Osisko drills 116.9 m of 1.85 g/t gold at South BaOsisko drills 116.9 m of 1.85 g/t gold at South Barnat
2008-12-22 10:07 MT - News Release
Mr. John Burzynski reports
OSISKO INTERSECTS 117 METRES AVERAGING 1.85 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 drill intersections include 1.85 grams per tonne gold over 116.9.0 metres (BA08-3211), 3.34 grams per tonne gold over 52.9 metres (BA08-3208) and 1.68 grams per tonne gold over 113.0 metres (BA08-3207). Results from 20 new holes are shown in the attached table.
From To Length GoldHole No. Section (m) (m) (m) (g/t)BA08-3192 000E 72.9 97.5 24.6 1.06BA08-3193 500E 19.5 39.5 20.0 2.62 and 110.5 178.3 67.8 1.30BA08-3196 750E 76.5 93.1 16.6 1.11BA08-3197 550E 27.5 67.5 40.0 1.97 and 122.0 245.5 123.5 1.00 and 268.0 379.1 111.1 1.02BA08-3198 550E 29.0 65.5 36.5 1.60BA08-3199 600E 75.5 138.5 63.0 1.56 and 187.0 242.5 55.5 1.21 and 288.3 368.4 80.1 1.30BA08-3200 600E 38.5 67.0 28.5 2.90 and 142.0 161.0 19.0 1.45 and 204.5 338.5 134.0 1.06BA08-3201 855E 69.0 97.5 28.5 3.01BA08-3202 375E 74.5 154.5 80.0 1.30BA08-3203 375E 53.0 94.1 41.1 1.68 and 115.1 220.5 105.4 1.37 including 216.5 218.1 1.6 30.30BA08-3204 500E 144.0 187.0 43.0 1.02 and 288.5 372.1 83.6 0.71BA08-3205 500E 156.0 197.5 41.5 1.11 and 250.7 262.5 11.8 4.62 and 334.5 402.0 67.5 1.61BA08-3206 500E 173.5 199.5 26.0 2.30 and 325.0 365.0 40.0 1.06BA08-3207 550E 71.7 154.6 82.9 1.14 and 196.0 309.0 113.0 1.68BA08-3208 855E 312.4 365.3 52.9 3.34 including 349.9 351.0 1.1 23.80BA08-3209 855E 66.0 85.0 19.0 1.75 and 100.0 153.7 53.7 1.14BA08-3211 550E 9.1 126.0 116.9 1.85BA08-3212 550E 8.5 52.5 44.0 1.31 and 97.0 221.5 124.5 1.48BA08-3214 450E 56.0 114.5 58.5 1.73 and 266.0 309.0 43.0 1.96BA08-3215 450E 25.0 51.5 26.5 2.64 and 295.5 323.0 27.5 1.64
Drill holes BA08-3191, BA08-3194, BA08-3195 and BA08-3210 did not reach the intended target depths and/or did not intersect significant mineralization. Drill holes BA08-3196 and BA08-3198 were lost in fault zones or intercepted historic mine workings and did not reach the intended target depths. Assay results for BA08-3213 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 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 0.50 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 is currently developing the Canadian Malartic gold deposit and adjacent areas into a large-scale open-pit, bulk-tonnage mining operation. The company is well financed with approximately $110-million on hand and is also carrying out an aggressive definition drilling and exploration campaign. An NI 43-101-compliant reserve/resource estimate and feasibility study on the main Canadian Malartic gold deposit was released on Nov. 25, 2008, and has been filed on SEDAR. This estimate does not include the South Barnat zone or 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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