Category: Windfall
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
- 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.
- The Windfall mineral resource estimate is compliant with the November 29, 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.
- These mineral resources are not mineral reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these resources as Indicated or Measured; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction. Isolated and discontinuous blocks above the stated cut-off grade are excluded from the mineral resource estimate. Must-take material, i.e. isolated blocks below cut-off grade located within a potentially mineable volume, was included in the mineral resource estimate.
- 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.
- All core assays reported by Osisko were obtained by analytical methods described below under “Quality Control and Reporting Protocols”.
- 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.
- 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.
- 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.
- 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.
- 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.
- Density values of 2.8 were applied to the mineralized zones.
- 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. - 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.
- Estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonne x grade / 31.10348).
- 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.
- 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