OSISKO WINDFALL DRILLING STEPS OUT INTO MORE … GOLD

New Intercepts Include 344 g/t Au Over 2.2 Metres in Triple Lynx

(Toronto, January 11, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Today’s new intersections are all from outside the published 2020 resource area and highlight the strong upside growth potential of our deposit. Step-out drilling remains focused on the open down plunge areas of known mineralized corridors in the Lynx area as well as some other high potential areas.”

The table below shows intercepts located outside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). These intercepts either expand the resource wireframes or are located in a defined zone/corridor but not yet correlated to a specific wireframe. Significant new analytical results are presented below and include 80 intercepts in 27 drill holes and 22 wedges.

Selected high-grade intercepts from the new results include: 344 g/t Au over 2.2 metres in OSK-W-20-2313-W2; 114 g/t Au over 2.6 metres in OSK-W-20-2280-W5; 90.2 g/t Au over 2.0 metres in WST-20-0380; 74.2 g/t Au over 2.2 metres in OSK-W-19-1949-W3; and 26.7 g/t Au over 7.0 metres in WST-20-0078. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-19-1949-W3 737.4 739.6 2.2 74.2 47 Lynx Lynx
including 737.4 737.8 0.4 133 100
and 737.8 738.3 0.5 194 100
OSK-W-20-2133-W4 946.6 951.7 5.1 3.47   Lynx_331 Lynx
956.7 960.1 3.4 23.2   Lynx_331 Lynx
including 957.7 958.7 1.0 60.6
OSK-W-20-2139-W12 873.4 875.4 2.0 10.2   Triple Lynx Triple Lynx
998.0 1000.0 2.0 5.67   Triple Lynx Triple Lynx
OSK-W-20-2170-W6 1367.8 1370.0 2.2 6.61   Lynx 4 Lynx
1379.0 1381.0 2.0 14.5   Lynx 4 Lynx
OSK-W-19-2182 97.0 99.0 2.0 9.65   Lynx Lynx
OSK-W-20-2251 1836.0 1838.0 2.0 21.0 20.3 Triple Lynx Triple Lynx
including 1836.9 1837.3 0.4 104 100
1908.6 1910.6 2.0 5.24   Triple Lynx Triple Lynx
including 1908.6 1909.2 0.6 15.9
OSK-W-20-2251-W1 2112.0 2114.0 2.0 8.45   Lynx 4 Lynx
OSK-W-20-2252-W4 1059.0 1061.0 2.0 12.5   Triple Lynx Triple Lynx
1100.2 1104.9 4.7 6.74   Triple Lynx Triple Lynx
including 1100.2 1100.6 0.4 22.7
and 1104.3 1104.9 0.6 33.2
1109.4 1113.6 4.2 19.2   Triple Lynx Triple Lynx
including 1111.0 1111.7 0.7 40.6
OSK-W-20-2252-W5 1017.7 1020.0 2.3 8.54   Triple Lynx Triple Lynx
including 1018.5 1019.0 0.5 35.3
OSK-W-20-2256-W6 1051.0 1054.0 3.0 12.0   Triple Lynx Triple Lynx
including 1052.1 1053.0 0.9 37.7
OSK-W-20-2264 814.8 821.8 7.0 11.7   Lynx 4 Lynx
including 816.3 816.8 0.5 31.4
and 818.8 819.6 0.8 57.5
863.3 865.3 2.0 6.29   Lynx 4 Lynx
OSK-W-20-2271-W1 752.1 754.2 2.1 5.05   Lynx Lynx
784.3 786.5 2.2 4.38   Lynx Lynx
840.1 842.2 2.1 4.57   Lynx Lynx
including 841.9 842.2 0.3 19.7
1032.0 1034.0 2.0 26.3   Lynx 4 Lynx
including 1033.0 1033.5 0.5 97.5
1049.0 1051.0 2.0 7.98   Lynx Lynx
OSK-W-20-2271-W2 814.0 816.9 2.9 6.00   Lynx Lynx
OSK-W-20-2280-W2 1059.8 1062.0 2.2 30.7   Triple Lynx Triple Lynx
including 1060.8 1062.0 1.2 53.2
OSK-W-20-2280-W5 976.8 979.4 2.6 114 29.3 Lynx_368 Triple Lynx
including 976.8 977.5 0.7 416 100
1070.0 1074.0 4.0 22.0   Triple Lynx Triple Lynx
including 1072.3 1073.2 0.9 52.3
OSK-W-20-2283-W2 945.0 947.0 2.0 15.7   Triple Lynx Triple Lynx
including 946.0 947.0 1.0 31.1
OSK-W-20-2292-W1 559.2 561.5 2.3 11.6   Triple Lynx Triple Lynx
1014.6 1016.6 2.0 5.46   Triple Lynx Triple Lynx
1115.0 1117.0 2.0 4.39   Triple Lynx Triple Lynx
1122.6 1125.0 2.4 12.6   Triple Lynx Triple Lynx
including 1123.8 1124.5 0.7 28.1
OSK-W-20-2292-W2 560.0 562.0 2.0 6.43   Triple Lynx Triple Lynx
including 560.0 560.5 0.5 21.2
OSK-W-20-2295-W1 477.6 479.7 2.1 20.4   Lynx_365 Triple Lynx
including 477.9 478.5 0.6 69.8
805.0 807.0 2.0 17.5   Triple Lynx Triple Lynx
including 805.5 806.4 0.9 36.3
OSK-W-20-2295-W2 477.0 479.1 2.1 3.60   Lynx_365 Triple Lynx
826.2 828.2 2.0 13.0   Triple Lynx Triple Lynx
including 827.6 828.2 0.6 38.3
OSK-W-20-2295-W3 689.0 691.0 2.0 7.23   Triple Lynx Triple Lynx
including 689.5 690.0 0.5 27.4
OSK-W-20-2295-W4 757.0 759.3 2.3 4.08   Triple Lynx Triple Lynx
including 757.0 757.5 0.5 10.1
1026.0 1028.1 2.1 16.3   Triple Lynx Triple Lynx
including 1027.6 1028.1 0.5 65.5
OSK-W-20-2313 864.0 870.0 6.0 5.58   Triple Lynx Triple Lynx
including 864.0 864.6 0.6 23.8
1035.4 1037.6 2.2 13.0   Triple Lynx Triple Lynx
including 1036.4 1037.0 0.6 47.4
OSK-W-20-2313-W2 645.8 648.0 2.2 344 13.7 Triple Lynx Triple Lynx
including 647.1 647.4 0.3 2520 100
OSK-W-20-2313-W3 849.7 852.0 2.3 12.9   Triple Lynx Triple Lynx
including 850.2 850.5 0.3 98.8
OSK-W-20-2313-W6 730.0 732.0 2.0 4.13   Triple Lynx Triple Lynx
OSK-W-20-2317 621.0 623.0 2.0 7.24   Triple Lynx Triple Lynx
662.0 664.2 2.2 3.81   Triple Lynx Triple Lynx
including 663.7 664.2 0.5 13.1
741.0 743.4 2.4 5.05   Triple Lynx Triple Lynx
including 741.8 742.4 0.6 19.8
OSK-W-20-2319 514.0 516.7 2.7 19.1   Lynx Lynx
including 514.0 514.4 0.4 88.7
589.4 591.9 2.5 21.9 20.7 Lynx Lynx
including 591.4 591.9 0.5 106 100
OSK-W-20-2328 525.0 527.0 2.0 6.68   Lynx SW Lynx SW
including 525.0 526.0 1.0 13.1
669.0 671.7 2.7 6.43   Lynx SW Lynx SW
including 670.4 670.7 0.3 45.8
859.5 861.5 2.0 9.69   Lynx 4 Lynx
including 860.4 861.0 0.6 31.1
OSK-W-20-2334 728.0 730.3 2.3 7.87   Lynx Lynx
OSK-W-20-2339 933.0 935.0 2.0 5.27   Triple Lynx Triple Lynx
944.0 946.0 2.0 5.05   Triple Lynx Triple Lynx
OSK-W-20-2351 699.0 701.0 2.0 9.84   Lynx_376 Triple Lynx
including 699.7 700.2 0.5 37.6
OSK-W-20-2353 978.8 981.0 2.2 3.80   Triple Lynx Triple Lynx
including 978.8 979.3 0.5 11.6
  1295.2 1297.3 2.1 4.49   Triple Lynx Triple Lynx
OSK-W-20-2370 109.1 111.6 2.5 3.80   Lynx SW Lynx SW
WST-20-0012D 305.6 308.0 2.4 4.47   Lynx SW Lynx SW
317.0 319.0 2.0 18.0   Lynx SW Lynx SW
including 317.6 318.3 0.7 48.7
394.5 396.5 2.0 6.59   Lynx SW Lynx SW
including 395.3 395.9 0.6 21.4
WST-20-0078 263.4 270.4 7.0 26.7   Triple Lynx Triple Lynx
310.6 312.9 2.3 4.83   Triple Lynx Triple Lynx
417.0 419.1 2.1 3.46   Lynx SW Lynx SW
WST-20-0330 383.8 386.1 2.3 5.00   Lynx SW Lynx SW
including 385.2 385.6 0.4 28.6
WST-20-0380 14.0 16.0 2.0 90.2 50.2 Lynx Lynx
including 15.0 16.0 1.0 180 100
WST-20-0401 141.0 143.0 2.0 4.33   Lynx_301 Lynx
WST-20-0425 59.0 61.7 2.7 3.73   Lynx Lynx
WST-20-0475 155.0 157.6 2.6 16.6   Lynx_301 Lynx
including 155.7 156.3 0.6 65.6
WST-20-0482 38.0 40.4 2.4 4.25   Lynx Lynx
WST-20-0485 44.2 46.4 2.2 3.97   Lynx_325 Lynx
WST-20-0489 277.0 279.0 2.0 6.36   Triple Lynx Triple Lynx
WST-20-0516 106.0 108.0 2.0 5.56   Lynx Lynx
WST-20-0523A 310.0 312.0 2.0 7.57   Lynx SW Lynx SW
WST-20-0529 214.8 217.4 2.6 8.53   Lynx Lynx
including 215.5 215.8 0.3 19.0
227.9 230.1 2.2 8.48   Lynx Lynx
including 227.9 228.4 0.5 28.0
WST-20-0541 116.1 118.2 2.1 8.87   Lynx_359 Lynx
including 116.1 116.7 0.6 30.4
WST-20-0546A 234.0 238.0 4.0 4.10   Lynx SW Lynx SW
including 237.7 238.0 0.3 17.6

