 5.3 4.54   Triple Lynx Triple Lynx
including 866.3 866.6 0.3 16.6
871.0 876.0 5.0 5.45   Triple Lynx Triple Lynx
900.0 909.7 9.7 90.5 32.3 Lynx_371 Triple Lynx
including 904.7 905.2 0.5 324 100
and 905.6 906.2 0.6 725 100
911.2 913.3 2.1 7.79   Lynx_361 Triple Lynx
including 912.1 912.4 0.3 33.7
961.9 964.0 2.1 13.7   Lynx_363 Triple Lynx
including 962.8 963.1 0.3 75.9
987.0 989.3 2.3 3.76   Lynx_364 Triple Lynx
OSK-W-20-2252-W8 877.0 879.0 2.0 4.30   Lynx_371 Triple Lynx
921.8 924.1 2.3 23.7   Lynx_361 Triple Lynx
including 922.8 923.4 0.6 62.1
967.0 972.5 5.5 38.4   Lynx_363 Triple Lynx
including 969.6 970.6 1.0 91.7
and 970.6 971.6 1.0 69.5
OSK-W-20-2271-W2 1038.0 1040.0 2.0 3.79   Lynx_330 Lynx
OSK-W-20-2275 756.0 758.0 2.0 4.76   Triple Lynx Triple Lynx
OSK-W-20-2275-W3 864.7 867.2 2.5 3.68   Triple Lynx Triple Lynx
OSK-W-20-2275-W4 933.9 936.2 2.3 3.62   Triple Lynx Triple Lynx
OSK-W-20-2280-W3 1039.0 1041.0 2.0 4.33   Lynx_363 Triple Lynx
including 1039.6 1039.9 0.3 26.3
1045.0 1047.0 2.0 4.58   Lynx_363 Triple Lynx
including 1046.2 1046.5 0.3 28.8
OSK-W-20-2280-W4 1124.0 1129.0 5.0 7.04   Lynx_370 Triple Lynx
including 1125.3 1125.8 0.5 30.0
OSK-W-20-2280-W5 888.7 890.7 2.0 19.2   Triple Lynx Triple Lynx
including 890.1 890.7 0.6 62.3
OSK-W-20-2283-W1 826.0 828.0 2.0 3.91   Triple Lynx Triple Lynx
OSK-W-20-2283-W6 844.8 847.0 2.2 3.62   Triple Lynx Triple Lynx
including 844.8 845.3 0.5 13.0
OSK-W-20-2292-W5 1039.0 1041.0 2.0 59.5 20.3 Triple Lynx Triple Lynx
including 1039.4 1039.8 0.4 296 100
OSK-W-20-2292-W6 884.4 886.5 2.1 8.95   Triple Lynx Triple Lynx
OSK-W-20-2345 144.2 150.0 5.8 4.23   Lynx_355 Lynx
OSK-W-20-2350 112.5 115.0 2.5 22.9 20.6 Lynx_335 Lynx
including 113.5 113.9 0.4 115 100
137.0 139.0 2.0 16.3 15.8 Lynx_355 Lynx
including 137.5 137.8 0.3 103 100
OSK-W-20-2363 686.0 688.0 2.0 3.82   Lynx_365 Triple Lynx
WST-20-0011 295.4 297.6 2.2 3.66   Lynx SW Lynx
including 296.4 297.0 0.6 11.4
WST-20-0490 114.0 116.1 2.1 28.1 27.7 Lynx_339 Lynx
including 115.4 115.8 0.4 102 100
294.3 296.4 2.1 5.57   Triple Lynx Triple Lynx
including 295.7 296.1 0.4 21.7
WST-20-0498 142.0 144.0 2.0 3.38   Lynx Lynx
WST-20-0503 54.0 56.0 2.0 3.76   Lynx_311 Lynx
WST-20-0505A 280.0 282.0 2.0 3.19   Lynx SW Lynx SW
WST-20-0516 168.0 170.0 2.0 23.8   Lynx_359 Lynx
including 168.5 169.3 0.8 43.0
WST-20-0525 159.7 161.8 2.1 10.8   Lynx_359 Lynx
including 160.3 160.6 0.3 52.7
WST-20-0536 91.0 93.0 2.0 14.2   Lynx_304 Lynx
including 91.7 92.1 0.4 66.9
98.0 100.0 2.0 13.5   Lynx_304 Lynx
including 98.6 98.9 0.3 83.8
111.0 113.0 2.0 8.90   Lynx_359 Lynx
including 111.8 112.6 0.8 22.2
117.0 119.0 2.0 3.26   Lynx_359 Lynx
WST-20-0537 99.8 101.9 2.1 5.28   Lynx_304 Lynx
WST-20-0542A 46.9 49.1 2.2 30.3   Lynx_303 Lynx
including 46.9 47.6 0.7 94.0
64.3 66.3 2.0 37.1   Lynx_323 Lynx
including 65.2 66.3 1.1 63.3
WST-20-0545 95.7 98.0 2.3 18.1   Lynx_304 Lynx
124.0 127.1 3.1 10.6   Lynx_359 Lynx
including 126.6 127.1 0.5 46.2  
WST-20-0569 243.0 245.0 2.0 13.7   Lynx SW Lynx SW
including 243.8 244.2 0.4 67.3  
WST-20-0571 413.0 415.0 2.0 6.65   Lynx SW Lynx SW
including 413.0 414.0 1.0 13.3

