OSISKO WINDFALL DRILLING RETURNS 3,979 g/t Au OVER 2.3 METRES

(Toronto, October 05, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 40 intercepts in 15 drill holes (7 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: “Windfall continues to deliver high-grade values. Today’s spectacular headline result includes a sub-interval of over 15 kilograms per tonne gold and is the second highest sample ever recorded at Windfall (see Osisko news release date December 1, 2020). Our resource infill and expansion drill program has continuously demonstrated the high-grade nature of the Windfall deposit.”

Selected high-grade intercepts include: 3979 g/t Au over 2.3 metres in OSK-W-21-2565; 118 g/t Au over 3.4 metres in WST-21-0763A; 110 g/t Au over 2.3 metres and 79.7 g/t Au over 2.0 metres in WST-21-0858A; 82.7 g/t Au over 2.2 metres in OSK-W-21-1949-W8; 25.6 g/t Au over 4.2 metres in OSK-W-21-2551-W3; and 35.8 g/t Au over 2.9 metres in OSK-W-21-2564-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-21-1432-W6 879.6 881.6 2.0 8.62 LX4_3424 Lynx 4
including 879.6 880.2 0.6 28.7
OSK-W-21-1432-W7 1045.0 1047.0 2.0 13.4 LX4_3430 Lynx 4
including 1045.7 1046.4 0.7 28.4
OSK-W-21-1827-W5 877.0 879.0 2.0 5.25 UDD_4100 Underdog
OSK-W-21-1949-W8 1069.8 1072.0 2.2 82.7 32.0 LX4_3430 Lynx 4
including 1071.0 1071.6 0.6 286 100
OSK-W-21-2287-W3 1158.5 1161.5 3.0 5.00 LX4_3446 Lynx 4
OSK-W-21-2503-W5 934.0 936.0 2.0 14.6 TLX_3163 Triple Lynx
including 934.9 935.2 0.3 82.5
OSK-W-21-2544 914.0 916.5 2.5 7.51 TLX_3194 Triple Lynx
including 914.6 915.6 1.0 18.4
OSK-W-21-2551-W3 867.4 871.6 4.2 25.6 LX4_3414 Lynx 4
including 867.9 868.4 0.5 84.2
OSK-W-21-2560 349.9 352.0 2.1 9.71 Z27_1123 Zone 27
  355.0 357.0 2.0 40.1 Z27_1102 Zone 27
including 355.7 356.3 0.6 91.4
  370.1 372.5 2.4 5.09 Z27_1115 Zone 27
including 370.1 371.0 0.9 10.7
OSK-W-21-2564-W1 784.5 787.4 2.9 35.8 TLX_3159 Lynx HW
  902.0 904.0 2.0 6.70 TLX_3194 Triple Lynx
OSK-W-21-2577 797.6 799.6 2.0 5.68 Z27_1108 Zone 27
OSK-W-21-2581 257.0 259.0 2.0 5.28 CA1_2500 Caribou
including 257.4 258.0 0.6 16.5
  469.0 471.0 2.0 14.6 Z27_1115 Zone 27
  476.5 480.0 3.5 3.96 Z27_1115 Zone 27
WST-21-0763A 472.6 476.0 3.4 118 41.9 LX4_3430 Lynx 4
including 472.6 473.5 0.9 386 100
WST-21-0771C 313.4 317.0 3.6 3.90 LSW_3556 Lynx SW
including 313.4 313.8 0.4 21.4
and 316.6 317.0 0.4 12.0
WST-21-0855 172.0 174.1 2.1 18.1 LXM_3304 Lynx
including 173.8 174.1 0.3 95.3
WST-21-0858A 180.2 182.5 2.3 110 44.3 LXM_3304 Lynx
including 181.0 181.3 0.3 607 100
  517.0 519.0 2.0 79.7 28.3 LX4_3430 Lynx 4
including 518.1 518.5 0.4 357 100
WST-21-0877 305.6 307.7 2.1 4.37 Lynx SW Lynx SW
including 305.6 305.9 0.3 28.7

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, LSW = Lynx Southwest, TLX = Triple Lynx, UDD = Underdog, CA1 = Caribou, and Z27 = Zone 27.

 

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-17-841 966.3 968.8 2.5 11.2 Underdog Underdog
OSK-W-21-1432-W7 1053.0 1055.1 2.1 13.5 Lynx 4 Lynx
including 1053.0 1054.0 1.0 27.5
OSK-W-21-1827-W6 1084.0 1086.0 2.0 4.75 Underdog Underdog
including 1084.8 1085.3 0.5 18.9
OSK-W-21-1871-W1 561.7 564.2 2.5 10.8 Caribou Caribou
including 563.4 564.2 0.8 30.8
OSK-W-21-2503-W5 1004.0 1006.0 2.0 36.4 22.6 Triple Lynx Triple Lynx
including 1004.7 1005.0 0.3 193 100
OSK-W-21-2532-W1 703.0 705.1 2.1 3.50 Underdog Underdog
including 704.7 705.1 0.4 17.6
OSK-W-21-2540-W2 1149.0 1151.0 2.0 5.93 Triple Lynx Triple Lynx
OSK-W-21-2548-W1 488.0 490.0 2.0 15.9 Caribou Caribou
including 488.0 489.0 1.0 31.8
OSK-W-21-2561 611.2 613.5 2.3 9.05 Triple Lynx Triple Lynx
including 612.3 612.8 0.5 41.2
OSK-W-21-2565 535.8 538.1 2.3 3979 27.2 Caribou Caribou
including 537.5 538.1 0.6 15250 100
OSK-W-21-2577 593.0 595.0 2.0 6.61 Caribou Caribou
OSK-W-21-2581 188.4 191.0 2.6 6.65 Caribou Caribou
including 189.8 190.6 0.8 13.8
WST-21-0771C 222.0 225.2 3.2 7.83 Lynx SW Lynx SW
including 224.7 225.2 0.5 31.5
WST-21-0834B 302.0 304.0 2.0 3.54 Lynx HW Lynx HW
including 302.0 302.4 0.4 17.5
WST-21-0874 253.0 255.2 2.2 6.25 Triple Lynx Triple Lynx
WST-21-0881A 247.5 249.5 2.0 12.2 Lynx SW Lynx SW
  444.3 446.3 2.0 5.25 Lynx SW Lynx SW
including 444.8 445.2 0.4 26.1

