Osisko Mining drills 3.5 m of 369 g/t Au at Windfall
2021-04-08 08:07 ET - News Release
Mr. John Burzynski reports
OSISKO DRILLING RETURNS HIGH GRADE AT LYNX
Osisko Mining Inc. has provided new analytical results from the continuing drill program at its 100-per-cent-owned Windfall gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec.
Significant new analytical results presented below include 78 intercepts in 46 drill holes (12 from surface, 22 from underground) and 12 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate ("MRE") blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 mineral resource estimate ("MRE") and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe.
Osisko Chief Executive Officer John Burzynski commented: "Once again the drilling in the Lynx area delivers both inside and outside of the February 2021 MRE blocks. Further, expansion drilling in the Triple Lynx corridor continues to provide strong targets for growth as demonstrated by Hole OSK-W-20-2371-W1, one of our top results today. As we noted in our April 7, 2021 PEA update, ongoing drilling is showing great potential to see further increases in the already strong economic base case of the Windfall deposit."
Selected high-grade intercepts include: 369 g/t Au over 3.5 metres in OSK-W-21-2369-W3; 155 g/t Au over 3.0 metres and 45.7 g/t Au over 2.1 metres in WST-21-0670; 129 g/t Au over 3.2 metres in OSK-W-20-2252-W11, 144 g/t Au over 2.5 metres in WST-21-0657; 123 g/t Au over 2.4 metres in OSK-W-20-2371-W1, 78.4 g/t Au over 3.1 metres in OSK-W-21-2480, 70.0 g/t Au over 2.6 metres in WST-20-0568, 76.4 g/t Au over 2.2 metres in WST-20-0578, and 52.6 g/t Au over 2.3 metres in OSK-W-20-2420. Maps showing hole locations and full analytical results are available at www.osiskomining.com .
Infill Drilling Hole No. From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/t Zone Corridor OSK-W-20-2416 1019.1 1021.1 2.0 7.61 TLX_3162 Triple Lynx including 1019.4 1020.0 0.6 21.6 OSK-W-20-2426 346.0 348.0 2.0 5.84 TLX_3178 Triple Lynx including 347.0 347.3 0.3 34.2 OSK-W-20-2428 720.0 722.4 2.4 25.0 Lynx_3304 Lynx including 721.1 721.9 0.8 61.0 OSK-W-20-2431 759.0 761.0 2.0 3.86 TLX_3129 Triple Lynx including 760.0 760.7 0.7 10.9 806.0 808.1 2.1 6.53 TLX_3195 Triple Lynx including 807.6 808.1 0.5 25.9 OSK-W-21-2363-W4 748.2 750.8 2.6 16.3 TLX_3171 Triple Lynx including 750.0 750.5 0.5 33.7 OSK-W-21-2369-W3 672.8 676.3 3.5 369 100 LXM_3304 Lynx Including 672.8 673.5 0.7 127 100 and 673.5 674.2 0.7 545 100 and 674.2 674.6 0.4 192 100 and 674.6 675.0 0.4 155 100 and 675.0 675.6 0.6 557 100 and 675.6 676.3 0.7 500 100 OSK-W-21-2394-W4 668.7 671.0 2.3 40.9 TLX_3184 Triple Lynx including 669.1 670.0 0.9 99.7 882.0 884.0 2.0 3.11 TLX_3130 Triple Lynx OSK-W-21-2394-W5 652.5 655.4 2.9 3.86 TLX_3171 Triple Lynx including 654.5 655.4 0.9 7.79 OSK-W-21-2416-W2 927.5 929.7 2.2 7.16 TLX_3161 Triple Lynx including 928.2 928.8 0.6 22.5 936.9 944.0 7.1 5.15 TLX_3161 Triple Lynx including 937.5 938.2 0.7 15.8 OSK-W-21-2436-W1 698.2 703.0 4.8 4.28 LX4_3424 Lynx 4 including 698.2 699.0 0.8 11.2 OSK-W-21-2443 1062.9 1065.0 2.1 6.51 Triple LynxTriple Lynx including 1064.3 