Osisko drills 186 m of 1.75 g/t Au at South BarnatOsisko drills 186 m of 1.75 g/t Au at South Barnat
2008-12-11 11:45 MT - News Release
Mr. John Burzynski reports
OSISKO INTERSECTS 186 METRES AVERAGING 1.75 G/T AU AT SOUTH BARNAT
Osisko Mining Corp. is releasing 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 1.75 grams per tonne gold over 186 metres (BA08-3179) and 2.39 grams per tonne gold over 49 metres (BA08-3177). Narrow zones of higher-grade gold values were also encountered, including 39.5 grams per tonne gold over 2.7 metres (BA08-3175) and 33 grams per tonne gold over four metres (BA08-3179).
Hole No. Section From (m) To (m) Length (m) Au (g/t)BA08-3166 855E 123.0 163.0 40.0 2.01BA08-3168 025E 19.9 47.5 27.6 0.92And 89.5 107.6 18.1 1.19BA08-3169 750E 149.3 180.3 31.0 3.68BA08-3170 750E 187.0 204.8 17.8 2.27BA08-3171 425E 16.5 53.9 37.4 2.13And 85.0 104.5 19.5 0.92BA08-3172 075E 17.7 80.0 62.3 1.44BA08-3173 075E 50.4 95.5 45.1 1.11BA08-3174 075E 74.0 128.0 54.0 1.00BA08-3175 075E 95.2 133.5 38.3 3.84including 129.5 132.2 2.7 39.51BA08-3177 125E 127.5 176.5 49.0 2.39BA08-3178 600E 155.5 169.0 13.5 1.57BA08-3179 550E 13.5 31.5 18.0 2.82And 123.5 309.5 186.0 1.75including 287.5 291.5 4.0 33.03BA08-3180 550E 141.0 178.0 37.0 1.63And 269.5 307.5 38.0 0.70And 319.0 323.5 4.5 25.21BA08-3181 550E 146.0 201.0 55.0 1.69BA08-3182 700E 73.5 100.0 26.5 2.45BA08-3184 700E 167.0 192.5 25.5 0.92BA08-3185 700E 165.5 210.5 45.0 0.80BA08-3186 700E 150.0 311.6 161.6 0.90BA08-3187 375E 47.3 143.0 95.7 0.79BA08-3188 375E 190.0 265.7 75.7 0.77
Drill holes BA08-3167, BA08-3183, BA08-3189 and BA08-3190 did not reach the intended target depths and/or did not intersect significant mineralization. Drill holes BA08-3170, BA08-3178 and BA08-3188 were lost in fault zones or intercepted historic mine workings and did not reach the intended target depths. Assay results for BA08-3176 and 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 gram per tonne gold 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 feasibility study on the main Canadian Malartic gold deposit was released on Nov. 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 Mining.
Robert Wares, PGeo, executive vice-president and chief operating officer of Osisko Mining, is the qualified person responsible for the technical information reported in this news release.
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