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

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-1949-W3 105 -57 1326 453440 5435479 401 3825
OSK-W-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2139-W12 115 -52 1038 452980 5435549 420 3450
OSK-W-20-2170-W6 128 -59 1407 453425 5435657 413 3900
OSK-W-19-2182 132 -50 141 453505 5435428 399 3850
OSK-W-20-2251 96 -53 2053 453261 5435936 407 3900
OSK-W-20-2251-W1 96 -53 2278 453261 5435936 407 3900
OSK-W-20-2252-W4 129 -54 1143 453241 5435694 415 3750
OSK-W-20-2252-W5 129 -54 1092 453241 5435694 415 3750
OSK-W-20-2256-W6 125 -51 1157 453160 5435686 411 3675
OSK-W-20-2264 292 -74 1119 454127 5435062 396 4225
OSK-W-20-2271-W1 120 -53 1200 453462 5435683 410 3950
OSK-W-20-2271-W2 120 -53 1223 453462 5435683 410 3950
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2280-W5 127 -58 1134 453304 5435639 415 3775
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-20-2292-W1 125 -54 1149 453035 5435561 420 3525
OSK-W-20-2292-W2 125 -54 1002 453035 5435561 420 3525
OSK-W-20-2295-W1 132 -51 960 452933 5435473 415 3375
OSK-W-20-2295-W2 132 -51 963 452933 5435473 415 3375
OSK-W-20-2295-W3 132 -51 969 452933 5435473 415 3375
OSK-W-20-2295-W4 132 -51 1082 452933 5435473 415 3375
OSK-W-20-2313 134 -52 1080 452965 5435583 420 3450
OSK-W-20-2313-W2 134 -52 1047 452965 5435583 420 3450
OSK-W-20-2313-W3 134 -52 1041 452965 5435583 420 3450
OSK-W-20-2313-W6 134 -52 1029 452965 5435583 420 3450
OSK-W-20-2317 129 -55 900 453026 5435407 412 3425
OSK-W-20-2319 141 -50 768 452872 5435153 409 3175
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2334 125 -53 1166 453397 5435557 413 3825
OSK-W-20-2339 144 -50 1025 452961 5435441 414 3400
OSK-W-20-2351 141 -49 1107 452895 5435539 410 3375
OSK-W-20-2353 129 -50 1338 452732 5435570 405 3250
OSK-W-20-2370 351 -46 297 452721 5434747 397 2850
WST-20-0012D 174 -62 465 453226 5435126 134 3475
WST-20-0078 154 -62 525 453227 5435125 134 3475
WST-20-0330 183 -34 422 453226 5435125 135 3475
WST-20-0380 159 11 85 453228 5435126 136 3475
WST-20-0401 159 29 162 453493 5435287 119 3775
WST-20-0425 161 18 166 453358 5435208 156 3625
WST-20-0475 135 41 174 453494 5435287 120 3775
WST-20-0482 165 9 181 453449 5435264 117 3725
WST-20-0485 148 -44 181 453359 5435209 154 3625
WST-20-0489 174 -31 415 453256 5435209 96 3525
WST-20-0516 168 -33 195 453418 5435305 69 3725
WST-20-0523A 166 -46 387 453104 5435065 231 3325
WST-20-0529 305 -42 426 453414 5435310 69 3725
WST-20-0541 150 -28 138 453315 5435165 124 3575
WST-20-0546A 175 -51 484 453228 5435126 135 3475

Lynx Zone

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

 

Triple Lynx

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

 

Qualified Person

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

 

 

Quality Control and Reporting Protocols

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

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO WINDFALL INFILL DRILLING: STILL GOOD

New Intercepts Include 206 g/t Au over 2.0 Metres

(Toronto, January 6, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit, with the near-term objective of completion of the infill program in preparation for feasibility work. Osisko Chief Executive Officer John Burzynski commented: “We anticipate a busy year ahead as we maintain the steady drill pace of 2020 and work towards the completion of infilling our resource. The principal mineralized zones also remain open down plunge, and near deposit exploration is continuing to give encouraging results, which we believe will lead to new mineralized extensions and additions.”

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 90 intercepts in 25 drill holes and 23 wedges.

Selected high-grade intercepts from the new results include: 206 g/t Au over 2.0 metres in WST-20-0581; 60.0 g/t Au over 2.0 metres in WST-20-0498; 52.9 g/t Au over 2.8 metres in WST-20-0513; 47.5 g/t Au over 2.2 metres in OSK-W-20-2334; 42.4 g/t Au over 2.3 metres in WST-20-0523A; 40.4 g/t Au over 3.6 metres in OSK-W-20-2133-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2133-W4 798.8 802.4 3.6 40.4   Triple Lynx Triple Lynx
including 799.2 800.2 1.0 73.3
OSK-W-20-2243-W6 804.7 806.8 2.1 9.02   Lynx_361 Triple Lynx
851.4 854.8 3.4 23.5   Triple Lynx Triple Lynx
including 853.1 853.9 0.8 68.9
OSK-W-20-2252-W7 842.6 849.0 6.4 6.93   Triple Lynx Triple Lynx
including 844.8 845.1 0.3 41.7
879.1 881.8 2.7 4.62   Lynx_371 Triple Lynx
including 879.4 879.7 0.3 16.0
885.0 889.0 4.0 4.70   Lynx_371 Triple Lynx
  893.9 896.7 2.8 5.67   Lynx_371 Triple Lynx
  919.7 923.0 3.3 4.45   Lynx_361 Triple Lynx
including 919.7 920.0 0.3 13.3
OSK-W-20-2256-W4 1012.0 1014.0 2.0 14.6   Triple Lynx Triple Lynx
OSK-W-20-2256-W6 868.8 872.6 3.8 24.4   Lynx_371 Triple Lynx
including 869.7 870.3 0.6 79.5
  875.0 879.0 4.0 4.91   Lynx_371 Triple Lynx
  883.0 892.0 9.0 18.2   Lynx_361 Triple Lynx
including 887.6 888.3 0.7 57.6
OSK-W-20-2256-W7 869.4 872.0 2.6 4.86   Lynx_361 Triple Lynx
899.0 901.0 2.0 15.4   Triple Lynx Triple Lynx
including 899.6 900.0 0.4 69.4
OSK-W-20-2264 782.2 790.0 7.8 10.5   Lynx_330 Lynx
including 786.9 787.6 0.7 38.4
OSK-W-20-2271-W1 847.5 849.5 2.0 4.50   Lynx Lynx
OSK-W-20-2271-W2 1024.5 1026.9 2.4 32.1   Lynx_330 Lynx
including 1026.6 1026.9 0.3 90.1
1064.0 1066.1 2.1 6.13   Lynx_334 Lynx
including 1065.2 1065.6 0.4 20.3
1077.0 1079.0 2.0 5.15   Lynx_334 Lynx
OSK-W-20-2275-W3 899.0 901.0 2.0 10.8   Triple Lynx Triple Lynx
including 900.3 900.7 0.4 43.3
OSK-W-20-2275-W4 635.0 637.1 2.1 7.18   Lynx_365 Triple Lynx
including 636.1 636.5 0.4 25.6
804.8 810.4 5.6 11.8   Triple Lynx Triple Lynx
including 806.3 806.9 0.6 55.1
835.0 837.0 2.0 11.1   Triple Lynx Triple Lynx
including 835.6 836.0 0.4 54.7
889.5 892.0 2.5 5.40   Triple Lynx Triple Lynx
including 890.4 891.0 0.6 22.4
OSK-W-20-2280-W2 1102.7 1105.0 2.3 5.46   Lynx_370 Triple Lynx
including 1103.5 1104.0 0.5 20.9
OSK-W-20-2280-W3 1099.2 1101.3 2.1 5.22   Triple Lynx Triple Lynx
including 1101.0 1101.3 0.3 17.7
1103.0 1108.9 5.9 4.92   Triple Lynx Triple Lynx
including 1108.6 1108.9 0.3 18.2
1112.9 1116.0 3.1 20.1   Lynx_370 Triple Lynx
including 1112.9 1113.5 0.6 77.8
OSK-W-20-2280-W4 1040.0 1042.0 2.0 6.32   Triple Lynx Triple Lynx
  1044.0 1046.0 2.0 4.83   Triple Lynx Triple Lynx
including 1044.6 1044.9 0.3 24.6   Triple Lynx Triple Lynx
  1072.9 1077.5 4.6 12.8   Triple Lynx Triple Lynx
including 1075.5 1075.9 0.4 97.2  
  1091.2 1098.0 6.8 3.96   Triple Lynx Triple Lynx
  1100.7 1105.0 4.3 13.5 12.7 Lynx_364 Triple Lynx
including 1100.7 1101.0 0.3 112 100
  1109.7 1114.0 4.3 16.9 15.7 Lynx_364 Triple Lynx
including 1109.7 1110.0 0.3 117 100
OSK-W-20-2280-W5 1010.5 1016.0 5.5 3.61   Lynx_363 Triple Lynx
1039.0 1041.0 2.0 22.4   Lynx_364 Triple Lynx
including 1039.5 1040.0 0.5 81.8
1046.0 1052.0 6.0 30.4 23.7 Lynx_364 Triple Lynx
including 1047.8 1049.0 1.2 129 95
1054.0 1059.9 5.9 14.7   Lynx_364 Triple Lynx
including 1059.2 1059.9 0.7 82.8
1093.0 1096.0 3.0 12.0   Triple Lynx Triple Lynx
OSK-W-20-2283-W1 807.0 809.6 2.6 8.20   Triple Lynx Triple Lynx
including 807.5 809.6 2.1 9.02
OSK-W-20-2283-W2 814.8 817.1 2.3 8.16   Triple Lynx Triple Lynx
including 816.6 817.1 0.5 26.8
  832.7 835.0 2.3 6.13   Triple Lynx Triple Lynx
  991.0 993.0 2.0 9.11   Triple Lynx Triple Lynx
including 991.3 991.8 0.5 35.7
OSK-W-20-2283-W6 831.6 836.0 4.4 17.6   Lynx_361 Triple Lynx
including 833.3 834.6 1.3 40.6
OSK-W-20-2292-W4 892.0 894.9 2.9 4.02   Lynx_375 Triple Lynx
including 893.1 893.8 0.7 10.3
OSK-W-20-2295-W2 679.7 682.0 2.3 24.7 17.4 Triple Lynx Triple Lynx
including 681.7 682.0 0.3 157 100
OSK-W-20-2295-W3 660.3 662.3 2.0 3.89   Triple Lynx Triple Lynx
OSK-W-20-2295-W4 670.1 673.1 3.0 5.99   Triple Lynx Triple Lynx
including 670.1 670.6 0.5 16.6
698.0 700.1 2.1 4.33   Triple Lynx Triple Lynx
including 699.8 700.1 0.3 23.7
  757.0 759.3 2.3 4.08   Triple Lynx Triple Lynx
including 757.0 757.5 0.5 10.1
822.5 824.5 2.0 3.90   Triple Lynx Triple Lynx
including 823.5 824.0 0.5 14.1
841.0 843.0 2.0 5.77   Triple Lynx Triple Lynx
including 841.4 841.7 0.3 31.5
OSK-W-20-2313-W5 819.9 822.0 2.1 7.49   Lynx_376 Triple Lynx
OSK-W-20-2322-W1 1119.8 1124.6 4.8 7.20   Lynx_330 Lynx
including 1120.5 1121.2 0.7 13.8
OSK-W-20-2334 1007.1 1009.3 2.2 47.5 41.7 Lynx_330 Lynx
including 1008.0 1008.4 0.4 132 100
OSK-W-20-2367 59.0 62.0 3.0 6.38   Lynx_335 Lynx SW
WST-20-0406 130.2 132.4 2.2 3.26   Lynx_322 Lynx
WST-20-0486 57.5 63.7 6.2 15.1   Lynx_303 Lynx
including 58.5 59.0 0.5 47.1
and 59.7 60.1 0.4 46.1
114.0 116.0 2.0 10.5   Lynx_304 Lynx
including 115.4 116.0 0.6 27.6
WST-20-0498 123.5 125.7 2.2 3.84   Lynx_304 Lynx
132.5 134.5 2.0 60.0 41.3 Lynx_304 Lynx
including 133.8 134.5 0.7 154 100
WST-20-0502 73.4 76.0 2.6 4.73   Lynx_311 Lynx
WST-20-0503 57.9 59.9 2.0 18.6   Lynx_311 Lynx
including 57.9 58.7 0.8 46.1
WST-20-0505A 84.5 87.0 2.5 9.07   Lynx_307 Lynx
including 84.5 84.8 0.3 72.4
233.5 236.0 2.5 3.00   Lynx SW Lynx SW
WST-20-0506 123.2 125.5 2.3 7.83   Lynx_304 Lynx
including 123.9 124.7 0.8 22.4
WST-20-0509 94.4 96.5 2.1 4.24   Lynx_304 Lynx
including 94.4 94.7 0.3 13.9
WST-20-0512 48.2 50.2 2.0 8.84   Lynx_303 Lynx
including 49.3 49.9 0.6 29.1
  54.0 56.0 2.0 21.1   Lynx_311 Lynx
including 54.9 55.4 0.5 83.8
WST-20-0513 138.0 140.8 2.8 52.9 44.5 Lynx_323 Lynx
including 139.0 139.9 0.9 126 100
151.8 154.0 2.2 3.67   Lynx_304 Lynx
WST-20-0514 141.0 143.0 2.0 20.9   Lynx_323 Lynx
including 141.0 142.0 1.0 32.5
WST-20-0523A 67.2 69.4 2.2 14.8   Lynx_311 Lynx
including 67.7 68.4 0.7 44.8
72.0 74.3 2.3 42.4   Lynx_311 Lynx
including 73.5 74.3 0.8 90.4
WST-20-0525 142.0 144.0 2.0 13.3   Lynx_323 Lynx
including 142.0 143.0 1.0 26.4
WST-20-0537 84.9 87.1 2.2 6.49   Lynx Lynx
including 86.4 87.1 0.7 16.1
WST-20-0538 105.0 107.2 2.2 15.0   Lynx_304 Lynx
including 105.3 105.8 0.5 64.4
117.0 120.0 3.0 4.15   Lynx Lynx
WST-20-0539 45.9 48.2 2.3 6.89   Lynx_303 Lynx
96.6 98.6 2.0 20.6   Lynx_304 Lynx
including 97.0 97.5 0.5 80.2
WST-20-0540 51.3 53.5 2.2 3.12   Lynx_303 Lynx
111.0 113.2 2.2 7.86   Lynx_304 Lynx
including 111.0 111.3 0.3 47.2
WST-20-0541 45.8 48.1 2.3 10.0   Lynx_303 Lynx
including 46.4 47.2 0.8 25.6
60.1 62.3 2.2 13.8   Lynx Lynx
including 60.9 61.7 0.8 34.3
98.0 100.0 2.0 15.7   Lynx_304 Lynx
including 99.0 99.5 0.5 36.3
WST-20-0544 52.7 55.5 2.8 72.0 55.8 Lynx_303 Lynx
including 52.7 54.1 1.4 132 100
WST-20-0563 129.4 131.5 2.1 4.72   Lynx_365 Triple Lynx
including 129.4 130.0 0.6 15.1
WST-20-0579 58.0 60.5 2.5 5.62   Lynx_303 Lynx
WST-20-0581 268.4 274.0 5.6 4.56   Lynx SW Lynx SW
283.0 285.0 2.0 206 45.4 Lynx SW Lynx SW
including 283.0 283.9 0.9 458 100