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

 

Drill hole location

Hole Number Azimuth (°) Dip

(°)

Length (m) UTM E UTM N Elevation Section
OSK-W-17-841 330 -60 1032 452689 5434702 397 2800
OSK-W-21-1432-W6 132 -55 1065 453811 5435779 400 4300
OSK-W-21-1432-W7 132 -55 1185 453811 5435779 400 4300
OSK-W-21-1827-W5 331 -58 1203 452506 5434390 403 2475
OSK-W-21-1827-W6 331 -58 1281 452506 5434390 403 2475
OSK-W-21-1871-W1 331 -56 612 452496 5434397 402 2475
OSK-W-21-1949-W8 105 -57 1284 453440 5435479 401 3825
OSK-W-21-2287-W3 116 -53 1368 453607 5435714 404 4075
OSK-W-21-2503-W5 126 -58 1211 453333 5435641 413 3800
OSK-W-21-2532-W1 341 -60 1035 452480 5434428 401 2475
OSK-W-21-2540-W2 117 -60 1314 453465 5435640 410 3925
OSK-W-21-2544 128 -50 1161 452960 5435539 419 3425
OSK-W-21-2548-W1 331 -57 837 452829 5434550 398 2850
OSK-W-21-2551-W3 120 -55 954 453622 5435635 405 4050
OSK-W-21-2560 333 -53 684 452404 5434674 400 2525
OSK-W-21-2561 142 -51 801 452886 5435484 409 3350
OSK-W-21-2564-W1 132 -50 1152 452960 5435539 419 3425
OSK-W-21-2565 136 -57 717 452768 5435312 406 3150
OSK-W-21-2577 325 -52 822 452829 5434550 398 2850
OSK-W-21-2581 333 -49 755 452469 5434627 403 2550
WST-21-0763A 120 -39 567 453507 5435332 -47 3800
WST-21-0771C 127 -52 357 452954 5435003 252 3175
WST-21-0834B 114 -23 378 453463 5435327 32 3775
WST-21-0855 122 -44 265 453506 5435332 -48 3800
WST-21-0858A 118 -41 643 453507 5435332 -48 3800
WST-21-0874 137 -63 403 453508 5435327 -7 3800
WST-21-0877 158 -60 490 453104 5435065 231 3325
WST-21-0881A 147 -57 457 453105 5435065 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.

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.

 

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.

 

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 Expan EN 20211005

Long Section Infill EN 20211005

PR_EN_20211005_Surface

PR_EN_20211005_UG

OSISKO DRILLING RETURNS 632 g/t Au OVER 5.3 METRES IN LYNX

1,096 g/t Au over 2.7 metres in Caribou

(Toronto, September 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 87 intercepts in 21 drill holes (10 from surface, 11 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: “Today’s results once again underscore the impressive high-grade nature of the Windfall system, especially in the Lynx. Infill drilling has gone very well throughout this drill campaign and expansion holes, like today’s impressive result from Caribou of over a kilogram of gold, highlight the strong near resource growth potential.”

