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Osisko Drilling Returns High Grade at Lynx

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Osisko Drilling Returns High Grade at Lynx

 

 

 

 

 

69 g/t Au Over 3.5 Metres in Lynx

155 g/t Au Over 3.0 Metres in Triple Lynx

Osisko Mining Inc. (TSX:OSK) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

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 blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 mineral resource estimate 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)
uncut
Au (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 Lynx Triple 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)
uncut
Au (g/t)
cut to
100 g/t
Zone Corridor
OSK-W-20-2252-W11 944.0 946.0 2.0 4.53   Triple Lynx Triple Lynx
961.1 963.5 2.4 19.1 15.2 Triple Lynx Triple Lynx
including 961.4 961.7 0.3 131 100
965.8 969.0 3.2 129 21.2 Triple Lynx Triple Lynx
including 967.8 968.1 0.3 1250 100
975.0 977.0 2.0 4.58   Triple Lynx Triple Lynx
OSK-W-20-2313-W10 1009.0 1011.0 2.0 3.49   Triple Lynx Triple Lynx
1052.0 1054.0 2.0 22.4   Triple Lynx Triple Lynx
including 1052.0 1053.0 1.0 44.6
OSK-W-20-2363-W3 957.0 961.7 4.7 6.61   Triple Lynx Triple 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 Lynx Triple 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 Lynx Triple Lynx
967.0 976.4 9.4 10.0   Triple Lynx Triple 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 Lynx Triple Lynx
including 983.0 984.0 1.0 8.45
OSK-W-20-2426 634.0 636.0 2.0 17.6   Triple Lynx Triple Lynx
including 635.0 636.0 1.0 32.4
751.0 753.0 2.0 11.7   Triple Lynx Triple 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 Lynx 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 806.6 809.0 2.4 11.5   Triple Lynx Triple Lynx
including 806.6 806.9 0.3 91.9
812.5 816.0 3.5 15.5   Triple Lynx Triple Lynx
including 812.5 813.4 0.9 33.9
OSK-W-21-2394-W5 600.0 602.0 2.0 6.49   Triple Lynx Triple Lynx
OSK-W-21-2443 1062.9 1065.0 2.1 6.51   Triple Lynx Triple Lynx
including 1064.3 1065.0 0.7 16.6
OSK-W-21-2445 590.4 593.0 2.6 3.28   Triple Lynx Triple Lynx
including 590.4 590.8 0.4 19.7
852.0 854.1 2.1 3.56   Triple Lynx Triple Lynx
OSK-W-21-2445-W1 596.2 598.5 2.3 4.04   Triple Lynx Triple Lynx
618.0 620.0 2.0 3.69   Triple Lynx Triple Lynx
including 618.0 619.0 1.0 7.22
OSK-W-21-2459 705.6 707.9 2.3 4.49   Triple Lynx Triple 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 Lynx Triple 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 Lynx Triple 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 Lynx Triple 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 Lynx Triple Lynx
WST-21-0683 538.6 540.7 2.1 7.03   Lynx 4 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, TLX = Triple Lynx and SW = Southwest.

 

 

Drill hole location

 

Hole Number Azimuth
(°)
Dip
(°)
Length
(m)
UTM E UTM N Elevation Section
OSK-W-20-2252-W11 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2313-W10 134 -52 1059 452965 5435583 420 3450
OSK-W-20-2363-W3 139 -52 1185 452930 5435548 419 3425
OSK-W-20-2371-W1 123 -53 1032 452996 5435363 412 3375
OSK-W-20-2397-W1 131 -58 1200 453451 5435594 412 3900
OSK-W-20-2416 123 -54 1128 453169 5435624 412 3650
OSK-W-20-2420 124 -59 1185 453397 5435557 413 3825
OSK-W-20-2426 134 -56 1035 453008 5435388 413 3400
OSK-W-20-2428 127 -53 1257 453412 5435633 412 3875
OSK-W-20-2431 136 -57 849 453008 5435388 412 3400
OSK-W-21-2363-W4 139 -52 1270 452930 5435548 419 3425
OSK-W-21-2369-W3 130 -56 1415 453424 5435566 410 3850
OSK-W-21-2394-W4 138 -52 920 452923 5435467 414 3375
OSK-W-21-2394-W5 138 -52 915 452923 5435467 414 3375
OSK-W-21-2416-W2 123 -54 1266 453169 5435624 412 3650
OSK-W-21-2436-W1 130 -57 744 453709 5435618 400 4125
OSK-W-21-2443 127 -56 1164 453304 5435639 415 3775
OSK-W-21-2445 141 -50 945 452906 5435434 415 3325
OSK-W-21-2445-W1 141 -50 909 452906 5435434 415 3325
OSK-W-21-2452 137 -56 891 453008 5435388 412 3400
OSK-W-21-2457 15 -77 957 454135 5435058 397 4225
OSK-W-21-2459 132 -52 1227 452997 5435607 425 3500
OSK-W-21-2464 120 -53 1031 453412 5435633 412 3875
OSK-W-21-2480 121 -55 1230 453412 5435633 412 3875
WST-20-0568 157 -58 493 453104 5435065 231 3325
WST-20-0570 159 -51 454 453104 5435065 231 3325
WST-20-0573 148 -59 436 452955 5435003 253 3175
WST-20-0578 154 -47 802 453418 5435305 69 3725
WST-20-0605A 148 -61 532 453105 5435065 231 3325
WST-20-0613 123 -55 442 453358 5435273 16 3650
WST-20-0616 179 -61 459 453228 5435126 135 3475
WST-21-0614 131 -59 427 453357 5435273 16 3650
WST-21-0620A 174 -57 300 453507 5435327 -7 3800
WST-21-0636 133 -36 178 453322 5435235 55 3600
WST-21-0637 151 -47 550 453321 5435235 54 3600
WST-21-0647 150 -59 345 453228 5435126 135 3475
WST-21-0648B 166 -59 345 453228 5435126 135 3475
WST-21-0656 139 -61 322 453357 5435272 16 3650
WST-21-0657 141 -56 448 453357 5435272 16 3650
WST-21-0659 126 -45 397 453357 5435272 16 3650
WST-21-0662 149 -50 220 452955 5435003 253 3175
WST-21-0670 142 -43 471 453257 5435209 96 3525
WST-21-0678 153 -50 574 453321 5435235 55 3600
WST-21-0683 146 -40 636 453257 5435210 95 3525
WST-21-0689A 161 -64 397 453356 5435272 16 3650
WST-21-0690 150 -63 307 453356 5435272 16 3650

 

 

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 ± 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 ± 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 – Standards of Disclosure for Mineral Projects.

 

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, Québec, 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 Québec, 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, Québec, 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 resources 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. The 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 Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

Posted April 8, 2021

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