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Osisko Windfall Infill Drilling

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New Intercepts Include 90.5 g/t Au Over 9.7 Metres in Triple Lynx

 

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

 

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Broken record alert, infill drilling continues to show both the continuity and high-grade nature of Lynx, consistently returning good results on grade and widths as demonstrated by today’s headline hole. We are advancing our work on the deposit at full speed, with over 35 drills active on surface and underground.”

 

The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 46 intercepts in 17 drill holes and 14 wedges.

 

Selected high-grade intercepts from the new results include: 90.5 g/t Au over 9.7 meters in OSK-W-20-2252-W7; 59.5 g/t Au over 2.0 metres in OSK-W-20-2292-W5; 38.4 g/t Au over 5.5 meters in OSK-W-20-2252-W8; 37.1 g/t Au over 2.0 metres in WST-20-0542A; 32.2 g/t Au over 3.7 metres in OSK-W-20-2243-W6. 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-20-2139-W12 913.0 915.0 2.0 3.96   Lynx_361 Triple Lynx
OSK-W-20-2243-W6 925.2 928.9 3.7 32.2   Triple Lynx Triple Lynx
including 927.2 928.2 1.0 55.2  
OSK-W-20-2252-W7 861.3 866.6 5.3 4.54   Triple Lynx Triple Lynx
including 866.3 866.6 0.3 16.6  
  871.0 876.0 5.0 5.45   Triple Lynx Triple Lynx
  900.0 909.7 9.7 90.5 32.3 Lynx_371 Triple Lynx
including 904.7 905.2 0.5 324 100
and 905.6 906.2 0.6 725 100
  911.2 913.3 2.1 7.79   Lynx_361 Triple Lynx
including 912.1 912.4 0.3 33.7  
  961.9 964.0 2.1 13.7   Lynx_363 Triple Lynx
including 962.8 963.1 0.3 75.9  
  987.0 989.3 2.3 3.76   Lynx_364 Triple Lynx
OSK-W-20-2252-W8 877.0 879.0 2.0 4.30   Lynx_371 Triple Lynx
  921.8 924.1 2.3 23.7   Lynx_361 Triple Lynx
including 922.8 923.4 0.6 62.1  
  967.0 972.5 5.5 38.4   Lynx_363 Triple Lynx
including 969.6 970.6 1.0 91.7  
and 970.6 971.6 1.0 69.5  
OSK-W-20-2271-W2 1038.0 1040.0 2.0 3.79   Lynx_330 Lynx
OSK-W-20-2275 756.0 758.0 2.0 4.76   Triple Lynx Triple Lynx
OSK-W-20-2275-W3 864.7 867.2 2.5 3.68   Triple Lynx Triple Lynx
OSK-W-20-2275-W4 933.9 936.2 2.3 3.62   Triple Lynx Triple Lynx
OSK-W-20-2280-W3 1039.0 1041.0 2.0 4.33   Lynx_363 Triple Lynx
including 1039.6 1039.9 0.3 26.3  
  1045.0 1047.0 2.0 4.58   Lynx_363 Triple Lynx
including 1046.2 1046.5 0.3 28.8  
OSK-W-20-2280-W4 1124.0 1129.0 5.0 7.04   Lynx_370 Triple Lynx
including 1125.3 1125.8 0.5 30.0  
OSK-W-20-2280-W5 888.7 890.7 2.0 19.2   Triple Lynx Triple Lynx
including 890.1 890.7 0.6 62.3  
OSK-W-20-2283-W1 826.0 828.0 2.0 3.91   Triple Lynx Triple Lynx
OSK-W-20-2283-W6 844.8 847.0 2.2 3.62   Triple Lynx Triple Lynx
including 844.8 845.3 0.5 13.0  
OSK-W-20-2292-W5 1039.0 1041.0 2.0 59.5 20.3 Triple Lynx Triple Lynx
including 1039.4 1039.8 0.4 296 100
OSK-W-20-2292-W6 884.4 886.5 2.1 8.95   Triple Lynx Triple Lynx
OSK-W-20-2345 144.2 150.0 5.8 4.23   Lynx_355 Lynx
OSK-W-20-2350 112.5 115.0 2.5 22.9 20.6 Lynx_335 Lynx
including 113.5 113.9 0.4 115 100
  137.0 139.0 2.0 16.3 15.8 Lynx_355 Lynx
including 137.5 137.8 0.3 103 100
OSK-W-20-2363 686.0 688.0 2.0 3.82   Lynx_365 Triple Lynx
WST-20-0011 295.4 297.6 2.2 3.66   Lynx SW Lynx
including 296.4 297.0 0.6 11.4  
WST-20-0490 114.0 116.1 2.1 28.1 27.7 Lynx_339 Lynx
including 115.4 115.8 0.4 102 100
  294.3 296.4 2.1 5.57   Triple Lynx Triple Lynx
including 295.7 296.1 0.4 21.7  
WST-20-0498 142.0 144.0 2.0 3.38   Lynx Lynx
WST-20-0503 54.0 56.0 2.0 3.76   Lynx_311 Lynx
WST-20-0505A 280.0 282.0 2.0 3.19   Lynx SW Lynx SW
WST-20-0516 168.0 170.0 2.0 23.8   Lynx_359 Lynx
including 168.5 169.3 0.8 43.0  
WST-20-0525 159.7 161.8 2.1 10.8   Lynx_359 Lynx
including 160.3 160.6 0.3 52.7  
WST-20-0536 91.0 93.0 2.0 14.2   Lynx_304 Lynx
including 91.7 92.1 0.4 66.9  
  98.0 100.0 2.0 13.5   Lynx_304 Lynx
including 98.6 98.9 0.3 83.8  
  111.0 113.0 2.0 8.90   Lynx_359 Lynx
including 111.8 112.6 0.8 22.2  
  117.0 119.0 2.0 3.26   Lynx_359 Lynx
WST-20-0537 99.8 101.9 2.1 5.28   Lynx_304 Lynx
WST-20-0542A 46.9 49.1 2.2 30.3   Lynx_303 Lynx
including 46.9 47.6 0.7 94.0  
  64.3 66.3 2.0 37.1   Lynx_323 Lynx
including 65.2 66.3 1.1 63.3  
WST-20-0545 95.7 98.0 2.3 18.1   Lynx_304 Lynx
  124.0 127.1 3.1 10.6   Lynx_359 Lynx
including 126.6 127.1 0.5 46.2  
WST-20-0569 243.0 245.0 2.0 13.7   Lynx SW Lynx SW
including 243.8 244.2 0.4 67.3  
WST-20-0571 413.0 415.0 2.0 6.65   Lynx SW Lynx SW
including 413.0 414.0 1.0 13.3  