Selected high-grade intercepts include: 632 g/t Au over 5.3 metres in OSK-W-21-1432-W6; 1,096 g/t Au over 2.7 metres in OSK-W-21-2549; 60.4 g/t Au over 3.4 metres in WST-21-0851A; 79.3 g/t Au over 2.5 metres in WST-21-0871; 92.9 g/t Au over 2.0 metres in WST-21-0741; 89.0 g/t Au over 2.0 metres in OSK-W-21-2531-W2; 78.4 g/t Au over 4.2 metres, 57.7 g/t Au over 3.0 metres, and 53.3 g/t Au over 2.8 metres in WST-21-0872; and 37.2 g/t Au over 3.9 metres in OSK-W-21-2555. 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-21-1432-W6 960.7 962.9 2.2 16.4   LX4_3437 Lynx 4
including 961.4 962.2 0.8 41.8
  970.9 976.2 5.3 632 42.7 LX4_3430 Lynx 4
including 973.3 974.3 1.0 1355 100
and 974.3 974.9 0.6 3210 100
OSK-W-21-1827-W6 886.0 888.0 2.0 9.88   UDD_4100 Underdog
including 886.5 886.8 0.3 46.8
  980.0 982.2 2.2 6.54   UDD_4511 Underdog
including 980.7 981.0 0.3 39.7
OSK-W-21-1882-W6 743.9 746.0 2.1 4.12   UDD_4121 Underdog
  807.9 810.0 2.1 12.2   UDD_4120 Underdog
including 807.9 808.4 0.5 47.9
  920.0 922.0 2.0 5.02   UDD_4515 Underdog
including 920.3 920.6 0.3 30.6
  947.0 949.0 2.0 6.16   UDD_4511 Underdog
including 947.7 948.0 0.3 34.4
  956.0 958.0 2.0 4.97   UDD_4510 Underdog
including 957.7 958.0 0.3 13.0
OSK-W-21-1949-W8 746.0 748.0 2.0 10.7   LXM_3345 Lynx
  1065.0 1067.0 2.0 5.90   LX4_3430 Lynx 4
OSK-W-21-2287-W6 1323.3 1325.4 2.1 19.7   LX4_3445 Lynx 4
including 1323.7 1324.2 0.5 47.9
  1330.0 1334.0 4.0 4.49   LX4_3445 Lynx 4
OSK-W-21-2416-W6 926.3 928.6 2.3 18.5   TLX_3161 Triple Lynx
including 926.6 926.9 0.3 49.7
  940.0 942.0 2.0 20.1   TLX_3183 Triple Lynx
  949.0 951.0 2.0 11.4   TLX_3183 Triple Lynx
  970.0 972.2 2.2 4.21   TLX_3163 Triple Lynx
OSK-W-21-2479-W9 635.9 638.4 2.5 6.43   UDD_4101 Underdog
  660.0 662.0 2.0 21.7 20.8 UDD_4102 Underdog
including 661.1 661.5 0.4 105 100
  672.0 674.0 2.0 6.82   UDD_4104 Underdog
OSK-W-21-2503-W3 1026.6 1028.7 2.1 5.13   TLX_3155 Lynx HW
OSK-W-21-2531-W2 893.5 896.7 3.2 6.29   UDD_4101 Underdog
including 896.4 896.7 0.3 18.8
  942.9 944.9 2.0 15.1   UDD_4100 Underdog
including 944.5 944.9 0.4 63.3
  950.8 952.9 2.1 15.4   UDD_4102 Underdog
including 951.1 951.4 0.3 46.4
  964.2 966.2 2.0 89.0 51.8 UDD_4102 Underdog
including 964.2 965.2 1.0 175 100
  1054.0 1056.0 2.0 25.8 16.9 UDD_4511 Underdog
including 1055.7 1056.0 0.3 160 100
1060.2 1064.8 4.6 5.81   UDD_4511 Underdog
including 1060.2 1061.0 0.8 21.8
  1131.6 1134.0 2.4 3.62   UDD_4513 Underdog
including 1131.6 1131.9 0.3 18.9
  1083.7 1087.8 4.1 4.87   UDD_4514 Underdog
including 1083.7 1084.1 0.4 24.4
OSK-W-21-2537-W2 905.0 907.1 2.1 16.6   TLX_3161 Triple Lynx
including 906.3 906.7 0.4 69.7
  919.1 921.4 2.3 16.7   TLX_3161 Triple Lynx
including 919.8 920.3 0.5 46.6
  943.5 945.7 2.2 30.3   TLX_3163 Triple Lynx
including 945.0 945.7 0.7 92.1
  999.0 1001.0 2.0 48.9 17.5 TLX_3169 Triple Lynx
including 1000.0 1000.3 0.3 309 100
OSK-W-21-2548 692.0 694.0 2.0 4.43   CA2_2212 Caribou
including 692.3 692.7 0.4 21.4
OSK-W-21-2548-W2 714.0 716.2 2.2 14.9   CA2_2220 Caribou
including 715.2 715.6 0.4 77.1
OSK-W-21-2551-W2 854.0 856.2 2.2 4.76   LX4_3414 Lynx 4
OSK-W-21-2555 647.5 651.4 3.9 37.2   CA2_2233 Caribou
OSK-W-21-2564 734.0 736.0 2.0 27.0   TLX_3171 Triple Lynx
including 735.1 735.5 0.4 97.2
OSK-W-21-2571 545.0 547.2 2.2 4.56   CA2_2232 Caribou
  555.4 557.6 2.2 3.79   CA2_2232 Caribou
  568.2 570.8 2.6 14.1   CA2_2211 Caribou
including 570.0 570.8 0.8 34.7
OSK-W-21-2575 644.2 648.4 4.2 13.5   CA2_2241 Caribou
including 647.6 648.4 0.8 58.9
OSK-W-21-2580 87.0 89.3 2.3 4.71   F51_6008 F-51
including 87.8 88.5 0.7 13.5
OSK-W-21-2582 118.7 121.0 2.3 16.3   F51_6008 F-51
including 120.0 121.0 1.0 29.0
WST-21-0741 124.0 126.0 2.0 92.9 35.5 LXM_3304 Lynx
including 124.4 125.1 0.7 264 100
WST-21-0839 315.8 318.0 2.2 11.2   TLX_3168 Triple Lynx
including 315.8 316.8 1.0 24.0
WST-21-0843 105.0 107.0 2.0 9.18   LXM_3304 Lynx
including 105.0 105.9 0.9 18.7
WST-21-0851A 492.2 495.6 3.4 60.4 48.6 LX4_3430 Lynx 4
including 494.9 495.6 0.7 157 100
WST-21-0852A 587.4 589.9 2.5 21.5   LX4_3427 Lynx 4
including 588.9 589.5 0.6 43.3
WST-21-0854A 631.9 634.0 2.1 28.4   LX4_3448 Lynx 4
including 631.9 632.9 1.0 59.5
  638.6 641.0 2.4 4.24   LX4_3448 Lynx 4
including 638.6 639.0 0.4 15.7
WST-21-0858A 511.6 513.6 2.0 3.86   LX4_3430 Lynx 4
WST-21-0871 536.5 539.0 2.5 79.3 30.1 LX4_3450 Lynx 4
including 536.5 537.1 0.6 305 100
WST-21-0872 278.0 280.8 2.8 53.3 39.9 TLX_3161 Triple Lynx
including 279.7 280.3 0.6 163 100
  294.0 297.0 3.0 57.7 40.1 TLX_3161 Triple Lynx
including 294.5 295.2 0.7 176 100
WST-21-0873 459.0 461.0 2.0 58.1 31.3 LSW_3502 Lynx SW
including 459.6 460.2 0.6 190 100

