Osisko Mining drills 10.4 m of 34.8 g/t Au at Windfall
Osisko Mining drills 10.4 m of 34.8 g/t Au at Windfall
2020-07-16 11:26 ET - News Release
Mr. John Burzynski reports
OSISKO EXPANSION DRILLING RETURNS 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.
Twenty-two drills are active at Windfall (including 16 on surface and six underground), all currently focused on the Lynx deposit.
Osisko President and Chief Executive Officer John Burzynski commented: "The Lynx system remains open both towards surface and down plunge, and we expect to see additions to the Lynx resource by the end of the year. Clearly the highest-grade portion of our Windfall deposit, Lynx continues to impress and provide good upside to the scale of our growing resource. Lynx gave important additions to our February 2020 resource update (see Osisko news release dated February 19, 2020), and we expect to see that pattern continue."
Significant new analytical results are presented below and include 59 intercepts in 15 drill holes, 22 wedges and 3 extensions of previously drilled holes. All intercepts reported below are located outside the February 2020 mineral resource estimate wireframes and represent expansions of known mineralized zones.
Selected high-grade intercepts from the new results include: OSK-W-20-2266-W1, 30 metres up-plunge from wireframe Lynx_363, returned 34.8 g/t Au over 10.4 metres; OSK-W-20-2268, 70 metres up-plunge from wireframe Lynx_361, returned 26.1 g/t Au over 5.3 metres; OSK-W-20-2100-W6, 15 metres vertically towards surface from wireframe Lynx_371, returned 59.7 g/t Au over 2.2 metres; and OSK-W-20-2250-W1, 48 metres up-plunge from wireframe Lynx_372, returned 42.6 g/t Au over 2.2 metres. 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) uncutAu (g/t) cut Zone Corridor OSK-W-18-1639 1078.9 1081.0 2.1 7.49 Lynx_327 Lynx OSK-W-18-1731-W1 581.0 583.0 2.0 9.27 Lynx_322 Lynx including 581.6 582.0 0.4 33.8 OSK-W-18-1741-W1 693.8 696.1 2.3 4.05 Lynx_336 Lynx OSK-W-19-1166-W5 670.0 672.0 2.0 6.58 Lynx Lynx 679.9 683.0 3.1 10.3 Lynx Lynx OSK-W-19-1949-W3 642.2 644.6 2.4 4.38 Lynx_341 Lynx OSK-W-19-2100-W2 1066.5 1068.5 2.0 35.7 26 Triple LynxTriple Lynx including 1067.3 1067.8 0.5 139 100 OSK-W-19-2101 787.0 789.0 2.0 3.84 Lynx_361 Triple Lynx OSK-W-19-2139-W1 867.0 872.0 5.0 3.07 Triple LynxTriple Lynx OSK-W-19-2194 778.7 786.2 7.5 5.36 Triple LynxTriple Lynx 992.3 994.5 2.2 11.7 Lynx_350 Lynx including 993.6 994.5 0.9 25.2 OSK-W-20-2059-W2 806.0 808.0 2.0 7.15 Lynx_333 Lynx OSK-W-20-2059-W3 805.0 807.2 2.2 10.1 Lynx_330 Lynx including 806.7 807.2 0.5 43.5 OSK-W-20-2100-W6 896.8 899.0 2.2 59.7 19 Lynx_371 Triple Lynx including 896.8 897.2 0.4 324 100 OSK-W-20-2100-W7 888.4 890.5 2.1 22.7 Lynx_371 Triple Lynx including 889.3 890.0 0.7 61.2 OSK-W-20-2139-W5 1006.0 1008.5 2.5 4.82 Triple LynxTriple Lynx OSK-W-20-2170-W5 1021.3 1023.7 2.4 9.55 Triple LynxTriple Lynx 1047.0 