 

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

 

Drill hole location

 

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2139-W12 115 -52 1038 452980 5435549 420 3450
OSK-W-20-2243-W6 122 -54 965 453086 5435526 417 3550
OSK-W-20-2252-W7 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2252-W8 129 -54 1239 453241 5435694 415 3750
OSK-W-20-2271-W2 120 -53 1223 453462 5435683 410 3950
OSK-W-20-2275 127 -49 1094 452888 5435583 409 3400
OSK-W-20-2275-W3 127 -49 1050 452888 5435583 409 3400
OSK-W-20-2275-W4 127 -49 1052 452888 5435583 409 3400
OSK-W-20-2280-W3 127 -58 1191 453304 5435639 415 3775
OSK-W-20-2280-W4 127 -58 1215 453304 5435639 415 3775
OSK-W-20-2280-W5 127 -58 1134 453304 5435639 415 3775
OSK-W-20-2283-W1 135 -50 1035 452997 5435607 425 3500
OSK-W-20-2283-W6 135 -50 957 452997 5435607 425 3500
OSK-W-20-2292-W5 125 -54 1134 453035 5435561 420 3525
OSK-W-20-2292-W6 125 -54 1110 453035 5435561 420 3525
OSK-W-20-2345 336 -62 162 452828 5434780 397 2950
OSK-W-20-2350 324 -62 177 452854 5434793 397 2975
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
WST-20-0011 157 -54 451 453105 5435065 231 3325
WST-20-0490 160 -31 430 453256 5435209 97 3525
WST-20-0498 132 -11 169 453228 5435126 136 3475
WST-20-0503 148 6 99 453105 5435065 232 3325
WST-20-0505A 183 -45 331 453227 5435125 134 3475
WST-20-0516 168 -33 195 453418 5435305 69 3725
WST-20-0525 165 -20 187 453418 5435305 69 3725
WST-20-0536 132 -27 135 453316 5435166 124 3575
WST-20-0537 132 -32 139 453316 5435166 124 3575
WST-20-0542A 156 -30 138 453315 5435165 124 3550
WST-20-0545 112 -24 148 453316 5435166 124 3575
WST-20-0569 165 -59 526 453104 5435065 231 3325
WST-20-0571 167 -55 465 453104 5435065 231 3325

 

Lynx Zone

 

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type 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.

 

Triple Lynx

 

Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.

 

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 a four acids digestion -MS61 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 Gold Deposit

 

The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 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 deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 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 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 January 18, 2021

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