OSISKO INFILL DRILLING RETURNS HIGH GRADE AT WINDFALL

73.3 g/t Au over 4.4 metres in Underdog

67.3 g/t Au Over 2.3 Metres in Caribou

(Toronto, March 30, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) 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 52 intercepts in 15 drill holes (12 from surface, 3 from underground) and 7 wedges. The intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021).

Selected high-grade intercepts include: 73.3 g/t Au over 4.4 metres in OSK-W-20-2407-W1; 36.7 g/t Au over 5.9 metres in OSK-W-20-2423; 67.3 g/t Au over 2.3 metres in OSK-W-21-2460-W1; 21.3 g/t Au over 5.2 metres in OSK-W-20-2415-W1 and 50.2 g/t Au over 2.1 metres in OSK-W-20-2414. 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-20-2359 631.7 633.7 2.0 21.1   Caribou_2214 Caribou
  636.1 644.0 7.9 10.2   Caribou_2214 Caribou
including 642.0 643.0 1.0 30.6
OSK-W-20-2387 639.0 641.0 2.0 6.72   Caribou_2214 Caribou
  647.0 649.4 2.4 4.55   Caribou_2214 Caribou
OSK-W-20-2387-W1 652.4 654.7 2.3 16.7   Caribou_2233 Caribou
including 653.0 653.6 0.6 55.9
OSK-W-20-2399 663.0 665.0 2.0 9.93   Caribou_2212 Caribou
including 663.7 664.6 0.9 20.6
OSK-W-20-2399-W2 690.0 692.0 2.0 44.9 15.4 Caribou_2212 Caribou
including 691.7 692.0 0.3 297 100
OSK-W-20-2405-W2 631.4 633.4 2.0 7.61   Caribou_2214 Caribou
including 631.9 632.4 0.5 24.9
OSK-W-20-2407-W1 649.0 651.1 2.1 28.2   Underdog_4101 Underdog
including 649.0 649.8 0.8 44.1
  702.6 707.0 4.4 73.3 Underdog_4102 Underdog
  748.0 750.0 2.0 18.0   Underdog_4106 Underdog
including 748.3 749.3 1.0 35.1
  812.0 814.3 2.3 13.6   Underdog_4906 Underdog
including 812.0 812.8 0.8 38.0
OSK-W-20-2414 827.6 829.7 2.1 50.2 33.3 Caribou_2252 Caribou
including 829.2 829.7 0.5 171 100
  858.0 860.1 2.1 30.6 24.8 Caribou_2219 Caribou
including 858.7 859.2 0.5 125 100
OSK-W-20-2415-W1 703.0 708.0 5.0 4.45   Caribou_2220 Caribou
  714.0 716.0 2.0 9.34   Caribou_2218 Caribou
  722.2 727.4 5.2 21.3   Caribou_2218 Caribou
including 722.2 722.6 0.4 79.8
  729.7 731.8 2.1 5.17   Caribou_2218 Caribou
including 729.7 730.0 0.3 29.7
OSK-W-20-2423 276.0 279.0 3.0 18.3   Caribou_2106 Caribou
including 277.0 277.5 0.5 48.3
  595.0 597.0 2.0 3.58   Caribou_2241 Caribou
  817.7 820.0 2.3 8.64   Underdog_4121 Underdog
including 817.7 818.3 0.6 17.8
  843.0 845.0 2.0 4.92   Underdog_4116 Underdog
including 843.5 844.0 0.5 18.8
  943.0 948.9 5.9 36.7 28.4 Underdog_4102 Underdog
including 948.2 948.9 0.7 171 100
  1019.0 1021.0 2.0 7.97   Underdog_4511 Underdog
  1048.0 1050.0 2.0 26.5   Underdog_4501 Underdog
including 1049.2 1050.0 0.8 66.2
  1187.8 1193.0 5.2 13.1   Underdog_4514 Underdog
  1200.3 1203.0 2.7 8.75   Underdog_4512 Underdog
OSK-W-20-2425 556.6 558.7 2.1 18.2   Caribou_2215 Caribou
including 557.1 557.4 0.3 86.2
  561.0 563.0 2.0 5.85   Caribou_2215 Caribou
OSK-W-20-2439 196.8 199.0 2.2 5.54   F11_6001 F-11
OSK-W-21-2442 747.0 749.0 2.0 3.61   Underdog_4107 Underdog
  754.0 756.0 2.0 6.78   Underdog_4107 Underdog
OSK-W-21-2460 652.0 654.0 2.0 16.1   Caribou_2220 Caribou
including 653.1 654.0 0.9 35.5
  708.6 711.4 2.8 4.06   Caribou_2219 Caribou
OSK-W-21-2460-W1 530.1 533.0 2.9 8.66   Caribou_2236 Caribou
including 530.1 531.0 0.9 19.6
  559.0 563.2 4.2 3.14   Caribou_2210 Caribou
  667.0 669.3 2.3 67.3 42.8 Caribou_2220 Caribou
including 668.5 669.0 0.5 209 100
  709.0 711.4 2.4 5.11   Caribou_2218 Caribou
including 710.5 711.4 0.9 13.1
OSK-W-21-2462 586.0 592.7 6.7 3.58   Caribou_2523 Caribou
  710.6 712.9 2.3 3.09   Caribou_2212 Caribou
  840.5 845.0 4.5 8.34   Caribou_2549 Caribou
including 844.0 844.4 0.4 17.9
OSK-W-21-2462-W1 480.9 483.0 2.1 20.4   Caribou_2536 Caribou
including 480.9 481.9 1.0 42.3
  594.8 597.0 2.2 4.77   Caribou_2523 Caribou
including 595.6 596.2 0.6 13.7
OSK-W-21-2463 582.1 586.0 3.9 6.72   Caribou_2241 Caribou
OSK-W-21-2476 506.4 508.6 2.2 6.94   Caribou_2536 Caribou
including 508.2 508.6 0.4 28.4
  671.6 674.0 2.4 11.0   Caribou_2212 Caribou
including 671.6 672.4 0.8 24.8
WST-20-0595 82.7 84.8 2.1 10.3   Bobcat_2350 Bobcat
including 83.1 83.7 0.6 28.2
WST-20-0604 332.2 334.5 2.3 3.91   Caribou_2253 Caribou
including 332.5 333.3 0.8 11.0
  336.3 338.5 2.2 6.00   Caribou_2253 Caribou
including 336.3 336.6 0.3 36.8
WST-21-0598 53.0 55.3 2.3 3.18   Bobcat Bobcat
  104.6 106.6 2.0 4.34   Bobcat_2335 Bobcat
  120.0 122.0 2.0 3.57   Bobcat Bobcat
including 120.7 121.0 0.3 20.6

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2359 335 -61 726 452694 5434440 401 2675
OSK-W-20-2387 336 -59 717 452694 5434440 401 2675
OSK-W-20-2387-W1 336 -59 738 452694 5434440 401 2675
OSK-W-20-2399 333 -54 864 452874 5434552 398 2875
OSK-W-20-2399-W2 333 -54 876 452874 5434552 398 2875
OSK-W-20-2405-W2 332 -58 710 452694 5434440 401 2675
OSK-W-20-2407-W1 347 -55 1044 452315 5434419 399 2325
OSK-W-20-2414 337 -54 882 452880 5434419 402 2825
OSK-W-20-2415-W1 328 -54 762 452738 5434474 401 2725
OSK-W-20-2423 332 -60 1326 452616 5434449 403 2600
OSK-W-20-2425 336 -60 747 452715 5434606 397 2775
OSK-W-20-2439 147 -50 360 452515 5436029 406 3275
OSK-W-21-2442 347 -53 1053 452315 5434419 399 2325
OSK-W-21-2460 332 -55 789 452732 5434537 399 2750
OSK-W-21-2460-W1 332 -55 795 452732 5434537 399 2750
OSK-W-21-2462 338 -57 888 452874 5434552 398 2875
OSK-W-21-2462-W1 338 -57 855 452874 5434552 398 2875
OSK-W-21-2463 339 -65 1335 452616 5434449 403 2600
OSK-W-21-2476 337 -58 807 452840 5434569 398 2850
WST-20-0595 111 -23 150 452818 5434944 274 3025
WST-20-0604 153 -58 373 452281 5434975 262 2575
WST-21-0598 135 5 144 452817 5434944 275 3025

 

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-Zone

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.

 

Bobcat

Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

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.

 

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 (“NI 43-101”).

 

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. 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 defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (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).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO WINDFALL EXPLORATION RAMP REACHES 500 METRES VERTICAL DEPTH

Impressive Visible Gold Mineralization Encountered in Lynx Level 230

(Toronto, March 25, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide an update on the progress of the underground exploration ramp at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

The exploration ramp at Windfall has achieved 500 metres vertical depth from surface.  A total of 7,300 metres of advance including 16 Lynx Zone sub-level accesses spaced 20 metres vertically have been excavated by Osisko to date.  An additional 1,200 metres of ramp was developed by previous operators.

The exploration ramp is 5.2 metres wide x 5.5 metres high with a 15% decline angle and has allowed the Corporation to collect two bulk samples of approximately 5,000 tonnes each (please see Osisko news releases dated June 11, 2019 and December 11, 2019).  To date, 42 underground drill stations have been created and used to aid in resource delineation.  Infrastructure installed along the advance includes 13.8 kV electric cables, fiber optic cables, four refuge stations, nine electrical substations, and three dewatering substations. Ramp development is being conducted by Miyuukaa Corporation (“Miyuukaa”)/CMAC-Thyssen Mining Group. Miyuukaa CEO and President, John Kitchen commented: “The Windfall project is an excellent opportunity for community members from the Cree First Nation of Waswanipi and the other Cree communities of Eeyou Istchee to participate in learning valuable skills in the mining sector. In addition to underground exploration ramp advancement and drilling, our joint ventures in civil works and camp operations are key to providing over 100 First Nation workers at the Windfall site.”

In addition, a 240 metre ventilation raise from surface is scheduled to be completed by Technica Mining in early April 2021.  This six metre diameter raise includes a manway and provides additional ventilation to the Lynx Zone.

