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Osisko Intersects 34.3 g/t Au Over 4.5 Metres at Windfall

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Osisko Intersects 34.3 g/t Au Over 4.5 Metres at Windfall

 

 

 

 

 

Osisko Mining Inc. (TSX:OSK) is pleased to provide new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. The 800,000 metre drill program combines definition, expansion and exploration drilling in and around the main Windfall gold deposit and the adjacent Lynx deposit (located immediately NE of Windfall).

 

 

Significant new analytical results from 24 intercepts in 12 drill holes and 5 wedges focused on infill drilling in the Windfall deposit are presented below. Today’s infill drilling results will not be included in the pending mineral resource scheduled for release in May 2018.

 

 

Highlights from the new results include: 34.3 g/t Au over 4.5 metres in OSK-W-17-1172; 13.0 g/t Au over 5.7 metres in OSK-W-18-1336-W2; 27.7 g/t Au over 2.1 metres in OSK-W-17-778, 25.5 g/t Au over 2.1 metres in OSK-W-17-1380. Maps showing hole locations and full analytical results are available atwww.osiskomining.com.

 

 

Hole No. From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
Zone Corridor
OSK-EAG-12-427 918.0 920.0 2.0 13.0   Underdog Underdog
including 918.9 920.0 1.1 23.6  
OSK-EAG-13-513 1050.0 1054.0 4.0 10.6   FW4 Underdog
including 1050.0 1052.0 2.0 18.0  
OSK-W-16-762 1253.0 1255.0 2.0 4.66   FW4 Underdog
OSK-W-17-778 917.0 919.2 2.2 11.6   FW0 Underdog
  1095.4 1098.4 3.0 10.6   FW1 Underdog
  1114.6 1117.1 2.5 9.24   FW1 Underdog
  1132.0 1134.1 2.1 27.7 19.1 FW2 Underdog
including 1132.0 1132.4 0.4 145 100
  1158.0 1160.0 2.0 4.49   FW2 Underdog
OSK-W-17-1172 136.5 141.0 4.5 34.3 27.4 Z27 Zone 27
including 136.5 137.0 0.5 44.1  
including 140.0 141.0 1.0 131 100
OSK-W-17-1336-W1 723.0 725.0 2.0 9.44   Vein Red Dog
including 723.7 724.0 0.3 62.8  
OSK-W-18-1336-W2 831.9 835.3 3.4 4.62   FW0 Underdog
  849.7 852.3 2.6 3.53   FW0 Underdog
  950.0 952.3 2.3 3.92   FW1 Underdog
  964.0 969.7 5.7 13.0   FW1 Underdog
including 967.3 967.8 0.5 92.2  
OSK-W-17-1380 361.1 363.2 2.1 25.5 25.3 Underdog Underdog
including 361.9 362.4 0.5 101 100
OSK-W-17-1394 902.7 904.8 2.1 13.0   Caribou Ext. Caribou
including 904.0 904.8 0.8 33.0  
OSK-W-18-1402-W1 683.5 686.0 2.5 3.57   Vein Red Dog
including 684.5 685.0 0.5 17.6  
OSK-W-18-1418 893.0 896.4 3.4 6.72   QTV Caribou
including 893.0 893.5 0.5 39.0  
OSK-W-18-1423 268.4 271.0 2.6 3.07   Bobcat Bobcat
OSK-W-18-1431-W1 922.1 924.6 2.5 4.25   FW3 Underdog
OSK-W-18-1431-W2 765.0 767.0 2.0 3.55   FW1 Underdog
OSK-W-18-1435 555.5 558.0 2.5 16.7   Caribou Ext. Caribou
including 555.5 556.5 1.0 40.7  
OSK-W-18-1457 52.7 55.0 2.3 10.5   Bobcat Bobcat
including 54.0 54.3 0.3 66.0  
OSK-W-18-1459 256.0 258.0 2.0 9.52   Bobcat Bobcat
including 257.5 258.0 0.5 36.4  

 

Notes: True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
  Definitions: Ext. = Extension; FW = Footwall; QTV = Quartz-Tourmaline Vein. 

