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Osisko Windfall Infill and Expansion Drilling Adds High-Grade

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Osisko Windfall Infill and Expansion Drilling Adds High-Grade

 

 

 

 

 

232 g/t Au Over 2.0 Metres

195 g/t Au over 2.3 Metres

 

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.

 

Significant new analytical results presented below include 60 intercepts in 16 drill holes (8 from surface, 8 from underground) and 13 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

 

Osisko Chief Executive Officer John Burzynski commented: “Drilling at Windfall continues to progress well in both infill and expansion holes. Today’s result include four intervals greater than 180 g/t gold over two metres in three different zones in Lynx and Caribou. Also of note is hole WST-21-0706, which extends a Lynx Southwest wireframe 30 metres towards furface. Results continue to add confidence in the continuity of the deposit and our modelling.”

 

Selected high-grade intercepts include: 232 g/t Au over 2.0 metres in OSK-W-21-2522; 195 g/t Au over 2.3 metres in OSK-W-21-2470-W3; 180 g/t Au over 2.3 metres in OSK-W-21-777-W1; 186 g/t Au over 2.2 metres in WST-21-0725; 148 g/t Au over 2.2 metres in OSK-W-21-2478-W3; 16.0 g/t Au over 8.2 metres in WST-21-0734A; 24.2 g/t Au over 5.0 metres in OSK-W-21-2526; 52.3 g/t Au over 2.2 metres in OSK-W-21-2520. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