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

 

Drill hole location

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2243-W6 122 -54 965 453086 5435526 417 3550
OSK-W-20-2252-W7 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2256-W4 125 -51 1122 453160 5435686 411 3675
OSK-W-20-2256-W6 125 -51 1157 453160 5435686 411 3675
OSK-W-20-2256-W7 125 -51 1005 453160 5435686 411 3675
OSK-W-20-2264 292 -74 1119 454127 5435062 396 4225
OSK-W-20-2271-W1 120 -53 1200 453462 5435683 410 3950
OSK-W-20-2271-W2 120 -53 1223 453462 5435683 410 3950
OSK-W-20-2275-W3 127 -49 1050 452888 5435583 409 3400
OSK-W-20-2275-W4 127 -49 1052 452888 5435583 409 3400
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2280-W3 127 -58 1191 453304 5435639 415 3775
OSK-W-20-2280-W4 127 -58 1215 453304 5435639 415 3775
OSK-W-20-2280-W5 127 -58 1134 453304 5435639 415 3775
OSK-W-20-2283-W1 135 -50 1035 452997 5435607 425 3500
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-20-2283-W6 135 -50 957 452997 5435607 425 3500
OSK-W-20-2292-W4 125 -54 984 453035 5435561 420 3525
OSK-W-20-2295-W2 132 -51 963 452933 5435473 415 3375
OSK-W-20-2295-W3 132 -51 969 452933 5435473 415 3375
OSK-W-20-2295-W4 132 -51 1082 452933 5435473 415 3375
OSK-W-20-2313-W5 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2322-W1 130 -54 1233 453608 5435715 403 4075
OSK-W-20-2334 125 -53 1166 453397 5435557 413 3825
OSK-W-20-2367 349 -46 279 452742 5434761 398 2875
WST-20-0406 135 -8 202 453494 5435287 117 3775
WST-20-0486 130 -37 162 453359 5435209 154 3625
WST-20-0498 132 -11 169 453228 5435126 136 3475
WST-20-0502 144 -40 115 453105 5435065 231 3325
WST-20-0503 148 6 99 453105 5435065 232 3325
WST-20-0505A 183 -45 331 453227 5435125 134 3475
WST-20-0506 175 20 141 453357 5435208 156 3625
WST-20-0509 126 -20 148 453316 5435166 124 3575
WST-20-0512 159 -10 139 453315 5435164 125 3575
WST-20-0513 147 -25 184 453418 5435305 69 3725
WST-20-0514 154 -26 181 453418 5435305 69 3725
WST-20-0523A 166 -46 387 453104 5435065 231 3325
WST-20-0525 165 -20 187 453418 5435305 69 3725
WST-20-0537 132 -32 139 453316 5435166 124 3575
WST-20-0538 130 -37 142 453316 5435166 124 3575
WST-20-0539 122 -29 139 453316 5435166 124 3575
WST-20-0540 129 -42 147 453316 5435166 124 3575
WST-20-0541 150 -28 138 453315 5435165 124 3575
WST-20-0544 144 -43 144 453315 5435165 124 3575
WST-20-0563 324 -40 248 453255 5435214 96 3525
WST-20-0579 162 -38 144 453315 5435165 124 3575
WST-20-0581 181 -60 474 453177 5435126 173 3425

 

 

Lynx Zone

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

 

Triple Lynx

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

 

Qualified Person

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

 

Quality Control and Reporting Protocols

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

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO WINDFALL INFILL DRILL PROGRAM 2020 TOP 20 HIT PARADE

(Toronto, December 3, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide a recap of the top 20 previously released intercepts of 2020 from its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Since the release of the February 2020 mineral resource estimate (see Osisko news release dated February 19, 2020), approximately 250,000 metres of new drilling has been completed, focused on infill and expansion drilling of the known mineralized zones at Windfall.

Osisko Chief Executive Officer John Burzynski commented: “It has been a very busy year for the Osisko exploration team, complicated by global events.  The Corporation has managed to maintain a steady pace at Windfall, significantly growing the deposit with the resource update released in February, and we expect this year’s program to further grow the deposit.  Our exploration team successfully completed the Discovery One drill hole, providing solid extensions to the Underdog and Triple 8 zones, while providing strong indications for further discovery at depth in the deposit.  The pace of drilling has increased throughout the year, with over 30 surface and underground drills on site to complete the infill program and explore extensions of the principal mineralized zones, all of which remain open down plunge.  The exploration ramp has continued to advance towards Triple Lynx for the next planned bulk sample, and at present we have eight underground rigs on the Lynx infill program. Drilling began in November on promising near-deposit exploration targets with three additional drills, and we expect to be shifting more rigs to these targets in the New Year.  Our cash balance remains very strong, with approximately $300M in cash and equity positions.”

“Osisko recognizes the essential contribution of our employees and contractors, and we wish to thank our hosts and partners in the community of Waswanipi, the Cree Nation government, the municipality of Lebel-sur-Quevillon, the Quebec government and all of our stakeholders for their strong support through what has been an unusual year.  Our achievements and success are attributable to our working relationship with our partners, and the dedication and commitment of our employees to maintaining a safe work environment.”

Osisko anticipates a busy 2021, steadily working towards the delivery of the next resource update and advancing the feasibility work for the Windfall project.

The table below presents the previously released 2020 top 20 drill intercepts from Lynx.

 

WINDFALL TOP 20 INTERCEPTS BY METAL FACTOR

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut g*metres uncut Zone
WST-20-0543 74.0 76.0 2.0 13,634 27,268 Lynx_323
OSK-W-19-1731-W2 882.7 887.3 4.6 1,475 6,785 Lynx_348
OSK-W-20-2059-W4 1038.1 1066.1 28.0 202 5,643 Lynx_348
OSK-W-19-2226 55.7 58.1 2.4 948 2,275 Lynx_311
OSK-W-20-2256-W5 858.5 873.0 14.5 86 1,250 Lynx_361
WST-20-0312 105.0 110.0 5.0 199 993 Lynx_304
OSK-W-20-2260-W1 843.0 846.0 3.0 314 941 Lynx_361
OSK-W-20-2133-W2 783.6 786 2.4 391 939 Lynx_361
OSK-W-20-2264 766.5 778.8 12.3 76 931 Lynx_334
OSK-W-20-2133-W4 928.8 939.6 10.8 85 918 Triple Lynx
OSK-W-20-2292-W1 1040.7 1043.0 2.3 395 909 Lynx_374
OSK-W-20-2170-W2 971 976.6 5.6 149 835 Lynx_363
OSK-W-20-2100-W7 933.0 935.0 2.0 415 830 Lynx_361
WST-20-0310 63.7 65.7 2.0 376 751 Lynx_311
WST-20-0569 310.5 312.7 2.2 327 719 Lynx_356
WST-20-0295 142.0 144.0 2.0 337 675 Lynx_304
OSK-W-20-2256-W2 874.7 880.3 5.6 115 642 Lynx_361
OSK-W-20-2256-W4 862.0 871.2 9.2 62 566 Lynx_361
WST-19-0234 69.2 72.6 3.4 153 520 Lynx_311
WST-20-0295 134.0 136.0 2.0 243 485 Lynx_304

 

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, present a higher percentage of pyrite than surrounding intervals or any samples exceeding 10 g/t Au. A 1-kilogram split is passed through a 75-um stainless steel screen to separate the oversize fraction. Any +75-μm material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction results. The 75μm fraction is homogenized and two 50-gram sub-samples are analyzed by fire assay with Atomic absorption finish. The average of the two atomic absorption finish is taken and reported as the Au (-) fraction result. As of August 7, 2019, the -75μm fractions have been analyzed using gravimetric finish. All three values are used in calculating the combined gold content of the plus and minus fractions. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

 

OSISKO WINDFALL INFILL DRILLING: VERY GOOD

Record Intercept of 13,634 g/t Au over 2.0 Metres

(Toronto, December 1, 2020) 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.

