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Osisko Expansion Drilling Adds New High Grade at Lynx

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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.

 

Drilling is currently focused on the Lynx deposit. Significant new analytical results presented below include 66 intercepts in 22 drill holes (5 from surface, 17 from underground) and 21 wedges. The intercepts are located outside the February 2021 mineral resource estimate (see Osisko news release dated February 17, 2021) 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: “Today’s expansion results in Lynx and Triple Lynx continue to confirm the growth potential of these zones. The higher-grade intercept in OSK-W-20-2381-W1 extends Lynx 90 metres from the nearest MRE block and WST-20-0602 extends Triple Lynx 100 metres from the nearest MRE block”.

 

Selected high-grade intercepts include: 177 g/t Au over 3.0 metres and 66.6 g/t Au over 2.0 metres in OSK-W-20-2381-W1; 43.4 g/t Au over 5.3 metres in WST-20-0602; 56.4 g/t Au over 3.2 metres in WST-20-0603; 52.1 g/t Au over 3.4 metres in WST-20-0611; 70.2 g/t Au over 2.2 metres in OSK-W-20-2313-W7; 57.2 g/t Au over 2.1 metres in OSK-W-20-2391; and 25.1 g/t Au over 4.8 metres in OSK-W-20-2252-W8. Maps showing hole locations and full analytical results are available at www.osiskomining.com

 

 