Work is advancing towards the Triple Lynx Zone for the collection of the third and final planned bulk sample at Windfall, with the expectation of reaching this mineralized zone at 600 metres vertical depth by December 2021.  Osisko also recently received permission from the Quebec Ministry of Energy and Natural Resources to conduct a test stope in Lynx, which will further help in grade determinations and provide valuable information for the feasibility study.  Impressive visible gold mineralization was recently encountered from the location of the Lynx test stope (wireframe 3304 on the 230 level) (please see photos at https://www.facebook.com/MiningOsisko/).

Advanced exploration and infill drilling is being conducted from the exploration ramp, with nine underground diamond drills currently using multiple drilling bays to complete the Windfall drill program.

Osisko Chief Executive Officer John Burzynski commented: “The underground exploration ramp at Windfall has advanced in step with the drill program over the past three years, to the point where we now have excellent access to the Lynx gold zones.  This has helped tremendously in confirming our confidence in our geological modelling and resource wireframe work.  Spectacular visual gold mineralization is being seen in the underground mineralized zones that reflects and confirms the high-grade intercepts reported in our ongoing infill drill program.  Most importantly we have done this safely, having gone 1,113 days without a lost time incident underground.”

 

 

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 defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (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).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO INFILL DRILLING RETURNS HIGH GRADE AT LYNX

696 g/t Au Over 2.5 Metres in Triple Lynx

507 g/t Au Over 2.1 Metres in Lynx Main

(Toronto, March 23, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) 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 99 intercepts in 50 drill holes (8 from surface, 22 from underground) and 20 wedges. The intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021).

Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Today’s infill results in Lynx and Triple Lynx continue to deliver outstanding numbers as demonstrated with our two headline holes, each of which has a subinterval over 1 kilogram of gold per tonne. The infill program continues to confirm the superb high-grade areas found within the Lynx zones.”

Selected high-grade intercepts include: 696 g/t Au over 2.5 metres in WST-20-0613; 507 g/t Au over 2.1 metres in WST-20-0632; 133 g/t Au over 3.7 metres in WST-21-0622; 70.0 g/t Au over 6.0 metres in OSK-W-20-2375-W2; 148 g/t Au over 2.0 metres in OSK-W-20-2283-W5; 71.2 g/t Au over 4.1 metres in OSK-W-21-2369-W2; 120 g/t Au over 2.3 metres in WST-21-0648B, and 56.4 g/t Au over 4.0 metres in WST-21-0656. Maps showing hole locations and full analytical results are available at www.osiskomining.com

 

Infill Drilling

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2252-W11 926.4 929.2 2.8 5.83   TLX_3163 Triple Lynx
OSK-W-20-2256-W8 932.0 944.4 12.4 8.56   TLX_3183 Triple Lynx
including 935.8 937.0 1.2 22.2
  947.7 954.0 6.3 5.56   TLX_3163 Triple Lynx
including 948.4 949.4 1.0 12.0
and 953.4 954.0 0.6 13.1
OSK-W-20-2271-W4 757.7 759.7 2.0 5.90   LXM_3304 Lynx
including 759.2 759.7 0.5 23.5
OSK-W-20-2280-W6 994.1 997.5 3.4 15.7   TLX_3183 Triple Lynx
including 994.1 994.9 0.8 41.5
  1021.9 1024.4 2.5 5.30   TLX_3164 Triple Lynx
including 1022.7 1023.3 0.6 12.3
  1085.6 1087.8 2.2 42.3 35.0 TLX_3170 Triple Lynx
including 1085.6 1086.2 0.3 154 100
OSK-W-20-2280-W7 999.0 1001.0 2.0 78.4 39.1 TLX_3163 Triple Lynx
including 999.0 999.6 0.6 231 100
OSK-W-20-2280-W9 1045.0 1047.0 2.0 9.03   TLX_3163 Triple Lynx
  1100.0 1102.0 2.0 16.3   TLX_3170 Triple Lynx
including 1100.7 1101.0 0.3 66.7
OSK-W-20-2280-W10 982.0 986.3 4.3 9.60   TLX_3180 Triple Lynx
including 983.3 983.6 0.3 67.4
and 986.0 986.3 0.3 39.4
  1010.0 1012.0 2.0 8.40   Triple Lynx Triple Lynx
including 1011.3 1012.0 0.7 22.4
  1014.0 1016.0 2.0 5.34   Triple Lynx Triple Lynx
  1023.4 1026.8 3.4 7.49   TLX_3183 Triple Lynx
including 1023.4 1024.0 0.6 19.6
  1046.4 1048.4 2.0 3.59   TLX_3163 Triple Lynx
including 1047.6 1048.4 0.8 8.18
  1069.4 1071.4 2.0 5.56   TLX_3164 Triple Lynx
  1101.0 1105.0 4.0 10.3   TLX_3170 Triple Lynx
including 1104.0 1105.0 1.0 33.3
OSK-W-20-2283-W3 811.0 813.3 2.3 9.66   TLX_3184 Triple Lynx
including 811.7 812.0 0.3 67.4
OSK-W-20-2283-W5 990.0 992.0 2.0 148 35.8 TLX_3194 Triple Lynx
including 990.0 990.7 0.7 421 100
OSK-W-20-2283-W6 969.0 971.0 2.0 6.38   TLX_3193 Triple Lynx
including 970.2 970.6 0.4 31.1
OSK-W-20-2283-W8 810.4 816.0 5.6 7.64   TLX_3171 Triple Lynx
including 810.4 811.0 0.6 25.8
and 814.4 814.7 0.3 25.5
  833.0 835.0 2.0 4.18   TLX_3184 Triple Lynx
  864.8 867.0 2.2 30.4   TLX_3161 Triple Lynx
including 865.4 866.0 0.6 96.8
  889.9 892.0 2.1 3.84   TLX_3169 Triple Lynx
including 890.2 890.5 0.3 23.2
  895.0 897.0 2.0 6.94   TLX_3175 Triple Lynx
including 895.0 895.5 0.5 25.5
  1122.9 1125.5 2.6 3.55   TLX_3176 Triple Lynx
including 1122.9 1123.2 0.3 15.8
OSK-W-20-2313-W8 839.0 841.0 2.0 3.69   TLX_3184 Triple Lynx
including 839.5 839.8 0.3 17.3
OSK-W-20-2313-W9 815.0 817.1 2.1 3.27   TLX_3171 Triple Lynx
  844.0 846.4 2.4 32.5 19.5 TLX_3184 Triple Lynx
including 846.1 846.4 0.3 204 100
  948.0 950.5 2.5 3.77   TLX_3194 Triple Lynx
  1006.5 1008.6 2.1 7.12   TLX_3195 Triple Lynx
including 1007.2 1007.6 0.4 23.4
OSK-W-20-2322-W3 1160.0 1162.0 2.0 16.4   LX4_3430 Lynx 4
including 1160.4 1161.1 0.7 35.5
OSK-W-20-2346 958.4 960.5 2.1 7.26   Lynx 4 Lynx
including 958.9 959.4 0.5 29.2
  1013.2 1015.5 2.3 8.49   LX4_3429 Lynx 4
including 1014.0 1014.7 0.7 27.5
OSK-W-20-2363 794.3 796.3 2.0 8.59   Triple Lynx Triple Lynx
including 795.1 795.6 0.5 34.2
  946.5 948.9 2.4 22.3   TLX_3195 Triple Lynx
OSK-W-20-2369-W1 654.0 657.0 3.0 31.1   LXM_3304 Lynx
including 655.0 655.9 0.9 52.1
  993.1 995.2 2.1 8.73   LX4_3430 Lynx 4
  1012.5 1015.0 2.5 22.3   Lynx 4 Lynx
including 1012.5 1013.0 0.5 97.9
OSK-W-20-2375 931.8 934.1 2.3 4.03   LX4_3437 Lynx 4
including 931.8 932.2 0.4 18.9
OSK-W-20-2375-W2 909.0 911.0 2.0 3.58   LX4_3414 Lynx 4
  926.8 932.8 6.0 70.0 14.4 LX4_3437 Lynx 4
including 926.8 927.4 0.6 656 100
OSK-W-20-2375-W4 904.0 906.3 2.3 3.53   Lynx 4 Lynx
including 905.6 905.9 0.3 19.7
  910.0 912.0 2.0 20.0   Lynx 4 Lynx
including 911.5 912.0 0.5 76.5
OSK-W-20-2381 1182.5 1185.0 2.5 12.5   LX4_3449 Lynx 4
including 1184.2 1185.0 0.8 32.0
OSK-W-20-2384 1125.8 1127.9 2.1 15.7   LX4_3451 Lynx 4
including 1127.5 1127.9 0.4 81.1
OSK-W-20-2385 785.0 787.0 2.0 45.5 26.0 LX4_3426 Lynx 4
including 786.0 786.5 0.5 178 100
OSK-W-20-2385-W1 819.3 821.4 2.1 39.2 19.6 LX4_3414 Lynx 4
including 819.6 820.0 0.4 203 100
OSK-W-20-2385-W2 799.0 801.5 2.5 39.4 25.1 LX4_3424 Lynx 4
including 799.5 799.9 0.4 190 100
OSK-W-20-2416 866.7 868.9 2.2 11.1   Triple Lynx Triple Lynx
  911.0 913.0 2.0 3.66   TLX_3161 Triple Lynx
  923.0 925.1 2.1 9.86   TLX_3161 Triple Lynx
including 923.3 923.8 0.5 38.9
  960.0 962.0 2.0 6.21   TLX_3163 Triple Lynx
  1001.2 1004.0 2.8 6.38   TLX_3162 Triple Lynx
including 1002.0 1003.0 1.0 15.9
  1076.4 1079.0 2.6 4.90   Triple Lynx Triple Lynx
including 1077.2 1077.5 0.3 19.5
OSK-W-20-2431 587.9 590.0 2.1 76.3 51.7 TLX_3171 Triple Lynx
including 588.2 588.6 0.4 229 100
OSK-W-21-2369-W2 675.0 679.1 4.1 71.2 40.8 LXM_3304 Lynx
including 675.7 677.0 1.3 196 100
WST-20-0522 297.0 300.0 3.0 4.42   LXSW_3556 Lynx
  305.4 307.5 2.1 24.4 19.9 LXSW_3556 Lynx
including 306.0 306.3 0.3 132 100
  312.7 315.0 2.3 3.70   LXSW_3556 Lynx
including 312.7 313.3 0.6 9.20
WST-20-0543 52.0 54.0 2.0 10.3   LXM_3303 Lynx
including 52.0 52.3 0.3 52.4
  58.0 60.4 2.4 6.48   LXM_3303 Lynx
including 58.0 58.7 0.7 20.4
WST-20-0554 295.2 297.2 2.0 7.69   TLX_3131 Triple Lynx
  353.9 356.0 2.1 12.2   TLX_3166 Triple Lynx
including 354.4 354.9 0.5 41.2
  490.8 495.1 4.3 19.4   LX4_3450 Lynx 4
including 490.8 492.0 1.2 49.0
WST-20-0574 342.0 344.0 2.0 30.2   LXSW_3556 Lynx
including 343.0 343.7 0.7 85.4
  365.0 367.3 2.3 3.15   LXSW_3556 Lynx
including 366.5 366.9 0.4 14.7
WST-20-0591 144.0 146.2 2.2 23.7   LXM_3338 Lynx
including 145.5 146.2 0.7 43.2
  167.1 169.3 2.2 4.98   LXM_3304 Lynx
WST-20-0592 137.5 139.5 2.0 4.67   LXM_3338 Lynx
including 137.5 138.0 0.5 17.2
WST-20-0603 297.0 299.0 2.0 4.71   TLX_3166 Triple Lynx
including 298.1 298.5 0.4 22.8
  476.0 478.0 2.0 7.78   Lynx SW Lynx SW
including 476.8 477.6 0.8 19.1
WST-20-0608 704.0 706.1 2.1 6.11   LX4_3438 Lynx 4
including 704.0 704.9 0.9 13.7
WST-20-0612 247.1 252.6 5.5 6.36   TLX_3161 Triple Lynx
including 250.8 251.1 0.3 20.2
  295.5 297.6 2.1 9.18   TLX_3163 Triple Lynx
  311.0 313.2 2.2 19.1   TLX_3164 Triple Lynx
including 311.6 312.2 0.6 66.5
WST-20-0613 237.8 240.3 2.5 696 43.4 TLX_3161 Triple Lynx
including 238.4 239.0 0.6 2820 100
  284.0 286.0 2.0 4.18   TLX_3163 Triple Lynx
  345.0 347.1 2.1 3.56   TLX_3182 Triple Lynx
  357.8 360.5 2.7 3.94   TLX_3182 Triple Lynx
  399.0 401.3 2.3 49.1 44.4 TLX_3188 Triple Lynx
including 400.0 400.5 0.5 122 100
WST-20-0615 278.8 280.8 2.0 26.2 15.9 TLX_3166 Triple Lynx
including 279.5 279.8 0.3 169 100
WST-20-0618 221.5 223.6 2.1 73.5 49.5 TLX_3161 Triple Lynx
including 221.9 222.9 1.0 151 100
WST-20-0624 118.0 120.0 2.0 9.10   LXM_3303 Lynx
including 118.0 118.8 0.8 21.9
WST-20-0629 102.0 104.0 2.0 7.39   LXM_3334 Lynx
including 102.5 103.1 0.6 24.5
WST-20-0630 96.0 98.0 2.0 3.85   LXM_3334 Lynx
including 96.0 96.5 0.5 14.2
  129.6 134.2 4.6 5.18   LXM_3304 Lynx
including 129.6 130.0 0.4 26.7
WST-20-0631 128.0 130.0 2.0 25.8   LXM_3304 Lynx
including 128.0 128.7 0.7 73.5
  144.5 146.5 2.0 4.51   LXM_3359 Lynx
including 144.5 145.1 0.6 14.6
WST-20-0632 123.8 125.9 2.1 507 36.0 LXM_3334 Lynx
including 124.9 125.5 0.6 1750 100
WST-20-0633 152.8 155.1 2.3 12.2   Lynx Lynx
including 152.8 153.3 0.5 26.1
WST-21-0614 233.1 236.8 3.7 39.5 29.6 TLX_3161 Triple Lynx
including 235.4 235.9 0.5 173 100
  277.9 280.2 2.3 13.7   TLX_3163 Triple Lynx
including 278.8 279.2 0.4 65.6
WST-21-0622 232.7 236.4 3.7 133 74.3 TLX_3161 Triple Lynx
WST-21-0648B 313.5 315.8 2.3 120 43.7 TLX_3166 Triple Lynx
including 314.8 315.8 1.0 276 100
WST-21-0656 233.0 237.0 4.0 56.4 32.2 TLX_3161 Triple Lynx
including 234.5 235.1 0.6 261 100
  274.0 276.0 2.0 5.97   TLX_3164 Triple Lynx
  279.0 281.0 2.0 14.5   TLX_3164 Triple Lynx
including 279.6 280.2 0.6 46.4
  284.0 286.2 2.2 3.16   TLX_3164 Triple Lynx