 

 

 

Hole Number Azimuth
(°)
Dip
(°)
Length
(m)
UTM E UTM N Section
OSK-EAG-12-427 330 51 1215 452701 5434438 2675
OSK-EAG-13-513 330 -55 1131 452629 5434514 2650
OSK-W-16-762 332 -56 1311 452730 5434409 2675
OSK-W-17-778 331 -58 1362 452689 5434338 2600
OSK-W-17-1172 144 -49 207 452022 5434797 2250
OSK-W-17-1336-W1 335 -61 1335 452616 5434449 2600
OSK-W-18-1336-W2 335 -61 1193 452616 5434449 2600
OSK-W-17-1380 335 -45 624 451895 5434473 1975
OSK-W-17-1394 335 -49 1165 453146 5434512 3100
OSK-W-18-1402-W1 330 -59 1224 452616 5434449 2600
OSK-W-18-1418 334 -45 1077 453288 5434531 3225
OSK-W-18-1423 327 -61 792 453025 5434853 3150
OSK-W-18-1431-W1 337 -62 1092 452287 5434336 2250
OSK-W-18-1431-W2 337 -62 1140 452287 5434336 2250
OSK-W-18-1435 331 -65 801 453028 5434848 3150
OSK-W-18-1457 137 -57 318 452982 5435148 3275
OSK-W-18-1459 132 -50 621 452860 5435186 3175

 

 

OSK-EAG-12-427 intersected 13.0 g/t Au over 2.0 metres in Underdog. Mineralization contains 5% pyrite stringers within an enclave of foliated andesite in a porphyric felsic dike.

 

 

OSK-EAG-13-513 intersected FW4 with 10.6 g/t Au over 4.0 metres in Underdog. Mineralization contains up to 5% pyrite stringers and 3% disseminated pyrite within a moderately sericitized felsic dike.

 

 

OSK-W-16-762 intersected FW4 with 4.66 g/t Au over 2.0 metres in Underdog. Mineralization contains 5% semi-massive pyrite and 2% pyrite stringers within a bleached andesite with moderate silica and sericite alteration.

 

 

OSK-W-17-778 intersected five intervals in Underdog: 11.6 g/t Au over 2.2 metres in FW0, 10.6 g/t Au over 3.0 metres and 9.24 g/t Au over 2.5 metres in FW1, and 27.7 g/t Au over 2.1 metres and 4.49 g/t Au over 2.0 metres in FW2. The first interval contains local visible gold with 15% pyrite-silica flooding in a sericitized and bleached felsic porphyritic intrusion. The second and third intervals contain up to 5% pyrite and pyrite-tourmaline stringers and up to 12% disseminated and cluster pyrite with patchy silica hosted in a strongly bleached to sericitized and silicified felsic porphyritic dike. The fourth interval is similar to the previous ones and contains local visible gold.

 

 

OSK-W-17-1172 intersected 34.3 g/t Au over 4.5 metres in Zone 27. Mineralization contains up 1% disseminated pyrite, 5% pyrite and pyrite-tourmaline stringers in a moderately silicified porphyritic felsic dike.

 

 

OSK-W-17-1336-W1 intersected 9.44 g/t Au over 2.0 metres in a vein in the Red Dog intrusive (hematized monzonite). Mineralization contains local visible gold within a centimetre-thick pyrite stringer.