Infill 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-17-777 821.0 823.4 2.4 3.91   UDD_4116 Underdog
  1075.0 1077.0 2.0 11.1   UDD_4915 Underdog
including 1075.9 1076.2 0.3 67.3  
OSK-W-17-838 674.0 676.0 2.0 8.27   Caribou_2558 Caribou
including 674.9 675.3 0.4 40.7  
OSK-W-20-2280-W8 996.0 998.3 2.3 31.4 30.2 TLX_3163 Triple Lynx
including 997.2 997.7 0.5 106 100
OSK-W-21-1827-W3 796.0 798.0 2.0 6.31   UDD_4121 Underdog
including 796.9 797.3 0.4 27.0  
OSK-W-21-1882-W3 809.7 812.0 2.3 3.63   UDD_4100 Underdog
including 810.7 811.0 0.3 26.8  
OSK-W-21-2067-W8 1029.0 1031.2 2.2 9.66   TLX_3183 Triple Lynx
  1053.0 1055.0 2.0 20.8   TLX_3163 Triple Lynx
  1087.0 1089.0 2.0 12.8   TLX_3162 Triple Lynx
  1103.0 1105.0 2.0 7.17   TLX_3170 Triple Lynx
including 1104.0 1104.3 0.3 37.4  
  1126.0 1128.0 2.0 4.11   TLX_3172 Triple Lynx
OSK-W-21-2275-W6 812.0 814.1 2.1 17.0 15.5 TLX_3184 Triple Lynx
including 813.5 813.8 0.3 111 100
OSK-W-21-2470-W4 967.0 969.0 2.0 15.5   TLX_3163 Triple Lynx
OSK-W-21-2478-W3 862.5 864.7 2.2 148 76.9 TLX_3171 Triple Lynx
including 863.4 864.3 0.9 252 100
  875.1 877.2 2.1 14.4   TLX_3184 Triple Lynx
including 875.1 875.4 0.3 91.2  
OSK-W-21-2479-W3 891.0 893.4 2.4 8.36   UDD_4501 Underdog
including 892.0 892.7 0.7 23.6  
OSK-W-21-2479-W4 662.9 665.0 2.1 9.62   UDD_4102 Underdog
including 664.0 664.6 0.6 24.1  
  678.0 680.0 2.0 19.5   UDD_4102 Underdog
including 679.0 679.6 0.6 46.6  
  755.0 757.0 2.0 6.31   UDD_4107 Underdog
OSK-W-21-2512 759.6 761.7 2.1 20.9   UDD_4106 Underdog
including 759.6 760.5 0.9 47.3  
  781.0 783.0 2.0 22.2   UDD_4106 Underdog
including 781.8 782.4 0.6 72.1  
  862.0 864.3 2.3 6.75   UDD_4905 Underdog
including 864.0 864.3 0.3 23.8  
OSK-W-21-2512-W1 667.0 671.7 4.7 12.1   UDD_4116 Underdog
including 668.2 668.5 0.3 64.3  
  673.0 675.0 2.0 4.19   UDD_4116 Underdog
including 674.6 675.0 0.4 18.0  
  697.0 699.0 2.0 3.85   UDD_4100 Underdog
OSK-W-21-2520 535.8 538.0 2.2 52.3 24.8 Caribou_2232 Caribou
including 537.5 538.0 0.5 221 100
  541.0 543.0 2.0 5.92   Caribou_2232 Caribou
including 542.5 543.0 0.5 19.0  
  611.0 613.0 2.0 12.9   Caribou_2233 Caribou
including 611.6 612.2 0.6 39.3  
  653.0 655.0 2.0 25.0   Caribou_2206 Caribou
including 654.0 655.0 1.0 49.9  
OSK-W-21-2522 654.0 656.0 2.0 3.88   LXM_3304 Lynx
  746.3 748.3 2.0 232 37.2 LXM_3345 Lynx
including 747.6 748.0 0.4 1075 100
OSK-W-21-2523 992.0 994.0 2.0 11.7   UDD_4501 Underdog
including 993.0 994.0 1.0 23.3  
OSK-W-21-2526 248.3 253.3 5.0 24.2   F51_6008 F-51
including 248.3 249.2 0.9 63.5  
OSK-W-21-2534 538.3 540.4 2.1 17.5   Caribou_2211 Caribou
including 538.3 538.7 0.4 53.0  
  543.0 545.4 2.4 25.9 21.6 Caribou_2211 Caribou
including 543.0 543.5 0.5 121 100
WST-21-0682B 116.0 118.0 2.0 6.21   LXM_3311 Lynx
WST-21-0725 238.6 240.8 2.2 186 56.9 TLX_3161 Triple Lynx
including 239.0 239.8 0.8 400 100
  292.0 294.2 2.2 8.13   TLX_3163 Triple Lynx
including 293.6 294.2 0.6 26.8  
WST-21-0727A 328.0 330.1 2.1 18.6 17.5 TLX_3163 Triple Lynx
including 328.4 328.7 0.3 108 100
WST-21-0775 429.5 431.5 2.0 4.21   TLX_3165 Triple Lynx
WST-21-0790 283.0 285.1 2.1 12.9   LXSW_3500 Lynx SW
including 283.4 283.7 0.3 87.9  
WST-21-0824 304.9 307.5 2.6 11.4   TLX_3185 Triple Lynx
  314.4 318.0 3.6 4.79   TLX_3163 Triple Lynx

 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. UDD = Underdog, LXM = Lynx Main, TLX = Triple Lynx, and LXSW = Lynx Southwest.

 