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.

SW= Southwest

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2139-W12 115 -52 1038 452980 5435549 420 3450
OSK-W-20-2243-W6 122 -54 965 453086 5435526 417 3550
OSK-W-20-2252-W7 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2252-W8 129 -54 1239 453241 5435694 415 3750
OSK-W-20-2271-W2 120 -53 1223 453462 5435683 410 3950
OSK-W-20-2275 127 -49 1094 452888 5435583 409 3400
OSK-W-20-2275-W3 127 -49 1050 452888 5435583 409 3400
OSK-W-20-2275-W4 127 -49 1052 452888 5435583 409 3400
OSK-W-20-2280-W3 127 -58 1191 453304 5435639 415 3775
OSK-W-20-2280-W4 127 -58 1215 453304 5435639 415 3775
OSK-W-20-2280-W5 127 -58 1134 453304 5435639 415 3775
OSK-W-20-2283-W1 135 -50 1035 452997 5435607 425 3500
OSK-W-20-2283-W6 135 -50 957 452997 5435607 425 3500
OSK-W-20-2292-W5 125 -54 1134 453035 5435561 420 3525
OSK-W-20-2292-W6 125 -54 1110 453035 5435561 420 3525
OSK-W-20-2345 336 -62 162 452828 5434780 397 2950
OSK-W-20-2350 324 -62 177 452854 5434793 397 2975
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
WST-20-0011 157 -54 451 453105 5435065 231 3325
WST-20-0490 160 -31 430 453256 5435209 97 3525
WST-20-0498 132 -11 169 453228 5435126 136 3475
WST-20-0503 148 6 99 453105 5435065 232 3325
WST-20-0505A 183 -45 331 453227 5435125 134 3475
WST-20-0516 168 -33 195 453418 5435305 69 3725
WST-20-0525 165 -20 187 453418 5435305 69 3725
WST-20-0536 132 -27 135 453316 5435166 124 3575
WST-20-0537 132 -32 139 453316 5435166 124 3575
WST-20-0542A 156 -30 138 453315 5435165 124 3550
WST-20-0545 112 -24 148 453316 5435166 124 3575
WST-20-0569 165 -59 526 453104 5435065 231 3325
WST-20-0571 167 -55 465 453104 5435065 231 3325

 

Lynx Zone

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

 

Triple Lynx

Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

Qualified Person

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

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, QualityAssurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

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