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-20-2170-W7 1029.6 1031.9 2.3 11.1   Triple Lynx Triple Lynx
including 1029.6 1030.0 0.4 59.7  
OSK-W-20-2252-W10 1182.6 1184.8 2.2 3.89   Triple Lynx Triple Lynx
  1190.2 1192.4 2.2 13.8   Triple Lynx Triple Lynx
including 1191.2 1192.1 0.9 31.3  
  1204.3 1206.3 2.0 4.22   Triple Lynx Triple Lynx
OSK-W-20-2252-W8 975.2 980.0 4.8 25.1 22.6 Triple Lynx Triple Lynx
including 976.5 977.7 1.2 85.8 75.6
OSK-W-20-2271-W2 1133.5 1135.5 2.0 3.64   Lynx 4 Lynx
including 1134.0 1134.5 0.5 14.5  
OSK-W-20-2271-W5 1064.6 1067.4 2.8 4.74   Lynx 4 Lynx
including 1064.6 1065.0 0.4 13.1  
OSK-W-20-2280-W7 977.0 981.8 4.8 7.78   Triple Lynx Triple Lynx
including 977.0 977.4 0.4 30.4  
OSK-W-20-2283-W2 951.0 953.0 2.0 3.94   Triple Lynx Triple Lynx
OSK-W-20-2287 1245.0 1247.0 2.0 3.51   Lynx 4 Lynx
OSK-W-20-2292-W1 1131.8 1134.0 2.2 3.66   Triple Lynx Triple Lynx
including 1131.8 1132.1 0.3 23.5  
OSK-W-20-2313-W7 993.0 995.2 2.2 70.2 14.4 Triple Lynx Triple Lynx
including 994.9 995.2 0.3 509 100
OSK-W-20-2313-W9 793.0 797.5 4.5 5.65   Triple Lynx Triple Lynx
including 796.5 797.5 1.0 13.4  
OSK-W-20-2322-W1 1047.4 1049.7 2.3 3.69   Lynx 4 Lynx
including 1047.4 1048.0 0.6 13.7  
OSK-W-20-2328 898.2 900.5 2.3 3.64   Lynx 4 Lynx
OSK-W-20-2363 578.0 582.0 4.0 6.19   Triple Lynx Triple Lynx
including 581.3 582.0 0.7 24.4  
OSK-W-20-2363-W1 662.0 664.1 2.1 4.43   Triple Lynx Triple Lynx
OSK-W-20-2363-W2 751.0 753.5 2.5 5.90   Triple Lynx Triple Lynx
including 753.0 753.5 0.5 12.0  
  867.6 870.0 2.4 5.18   Triple Lynx Triple Lynx
including 867.6 868.0 0.4 27.7  
  887.0 889.0 2.0 3.75   Triple Lynx Triple Lynx
OSK-W-20-2363-W3 999.1 1001.6 2.5 4.52   Triple Lynx Triple Lynx
OSK-W-20-2371-W1 654.0 656.3 2.3 17.9   Triple Lynx Triple Lynx
including 655.2 655.8 0.6 60.8  
  717.0 719.0 2.0 5.97   Triple Lynx Triple Lynx
  937.0 939.0 2.0 3.68   Triple Lynx Triple Lynx
including 938.1 938.4 0.3 20.4  
  977.5 980.9 3.4 10.8   Triple Lynx Triple Lynx
including 977.5 977.8 0.3 70.1  
OSK-W-20-2371-W2 815.0 817.0 2.0 3.60   Triple Lynx Triple Lynx
  1047.0 1049.0 2.0 4.04   Lynx 4 Lynx
including 1047.4 1048.1 0.7 11.4  
OSK-W-20-2375-W3 918.0 920.0 2.0 3.86   Lynx 4 Lynx
OSK-W-20-2381-W1 1332.0 1335.0 3.0 177 38.2 Lynx 4 Lynx
including 1332.0 1333.0 1.0 515 100
  1364.5 1366.5 2.0 66.6 26.6 Lynx 4 Lynx
including 1366.1 1366.5 0.4 300 100
OSK-W-20-2391 1183.3 1185.4 2.1 57.2 26.2 Triple Lynx Triple Lynx
including 1185.1 1185.4 0.3 317 100
  1283.0 1285.1 2.1 9.73   Triple Lynx Triple Lynx
including 1283.7 1284.0 0.3 58.1  
OSK-W-20-2391-W2 1380.0 1382.0 2.0 10.7   Triple Lynx Triple Lynx
including 1380.9 1381.2 0.3 65.3  
  1390.3 1394.7 4.4 21.2   Triple Lynx Triple Lynx
including 1392.8 1393.1 0.3 65.3  
and 1393.9 1394.7 0.8 58.0  
OSK-W-20-2394-W1 889.0 891.0 2.0 5.04   Triple Lynx Triple Lynx
OSK-W-20-2394-W3 1012.6 1015.0 2.4 33.5   Triple Lynx Triple Lynx
including 1013.2 1014.0 0.8 99.9  
OSK-W-21-2445 445.0 447.0 2.0 10.3   Triple Lynx Triple Lynx
including 446.7 447.0 0.3 61.6  
WST-20-0522 243.0 245.1 2.1 3.79   Lynx SW Lynx SW
WST-20-0523A 297.0 299.0 2.0 3.83   Lynx SW Lynx SW
WST-20-0524 238.7 241.0 2.3 3.60   Lynx SW Lynx SW
including 239.6 240.0 0.4 16.9  
WST-20-0548A 271.4 273.6 2.2 3.60   Triple Lynx Triple Lynx
including 272.1 272.8 0.7 10.9  
WST-20-0554 357.4 359.4 2.0 6.43   Triple Lynx Triple Lynx
  424.0 426.2 2.2 3.77   Triple Lynx Triple Lynx
WST-20-0569 412.0 414.0 2.0 4.31   Lynx SW Lynx
including 412.4 412.7 0.3 27.6  
WST-20-0570 323.0 325.0 2.0 3.85   Lynx SW Lynx SW
WST-20-0574 302.9 305.7 2.8 9.11   Lynx SW Lynx SW
  308.0 310.0 2.0 4.07   Lynx SW Lynx SW
  394.5 396.9 2.4 5.64   Lynx SW Lynx SW
  416.0 418.7 2.7 9.20   Lynx SW Lynx SW
including 418.4 418.7 0.3 78.9  
  510.8 513.0 2.2 4.58   Lynx SW Lynx SW
including 511.7 512.2 0.5 20.0  
WST-20-0575 159.0 161.0 2.0 3.54   Triple Lynx Triple Lynx
WST-20-0602 397.1 400.4 3.3 9.53   Lynx SW Lynx SW
including 397.6 398.0 0.4 28.7  
  572.0 577.3 5.3 43.4 29.9 Lynx SW Lynx SW
including 572.0 573.0 1.0 172 100
WST-20-0603 250.5 253.7 3.2 56.4 34.3 Lynx SW Lynx SW
including 252.0 252.7 0.7 201 100
  257.8 260.0 2.2 5.07   Lynx SW Lynx SW
  278.0 280.0 2.0 28.0   Triple Lynx Triple Lynx
including 278.7 279.2 0.5 95.2  
WST-20-0606A 248.5 250.5 2.0 5.41   Lynx SW Lynx SW
  273.2 275.2 2.0 15.3   Lynx SW Lynx SW
including 273.7 274.0 0.3 37.3  
  329.0 331.0 2.0 4.41   Lynx SW Lynx SW
WST-20-0609 299.0 301.4 2.4 12.9   Lynx SW Lynx SW
including 300.9 301.4 0.5 57.0  
  326.7 329.0 2.3 4.77   Triple Lynx Triple Lynx
including 326.7 327.4 0.7 11.1  
  346.7 349.0 2.3 3.90   Lynx SW Lynx SW
including 346.7 347.2 0.5 17.4  
WST-20-0611 289.0 292.4 3.4 52.1 27.0 Triple Lynx Triple Lynx
including 291.8 292.4 0.6 242 100
WST-20-0615 258.1 260.5 2.4 12.0   Lynx SW Lynx SW
WST-20-0626 451.7 453.8 2.1 4.51   Lynx SW Lynx SW
WST-20-0631 14.8 17.0 2.2 7.22   Lynx Lynx
including 14.8 15.6 0.8 19.7  

