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Osisko Intersects 68.5 g/t Au Over 2.9 Metres at Lynx

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Osisko Intersects 68.5 g/t Au Over 2.9 Metres at Lynx

 

 

 

 

 

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 17 intercepts in 5 drill holes and 6 wedges focused on infill drilling in the Lynx 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: 68.9 g/t Au over 2.9 metres in OSK-W-18-1443; 33.8 g/t Au over 5.0 metres and 48.0 g/t Au over 2.0 metres in OSK-W-18-1436; 80.0 g/t Au over 2.1 metres in OSK-W-18-1367-W2 and 28.0 g/t Au over 3.0 metres in OSK-W-17-1397. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

 

 

Hole Number From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
Zone Corridor
OSK-W-17-1166-W4 672.0 674.0 2.0 11.1   Lynx 2 Lynx
OSK-W-17-1343-W2 937.0 939.0 2.0 3.59   Lynx 4 Lynx
  1134.0 1137.0 3.0 6.31   Lynx 6 Lynx
including 379.0 380.0 1.0 97.7  
OSK-W-17-1396 707.0 709.5 2.5 5.80   Lynx 4 Lynx
OSK-W-17-1397 113.6 116.0 2.4 3.35   Lynx HW Lynx
including 114.7 115.1 0.4 16.8  
  128.6 131.6 3.0 28.0 21.2 Lynx 1 Lynx
including 128.6 128.9 0.3 98.7  
including 130.9 131.2 0.3 168 100
  173.0 175.0 2.0 5.38   Lynx 2 Lynx
including 173.0 174.0 1.0 10.7  
OSK-W-18-923-W2 895.0 897.2 2.2 5.32   Lynx 4 Lynx
including 895.8 896.1 0.3 38.5  
  911.1 917.0 5.9 10.1   Lynx 4 Lynx
including 916.2 917.0 0.8 60.8  
OSK-W-18-1169-W1 888.0 890.0 2.0 7.69   Lynx 4 Lynx
including 889.2 889.6 0.4 31.6  
OSK-W-18-1367-W2 1169.6   1171.7 2.1 80.0 22.8 Lynx 4 Lynx
including 1171.4 1171.7 0.3 501 100
OSK-W-18-1414-W2 1039.0 1041.0 2.0 5.38   Lynx 4 Lynx
including 1039.0 1039.9 0.9 11.6      
OSK-W-18-1429 688.4 690.5 2.1 16.9   Lynx HW Lynx
including 690.1 690.5 0.4 41.7  
OSK-W-18-1436 902.5 904.5 2.0 8.40   Lynx 4 Lynx
including 903.3 903.6 0.3 49.8  
  1062.3 1064.3 2.0 48.0 25.2 Lynx 4 Lynx
including 1063.8 1064.3 0.5 191  
  1069.2 1074.2 5.0 33.8   Lynx 4 Lynx
including 1069.2 1069.8 0.6 97.6  
OSK-W-18-1443 668.0 670.9 2.9 68.5 45.1 Lynx 4 Lynx
including 668.9 669.9 1.0 168 100

 

Notes: True widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below. Definitions: HW = Hanging Wall.

 

 

 

Hole Number Azimuth
(°)
Dip
(°)
Length
(m)
UTM E UTM N Section
OSK-W-17-1166-W4 132 -59 1236 453621 5435639 4050
OSK-W-17-1343-W2 137 -56 1323 453570 5435490 3950
OSK-W-17-1396 134 -52 956 453439 5435484 3825
OSK-W-17-1397 333 -61 732 453300 5434964 3450
OSK-W-18-923-W2 137 -56 1164 453607 5435603 4025
OSK-W-18-1169-W1 129 -55 1301 453332 5435467 3725
OSK-W-18-1367-W2 131 -52 1224 453753 5435875 4300
OSK-W-18-1414-W2 133 -58 1095 453654 5435648 4100
OSK-W-18-1429 138 -49 820 453533 5435606 3975
OSK-W-18-1436 139 -52 1128 453372 5435509 3775
OSK-W-18-1443 136 -50 792 453440 5435478 3825

 

 

OSK-W-17-1166-W4 intersected 11.1 g/t Au over 2.0 metres in Lynx 2. Mineralization is composed of up to 5% interstitial and stringer pyrite within a moderately sericitized felsic fragmental intrusion.