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, LSW = Lynx Southwest, TLX = Triple Lynx, UDD = Underdog, and CA2 = Caribou.

 

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-21-1827-W5 801.2 803.7 2.5 5.03   Underdog Underdog
  969.6 972.0 2.4 9.72   Underdog Underdog
including 969.6 969.9 0.3 73.6
OSK-W-21-1827-W6 1044.6 1046.7 2.1 4.98   UDD Underdog
including 1045.7 1046.0 0.3 32.3
  1236.0 1239.0 3.0 6.46   UDD_4508 Underdog
including 1238.6 1239.0 0.4 30.0    
OSK-W-21-1871-W1 456.0 458.1 2.1 5.00   Caribou Caribou
OSK-W-21-1882-W6 764.1 766.5 2.4 4.32   Underdog Underdog
including 764.1 764.4 0.3 33.8
  939.0 941.0 2.0 4.09   Underdog Underdog
OSK-W-21-2287-W5 1167.9 1172.8 4.9 16.7   LX4 Lynx 4
OSK-W-21-2287-W6 1163.8 1166.0 2.2 4.43   LX4_3446 Lynx 4
including 1164.4 1165.0 0.6 15.1
OSK-W-21-2465-W1 756.6 759.0 2.4 16.5 16.1 Lynx Lynx
including 757.8 758.1 0.3 103 100
OSK-W-21-2479-W6 475.0 477.3 2.3 6.29   Z27 Zone 27
including 475.4 476.2 0.8 14.9
OSK-W-21-2503-W5 892.0 894.0 2.0 11.3   TLX Triple Lynx
including 893.0 894.0 1.0 22.1
  1089.0 1091.0 2.0 4.38   TLX Triple Lynx
1148.0 1150.1 2.1 4.73   TLX Triple Lynx
OSK-W-21-2531-W1 1051.8 1054.0 2.2 4.08   Underdog Underdog
including 1052.4 1052.7 0.3 12.7
OSK-W-21-2532-W3 529.0 532.3 3.3 34.6 26.9 Caribou Caribou
including 531.8 532.3 0.5 151 100
OSK-W-21-2537-W2 986.0 988.2 2.2 3.93   Triple Lynx Triple Lynx
OSK-W-21-2548 708.0 710.3 2.3 5.78   Caribou Caribou
including 709.7 710.0 0.3 37.4
OSK-W-21-2548-W2 722.0 724.0 2.0 4.83   Caribou Caribou
including 722.4 722.8 0.4 23.2
  731.0 733.0 2.0 3.90   Caribou Caribou
OSK-W-21-2549 421.1 423.8 2.7 1096 12.9 Caribou Caribou
including 423.5 423.8 0.3 9850 100
OSK-W-21-2555 606.9 609.0 2.1 11.1   Caribou Caribou
including 606.9 607.6 0.7 31.9
OSK-W-21-2565 565.7 572.2 6.5 4.67   Caribou Caribou
OSK-W-21-2571 574.9 577.0 2.1 6.10   CA2_2223 Caribou
  581.4 584.7 3.3 3.82   Caribou Caribou
including 584.2 584.7 0.5 16.6
OSK-W-21-2572 555.0 557.0 2.0 3.92   TLX Triple Lynx
WST-21-0862A 90.7 95.3 4.6 4.85   BCT Bobcat
147.0 149.0 2.0 5.11   LSW Lynx SW
including 147.6 147.9 0.3 33.8
WST-21-0872 312.7 316.9 4.2 78.4 61.1 TLX_3163 Triple Lynx
including 313.7 314.1 0.4 224 100
  324.0 326.0 2.0 23.5   Triple Lynx Triple Lynx
WST-21-0873 401.0 403.0 2.0 36.0 30.9 LSW Lynx SW
including 401.0 401.6 0.6 117 100