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx and LXSW = Lynx Southwest.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2252-W11 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2256-W8 125 -51 1056 453160 5435686 411 3675
OSK-W-20-2271-W4 120 -53 1134 453462 5435682 410 3950
OSK-W-20-2280-W6 127 -58 1152 453304 5435639 415 3775
OSK-W-20-2280-W7 127 -58 1131 453304 5435639 415 3775
OSK-W-20-2280-W9 127 -58 1176 453304 5435639 415 3775
OSK-W-20-2280-W10 127 -58 1182 453304 5435639 415 3775
OSK-W-20-2283-W3 135 -50 1004 452997 5435607 425 3500
OSK-W-20-2283-W5 135 -50 1043 452997 5435607 425 3500
OSK-W-20-2283-W6 135 -50 1013 452997 5435607 425 3500
OSK-W-20-2283-W8 135 -50 1236 452997 5435607 425 3500
OSK-W-20-2313-W8 134 -52 1152 452965 5435583 420 3450
OSK-W-20-2313-W9 134 -52 1218 452965 5435583 420 3450
OSK-W-20-2322-W3 130 -54 1274 453608 5435715 403 4075
OSK-W-20-2346 130 -53 1161 453397 5435557 413 3825
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2369-W1 130 -56 1193 453424 5435566 410 3850
OSK-W-20-2375 122 -56 1160 453810 5435779 400 4300
OSK-W-20-2375-W2 122 -56 987 453810 5435779 400 4300
OSK-W-20-2375-W4 122 -56 1008 453810 5435779 400 4300
OSK-W-20-2381 134 -53 1230 453620 5435791 402 4125
OSK-W-20-2384 127 -52 1248 453397 5435557 413 3825
OSK-W-20-2385 125 -54 873 453687 5435679 401 4150
OSK-W-20-2385-W1 125 -54 937 453687 5435679 401 4150
OSK-W-20-2385-W2 125 -54 918 453687 5435679 401 4150
OSK-W-20-2416 123 -54 1128 453169 5435624 412 3650
OSK-W-20-2431 136 -57 849 453008 5435388 412 3400
OSK-W-21-2369-W2 130 -56 788 453424 5435566 410 3850
WST-20-0522 177 -52 457 453104 5435064 231 3325
WST-20-0543 150 -41 144 453315 5435165 124 3575
WST-20-0554 148 -44 562 453257 5435209 96 3525
WST-20-0574 139 -63 523 452955 5435003 253 3175
WST-20-0591 136 -35 220 453257 5435209 96 3525
WST-20-0592 137 -26 205 453257 5435209 96 3525
WST-20-0603 161 -59 525 453227 5435125 134 3475
WST-20-0608 152 -44 760 453418 5435305 69 3725
WST-20-0612 128 -62 432 453357 5435273 16 3650
WST-20-0613 123 -55 442 453358 5435273 16 3650
WST-20-0615 177 -58 519 453227 5435125 134 3475
WST-20-0618 181 -63 264 453506 5435327 -7 3800
WST-20-0624 165 -12 148 453256 5435209 96 3525
WST-20-0629 146 -21 175 453321 5435235 55 3600
WST-20-0630 142 -13 166 453321 5435235 55 3600
WST-20-0631 136 -3 166 453322 5435235 55 3600
WST-20-0632 160 -41 172 453321 5435235 55 3600
WST-20-0633 161 -32 171 453321 5435235 55 3600
WST-21-0614 131 -59 427 453357 5435273 16 3650
WST-21-0622 193 -59 270 453506 5435326 -7 3800
WST-21-0648B 166 -59 345 453228 5435126 135 3475
WST-21-0656 139 -61 322 453357 5435272 16 3650

 

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), 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 (“NI 43-101”).

 

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. 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 defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (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).

 

 

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO EXPANSION DRILLING ADDS NEW HIGH GRADE AT LYNX

177 g/t Au Over 3.0 Metres

(Toronto, March 17, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) 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.

Drilling is currently focused on the Lynx deposit. Significant new analytical results presented below include 66 intercepts in 22 drill holes (5 from surface, 17 from underground) and 21 wedges. The intercepts are located outside the February 2021 mineral resource estimate (“MRE”) (see Osisko news release dated February 17, 2021) and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s expansion results in Lynx and Triple Lynx continue to confirm the growth potential of these zones. The higher-grade intercept in OSK-W-20-2381-W1 extends Lynx 90 metres from the nearest MRE block and WST-20-0602 extends Triple Lynx 100 metres from the nearest MRE block”.

Selected high-grade intercepts include: 177 g/t Au over 3.0 metres and 66.6 g/t Au over 2.0 metres in OSK-W-20-2381-W1; 43.4 g/t Au over 5.3 metres in WST-20-0602; 56.4 g/t Au over 3.2 metres in WST-20-0603; 52.1 g/t Au over 3.4 metres in WST-20-0611; 70.2 g/t Au over 2.2 metres in OSK-W-20-2313-W7;  57.2 g/t Au over 2.1 metres in OSK-W-20-2391; and 25.1 g/t Au over 4.8 metres in OSK-W-20-2252-W8. Maps showing hole locations and full analytical results are available at www.osiskomining.com

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-20-2170-W7 1029.6 1031.9 2.3 11.1   Triple Lynx Triple Lynx
including 1029.6 1030.0 0.4 59.7
OSK-W-20-2252-W10 1182.6 1184.8 2.2 3.89   Triple Lynx Triple Lynx
1190.2 1192.4 2.2 13.8   Triple Lynx Triple Lynx
including 1191.2 1192.1 0.9 31.3
1204.3 1206.3 2.0 4.22   Triple Lynx Triple Lynx
OSK-W-20-2252-W8 975.2 980.0 4.8 25.1 22.6 Triple Lynx Triple Lynx
including 976.5 977.7 1.2 85.8 75.6
OSK-W-20-2271-W2 1133.5 1135.5 2.0 3.64   Lynx 4 Lynx
including 1134.0 1134.5 0.5 14.5
OSK-W-20-2271-W5 1064.6 1067.4 2.8 4.74   Lynx 4 Lynx
including 1064.6 1065.0 0.4 13.1
OSK-W-20-2280-W7 977.0 981.8 4.8 7.78   Triple Lynx Triple Lynx
including 977.0 977.4 0.4 30.4
OSK-W-20-2283-W2 951.0 953.0 2.0 3.94   Triple Lynx Triple Lynx
OSK-W-20-2287 1245.0 1247.0 2.0 3.51   Lynx 4 Lynx
OSK-W-20-2292-W1 1131.8 1134.0 2.2 3.66   Triple Lynx Triple Lynx
including 1131.8 1132.1 0.3 23.5
OSK-W-20-2313-W7 993.0 995.2 2.2 70.2 14.4 Triple Lynx Triple Lynx
including 994.9 995.2 0.3 509 100
OSK-W-20-2313-W9 793.0 797.5 4.5 5.65   Triple Lynx Triple Lynx
including 796.5 797.5 1.0 13.4
OSK-W-20-2322-W1 1047.4 1049.7 2.3 3.69   Lynx 4 Lynx
including 1047.4 1048.0 0.6 13.7
OSK-W-20-2328 898.2 900.5 2.3 3.64   Lynx 4 Lynx
OSK-W-20-2363 578.0 582.0 4.0 6.19   Triple Lynx Triple Lynx
including 581.3 582.0 0.7 24.4
OSK-W-20-2363-W1 662.0 664.1 2.1 4.43   Triple Lynx Triple Lynx
OSK-W-20-2363-W2 751.0 753.5 2.5 5.90   Triple Lynx Triple Lynx
including 753.0 753.5 0.5 12.0
867.6 870.0 2.4 5.18   Triple Lynx Triple Lynx
including 867.6 868.0 0.4 27.7
887.0 889.0 2.0 3.75   Triple Lynx Triple Lynx
OSK-W-20-2363-W3 999.1 1001.6 2.5 4.52   Triple Lynx Triple Lynx
OSK-W-20-2371-W1 654.0 656.3 2.3 17.9   Triple Lynx Triple Lynx
including 655.2 655.8 0.6 60.8
717.0 719.0 2.0 5.97   Triple Lynx Triple Lynx
937.0 939.0 2.0 3.68   Triple Lynx Triple Lynx
including 938.1 938.4 0.3 20.4
977.5 980.9 3.4 10.8   Triple Lynx Triple Lynx
including 977.5 977.8 0.3 70.1
OSK-W-20-2371-W2 815.0 817.0 2.0 3.60   Triple Lynx Triple Lynx
1047.0 1049.0 2.0 4.04   Lynx 4 Lynx
including 1047.4 1048.1 0.7 11.4
OSK-W-20-2375-W3 918.0 920.0 2.0 3.86   Lynx 4 Lynx
OSK-W-20-2381-W1 1332.0 1335.0 3.0 177 38.2 Lynx 4 Lynx
including 1332.0 1333.0 1.0 515 100
1364.5 1366.5 2.0 66.6 26.6 Lynx 4 Lynx
including 1366.1 1366.5 0.4 300 100
OSK-W-20-2391 1183.3 1185.4 2.1 57.2 26.2 Triple Lynx Triple Lynx
including 1185.1 1185.4 0.3 317 100
1283.0 1285.1 2.1 9.73   Triple Lynx Triple Lynx
including 1283.7 1284.0 0.3 58.1
OSK-W-20-2391-W2 1380.0 1382.0 2.0 10.7   Triple Lynx Triple Lynx
including 1380.9 1381.2 0.3 65.3  
  1390.3 1394.7 4.4 21.2   Triple Lynx Triple Lynx
including 1392.8 1393.1 0.3 65.3  
and 1393.9 1394.7 0.8 58.0  
OSK-W-20-2394-W1 889.0 891.0 2.0 5.04   Triple Lynx Triple Lynx
OSK-W-20-2394-W3 1012.6 1015.0 2.4 33.5   Triple Lynx Triple Lynx
including 1013.2 1014.0 0.8 99.9
OSK-W-21-2445 445.0 447.0 2.0 10.3   Triple Lynx Triple Lynx
including 446.7 447.0 0.3 61.6
WST-20-0522 243.0 245.1 2.1 3.79   Lynx SW Lynx SW
WST-20-0523A 297.0 299.0 2.0 3.83   Lynx SW Lynx SW
WST-20-0524 238.7 241.0 2.3 3.60   Lynx SW Lynx SW
including 239.6 240.0 0.4 16.9
WST-20-0548A 271.4 273.6 2.2 3.60   Triple Lynx Triple Lynx
including 272.1 272.8 0.7 10.9
WST-20-0554 357.4 359.4 2.0 6.43   Triple Lynx Triple Lynx
424.0 426.2 2.2 3.77   Triple Lynx Triple Lynx
WST-20-0569 412.0 414.0 2.0 4.31   Lynx SW Lynx
including 412.4 412.7 0.3 27.6
WST-20-0570 323.0 325.0 2.0 3.85   Lynx SW Lynx SW
WST-20-0574 302.9 305.7 2.8 9.11   Lynx SW Lynx SW
  308.0 310.0 2.0 4.07   Lynx SW Lynx SW
  394.5 396.9 2.4 5.64   Lynx SW Lynx SW
  416.0 418.7 2.7 9.20   Lynx SW Lynx SW
including 418.4 418.7 0.3 78.9
510.8 513.0 2.2 4.58   Lynx SW Lynx SW
including 511.7 512.2 0.5 20.0
WST-20-0575 159.0 161.0 2.0 3.54   Triple Lynx Triple Lynx
WST-20-0602 397.1 400.4 3.3 9.53   Lynx SW Lynx SW
including 397.6 398.0 0.4 28.7
572.0 577.3 5.3 43.4 29.9 Lynx SW Lynx SW
including 572.0 573.0 1.0 172 100
WST-20-0603 250.5 253.7 3.2 56.4 34.3 Lynx SW Lynx SW
including 252.0 252.7 0.7 201 100
  257.8 260.0 2.2 5.07   Lynx SW Lynx SW
  278.0 280.0 2.0 28.0   Triple Lynx Triple Lynx
including 278.7 279.2 0.5 95.2
WST-20-0606A 248.5 250.5 2.0 5.41   Lynx SW Lynx SW
273.2 275.2 2.0 15.3   Lynx SW Lynx SW
including 273.7 274.0 0.3 37.3
329.0 331.0 2.0 4.41   Lynx SW Lynx SW
WST-20-0609 299.0 301.4 2.4 12.9   Lynx SW Lynx SW
including 300.9 301.4 0.5 57.0
326.7 329.0 2.3 4.77   Triple Lynx Triple Lynx
including 326.7 327.4 0.7 11.1
346.7 349.0 2.3 3.90   Lynx SW Lynx SW
including 346.7 347.2 0.5 17.4
WST-20-0611 289.0 292.4 3.4 52.1 27.0 Triple Lynx Triple Lynx
including 291.8 292.4 0.6 242 100
WST-20-0615 258.1 260.5 2.4 12.0   Lynx SW Lynx SW
WST-20-0626 451.7 453.8 2.1 4.51   Lynx SW Lynx SW
WST-20-0631 14.8 17.0 2.2 7.22   Lynx Lynx
including 14.8 15.6 0.8 19.7

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-20-2170-W7 128 -59 1205 453425 5435657 413 3900
OSK-W-20-2252-W10 129 -54 1226 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 5435682 410 3950
OSK-W-20-2271-W5 120 -53 1247 453462 5435682 410 3950
OSK-W-20-2280-W7 127 -58 1131 453304 5435639 415 3775
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-20-2287 116 -53 1406 453607 5435714 404 4075
OSK-W-20-2292-W1 125 -54 1149 453035 5435561 420 3525
OSK-W-20-2313-W7 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2313-W9 134 -52 1218 452965 5435583 420 3450
OSK-W-20-2322-W1 130 -54 1233 453608 5435715 403 4075
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2363-W1 139 -52 1059 452930 5435548 419 3425
OSK-W-20-2363-W2 139 -52 1035 452930 5435548 419 3425
OSK-W-20-2363-W3 139 -52 1185 452930 5435548 419 3425
OSK-W-20-2371-W1 123 -53 1032 452996 5435364 412 3375
OSK-W-20-2371-W2 123 -53 1251 452996 5435364 412 3375
OSK-W-20-2375-W3 122 -56 1020 453810 5435779 400 4300
OSK-W-20-2381-W1 134 -53 1512 453620 5435791 402 4125
OSK-W-20-2391 117 -57 1629 453281 5435894 408 3900
OSK-W-20-2391-W2 117 -57 1888 453281 5435894 408 3900
OSK-W-20-2394-W1 138 -52 1065 452922 5435468 415 3375
OSK-W-20-2394-W3 138 -52 1020 452922 5435468 415 3375
OSK-W-21-2445 141 -50 945 452906 5435434 415 3325
WST-20-0522 177 -52 457 453104 5435064 231 3325
WST-20-0523A 165 -46 387 453104 5435065 231 3325
WST-20-0524 182 -44 243 453103 5435064 231 3325
WST-20-0548A 166 -60 370 453228 5435126 135 3475
WST-20-0554 148 -44 562 453257 5435209 96 3525
WST-20-0569 164 -59 526 453104 5435065 231 3325
WST-20-0570 159 -51 454 453104 5435065 231 3325
WST-20-0574 139 -63 523 452955 5435003 253 3175
WST-20-0575 280 -33 280 453413 5435309 69 3725
WST-20-0602 160 -62 651 453227 5435126 134 3475
WST-20-0603 161 -59 525 453227 5435125 134 3475
WST-20-0606A 141 -56 531 453105 5435065 231 3325
WST-20-0609 188 -56 461 453177 5435126 173 3425
WST-20-0611 118 -63 378 453358 5435273 16 3650
WST-20-0615 177 -58 519 453227 5435125 134 3475
WST-20-0626 194 -59 471 453176 5435125 173 3425
WST-20-0631 136 -3 166 453322 5435235 55 3600

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), 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 (“NI 43-101”).

 

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. 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 defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (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).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO MINING CORPORATE UPDATE

(Toronto, March 15, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to announce the promotion of Ms. Alix Drapack to Chief Sustainability Officer (“CSO”). As part of the senior management team reporting to the President, the CSO will oversee the corporation’s sustainability activities including Health & Safety, Environment, Community relations and First Nation relations, agreements and partnerships.
Ms. Drapack joined Osisko Mining Inc. in 2016 and was most recently Senior Vice-President Sustainable Development. She is a professional engineer with over 28 years of experience in managing mining, environmental and transportation projects in Canada and the USA, spanning operations, consulting and corporate office settings. Alix graduated from UBC with a Bachelor of Applied Science in Mining and Mineral Process Engineering. She also holds an MBA from Arizona State University and is a member (P. Eng.) of the Professional Engineers of Ontario. From 2011 to 2014, as Director of Sustainable Development for Osisko Mining Corporation, Alix led the combined federal and provincial environmental assessment process for the Osisko Hammond Reef Project and was responsible for Aboriginal engagement, public consultation and government relations. Previously she developed and implemented the Environmental Management Program for TransLink and has had mining operations experience including working as a Mill Shift foreman for Inco Ltd.
The new appointment reflects Osisko’s values-based approach and commitment to best practice environmental, social and governance (ESG) principles as the Corporation advances the world-class Windfall deposit towards development.

.
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).

CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO EXPANSION DRILLING ADDS NEW HIGH GRADE AT WINDFALL

58.7 g/t Au Over 4.6 Metres in Caribou

(Toronto, March 15, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) 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 40 intercepts in 18 drill holes (15 from surface, 3 from underground) and 11 wedges. The intercepts are located outside the February 2021 mineral resource estimate (see Osisko news release dated February 17, 2021) and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Windfall continues to grow in scale across the deposit as demonstrated by today’s results in five different zones, all of which still remain open to growth.”

Selected intercepts include: 58.7 g/t Au over 4.6 metres in OSK-W-20-2421; 39.2 g/t Au over 2.5 metres in OSK-W-20-2399-W1; 36.8 g/t Au over 2.3 metres in OSK-W-20-2410-W1; 21.2 g/t Au over 3.6 metres in OSK-W-21-2467-W1; and 36.2 g/t Au over 2.0 metres in OSK-W-21-2462. Maps showing hole locations and full analytical results are available at www.osiskomining.com

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-20-2354-W1 705.8 707.8 2.0 3.62   Caribou Caribou
including 706.6 707.1 0.5 12.5
OSK-W-20-2354-W2 633.5 638.1 4.6 8.60   Caribou Caribou
including 633.5 634.9 1.4 20.0
OSK-W-20-2354-W4 629.0 633.0 4.0 11.2   Caribou Caribou
including 629.0 630.0 1.0 34.8
OSK-W-20-2359 673.0 675.0 2.0 4.87   Caribou Caribou
OSK-W-20-2366 299.9 302.0 2.1 3.61   Caribou Caribou
OSK-W-20-2377-W1 889.5 895.5 6.0 7.36   Caribou Caribou
including 889.5 890.0 0.5 25.5
OSK-W-20-2387 575.5 577.5 2.0 4.70   Caribou Caribou
including 576.1 576.6 0.5 15.2
OSK-W-20-2387-W1 521.0 523.0 2.0 18.8   Caribou Caribou
including 521.8 523.0 1.2 29.7
OSK-W-20-2390 622.6 625.0 2.4 4.91   Caribou Caribou
including 623.8 624.5 0.7 14.7
OSK-W-20-2399-W1 621.5 624.0 2.5 39.2   Caribou Caribou
650.0 652.4 2.4 6.67   Caribou Caribou
including 651.0 651.4 0.4 36.5
OSK-W-20-2399-W2 580.0 582.4 2.4 3.83   Caribou Caribou
including 582.1 582.4 0.3 18.5
656.0 658.0 2.0 3.66   Caribou Caribou
OSK-W-20-2400 768.0 770.2 2.2 4.20   Caribou Caribou
OSK-W-20-2401 382.0 384.0 2.0 6.16   Caribou Caribou
including 382.0 383.0 1.0 11.8
OSK-W-20-2407-W1 686.0 688.0 2.0 9.14   Underdog Underdog
including 686.5 687.0 0.5 29.5
OSK-W-20-2410-W1 720.7 723.0 2.3 36.8   Caribou Caribou
including 722.0 723.0 1.0 67.0
OSK-W-20-2414 837.0 839.1 2.1 3.92   Caribou Caribou
OSK-W-20-2415-W1 453.0 455.0 2.0 24.7 20.2 Caribou Caribou
including 453.9 454.3 0.4 123 100
OSK-W-20-2421 530.0 532.1 2.1 6.56   Caribou Caribou
including 530.0 531.0 1.0 13.3
534.0 538.6 4.6 58.7 40.6 Caribou Caribou
including 536.0 537.0 1.0 123 100
and 537.0 537.4 0.4 251 100
OSK-W-20-2424 109.2 111.5 2.3 4.70   F11 F11
including 109.8 110.3 0.5 17.8
OSK-W-20-2433 78.0 80.0 2.0 3.60   F11 F11
including 78.8 79.3 0.5 13.9
216.0 218.0 2.0 3.95   F11 F11
including 216.0 216.5 0.5 11.7
OSK-W-20-2439 45.3 48.0 2.7 4.05   F11 F11
OSK-W-21-2451 647.4 649.4 2.0 4.90   Caribou Caribou
including 648.0 648.4 0.4 15.0
748.0 750.5 2.5 19.1   Caribou Caribou
OSK-W-21-2460 535.8 538.0 2.2 18.8   Caribou Caribou
724.6 726.7 2.1 3.95   Caribou Caribou
OSK-W-21-2462 480.0 482.0 2.0 36.2 25.7 Caribou Caribou
including 480.9 481.4 0.5 142 100
678.0 680.4 2.4 5.78   Caribou Caribou
OSK-W-21-2466 539.0 541.0 2.0 9.76   Caribou Caribou
OSK-W-21-2467-W1 421.0 423.0 2.0 3.65   Caribou Caribou
602.0 604.0 2.0 21.9   Caribou Caribou
including 603.0 604.0 1.0 43.6
636.1 639.7 3.6 21.2   Caribou Caribou
including 636.1 636.6 0.5 89.3
687.0 689.0 2.0 14.0   Caribou Caribou
including 687.0 688.0 1.0 25.0
WST-20-0519 148.0 150.0 2.0 6.76   Z27 Zone 27
WST-20-0558 98.0 100.0 2.0 4.57   Bobcat Bobcat
including 98.4 99.1 0.7 12.8
166.0 168.0 2.0 7.15   Bobcat Bobcat
including 167.7 168.0 0.3 47.5
WST-20-0566A 93.9 96.3 2.4 3.57   Z27 Zone 27
including 95.0 95.6 0.6 12.0

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

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2354-W1 336 -60 792 452739 5434474 401 2725
OSK-W-20-2354-W2 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W4 336 -60 783 452739 5434474 401 2725
OSK-W-20-2359 335 -61 726 452694 5434440 401 2675
OSK-W-20-2366 323 -55 534 452682 5434624 398 2750
OSK-W-20-2377-W1 132 -49 1314 452702 5435548 409 3225
OSK-W-20-2387 336 -59 717 452694 5434440 401 2675
OSK-W-20-2387-W1 336 -59 738 452694 5434440 401 2675
OSK-W-20-2390 330 -65 647 452595 5434393 401 2550
OSK-W-20-2399-W1 333 -54 876 452874 5434552 398 2875
OSK-W-20-2399-W2 333 -54 876 452874 5434552 398 2875
OSK-W-20-2400 336 -53 884 452876 5434419 402 2825
OSK-W-20-2401 330 -55 705 452688 5434637 397 2750
OSK-W-20-2407-W1 347 -55 1044 452315 5434419 399 2325
OSK-W-20-2410-W1 338 -62 750 452727 5434358 402 2650
OSK-W-20-2414 337 -54 882 452880 5434419 402 2825
OSK-W-20-2415-W1 328 -54 762 452738 5434474 401 2725
OSK-W-20-2421 332 -59 699 452632 5434280 400 2525
OSK-W-20-2424 150 -45 267 452638 5436000 403 3375
OSK-W-20-2433 148 -47 411 452558 5436073 405 3350
OSK-W-20-2439 147 -50 360 452515 5436029 406 3275
OSK-W-21-2451 330 -58 803 452809 5434415 404 2750
OSK-W-21-2460 332 -55 789 452732 5434537 399 2750
OSK-W-21-2462 338 -57 888 452874 5434552 398 2875
OSK-W-21-2466 330 -66 639 452597 5434393 401 2550
OSK-W-21-2467-W1 331 -54 708 452687 5434471 402 2675
WST-20-0519 136 -45 162 452282 5434976 262 2575
WST-20-0558 155 -32 169 452955 5435003 253 3175
WST-20-0566A 132 -16 368 452208 5434898 248 2475

 

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.

 

Zone 27

Mineralization most commonly occurs as replacement-type characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, local quartz-carbonate veins, and local visible gold. Mineralization is associated with moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite and is hosted in strongly altered andesites, in or at the contact of the rhyolite, or along the contacts with felsic porphyritic intrusions.

F-Zone

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.

 

Bobcat

Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

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.

 

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 (“NI 43-101”).

 

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. 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 defined by Osisko, as disclosed in the news release dated February 17, 2021 and supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (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 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).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO MINING ORDERS MILLING EQUIPMENT FOR WINDFALL

(Toronto, March 9, 2021) Osisko Mining Inc. (OSK:TSX: “Osisko” or the “Corporation”) is pleased to announce that it has placed an order for grinding equipment and ancillaries from FLSmidth, a leading technology and equipment supply company, for its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

The order consists of a 7.3 meters (24 foot) diameter x 3.4 meters (11 foot) long gear-driven semi-autogenous grinding (SAG) mill and a 5.2 meters (17 foot) diameter x 9.4 meters (31 foot) long gear-driven ball mill.  Current planning foresees installation and operation of the grinding mills in a SABC[1] configuration.  The grinding mills have a capacity of processing up to 176.6 dry tonnes per hour, or 3,900 tonnes per day based on 92% availability.  The equipment is expected to be delivered to the Windfall project in the second half of 2022. Installation will follow pending successful receipt of all permits and authorizations.

 

John Burzynski, Chief Executive Officer of Osisko commented: “FLSmidth is a recognized global leader in grinding technologies with a long track record of providing high quality products, and we are looking forward to be working with them on our developing Windfall project.  Securing these critical long lead time components of the grinding circuit is an important first step in solidifying detailed engineering for the Windfall plant.  We continue to advance all aspects of work on Windfall including our environmental assessment and consultation with our host communities and look forward to additional near-term announcements regarding our infrastructure plans.”

 

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 defined by Osisko, as disclosed in the news release dated February 17, 2021 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, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. 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).

 

About FLSmidth

FlSmidth is the market-leading supplier of sustainable productivity to the global mining and cement industries.  Headquartered in Copenhagen, Denmark, and with offices in more than 50 countries including Canada, FLSmidth delivers engineering, equipment and service solutions to customers worldwide.  Productivity, sustainability, and quality are focus areas for the 12,000 employees in FLSmidth.

 

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

[1] In a SABC configuration, the SAG and ball mill are in closed circuit, with the SAG mill closed with a crusher to control the amount of ‘critical size’ material in the circuit.

OSISKO FILES TECHNICAL REPORT FOR WINDFALL MINERAL RESOURCE ESTIMATE UPDATE

(Toronto, March 8, 2021) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce that it has filed a technical report in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects to update the mineral resource estimate on its 100% owned Windfall gold deposit. The technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” and dated March 8, 2021 (effective date of November 30, 2020) has been prepared for Osisko by BBA Inc. The technical report is available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

 

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).

 

Cautionary Statements Regarding Mineral Resource Estimate

Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of mineral resources that are not mineral reserves has not been demonstrated. The mineral resource estimate described in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Readers are cautioned not to assume that further work on the stated mineral resources will lead to mineral reserves that can be mined economically.

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO WINDFALL INFILLS WITH HIGH-GRADE IN MULTIPLE ZONES 35.7 g/t Au Over 9.8 Metres in Underdog 65.6 g/t Au over 4.2 meters in Caribou

(Toronto, March 03, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) 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.

Today’s infill results are from the southwestern areas of the deposit including Zone 27, Underdog, Caribou, F11, Mallard, and Bobcat. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling continues to deliver impressive grade and width results from the Windfall deposit.”

The table below contains resource definition infill intercepts located inside defined February 2021 mineral resource estimate blocks (see Osisko news release dated February 17, 2021). Significant new analytical results are presented below, including 73 intercepts in 33 drill holes (24 from surface, 9 from underground) and 10 wedges.

Selected intercepts include: 35.7 g/t Au over 9.8 metres, 70.7 g/t Au over 2.0 metres, and 50.4 g/t Au over 3.6 metres in OSK-W-20-2407; 65.6 g/t Au over 4.2 metres in OSK-W-20-2390; 60.8 g/t Au over 2.0 metres in OSK-W-20-2405; 39.0 g/t Au over 3.0 metres in OSK-W-20-2400; 55.2 g/t Au over 2.0 metres in OSK-W-20-2399 and 18.9 g/t Au over 5.5 metres in OSK-W-20-2354-W2. 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-20-852-W4 725.0 727.0 2.0 6.83   Caribou_2212 Caribou
including 725.6 726.0 0.4 27.6
OSK-W-20-913-W1 634.7 637.0 2.3 3.39   Caribou_2523 Caribou
including 634.7 635.0 0.3 18.6
  851.0 853.3 2.3 11.1   Caribou_2219 Caribou
including 851.0 851.5 0.5 47.2
OSK-W-20-913-W2 715.0 717.8 2.8 3.89   Caribou_2210 Caribou
  846.0 848.0 2.0 15.5   Caribou_2219 Caribou
including 846.0 846.7 0.7 44.0
OSK-W-20-2354-W1 647.0 650.5 3.5 14.6   Caribou_2233 Caribou
  674.2 677.4 3.2 24.7   Caribou_2208 Caribou
including 677.0 677.4 0.4 77.9
OSK-W-20-2354-W2 641.0 646.5 5.5 18.9   Caribou_2233 Caribou
including 642.8 643.1 0.3 61.9
OSK-W-20-2354-W3 632.0 635.0 3.0 8.61   Caribou_2214 Caribou
  665.7 670.0 4.3 7.53   Caribou_2208 Caribou
including 669.0 670.0 1.0 17.1
OSK-W-20-2354-W4 498.8 501.0 2.2 3.79   Caribou Caribou
  649.0 651.0 2.0 6.43   Caribou_2233 Caribou
  673.0 676.0 3.0 16.7   Caribou_2208 Caribou
  708.0 711.0 3.0 4.97   Caribou_2220 Caribou
OSK-W-20-2359 360.8 363.0 2.2 5.96   Caribou Caribou
OSK-W-20-2359-W1 361.0 363.0 2.0 6.17   Caribou Caribou
  662.0 664.9 2.9 4.88   Caribou_2206 Caribou
OSK-W-20-2366 459.0 461.0 2.0 4.90   Caribou_2210 Caribou
including 460.0 461.0 1.0 9.13
OSK-W-20-2373 600.0 602.0 2.0 3.14   Caribou_2241 Caribou
including 600.6 601.4 0.8 7.07
OSK-W-20-2376 320.3 322.3 2.0 3.56   Caribou_2116 Caribou
  432.6 436.0 3.4 5.32   Caribou_2235 Caribou
including 435.0 436.0 1.0 13.3
OSK-W-20-2377 741.0 743.2 2.2 3.22   Caribou_2553 Caribou
OSK-W-20-2387 661.2 663.2 2.0 8.69   Caribou_2233 Caribou
OSK-W-20-2388 537.0 539.7 2.7 4.76   Caribou_2215 Caribou
  610.7 614.2 3.5 13.8   Caribou_2217 Caribou
including 610.7 611.0 0.3 87.5
639.3 641.8 2.5 4.14   Caribou_2218 Caribou
including 640.4 641.1 0.7 11.0
  645.4 647.5 2.1 3.87   Caribou_2218 Caribou
including 646.0 646.5 0.5 16.1
OSK-W-20-2390 594.8 599.0 4.2 65.6 51.2 Caribou_2241 Caribou
including 596.9 597.2 0.3 147 100
and 597.5 598.1 0.6 178 100
OSK-W-20-2399 673.0 675.0 2.0 55.2 20.2 Caribou_2212 Caribou
including 674.0 674.4 0.4 275 100
OSK-W-20-2400 750.0 753.0 3.0 39.0 36 Caribou_2215 Caribou
including 752.0 753.0 1.0 109 100
  797.0 802.0 5.0 6.32   Caribou_2220 Caribou
including 798.0 799.0 1.0 16.4
  858.0 861.7 3.7 6.19   Caribou_2219 Caribou
including 860.0 861.3 1.3 12.6
OSK-W-20-2405 262.0 264.0 2.0 60.8 42.4 Caribou_2106 Caribou
including 262.7 263.5 0.8 146 100
  622.0 624.0 2.0 4.35   Caribou_2214 Caribou
including 622.0 622.6 0.6 11.2
  626.5 630.0 3.5 16.8   Caribou_2214 Caribou
including 627.5 628.0 0.5 56.0
OSK-W-20-2405-W1 655.9 657.9 2.0 16.6   Caribou_2233 Caribou
including 656.5 657.0 0.5 44.4
OSK-W-20-2407 662.0 665.6 3.6 50.4 46.6 Underdog_4101 Underdog
including 663.6 664.4 0.8 184 100
  681.0 683.0 2.0 3.77   Underdog_4100 Underdog
  690.0 699.8 9.8 35.7   Underdog_4100 Underdog
including 690.0 691.0 1.0 85.0
and 695.0 696.0 1.0 76.4
  705.0 707.0 2.0 70.7 21.9 Underdog_4102 Underdog
including 706.3 706.7 0.4 344 100
OSK-W-20-2410 686.4 688.4 2.0 6.69   Caribou_2214 Caribou
OSK-W-20-2414 628.0 630.0 2.0 12.0   Caribou_2524 Caribou
including 629.0 630.0 1.0 23.7
OSK-W-20-2415 608.8 611.0 2.2 9.96   Caribou_2211 Caribou
including 608.8 609.2 0.4 45.9
  703.4 707.4 4.0 17.4   Caribou_2220 Caribou
including 703.4 703.7 0.3 78.4
OSK-W-20-2415-W1 638.3 643.2 4.9 12.0   Caribou_2233 Caribou
including 638.3 639.3 1.0 32.5
OSK-W-20-2425 621.0 624.1 3.1 19.3 14.2 Caribou_2220 Caribou
including 623.8 624.1 0.3 152 100
  709.4 711.4 2.0 3.91   Caribou_2219 Caribou
including 710.0 710.6 0.6 11.5
OSK-W-20-2432 749.6 751.7 2.1 11.0   Caribou_2208 Caribou
including 750.2 750.9 0.7 28.9
OSK-W-20-2437 608.4 610.4 2.0 6.62   Caribou_2214 Caribou
including 608.4 609.1 0.7 17.6
OSK-W-20-2438 600.0 603.9 3.9 10.4   Caribou_2211 Caribou
including 600.0 601.0 1.0 18.6
OSK-W-20-2440 690.0 692.0 2.0 6.68   Caribou_2217 Caribou
  702.0 705.0 3.0 10.3   Caribou_2220 Caribou
  738.0 740.0 2.0 3.29   Caribou_2218 Caribou
OSK-W-21-2444 451.2 453.4 2.2 4.06   Caribou_2236 Caribou
  558.1 562.1 4.0 17.5   Caribou_2215 Caribou
including 561.1 562.1 1.0 38.1
  572.0 574.0 2.0 4.30   Caribou_2250 Caribou
including 572.9 573.2 0.3 19.8
OSK-W-21-2451 729.0 734.6 5.6 8.55   Caribou_2208 Caribou
including 734.0 734.6 0.6 34.0
  739.5 742.3 2.8 20.7   Caribou_2208 Caribou
OSK-W-21-2455 594.0 596.1 2.1 5.35   Caribou_2211 Caribou
  666.7 668.8 2.1 3.55   Caribou_2208 Caribou
OSK-W-21-2460 438.9 441.7 2.8 9.51   Caribou_2116 Caribou
including 441.4 441.7 0.3 28.0
WST-20-0479B 36.4 38.5 2.1 4.19   Mallard_5208 Mallard
  269.0 271.0 2.0 9.08   Z27_1123 Zone 27
including 269.0 270.0 1.0 18.0
WST-20-0517 77.4 79.5 2.1 18.9   Mallard_5211 Mallard
including 77.4 78.0 0.6 47.1
WST-20-0519 59.0 61.0 2.0 6.07   Mallard_5208 Mallard
WST-20-0520 176.2 178.3 2.1 6.20   Z27_1123 Zone 27
including 176.2 176.7 0.5 20.5
WST-20-0521 191.3 193.7 2.4 4.40   Z27_1102 Zone 27
  195.2 197.2 2.0 4.76   Z27_1102 Zone 27
  231.9 234.3 2.4 7.99   Z27_1123 Zone 27
including 233.9 234.3 0.4 31.7
WST-20-0555 118.8 121.6 2.8 10.8   Bobcat_2350 Bobcat
including 119.5 119.9 0.4 24.6
and 121.0 121.6 0.6 23.2
WST-20-0566 13.0 15.3 2.3 5.64   Mallard_5211 Mallard
including 14.0 14.3 0.3 15.7
WST-20-0566A 255.5 259.3 3.8 13.4   Caribou_2100 Caribou
including 255.8 256.1 0.3 37.6
and 259.0 259.3 0.3 83.6
WST-20-0627 14.0 16.9 2.9 8.32   Mallard_5211 Mallard

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

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-852-W4 330 -55 873 452874 5434552 398 2875
OSK-W-20-913-W1 334 -52 939 452878 5434419 401 2825
OSK-W-20-913-W2 334 -52 913 452878 5434419 401 2825
OSK-W-20-2354-W1 336 -60 792 452739 5434474 401 2725
OSK-W-20-2354-W2 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W3 336 -60 750 452739 5434474 401 2725
OSK-W-20-2354-W4 336 -60 783 452739 5434474 401 2725
OSK-W-20-2359 335 -61 726 452694 5434440 401 2675
OSK-W-20-2359-W1 335 -61 696 452694 5434440 401 2675
OSK-W-20-2366 323 -55 534 452682 5434624 398 2750
OSK-W-20-2373 335 -65 647 452595 5434393 401 2550
OSK-W-20-2376 325 -55 510 452689 5434637 397 2750
OSK-W-20-2377 132 -49 1326 452702 5435548 409 3225
OSK-W-20-2387 336 -59 717 452694 5434440 401 2675
OSK-W-20-2388 326 -61 699 452715 5434606 397 2775
OSK-W-20-2390 330 -65 647 452595 5434393 401 2550
OSK-W-20-2399 333 -54 864 452874 5434552 398 2875
OSK-W-20-2400 336 -53 884 452876 5434419 402 2825
OSK-W-20-2405 332 -58 723 452694 5434440 401 2675
OSK-W-20-2405-W1 332 -58 716 452694 5434440 401 2675
OSK-W-20-2407 347 -55 993 452315 5434419 399 2325
OSK-W-20-2410 338 -62 768 452727 5434358 402 2650
OSK-W-20-2414 337 -54 882 452880 5434419 402 2825
OSK-W-20-2415 328 -54 755 452738 5434474 401 2725
OSK-W-20-2415-W1 328 -54 762 452738 5434474 401 2725
OSK-W-20-2425 336 -60 747 452715 5434606 397 2775
OSK-W-20-2432 333 -57 864 452809 5434415 404 2750
OSK-W-20-2437 329 -62 630 452597 5434393 401 2550
OSK-W-20-2438 331 -60 729 452695 5434401 402 2650
OSK-W-20-2440 330 -52 807 452738 5434474 401 2725
OSK-W-21-2444 337 -59 636 452715 5434606 397 2775
OSK-W-21-2451 330 -58 803 452809 5434415 404 2750
OSK-W-21-2455 328 -53 780 452738 5434474 401 2725
OSK-W-21-2460 332 -55 786 452732 5434537 399 2750
WST-20-0479B 138 -59 402 452281 5434975 262 2575
WST-20-0517 140 -55 400 452281 5434975 262 2575
WST-20-0519 136 -45 162 452282 5434976 262 2575
WST-20-0520 135 -46 388 452281 5434975 263 2575
WST-20-0521 153 -57 385 452281 5434975 262 2575
WST-20-0555 145 -25 160 452955 5435003 254 3175
WST-20-0566 132 -16 20 452208 5434898 248 2475
WST-20-0566A 132 -16 368 452208 5434898 248 2475
WST-20-0627 130 -18 84 452208 5434899 249 2475

 

 

 

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.

 

Underdog

Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated and 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.

 

F-Zone

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

 

Bobcat

Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

 

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

 

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 (“NI 43-101”).

 

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. 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 defined by Osisko, as disclosed in the news release dated February 17, 2021 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, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. 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 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).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653

OSISKO INFILL CONTINUES TO DELIVER WITH 342 g/t Au OVER 2.5 METRES

(Toronto, March 1st, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) 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.

Infill drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to deliver with high-grade and width as we infill the mineral resource estimate (“MRE”) areas published earlier this month.”

The table below contains resource definition infill intercepts located inside defined February 2021 MRE blocks (see Osisko news release dated February 17, 2021). Significant new analytical results are presented below, including 80 intercepts in 21 drill holes (7 from surface, 14 from underground) and 26 wedges.

Select intercepts include: 342 g/t Au over 2.5 metres in OSK-W-20-1432-W2; 37.7 g/t Au over 7.2 metres in OSK-W-20-2283-W5; 56.4 g/t Au over 4.0 metres, 18.3 g/t Au over 5.5 metres and 45.3 g/t Au over 2.1 metres in OSK-W-20-2256-W8; 79.8 g/t Au over 2.4 metres in OSK-W-20-2397; 63.8 g/t Au over 2.4 metres in OSK-W-20-2271-W6; 36.0 g/t Au over 2.7 metres in WST-20-0548A; 42.2 g/t Au over 2.0 metres in OSK-W-20-2280-W6; and 21.1 g/t Au over 4.0 metres in OSK-W-20-2283-W4. 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-20-1432-W2 959.5 962.0 2.5 342 72.1 LX4_3437 Lynx
including 960.2 961.0 0.8 596 100
OSK-W-20-2133-W4 966.4 969.0 2.6 3.85   TLX_3188 Triple Lynx
OSK-W-20-2170-W7 971.0 973.0 2.0 25.5   TLX_3163 Triple Lynx
including 971.0 972.0 1.0 41.1
  995.0 997.5 2.5 4.18   TLX_3163 Triple Lynx
  1051.0 1053.0 2.0 4.07   TLX_3162 Triple Lynx
OSK-W-20-2252-W5 901.0 903.0 2.0 3.30   TLX_3185 Triple Lynx
OSK-W-20-2252-W10 939.9 942.0 2.1 3.31   TLX_3163 Triple Lynx
OSK-W-20-2256-W8 872.5 877.0 4.5 4.39   TLX_3189 Triple Lynx
  883.2 887.0 3.8 4.17   TLX_3161 Triple Lynx
including 886.0 886.5 0.5 8.68
  888.5 890.5 2.0 7.73   TLX_3161 Triple Lynx
including 889.4 889.9 0.5 30.2
  901.7 905.7 4.0 56.4 48.5 TLX_3161 Triple Lynx
including 901.7 902.2 0.5 139 100
and 903.0 903.5 0.5 125 100
  907.7 913.2 5.5 18.3   TLX_3161 Triple Lynx
including 911.7 912.5 0.8 44.5
  921.0 923.1 2.1 45.3   TLX_3161 Triple Lynx
including 922.1 923.1 1.0 92.7
  961.0 966.3 5.3 13.4   TLX_3163 Triple Lynx
including 965.7 966.3 0.6 87.2
  972.0 974.0 2.0 3.59   TLX_3163 Triple Lynx
  1001.2 1003.6 2.4 13.8   TLX_3164 Triple Lynx
including 1002.2 1002.6 0.4 40.5
OSK-W-20-2271-W3 1093.0 1095.0 2.0 4.59   LX4_3440 Lynx
OSK-W-20-2271-W4 1085.0 1087.0 2.0 9.68   LX4_3418 Lynx
including 1085.0 1085.5 0.5 21.0
OSK-W-20-2271-W5 825.5 828.0 2.5 29.5 12.4 LXM_3317 Lynx
including 826.2 826.5 0.3 242 100
  1177.2 1179.8 2.6 6.19   LX4_3430 Lynx
OSK-W-20-2271-W6 849.0 851.0 2.0 5.07   LXM_3345 Lynx
  1131.6 1133.7 2.1 10.5   LX4_3434 Lynx
including 1132.7 1133.0 0.3 46.1
  1135.6 1138.0 2.4 63.8 26.7 LX4_3434 Lynx
including 1137.3 1137.7 0.4 323 100
OSK-W-20-2280-W2 1096.4 1098.8 2.4 6.46   TLX_3170 Triple Lynx
OSK-W-20-2280-W6 916.0 918.1 2.1 3.88   TLX_3161 Triple Lynx
including 916.7 917.1 0.4 16.3
  951.0 953.7 2.7 3.43   TLX_3180 Triple Lynx
  956.0 958.0 2.0 3.64   TLX_3180 Triple Lynx
  965.0 967.0 2.0 42.2   TLX_3180 Triple Lynx
including 966.0 967.0 1.0 82.8
  1033.1 1036.0 2.9 4.53   TLX_3164 Triple Lynx
including 1033.4 1033.8 0.4 25.0
  1062.6 1064.9 2.3 7.50   TLX_3162 Triple Lynx
including 1063.5 1064.3 0.8 20.5
OSK-W-20-2280-W7 1017.2 1019.6 2.4 4.06   TLX_3164 Triple Lynx
OSK-W-20-2280-W9 979.0 981.0 2.0 3.17   TLX_3180 Triple Lynx
  985.0 987.0 2.0 4.84   TLX_3180 Triple Lynx
including 986.7 987.0 0.3 21.0
  1020.0 1022.5 2.5 5.00   TLX_3183 Triple Lynx
  1066.1 1069.0 2.9 5.01   TLX_3164 Triple Lynx
including 1066.1 1066.4 0.3 26.0
  1082.0 1089.0 7.0 4.51   TLX_3162 Triple Lynx
including 1087.7 1088.1 0.4 22.2
OSK-W-20-2283-W3 787.0 789.0 2.0 5.52   TLX_3171 Triple Lynx
including 788.0 788.3 0.3 35.6
  805.0 807.0 2.0 3.51   TLX_3184 Triple Lynx
OSK-W-20-2283-W4 792.0 796.0 4.0 21.1   TLX_3171 Triple Lynx
  808.0 810.9 2.9 9.76   TLX_3184 Triple Lynx
including 809.1 810.0 0.9 19.6
  921.0 926.0 5.0 5.16   TLX_3194 Triple Lynx
including 922.7 924.0 1.3 13.9
OSK-W-20-2283-W5 803.8 811.0 7.2 37.7   TLX_3171 Triple Lynx
including 807.7 809.0 1.3 76.5
OSK-W-20-2283-W7 840.0 847.0 7.0 10.4   TLX_3184 Triple Lynx
including 844.0 845.0 1.0 42.3
  849.0 852.0 3.0 6.33   TLX_3184 Triple Lynx
OSK-W-20-2295-W4 882.0 884.3 2.3 26.8 21.5 TLX_3195 Triple Lynx
including 882.4 882.7 0.3 141 100
and 884.0 884.3 0.3 55.8
OSK-W-20-2313-W7 960.0 962.0 2.0 3.92   TLX_3193 Triple Lynx
including 960.7 961.4 0.7 11.0
OSK-W-20-2313-W8 827.8 830.0 2.2 3.82   TLX_3171 Triple Lynx
including 828.6 828.9 0.3 20.8
OSK-W-20-2322-W3 1138.0 1140.2 2.2 6.26   LX4_3430 Lynx
including 1139.6 1140.2 0.6 16.5
OSK-W-20-2346 978.0 980.0 2.0 12.1   LX4_3413 Lynx
  1092.0 1094.1 2.1 3.83   LX4_3438 Lynx
OSK-W-20-2363 630.0 632.1 2.1 16.7   TLX_3178 Triple Lynx
including 630.4 630.9 0.5 62.2
OSK-W-20-2363-W1 955.0 957.0 2.0 7.28   TLX_3195 Triple Lynx
OSK-W-20-2375 887.3 890.0 2.7 9.19   LX4_3414 Lynx
including 888.3 889.0 0.7 31.4
OSK-W-20-2381-W1 1228.0 1230.0 2.0 8.54   LX4_3449 Lynx
including 1228.0 1228.7 0.7 24.3
OSK-W-20-2384 991.0 993.0 2.0 7.24   LX4_3430 Lynx
  1000.5 1003.0 2.5 26.5 22.2 LX4_3430 Lynx
including 1001.2 1001.7 0.5 122 100
  1013.0 1015.0 2.0 19.5   LX4_3430 Lynx
OSK-W-20-2385 755.0 757.3 2.3 17.0   LX4_3426 Lynx
including 755.0 756.0 1.0 38.1
  776.0 778.0 2.0 31.2   LX4_3426 Lynx
including 777.0 777.5 0.5 98.0
OSK-W-20-2385-W1 778.7 781.0 2.3 6.32   LX4_3426 Lynx
including 779.2 779.6 0.4 24.3
OSK-W-20-2394 652.0 654.0 2.0 5.93   TLX_3184 Triple Lynx
including 652.4 652.8 0.4 17.7
OSK-W-20-2394-W1 642.8 645.0 2.2 14.5   TLX_3171 Triple Lynx
including 643.3 643.7 0.4 53.1
OSK-W-20-2397 660.8 664.4 3.6 11.1   LXM_3304 Lynx
including 660.8 661.4 0.6 43.3
  667.5 669.9 2.4 79.8 41.9 LXM_3304 Lynx
including 668.2 669.1 0.9 201 100
  676.9 679.1 2.2 20.5   LXM_3304 Lynx
including 678.1 678.6 0.5 82.9
WST-20-0492 116.9 119.2 2.3 22.3 17.6 LXM_3303 Lynx
including 116.9 117.3 0.4 127 100
WST-20-0524 81.9 86.2 4.3 3.58   LXM_3311 Lynx
WST-20-0548A 67.6 70.3 2.7 36.0   LXM_3339 Lynx
including 67.6 68.3 0.7 64.9
WST-20-0553 131.7 134.1 2.4 8.67   LXM_3303 Lynx
including 132.3 132.8 0.5 33.0
WST-20-0570 70.7 72.7 2.0 8.74   LXM_3361 Lynx
including 70.7 71.7 1.0 16.9
  274.1 276.1 2.0 6.79   LXSW_3556 Lynx SW
including 274.1 275.0 0.9 13.0
WST-20-0571 394.4 396.5 2.1 10.3   LXSW_3502 Lynx SW
including 395.8 396.1 0.3 60.1
WST-20-0572A 285.0 287.0 2.0 6.39   LXSW_3556 Lynx
including 286.0 287.0 1.0 12.6
WST-20-0577A 75.0 77.5 2.5 12.9   LXM_3303 Lynx
including 75.8 76.7 0.9 35.6
WST-20-0582 129.5 131.5 2.0 9.97   LXM_3339 Lynx
WST-20-0583 117.0 119.0 2.0 3.80   LXM_3307 Lynx
including 118.5 119.0 0.5 8.03
WST-20-0592 129.8 132.0 2.2 4.61   LXM_3303 Lynx
including 130.3 131.0 0.7 13.1
WST-20-0593 118.9 121.4 2.5 4.63   LXM_3303 Lynx
including 118.9 119.9 1.0 11.5
WST-20-0611 262.7 265.2 2.5 26.8   TLX_3161 Triple Lynx
including 262.7 263.6 0.9 66.9
WST-20-0628 112.1 114.5 2.4 6.47   LXM_3334 Lynx
including 113.0 113.5 0.5 18.0

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-20-1432-W2 132 -55 993 453811 5435779 400 4300
OSK-W-20-2133-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2170-W7 128 -59 1205 453425 5435657 413 3900
OSK-W-20-2252-W5 129 -54 1092 453241 5435694 415 3750
OSK-W-20-2252-W10 129 -54 824 453241 5435694 415 3750
OSK-W-20-2256-W8 125 -51 1056 453160 5435686 411 3675
OSK-W-20-2271-W3 120 -53 1235 453462 5435683 410 3950
OSK-W-20-2271-W4 120 -53 1134 453462 5435683 410 3950
OSK-W-20-2271-W5 120 -53 1247 453462 5435683 410 3950
OSK-W-20-2271-W6 120 -53 1232 453462 5435683 410 3950
OSK-W-20-2280-W2 127 -58 1211 453304 5435639 415 3775
OSK-W-20-2280-W6 127 -58 1152 453304 5435639 415 3775
OSK-W-20-2280-W7 127 -58 1131 453304 5435639 415 3775
OSK-W-20-2280-W9 127 -58 1037 453304 5435639 415 3775
OSK-W-20-2283-W3 135 -50 1004 452997 5435607 425 3500
OSK-W-20-2283-W4 135 -50 1012 452997 5435607 425 3500
OSK-W-20-2283-W5 135 -50 1043 452997 5435607 425 3500
OSK-W-20-2283-W7 135 -50 1049 452997 5435607 425 3500
OSK-W-20-2295-W4 132 -51 1082 452933 5435473 415 3375
OSK-W-20-2313-W7 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2313-W8 134 -52 1098 452965 5435583 420 3450
OSK-W-20-2322-W3 130 -54 1274 453608 5435715 403 4075
OSK-W-20-2346 130 -53 1161 453397 5435557 413 3825
OSK-W-20-2363 139 -52 1031 452930 5435548 419 3425
OSK-W-20-2363-W1 139 -52 1059 452930 5435548 419 3425
OSK-W-20-2375 122 -56 1160 453810 5435779 400 4300
OSK-W-20-2381-W1 134 -53 1274 453620 5435791 402 4125
OSK-W-20-2384 127 -52 1164 453397 5435557 413 3825
OSK-W-20-2385 125 -54 873 453687 5435679 401 4150
OSK-W-20-2385-W1 125 -54 937 453687 5435679 401 4150
OSK-W-20-2394 138 -52 864 452922 5435468 415 3375
OSK-W-20-2394-W1 138 -52 645 452922 5435468 415 3375
OSK-W-20-2397 131 -58 1197 453451 5435594 412 3900
WST-20-0492 158 -7 142 453256 5435209 97 3525
WST-20-0524 182 -44 243 453104 5435064 231 3325
WST-20-0548A 166 -59 370 453227 5435126 134 3475
WST-20-0553 148 -28 224 453257 5435209 96 3525
WST-20-0570 159 -50 454 453104 5435065 231 3325
WST-20-0571 167 -55 465 453104 5435065 231 3325
WST-20-0572A 136 -51 463 452955 5435004 252 3175
WST-20-0577A 117 -55 196 453316 5435167 124 3575
WST-20-0582 176 -56 144 453177 5435125 173 3425
WST-20-0583 176 -50 129 453177 5435125 173 3425
WST-20-0592 137 -26 205 453257 5435209 96 3525
WST-20-0593 149 -16 202 453257 5435209 96 3525
WST-20-0611 118 -63 378 453358 5435273 16 3650
WST-20-0628 150 -31 164 453321 5435235 55 3600

 

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.

 

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 (“NI 43-101”).

 

 

 

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. 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 defined by Osisko, as disclosed in the news release dated February 17, 2021 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, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. 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 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).

 

Cautionary Note Regarding Forward-Looking Information

This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.

 

 

CONTACT INFORMATION:

John Burzynski
Chief Executive Officer
Telephone (416) 363-8653