 

 

OSK-W-17-1336-W2 intersected four intervals: 4.62 g/t Au over 3.4 metres and 3.53 g/t Au over 2.6 metres in FW0, 3.92 g/t Au over 2.3 metres and 13.0 g/t Au over 5.7 metres in FW1. The first interval contains local visible gold in a ptygmatic tourmaline vein hosted in a porphyritic felsic dike with up to 3% pyrite-tourmaline stringers and pyrite clusters in pervasive silica flooding. The second interval contains 2 to 5% semi-massive pyrite clusters, 1 to 3% pyrite stringers with smoky quartz-chlorite-tourmaline, local pervasive silica flooding, ptygmatic tourmaline veinlets, 2% semi-massive to massive pyrite associated with mafic fuchsitized fragments and 2% disseminated pyrite all hosted in a sericitized porphyritic felsic unit. The third interval contains up to 15% pyrite-tourmaline stringers hosted in a silicified and sericitized porphyritic felsic dike. The last interval contains local visible gold with up to 20% pyrite-silica flooding and 2% pyrite-tourmaline stringers within a silicified and sericitized felsic dike.

 

 

OSK-W-17-1380 intersected 25.5 g/t Au over 2.1 metres in Underdog. Mineralization contains semi-massive to massive pyrite, up to 7% pyrite-tourmaline and pyrite stringers and 3% disseminated pyrite within a sericitized porphyritic felsic dike. It is located 50 metres west of OSK-EAG-13-505 (8.37 g/t Au over 4.8 metres, previously released January 16, 2018).

 

 

OSK-W-17-1394 intersected 13.0 g/t Au over 2.1 metres in Caribou Extension. Mineralization contains 1% disseminated pyrite and traces of pyrite stringers within a chloritized andesite with moderate carbonate alteration.

 

 

OSK-W-18-1402-W1 intersected a mineralized vein in Red Dog intrusion returning 3.57 g/t Au over 2.5 metres. Mineralization is composed of 20-centimetre wide quartz vein with traces of pyrite.

 

 

OSK-W-18-1418 intersected 6.72 g/t Au over 3.4 metres in Caribou. Mineralization contains up to 5% pyrite and quartz-tourmaline veins at the chloritized contact between an andesite and a porphyric felsic dike. 

 

 

OSK-W-18-1423 intersected 3.07 g/t Au over 2.6 metres in Bobcat. Mineralization corresponds with quartz-carbonates veins with 5% pyrite in a moderately sericitized andesite with fuschite and up to 2% disseminated pyrite.

 

 

OSK-W-18-1431-W1 intersected FW3 with 4.25 g/t Au over 2.5 metres in Underdog. Mineralization is composed of two decimetre-scale pyrite stringers within a sericitized and silicified porphyritic felsic dike.

 

 

OSK-W-18-1431-W2 intersected FW1 with 3.55 g/t Au over 2.0 metres in Underdog. Mineralization contains up to 5% fragments of pyrite-stringers and 3% disseminated pyrite in a foliated and sericitized porphyritic felsic dike with fuchsite.

 

 

OSK-W-18-1435 intersected 16.7 g/t Au over 2.5 metres related to Caribou Extension. Mineralization contains 1% disseminated pyrite and 3% pyrite-quartz clusters within a gabbro with moderate carbonate alteration.

 

 

OSK-W-18-1457 intersected 10.5 g/t Au over 2.3 metres in Bobcat. Mineralization contains up to 4% pyrite stringers associated with a tourmaline breccia hosted in a sericitized felsic porphyritic intrusion.

 

 

OSK-W-18-1459 intersected 9.52 g/t Au over 2.0 metres in Bobcat. Mineralization contains 8% pyrite stringer, 3% pyrite stringers and clusters and 2% pyrite in a crustiform vein in a silicified and chloritized gabbro with strong fuchsite alteration.

 

 

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 the 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 widths determinations are estimated at 65-80% of the reported core length intervals for most of the zones. 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 ALS Laboratories in Val d’Or, Québec, Thunder Bay and Sudbury, Ontario or Vancouver, British Colombia or 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 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 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 the previous operator comprises 2,762,000 tonnes at 8.42 g/t Au (748.000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% 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 Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Quebec and Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments as of December 31, 2017.

 

Posted May 3, 2018

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