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-1432-W6 132 -55 1065 453811 5435779 400 4300
OSK-W-21-1827-W5 331 -58 1203 452506 5434390 403 2475
OSK-W-21-1827-W6 331 -58 1281 452506 5434390 403 2475
OSK-W-21-1871-W1 331 -56 612 452496 5434397 402 2475
OSK-W-21-1882-W6 328 -58 1062 452469 5434405 400 2450
OSK-W-21-1949-W8 105 -57 1284 453440 5435479 401 3825
OSK-W-21-2287-W5 116 -53 1380 453607 5435714 404 4075
OSK-W-21-2287-W6 116 -53 1443 453607 5435714 404 4075
OSK-W-21-2416-W6 123 -54 990 453169 5435624 412 3650
OSK-W-21-2465-W1 123 -61 1036 453398 5435556 413 3825
OSK-W-21-2479-W6 344 -55 1014 452315 5434419 399 2325
OSK-W-21-2479-W9 344 -55 768 452315 5434419 399 2325
OSK-W-21-2503-W3 126 -58 1257 453333 5435641 413 3800
OSK-W-21-2503-W5 126 -58 1211 453333 5435641 413 3800
OSK-W-21-2531-W1 344 -62 1215 452566 5434415 403 2550
OSK-W-21-2531-W2 344 -62 1179 452566 5434415 403 2550
OSK-W-21-2532-W3 341 -60 1082 452480 5434428 401 2475
OSK-W-21-2537-W2 114 -54 1067 452981 5435549 420 3450
OSK-W-21-2548 331 -57 774 452829 5434550 398 2850
OSK-W-21-2548-W2 331 -57 801 452829 5434550 398 2850
OSK-W-21-2549 332 -58 723 452703 5434455 401 2675
OSK-W-21-2551-W2 120 -55 942 453622 5435635 405 4050
OSK-W-21-2555 329 -59 741 452728 5434472 401 2700
OSK-W-21-2564 132 -50 1002 452960 5435539 419 3425
OSK-W-21-2565 136 -57 717 452768 5435312 406 3150
OSK-W-21-2571 330 -56 708 452686 5434505 403 2700
OSK-W-21-2572 146 -50 777 452886 5435484 409 3350
OSK-W-21-2575 332 -58 690 452682 5434351 402 2625
OSK-W-21-2580 151 -59 138 453334 5435783 407 3875
OSK-W-21-2582 150 -52 159 453335 5435822 406 3900
WST-21-0741 178 -25 156 453507 5435326 -6 3800
WST-21-0839 140 -38 577 453321 5435235 55 3600
WST-21-0843 127 -34 115 453315 5435165 124 3575
WST-21-0851A 123 -40 618 453507 5435332 -48 3800
WST-21-0852A 141 -43 709 453321 5435236 54 3600
WST-21-0854A 134 -41 724 453374 5435296 -26 3675
WST-21-0858A 118 -41 643 453507 5435332 -48 3800
WST-21-0862A 151 -56 154 452954 5435003 252 3175
WST-21-0871 140 -50 582 453321 5435236 54 3600
WST-21-0872 135 -69 348 453508 5435327 -7 3800
WST-21-0873 152 -61 507 453105 5435065 231 3325

 

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.

 

Caribou Zone

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

Underdog

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

 

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.

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.

 

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 Infill EN 20210923

Long Section Expan EN 20210923

PR_EN_20210923_Surface

PR_EN_20210923_UG

OSISKO CONFIRMS NEW HIGH-GRADE GOLD DISCOVERY

Golden Bear Expands to 3 Mineralized Zones

67.10 g/t Au Over 2.0 Metres, 62.15 g/t Au Over 2.0 Metres, 38.67 g/t Au Over 2.2 Metres

50,000 Metre Drill Program Begins

(Toronto, September 14, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new results from the expanding Golden Bear discovery located approximately 1000 metres north of its 100% owned high-grade Windfall gold deposit, located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Québec.

 

Additional reconnaissance drilling has confirmed the Golden Bear discovery zone (“D1”) and has also identified two new mineralized zones (“D2” and “D3”). Drilling 50 metres south-east from D1 has defined the presence of parallel gold zone D2. Drilling 200 metres south-east of D1 has defined the presence of a third parallel zone of alteration hosting significant sulfide mineralization (D3). All three zones display alteration, sulfide mineralization and local visible gold, and all three remain open both up and down plunge and along strike. Golden Bear displays similar orientation features observed at Windfall where the principal mineralized areas, including Lynx, can occur as clusters of high-grade zones which extend laterally for over a kilometre.

 

Osisko Mining Chief Executive Officer John Burzynski commented: “Golden Bear is shaping up to be a potentially significant discovery, displaying in this early drilling the type of grades and widths we typically seen at Windfall. The new intercepts from D1, D2 and D3 have returned very respectable high-grade values. Visually these zones look similar to the Windfall mineralized zones, and we believe the Golden Bear mineralization occurred contemporaneously. The whole team is excited and we’ve begun applying the lessons we learned from Windfall over the past five years to Golden Bear, as we start to determine the scale of this new center of mineralization.”

Three drills have now been assigned to Golden Bear to explore along strike and up and down plunge, with more planned to join as the infill program at Windfall reaches completion. Selected high-grade intercepts are reported below. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

 

D1 has currently been traced 170 metres along strike with a plunge to the east-northeast. Drill hole OSK-UB-21-273 returned 67.10 g/t Au over 2.0 metres 60 metres up-plunge from the discovery intercept (27.40 g/t Au over 6.7 metres in OSK-UB-21-232, see Osisko news release dated June 15, 2021). Drill holes OSK-UB-21-264 and OSK-UB-21-272 returned 14.90 g/t Au over 2.0 metres and 26.53 g/t Au over 2.2 metres, respectively, 50 metres and 70 metres down-plunge from the discovery intercept.

 

D2 is a sub-parallel mineralized trend 50 metres south-east from D1, which returned 62.15 g/t Au over 2.0 metres in hole OSK-UB-21-261.