Infill drilling at Lynx has returned the highest-grade result at Windfall to date of 13,634 g/t Au over 2.0 metres including 90,700 g/t Au over 0.3 metres in hole WST-20-0543. This infill hole from the definition program is located 70 metres down plunge from WST-20-0310 (376 g/t Au over 2.0 metres, see Osisko news release dated June 23, 2020) and confirms the continuity of the Lynx 323 wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s spectacular result, certainly one the highest gold grades in terms of metal factor (grade x width) ever reported, continues to demonstrate the exceptional high-grade characteristics of Lynx.  Our infill drilling program continues to show the strength of our deposit, and is confirming both the continuity and high-grade nature of Windfall.  We encourage people to go to our social media page or website and view some of the recent photos of the spectacular visible gold in this sample and other recent drill core coming from the ongoing work at Windfall.”

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t) cut to 100 g/t Zone Corridor
WST-20-0543 74.0 76.0 2.0 13,634 30.0 Lynx Lynx_323
including 74.3 74.6 0.3 90,700 100

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
WST-20-0543 150 -40 144 453315 5435165 123 3575

 

WST-20-0543 intersected 13,634 g/t Au over 2.0 metres. Mineralization consists of up to 15% local visible gold and up to 5% disseminated pyrite hosted in an intensely silica flooded, sericitized, and strongly fuchsite altered gabbro.

 

Lynx Zone

Mineralization typically 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 occasional 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. 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, present a higher percentage of pyrite than surrounding intervals or any samples exceeding 10 g/t Au. A 1-kilogram split is passed through a 75-um stainless steel screen to separate the oversize fraction. Any +75-μm material remaining on the screen is retained and analyzed in its entirety by fire assay with gravimetric finish and reported as the Au (+) fraction results. The 75μm fraction is homogenized and two 50-gram sub-samples are analyzed by fire assay with Atomic absorption finish. The average of the two atomic absorption finish is taken and reported as the Au (-) fraction result. As of August 7, 2019, the -75μm fractions have been analyzed using gravimetric finish. All three values are used in calculating the combined gold content of the plus and minus fractions. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO INFILL DRILLING WINDFALL. GOOD.

Results Include 86.2 g/t Au over 14.5 Metres and 327 g/t Au over 2.2 Metres

(Toronto, November 24, 2020) 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: “We remain very pleased with Lynx’s consistent good results on grade and widths.”

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 27 intercepts in 10 drill holes and 9 wedges.

Selected high-grade intercepts from the new results include: 86.2 g/t Au over 14.5 metres in OSK-W-2256-W5; 327 g/t Au over 2.2 metres in WST-20-0569; 85.0 g/t Au over 10.8 metres in OSK-W-20-2133-W4; 94.9 g/t Au over 2.1 metres in WST-20-0508; and 71.3 g/t Au over 4.0 metres in OSK-W-2252-W5. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2133-W4 928.8 939.6 10.8 85.0 22.7 Lynx_331 Triple Lynx
including 931.0 933.1 2.1 420 100
OSK-W-20-2252-W5 854.7 856.9 2.2 18.6   Lynx_371 Triple Lynx
including 855.6 856.0 0.4 97.3
882.3 886.3 4.0 71.3 43.8 Lynx_371 Triple Lynx
including 884.1 884.6 0.5 234 100
and 885.9 886.3 0.4 375 100
OSK-W-20-2252-W7 943.6 950.1 6.5 36.0 25.8 Lynx_368 Triple Lynx
including 943.9 945.2 1.3 151 100
OSK-W-20-2256-W5 858.5 873.0 14.5 86.2 16.4 Lynx_361 Triple Lynx
including 868.1 868.4 0.3 230 100
and 868.4 868.7 0.3 3120 100
and 869.0 869.3 0.3 321 100
OSK-W-20-2275-W2 906.6 910.3 3.7 7.56   Triple Lynx Triple Lynx
including 909.0 909.5 0.5 25.7
OSK-W-20-2280-W2 998.4 1001.1 2.7 11.2   Lynx_368 Triple Lynx
  1027.9 1031.3 3.4 5.60   Lynx_363 Triple Lynx
including 1027.9 1028.3 0.4 28.3
OSK-W-20-2295-W2 654.0 656.0 2.0 16.1   Lynx_376 Triple Lynx
including 654.5 655.0 0.5 51.9
OSK-W-20-2295-W3 697.0 699.0 2.0 5.11   Triple Lynx Triple Lynx
including 698.1 698.5 0.4 22.8
OSK-W-20-2313-W2 986.3 988.3 2.0 6.69   Triple Lynx Triple Lynx
OSK-W-20-2339 608.3 610.5 2.2 8.59   Triple Lynx Triple Lynx
WST-20-0473 101.0 103.0 2.0 12.3   Lynx_304 Lynx
including 102.5 103.0 0.5 48.6
WST-20-0486 93.0 95.0 2.0 5.03   Lynx_323 Lynx
WST-20-0487 103.7 106.0 2.3 25.2   Lynx_359 Lynx
including 104.4 105.0 0.6 53.2
WST-20-0500 132.0 134.5 2.5 10.1   Lynx_304 Lynx
including 132.9 133.6 0.7 35.9
WST-20-0506 82.7 85.1 2.4 6.21   Lynx_311 Lynx
WST-20-0508 51.4 53.5 2.1 6.01   Lynx_311 Lynx
including 52.8 53.1 0.3 37.7
70.5 72.8 2.3 9.05   Lynx_323 Lynx
77.4 80.0 2.6 4.45   Lynx_308 Lynx
including 77.7 78.1 0.4 21.9
93.9 96.0 2.1 94.9 22.0 Lynx_304 Lynx
including 93.9 94.3 0.4 483 100
109.0 111.2 2.2 19.2   Lynx_359 Lynx
including 110.7 111.2 0.5 71.7
WST-20-0511 82.5 88.4 5.9 15.6   Lynx_308 Lynx
including 83.4 84.0 0.6 79.7
92.0 94.0 2.0 9.36   Lynx_304 Lynx
including 93.6 94.0 0.4 45.0
WST-20-0515 156.0 158.0 2.0 24.4 20.4 Lynx_323 Lynx
including 157.0 157.4 0.4 120 100
169.0 171.0 2.0 25.0 21.0 Lynx_304 Lynx
including 169.0 169.4 0.4 120 100
WST-20-0569 310.5 312.7 2.2 327 28.2 Lynx_356 Lynx
including 310.5 311.1 0.6 1195 100

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2252-W5 129 -54 1092 453241 5435694 415 3750
OSK-W-20-2252-W7 129 -54 1089 453241 5435694 415 3750
OSK-W-20-2256-W5 125 -51 1022 453160 5435686 414 3675
OSK-W-20-2275-W2 127 -49 1035 452886 5435584 409 3400
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2295-W2 132 -51 963 452938 5435472 415 3375
OSK-W-20-2295-W3 132 -51 969 452938 5435472 415 3375
OSK-W-20-2313-W2 134 -52 1047 452965 5435583 420 3450
OSK-W-20-2339 144 -50 1025 452960 5435442 415 3400
WST-20-0473 149 -16 202 453493 5435287 117 3775
WST-20-0486 130 -37 162 453359 5435209 154 3625
WST-20-0487 140 -5 177 453358 5435208 155 3625
WST-20-0500 139 -30 166 453228 5435126 135 3475
WST-20-0506 175 20 141 453357 5435208 156 3625
WST-20-0508 136 -12 138 453316 5435165 124 3575
WST-20-0511 137 8 162 453316 5435165 125 3575
WST-20-0515 158 -33 186 453418 5435305 68 3725
WST-20-0569 165 -59 526 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, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO WINDFALL INFILL DRILLING INTERSECTS SOME MORE GOLD

Including 75.7 g/t Au Over 12.3 Metres and 193 g/t Au Over 2.3 Metres

(Toronto, November 17, 2020) 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: “Lynx continues to deliver on high-grade and width with consistency, as illustrated by today’s headline intercepts of 193 g/t Au over 2.3 metres and 75.7 g/t Au over 12.3 metres.”

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 38 intercepts in 11 drill holes and 11 wedges.

Selected high-grade intercepts from the new results include: 75.7 g/t Au over 12.3 metres in OSK-W-20-2264; 193 g/t Au over 2.3 metres in OSK-W-20-2133-W3; and 37.6 g/t Au over 2.0 metres in OSK-W-20-2275-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com

 