 

 

OSK-W-17-1343-W2 intersected two intervals: 3.59 g/t Au over 2.0 metres in Lynx 4 and 6.31 g/t Au over 3.0 metres in Lynx 6. The first interval is composed of 1% pyrite stringers within a sericitized rhyolite. The second interval is composed of up to 1% disseminated and stringer pyrite and quartz-carbonate veins within a strong chlorite, weak sericite altered rhyolite.

 

 

OSK-W-17-1396 intersected 5.80 g/t Au over 2.5 metres in the Lynx 4. Mineralization is composed of up to 1% pyrite in quartz veins at a chlorite and fuchsite altered contact between a gabbro and rhyolite.

 

 

OSK-W-17-1397 intersected three intervals: 3.35 g/t Au over 2.4 metres in Lynx HW, 28.0 g/t Au over 3.0 metres in Lynx 1 and 5.38 g/t Au over 2.0 metres in Lynx 2. The first interval is composed of stringer and disseminated pyrite and quartz veins within a strong sericite altered rhyolite. The second interval is composed of up to 3% disseminated pyrite and pyrite-silica flooding within a strong silica altered rhyolite. The last interval is composed of up to 2% pyrite in fragments or disseminated within a strong sericite, strong carbonate altered felsic fragmental dike.

 

 

OSK-W-18-923-W2 intersected two intervals in Lynx 4: 5.32 g/t Au over 2.2 metres and 10.1 g/t Au over 5.9 metres. In the first interval, mineralization is composed of 20% pyrite in quartz-tourmaline veins and disseminated within a fuchsite altered gabbro. The second interval is composed of 5% disseminated pyrite and 5% pyrite-silica flooding within a strongly sericitized rhyolite.

 

 

OSK-W-18-1169-W1 intersected 7.69 g/t Au over 2.0 metres in Lynx 4. Mineralization is composed of up to 5% pyrite stringers and 1% quartz-tourmaline veins within a strong silica, moderate sericite altered rhyolite.

 

 

OSK-W-18-1367-W2 intersected 80.0 g/t Au over 2.1 metres in Lynx 4. Mineralization is composed of 5% pyrite stringers and 1% quartz-tourmaline veins within a moderate sericite and chlorite altered felsic porphyritic dike.

 

 

OSK-W-18-1414-W2 intersected 5.38 g/t Au over 2.0 metres in Lynx 4. Mineralization is composed of 10% disseminated pyrite and 1% ptygmatic tourmaline veins at the contact of moderate silica and fuchsite altered gabbro.

 

 

OSK-W-18-1429 intersected 16.9 g/t Au over 2.1 metres in Lynx HW. Mineralization is composed of 5% pyrite stringers and 5% disseminated pyrite and local visible gold within strong silica, strong sericite and weak fuchsite altered gabbro.

 

 

OSK-W-18-1436 intersected three intervals in Lynx 4: 8.40 g/t Au over 2.0 metres, 48.0 g/t Au over 2.0 metres and 33.8 g/t Au over 5.0 metres. The first interval is composed of up to 5% pyrite-silica flooding with local visible gold within a strong silica altered rhyolite. The second interval is composed of up to 10% pyrite stringers, 5% pyrite-silica flooding and local visible gold within a strong silica altered rhyolite. The last interval is composed of 10% pyrite-silica flooding and local visible gold within a strong silica altered rhyolite.

 

 

OSK-W-18-1443 intersected 68.5 g/t Au over 2.9 metres in Lynx 4. The mineralization is composed of 15% pyrite-silica flooding and 15% disseminated pyrite within a moderate silica, sericite, carbonate and fuchsite altered gabbro.

 

 

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 (“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 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 April 17, 2018

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