1049.4 2.4 9.54 Lynx_364 Triple Lynx including 1047.0 1047.5 0.5 38.0 OSK-W-20-2202-W2 848.1 850.2 2.1 12.0 Lynx_367 Triple Lynx including 849.9 850.2 0.3 49.4 874.8 877.0 2.2 7.36 Triple LynxTriple Lynx OSK-W-20-2217-W1 753.8 759.2 5.4 3.04 Triple LynxTriple Lynx 948.0 950.0 2.0 4.36 Triple LynxTriple Lynx OSK-W-20-2217-W2 795.7 797.7 2.0 6.84 Triple LynxTriple Lynx 806.0 808.0 2.0 4.42 Triple LynxTriple Lynx OSK-W-20-2217-W3 760.4 764.0 3.6 21.8 Triple LynxTriple Lynx 910.0 912.0 2.0 19.7 Triple LynxTriple Lynx OSK-W-20-2243-W1 795.0 797.1 2.1 6.82 Lynx_363 Triple Lynx including 795.3 796.1 0.8 15.9 804.0 806.0 2.0 3.05 Lynx_363 Triple Lynx 820.8 824.3 3.5 15.4 Triple LynxTriple Lynx 923.0 927.0 4.0 5.34 Triple LynxTriple Lynx OSK-W-20-2243-W2 962.0 964.0 2.0 17.7 Triple LynxTriple Lynx OSK-W-20-2243-W3 782.9 791.0 8.1 10.8 Lynx_361 Triple Lynx including 783.9 784.5 0.6 24.6 OSK-W-20-2250-W1 719.9 722.4 2.5 27.1 Triple LynxTriple Lynx including 720.9 721.8 0.9 47.0 732.8 735.0 2.2 3.53 Triple LynxTriple Lynx 752.0 757.6 5.6 4.07 Triple LynxTriple Lynx 930.4 932.6 2.2 42.6 28 Lynx_372 Triple Lynx including 930.4 931.0 0.6 154 100 OSK-W-20-2250-W2 787.0 792.0 5.0 11.1 Lynx_364 Triple Lynx including 790.0 790.4 0.4 67.5 OSK-W-20-2253 833.8 835.9 2.1 3.33 Lynx Triple Lynx OSK-W-20-2260 834.5 836.6 2.1 20.2 Lynx_361 Triple Lynx including 834.8 835.2 0.4 93.4 OSK-W-20-2263 384.4 386.7 2.3 3.42 Lynx_311 Lynx 522.3 524.3 2.0 29.4 Lynx_356 Lynx including 522.9 523.4 0.5 68.9 593.0 595.0 2.0 4.33 Lynx Triple Lynx OSK-W-20-2266 731.8 734.0 2.2 10.3 Triple LynxTriple Lynx 752.0 755.0 3.0 10.8 Lynx_363 Triple Lynx including 753.4 753.8 0.4 21.2 OSK-W-20-2266-W1 719.2 721.3 2.1 3.36 Triple LynxTriple Lynx 737.3 747.7 10.4 34.8 18.5 Lynx_363 Triple Lynx including 742.4 743.0 0.6 373 100 and 746.4 746.7 0.3 119 100 OSK-W-20-2268 711.2 716.5 5.3 26.1 25.9 Lynx_361 Triple Lynx including 711.7 712.2 0.5 102 100 and 713.0 713.8 0.8 49.3 OSK-W-20-2269 580.1 582.5 2.4 15.5 Lynx Lynx WST-20-0286 80.0 82.0 2.0 6.52 Lynx_308 Lynx including 80.0 81.0 1.0 12.8 WST-20-0376 129.9 132.0 2.1 37.3 Lynx_359 Lynx including 129.9 130.2 0.3 93.8 WST-20-0377 137.5 141.0 3.5 28.7 21.6 Lynx_359 Lynx including 138.0 138.3 0.3 79.1 and 138.6 139.0 0.4 163 100 WST-20-0416 326.4 329.6 3.2 27.6 Lynx Lynx 336.0 338.1 2.1 4.13 Lynx Lynx 695.2 697.2 2.0 9.85 Lynx_327 Lynx including 695.8 696.3 0.5 18.7 and 696.3 696.6 0.3 27.4 710.1 712.5 2.4 4.01 Lynx_327 Lynx including 710.1 710.7 0.6 16.0 WST-20-0417 84.0 86.2 2.2 13.1 Lynx_307 Lynx including 85.0 85.7 0.7 38.6 316.0 318.2 2.2 17.6 Lynx Lynx WST-20-0418 271.1 273.1 2.0 23.8 Lynx Lynx 440.9 443.2 2.3 6.59 Lynx Lynx WST-20-0437 113.0 115.3 2.3 3.51 Lynx_304 Lynx including 113.0 113.3 0.3 14.8 WST-20-0443 107.0 109.0 2.0 7.56 Lynx_304 Lynx WST-20-0459 327.2 330.0 2.8 23.2 Lynx Lynx
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).
We seek Safe Harbor.