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.

 

 

Drill hole location

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2170-W7 128 -59 1205 453425 5435657 413 3900
OSK-W-20-2252-W10 129 -54 1226 453241 5435694 415 3750
OSK-W-20-2252-W8 129 -54 1239 453241 5435694 415 3750
OSK-W-20-2271-W2 120 -53 1223 453462 5435682 410 3950
OSK-W-20-2271-W5 120 -53 1247 453462 5435682 410 3950
OSK-W-20-2280-W7 127 -58 1131 453304 5435639 415 3775
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-20-2287 116 -53 1406 453607 5435714 404 4075
OSK-W-20-2292-W1 125 -54 1149 453035 5435561 420 3525
OSK-W-20-2313-W7 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2313-W9 134 -52 1218 452965 5435583 420 3450
OSK-W-20-2322-W1 130 -54 1233 453608 5435715 403 4075
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2363-W1 139 -52 1059 452930 5435548 419 3425
OSK-W-20-2363-W2 139 -52 1035 452930 5435548 419 3425
OSK-W-20-2363-W3 139 -52 1185 452930 5435548 419 3425
OSK-W-20-2371-W1 123 -53 1032 452996 5435364 412 3375
OSK-W-20-2371-W2 123 -53 1251 452996 5435364 412 3375
OSK-W-20-2375-W3 122 -56 1020 453810 5435779 400 4300
OSK-W-20-2381-W1 134 -53 1512 453620 5435791 402 4125
OSK-W-20-2391 117 -57 1629 453281 5435894 408 3900
OSK-W-20-2391-W2 117 -57 1888 453281 5435894 408 3900
OSK-W-20-2394-W1 138 -52 1065 452922 5435468 415 3375
OSK-W-20-2394-W3 138 -52 1020 452922 5435468 415 3375
OSK-W-21-2445 141 -50 945 452906 5435434 415 3325
WST-20-0522 177 -52 457 453104 5435064 231 3325
WST-20-0523A 165 -46 387 453104 5435065 231 3325
WST-20-0524 182 -44 243 453103 5435064 231 3325
WST-20-0548A 166 -60 370 453228 5435126 135 3475
WST-20-0554 148 -44 562 453257 5435209 96 3525
WST-20-0569 164 -59 526 453104 5435065 231 3325
WST-20-0570 159 -51 454 453104 5435065 231 3325
WST-20-0574 139 -63 523 452955 5435003 253 3175
WST-20-0575 280 -33 280 453413 5435309 69 3725
WST-20-0602 160 -62 651 453227 5435126 134 3475
WST-20-0603 161 -59 525 453227 5435125 134 3475
WST-20-0606A 141 -56 531 453105 5435065 231 3325
WST-20-0609 188 -56 461 453177 5435126 173 3425
WST-20-0611 118 -63 378 453358 5435273 16 3650
WST-20-0615 177 -58 519 453227 5435125 134 3475
WST-20-0626 194 -59 471 453176 5435125 173 3425
WST-20-0631 136 -3 166 453322 5435235 55 3600

 

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 March 17, 2021

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