1065.0 0.7 16.6 OSK-W-21-2452 714.0 716.6 2.6 13.5 TLX_3198 Triple Lynx 747.0 749.2 2.2 4.46 TLX_3129 Triple Lynx including 747.0 747.7 0.7 10.2 OSK-W-21-2457 773.7 776.0 2.3 33.4 18.6 Lynx_3437 Lynx including 774.8 775.2 0.4 185 100 OSK-W-21-2464 720.8 731.5 10.7 7.23 Lynx_3304 Lynx including 725.8 726.8 1.0 17.2 OSK-W-21-2480 741.4 744.5 3.1 78.4 31.5 LXM_3304 Lynx including 742.8 743.5 0.7 308 100 WST-20-0573 336.1 338.3 2.2 4.76 LXSW_3556 Lynx including 336.1 336.8 0.7 12.3 WST-20-0605A 461.0 463.0 2.0 9.11 LXSW_3502 Lynx including 461.7 462.3 0.6 30.2 WST-21-0614 308.0 310.0 2.0 3.74 TLX_3169 Triple Lynx 313.0 315.3 2.3 8.89 TLX_3169 Triple Lynx including 314.9 315.3 0.4 17.8 WST-21-0620A 274.0 276.0 2.0 4.97 TLX_3164 Triple Lynx WST-21-0636 114.0 116.0 2.0 4.42 LXM_3334 Lynx WST-21-0637 323.0 327.0 4.0 7.64 TLX_3167 Triple Lynx including 326.0 327.0 1.0 15.4 475.5 478.0 2.5 3.47 Lynx 4 Lynx 507.0 509.0 2.0 9.77 LX4_3450 Lynx 4 including 507.3 507.6 0.3 60.5 WST-21-0647 311.0 313.0 2.0 5.83 TLX_3166 Triple Lynx including 312.3 313.0 0.7 14.9 WST-21-0648B 59.0 61.4 2.4 4.28 Lynx_3339 Lynx WST-21-0656 284.0 286.2 2.2 3.16 TLX_3164 Triple Lynx WST-21-0657 219.5 222.0 2.5 144 55.3 TLX_3161 Triple Lynx including 220.8 221.3 0.5 543 100 WST-21-0659 360.9 364.0 3.1 6.83 TLX_3131 Triple Lynx WST-21-0670 364.3 367.3 3.0 155 64.8 TLX_3166 Triple Lynx including 364.3 365.3 1.0 369 100 369.3 371.4 2.1 45.7 23.8 TLX_3166 Triple Lynx including 369.9 370.4 0.5 191 100 409.5 412.0 2.5 6.63 TLX_3165 Triple Lynx including 410.0 410.4 0.4 30.6 WST-21-0690 274.5 276.9 2.4 7.31 TLX_3164 Triple Lynx Notes: True widths are estimated at 55 {⩱ –} 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx and LXSW = Lynx Southwest. Expansion Drilling Hole No. From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/t Zone Corridor OSK-W-20-2252-W11 944.0 946.0 2.0 4.53 Triple LynxTriple Lynx 961.1 963.5 2.4 19.1 15.2 Triple LynxTriple Lynx including 961.4 961.7 0.3 131 100 965.8 969.0 3.2 129 21.2 Triple LynxTriple Lynx including 967.8 968.1 0.3 1250 100 975.0 977.0 2.0 4.58 Triple LynxTriple Lynx OSK-W-20-2313-W10 1009.0 1011.0 2.0 3.49 Triple LynxTriple Lynx 1052.0 1054.0 2.0 22.4 Triple LynxTriple Lynx including 1052.0 1053.0 1.0 44.6 OSK-W-20-2363-W3 957.0 961.7 4.7 6.61 Triple LynxTriple Lynx including 957.0 957.6 0.6 18.4 OSK-W-20-2371-W1 1007.3 1009.7 2.4 123 27.2 Triple LynxTriple Lynx including 1007.3 1007.9 0.6 483 100 OSK-W-20-2397-W1 652.0 654.0 2.0 13.4 LXM_3304 Lynx including 652.3 653.1 0.8 33.1 OSK-W-20-2416 946.0 948.0 2.0 7.01 Triple LynxTriple Lynx 967.0 976.4 9.4 10.0 Triple LynxTriple Lynx including 971.0 972.0 1.0 29.5 OSK-W-20-2420 744.0 746.3 2.3 52.6 51.3 Lynx Lynx including 744.5 745.5 1.0 103 100 983.0 985.1 2.1 4.06 Triple LynxTriple Lynx including 983.0 984.0 1.0 8.45 OSK-W-20-2426 634.0 636.0 2.0 17.6 Triple LynxTriple Lynx including 635.0 636.0 1.0 32.4 751.0 753.0 2.0 11.7 Triple LynxTriple Lynx OSK-W-20-2428 665.0 667.3 2.3 19.3 Lynx Lynx including 665.0 666.3 1.3 34.1 686.5 690.3 3.8 4.58 Lynx Lynx including 686.5 687.0 0.5 12.2 OSK-W-20-2431 759.0 761.0 2.0 3.86 Triple LynxTriple Lynx including 760.0 760.7 