More ResultsOsisko drills 102 metres of 3.21 g/t Au at South Barnat
2008-12-03 06:06 MT - News Release
Mr. John Burzynski reports
OSISKO INTERSECTS 102 METRES AVERAGING 3.21 G/T AU AT SOUTH BARNAT
Osisko Mining Corp. has released new results from the definition drill program currently under way at South Barnat, a separate gold mineralized zone located northeast of the Canadian Malartic deposit. Significant results include 3.21 grams per tonne (g/t) Au over 102 metres (BA08-3154), 3.16 g/t Au over 54 metres (BA08-3149) and 1.78 g/t Au over 106 metres (BA08-3152). Narrow zones of higher-grade gold values were also encountered, including 51 g/t Au over 1.5 metres (BA08-3149) and 17.4 g/t Au over six metres (BA08-3154). Results from 18 new holes are tabled here.
Hole No. Section From (m) To (m) Length (m) Au g/tBA08-3146 450E 14.0 30.0 16.0 2.70BA08-3147 200E 31.5 89.0 57.5 2.00including 67.0 68.2 1.2 24.20BA08-3148B 175E 33.5 54.3 20.8 2.68BA08-3149 150E 17.5 71.5 54.0 3.16including 43.0 44.5 1.5 51.00and 171.5 183.7 12.2 5.29BA08-3150 000E 24.4 57.5 33.1 1.11and 209.0 210.5 1.5 15.20BA08-3151 575E 63.0 82.5 19.5 3.19and 175.0 197.5 22.5 3.21BA08-3152 650E 143.0 249.0 106.0 1.78BA08-3153 650E 121.0 210.0 89.0 2.35including 138.0 141.0 3.0 16.60BA08-3154 650E 135.5 237.5 102.0 3.21including 167.5 173.5 6.0 17.41BA08-3156 025E 55.5 79.5 24.0 1.15and 127.0 151.7 24.7 1.89BA08-3157 025E 68.5 92.0 23.5 1.08BA08-3158 025E 85.0 127.0 42.0 1.02and 284.0 408.0 124.0 0.62BA08-3160 450E 35.5 102.0 66.5 1.57and 147.0 167.5 20.5 1.40BA08-3161 450E 46.0 51.5 5.5 9.70and 81.5 150.9 69.4 1.51and 200.1 265.3 65.2 2.93BA08-3162B 450E 83.0 163.0 80.0 2.32BA08-3163 125E 17.0 77.3 60.3 1.39and 202.0 203.0 1.0 13.10BA08-3164 175E 66.0 80.3 14.3 6.87BA08-3165 175E 274.5 286.0 11.5 1.36
Drill holes BA08-3155 and BA08-3159 did not reach the intended target depths and did not intersect significant mineralization. Drill holes BA08-3146, BA08-3148, BA08-3152, BA08-3162 and BA08-3164 were lost in fault zones or intercepted historic mine workings and did not reach the intended target depths. Assay results for further holes at South Barnat are pending.
The definition drill program is focused on an 850-metre-long grid-oriented northwest-southeast with drill sections spaced 25 metres apart. All holes on this grid are inclined 45 to 75 degrees to the northeast or southwest. True widths of the mineralized intersections reported above are 40 per cent to 70 per cent of the drilled intersections.
Drilling to date suggests that the minimum strike length of the South Barnat zone is 850 metres with a true width between 30 and 160 metres. The mineralized zone is open along strike to the southeast, where it merges with the old East Malartic mine. It extends to depths of 250 to 400 metres in the southeastern portion, where the system is still open at depth. Estimated depth in the northwestern third of the deposit is 130 to 200 metres.
Mineralization in the South Barnat zone is located to the north and south of the old Barnat and East Malartic mine workings, largely along the southern edge of the Cadillac fault. The gold mineralization comprises multiple subvertical, tabular subzones hosted both in silicified greywackes of the Pontiac Group south of the fault contact and in schistose, carbonated and biotitic ultramafic rocks north of the fault contact. Porphyry dikes on both sides of the fault contain disseminated mineralization, as well as late quartz veins containing visible gold. Gold mineralization in the South Barnat zone likely extends to the east along the north and south walls of the past-producing East Malartic mine.
All NQ or HQ core assays reported above were obtained by standard 50-gram fire assaying-AA finish or gravimetric finish at ALS Chemex laboratories in Val d'Or, Que. Reported weighted averages were calculated using a minimum of 0.5 g/t Au over successive maximum intervals of 20 metres with no upper cut-off of individual assays. Intersected drifts or lost core within mineralized intersections were incorporated as blank intervals.
Osisko Mining is currently evaluating the Canadian Malartic gold deposit and adjacent areas for a large-scale open pit, bulk-tonnage mining operation. The company is well financed with approximately $120-million on hand and is carrying out an aggressive definition drilling and exploration campaign. A National Instrument 43-101-compliant reserve/resource estimate and a feasibility study on the main Canadian Malartic gold deposit were released on Sept. 25, 2008, and will be filed on SEDAR shortly. This estimate does not include the South Barnat zone nor any other mineralized zone located outside the main deposit that is currently being evaluated by Osisko.
Robert Wares, PGeo, executive vice-president and chief operating officer of Osisko, is the qualified person responsible for the technical information reported in this news release.
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