 

D3 is located 200 metres south-east of D1, open in all directions, and is currently defined by one intercept: 38.67 g/t Au over 2.2 metres in drillhole OSK-UB-21-276; and pending assay results in OSK-UB-21-278, a 250-metre step-out hole to the east of OSK-UB-21-276.

Hole No. From (m) To (m) Interval (m) Au

(g/t) uncut

Au (g/t)

cut to 100 g/t

Corridor  

Area

OSK-UB-21-232 503.0 509.7 6.7 27.40 17.20 Discovery (D1)

(previously released)

 

Golden Bear

including 507.0 509.7 2.7 63.60 38.20    
OSK-UB-21-232 434.5 437.0 2.5 4.74   D2 Golden Bear
523.0 524.0 1.0 3.84   D1 Golden Bear
530.1 530.6 0.5 11.00   D1 Golden Bear
OSK-UB-21-260 509.0 511.0 2.0 6.91   Golden Bear
OSK-UB-21-261 413.0 413.5 0.5 8.47   D2 Golden Bear
463.0 465.0 2.0 62.15 50.70 D2 Golden Bear
including 463.0 464.0 1.0 123.00 100.00  
468.0 470.2 2.2 5.39   D2 Golden Bear
OSK-UB-21-263 394.6 396.5 1.9 4.75   D2 Golden Bear
including 394.9 395.5 0.6 14.80      
OSK-UB-21-264 552.8 555.0 2.2 7.17   D1 Golden Bear
including 554.7 555.0 0.3 17.45      
559.0 559.8 0.8  14.80   D1 Golden Bear
575.6 577.6 2.0 14.90   D1 Golden Bear
  579.5 581.3 1.8 3.56   D1 Golden Bear
OSK-UB-21-265 460.1 462.0 1.9 10.20   D1 Golden Bear
including 460.8 461.4 0.6 32.10      
OSK-UB-21-266 453.2 454.1 0.9 5.49   D2 Golden Bear
OSK-UB-21-268 474.8 475.4 0.6 9.42   D1 Golden Bear
  577.2 577.7 0.5 16.60   Golden Bear
OSK-UB-21-272 483.8 486.0 2.2 26.53 23.16 D1 Golden Bear
including 484.3 484.7 0.4 119.00 100.00 D1 Golden Bear
OSK-UB-21-273 450.7 452.7 2.0 67.10   D1 Golden Bear
OSK-UB-21-274 563.2 566.7 3.5 5.84   D2 Golden Bear
OSK-UB-21-276 604.7 609.4 2.2 38.67 18.30 D3 Golden Bear
including 609.0 609.4 0.4 212.00 100.00 D3  
OSK-UB-21-277 451.3 452.0 0.7 4.32   D1 Golden Bear
OSK-UB-21-278 766.5 774.0 7.5 Pending   D3 Golden Bear

Notes: True widths are currently unknown. See “Quality Control and Reporting Protocols” below.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-UB-21-232 350 -50 567 453190 5436568 408 N.A.
OSK-UB-21-260 350 -54 579 453190 5436565 408 N.A.
OSK-UB-21-261 352 -51 585 453190 5436565 408 N.A.
OSK-UB-21-263 349 -51 540 453190 5436608 408 N.A.
OSK-UB-21-264 354 -48 615 453187 5436519 408 N.A.
OSK-UB-21-265 199 -59 540 453194 5437109 430 N.A.
OSK-UB-21-266 185 -61 645 453194 5437109 430 N.A.
OSK-UB-21-268 185 -65 621 453194 5437109 430 N.A.
OSK-UB-21-269 177 -66 708 453233 5437077 429 N.A.
OSK-UB-21-270 184 -63 648 453194 5437109 430 N.A.
OSK-UB-21-271 175 -68 675 453233 5437077 429 N.A.
OSK-UB-21-272 181 -67 609 453194 5437109 430 N.A.
OSK-UB-21-273 207 -55 564 453194 5437109 430 N.A.
OSK-UB-21-274 175 -70 705 453233 5437077 429 N.A.
OSK-UB-21-276 177 -59 684 453233 5437077 429 N.A.
OSK-UB-21-277 211 -49 558 453194 5437109 430 N.A.

Note: N.A. = not applicable

 

The D1 discovery hole returned 27.40 g/t Au over 6.7 metres in OSK-UB-21-232. Golden Bear is a “blind” discovery in a geological setting with many similarities to Windfall. Windfall has an extensive alteration and mineralization footprint of over 4km strike length and approximately 3km vertical extent. The scale of Windfall indicates a significant mineralizing event in the Urban Barry belt. Many of the district intrusives hosting gold mineralization bear similar emplacement age dates, suggesting a district-scale mineralizing event was responsible for the Windfall deposit. Golden Bear is another example of this district-scale mineralization, and there is good potential that additional deposits remain to be discovered. Osisko’s extensive land package dominates the district and the principal mineralized structures in the Urban Barry gold camp.