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2133-W2 901.3 903.5 2.2 9.27   Lynx_331 Lynx
including 901.7 902.0 0.3 59.4
OSK-W-20-2133-W3 791.2 793.5 2.3 193 41.7 Triple Lynx Triple Lynx
including 792.7 793.1 0.4 972 100
  874.8 877.0 2.2 9.52   Triple Lynx Triple Lynx
including 875.8 876.3 0.5 32.5
  931.1 933.2 2.1 8.05   Triple Lynx Triple Lynx
including 932.7 933.2 0.5 20.2
OSK-W-20-2139-W11 882.9 885.0 2.1 8.33   Lynx_361 Triple Lynx
896.3 898.6 2.3 13.6   Lynx_361 Triple Lynx
including 896.3 896.6 0.3 35.3
912.2 914.4 2.2 4.36   Lynx_363 Triple Lynx
including 914.0 914.4 0.4 13.7
954.0 956.0 2.0 7.91   Lynx_369 Triple Lynx
including 954.5 955.2 0.7 20.4
OSK-W-20-2256-W5 892.1 894.1 2.0 4.85 Lynx_368 Triple Lynx
OSK-W-20-2264 766.5 778.8 12.3 75.7 21 Lynx_334 Lynx
including 773.8 774.4 0.6 1085 100
and 774.4 775.3 0.9 190 100
OSK-W-20-2275-W3 669.5 672.3 2.8 11.8   Triple Lynx Triple Lynx
including 669.5 670.2 0.7 46.5
776.7 781.0 4.3 9.73   Lynx_376 Triple Lynx
  807.5 809.5 2.0 37.6 15.5 Triple Lynx Triple Lynx
including 807.5 807.8 0.3 247 100    
OSK-W-20-2280-W2 1012.2 1014.9 2.7 7.72   Lynx_368 Triple Lynx
  1073.6 1075.6 2.0 13.9   Lynx_364 Triple Lynx
including 1074.2 1074.9 0.7 35.9
1083.0 1086.0 3.0 9.71   Lynx_364 Triple Lynx
1113.4 1115.4 2.0 4.29   Lynx_370 Triple Lynx
including 1113.7 1114.0 0.3 19.1
OSK-W-20-2280-W3 1011.0 1013.0 2.0 9.31   Lynx_368 Triple Lynx
1075.0 1078.0 3.0 10.1   Lynx_364 Triple Lynx
OSK-W-20-2283-W1 553.9 556.0 2.1 7.37   Lynx_365 Triple Lynx
including 554.5 555.3 0.8 16.7
  794.5 797.7 3.2 22.1   Triple Lynx Triple Lynx
  818.0 822.0 4.0 6.80   Triple Lynx Triple Lynx
OSK-W-20-2292-W3 817.0 819.0 2.0 4.11   Lynx_361 Triple Lynx
OSK-W-20-2295-W2 885.7 888.0 2.3 4.53   Triple Lynx Triple Lynx
OSK-W-20-2295-W3 890.7 892.7 2.0 12.7 Triple Lynx Triple Lynx
including 891.7 892.2 0.5 45.2
WST-20-0404 109.1 111.1 2.0 5.90   Lynx_304 Lynx
including 110.4 111.1 0.7 16.0
137.5 139.6 2.1 6.17   Lynx_321 Lynx
WST-20-0407 178.4 180.5 2.1 4.24   Lynx_315 Lynx
WST-20-0425 66.6 70.5 3.9 7.09   Lynx_311 Lynx
including 66.6 67.6 1.0 16.5
109.0 111.3 2.3 3.55   Lynx_304 Lynx
WST-20-0483 98.0 100.0 2.0 4.93   Lynx_304 Lynx
including 98.4 98.7 0.3 24.1
WST-20-0487 89.0 91.5 2.5 6.87   Lynx_304 Lynx
including 91.1 91.5 0.4 36.4
WST-20-0494 164.4 166.4 2.0 10.8   Lynx_301 Lynx
including 165.2 165.5 0.3 64.8
WST-20-0495 119.0 121.0 2.0 6.89   Lynx_304 Lynx
including 120.6 121.0 0.4 20.8
131.2 133.5 2.3 3.67   Lynx_321 Lynx
including 133.1 133.5 0.4 16.9
WST-20-0498 108.0 110.0 2.0 3.23   Lynx_320 Lynx
including 108.5 109.0 0.5 12.9
WST-20-0499 56.0 58.2 2.2 16.5   Lynx_311 Lynx
including 57.0 57.4 0.4 83.5
WST-20-0500 56.1 58.4 2.3 10.2   Lynx_311 Lynx
including 57.0 57.4 0.4 43.0

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-20-2133-W2 118 -49 1139 453080 5435531 417 3525
OSK-W-20-2133-W3 118 -49 965 453080 5435531 417 3525
OSK-W-20-2139-W11 115 -52 995 452980 5435549 420 3450
OSK-W-20-2256-W5 125 -51 1022 453160 5435686 414 3675
OSK-W-20-2264 292 -74 1119 454127 5435062 396 4225
OSK-W-20-2275-W3 127 -49 1050 452886 5435584 409 3400
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2280-W3 127 -58 1191 453304 5435639 415 3775
OSK-W-20-2283-W1 135 -50 1035 452997 5435607 425 3500
OSK-W-20-2292-W3 125 -54 943 453037 5435563 420 3525
OSK-W-20-2295-W2 132 -51 963 452938 5435472 415 3375
OSK-W-20-2295-W3 132 -51 969 452938 5435472 415 3375
WST-20-0404 163 -4 192 453493 5435286 117 3775
WST-20-0407 106 9 202 453495 5435288 118 3775
WST-20-0425 161 18 166 453358 5435208 156 3625
WST-20-0483 170 2 193 453449 5435264 116 3725
WST-20-0487 140 -5 177 453358 5435208 155 3625
WST-20-0494 124 0 189 453495 5435288 117 3775
WST-20-0495 165 2 184 453495 5435288 117 3775
WST-20-0498 132 -11 169 453228 5435126 136 3475
WST-20-0499 131 -21 163 453228 5435126 135 3475
WST-20-0500 139 -30 166 453228 5435126 135 3475

 

Lynx Zone

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

 

Triple Lynx

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

 

Qualified Person

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

 

Quality Control and Reporting Protocols

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

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO WINDFALL INFILL DRILLING RETURNS MORE OF THE SAME

395 g/t Au Over 2.3 Metres and 61.5 g/t Au Over 9.2 Metres

(Toronto, November 5, 2020) 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, and in particular Lynx, continues to progress well. Predictably, and with a familiar consistency, once again Lynx delivered on high-grade with our headline intercept of 395 g/t Au over 2.3 metres, and also on width with the very nice intercept of 61.5 g/t Au over 9.2 metres.”

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 33 intercepts in 16 drill holes and 7 wedges.

Selected high-grade intercepts from the new results include: 395 g/t Au over 2.3 metres OSK-W-20-2292-W1; 61.5 g/t Au over 9.2 metres and 37.0 g/t Au over 3.0 metres in OSK-W-20-2256-W4; 55.5 g/t Au over 2.5 metres in WST-20-0350 and 40.1 g/t Au over 2.8 metres in WST-20-0013. 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 905.3 907.9 2.6 28.5   Lynx_371 Triple Lynx
including 906.2 906.8 0.6 88.3
OSK-W-20-2139-W9 886.7 893.0 6.3 15.4   Lynx_371 Triple Lynx
OSK-W-20-2252-W3 865.7 867.7 2.0 11.7   Lynx_371 Triple Lynx
including 865.7 866.0 0.3 58.6
OSK-W-20-2256-W4 862.0 871.2 9.2 61.5 32.6 Lynx_361 Triple Lynx
including 863.0 864.0 1.0 281 100
and 870.0 871.2 1.2 171 100
  881.0 884.0 3.0 37.0   Lynx_361 Triple Lynx
including 882.0 883.0 1.0 86.2
OSK-W-20-2275-W2 628.9 631.0 2.1 8.18   Lynx_365 Triple Lynx
including 628.9 629.8 0.9 18.5
  800.0 802.3 2.3 3.65   Lynx_376 Triple Lynx
including 800.0 800.6 0.6 10.9
OSK-W-20-2283 935.0 937.0 2.0 18.5   Triple Lynx Triple Lynx
including 936.0 936.7 0.7 49.6
OSK-W-20-2292-W1 1040.7 1043.0 2.3 395 15.4 Lynx_374 Triple Lynx
including 1041.3 1041.6 0.3 3010 100
OSK-W-20-2292-W2 909.3 913.0 3.7 3.64   Lynx_375 Triple Lynx
OSK-W-20-2322 1090.3 1094.1 3.8 28.9   Lynx_334 Lynx
including 1090.3 1091.3 1.0 81.9  
WST-20-0011 74.3 76.4 2.1 4.68   Lynx_311 Lynx
WST-20-0012D 81.0 83.0 2.0 3.14   Lynx_311 Lynx
including 82.5 83.0 0.5 8.68
WST-20-0013 140.0 142.8 2.8 40.1 31.5 Lynx_304 Lynx
including 140.7 141.5 0.8 130 100
WST-20-0014A 100.2 102.2 2.0 5.40   Lynx_304 Lynx
WST-20-0350 128.5 131.0 2.5 55.5   Lynx_359 Lynx
including 129.2 129.9 0.7 98.8
WST-20-0352 32.3 36.0 3.7 16.2   Lynx_325 Lynx
including 35.0 36.0 1.0 46.8
  97.0 99.0 2.0 5.95   Lynx_304 Lynx
WST-20-0394 35.1 37.3 2.2 11.7   Lynx_325 Lynx
  70.8 72.8 2.0 4.15   Lynx_311 Lynx
  107.0 109.3 2.3 24.2 23.2 Lynx_304 Lynx
including 107.0 107.7 0.7 78.9 75.7
WST-20-0395 50.0 52.0 2.0 6.45   Lynx_303 Lynx
WST-20-0420 79.4 81.7 2.3 4.11   Lynx_323 Lynx
including 81.4 81.7 0.3 29.1
  150.0 152.1 2.1 19.0   Lynx_321 Lynx
including 151.2 152.1 0.9 43.5
WST-20-0422 160 162 2.0 5.90   Lynx_328 Lynx
WST-20-0482 87.9 90.0 2.1 6.00   Lynx_323 Lynx
WST-20-0484 43.1 45.5 2.4 4.80   Lynx_325 Lynx
including 43.7 44.0 0.3 33.1
  94.2 96.3 2.1 13.5   Lynx_304 Lynx
including 94.8 95.2 0.4 31.0
WST-20-0485 106.3 108.3 2.0 5.55   Lynx_323 Lynx
including 107.9 108.3 0.4 27.2
  119.3 122.0 2.7 12.6   Lynx_304 Lynx
including 119.3 119.7 0.4 60.5
  143.2 145.3 2.1 16.3   Lynx_359 Lynx
including 144.3 145.0 0.7 48.4
WST-20-0486 44.9 47.3 2.4 11.2   Lynx_325 Lynx
Including 46.8 47.3 0.5 34.8
  51.5 54.5 3.0 14.9 Lynx_303 Lynx

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-20-2139-W12 115 -52 1038 452980 5435549 420 3450
OSK-W-20-2139-W9 115 -52 1152 452980 5435549 420 3450
OSK-W-20-2252-W3 129 -53 1062 453241 5435694 415 3750
OSK-W-20-2256-W4 125 -51 1122 453160 5435686 414 3675
OSK-W-20-2275-W2 127 -49 1035 452886 5435584 409 3400
OSK-W-20-2283 135 -50 1151 452997 5435607 425 3500
OSK-W-20-2292-W1 125 -54 1149 453037 5435563 420 3525
OSK-W-20-2292-W2 125 -54 1002 453037 5435563 420 3525
OSK-W-20-2322 130 -54 1191 453608 5435713 404 4075
WST-20-0011 157 -54 451 453105 5435065 231 3325
WST-20-0012D 174 -62 465 453226 5435126 134 3475
WST-20-0013 171 -42 169 453357 5435208 154 3625
WST-20-0014A 137 1 124 453359 5435209 155 3625
WST-20-0350 142 -31 175 453359 5435209 154 3625
WST-20-0352 140 -10 177 453359 5435209 155 3625
WST-20-0394 152 -26 172 453358 5435208 154 3625
WST-20-0395 153 -16 169 453358 5435208 155 3625
WST-20-0420 155 -10 166 453450 5435264 116 3725
WST-20-0422 171 -26 177 453449 5435264 117 3725
WST-20-0482 165 -9 181 453449 5435264 117 3725
WST-20-0484 138 -26 160 453359 5435209 154 3625
WST-20-0485 148 -44 181 453359 5435209 154 3625
WST-20-0486 130 -37 162 453359 5435209 154 3625

 

Lynx Zone

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

 

Triple Lynx

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

 

Qualified Person

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

 

Quality Control and Reporting Protocols

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

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO INFILL DRILLING RETURNS HIGH GRADE AT WINDFALL

Including 22.3 g/t Au Over 15.9 Metres

(Toronto, October 8, 2020) 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 is progressing very well, daily increasing our confidence in the continuity and prevalence of high-grade mineralization at Windfall. Today’s infill results contain 18 intercepts with uncut average grades of over half an ounce per tonne, including the spectacular 22.3 g/t Au over 15.9 metres, showing that Lynx not only has grade but can also deliver width.”