0.7 10.9 806.0 808.1 2.1 6.53 TLX_3195 Triple Lynx including 807.6 808.1 0.5 25.9 OSK-W-21-2363-W4 806.6 809.0 2.4 11.5 Triple LynxTriple Lynx including 806.6 806.9 0.3 91.9 812.5 816.0 3.5 15.5 Triple LynxTriple Lynx including 812.5 813.4 0.9 33.9 OSK-W-21-2394-W5 600.0 602.0 2.0 6.49 Triple LynxTriple Lynx OSK-W-21-2443 1062.9 1065.0 2.1 6.51 Triple LynxTriple Lynx including 1064.3 1065.0 0.7 16.6 OSK-W-21-2445 590.4 593.0 2.6 3.28 Triple LynxTriple Lynx including 590.4 590.8 0.4 19.7 852.0 854.1 2.1 3.56 Triple LynxTriple Lynx OSK-W-21-2445-W1 596.2 598.5 2.3 4.04 Triple LynxTriple Lynx 618.0 620.0 2.0 3.69 Triple LynxTriple Lynx including 618.0 619.0 1.0 7.22 OSK-W-21-2459 705.6 707.9 2.3 4.49 Triple LynxTriple Lynx WST-20-0568 273.6 276.2 2.6 70.0 13.6 Lynx SW Lynx SW including 275.9 276.2 0.3 589 100 WST-20-0570 290.7 292.9 2.2 3.46 Lynx SW Lynx SW including 291.1 291.9 0.8 9.09 WST-20-0578 151.5 153.7 2.2 76.4 14.4 Lynx Lynx including 152.4 152.7 0.3 555 100 WST-20-0605A 258.0 260.0 2.0 3.58 Lynx SW Lynx SW including 258.0 259.0 1.0 7.12 WST-20-0613 376.0 385.0 9.0 7.47 Triple LynxTriple Lynx including 380.4 380.8 0.4 16.5 and 381.1 382.0 0.9 27.6 and 383.4 384.0 0.6 15.5 WST-20-0613 396.0 398.0 2.0 5.05 Triple LynxTriple Lynx 241.8 244.0 2.2 4.37 Lynx SW Lynx SW 377.9 380.0 2.1 8.67 Lynx SW Lynx SW including 377.9 378.4 0.5 36.2 WST-21-0637 172.0 174.0 2.0 5.30 Triple LynxTriple Lynx including 172.0 172.5 0.5 18.1 WST-21-0662 212.0 214.0 2.0 12.7 Lynx SW Lynx SW including 212.5 213.0 0.5 34.1 WST-21-0678 48.0 50.0 2.0 4.30 Lynx Lynx including 48.0 48.5 0.5 11.7 WST-21-0689A 389.0 391.2 2.2 8.67 Triple LynxTriple Lynx WST-21-0683 538.6 540.7 2.1 7.03 Lynx 4 Lynx
Notes: True widths are estimated at 55 {䫕 –} 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. LXM = Lynx Main, TLX = Triple Lynx and SW = Southwest.
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite plus or minus silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite plus or minus tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
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 {必 –} 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. NQ core assays 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, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (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 a Four Acid Digestion-ICP-MS 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 the Abitibi region of Quebec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled "Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Quebec, Canada" dated March 8, 2021 (with an effective date of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category . The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is 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 r esources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. T he deposit remains open along strike and at depth . Mineralization has been identified at surface in some areas and as deep as 2,625 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 gold 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.
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