 

A drill program of 50,000 metres, funded with cash on hand, is in progress to explore Golden Bear and the immediate surrounding areas. Maps showing the drill hole location and full analytical results are available at www.osiskomining.com

 

Golden Bear

Mineralization at D1 and D2 is hosted in altered dacite and occurs as pyrrhotite replacement in grey to translucent silica and quartz-carbonate-pyrrhotite veins. Replacement mineralization is associated with silica alteration and contains trace to 15% disseminated and clustered pyrrhotite with local visible gold and traces of sphalerite-chalcopyrite-galena. Vein-type mineralization is associated with a halo of pervasive sericite-chlorite ± ankerite alteration containing sulphides (predominantly pyrrhotite with local traces of sphalerite, chalcopyrite, pyrite, galena and arsenopyrite), and local visible gold. Mineralization at D3 is hosted in altered dacite associated with silica alteration and a halo of pervasive sericite-ankerite alteration, similar to D1 and D2. Mineralization within the silica alteration consists of trace to 10% pyrite ± pyrrhotite stringers with local visible gold and traces of sphalerite. Quartz-carbonate vein-type mineralization is also present and consists of trace to 5% pyrite-pyrrhotite and trace amounts of sphalerite.

 

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 currently unknown but 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. 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.

 

Golden Bear is located approximately 1000 metres to the north of the Windfall gold deposit.  Golden Bear is in early stages of drilling and has no current defined mineral resources.

 

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

GoldenBear composite long section EN 20210914

GoldenBear plan map EN 20210914

 

OSISKO WINDFALL DRILLING RETURNS MORE HIGH-GRADE

Including 512 g/t Au Over 2.4 Metres, 212 g/t Au Over 2.4 Metres in Lynx

 

(Toronto, September 7, 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 142 intercepts in 32 drill holes (16 from surface, 16 from underground) and 24 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: “Windfall continues to deliver high-grade intercepts, especially in the Lynx and Underdog zones. Infill drilling has consistently delivered throughout our drill campaign, which is winding down this fall as we approach the completion of our drilling for the feasibility study next year. The great potential for growth at Windfall continues to be demonstrated by new high-grade intercepts located outside the February 2021 resource blocks. Windfall has shown its ability to deliver high-grade results time and time again, it’s a strong and consistent mineralized system.  As we move to completion of the infill program at Windfall, we are also beginning to move additional drills to the new Golden Bear discovery area and expect to have an update on our progress there in the coming weeks.”