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 67 intercepts in 26 drill holes and 8 wedges.

Selected high-grade intercepts from the new results include: 314 g/t Au over 3.0 metres in OSK-W-20-2260-W1; 22.3 g/t Au over 15.9 metres in OSK-W-20-2139-W10; 33.6 g/t Au over 9.8 metres in OSK-W-20-2280-W1; 127 g/t Au over 2.3 metres in OSK-W-20-2256; 97.8 g/t Au over 2.5 metres in OSK-W-20-2292-W1; and 53.4 g/t Au over 2.1 metres in OSK-W-20-2252-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-20-2139-W10 899.0 914.9 15.9 22.3   LYNX_371 TRIPLE LYNX
including 907.1 907.6 0.5 80.2
941.9 944.0 2.1 17.4   Lynx_363 Triple Lynx
OSK-W-20-2197-W2 780.0 782.0 2.0 10.1   Lynx_363 Triple Lynx
including 780.8 781.7 0.9 22.1
OSK-W-20-2252-W2 826.0 828.0 2.0 4.03   Lynx_371 Triple Lynx
833.0 835.0 2.0 4.41   Lynx_371 Triple Lynx
OSK-W-20-2252-W4 880.5 882.6 2.1 53.4 33.2 Lynx_371 Triple Lynx
including 882.0 882.6 0.6 171 100
889.0 892.0 3.0 3.24   Lynx_361 Triple Lynx
902.0 904.0 2.0 41.5   Lynx_361 Triple Lynx
including 903.0 904.0 1.0 82.1
OSK-W-20-2256 852.8 855.0 2.2 44.4 19.7 Lynx_371 Triple Lynx
including 853.2 853.6 0.4 236 100
  881.1 883.4 2.3 127 51.1 Lynx_361 Triple Lynx
including 882.2 882.8 0.6 390 100
894.0 896.2 2.2 4.63   Lynx_361 Triple Lynx
  898.0 900.0 2.0 11.3   Lynx_361 Triple Lynx
  978.9 982.9 4.0 4.44   Lynx_369 Triple Lynx
including 982.2 982.9 0.7 10.5
OSK-W-20-2256-W4 930.0 934.0 4.0 5.63   Lynx_364 Triple Lynx
963.0 965.0 2.0 19.3   Lynx_369 Triple Lynx
including 964.0 964.5 0.5 76.4
OSK-W-20-2260-W1 843.0 846.0 3.0 314 38.0 Lynx_361 Triple Lynx
including 843.4 844.4 1.0 927 100
OSK-W-20-2272 613.0 615.0 2.0 3.45   Lynx_356 Lynx
OSK-W-20-2275 796.0 798.0 2.0 4.38   Lynx_365 Triple Lynx
including 796.0 796.6 0.6 11.3
837.0 839.2 2.2 23.4 22.8 Lynx_365 Triple Lynx
including 837.7 838.2 0.5 102 100
OSK-W-20-2280 1003.7 1006.3 2.6 4.94   Lynx_368 Triple Lynx
including 1003.7 1004.0 0.3 11.1
and 1004.0 1004.4 0.4 10.5
1025.9 1030.1 4.2 8.13   Lynx_363 Triple Lynx
including 1027.0 1027.5 0.5 25.5
1038.0 1040.0 2.0 3.76   Lynx_363 Triple Lynx
including 1039.4 1040.0 0.6 8.10
1067.0 1069.0 2.0 12.5   Lynx_364 Triple Lynx
including 1067.8 1068.1 0.3 52.1
  1079.0 1081.0 2.0 4.09   Lynx_364 Triple Lynx
  1088.7 1094.4 5.7 16.8 12.9 Lynx_369 Triple Lynx
including 1093.2 1093.5 0.3 173 100
1109.0 1111.0 2.0 4.64   Lynx_370 Triple Lynx
OSK-W-20-2280-W1 1006.0 1008.0 2.0 4.22   Lynx_368 Triple Lynx
including 1006.0 1007.0 1.0 8.08
  1013.0 1016.0 3.0 4.82   Lynx_368 Triple Lynx
  1021.9 1024.1 2.2 20.3   Lynx_363 Triple Lynx
  1043.4 1047.6 4.2 27.7   Lynx_363 Triple Lynx
including 1043.7 1044.7 1.0 78.6
  1080.8 1083.0 2.2 4.81   Lynx_364 Triple Lynx
  1097.0 1106.8 9.8 33.6 27.6 Lynx_370 Triple Lynx
including 1102.0 1104.0 2.0 129 100
and 1106.5 1106.8 0.3 108 100
OSK-W-20-2288 624.4 633.9 9.5 12.0   Lynx_356 Lynx
including 629.4 630.0 0.6 27.9
and 632.7 633.3 0.6 28.8
OSK-W-20-2292 852.0 854.0 2.0 3.87   Lynx_363 Triple Lynx
including 852.0 852.7 0.7 10.9
OSK-W-20-2292-W1 835.9 838.0 2.1 3.39   Lynx_361 Triple Lynx
840.0 843.5 3.5 3.65   Lynx_361 Triple Lynx
including 840.0 840.4 0.4 7.83
and 843.0 843.5 0.5 9.84
857.0 859.3 2.3 26.0   Lynx_363 Triple Lynx
including 858.3 859.3 1.0 57.6
889.5 892.0 2.5 97.8 32.2 Lynx_364 Triple Lynx
including 890.3 891.1 0.8 305 100
OSK-W-20-2293 139.9 142.4 2.5 5.25   F17_6005 F-17
including 142.0 142.4 0.4 18.0
OSK-W-20-2297 128.0 131.0 3.0 29.3 24.2 F17_6003 F-17
including 128.0 128.4 0.4 138 100
166.5 168.8 2.3 5.82   F17_6005 F-17
OSK-W-20-2300 149.7 154.0 4.3 7.42   F17_6005 F-17
including 151.0 152.0 1.0 15.6
OSK-W-20-2312 126.0 128.0 2.0 7.26   Mallard_5200 Mallard
including 127.0 127.6 0.6 22.6
OSK-W-20-2315 127.0 129.0 2.0 5.59   Mallard_5200 Mallard
157.0 159.0 2.0 4.13   Mallard_5213 Mallard
OSK-W-20-2321 166.3 168.5 2.2 6.40   Mallard_5213 Mallard
including 167.2 167.8 0.6 21.2
OSK-W-20-2323 153.0 155.0 2.0 3.88   Mallard_5213 Mallard
including 154.7 155.0 0.3 24.1
OSK-W-20-2327 105.3 111.4 6.1 13.6   Mallard_5213 Mallard
including 109.0 110.0 1.0 48.9
WST-20-0135 72.0 74.3 2.3 4.20   Lynx_311 Lynx
including 73.9 74.3 0.4 14.6
WST-20-0318 65.0 68.5 3.5 36.2   Lynx_311 Lynx
including 66.0 66.7 0.7 91.0
WST-20-0389A 192.0 194.3 2.3 9.23   Lynx_341 Lynx
including 192.0 192.6 0.6 23.5
553.9 555.9 2.0 3.44   Lynx_340 Lynx
including 553.9 554.3 0.4 15.7
WST-20-0391A 91.6 94.1 2.5 6.21   Lynx_304 Lynx
including 93.4 94.1 0.7 17.6
98.3 100.5 2.2 3.47   Lynx_304 Lynx
WST-20-0392 82.8 84.8 2.0 8.12   Lynx_323 Lynx
including 83.4 83.8 0.4 26.3
  88.0 90.2 2.2 5.49   Lynx_323 Lynx
  107.0 109.7 2.7 11.2   Lynx_304 Lynx
including 108.4 108.8 0.4 70.9
WST-20-0393 48.9 51.5 2.6 4.68   Lynx_325 Lynx
including 50.0 50.7 0.7 10.2
113.2 115.9 2.7 5.34   Lynx_304 Lynx
including 114.3 114.8 0.5 18.8
WST-20-0402 142.1 144.4 2.3 25.8 14.3 Lynx_301 Lynx
including 142.1 142.4 0.3 189 100
WST-20-0409 85.4 87.4 2.0 3.37   Lynx_323 Lynx
WST-20-0412 97.6 99.9 2.3 9.21   Lynx_323 Lynx
including 99.6 99.9 0.3 48.5
WST-20-0421 87.6 90.0 2.4 3.87   Lynx_323 Lynx
including 88.2 88.5 0.3 28.3
151.0 153.2 2.2 4.96   Lynx_321 Lynx
including 152.3 153.2 0.9 11.2
WST-20-0423 101.0 103.7 2.7 5.56   Lynx_304 Lynx
109.0 112.0 3.0 9.95   Lynx_359 Lynx
WST-20-0424 115.0 117.0 2.0 8.3   Lynx_359 Lynx
including 116.0 117.0 1.0 15.4

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-20-2139-W10 115 -52 1212 452980 5435549 420 3450
OSK-W-20-2197-W2 121 -48 1064 453087 5435526 417 3550
OSK-W-20-2252-W2 129 -54 1194 453241 5435694 415 3750
OSK-W-20-2252-W4 129 -54 1143 453241 5435694 415 3750
OSK-W-20-2256 125 -51 1179 453160 5435686 414 3675
OSK-W-20-2256-W4 125 -51 1122 453160 5435686 414 3675
OSK-W-20-2260-W1 127 -48 1140 453201 5435667 413 3700
OSK-W-20-2272 149 -45 1004 452967 5435265 412 3300
OSK-W-20-2275 127 -49 1094 452886 5435584 409 3400
OSK-W-20-2280 127 -58 1161 453304 5435639 415 3775
OSK-W-20-2280-W1 127 -58 1170 453304 5435639 415 3775
OSK-W-20-2288 146 -51 749 452875 5435181 409 3175
OSK-W-20-2292 125 -54 1059 453037 5435563 420 3525
OSK-W-20-2292-W1 125 -54 1149 453037 5435563 420 3525
OSK-W-20-2293 145 -44 183 452658 5435549 406 3175
OSK-W-20-2297 149 -47 180 452652 5435567 405 3175
OSK-W-20-2300 152 -45 192 452699 5435578 406 3225
OSK-W-20-2312 334 -51 192 451964 5434816 408 2225
OSK-W-20-2315 334 -52 192 451979 5434805 407 2225
OSK-W-20-2321 332 -51 176 451958 5434790 407 2200
OSK-W-20-2323 335 -49 171 451936 5434791 405 2175
OSK-W-20-2327 334 -49 132 451901 5434810 401 2150
WST-20-0135 187 -58 444 453226 5435125 134 3475
WST-20-0318 148 -52 502 453228 5435127 134 3475
WST-20-0389A 115 -46 616 453452 5435266 115 3725
WST-20-0391A 135 8 174 453359 5435209 155 3625
WST-20-0392 126 2 181 453359 5435209 155 3625
WST-20-0393 153 -37 175 453358 5435208 154 3625
WST-20-0402 147 32 162 453493 5435287 119 3775
WST-20-0409 155 21 169 453450 5435264 117 3725
WST-20-0412 164 24 165 453450 5435264 117 3725
WST-20-0421 162 16 168 453450 5435264 117 3725
WST-20-0423 134 -18 142 453359 5435209 154 3625
WST-20-0424 160 5 178 453358 5435208 155 3625

 

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.

