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Osisko Lynx Infill Drilling Continues to Return High Grades

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Osisko Lynx Infill Drilling Continues to Return High Grades

 

 

 

 

 

Osisko Mining Inc. (TSX:OSK) is pleased to provide new infill drilling results from its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec. The new results are from the general area being considered for the planned bulk sample in the Lynx deposit.  A closely spaced infill drill program (approximately 10 metres x 10 metres) has been designed to increase the geological control and grade definition to further test and select the location for the bulk test. The definition program is in progress, and the location of the Lynx bulk sample will be chosen on completion of the program in the coming months.  Highlights include:

 

224 g/t Au over 2.8 metres and
77.9 g/t Au over 2.1 metres in OSK-W-18-1804;
51.2 g/t Au over 3.2 metres in OSK-W-18-1812;
43.7 g/t Au over 3.2 metres in OSK-W-19-1850;
56.0 g/t Au over 2.2 metres in OSK-W-19-1865;
38.6 g/t Au over 2.2 metres in OSK-W-19-1855;
32.6 g/t Au over 2.4 metres in OSK-W-18-1811;
18.0 g/t Au over 4.7 metres in OSK-W-18-1807; and
28.6 g/t Au over 2.3 metres in OSK-W-19-1860.  

 

Maps showing hole locations, and full analytical results are available at www.osiskomining.com. Significant new analytical results from 19 intercepts in 11 drill holes are presented below.

 

 

Hole Number From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to
100 g/t
Type Mineralized
Zone
OSK-W-18-1804 280.0 282.8 2.8 224 20.3 Infill Lynx_305
including 282.5 282.8 0.3 2000 100
  308.6 312.7 4.1 10.8   Infill Lynx_308
including 310.9 311.3 0.4 69.3  
  314.9 317.0 2.1 77.9 58.5 Infill Lynx_308
including 315.8 317.0 1.2 134 100
OSK-W-18-1807 260.9 263.2 2.3 3.14   Infill Lynx_304
  267.3 272.0 4.7 18.0   Infill Lynx_304
including 267.3 267.8 0.5 80.0  
OSK-W-18-1809 228.0 230.0 2.0 3.40   Infill Lynx_310
including 228.0 228.6 0.6 9.56  
  265.0 267.3 2.3 6.13   Infill Lynx_308
including 265.9 266.2 0.3 25.8  
OSK-W-18-1811 188.0 190.4 2.4 4.10   Infill Lynx_304
  214.6 217.0 2.4 5.56   Infill Lynx_305
  255.5 257.5 2.0 15.2   Infill Lynx_308
including 256.8 257.5 0.7 40.9  
  268.6 271.0 2.4 32.6 25.7 Infill Lynx_311
including 269.8 270.4 0.6 128 100
OSK-W-18-1812 266.3 269.5 3.2 51.2 40.7 Infill Lynx_311
including 266.8 267.9 1.1 131 100
OSK-W-19-1846 239.9 243.0 3.1 11.3   Infill Lynx_311
including 242.3 243.0 0.7 33.5  
OSK-W-19-1850 228.2 231.4 3.2 43.7 37.6 Infill Lynx_311
including 230.3 231.4 1.1 118 100
OSK-W-19-1852 248.0 250.6 2.6 14.8   Infill Lynx_311
including 248.9 249.3 0.4 80.2  
OSK-W-19-1855 272.8 275.0 2.2 38.6 19.1 Infill Lynx_310
including 274.6 275.0 0.4 207 100
  281.0 284.3 3.3 6.04   Infill Lynx_305
including 283.9 284.3 0.4 18.1  
OSK-W-19-1860 310.7 313.0 2.3 28.6   Infill Lynx_304
including 311.0 311.9 0.9 70.7  
OSK-W-19-1865 313.3 315.5 2.2 56.0 33.0 Infill Lynx_304
including 314.2 314.9 0.7 172 100

 

 Note: True widths are estimated at 65 – 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
(m)
Section
OSK-W-18-1804 331 -56 345 453414 5434922 396 3525
OSK-W-18-1807 332 -56 297 453423 5434923 396 3530
OSK-W-18-1809 328 -51 291 453366 5434931 396 3500
OSK-W-18-1811 333 -51 317 453365 5434931 397 3500
OSK-W-18-1812 330 -50 303 453366 5434932 396 3500
OSK-W-19-1846 330 -58 324 453324 5434949 398 3475
OSK-W-19-1850 329 -58 270 453320 5434954 398 3475
OSK-W-19-1852 330 -58 300 453312 5434949 397 3440
OSK-W-19-1855 124 -45 351 453178 5435190 404 3450
OSK-W-19-1860 124 -45 333 453186 5435200 403 3465
OSK-W-19-1865 124 -45 339 453189 5435213 404 3475

 

