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Osisko Intersects Bonanza Grades at Lynx Extension and Triple Lynx

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Osisko Intersects Bonanza Grades at Lynx Extension and Triple Lynx

 

 

 

 

 

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

 

The program is currently focused on infill drilling at the Lynx deposit, exploration and expansion drilling on the main mineralized zones, and deep exploration in the central areas of the mineralized intrusive system. Sixteen drills are active at Lynx and Triple Lynx, with another seven drills conducting infill and exploration drilling on other areas of the deposit.

 

Osisko President and Chief Executive Officer John Burzynski commented: “The continued flow of strong results from Lynx is making us rethink our approach to the Windfall deposit.  We continue to see good continuity of high-grade mineralization at Lynx and now Triple Lynx, and both zones remain open for expansion down-plunge. The Lynx Extension and Triple Lynx are adding important ounces and these two recent discoveries are once again demonstrating the importance of the Lynx corridor in the Windfall mineralized system.”

 

Significant new analytical results from 14 intercepts in 2 drill holes and 10 wedges from surface focused on Lynx Extension and Triple Lynx drilling are presented below. Maps showing 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 Corridor
OSK-W-19-991-W3 1417.0 1419.6 2.6 9.00   Lynx 4 Lynx Extension
OSK-W-19-991-W4 1442.0 1446.8 4.8 29.3   Lynx 4 Lynx Extension
including 1443.0 1444.0 1.0 51.6      
OSK-W-19-1272-W1 762.2 774.9 12.7 72.3 40.1 Triple Lynx Triple Lynx
including 768.2 769.4 1.2 439 100
OSK-W-19-1272-W2 765.4 771.0 5.6 5.62   Triple Lynx Triple Lynx
  775.6 788.0 12.4 52.0 28.9 Triple Lynx Triple Lynx
including 785.5 788.0 2.5 163.8 82.8
OSK-W-19-1367-W4 1150.0 1153.9 3.9 46.7 33.4 Lynx 4 Lynx Extension
including 1151.6 1151.9 0.3 273 100
OSK-W-19-1857-W2 1322.0 1325.0 3.0 3.99   Lynx 4 Lynx Extension
OSK-W-19-1857-W4 1312.8 1316.3 3.5 145 49.8 Lynx 4 Lynx Extension
including 1312.8 1313.7 0.9 172 100
including 1313.7 1314.3 0.6 548 100
OSK-W-19-1857-W5 1402.2 1404.2 2.0 8.12   Lynx 4 Lynx Extension
OSK-W-19-1963-W1 1325.5 1327.9 2.4 56.9 55.0 Lynx 4 Lynx Extension
OSK-W-19-1975 1510.9 1512.9 2.0 7.98   Lynx 4 Lynx Extension
including 1511.2 1512.0 0.8 18.3  
OSK-W-19-1991 1127.3 1129.9 2.6 5.82   Triple Lynx Triple Lynx
including 1127.3 1128.0 0.7 14.0  
OSK-W-19-1992-W1 1393.2 1396.7 3.5 10.2   Lynx 4 Lynx Extension
  1399.9 1403.2 3.3 16.3   Lynx 4 Lynx Extension

 

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

 

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-991-W3 128 -58 1701 453980 5435993 401 4550
OSK-W-19-991-W4 128 -58 1523 453980 5435993 401 4550
OSK-W-19-1272-W1 127 -60 1101 453246 5435535 412 3675
OSK-W-19-1272-W2 127 -60 1064 453246 5435535 412 3675
OSK-W-19-1367-W4 131 -52 1386 453755 5435873 402 4300
OSK-W-19-1857-W2 108 -58 1449 453525 5435704 405 4000
OSK-W-19-1857-W4 108 -58 1415 453525 5435704 405 4000
OSK-W-19-1857-W5 108 -58 1539 453525 5435704 405 4000
OSK-W-19-1963-W1 123 -58 1461 453760 5435817 401 4275
OSK-W-19-1975 119 -58 1716 453769 5435891 402 4325
OSK-W-19-1991 358 -46 1266 453561 5434348 399 3375
OSK-W-19-1992-W1 106 -61 1875 454009 5436003 401 4575

 

OSK-W-19-991-W3 intersected 9.00 g/t Au over 2.6 metres. Mineralization consists of up to 6% disseminated and stringer pyrite in a weakly bleached and carbonate altered rhyolite close to the contact with a bleached gabbro.

 

OSK-W-19-991-W4 intersected 29.3 g/t Au over 4.8 metres. Mineralization consists of up to 15% disseminated and stringer pyrite, trace molybdenite and sphalerite, and smoky quartz veins hosted in a moderate silica and carbonate altered rhyolite.

 

OSK-W-19-1272-W1 intersected 72.3 g/t Au over 12.7 metres. Mineralization consists of trace to 1% local visible gold in clusters and stringers, 7% disseminated and clustered pyrite, 2% pyrite stringers and 1% disseminated sphalerite with pervasive silica flooding and ptygmatic tourmaline veins hosted in strongly fuchsitized, silicified and sericitized rhyolite and gabbro.

 

OSK-W-19-1272-W2 intersected 5.62 g/t Au over 5.6 metres and 52.0 g/t Au over 12.4 metres. The first interval contains trace of pyrite stringers in a moderate silica altered rhyolite. The second interval contains local visible gold clusters, 10% disseminated pyrite and traces of chalcopyrite with pervasive silica flooding, 2% pyrite stringers within an alternation of moderate to strongly silica and sericite altered rhyolite and gabbro.

 

OSK-W-19-1367-W4 intersected 46.7 g/t Au over 3.9 metres. Mineralization consists of local visible gold and up to 10% pyrite stringers associated to silica flooding hosted in a moderate fuchsite and sericite altered rhyolite.

 

OSK-W-19-1857-W2 intersected 3.99 g/t Au over 3.0 metres. Mineralization consists of trace disseminated pyrite hosted in a moderate sericite altered rhyolite.

 

OSK-W-19-1857-W4 intersected 145 g/t Au over 3.5 metres. Mineralization consists of local visible gold and trace disseminated pyrite hosted in a strong sericite and moderate carbonate altered rhyolite.

 

OSK-W-19-1857-W5 intersected 8.12 g/t Au over 2.0 metres. Mineralization consists of 5% pyrite clusters and 1% chalcopyrite clusters with pervasive silica flooding hosted in a strongly silica and sericite altered rhyolite.

 

OSK-W-19-1963-W1 intersected 56.9 g/t Au over 2.4 metres. Mineralization consists of trace of visible gold and electrum, and 5% pyrite tourmaline clusters in a moderate silica and strong sericite altered rhyolite with breccia texture showing a sericite matrix with quartz fragments, tourmaline ptygmatic veins, quartz carbonate veins and trace fuchsite.

 

OSK-W-19-1975 intersected 7.98 g/t Au over 2.0 metres. Mineralization consists of 5% disseminated pyrite, 3% pyrite-tourmaline stringers and ptygmatic tourmaline veins hosted in moderate silica altered dacite.

 

OSK-W-19-1991 intersected 5.82 g/t Au over 2.6 metres.  Mineralization consists of up to 5% pyrite and 2% sphalerite stringers with smoky quartz veins hosted in a strong silica altered rhyolite at the contact with a felsic porphyritic intrusion.

 

OSK-W-19-1992-W2 intersected 10.2 g/t Au over 3.5 metres and 16.3 g/t Au over 3.3 metres. Mineralization in both intervals consists of up to 7% pyrite in crustiform quartz-carbonate veins, 10% pyrite stringers, 5% disseminated pyrite, 3% pyrite cluster and trace chalcopyrite hosted in a moderate sericite-fuchsite and weakly silicified 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 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. 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, or (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 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 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 (over 2,700 square kilometres).

 

Posted September 9, 2019

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