 

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.

 

Qualified Person

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

 

Quality Control and Reporting Protocols

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

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO STEP-OUT DRILLING EXPANDS HIGH GRADE AT WINDFALL

Including 391 g/t Au Over 2.4 Metres in Triple Lynx

(Toronto, October 7, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Windfall continues to grow in scale with impressive results flowing in from the Lynx deposit.  Today’s new intersections are all from outside the published resource area and include 15 intercepts with uncut average grades of over one oz/t. The ongoing expansion drilling continues to show the incredible upside growth potential of our deposit.”

The table below shows intercepts located outside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). These intercepts either expand the resource wireframes or are located in a defined zone/corridor but not yet correlated to a specific wireframe. Significant new analytical results are presented below and include 110 intercepts in 43 drill holes and 24 wedges.

Selected high-grade intercepts from the new results include: 391 g/t Au over 2.4 metres, 70 metres toward surface from wireframe Lynx_361, in OSK-W-20-2133-W2; 142 g/t Au over 2.3 metres in OSK-W-20-2307; 86.0 g/t Au over 2.1 metres in WST-20-0341A; 73.8 g/t Au over 2.0 metres in WST-20-0470; 54.4 g/t Au over 4.8 metres in OSK-W-20-2252-W2; and 49.8 g/t Au over 2.2 metres in OSK-W-20-2292. 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-17-1258 971.7 973.7 2.0 3.33   LYNX 4 LYNX
including 971.7 972.7 1.0 6.56
OSK-W-18-1727 782.9 784.9 2.0 12.7   Lynx Lynx
OSK-W-19-1857-W11 1301.8 1304.6 2.8 7.39   Lynx 4 Lynx
OSK-W-19-2100-W4 1212.5 1214.7 2.2 5.22   Triple Lynx Triple Lynx
1242.0 1244.0 2.0 6.47   Triple Lynx Triple Lynx
OSK-W-19-2101 664.4 667.0 2.6 5.48   Triple Lynx Triple Lynx
OSK-W-20-2133-W2 783.6 786.0 2.4 391 31.1 Lynx_361 Triple Lynx
including 784.2 784.6 0.4 2260 100
OSK-W-20-2139-W7 1081.0 1083.5 2.5 9.53   Triple Lynx Triple Lynx
including 1081.0 1081.9 0.9 26.1
OSK-W-20-2139-W8 543.0 545.0 2.0 6.68   Triple Lynx Triple Lynx
including 543.5 544.4 0.9 14.5
OSK-W-20-2139-W10 1196.0 1198.0 2.0 11.7   Triple Lynx Triple Lynx
including 1196.0 1197.1 1.1 21.3
OSK-W-19-2169 893.9 895.9 2.0 5.59   Lynx 4 Lynx
including 894.7 895.3 0.6 18.2
1256.3 1258.4 2.1 15.8   Lynx 4 Lynx
including 1257.5 1258.4 0.9 36.2
OSK-W-20-2170-W6 1384.0 1386.4 2.4 6.70   Lynx 4 Lynx
OSK-W-19-2173 29.0 31.0 2.0 3.07   F11 F11
OSK-W-19-2177 200.0 202.0 2.0 3.10   F11 F11
OSK-W-20-2197-W2 768.7 771.4 2.7 10.3   Lynx_361 Triple Lynx
including 769.7 770.7 1.0 26.0
1045.0 1047.0 2.0 5.66   Lynx 4 Lynx
OSK-W-20-2217-W2 860.0 862.0 2.0 14.0   Triple Lynx Triple Lynx
including 860.0 860.5 0.5 55.6
OSK-W-20-2217-W3 830.0 832.3 2.3 7.53   Lynx_363 Triple Lynx
including 831.0 831.4 0.4 26.8
  1111.7 1114.0 2.3 16.4   Triple Lynx Triple Lynx
including 1113.5 1114.0 0.5 66.3
OSK-W-20-2249 730.0 732.0 2.0 5.66   Lynx SW Lynx
including 730.5 730.9 0.4 22.8
OSK-W-20-2250 1002.2 1005.0 2.8 18.1 15.6 Triple Lynx Triple Lynx
including 1002.2 1002.5 0.3 123 100
OSK-W-20-2250-W1 1009.0 1011.1 2.1 5.08   Triple Lynx Triple Lynx
OSK-W-20-2250-W2 1024.7 1028.0 3.3 28.8   Triple Lynx Triple Lynx
including 1026.4 1027.0 0.6 63.0
OSK-W-20-2250-W3 714.0 716.5 2.5 14.7   Triple Lynx Triple Lynx
OSK-W-20-2250-W4 727.7 734.5 6.8 4.58   Triple Lynx Triple Lynx
including 727.7 728.4 0.7 10.3
and 730.5 731.0 0.5 12.0
855.4 858.0 2.6 6.29   Triple Lynx Triple Lynx
including 857.2 858.0 0.8 18.6
OSK-W-20-2252-W2 812.0 814.0 2.0 7.64   Triple Lynx Triple Lynx
817.2 822.0 4.8 54.4 10.4 Triple Lynx Triple Lynx
including 817.2 817.5 0.3 804 100
OSK-W-20-2252-W3 824.3 829.7 5.4 3.58   Triple Lynx Triple Lynx
  845.1 847.1 2.0 4.01   Triple Lynx Triple Lynx
OSK-W-20-2253 387.5 389.5 2.0 4.30   Caribou Corridor Caribou
OSK-W-20-2256 870.0 872.8 2.8 9.81   Triple Lynx Triple Lynx
OSK-W-20-2256-W2 815.0 817.0 2.0 3.17   Triple Lynx Triple Lynx
OSK-W-20-2260-W2 1091.0 1093.0 2.0 6.47   Triple Lynx Triple Lynx
including 1091.4 1092.1 0.7 18.1
1174.4 1176.5 2.1 9.43   Triple Lynx Triple Lynx
including 1176.0 1176.5 0.5 28.0
OSK-W-20-2263 94.0 96.0 2.0 8.58   Bobcat Bobcat
including 94.0 95.0 1.0 16.9
106.7 108.8 2.1 6.12   Bobcat Bobcat
including 108.0 108.8 0.8 14.1
710.0 712.0 2.0 42.6 21.4 Lynx SW Lynx
including 711.2 711.6 0.4 206 100
OSK-W-20-2266 1027.4 1029.5 2.1 5.58   Triple Lynx Triple Lynx
including 1028.7 1029.0 0.3 33.1
OSK-W-20-2266-W1 776.8 779.2 2.4 5.73   Triple Lynx Triple Lynx
including 778.0 779.2 1.2 11.1
797.3 799.3 2.0 3.08   Lynx_364 Triple Lynx
OSK-W-20-2266-W2 717.4 719.4 2.0 19.9   Lynx_363 Triple Lynx
OSK-W-20-2267 50.4 52.8 2.4 15.4   Bobcat Bobcat
including 51.0 51.5 0.5 46.4
OSK-W-20-2268-W1 737.1 739.3 2.2 7.46   Triple Lynx Triple Lynx
including 738.3 739.0 0.7 19.0
819.0 821.3 2.3 27.4   Triple Lynx Triple Lynx
including 819.0 820.0 1.0 45.7
1027.0 1029.0 2.0 6.70   Triple Lynx Triple Lynx
including 1027.4 1028.2 0.8 16.5
OSK-W-20-2268-W2 999.0 1001.0 2.0 5.08   Triple Lynx Triple Lynx
OSK-W-20-2269 97.3 99.5 2.2 8.21   Bobcat Bobcat
including 98.0 98.4 0.4 30.8
518.2 520.6 2.4 3.37   Lynx SW Lynx
886.0 888.0 2.0 14.0   Lynx SW Lynx
including 886.5 886.8 0.3 92.5
OSK-W-20-2271 809.6 815.2 5.6 6.69   Lynx Lynx
including 814.2 815.2 1.0 17.4
841.1 843.1 2.0 18.2   Lynx Lynx
including 842.1 843.1 1.0 35.0
877.0 879.0 2.0 5.36   Lynx Lynx
including 877.9 878.2 0.3 27.8
OSK-W-20-2272 683.0 685.1 2.1 13.0   Triple Lynx Triple Lynx
including 683.0 683.9 0.9 29.7
OSK-W-20-2273 706.7 708.7 2.0 8.32   Lynx_363 Triple Lynx
including 706.7 707.2 0.5 22.4
1013.8 1017.3 3.5 4.78   Triple Lynx Triple Lynx
including 1015.1 1015.5 0.4 16.1
OSK-W-20-2280 1013.2 1016.7 3.5 5.23   Triple Lynx Triple Lynx
including 1013.8 1014.2 0.4 26.7
and 1016.4 1016.7 0.3 11.3
1084.7 1087.0 2.3 4.27   Triple Lynx Triple Lynx
OSK-W-20-2280-W1 1090.0 1092.0 2.0 11.8   Triple Lynx Triple Lynx
OSK-W-20-2282 308.4 310.8 2.4 6.13   Bobcat Bobcat
including 309.0 309.5 0.5 16.6
OSK-W-20-2283 808.0 813.4 5.4 33.5 29.0 Triple Lynx Triple Lynx
including 810.8 811.3 0.5 73.1
and 811.7 812.0 0.3 182 100
819.0 821.0 2.0 7.27   Triple Lynx Triple Lynx
including 819.6 820.0 0.4 24.1
823.2 825.5 2.3 4.30   Triple Lynx Triple Lynx
including 823.6 824.4 0.8 10.6
1001.0 1003.2 2.2 44.8 23.6 Triple Lynx Triple Lynx
including 1002.7 1003.2 0.5 194 100
1018.0 1020.0 2.0 19.3   Triple Lynx Triple Lynx
including 1018.9 1019.5 0.6 54.4
OSK-W-20-2288 467.0 469.8 2.8 8.13   Lynx SW Lynx
including 467.0 467.4 0.4 38.9
OSK-W-20-2292 390.0 392.0 2.0 7.18   Lynx Lynx
including 391.7 392.0 0.3 19.3
  835.4 837.8 2.4 4.47   Triple Lynx Triple Lynx
  845.0 847.0 2.0 11.8   Lynx_361 Triple Lynx
including 845.8 846.3 0.5 41.0
882.0 884.0 2.0 8.01   Lynx_364 Triple Lynx
including 883.0 884.0 1.0 15.7
1007.2 1009.2 2.0 49.8 21 Lynx_372 Triple Lynx
including 1008.8 1009.2 0.4 244 100
OSK-W-20-2295 651.2 658.0 6.8 12.4   Triple Lynx Triple Lynx
including 652.4 652.7 0.3 28.7
and 653.4 654.0 0.6 45.9
and 656.1 656.7 0.6 56.9
891.7 893.7 2.0 11.6   Lynx SW Triple Lynx
including 891.7 892.7 1.0 23.0
OSK-W-20-2295-W1 648.6 651.4 2.8 45.1 30.1 Triple Lynx Triple Lynx
including 650.0 650.7 0.7 160 100
OSK-W-20-2298 169.0 171.7 2.7 7.41   Bobcat Bobcat
including 169.0 169.7 0.7 20.2
245.0 247.0 2.0 6.59   Bobcat Bobcat
including 245.0 245.7 0.7 18.4
373.0 375.0 2.0 16.7   Lynx SW Lynx
including 373.8 374.3 0.5 65.2
OSK-W-20-2305 630.8 635.0 4.2 4.47   Triple Lynx Triple Lynx
including 634.0 635.0 1.0 9.32
  876.0 878.3 2.3 10.7   Triple Lynx Triple Lynx
including 877.6 878.3 0.7 31.6
882.2 884.6 2.4 43.0 18.0 Triple Lynx Triple Lynx
including 883.4 883.8 0.4 250 100
OSK-W-20-2306 137.8 140.0 2.2 4.30   Bobcat Bobcat
  147.1 149.4 2.3 3.12   Bobcat Bobcat
  275.0 277.3 2.3 8.58   Bobcat Bobcat
including 275.8 276.5 0.7 20.7
386.1 388.3 2.2 3.94   Lynx SW Lynx
including 386.6 387.0 0.4 11.5
OSK-W-20-2307 689.6 691.9 2.3 142 75.8 Lynx_341 Lynx
including 690.0 690.4 0.4 413 100
OSK-W-20-2310 69.7 72.0 2.3 35.6 13.8 Mallard_5200 Mallard
including 70.8 71.1 0.3 267 100
OSK-W-20-2312 85.0 87.3 2.3 7.19   Mallard Mallard
including 85.7 86.2 0.5 25.4
OSK-W-20-2324 90.0 92.5 2.5 8.43   Mallard Mallard
WST-20-0135 293.0 295.1 2.1 35.1 19.2 Lynx SW Lynx
including 293.7 294.1 0.4 184 100
351.8 354.7 2.9 3.15   Lynx SW Lynx
including 351.8 352.3 0.5 8.55
and 354.1 354.7 0.6 7.76
360.4 362.6 2.2 13.4   Triple Lynx Triple Lynx
including 360.4 361.4 1.0 28.9
397.3 399.4 2.1 23.6 14.5 Lynx SW Lynx
including 397.8 398.1 0.3 164 100
WST-20-0318 377.4 379.6 2.2 8.05   Lynx SW Lynx
463.3 466.0 2.7 9.06   Lynx 4 Lynx
WST-20-0339 199.1 202.2 3.1 4.57   Lynx HW Lynx
WST-20-0341A 306.1 308.2 2.1 86.0 19.9 Lynx SW Lynx
including 306.1 306.5 0.4 447 100
346.1 348.1 2.0 10.6   Lynx SW Lynx
including 347.3 347.7 0.4 50.2
WST-20-0345 361.7 363.9 2.2 3.75   Caribou corridor Caribou
including 362.3 363.1 0.8 9.43
WST-20-0400 158.0 160.2 2.2 11.2   Lynx_301 Lynx
including 159.0 160.2 1.2 19.7
WST-20-0411 148.2 150.4 2.2 38.1 36.1 Lynx HW Lynx
including 149.2 149.9 0.7 107 100
WST-20-0412 155.0 157.2 2.2 3.06   Lynx_328 Lynx
including 156.9 157.2 0.3 11.2
WST-20-0417 190.6 192.6 2.0 22.4   Lynx Lynx
including 190.6 191.2 0.6 41.5
428.2 430.2 2.0 4.06   Lynx 4 Lynx
WST-20-0423 125.0 127.0 2.0 5.23   Lynx Lynx
including 125.0 125.7 0.7 14.9
WST-20-0459 204.3 206.4 2.1 20.6   Lynx SW Lynx
including 205.9 206.4 0.5 76.2
WST-20-0462 171.0 173.0 2.0 40.4   Lynx Lynx
including 171.5 172.5 1.0 79.1
454.0 456.0 2.0 3.50   Lynx_336 Lynx
including 454.0 454.8 0.8 8.19
638.9 643.2 4.3 3.82   Lynx Lynx
including 638.9 639.6 0.7 12.6
WST-20-0470 86.2 88.2 2.0 73.8 15.0 Lynx Lynx
including 87.5 87.8 0.3 492 100