OSK-W-18-1804 intersected three intervals: 224 g/t Au over 2.8 metres, 10.8 g/t Au over 4.1 metres and 77.9 g/t Au over 2.1 metres. The first interval contains pyrite-tourmaline stringers with local visible gold, 5% pyrite clusters, and trace pyrite stringers in a fragmental rhyolite with moderate to strong silica alteration. The second interval contains 3% disseminated pyrite and trace sphalerite in pervasive silica flooding, trace pyrite-tourmaline stringers and 1% disseminated pyrite in a strongly silicified rhyolite. The third interval contains up to 2% pyrite stringers, trace disseminated pyrite and clusters, and trace pyrite in tourmaline ptygmatic veins in a chloritized and slightly sericitized gabbro.

 

OSK-W-18-1807 intersected two intervals: 3.14 g/t Au over 2.3 metres and 18.0 g/t Au over 4.7 metres.  The first interval contains 3% pyrite with pervasive silica flooding and tourmaline ptygmatic and quartz-tourmaline veins and 1% pyrite-tourmaline stringers in alternating silicified and sericitized fragmental intrusions, rhyolites and porphyritic felsic dikes. The second interval contains 35% semi massive pyrite with pervasive silica flooding in a strongly silicified and a weakly fuchsite and sericite altered porphyritic felsic dike.

 

OSK-W-18-1809 intersected two intervals: 3.40 g/t Au over 2.0 metres and 6.13 g/t Au over 2.3 metres. The first interval contains up to 4% pyrite clusters in pervasive silica flooding in a silicified and sericitized fragmental felsic dike. The second interval contains trace pyrite in pervasive silica flooding and trace pyrite-tourmaline stringers with local visible gold in pervasive silica flooding with fuchsite hosted in a sericitized and silicified rhyolite.

 

OSK-W-18-1811 intersected four intervals: 4.10 g/t Au over 2.4 metres, 5.56 g/t Au over 2.4 metres, 15.2 g/t Au over 2.0 metres and 32.6 g/t Au over 2.4 metres. The first interval contains of 5% pyrite clusters and 4% disseminated pyrite in a moderate sericite and weak silica altered dacite. The second interval contains trace pyrite-tourmaline stringers, and pyrite-tourmaline veins in a moderate chlorite and weak sericite and silica altered gabbro. The third interval contains 8% disseminated pyrite in clusters or fracture filling, trace chalcopyrite in quartz-tourmaline veins, and 1% pyrite-tourmaline stringers in a bleached and sericitized andesite. The fourth interval contains up to 15% pyrite stringers and 5% disseminated pyrite in silica flooding within a moderately sericitized porphyritic felsic dike.

 

OSK-W-18-1812 intersected 51.2 g/t Au over 3.2 metres. Mineralization consists of local visible gold, up to 15% pyrite and trace sphalerite associated within pervasive silica flooding, moderate fuchsite and moderate sericite altered rhyolite.

 

OSK-W-19-1846 intersected 11.3 g/t Au over 3.1 metres. Mineralization consists of local visible gold, up to 15% pyrite stringers with pyrite-silica flooding hosted in strong silica, moderate sericite and weak fuchsite altered rhyolite.

 

OSK-W-19-1850 intersected 43.7 g/t Au over 3.2 metres. Mineralization consists of local visible gold, up to 15% disseminated pyrite and stringers, 5% disseminated sphalerite and pyrite-tourmaline stringers hosted in a strong silica and fuchsite altered rhyolite.

 

OSK-W-19-1852 intersected 14.8 g/t Au over 2.6 metres. Mineralization consists of local visible gold, up to 7% pyrite clusters and stringers with pervasive silica flooding hosted in a strong silica, moderate sericite, fuchsite and carbonates altered rhyolite.

 

OSK-W-19-1855 intersected 38.6 g/t Au over 2.2 metres and 6.04 g/t Au over 3.3 metres. The first interval contains local visible gold and 1% pyrite stringers hosted in a strong silica altered fragmental felsic intrusion. The second interval contains 1% disseminated pyrite with quartz-tourmaline veins hosted in a weak sericite and silica altered fragmental felsic intrusion.

 

OSK-W-19-1860 intersected 28.6 g/t Au over 2.3 metres. Mineralization consists of local visible gold, 1% pyrite stringers, and up to 5% disseminated pyrite within a bleached and fuchsite altered fragmental felsic intrusion.

 

OSK-W-19-1865 intersected 56.0 g/t Au over 2.2 metres. Mineralization consists of local visible gold, 6% disseminated pyrite, and 1% sphalerite and ptygmatic tourmaline stringers within a strong silica and fuchsite altered porphyritic felsic intrusion.

 

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 65-80% 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 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 Quevillon area (over 3,300 square kilometres).

 

Posted March 21, 2019

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