The Prospector News

Osisko Discovers New Gold Zone at Fox

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Discovers New Gold Zone at Fox

 

 

 

 

 

Osisko Mining Inc. (TSX.:OSK)  is pleased to announce the discovery of a new gold bearing zone at its 100% owned Urban Barry gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

The new gold zone is located two kilometres south-west of the Fox discovery (see Osisko news releases August 29, 2016 and November 23, 2016) and consists of pyrite stringers hosted in a sericite altered dacite/ felsic intrusion.

 

Fox West is located in a six kilometre east-north-east corridor of altered porphyry dykes hosted in mafic volcanics containing a number of historic and recent gold occurrences. The Fox corridor is located approximately five kilometres northwest of the Windfall deposit. Gold mineralization in Fox West is associated with hematite altered felsic intrusions and occurs in both the hanging wall and footwall of the units. Mineralization in this new zone is similar to Windfall and the initial 2016 Fox discovery, occurring along intrusive porphyry contacts.

 

Osisko President and Chief Executive Officer John Burzynski commented: “Renewed shallow exploration drilling at Fox has turned up significant new results two kilometres to the west of the initial Fox discovery holes.  The similarities between the mineralization style at Fox and Windfall make for the exciting possibility of developing another deposit in parallel with our ongoing program at Windfall.  Additional exploration holes between the initial discovery area and Fox West are planned.”

 

Maps showing drill hole locations and full analytical results are available at www.osiskomining.com.

 

 

Hole No. From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to 100
g/t
Zone
OSK-UB-19-132 243.1 244.5 2.8 16.7   Fox West
including 243.1 244.1 1.0 45.0  
OSK-UB-19-132 253.3 256.0 2.7 3.39   Fox West

 

Previously Released Fox Intercepts

 

 

Hole No. From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to 100
g/t
Zone
OSX-W-16-717 243.9 255.5 11.6 3.22   Fox
OSK-U-16-732 65.5 68.5 3.0 8.04   Fox
OSK-U-16-734 406.0 409.1 3.1 27.6   Fox
OSK-U-16-736 260.6 262.7 2.1 5.14   Fox
OSK-U-16-738 313.0 315.6 2.6 4.32   Fox

 

 

Hole Number Azimuth
(°)
Dip
(°)
Length
(m)
UTM E UTM N Elevation Section
OSK-UB-19-132 150 -45 339 447029 5434750 399 N.A.

 

OSK-UB-19-132 intersected two mineralized intervals: 16.7 g/t Au over 2.8 metres and 3.39 g/t Au over 2.7 metres. The first interval consists of up to 15%-millimeter scale pyrite stringers hosted in a strongly sericite altered contact between a dacite and a moderate hematite and potassic altered felsic intrusion. The second interval consists of 1% quartz-tourmaline-pyrite veinlets and trace to 5% millimetric pyrite stringers hosted in a sericite altered dacite.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Pascal Simard, P.Eng. (OIQ 5002937), Director of Northern exploration for projects in Quebec, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.

 

Quality Control and Reporting Protocols

True width determination is estimated at 65-80% 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, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia. 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 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.

 

About the Windfall Lake Gold Deposit

The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake Technical Report (as defined below) and November 27, 2018 Lynx resource update, comprises 2,874,000 tonnes at 8.17 g/t Au (754,000 ounces) in the indicated mineral resource category and 10,352,000 tonnes at 7.11 g/t Au (2,366,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled “Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties” and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val-d’Or, Québec (the “Windfall Lake Technical Report”) and the press release “Osisko Releases Mineral Resource Update for Lynx” dated November 27, 2018, which has been prepared by Osisko and reviewed and approved by Micon International, Ltd. from Toronto, Ontario. The Windfall Lake Technical Report and press release are available on Osisko’s website at www.osiskomining.com and on SEDAR under Osisko’s issuer profile at www.sedar.com. The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, Zone 27, Caribou and Underdog. All zones comprise sub-vertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 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 Lake gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (2,700 square kilometres).

 

Posted June 7, 2019

Share this news article

MORE or "UNCATEGORIZED"


Pure Gold Closes Previously Announced Bought Deal Private Placement and Non-Brokered Private Placement Raising Gross Proceeds of C$47.5 Million

Pure Gold Mining Inc. (TSX-V: PGM) is pleased to announce that it... READ MORE

July 18, 2019

Bravada Closes Oversubscribed Equity Financing

Bravada Gold Corporation (TSX-V: BVA) (FSE: BRTN) (OTCQB: BGAVF) ... READ MORE

July 18, 2019

Osisko Announces Closing of Overallotment Option in Connection With the Secondary Offering of Common Shares by Orion

Osisko Gold Royalties Ltd (TSX:OR) (NYSE: OR) announces today that the s... READ MORE

July 18, 2019

Japan Gold Acquires New Gold Project in Central Honshu Further Expanding its Epithermal Gold Portfolio in Japan

Japan Gold Corp. (TSX-V: JG) (OTCQB: JGLDF) is pleased to announc... READ MORE

July 18, 2019

Sabina Gold & Silver Continues to Expand the Nuvuyak Discovery With Strong Gold Values Over Broadly Mineralized Iron Formation

Sabina Gold & Silver Corp (TSX:SBB) (OTCQX:SGSVF), is pleased... READ MORE

July 18, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions