OSISKO DRILLING RETURNS HIGH-GRADE AT WINDFALL

96.7 g/t Au Over 2.2 Metres in Triple Lynx

97.4 g/t Au Over 2.0 Metres in Underdog

(Toronto, July 20, 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 96 intercepts in 25 drill holes (7 from surface, 18 from underground) and 20 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “The drill program at Windfall continues to deliver positive results. Both headline holes are infill holes from two different zones. Further, the first two intervals in hole OSK-W-21-2123-W5 extended Lynx 4 wireframe-3170 25 meters to depth and the third interval is in an adjacent area currently being modelled. Expansion drilling in the Triple Lynx corridor following up on hole OSK-W-20-2371-W1 which intersected 123 g/t Au over 2.4 meters (see Osisko news release dated April 8, 2021) successfully intercepted this new zone with the last interval in hole OSK-W-21-2275-W7. All these results will be included in the resource estimate update by the end of the year”.

Selected high-grade intercepts include: 96.7 g/t Au over 2.2 metres and 29.3 g/t Au over 5.2 metres in WST-21-0824; 49.9 g/t Au over 4.0 metres in OSK-W-21-2503-W1; 97.4 g/t Au over 2.0 metres in OSK-W-21-2512-W1; 69.9 g/t Au over 2.4 metres in OSK-W-21-2522; 67.0 g/t Au over 2.1 metres in WST-21-0791; 28.7 g/t Au over 4.1 metres in WST-21-0797A; 51.9 g/t Au over 2.2 metres in OSK-W-21-2512. 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-21-1827-W5 520.7 523.0 2.3 6.06   Caribou_2241 Caribou
including 520.7 521.7 1.0 13.4
OSK-W-21-1882-W4 452.0 454.0 2.0 4.47   Caribou_2232 Caribou
including 453.4 454.0 0.6 14.1
790.9 793.0 2.1 6.17   UDD_4100 Underdog
including 791.2 791.5 0.3 32.4
OSK-W-21-2067-W9 1048.0 1050.0 2.0 10.1   TLX_3183 Triple Lynx
  1069.0 1071.0 2.0 6.57   TLX_3163 Triple Lynx
  1107.6 1111.5 3.9 5.52   TLX_3162 Triple Lynx
including 1110.7 1111.1 0.4 11.9
1114.3 1116.9 2.6 6.47   TLX_3170 Triple Lynx
including 1115.1 1115.6 0.5 16.0
1122.0 1124.0 2.0 12.3   TLX_3170 Triple Lynx
including 1123.0 1123.5 0.5 26.1
1126.3 1133.0 6.7 9.09   TLX_3170 Triple Lynx
including 1126.6 1127.0 0.4 28.0
and 1129.0 1130.0 1.0 24.7
OSK-W-21-2275-W7 793.0 795.2 2.2 13.2   TLX_3171 Triple Lynx
including 794.2 794.5 0.3 37.1
OSK-W-21-2363-W5 700.0 702.0 2.0 3.67   TLX_3177 Triple Lynx
including 700.6 701.4 0.8 9.11
760.0 762.0 2.0 5.15   TLX_3171 Triple Lynx
including 760.5 761.0 0.5 19.7
OSK-W-21-2478-W5 880.8 883.5 2.7 6.94   TLX_3184 Triple Lynx
including 880.8 881.1 0.3 38.8
984.0 986.0 2.0 11.3   TLX_3193 Triple Lynx
including 985.0 985.3 0.3 71.4
OSK-W-21-2479-W5 956.2 958.5 2.3 14.2   UDD_4910 Underdog
including 956.2 956.5 0.3 38.4
964.1 966.3 2.2 5.69   UDD_4514 Underdog
including 965.7 966.3 0.6 20.2
OSK-W-21-2492-W4 886.0 888.0 2.0 4.55   LX4_3417 Lynx 4
OSK-W-21-2495-W1 652.2 654.5 2.3 4.20   LXM_3304 Lynx
including 652.2 652.7 0.5 12.3
OSK-W-21-2503-W1 978.0 982.0 4.0 49.9 45.2 TLX_3163 Triple Lynx
including 978.4 979.1 0.7 127 100
1002.9 1005.0 2.1 5.90   TLX_3164 Triple Lynx
including 1004.6 1005.0 0.4 26.8
OSK-W-21-2503-W2 995.0 997.0 2.0 5.99   TLX_3163 Triple Lynx
  1025.8 1028.0 2.2 9.54   TLX_3164 Triple Lynx
  1080.0 1082.0 2.0 37.1 18.1 TLX_3162 Triple Lynx
including 1080.7 1081.0 0.3 227 100
1084.4 1088.0 3.6 5.14   TLX_3162 Triple Lynx
including 1084.4 1084.8 0.4 22.5
OSK-W-21-2512 735.8 738.0 2.2 51.9 26.4 UDD_4104 Underdog
including 736.2 736.7 0.5 212 100
OSK-W-21-2512-W1 765.0 767.0 2.0 97.4 50.1 UDD_4104 Underdog
including 766.0 767.0 1.0 195 100
992.8 994.8 2.0 12.2   UDD_4910 Underdog
including 993.9 994.8 0.9 25.7
OSK-W-21-2520 878.0 880.0 2.0 4.05   UDD_4100 Underdog
including 878.9 879.4 0.5 15.3
OSK-W-21-2522 1003.5 1005.9 2.4 69.9 39.8 LX4_3430 Lynx 4
including 1003.9 1004.6 0.7 203 100
OSK-W-21-2528 224.8 227.2 2.4 4.90   Caribou_2100 Caribou
OSK-W-21-2531 619.7 621.9 2.2 4.64   Caribou_2233 Caribou
including 621.5 621.9 0.4 22.1
OSK-W-21-2532 512.0 514.0 2.0 10.6   Caribou_2241 Caribou
including 512.0 512.4 0.4 40.5
WST-21-0759 127.9 130.0 2.1 10.5   LXM_3334 Lynx
337.0 341.6 4.6 6.33   TLX_3167 Triple Lynx
including 340.7 341.2 0.5 13.5
  588.0 590.1 2.1 25.6   LX4_3427 Lynx 4
  663.5 665.5 2.0 34.9 25.7 LX4_3438 Lynx 4
including 665.0 665.5 0.5 137 100
WST-21-0770 529.4 531.4 2.0 7.80   LX4_3430 Lynx 4
WST-21-0791 97.9 101.6 3.7 4.57   LXM_3313 Lynx
163.0 165.0 2.0 13.3   LXM_3304 Lynx
including 163.0 163.9 0.9 29.2
167.5 169.8 2.3 14.8   LXM_3304 Lynx
including 169.3 169.8 0.5 42.0
298.8 301.2 2.4 4.80   LHW_3215 Lynx HW
including 299.6 300.3 0.7 16.0
WST-21-0792 169.5 172.0 2.5 5.69   LXM_3304 Lynx
including 169.5 170.3 0.8 11.8
296.1 298.3 2.2 23.2   LHW_3215 Lynx HW
including 296.1 297.1 1.0 48.8
WST-21-0793A 167.0 169.0 2.0 7.65   LXM_3304 Lynx
including 167.3 167.7 0.4 28.5
240.6 242.6 2.0 4.99   LHW_3221 Lynx HW
including 241.5 242.3 0.8 11.4
WST-21-0794 282.0 284.0 2.0 6.73   LHW_3215 Lynx HW
  290.0 292.0 2.0 4.11   LHW_3215 Lynx HW
including 291.3 291.7 0.4 19.9
WST-21-0797A 125.6 127.6 2.0 45.5 23.9 LXM_3334 Lynx
including 126.3 126.7 0.4 208 100
335.3 341.4 6.1 15.5   TLX_3131 Triple Lynx
including 339.3 340.3 1.0 35.5
350.6 354.7 4.1 28.7 25.2 TLX_3167 Triple Lynx
including 353.8 354.2 0.4 136 100
357.0 359.0 2.0 4.51   TLX_3167 Triple Lynx
WST-21-0801 287.3 289.9 2.6 21.3   Lynx SW Lynx SW
WST-21-0807 325.4 327.8 2.4 3.74   TLX_3167 Triple Lynx
480.8 483.0 2.2 25.1   LX4_3450 Lynx 4
including 481.8 482.5 0.7 72.1
WST-21-0816 69.0 71.4 2.4 4.88   Z27_1115 Zone 27
WST-21-0818 67.7 69.9 2.2 5.79   Z27_1115 Zone 27
WST-21-0822 62.4 64.4 2.0 6.39   Z27_1102 Zone 27
117.6 119.8 2.2 16.2 14.2 Z27 Zone 27
including 118.5 118.8 0.3 114 100
WST-21-0824 261.6 263.8 2.2 96.7 27.1 TLX_3161 Triple Lynx
including 262.3 262.8 0.5 406 100
273.8 279.0 5.2 29.3   TLX_3161 Triple Lynx
including 275.0 276.0 1.0 89.0
283.5 285.5 2.0 3.59   TLX_3161 Triple Lynx
WST-21-0829 149.0 152.1 3.1 5.66   LXM_3334 Lynx
WST-21-0838 344.0 346.0 2.0 4.30   LSW_3556 Lynx SW

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. Z27 = Zone 27, LSW = Lynx Southwest, LXM = Lynx Main, LX4 = Lynx 4, LHW = Lynx Hanging Wall, TLX = Triple Lynx and UDD = Underdog.

 

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-21-1432-W3 950.0 952.5 2.5 37.5 32.7 Lynx 4 Lynx
including 951.0 951.5 0.5 124 100
OSK-W-21-1827-W4 1024.3 1026.5 2.2 4.14   Underdog Underdog
including 1024.3 1024.6 0.3 20.0
OSK-W-21-2067-W8 996.0 999.0 3.0 4.34   Triple Lynx Triple Lynx
OSK-W-21-2123-W5 1220.0 1222.0 2.0 5.99   Triple Lynx Triple Lynx
including 1220.0 1220.5 0.5 20.2
  1233.0 1235.0 2.0 4.61   Triple Lynx Triple Lynx
  1293.3 1295.7 2.4 9.77   Triple Lynx Triple Lynx
including 1294.7 1295.7 1.0 19.8
OSK-W-21-2123-W6 1091.0 1093.0 2.0 6.76   Triple Lynx Triple Lynx
  1144.0 1146.0 2.0 3.78   Triple Lynx Triple Lynx
  1176.0 1178.0 2.0 6.57   Triple Lynx Triple Lynx
including 1177.3 1177.6 0.3 43.2
OSK-W-21-2275-W7 766.9 769.0 2.1 3.55   Triple Lynx Triple Lynx
including 766.9 767.2 0.3 24.5
782.5 785.0 2.5 5.95   Triple Lynx Triple Lynx
including 783.1 783.6 0.5 14.1
and 784.5 785.0 0.5 14.6
862.0 864.0 2.0 5.04   Triple Lynx Triple Lynx
including 862.5 862.9 0.4 13.4
and 863.7 864.0 0.3 12.6
1113.4 1115.6 2.2 9.82   Triple Lynx Triple Lynx
OSK-W-21-2287-W2 1259.0 1261.0 2.0 4.68   Lynx 4 Lynx
OSK-W-21-2470-W5 1166.0 1168.2 2.2 7.34   Triple Lynx Triple Lynx
including 1166.5 1167.6 1.1 14.6
OSK-W-21-2479-W5 475.0 477.0 2.0 3.79   Z27 Zone 27
842.0 844.0 2.0 8.61   Underdog Underdog
including 842.5 843.3 0.8 21.4
OSK-W-21-2503-W2 981.0 983.1 2.1 4.27   Triple Lynx Triple Lynx
1040.0 1042.0 2.0 3.83   Triple Lynx Triple Lynx
OSK-W-21-2512-W1 1009.0 1011.0 2.0 43.0 24.6 Underdog Underdog
including 1009.6 1010.0 0.4 192 100
OSK-W-21-2522-W1 849.0 851.0 2.0 3.76   Lynx Lynx
OSK-W-21-2528 283.0 285.0 2.0 4.97   Caribou Caribou
including 284.3 285.0 0.7 13.4
526.0 528.0 2.0 3.85   Z27 Zone 27
OSK-W-21-2533 252.0 254.0 2.0 5.39   F51 F51
WST-21-0682B 400.0 403.8 3.8 11.9   Lynx SW Lynx SW
WST-21-0724 264.6 266.7 2.1 3.98   Triple Lynx Triple Lynx
including 266.2 266.7 0.5 16.6
WST-21-0726 431.5 433.7 2.2 3.97   Triple Lynx Triple Lynx
including 432.3 432.7 0.4 19.3
WST-21-0770 545.4 547.5 2.1 6.94   Lynx 4 Lynx
including 546.4 546.9 0.5 18.5
WST-21-0791 237.9 240.0 2.1 67.0 23.9 Lynx HW Lynx
including 237.9 238.4 0.5 281 100
WST-21-0793A 235.5 237.6 2.1 3.71   Lynx HW Lynx
including 236.4 237.3 0.9 7.71
WST-21-0797A 182.9 185.5 2.6 4.04   Lynx Lynx
380.2 382.4 2.2 35.9 24.2 Triple Lynx Triple Lynx
including 382.1 382.4 0.3 186 100
WST-21-0829 359.6 363.0 3.4 6.81   Triple Lynx Triple Lynx
including 362.0 363.0 1.0 15.5

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest, HW = Hanging Wall, Z27 = Zone 27.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-1432-W3 132 -55 1094 453811 5435779 400 4300
OSK-W-21-1827-W4 331 -58 1046 452506 5434390 403 2475
OSK-W-21-1827-W5 331 -58 1164 452506 5434390 403 2475
OSK-W-21-1882-W4 328 -58 1074 452469 5434405 400 2450
OSK-W-21-2067-W8 123 -53 1191 453241 5435697 416 3750
OSK-W-21-2067-W9 123 -53 1164 453241 5435697 416 3750
OSK-W-21-2123-W5 126 -57 1332 453235 5435774 409 3800
OSK-W-21-2123-W6 126 -57 1346 453235 5435774 409 3800
OSK-W-21-2275-W7 127 -49 1182 452888 5435583 409 3400
OSK-W-21-2287-W2 116 -53 1392 453607 5435714 404 4075
OSK-W-21-2363-W5 139 -52 1014 452930 5435548 419 3425
OSK-W-21-2470-W5 132 -59 1203 453304 5435639 415 3775
OSK-W-21-2478-W5 128 -54 1166 452997 5435607 425 3500
OSK-W-21-2479-W5 344 -55 978 452315 5434419 399 2325
OSK-W-21-2492-W4 122 -53 945 453687 5435676 401 4125
OSK-W-21-2495-W1 123 -54 1301 453426 5435565 410 3850
OSK-W-21-2503-W1 126 -58 1161 453333 5435641 413 3800
OSK-W-21-2503-W2 126 -58 1199 453333 5435641 413 3800
OSK-W-21-2512 331 -54 1041 452448 5434465 400 2475
OSK-W-21-2512-W1 331 -54 1089 452448 5434465 400 2475
OSK-W-21-2520 337 -56 1140 452596 5434392 401 2550
OSK-W-21-2522 128 -54 1221 453451 5435594 411 3900
OSK-W-21-2522-W1 128 -54 1116 453451 5435594 411 3900
OSK-W-21-2528 333 -54 738 452469 5434682 403 2600
OSK-W-21-2531 344 -62 1188 452566 5434415 403 2550
OSK-W-21-2532 341 -60 1107 452480 5434428 401 2475
OSK-W-21-2533 159 -45 321 453476 5436035 405 4125
WST-21-0682B 129 -64 472 453106 5435066 231 3325
WST-21-0724 131 -64 295 453508 5435327 -7 3800
WST-21-0726 149 -64 454 453507 5435327 -7 3800
WST-21-0759 141 -43 680 453321 5435235 54 3600
WST-21-0770 129 -43 835 453374 5435296 -26 3675
WST-21-0791 129 -21 355 453463 5435327 32 3775
WST-21-0792 126 -20 346 453463 5435327 32 3775
WST-21-0793A 127 -16 322 453463 5435327 33 3775
WST-21-0794 121 -11 315 453463 5435327 33 3775
WST-21-0797A 138 -46 751 453321 5435235 54 3600
WST-21-0801 139 -54 418 452954 5435003 253 3175
WST-21-0807 144 -42 508 453321 5435235 54 3600
WST-21-0816 164 -4 109 451960 5434734 250 2175
WST-21-0818 167 1 106 451958 5434734 250 2175
WST-21-0822 129 29 124 451961 5434734 251 2175
WST-21-0824 156 -70 343 453506 5435327 -7 3800
WST-21-0829 131 -49 576 453258 5435209 96 3525
WST-21-0838 131 -56 366 453106 5435066 231 3325

 

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.

Underdog

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

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

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

 

Long Section In EN 20210720

Long Section Ex EN 20210720

PR_EN_20210717_Surface

PR_EN_20210717_UG

OSISKO MINING INC. FILES EARLY WARNING REPORT

IN RESPECT OF O3 MINING INC.

Toronto, Ontario (July 14, 2021) – Osisko Mining Inc. (TSX:OSK) (the “Corporation“) announces that it has filed an early warning report in respect of its holdings in O3 Mining Inc. (“O3 Mining“). After giving effect to four trades ending on July 13, 2021, which settled through the facilities of the TSX Venture Exchange, the Corporation acquired an aggregate of 83,400 common shares of O3 Mining (“O3 Shares“), representing approximately 0.12% of the issued and outstanding O3 Shares, for aggregate gross proceeds of $185,309.72 (collectively, the “Acquisitions“).

At the time of the prior early warning report filed by the Corporation in respect of O3 Mining on August 17, 2020 (the “Prior Report“), the Corporation had beneficial ownership of, or control and direction over, 18,277,898 O3 Shares, representing approximately 30.3% of the issued and outstanding O3 Shares on a basic basis (based on there being 60,296,508 O3 Shares issued and outstanding as of the date of the Prior Report).

Since the date of the Prior Report and prior to giving effect to the Acquisitions, O3 Mining issued an aggregate of 7,743,758 O3 Shares, which through no action on the part of the Corporation, resulted in the Corporation’s ownership in O3 Shares being diluted to approximately 26.9% of the issued and outstanding O3 Shares on a basic basis (based on there being 68,040,266 O3 Shares issued and outstanding as of the date hereof and Osisko holding 18,277,898 O3 Shares (as disclosed in the Prior Report)).

Immediately after giving effect to the Acquisitions, Osisko had beneficial ownership of, or control and direction over, 18,361,298 O3 Shares, representing approximately 27.0% of the issued and outstanding O3 Shares on a basic basis (based on there being 68,040,266 O3 Shares issued and outstanding as of the date hereof).

The Corporation acquired the O3 Shares for investment purposes. The Corporation intends to review, on a continuous basis, various factors related to its investment in O3 Mining, and may decide to acquire or dispose of additional securities of O3 Mining as future circumstances may dictate.

This news release is being issued in accordance with National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues in connection with the filing of an early warning report dated July 14, 2021. The early warning report respecting the Acquisitions has been filed on SEDAR (www.sedar.com) under O3 Mining’s issuer profile. To obtain a copy of the early warning report filed by the Corporation, please contact John Burzynski at (416) 363-8653 or refer to SEDAR (www.sedar.com) under O3 Mining’s issuer profile.

 

For further information on the Corporation please contact:

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

The Corporation’s head office is located at 155 University Avenue, Suite 1440, Toronto, Ontario M5H 3B7.

OSISKO WINDFALL INFILL AND EXPANSION DRILLING CONTINUES TO ADD HIGH-GRADE

75.4 g/t Au Over 3.2 Metres in Triple Lynx

103 g/t Au Over 2.3 Metres and 105 g/t Au Over 2.0 Metres in Lynx

(Toronto, July 07, 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 60 intercepts in 20 drill holes (5 from surface, 15 from underground) and 12 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Infill and expansion drilling from across the Windfall deposit continues to progress well. In particular, the focused infill drilling in all the Lynx zones consistently returns well distributed high-grade and expansion drilling is adding ounces. WST-21-0810 and OSK-W-21-2123-W5 both extended Triple Lynx wireframes, 25 metres and 40 meters at depth, respectively.”

Selected high-grade intercepts include: 75.4 g/t Au over 3.2 metres and 86.9 g/t Au over 2.4 metres  in OSK-W-21-2470-W4; 103 g/t Au over 2.3 metres in WST-21-0722; 105 g/t Au over 2.0 metres in WST-21-0716; 29.5 g/t Au over 6.0 metres in OSK-W-21-2067-W8; 87.1 g/t Au over 2.0 metres in OSK-W-21-2067-W7; 42.3 g/t Au over 3.0 metres in OSK-W-21-1882-W3; 60.6 g/t Au over 2.0 metres in WST-21-0721 and 30.7 g/t Au over 3.9 metres in WST-21-0682B. 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-21-1882-W3 829.3 832.3 3.0 42.3   UDD_4102 Underdog
including 831.3 832.3 1.0 85.2  
  936.0 938.0 2.0 4.12   UDD_4511 Underdog
including 936.0 936.5 0.5 16.3  
OSK-W-21-2067-W7 1136.0 1138.0 2.0 87.1 20.1 TLX_3172 Triple Lynx
including 1136.8 1137.2 0.4 435 100
OSK-W-21-2067-W8 1112.0 1118.0 6.0 29.5 20.1 TLX_3170 Triple Lynx
including 1115.4 1116.1 0.7 181 100
OSK-W-21-2275-W7 675.0 677.0 2.0 4.70   TLX_3196 Triple Lynx
including 675.4 676.0 0.6 14.6  
OSK-W-21-2470-W4 956.0 958.0 2.0 3.85   TLX_3163 Triple Lynx
  961.6 964.0 2.4 86.9 35.3 TLX_3163 Triple Lynx
including 962.0 962.8 0.8 255 100
  987.8 991.0 3.2 75.4 45.6 TLX_3164 Triple Lynx
including 987.8 988.5 0.7 236 100
OSK-W-21-2478-W5 860.0 862.1 2.1 16.7   TLX_3184 Triple Lynx
including 860.7 861.7 1.0 34.1  
OSK-W-21-2479-W4 651.3 653.3 2.0 41.5 40.3 UDD_4100 Underdog
including 653.0 653.3 0.3 108 100
OSK-W-21-2503-W1 1022.8 1024.8 2.0 9.75   TLX_3164 Triple Lynx
including 1024.2 1024.8 0.6 25.6  
OSK-W-21-2520 639.0 643.2 4.2 9.87   CA2_2206 Caribou
including 639.0 639.3 0.3 64.6  
and 642.5 643.2 0.7 26.3  
OSK-W-21-2522-W1 655.2 657.3 2.1 10.0   LXM_3304 Lynx
including 656.2 656.6 0.4 41.6  
  747.1 749.4 2.3 4.58   LXM_3345 Lynx
including 747.8 748.4 0.6 17.1  
OSK-W-21-2523 503.5 507.7 4.2 4.27   CA2_2247 Caribou
including 503.5 504.0 0.5 13.1  
  511.0 513.1 2.1 3.61   CA2_2241 Caribou
  522.7 529.0 6.3 8.53   CA2_2233 Caribou
including 528.4 529.0 0.6 39.7  
OSK-W-21-2532 452.0 454.0 2.0 24.7   Caribou_2232 Caribou
including 453.0 454.0 1.0 49.0  
OSK-W-21-2534 558.4 560.6 2.2 9.81   Caribou_2247 Caribou
WST-21-0682A 89.8 92.0 2.2 19.8   LXM_3339 Lynx
including 90.1 91.0 0.9 47.7  
WST-21-0682B 105.5 107.6 2.1 6.82   LXM_3311 Lynx
including 106.9 107.3 0.4 25.7  
  349.0 352.0 3.0 32.7 29.9 TLX_3166 Triple Lynx
including 349.0 349.3 0.3 128 100
  357.6 361.5 3.9 30.7   TLX_3166 Triple Lynx
including 358.0 358.6 0.6 68.0  
and 360.8 361.5 0.7 78.0  
  363.5 365.7 2.2 5.78   TLX_3166 Triple Lynx
  456.0 458.0 2.0 24.5   TLX_3130 Triple Lynx
including 456.0 456.6 0.6 74.6  
WST-21-0716 26.5 28.5 2.0 22.1   LXM_3303 Lynx
including 27.1 28.0 0.9 47.4  
  81.0 83.0 2.0 105 33.1 LXM_3304 Lynx
including 81.4 82.0 0.6 339 100
  87.0 89.0 2.0 17.7   LXM_3304 Lynx
including 87.0 87.7 0.7 50.4  
WST-21-0720 80.2 82.5 2.3 8.25   LXM_3336 Lynx
including 80.8 81.3 0.5 35.9  
  92.3 94.7 2.4 8.99   LXM_3304 Lynx
WST-21-0721 92.0 94.0 2.0 60.6 60.2 LXM_3304 Lynx
including 92.4 93.6 1.2 101 100
WST-21-0722 25.3 27.6 2.3 103 25.2 LXM_3303 Lynx
including 26.5 27.0 0.5 459 100
WST-21-0759 325.1 327.2 2.1 3.96   TLX_3131 Triple Lynx
WST-21-0778 313.4 315.7 2.3 5.23   TLX_3131 Triple Lynx
including 314.4 315.0 0.6 18.0  
  511.0 513.0 2.0 28.3   LX4_3429 Lynx 4
including 512.0 513.0 1.0 51.5  
WST-21-0789B 325.6 327.9 2.3 8.20   TLX_3166 Triple Lynx
including 325.9 326.8 0.9 17.0  
WST-21-0801 306.5 308.6 2.1 11.5   LSW_3556 Lynx Southwest
including 307.0 307.7 0.7 33.7  
WST-21-0810 344.0 346.0 2.0 4.77   TLX_3131 Triple Lynx
  373.0 376.0 3.0 5.08   TLX_3167 Triple Lynx
  531.0 533.0 2.0 33.8 25.2 LX4_3450 Lynx 4
including 532.1 532.6 0.5 135 100
  736.8 738.9 2.1 22.2   LX4_3412 Lynx 4
including 737.6 737.9 0.3 78.9  
WST-21-0815 81.0 83.0 2.0 4.09   Z27_1102 Zone 27
WST-21-0819A 79.0 81.0 2.0 3.89   Z27_1115 Zone 27
including 80.1 81.0 0.9 8.45  
WST-21-0820 92.5 95.0 2.5 3.56   Z27_1102 Zone 27
WST-21-0827 247.7 250.0 2.3 13.4   TLX_3161 Triple Lynx

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. Z27 = Zone 27, CA2 = Caribou 2, LSW = Lynx Southwest, LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx, and UDD = Underdog.

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-21-2123-W5 1154.6 1159.0 4.4 16.6   Triple Lynx Lynx
including 1154.6 1155.0 0.4 42.9  
and 1156.0 1156.4 0.4 61.4  
and 1157.6 1158.0 0.4 41.9  
  1203.0 1205.0 2.0 5.59   Triple Lynx Lynx
including 1203.8 1204.1 0.3 13.3  
  1209.0 1211.0 2.0 4.32   Triple Lynx Lynx
OSK-W-21-2470-W3 956.8 958.8 2.0 45.7 30.6 Triple Lynx Lynx
including 957.3 957.9 0.6 151 100
  989.8 991.8 2.0 16.2   Triple Lynx Lynx
including 991.2 991.5 0.3 80.1  
OSK-W-21-2479-W4 426.0 428.0 2.0 19.2   Zone 27 Main Zone
including 427.3 428.0 0.7 49.9  
OSK-W-21-2480-W3 731.5 733.5 2.0 26.4   Lynx Lynx
including 732.5 733.5 1.0 51.8  
OSK-W-21-2523 409.5 412.0 2.5 7.42   Caribou Main Zone
including 409.5 410.3 0.8 16.2  
OSK-W-21-2540 824.5 826.5 2.0 4.94   Lynx Main Lynx
including 825.9 826.5 0.6 15.8  
WST-21-0682B 375.0 377.0 2.0 4.08   Lynx SW Lynx
  384.0 386.1 2.1 5.90   Lynx SW Lynx
including 385.6 386.1 0.5 24.2  
WST-21-0759 29.7 32.0 2.3 6.83   Lynx Main Lynx
WST-21-0778 323.0 325.0 2.0 10.7   Triple Lynx Lynx
including 323.3 323.6 0.3 69.0  
WST-21-0789B 371.0 373.0 2.0 4.42   Triple Lynx Lynx
including 372.6 373.0 0.4 19.3  
WST-21-0810 450.2 453.0 2.8 25.2   Triple Lynx Lynx
including 452.5 453.0 0.5 96.7  

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-21-1882-W3 328 -58 1004 452469 5434405 400 2450
OSK-W-21-2067-W7 123 -53 1166 453241 5435697 416 3750
OSK-W-21-2067-W8 123 -53 1191 453241 5435697 416 3750
OSK-W-21-2123-W5 126 -57 1332 453235 5435774 409 3800
OSK-W-21-2275-W7 127 -49 1182 452888 5435583 409 3400
OSK-W-21-2470-W3 132 -59 1209 453304 5435639 415 3775
OSK-W-21-2470-W4 132 -59 1155 453304 5435639 415 3775
OSK-W-21-2478-W5 128 -54 1166 452997 5435607 425 3500
OSK-W-21-2479-W4 344 -55 761 452315 5434419 399 2325
OSK-W-21-2480-W3 121 -55 810 453412 5435633 412 3875
OSK-W-21-2503-W1 126 -58 1161 453333 5435641 413 3800
OSK-W-21-2520 337 -56 1140 452596 5434392 401 2550
OSK-W-21-2522-W1 128 -54 1116 453451 5435594 411 3900
OSK-W-21-2523 340 -58 1107 452480 5434428 402 2475
OSK-W-21-2532 341 -60 1107 452480 5434428 401 2475
OSK-W-21-2534 343 -59 1203 452549 5434363 401 2500
OSK-W-21-2540 117 -60 1025 453465 5435640 410 3925
WST-21-0682A 133 -66 139 453106 5435066 231 3325
WST-21-0682B 129 -64 472 453106 5435066 231 3325
WST-21-0716 160 -3 97 453359 5435194 83 3625
WST-21-0720 162 2 103 453359 5435194 84 3625
WST-21-0721 166 -1 103 453359 5435194 83 3625
WST-21-0722 166 1 106 453359 5435194 84 3625
WST-21-0759 141 -43 680 453321 5435235 54 3600
WST-21-0778 145 -31 534 453374 5435296 -26 3675
WST-21-0789B 125 -55 381 453106 5435066 231 3325
WST-21-0801 139 -54 418 452954 5435003 253 3175
WST-21-0810 138 -47 765 453257 5435209 96 3525
WST-21-0815 159 0 99 451960 5434734 250 2175
WST-21-0819A 173 -2 100 451957 5434735 250 2175
WST-21-0820 179 18 115 451957 5434735 250 2175
WST-21-0827 145 -66 313 453507 5435327 -7 3800

 

Caribou Zone

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

 

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.

Underdog

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

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

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 RELEASES 2020 SUSTAINABLE DEVELOPMENT REPORT

(Toronto, July 06, 2021) Osisko Mining Inc. (OSK:TSX “Osisko” or the “Corporation”), is pleased to announce that it has published its 2020 Sustainable Development report which provides a detailed overview of the Company’s environmental, social, and governance (ESG) performance and economic contributions to the communities in which we operate. The report is available on the Osisko website www.osiskomining.com in English and French.

In 2020, Osisko Mining worked to responsibly manage the effects of the COVID-19 pandemic; our top focus was keeping our workers and communities healthy and safe. We continued to deliver on our commitment of being a good corporate citizen by engaging with stakeholders, concentrating on environmental stewardship, and being an economic stimulus for our host communities.

We strengthened our policies covering Health & Safety, Human Resources, Environment and Community Relations. We lowered our lost time incident frequency rate (LTIFR) by 20% and have maintained a safe work environment for our employees and contractors at Windfall since we started exploration activities in 2015. We continue to minimize our effect on the environment through rigorous water, waste and spill management, land reclamation and advance closure planning.

The report covers Osisko Mining Inc. activities on our Windfall, Quévillon, and Urban Barry projects. It describes our ESG performance from January 1 to December 31, 2020 and gives comparative data from previous years.

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 MINING-2020 SD REPORT-EN-LR

OSISKO WINDFALL INFILL AND EXPANSION DRILLING ADDS HIGH-GRADE

232 g/t Au Over 2.0 Metres

195 g/t Au over 2.3 Metres

(Toronto, June 29, 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 60 intercepts in 16 drill holes (8 from surface, 8 from underground) and 13 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

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

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

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-17-777 821.0 823.4 2.4 3.91   UDD_4116 Underdog
1075.0 1077.0 2.0 11.1   UDD_4915 Underdog
including 1075.9 1076.2 0.3 67.3  
OSK-W-17-838 674.0 676.0 2.0 8.27   Caribou_2558 Caribou
including 674.9 675.3 0.4 40.7  
OSK-W-20-2280-W8 996.0 998.3 2.3 31.4 30.2 TLX_3163 Triple Lynx
including 997.2 997.7 0.5 106 100
OSK-W-21-1827-W3 796.0 798.0 2.0 6.31   UDD_4121 Underdog
including 796.9 797.3 0.4 27.0  
OSK-W-21-1882-W3 809.7 812.0 2.3 3.63   UDD_4100 Underdog
including 810.7 811.0 0.3 26.8  
OSK-W-21-2067-W8 1029.0 1031.2 2.2 9.66   TLX_3183 Triple Lynx
1053.0 1055.0 2.0 20.8   TLX_3163 Triple Lynx
1087.0 1089.0 2.0 12.8   TLX_3162 Triple Lynx
1103.0 1105.0 2.0 7.17   TLX_3170 Triple Lynx
including 1104.0 1104.3 0.3 37.4  
1126.0 1128.0 2.0 4.11   TLX_3172 Triple Lynx
OSK-W-21-2275-W6 812.0 814.1 2.1 17.0 15.5 TLX_3184 Triple Lynx
including 813.5 813.8 0.3 111 100
OSK-W-21-2470-W4 967.0 969.0 2.0 15.5   TLX_3163 Triple Lynx
OSK-W-21-2478-W3 862.5 864.7 2.2 148 76.9 TLX_3171 Triple Lynx
including 863.4 864.3 0.9 252 100
875.1 877.2 2.1 14.4   TLX_3184 Triple Lynx
including 875.1 875.4 0.3 91.2  
OSK-W-21-2479-W3 891.0 893.4 2.4 8.36   UDD_4501 Underdog
including 892.0 892.7 0.7 23.6  
OSK-W-21-2479-W4 662.9 665.0 2.1 9.62   UDD_4102 Underdog
including 664.0 664.6 0.6 24.1  
  678.0 680.0 2.0 19.5   UDD_4102 Underdog
including 679.0 679.6 0.6 46.6  
755.0 757.0 2.0 6.31   UDD_4107 Underdog
OSK-W-21-2512 759.6 761.7 2.1 20.9   UDD_4106 Underdog
including 759.6 760.5 0.9 47.3  
  781.0 783.0 2.0 22.2   UDD_4106 Underdog
including 781.8 782.4 0.6 72.1  
  862.0 864.3 2.3 6.75   UDD_4905 Underdog
including 864.0 864.3 0.3 23.8  
OSK-W-21-2512-W1 667.0 671.7 4.7 12.1   UDD_4116 Underdog
including 668.2 668.5 0.3 64.3  
673.0 675.0 2.0 4.19   UDD_4116 Underdog
including 674.6 675.0 0.4 18.0  
697.0 699.0 2.0 3.85   UDD_4100 Underdog
OSK-W-21-2520 535.8 538.0 2.2 52.3 24.8 Caribou_2232 Caribou
including 537.5 538.0 0.5 221 100
541.0 543.0 2.0 5.92   Caribou_2232 Caribou
including 542.5 543.0 0.5 19.0  
  611.0 613.0 2.0 12.9   Caribou_2233 Caribou
including 611.6 612.2 0.6 39.3  
  653.0 655.0 2.0 25.0   Caribou_2206 Caribou
including 654.0 655.0 1.0 49.9  
OSK-W-21-2522 654.0 656.0 2.0 3.88   LXM_3304 Lynx
746.3 748.3 2.0 232 37.2 LXM_3345 Lynx
including 747.6 748.0 0.4 1075 100
OSK-W-21-2523 992.0 994.0 2.0 11.7   UDD_4501 Underdog
including 993.0 994.0 1.0 23.3  
OSK-W-21-2526 248.3 253.3 5.0 24.2   F51_6008 F-51
including 248.3 249.2 0.9 63.5  
OSK-W-21-2534 538.3 540.4 2.1 17.5   Caribou_2211 Caribou
including 538.3 538.7 0.4 53.0  
543.0 545.4 2.4 25.9 21.6 Caribou_2211 Caribou
including 543.0 543.5 0.5 121 100
WST-21-0682B 116.0 118.0 2.0 6.21   LXM_3311 Lynx
WST-21-0725 238.6 240.8 2.2 186 56.9 TLX_3161 Triple Lynx
including 239.0 239.8 0.8 400 100
292.0 294.2 2.2 8.13   TLX_3163 Triple Lynx
including 293.6 294.2 0.6 26.8  
WST-21-0727A 328.0 330.1 2.1 18.6 17.5 TLX_3163 Triple Lynx
including 328.4 328.7 0.3 108 100
WST-21-0775 429.5 431.5 2.0 4.21   TLX_3165 Triple Lynx
WST-21-0790 283.0 285.1 2.1 12.9   LXSW_3500 Lynx SW
including 283.4 283.7 0.3 87.9  
WST-21-0824 304.9 307.5 2.6 11.4   TLX_3185 Triple Lynx
  314.4 318.0 3.6 4.79   TLX_3163 Triple Lynx

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

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-21-777-W1 377.6 381.6 4.0 8.48   Caribou Caribou
including 377.6 377.9 0.3 46.2  
442.4 444.7 2.3 180 33.5 Caribou Caribou
including 444.3 444.7 0.4 942 100
OSK-W-21-2067-W8 1080.0 1082.0 2.0 4.39   Triple Lynx Triple Lynx
OSK-W-21-2470-W3 1151.0 1153.3 2.3 195 15.9 Triple Lynx Triple Lynx
including 1152.4 1152.7 0.3 1470 100
OSK-W-21-2478-W3 1055.0 1057.0 2.0 16.4   Triple Lynx Triple Lynx
including 1056.5 1057.0 0.5 64.1  
OSK-W-21-2479-W3 624.7 627.0 2.3 11.6   UDD_4100 Underdog
including 625.1 625.5 0.4 61.4  
OSK-W-21-2487-W5 691.5 693.5 2.0 14.8   Lynx 4 Lynx
OSK-W-21-2522 944.3 946.7 2.4 3.90   Lynx 4 Lynx
including 946.2 946.7 0.5 11.1  
OSK-W-21-2523 958.0 960.0 2.0 3.80   Underdog Underdog
  1057.0 1059.0 2.0 7.28   Underdog Underdog
  1069.0 1071.0 2.0 6.76   Underdog Underdog
including 1069.8 1070.5 0.7 19.2  
WST-21-0706 215.0 217.5 2.5 7.45   Lynx SW Lynx SW
including 215.9 216.5 0.6 24.6  
WST-21-0725 313.5 315.5 2.0 24.1   Triple Lynx Triple Lynx
including 313.5 314.5 1.0 47.8  
326.0 328.0 2.0 11.6   Triple Lynx Triple Lynx
including 327.0 328.0 1.0 22.8  
WST-21-0734A 259.1 267.3 8.2 16.0 12.3 Lynx SW Lynx SW
including 266.0 266.5 0.5 161 100
WST-21-0775 211.0 213.0 2.0 14.1   Triple Lynx Triple Lynx
WST-21-0790 327.0 329.3 2.3 7.41   Lynx SW Lynx SW
including 327.9 328.2 0.3 54.3  

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

 

Drill hole location

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

 

Caribou Zone

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

F-Zones

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

Underdog

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

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The Mineral Resource Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

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 INFILL AND EXPANSION DRILLING ADDS HIGH-GRADE

385 g/t Au Over 2.1 Metres

45.5 g/t Au over 4.1 Metres

(Toronto, June 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 94 intercepts in 30 drill holes (15 from surface, 14 from underground) and 25 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “This week’s results from both infill and expansion drilling again report high-grade numbers from across the Windfall deposit. Windfall is performing consistently and continuously as we move into the final stretch of resource-oriented drilling.”

Selected high-grade intercepts include: 385 g/t Au over 2.1 metres in OSK-W-21-2492-W2; 45.5 g/t Au over 4.1 metres in OSK-W-21-777-W1; 28.8 g/t Au over 4.3 metres in WST-21-0789B; 45.8 g/t Au over 2.5 metres and 26.0 g/t Au over 3.8 metres in OSK-W-21-2505; 46.6 g/t Au over 2.4 metres in WST-20-0318; and 21.3 g/t Au over 4.8 metres in OSK-W-20-2397-W1. 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-19-1827-W1 1004.8 1007.0 2.2 13.8   UDD_4510 Underdog
OSK-W-20-2275-W2 949.0 951.0 2.0 12.5   TLX_3199 Triple Lynx
OSK-W-20-2292-W2 830.0 832.0 2.0 4.89   TLX_3161 Triple Lynx
OSK-W-20-2313-W10 625.7 627.7 2.0 4.44   TLX_3178 Triple Lynx
OSK-W-20-2371-W1 556.2 558.4 2.2 8.73   TLX_3184 Triple Lynx
OSK-W-20-2397-W1 666.5 671.3 4.8 21.3 18.3 LXM_3304 Lynx
including 670.4 671.0 0.6 125 100
OSK-W-20-2423 1084.9 1087.0 2.1 7.25   UDD_4911 Underdog
including 1085.6 1086.0 0.4 27.0  
OSK-W-21-777-W1 569.1 573.2 4.1 45.5 30.4 Caribou_2211 Caribou
including 572.8 573.2 0.4 255 100
OSK-W-21-1827-W3 1089.0 1091.0 2.0 5.02   UDD_4513 Underdog
including 1089.0 1089.3 0.3 32.1  
OSK-W-21-1882-W1 800.0 802.2 2.2 28.1   UDD_4100 Underdog
including 801.0 802.2 1.2 46.6  
OSK-W-21-1882-W2 491.0 493.0 2.0 6.77   Caribou_2231 Caribou
OSK-W-21-1882-W3 486.5 491.1 4.6 5.41   Caribou_2231 Caribou
including 490.6 491.1 0.5 26.2  
OSK-W-21-2067-W7 1095.0 1098.4 3.4 16.6 14.0 TLX_3162 Triple Lynx
including 1097.3 1097.6 0.3 130 100
and 1098.1 1098.4 0.3 38.6  
OSK-W-21-2275-W6 800.0 802.0 2.0 10.5   TLX_3171 Triple Lynx
including 800.9 801.5 0.6 28.8  
  820.0 822.1 2.1 3.78   TLX_3184 Triple Lynx
including 821.6 822.1 0.5 13.6  
OSK-W-21-2463-W3 839.6 841.7 2.1 19.0   UDD_4110 Underdog
including 840.2 840.5 0.3 85.0  
  961.4 965.2 3.8 4.80   UDD_4102 Underdog
  977.0 979.0 2.0 8.42   UDD_4102 Underdog
  1116.0 1118.0 2.0 7.52   UDD_4911 Underdog
including 1116.4 1117.1 0.7 20.7  
1140.0 1144.3 4.3 13.0   UDD_4513 Underdog
including 1142.3 1143.0 0.7 26.7  
1191.0 1193.0 2.0 4.46   UDD_4514 Underdog
including 1191.7 1192.1 0.4 20.6  
OSK-W-21-2478-W3 878.2 880.6 2.4 8.64   TLX_3184 Triple Lynx
including 879.0 879.6 0.6 31.6  
OSK-W-21-2479-W1 627.0 629.2 2.2 10.6   UDD_4100 Underdog
including 627.0 627.5 0.5 32.4  
907.9 910.0 2.1 12.8   UDD_4910 Underdog
including 907.9 908.7 0.8 27.4  
OSK-W-21-2479-W3 669.7 672.3 2.6 12.4   UDD_4100 Underdog
including 671.3 672.3 1.0 29.4  
683.0 685.1 2.1 17.1   UDD_4102 Underdog
including 684.5 685.1 0.6 54.0  
693.6 698.0 4.4 14.5   UDD_4104 Underdog
including 694.6 695.0 0.4 33.6  
703.0 705.4 2.4 8.44   UDD_4104 Underdog
including 704.9 705.4 0.5 23.8  
  921.0 923.0 2.0 9.81   UDD_4513 Underdog
  949.2 951.6 2.4 6.45   UDD_4910 Underdog
  960.0 962.0 2.0 5.30   UDD_4910 Underdog
including 960.5 960.9 0.4 25.7  
967.7 971.6 3.9 8.29   UDD_4514 Underdog
including 971.0 971.6 0.6 34.6  
OSK-W-21-2486 814.5 816.8 2.3 9.02   UDD_4121 Underdog
including 815.7 816.0 0.3 20.1  
and 816.5 816.8 0.3 39.6  
1030.0 1032.0 2.0 4.19   UDD_4515 Underdog
including 1030.4 1031.0 0.6 10.8  
1106.0 1108.2 2.2 3.96   UDD_4510 Underdog
including 1107.5 1107.9 0.4 15.9  
OSK-W-21-2487-W4 672.0 674.4 2.4 20.8   LX4_3414 Lynx 4
including 672.6 673.2 0.6 56.2  
OSK-W-21-2487-W5 700.5 702.9 2.4 12.4   LX4_3414 Lynx
including 702.3 702.9 0.6 49.4  
OSK-W-21-2492-W2 783.6 785.7 2.1 385 67.9 LX4_3414 Lynx 4
including 784.3 784.7 0.4 1710 100
OSK-W-21-2499 201.9 204.0 2.1 4.65   F51_6008 F-51
OSK-W-21-2503 1069.0 1071.0 2.0 3.65   TLX_3162 Triple Lynx
1080.0 1082.1 2.1 39.3   TLX_3162 Triple Lynx
including 1080.3 1081.1 0.8 96.5  
OSK-W-21-2505 198.2 202.0 3.8 26.0 24.6 F51_6008 F-51
including 201.0 201.5 0.5 111 100
206.0 208.5 2.5 45.8   F51_6008 F-51
including 208.0 208.5 0.5 97.3  
OSK-W-21-2512 994.5 997.6 3.1 13.5   UDD_4514 Underdog
including 994.5 995.0 0.5 63.7  
and 997.0 997.6 0.6 16.1  
OSK-W-21-2512-W1 430.0 432.0 2.0 7.95   Caribou_2211 Caribou
731.0 733.0 2.0 5.00   UDD_4102 Underdog
including 731.7 732.2 0.5 19.4  
OSK-W-21-2514 548.8 551.0 2.2 22.2   Caribou_2526 Caribou
including 548.8 549.7 0.9 52.3  
OSK-W-21-2518 265.0 267.1 2.1 4.33   F51_6008 F-51
including 265.0 265.4 0.4 22.1  
OSK-W-21-2520 551.0 553.0 2.0 18.1   Caribou_2211 Caribou
including 551.0 551.5 0.5 40.5  
OSK-W-21-2523 880.0 883.0 3.0 15.1   UDD_4107 Underdog
including 882.0 883.0 1.0 33.8  
OSK-W-21-2526 254.8 257.2 2.4 7.74   F51_6008 F-51
including 256.8 257.2 0.4 32.5  
WST-20-0318 70.6 73.0 2.4 46.6   LXM_3311 Lynx
including 71.6 72.6 1.0 100
WST-20-0472 108.0 110.0 2.0 39.4   LXM_3304 Lynx
including 108.0 108.7 0.7 100
WST-21-0642 140.9 143.2 2.3 5.43   Bobcat_2350 Bobcat
including 142.8 143.2 0.4 16.2  
WST-21-0645 92.0 94.0 2.0 3.90   Bobcat_2350 Bobcat
including 92.0 92.6 0.6 12.3  
WST-21-0647 271.0 273.0 2.0 5.55   TLX_3131 Triple Lynx
WST-21-0774 175.0 177.3 2.3 25.1   TLX_3161 Triple Lynx
WST-21-0789B 331.0 333.2 2.2 20.9 15.9 TLX_3166 Triple Lynx
including 332.0 332.3 0.3 137 100
WST-21-0797 127.0 129.1 2.1 38.2 32.1 LXM_3334 Lynx
including 127.9 128.4 0.5 126 100
WST-21-0800 277.6 279.6 2.0 41.0   LXSW_3556 Lynx SW
including 277.6 278.5 0.9 88.5  
309.5 311.6 2.1 3.80   LXSW_3556 Lynx SW
including 310.4 310.8 0.4 11.5  
WST-21-0812 188.8 190.9 2.1 13.5   LXSW_3507 Lynx SW
including 190.1 190.9 0.8 35.0  

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

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2406 489.3 492.0 2.7 3.89   Caribou Caribou
including 490.2 491.0 0.8 12.8  
OSK-W-21-777-W1 817.0 819.1 2.1 3.64   Underdog Underdog
OSK-W-21-777-W2 1014.0 1016.0 2.0 8.54   Underdog Underdog
including 1014.0 1014.7 0.7 23.0  
  1032.9 1035.5 2.6 8.71   Underdog Underdog
including 1035.1 1035.5 0.4 17.7  
OSK-W-21-1882-W1 861.7 863.7 2.0 4.21   Underdog Underdog
including 863.0 863.7 0.7 12.0  
OSK-W-21-2275-W6 830.0 832.0 2.0 6.12   Triple Lynx Triple Lynx
including 830.5 830.8 0.3 38.2  
OSK-W-21-2444 140.7 143.3 2.6 12.9   Caribou Caribou
183.8 186.4 2.6 18.4 13.9 Caribou Caribou
including 184.7 185.0 0.3 139 100
OSK-W-21-2463-W2 797.0 799.2 2.2 3.79   Underdog Underdog
1046.9 1049.0 2.1 6.01   Underdog Underdog
OSK-W-21-2463-W3 1012.8 1015.1 2.3 3.60   Underdog Underdog
including 1013.3 1013.8 0.5 9.75  
1078.0 1080.2 2.2 11.0   Underdog Underdog
including 1079.6 1080.2 0.6 35.4  
OSK-W-21-2479-W1 618.8 621.0 2.2 15.3   Underdog Underdog
including 618.8 619.2 0.4 67.7  
  854.7 856.8 2.1 4.37   Underdog Underdog
  896.0 898.0 2.0 8.16   Underdog Underdog
including 896.9 897.6 0.7 22.7  
OSK-W-21-2479-W2 624.6 627.1 2.5 8.19   Underdog Underdog
including 625.3 625.9 0.6 32.4  
950.9 953.0 2.1 4.20   Underdog Underdog
including 950.9 951.4 0.5 16.6  
974.0 976.0 2.0 16.3   Underdog Underdog
OSK-W-21-2479-W3 465.0 467.0 2.0 4.74   Z27 Zone 27
483.1 485.7 2.6 11.3   Z27_1204 Zone 27
including 485.0 485.7 0.7 30.0  
OSK-W-21-2479-W4 473.0 475.0 2.0 8.15   Z27 Zone 27
including 473.4 474.0 0.6 24.7  
OSK-W-21-2483 382.0 384.0 2.0 6.33   Caribou Caribou
OSK-W-21-2490 369.0 371.0 2.0 6.04   Caribou Caribou
OSK-W-21-2512 430.2 432.3 2.1 4.71   Caribou Caribou
OSK-W-21-2523 733.6 736.1 2.5 4.79   Underdog Underdog
WST-21-0663 74.7 77.8 3.1 20.5   Bobcat Bobcat
including 77.3 77.8 0.5 94.9  
WST-21-0800 100.2 102.2 2.0 8.71   Bobcat Bobcat
including 100.2 101.3 1.1 15.8  
WST-21-0727A 358.1 360.8 2.7 6.84   Triple Lynx Triple Lynx
including 358.1 359.0 0.9 16.2  
WST-21-0756 352.2 354.7 2.5 6.91   Triple Lynx Triple Lynx
WST-21-0789B 248.0 250.0 2.0 37.4 35.1 Lynx SW Lynx SW
including 248.0 248.7 0.7 107 100
  301.1 305.4 4.3 28.8   Lynx SW Lynx SW
including 301.1 302.1 1.0 78.4  
WST-21-0795A 403.9 406.0 2.1 3.98   Lynx 4 Lynx
including 403.9 404.4 0.5 11.5  

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. Z27 = Zone 27, SW = Southwest.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-19-1827-W1 331 -58 1257 452506 5434390 403 2475
OSK-W-20-2275-W2 127 -49 1035 452888 5435583 409 3400
OSK-W-20-2292-W2 125 -54 1002 453035 5435561 420 3525
OSK-W-20-2313-W10 134 -52 1059 452965 5435583 420 3450
OSK-W-20-2371-W1 123 -53 1032 452996 5435363 412 3375
OSK-W-20-2397-W1 131 -58 1200 453451 5435594 412 3900
OSK-W-20-2406 333 -56 693 452633 5434281 400 2525
OSK-W-20-2423 332 -60 1326 452616 5434449 403 2600
OSK-W-21-777-W1 330 -59 969 452678 5434500 403 2675
OSK-W-21-777-W2 330 -59 1170 452678 5434500 403 2675
OSK-W-21-1827-W3 331 -58 996 452506 5434390 403 2475
OSK-W-21-1882-W1 328 -57 1197 452469 5434405 400 2450
OSK-W-21-1882-W2 328 -57 726 452469 5434405 400 2450
OSK-W-21-1882-W3 328 -57 1004 452469 5434405 400 2450
OSK-W-21-2067-W7 123 -53 1166 453241 5435697 416 3750
OSK-W-21-2275-W6 127 -49 864 452888 5435583 409 3400
OSK-W-21-2444 337 -59 636 452715 5434606 397 2775
OSK-W-21-2463-W2 339 -65 1325 452616 5434449 403 2600
OSK-W-21-2463-W3 339 -65 1299 452616 5434449 403 2600
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2479-W1 344 -55 972 452315 5434419 399 2325
OSK-W-21-2479-W2 344 -55 990 452315 5434419 399 2325
OSK-W-21-2479-W3 344 -55 1014 452315 5434419 399 2325
OSK-W-21-2479-W4 344 -55 402 452315 5434419 399 2325
OSK-W-21-2483 328 -58 756 452731 5434634 397 2800
OSK-W-21-2486 334 -57 1167 452596 5434392 401 2550
OSK-W-21-2487-W4 359 -73 768 454135 5435058 397 4225
OSK-W-21-2487-W5 359 -73 771 454135 5435058 397 4225
OSK-W-21-2490 338 -61 786 452756 5434466 400 2725
OSK-W-21-2492-W2 122 -53 879 453687 5435676 401 4125
OSK-W-21-2499 158 -45 240 453484 5435967 403 4100
OSK-W-21-2503 126 -58 1080 453333 5435641 413 3800
OSK-W-21-2505 172 -42 243 453484 5435967 403 4100
OSK-W-21-2512 331 -54 855 452448 5434465 400 2475
OSK-W-21-2512-W1 331 -54 1089 452448 5434465 400 2475
OSK-W-21-2514 134 -55 618 452768 5435313 406 3150
OSK-W-21-2518 163 -46 282 453519 5436029 405 4150
OSK-W-21-2520 337 -56 351 452596 5434392 401 2550
OSK-W-21-2523 340 -58 114 452480 5434428 402 2475
OSK-W-21-2526 159 -44 287 453519 5436029 406 4150
WST-20-0318 149 -53 502 453227 5435125 135 3475
WST-20-0472 149 -23 223 453493 5435287 117 3775
WST-21-0642 149 -38 172 452955 5435003 253 3175
WST-21-0645 173 5 153 452954 5435002 255 3175
WST-21-0647 150 -59 345 453228 5435126 135 3475
WST-21-0663 164 -40 214 452954 5435003 253 3175
WST-21-0727A 146 -69 361 453507 5435327 -7 3800
WST-21-0756 131 -43 411 453357 5435273 15 3650
WST-21-0774 148 -40 724 453373 5435296 -26 3675
WST-21-0789B 125 -55 381 453106 5435066 231 3325
WST-21-0795A 153 -41 415 453257 5435209 96 3525
WST-21-0797 136 -47 136 453322 5435235 55 3600
WST-21-0800 135 -55 346 452954 5435003 252 3175
WST-21-0812 149 -51 370 452954 5435003 253 3175

 

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-Zones

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

 

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.

 

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

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 CONTINUES TO ADD HIGH-GRADE AT LYNX

184 g/t Au Over 2.1 Metres

34.1 g/t Au over 7.1 Metres

(Toronto, June 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.

Significant new analytical results presented below include 68 intercepts in 22 drill holes (2 from surface, 20 from underground) and 15 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “The continued success of the infill and expansion drill programs at Lynx demonstrate how robust the system is with respect to grade and growth.  Windfall is demonstrating its consistency with more high-grade infill and expansion holes, and we expect to complete our major drill program as scheduled this fall.”

Selected high-grade intercepts include: 184 g/t Au over 2.1 metres in OSK-W-21-2480-W3; 34.1 g/t Au over 7.1 metres in OSK-W-21-2495-W1, 94.1 g/t Au over 2.0 metres in OSK-W-21-2487-W4, 40.3 g/t Au over 4.0 metres and 41.2 g/t Au over 2.9 metres in OSK-W-21-2067-W7; 36.0 g/t Au over 4.0 metres in OSK-W-21-2503; and 41.0 g/t Au over 2.5 metres in OSK-W-21-2465-W2. 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-21-2067-W7 1029.0 1033.0 4.0 5.08   TLX_3183 Triple Lynx
  1039.5 1042.4 2.9 41.2 21.7 TLX_3183 Triple Lynx
including 1039.5 1039.8 0.3 180 100
and 1042.1 1042.4 0.3 209 100
  1115.0 1119.0 4.0 40.3 18.6 TLX_3170 Triple Lynx
including 1117.0 1117.5 0.5 274 100
  1132.1 1134.2 2.1 34.2 15.5 TLX_3172 Triple Lynx
including 1133.9 1134.2 0.3 231 100
OSK-W-21-2478-W3 891.1 893.4 2.3 5.78   TLX_3161 Triple Lynx
including 892.7 893.4 0.7 14.2  
OSK-W-21-2478-W4 842.8 846.5 3.7 7.00   TLX_3171 Triple Lynx
  863.9 866.0 2.1 4.13   TLX_3184 Triple Lynx
  874.3 876.3 2.0 26.2   TLX_3184 Triple Lynx
including 874.3 874.7 0.4 90.3  
  877.7 880.2 2.5 5.65   TLX_3161 Triple Lynx
including 879.7 880.2 0.5 20.0  
OSK-W-21-2480-W3 757.4 759.5 2.1 184 78.2 LXM_3304 Lynx
including 758.4 759.2 0.8 350 100
OSK-W-21-2480-W4 734.6 737.2 2.6 8.59   LXM_3304 Lynx
including 734.6 735.2 0.6 23.3  
OSK-W-21-2487-W4 686.0 688.0 2.0 94.1 27.2 LX4_3414 Lynx 4
including 686.7 687.0 0.3 546 100
OSK-W-21-2492-W3 803.4 805.5 2.1 8.19   LX4_3414 Lynx 4
including 804.0 804.5 0.5 18.4  
  864.0 866.0 2.0 10.1   LX4_3437 Lynx 4
OSK-W-21-2495-W1 1038.0 1045.1 7.1 34.1 33.5 LX4_3430 Lynx 4
including 1040.0 1041.0 1.0 105 100
OSK-W-21-2503 1008.0 1013.0 5.0 6.59   TLX_3163 Triple Lynx
  1087.0 1089.0 2.0 3.53   TLX_3162 Triple Lynx
including 1088.3 1088.6 0.3 12.6  
  1113.0 1117.0 4.0 36.0 22.4 TLX_3172 Triple Lynx
including 1115.1 1115.8 0.7 178 100
  1120.0 1122.1 2.1 11.5   TLX_3172 Triple Lynx
including 1120.3 1120.6 0.3 72.8  
OSK-W-21-2522 735.0 737.0 2.0 4.54   LXM_3345 Lynx
WST-21-0650 232.5 236.1 3.6 9.91   LXSW_3507 Lynx
including 232.5 233.0 0.5 51.3  
WST-21-0684 267.9 269.9 2.0 6.55   LXSW_3556 Lynx
including 268.6 269.0 0.4 32.0  
WST-21-0725 262.4 264.5 2.1 7.65   TLX_3185 Triple Lynx
WST-21-0727A 334.1 336.1 2.0 15.0   TLX_3163 Triple Lynx
including 334.1 334.7 0.6 44.7  
WST-21-0734A 323.7 325.9 2.2 6.99   LXSW_3556 Lynx
including 325.2 325.9 0.7 21.1  
WST-21-0736 202.0 204.0 2.0 14.0   LXSW_3507 Lynx
including 202.0 202.7 0.7 35.1  
  297.0 299.6 2.6 13.4   LXSW_3556 Lynx
including 297.0 297.9 0.9 31.6  
  354.0 356.2 2.2 12.7   LXSW_3502 Lynx
including 355.3 355.6 0.3 33.9  
WST-21-0768 365.0 367.0 2.0 17.0   LXSW_3502 Lynx
including 366.1 366.7 0.6 56.2  
WST-21-0769 79.1 81.3 2.2 10.3   LXM_3311 Lynx
including 79.1 79.9 0.8 27.0  
WST-21-0774 479.6 482.0 2.4 12.1   LX4_3450 Lynx 4
including 480.3 481.1 0.8 35.5  
WST-21-0782 169.3 172.0 2.7 20.6   LXM_3304 Lynx
including 169.3 170.2 0.9 49.1  
WST-21-0787 129.4 133.0 3.6 5.66   LXM_3334 Lynx
WST-21-0790 95.0 97.3 2.3 5.00   LXM_3339 Lynx
including 96.0 96.7 0.7 12.3  
  105.0 107.0 2.0 10.7   LXM_3339 Lynx
including 105.4 106.0 0.6 24.3  

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.

Expansion 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-21-2275-W5 1053.0 1057.1 4.1 17.2   Triple Lynx Triple Lynx
including 1053.5 1053.8 0.3 37.2  
and 1056.3 1057.1 0.8 72.5  
OSK-W-21-2391-W3 1251.0 1253.1 2.1 3.64   Triple Lynx Triple Lynx
OSK-W-21-2391-W4 1404.5 1406.5 2.0 6.39   Triple Lynx Triple Lynx
including 1404.5 1404.8 0.3 36.2  
  1409.0 1412.2 3.2 6.03   Triple Lynx Triple Lynx
including 1409.0 1409.9 0.9 18.0  
  1417.0 1419.0 2.0 3.90   Triple Lynx Triple Lynx
including 1417.6 1418.1 0.5 12.5  
OSK-W-21-2465-W2 763.7 766.2 2.5 41.0 39.1 Triple Lynx Triple Lynx
including 765.0 765.3 0.3 111 100
and 765.6 766.2 0.6 99.6 97.1
OSK-W-21-2470-W2 921.0 923.0 2.0 4.27   Triple Lynx Triple Lynx
  925.4 928.6 3.2 6.01   Triple Lynx Triple Lynx
including 925.4 925.9 0.5 18.5  
  991.7 995.0 3.3 4.20   Triple Lynx Triple Lynx
including 991.7 992.1 0.4 19.1  
  1125.0 1127.0 2.0 7.82   Triple Lynx Triple Lynx
including 1125.3 1125.6 0.3 29.8  
OSK-W-21-2470-W3 975.7 977.7 2.0 8.24   Triple Lynx Triple Lynx
OSK-W-21-2480-W2 678.8 682.0 3.2 7.66   Lynx Lynx
OSK-W-21-2495-W1 604.0 606.1 2.1 4.18   Lynx Lynx
including 605.3 605.7 0.4 15.4  
  1157.9 1160.0 2.1 5.79   Lynx 4 Lynx
including 1158.5 1159.3 0.8 12.6  
  1190.7 1193.0 2.3 4.83   Lynx 4 Lynx
including 1191.8 1192.2 0.4 26.8  
WST-21-0661 171.0 173.0 2.0 5.37   Lynx SW Lynx SW
including 171.9 172.4 0.5 21.4  
WST-21-0663 191.0 193.0 2.0 5.65   Lynx SW Lynx SW
including 191.0 191.4 0.4 27.4  
WST-21-0681 419.0 421.9 2.9 10.4   Triple Lynx Triple Lynx
  444.0 446.0 2.0 8.90   Triple Lynx Triple Lynx
including 445.0 446.0 1.0 17.4  
WST-21-0734A 192.0 194.0 2.0 4.76   Lynx SW Lynx SW
WST-21-0736 247.0 249.0 2.0 11.6   Lynx SW Lynx SW
WST-21-0767 268.0 270.2 2.2 4.67   Lynx SW Lynx SW
including 268.6 269.3 0.7 12.1  
WST-21-0768 263.0 265.2 2.2 18.2 14.3 Lynx SW Lynx SW
including 264.1 264.4 0.3 129 100
  312.0 314.0 2.0 13.5   Lynx SW Lynx SW
including 313.0 313.3 0.3 83.5  
WST-21-0769 320.0 322.0 2.0 4.38   Lynx SW Lynx SW
including 320.4 321.2 0.8 10.9  
  329.3 331.3 2.0 17.1 15.6 LXSW_3502 Lynx SW
including 329.3 329.6 0.3 110 100
WST-21-0774 332.0 334.0 2.0 3.64   Triple Lynx Triple Lynx
  677.5 683.0 5.5 16.4 11.0 Lynx 4 Lynx
including 677.5 677.8 0.3 198 100
WST-21-0777 311.0 313.0 2.0 3.59   Lynx SW Lynx SW
WST-21-0781 227.8 229.8 2.0 23.5   Triple Lynx Triple Lynx
including 229.2 229.5 0.3 99.6  
WST-21-0782 151.0 153.0 2.0 4.26   Lynx Lynx
including 151.3 151.6 0.3 27.2  
WST-21-0783 170.5 172.5 2.0 12.4   Lynx Lynx
including 170.5 170.8 0.3 68.0  
WST-21-0803 157.0 159.4 2.4 23.1   Triple Lynx Triple Lynx

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

 

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-2067-W7 123 -53 1166 453241 5435697 416 3750
OSK-W-21-2275-W5 127 -49 1242 452888 5435583 409 3400
OSK-W-21-2391-W3 117 -57 1566 453281 5435894 408 3900
OSK-W-21-2391-W4 117 -57 1212 453281 5435894 408 3900
OSK-W-21-2465-W2 123 -61 831 453397 5435557 413 3825
OSK-W-21-2470-W2 132 -59 1197 453304 5435639 415 3775
OSK-W-21-2470-W3 132 -59 1209 453304 5435639 415 3775
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2478-W4 127 -53 744 452997 5435607 425 3500
OSK-W-21-2480-W2 121 -55 789 453412 5435633 412 3875
OSK-W-21-2480-W3 121 -55 810 453412 5435633 412 3875
OSK-W-21-2480-W4 121 -55 780 453412 5435633 412 3875
OSK-W-21-2487-W4 359 -73 768 454135 5435058 397 4225
OSK-W-21-2492-W3 122 -53 720 453687 5435676 401 4125
OSK-W-21-2495-W1 123 -54 1301 453426 5435565 410 3850
OSK-W-21-2503 126 -58 1080 453333 5435641 413 3800
OSK-W-21-2522 128 -54 450 453451 5435594 411 3900
WST-21-0650 139 -60 466 452954 5435003 253 3175
WST-21-0661 163 -34 253 452954 5435003 254 3175
WST-21-0663 164 -40 214 452954 5435003 253 3175
WST-21-0681 160 -43 721 453322 5435235 55 3600
WST-21-0684 150 -44 301 452955 5435003 253 3175
WST-21-0725 160 -67 391 453506 5435327 -7 3800
WST-21-0727A 146 -69 361 453507 5435327 -7 3800
WST-21-0734A 129 -56 360 452956 5435003 253 3175
WST-21-0736 146 -53 448 452955 5435003 253 3175
WST-21-0767 175 -55 354 453104 5435065 231 3325
WST-21-0768 169 -53 453 453104 5435065 231 3325
WST-21-0769 171 -49 396 453103 5435064 231 3325
WST-21-0774 148 -40 724 453373 5435296 -26 3675
WST-21-0777 144 -49 352 452954 5435003 253 3175
WST-21-0781 129 -59 283 453508 5435327 -7 3800
WST-21-0782 123 -36 207 453508 5435327 -7 3800
WST-21-0783 119 -28 201 453508 5435327 -6 3800
WST-21-0787 143 -46 517 453320 5435235 54 3600
WST-21-0790 171 -65 64 453104 5435065 231 3325
WST-21-0803 162 -44 364 453356 5435271 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), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

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 HITS NEW DISCOVERY ONE KILOMETRE NORTH OF WINDFALL

Recon Drilling Returns High-Grade:  27.4 g/t Au Over 6.7 Metres

(Toronto, June 15, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to announce that a significant new high-grade gold discovery has been made north of its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

Reconnaissance drilling approximately one kilometre north of Windfall identified the discovery area (“Golden Bear”), located along a sub-parallel splay of the Windfall Bank Fault.

 

Osisko Mining Chief Executive Officer John Burzynski commented: “It’s early days, but it looks like we’ve found another new high-grade system near Windfall in an area with little drilling.  We are very excited by the Golden Bear discovery, particularly as this new mineralization is located less than a kilometre from the footprint of where we hope to build the Windfall mine and milling facility.  When Osisko discovered the Lynx deposit in 2016 it was a game-changer for the overall scale and grade of Windfall.  We believe that this new high-grade discovery may similarly have a significant positive effect on our development plans for the Windfall camp.  It certainly underscores the highly prospective nature of Osisko’s strategic land package surrounding Windfall, the vast majority of which has yet to see any drilling.”

 

Golden Bear is situated within a package of andesitic to dacitic rock intruded by felsic porphyries.  Mineralization in the discovery intersection consists of pyrrhotite ± pyrite-sphalerite-chalcopyrite with local visible gold in pervasive silica alteration and quartz-carbonate veins.  Drilling on Golden Bear is now focused on confirming the discovery, its orientation and the extent of the mineralization.  Additional drilling will include tight and wide step outs, and new results will be released as they are received.

Maps showing the drill hole location and full analytical results are available at www.osiskomining.com

Discovery Hole OSK-UB-21-232

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-UB-21-232 503.0 509.7 6.7 27.4 17.2 New Golden Bear
including 507.0 509.7 2.7 63.6 38.2

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

 

Discovery Hole Location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-UB-21-232 350 -50 552 453190 5436568 408 N.A.

 

Golden Bear Discovery

Mineralization is hosted in an altered andesite and occurs as pyrrhotite replacement in grey to translucent pervasive silica and quartz-carbonate-pyrrhotite veins. Replacement mineralization is associated with strong pervasive silica alteration and contains trace to 15% disseminated and clustered pyrrhotite with local visible gold and trace amounts of sphalerite-chalcopyrite. Vein-type mineralization is associated with a halo of pervasive sericite-chlorite ± ankerite alteration containing sulphides (predominantly pyrrhotite with trace sphalerite, chalcopyrite, pyrite, galena and arsenopyrite) 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), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 Estimate (“MRE”) defined by Osisko is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020) (the “2021 Windfall PEA“), 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 MRE are further described in the 2021 Windfall PEA prepared by BBA Inc. in accordance with NI 43-101, which 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 significance of the new high-grade gold discovery; the prospects, if any, of Golden Bear; the mineralization of Golden Bear; the significance of drill results; the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the prospects, if any, of the Windfall gold deposit; 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

248 g/t Au Over 2.2 Metres

164 g/t Au over 2.2 Metres

(Toronto, June 8, 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 34 intercepts in 15 underground drill holes and 8 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021).

Osisko Chief Executive Officer John Burzynski commented: “Infill drilling in Lynx consistently delivers evenly distributed high-grade throughout the Lynx zones. Top results released today are all greater than an ounce per ton over two metres.”

Selected high-grade intercepts include: 248 g/t Au over 2.2 metres in WST-21-0750; 164 g/t Au over 2.2 metres in OSK-W-21-2492-W1, 128 g/t Au over 2.3 metres in OSK-W-21-2067-W6, 56.5 g/t Au over 2.9 metres in WST-21-0655 and 46.8 g/t Au over 2.6 metres in WST-21-0727A. 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-21-2067-W6 1078.7 1080.8 2.1 4.77   TLX_3162 Triple Lynx
1095.7 1098.0 2.3 128 19.0 TLX_3170 Triple Lynx
including 1095.7 1096.1 0.4 725 100
OSK-W-21-2275-W5 909.0 911.0 2.0 24.7   TLX_3129 Triple Lynx
including 910.0 911.0 1.0 47.6
918.0 920.0 2.0 36.9 21.5 TLX_3129 Triple Lynx
including 918.9 919.3 0.4 177 100
OSK-W-21-2478-W1 583.0 588.0 5.0 4.10   TLX_3178 Triple Lynx
including 587.0 588.0 1.0 13.1
OSK-W-21-2478-W3 901.0 903.0 2.0 9.94   TLX_3161 Triple Lynx
including 902.0 903.0 1.0 19.8
OSK-W-21-2487-W3 674.3 676.3 2.0 19.8   LX4_3414 Lynx 4
OSK-W-21-2492-W1 771.0 773.2 2.2 164 18.4 LX4_3414 Lynx 4
including 771.8 772.2 0.4 902 100
OSK-W-21-2492-W2 759.0 762.0 3.0 4.22   LX4_3424 Lynx 4
including 761.2 762.0 0.8 14.7
794.0 796.0 2.0 4.40   LX4_3414 Lynx 4
OSK-W-21-2495-W1 668.0 670.0 2.0 28.0   LXM_3304 Lynx
including 669.6 670.0 0.4 60.5
675.3 678.0 2.7 34.4   LXM_3304 Lynx
including 675.3 676.2 0.9 89.7
WST-21-0653A 362.0 364.2 2.2 12.8   LXSW_3556 Lynx
including 362.4 363.2 0.8 33.3
WST-21-0655 299.0 301.9 2.9 56.5 32.1 Lynx SW Lynx SW
including 301.0 301.9 0.9 179 100
WST-21-0664 85.2 88.0 2.8 34.7 25.2 LXM_3307 Lynx
including 85.2 85.9 0.7 138 100
477.8 479.9 2.1 11.0   LX4_3450 Lynx 4
including 479.1 479.9 0.8 24.8
WST-21-0681 290.0 292.0 2.0 4.71   TLX_3131 Triple Lynx
including 291.4 292.0 0.6 15.0
321.0 323.0 2.0 6.38   TLX_3167 Triple Lynx
including 321.4 321.8 0.4 31.5
482.0 484.2 2.2 10.8   LX4_3450 Lynx 4
WST-21-0705A 243.3 245.3 2.0 4.56   LXSW_3500 Lynx SW
including 244.6 245.3 0.7 13.0
WST-21-0718 25.9 28.0 2.1 15.0   LXM_3303 Lynx
including 26.7 27.3 0.6 47.4
88.7 90.7 2.0 26.7   LXM_3304 Lynx
including 88.7 89.4 0.7 69.0
WST-21-0719 88.7 90.7 2.0 17.0   LXM_3304 Lynx
including 89.3 90.0 0.7 48.2
WST-21-0727A 260.1 262.7 2.6 46.8 22.0 TLX_3161 Triple Lynx
including 261.2 261.7 0.5 229 100
WST-21-0750 232.6 234.8 2.2 248 55.6 TLX_3161 Triple Lynx
including 233.8 234.3 0.5 740 100
WST-21-0755 318.0 320.0 2.0 4.92   TLX_3131 Triple Lynx
including 319.2 320.0 0.7 12.0
WST-21-0757 200.5 202.7 2.2 21.9   LXSW_3506 Lynx
including 201.0 201.3 0.3 75.2
255.0 257.0 2.0 11.3   TLX_3131 Triple Lynx
including 256.3 257.0 0.7 31.8
272.6 275.0 2.4 4.69   TLX_3166 Triple Lynx
357.0 359.5 2.5 34.8 19.4 TLX_3165 Triple Lynx
including 358.3 358.7 0.4 197 100
WST-21-0762 98.3 100.4 2.1 4.54   LXM_3311 Lynx
including 98.7 99.4 0.7 11.6
WST-21-0768 281.0 283.0 2.0 12.8   LXSW_3556 Lynx
including 281.3 281.6 0.3 77.7
WST-21-0769 268.0 270.0 2.0 8.16   LXSW_3556 Lynx SW
including 268.7 269.6 0.9 17.9
WST-21-0787 489.0 491.1 2.1 10.3   LX4_3450 Lynx 4
including 490.3 490.7 0.4 53.4

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-21-2067-W6 123 -53 1281 453241 5435697 416 3750
OSK-W-21-2275-W5 127 -49 1242 452888 5435583 409 3400
OSK-W-21-2478-W1 128 -54 764 452997 5435607 425 3500
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2487-W3 359 -73 762 454135 5435058 397 4225
OSK-W-21-2492-W1 122 -53 843 453687 5435676 401 4125
OSK-W-21-2492-W2 122 -53 879 453687 5435676 401 4125
OSK-W-21-2495-W1 123 -54 1301 453426 5435565 410 3850
WST-21-0653A 155 -65 427 453104 5435065 231 3325
WST-21-0655 162 -63 402 453104 5435065 231 3325
WST-21-0664 140 -51 760 453229 5435127 134 3475
WST-21-0681 160 -43 721 453322 5435235 55 3600
WST-21-0705A 161 -57 351 453104 5435065 231 3325
WST-21-0718 162 0 100 453359 5435195 84 3625
WST-21-0719 163 -4 100 453359 5435194 83 3625
WST-21-0727A 146 -69 361 453507 5435327 -7 3800
WST-21-0750 124 -54 280 453357 5435273 15 3650
WST-21-0755 158 -48 358 453356 5435272 15 3650
WST-21-0757 145 -50 706 453228 5435126 135 3475
WST-21-0762 136 -60 381 453105 5435065 231 3325
WST-21-0768 169 -53 453 453104 5435065 231 3325
WST-21-0769 171 -49 396 453103 5435064 231 3325
WST-21-0787 143 -46 517 453320 5435235 54 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), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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 Estimate (“MRE“) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.

 

About Osisko Mining Inc.

Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).

 

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 ANNOUNCES ANNUAL SHAREHOLDER MEETING RESULTS

 

Toronto, Ontario (May 31, 2021) – Osisko Mining Inc. (TSX:OSK. “Osisko” or the “Corporation”) is pleased to announce the results of its annual meeting of shareholders (the “Meeting”) held earlier today.  A total of 262,643,293 common shares of the Corporation were represented at the Meeting, representing approximately 73.29% of the total number of common shares of the Corporation issued and outstanding.  All matters presented for approval at the Meeting were duly authorized and approved, as follows:

  • election of all management nominees to the board of directors of the Corporation (details in table below); and
  • appointment of PricewaterhouseCoopers LLP as auditors of the Corporation for the ensuing year and authorization of the directors to fix their remuneration.
Name Voted For
(#)
Voted For
(%)
Voted Withhold
(#)
Voted Withhold
(%)
John Burzynski 240,670,936 97.51% 6,138,559 2.49%
José Vizquerra Benavides 221,422,521 89.71% 25,386,974 10.29%
Sean Roosen 214,432,735 86.88% 32,376,760 13.12%
Patrick F.N. Anderson 244,731,286 99.16% 2,078,209 0.84%
Keith McKay 244,691,631 99.14% 2,117,864 0.86%
Amy Satov 242,363,797 98.20% 4,445,698 1.80%
Bernardo Alvarez Calderon 243,599,216 98.70% 3,210,279 1.30%
Robert Wares 235,551,147 95.44% 11,258,348 4.56%
Andrée St-Germain 242,474,009 98.24% 4,335,486 1.76%
Cathy Singer 244,674,156 99.14% 2,135,339 0.86%

Further details on the above matters, including the report of voting results thereon, are 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).

 

For further information please contact:

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