Osisko Mining drills two m of 376 g/t Au at Windfall 2020-06-23 16:10 ET - News Release
Mr. John Burzynski reports
OSISKO INFILL DRILLING CONTINUES TO CONFIRM HIGH GRADE AT LYNX
Osisko Mining Inc. has provided new drilling results from the continuing definition and expansion drill program at its 100-per-cent-owned Windfall gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee, James Bay, Quebec.
Drilling is currently focused on the Lynx deposit, the main mineralized zones, and down plunge exploration in the central areas of the mineralized system. Windfall camp is expected to return to full capacity with 21 drill rigs by the end of this week.
Osisko President and Chief Executive Officer John Burzynski commented: "Todays infill results continue to demonstrate the continuity of the high-grade values in Lynx and Triple Lynx, as we continue to intersect the zones where anticipated. The drill program remains focused on defining the Lynx deposit as well as targeting key areas up plunge and down plunge for growth potential. We are also having good success in step-out drilling which will add to the scale of the deposit."
Significant new analytical results from 33 intercepts in 18 drill holes and 7 wedges are presented below.
Selected high-grade intercepts from the new results include: 376 g/t Au over 2.0 metres in WST-20-0310; 23.8 g/t Au over 6.2 metres in OSK-W-19-2100-W5; 35.2 g/t Au over 4.3 metres in WST-20-0380; and 27.0 g/t Au over 4.5 metres in OSK-W-20-2250. 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 OSK-W-19-1731-W4 534.7 539.6 4.9 7.76 including 534.7 535.2 0.5 36.5 and 538.9 539.6 0.7 17.6 OSK-W-19-2100-W5 962.0 968.2 6.2 23.8 20.3 including 966.2 966.8 0.6 136 100 OSK-W-19-2204 69.4 71.5 2.1 4.85 including 70.8 71.5 0.7 14.2 OSK-W-20-1104-W7 470.0 472.0 2.0 7.98 including 470.7 471.2 0.5 29.4 OSK-W-20-2139-W7 867.0 869.0 2.0 4.41 including 867.8 868.2 0.4 12.5 872.0 874.8 2.8 3.09 894.0 896.6 2.6 3.01 including 895.0 895.3 0.3 24.5 899.4 901.7 2.3 3.06 OSK-W-20-2243-W1 828.1 833.3 5.2 5.43 including 828.1 828.4 0.3 40.6 OSK-W-20-2243-W2 828.0 834.0 6.0 2.99 OSK-W-20-2245 109.5 111.5 2.0 15.2 including 110.6 110.9 0.3 91.6 OSK-W-20-2250 799.5 804.0 4.5 27.0 14.7 including 799.5 799.8 0.3 134 100 and 801.5 801.8 0.3 251 100 807.0 809.0 2.0 5.87 OSK-W-20-2250-W1 767.0 769.0 2.0 5.65 OSK-W-20-2252 871.1 873.6 2.5 3.21 including 871.1 872.0 0.9 7.51 875.3 877.7 2.4 4.09 including 876.3 877.0 0.7 10.6 WST-20-0309 58.0 60.5 2.5 14.0 including 58.5 59.5 1.0 34.8 WST-20-0310 63.7 65.7 2.0 376 34.4 including 63.7 64.2 0.5 1465 100 WST-20-0311 54.0 56.1 2.1 5.75 57.9 60.3 2.4 9.84 including 59.8 60.3 0.5 35.8 WST-20-0317 57.8 60.0 2.2 3.47 including 58.7 59.2 0.5 14.2 64.4 66.4 2.0 13.7 including 65.4 66.4 1.0 26.8 WST-20-0319 58.7 62.3 3.6 23.6 21.1 including 60.5 60.9 0.4 122 100 and 61.9 62.3 0.4 80.5 WST-20-0320 73.0 75.6 2.6 15.5 including 74.9 75.6 0.7 44.5 WST-20-0380 52.9 57.2 4.3 35.2 30.4 including 56.2 57.2 1.0 121 100 WST-20-0384 125.0 127.0 2.0 25.5 including 125.0 125.4 0.4 62.8 and 126.5 127.0 0.5 50.0 WST-20-0417 65.0 67.5 2.5 4.81 WST-20-0428 130.5 132.8 2.3 3.40 including 131.5 132.2 0.7 9.97 WST-20-0430 124.7 127.0 2.3 15.7 including 125.1 125.5 0.4 88.8 WST-20-0432 126.0 128.0 2.0 9.25 including 126.0 126.4 0.4 43.7 WST-20-0433A 117.0 119.1 2.1 7.84 including 117.6 117.9 0.3 36.1 122.0 124.0 2.0 10.9 including 122.9 123.4 0.5 39.1 WST-20-0434 114.0 116.6 2.6 8.28 including 114.0 114.6 0.6 32.1
Notes: True widths are estimated at 55 - 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below.
Lynx Zone
Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.
Triple Lynx Zone
Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. 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 {&#A A ; –} 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, Quebec, 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, Quebec, 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, Quebec, 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. 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 Quebec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 2,700 square kilometres).
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