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-17-1258 126 -51 1128 452972 5435211 416 3275
OSK-W-18-1727 331 -61 810 453461 5435040 396 3625
OSK-W-19-1857-W11 108 -58 1385 453525 5435704 405 4000
OSK-W-19-2100-W4 122 -47 1260 453095 5435726 423 3650
OSK-W-19-2101 18 -68 909 453426 5434779 396 3475
OSK-W-19-2169 130 -50 1268 453215 5435512 410 3650
OSK-W-19-2173 156 -46 234 452182 5435722 407 2850
OSK-W-19-2177 153 -51 396 452454 5435997 406 3225
OSK-W-20-2133-W2 118 -49 1139 453080 5435531 417 3525
OSK-W-20-2139-W7 115 -52 1164 452980 5435549 420 3450
OSK-W-20-2139-W8 115 -52 1125 452980 5435549 420 3450
OSK-W-20-2139-W10 115 -52 1212 452980 5435549 420 3450
OSK-W-20-2170-W6 128 -59 1407 453425 5435657 413 3900
OSK-W-20-2197-W2 121 -48 1064 453087 5435526 417 3550
OSK-W-20-2217-W2 134 -48 893 452944 5435565 418 3425
OSK-W-20-2217-W3 134 -48 1128 452944 5435565 418 3425
OSK-W-20-2249 132 -56 759 452775 5435192 411 3100
OSK-W-20-2250 132 -57 1064 453129 5435505 419 3575
OSK-W-20-2250-W1 132 -57 1060 453129 5435505 419 3575
OSK-W-20-2250-W2 132 -57 1134 453129 5435505 419 3575
OSK-W-20-2250-W3 132 -57 1170 453129 5435505 419 3575
OSK-W-20-2250-W4 132 -57 1005 453129 5435505 419 3575
OSK-W-20-2252-W2 129 -54 1194 453241 5435694 415 3750
OSK-W-20-2252-W3 129 -53 1062 453241 5435694 415 3750
OSK-W-20-2253 128 -54 924 452831 5435326 413 3225
OSK-W-20-2256 125 -51 1179 453160 5435686 414 3675
OSK-W-20-2256-W2 125 -51 957 453160 5435686 414 3675
OSK-W-20-2260-W2 127 -48 1191 453201 5435667 413 3700
OSK-W-20-2263 128 -49 1029 452926 5435187 413 3225
OSK-W-20-2266 128 -55 1050 453067 5435478 418 3500
OSK-W-20-2266-W1 128 -55 1116 453067 5435478 418 3500
OSK-W-20-2266-W2 128 -55 1131 453067 5435478 418 3500
OSK-W-20-2267 135 -52 66 452972 5435210 416 3275
OSK-W-20-2268-W1 127 -55 1073 453148 5435488 418 3575
OSK-W-20-2268-W2 127 -55 1038 453148 5435488 418 3575
OSK-W-20-2269 133 -50 933 452972 5435210 416 3275
OSK-W-20-2271 120 -53 1247 453462 5435683 410 3950
OSK-W-20-2272 149 -45 1004 452967 5435265 412 3300
OSK-W-20-2273 129 -51 1059 453067 5435478 417 3500
OSK-W-20-2280 127 -58 1161 453304 5435639 415 3775
OSK-W-20-2280-W1 127 -58 1170 453304 5435639 415 3775
OSK-W-20-2282 148 -56 588 452875 5435181 409 3175
OSK-W-20-2283 135 -50 1151 452997 5435607 425 3500
OSK-W-20-2288 146 -51 749 452875 5435181 409 3175
OSK-W-20-2292 125 -54 1059 453037 5435563 420 3525
OSK-W-20-2295 132 -51 987 452938 5435472 415 3375
OSK-W-20-2295-W1 132 -51 960 452938 5435472 415 3375
OSK-W-20-2298 137 -50 596 452847 5435059 407 3100
OSK-W-20-2305 124 -55 911 453026 5435408 413 3425
OSK-W-20-2306 152 -55 531 452872 5435155 407 3175
OSK-W-20-2307 124 -54 878 453397 5435557 413 3825
OSK-W-20-2310 333 -51 144 451970 5434835 407 2225
OSK-W-20-2312 334 -51 192 451964 5434816 408 2225
OSK-W-20-2324 334 -51 167 451944 5434811 406 2200
WST-20-0135 187 -58 444 453226 5435125 134 3475
WST-20-0318 148 -52 502 453228 5435127 134 3475
WST-20-0339 146 -18 295 453410 5435229 114 3675
WST-20-0341A 163 -42 493 453228 5435126 134 3475
WST-20-0345 136 -21 401 452282 5434975 263 2575
WST-20-0400 167 16 172 453493 5435287 118 3775
WST-20-0411 156 38 171 453450 5435264 118 3725
WST-20-0412 164 24 165 453450 5435264 117 3725
WST-20-0417 138 -50 759 453228 5435126 134 3475
WST-20-0423 134 -18 142 453359 5435209 154 3625
WST-20-0459 153 -47 579 453227 5435126 135 3475
WST-20-0462 152 -53 680 453227 5435125 134 3475
WST-20-0470 158 9 184 453493 5435287 118 3775

 

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

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO INTERSECTS 115 G/T AU OVER 5.6 METRES AT WINDFALL

(Toronto, September 1, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing definition and expansion 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, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system.  Osisko President and Chief Executive Officer John Burzynski commented: “We continue to be impressed with the strong results from Lynx, and are seeing good possibilities to extend the mineralization in the known zones.  While we are focused on completing the infill drilling, the deposit continues to grow in the process.”

Infill results are presented below. Significant new analytical results from 96 intercepts in 38 new drill holes and 26 wedges include: 115 g/t Au over 5.6 metres and 25.6 g/t Au over 5.0 metres in OSK-W-20-2256-W2; 57.9 g/t Au over 3.6 metres in OSK-W-20-2139-W9; 94.4 g/t Au over 2.0 metres in WST-20-0389A; 54.4 g/t Au over 3.3 metres in OSK-W-20-2260-W2; 77.3 g/t Au over 2.3 metres in OSK-W-20-2268-W3; 42.8 g/t Au over 3.1 metresin OSK-W-20-2243-W4; 31.2 g/ Au over 4.1 metres OSK-W-20-2252-W2; 62.2 g/t Au over 2.0 metres in OSK-W-20-2299; and 47.4 g/t Au over 2.5 metres in WST-20-0471.  Maps showing hole locations and full analytical results are available at www.osiskomining.com.