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-21-777-W1 377.6 381.6 4.0 8.48   Caribou Caribou
including 377.6 377.9 0.3 46.2  
  442.4 444.7 2.3 180 33.5 Caribou Caribou
including 444.3 444.7 0.4 942 100
OSK-W-21-2067-W8 1080.0 1082.0 2.0 4.39   Triple Lynx Triple Lynx
OSK-W-21-2470-W3 1151.0 1153.3 2.3 195 15.9 Triple Lynx Triple Lynx
including 1152.4 1152.7 0.3 1470 100
OSK-W-21-2478-W3 1055.0 1057.0 2.0 16.4   Triple Lynx Triple Lynx
including 1056.5 1057.0 0.5 64.1  
OSK-W-21-2479-W3 624.7 627.0 2.3 11.6   UDD_4100 Underdog
including 625.1 625.5 0.4 61.4  
OSK-W-21-2487-W5 691.5 693.5 2.0 14.8   Lynx 4 Lynx
OSK-W-21-2522 944.3 946.7 2.4 3.90   Lynx 4 Lynx
including 946.2 946.7 0.5 11.1  
OSK-W-21-2523 958.0 960.0 2.0 3.80   Underdog Underdog
  1057.0 1059.0 2.0 7.28   Underdog Underdog
  1069.0 1071.0 2.0 6.76   Underdog Underdog
including 1069.8 1070.5 0.7 19.2  
WST-21-0706 215.0 217.5 2.5 7.45   Lynx SW Lynx SW
including 215.9 216.5 0.6 24.6  
WST-21-0725 313.5 315.5 2.0 24.1   Triple Lynx Triple Lynx
including 313.5 314.5 1.0 47.8  
  326.0 328.0 2.0 11.6   Triple Lynx Triple Lynx
including 327.0 328.0 1.0 22.8  
WST-21-0734A 259.1 267.3 8.2 16.0 12.3 Lynx SW Lynx SW
including 266.0 266.5 0.5 161 100
WST-21-0775 211.0 213.0 2.0 14.1   Triple Lynx Triple Lynx
WST-21-0790 327.0 329.3 2.3 7.41   Lynx SW Lynx SW
including 327.9 328.2 0.3 54.3  

 

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

 

Drill hole location

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-17-777 330 -59 1221 452678 5434500 403 2675
OSK-W-17-838 329 -65 726 453144 5434900 398 3275
OSK-W-20-2280-W8 127 -58 1134 453304 5435639 415 3775
OSK-W-21-777-W1 330 -59 969 452678 5434500 403 2675
OSK-W-21-1827-W3 331 -58 996 452506 5434390 403 2475
OSK-W-21-1882-W3 328 -58 1004 452469 5434406 400 2450
OSK-W-21-2067-W8 123 -53 866 453241 5435696 415 3750
OSK-W-21-2275-W6 127 -49 864 452888 5435583 409 3400
OSK-W-21-2470-W3 132 -59 1209 453304 5435639 415 3775
OSK-W-21-2470-W4 132 -59 1155 453304 5435639 415 3775
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2479-W3 344 -55 1014 452315 5434419 399 2325
OSK-W-21-2479-W4 344 -55 402 452315 5434419 399 2325
OSK-W-21-2487-W5 359 -73 771 454135 5435058 397 4225
OSK-W-21-2512 331 -54 855 452448 5434465 400 2475
OSK-W-21-2512-W1 331 -54 1089 452448 5434465 400 2475
OSK-W-21-2520 337 -56 351 452596 5434392 401 2550
OSK-W-21-2522 128 -54 450 453451 5435594 411 3900
OSK-W-21-2523 340 -58 1105 452480 5434428 402 2475
OSK-W-21-2526 159 -44 287 453519 5436029 406 4150
OSK-W-21-2534 343 -59 1203 452549 5434363 401 2500
WST-21-0682B 129 -64 472 453106 5435066 231 3325
WST-21-0706 165 -54 417 453104 5435065 231 3325
WST-21-0725 160 -67 391 453507 5435327 -7 3800
WST-21-0727A 146 -69 361 453507 5435327 -7 3800
WST-21-0734A 129 -56 360 452956 5435003 253 3175
WST-21-0775 153 -44 469 453256 5435210 95 3525
WST-21-0790 171 -65 406 453104 5435065 231 3325
WST-21-0824 156 -70 343 453506 5435327 -7 3800

 

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

 

F-Zones

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or as replacement type in shear zones and is characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

 

Underdog

Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated, stringer, semi-massive to massive pyrite with minor sphalerite, chalcopyrite and molybdenite associated with strong sericite and silica alteration. Mineralization is hosted along the intrusive contacts of a three-phase composite felsic porphyritic unit which cross-cuts felsic and mafic volcanic sequences.

 

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), Director of Exploration for Osisko’s Windfall 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 3.5 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 Estimate defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate 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 June 29, 2021

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