Selected high-grade intercepts include: 512 g/t Au over 2.4 metres in WST-21-0833;  212 g/t Au over 2.4 metres in WST-21-0842; 86.8 g/t Au over 3.4 metres in OSK-W-21-2287-W4; 141 g/t Au over 2.0 metres and 29.0 g/t Au over 5.5 metres in OSK-W-21-2503-W4; 108 g/t Au over 2.3 metres in OSK-W-21-2531-W1; 42.1 g/t Au over 4.8 metres in OSK-W-21-2470; 17.3 g/t Au over 11.4 metres in OSK-W-21-2537-W1; 83.0 g/t Au over 2.0 metres in OSK-W-21-2548-W2, and 57.6 g/t Au over 2.1 metres in WST-21-0854A. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2292-W6 862.7 864.8 2.1 5.68   TLX_3184 Triple Lynx
OSK-W-20-2400 1051.7 1054.3 2.6 4.57   UDD_4903 Underdog
  1060.9 1063.0 2.1 17.7   UDD_4904 Underdog
including 1060.9 1061.9 1.0 37.0
OSK-W-21-1432-W5 932.8 935.0 2.2 3.76   LX4_3437 Lynx 4
  943.0 946.1 3.1 12.5   LX4_3437 Lynx 4
OSK-W-21-1827-W5 1101.7 1104.7 3.0 37.4   UDD_4513 Underdog
including 1102.7 1103.7 1.0 85.9
  1135.0 1137.0 2.0 5.12   UDD_4514 Underdog
OSK-W-21-1827-W6 503.7 505.7 2.0 8.94 CA2_2231 Caribou
  507.5 510.4 2.9 15.7 CA2_2231 Caribou
including 507.5 508.4 0.9 42.2
  514.1 516.3 2.2 6.59   CA2_2231 Caribou
including 514.1 514.6 0.5 27.2
  523.8 526.1 2.3 5.53   CA2_2241 Caribou
including 524.8 525.3 0.5 19.6
OSK-W-21-1882-W5 903.3 905.6 2.3 16.4   UDD_4515 Underdog
including 903.3 904.2 0.9 39.6
  957.0 959.0 2.0 4.30   UDD_4501 Underdog
  1020.5 1023.0 2.5 19.2   UDD_4910 Underdog
including 1020.5 1021.4 0.9 52.4
OSK-W-21-1949-W7 746.4 748.5 2.1 27.0 14.5 LXM_3345 Lynx
including 746.4 746.7 0.3 187 100
  1082.0 1084.0 2.0 3.51   LX4_3430 Lynx 4
OSK-W-21-2067-W7 1089.6 1093.0 3.4 7.02   TLX_3162 Triple Lynx
OSK-W-21-2287-W4 1285.2 1288.6 3.4 86.8 42.1 LX4_3449 Lynx 4
including 1285.9 1286.2 0.3 448 100
and 1286.2 1286.5 0.3 215 100
OSK-W-21-2287-W5 1252.9 1254.9 2.0 8.28   LX4_3449 Lynx 4
  1308.0 1310.7 2.7 23.2   LX4_3445 Lynx 4
OSK-W-21-2470 965.0 969.8 4.8 42.1 34.9 TLX_3163 Triple Lynx
including 969.2 969.8 0.6 158 100
OSK-W-21-2479-W6 906.0 908.0 2.0 6.29   UDD_4502 Underdog
including 907.0 907.5 0.5 24.3
OSK-W-21-2479-W7 793.6 796.1 2.5 5.90   UDD_4107 Underdog
OSK-W-21-2479-W8 920.7 923.0 2.3 9.74   UDD_4502 Underdog
including 920.7 921.1 0.4 49.5
  959.8 961.8 2.0 8.06   UDD_4910 Underdog
OSK-W-21-2503-W4 967.1 972.6 5.5 29.0 23.3 TLX_3163 Triple Lynx
including 967.9 968.3 0.4 179 100
  990.0 992.0 2.0 17.8   TLX_3164 Triple Lynx
including 991.3 992.0 0.7 39.7
  1009.0 1011.0 2.0 141 20.1 TLX_3164 Triple Lynx
including 1009.7 1010.1 0.4 704 100
OSK-W-21-2522-W4 656.0 658.8 2.8 12.3   LXM_3304 Lynx
OSK-W-21-2531-W1 789.0 791.0 2.0 5.48   UDD_4111 Underdog
including 790.0 790.7 0.7 11.3
  823.0 825.0 2.0 5.91   UDD_4110 Underdog
  887.6 891.5 3.9 22.0 21.1 UDD_4101 Underdog
including 887.6 888.0 0.4 109 100
  896.0 898.0 2.0 12.0   UDD_4100 Underdog
including 897.5 898.0 0.5 31.6
  901.0 903.0 2.0 10.7   UDD_4100 Underdog
including 901.0 902.0 1.0 20.5
  905.7 908.0 2.3 108 43.7 UDD_4100 Underdog
including 905.7 906.7 1.0 247 100
  1070.4 1072.8 2.4 8.05   UDD_4501 Underdog
including 1072.1 1072.8 0.7 27.3
  1181.0 1183.9 2.9 9.72   UDD_4512 Underdog
including 1182.8 1183.1 0.3 53.0
OSK-W-21-2532-W1 567.9 570.3 2.4 24.2   CA2_2206 Caribou
including 569.2 570.3 1.1 51.6
  758.0 760.0 2.0 3.96   UDD_4121 Underdog
  783.0 785.0 2.0 5.54   UDD_4101 Underdog
  800.3 804.0 3.7 20.2   UDD_4101 Underdog
including 802.3 803.1 0.8 69.7
  807.9 810.0 2.1 22.5   UDD_4100 Underdog
  815.0 817.0 2.0 6.57   UDD_4120 Underdog
including 816.2 816.7 0.5 25.6
  971.0 973.0 2.0 8.53   UDD_4511 Underdog
including 971.0 971.5 0.5 30.0
OSK-W-21-2532-W2 828.0 830.1 2.1 40.8 34.2 UDD_4100 Underdog
including 829.1 829.6 0.5 128 100
  887.4 889.4 2.0 9.66   UDD_4106 Underdog
  953.0 955.0 2.0 6.26   UDD_4107 Underdog
  983.6 985.9 2.3 16.4   UDD_4511 Underdog
including 983.6 984.0 0.4 40.2
and 985.5 985.9 0.4 53.1
  1015.2 1017.5 2.3 4.76   UDD_4501 Underdog
OSK-W-21-2537 909.4 914.4 5.0 6.90   TLX_3171 Triple Lynx
including 912.4 913.4 1.0 14.9
  916.9 921.2 4.3 4.47   TLX_3171 Triple Lynx
  925.0 928.8 3.8 3.92   TLX_3171 Triple Lynx
  935.0 943.0 8.0 11.4   TLX_3161 Triple Lynx
including 939.4 940.4 1.0 42.6
  1018.0 1020.0 2.0 10.3   TLX_3164 Triple Lynx
including 1019.0 1019.5 0.5 30.6
OSK-W-21-2537-W1 559.0 561.0 2.0 5.91   TLX_3196 Triple Lynx
  586.8 589.0 2.2 11.2   TLX_3178 Triple Lynx
including 586.8 587.7 0.9 27.2
  901.0 903.0 2.0 4.91   TLX_3171 Triple Lynx
  912.6 924.0 11.4 17.3   TLX_3171 Triple Lynx
including 912.6 913.7 1.1 52.0
and 918.8 919.4 0.6 46.5
OSK-W-21-2544 987.6 989.6 2.0 3.72   TLX_3195 Triple Lynx
including 987.6 987.9 0.3 15.3
OSK-W-21-2548 721.0 723.0 2.0 22.5   CA2_2220 Caribou
including 721.0 721.6 0.6 73.8
OSK-W-21-2548-W1 758.0 760.0 2.0 3.86 CA2_2219 Caribou
including 759.0 760.0 1.0 7.67
OSK-W-21-2548-W2 757.0 759.0 2.0 83.0 53.0 CA2_2219 Caribou
including 757.0 758.0 1.0 160 100
  771.0 773.0 2.0 8.27   Caribou Caribou
OSK-W-21-2551-W1 837.1 840.1 3.0 10.8   LX4_3414 Lynx 4
OSK-W-21-2552 600.0 602.2 2.2 3.60   UDD_4914 Underdog
including 600.5 600.8 0.3 17.9
  615.8 617.9 2.1 22.0   UDD_4103 Underdog
including 616.6 617.5 0.9 51.0
OSK-W-21-2555 635.0 637.1 2.1 7.43   CA2_2223 Caribou
OSK-W-21-2556 139.0 141.0 2.0 12.0   F51_6008 F-51
OSK-W-21-2560 603.9 609.4 5.5 19.3 15.0 UDD_4914 Underdog
including 609.0 609.4 0.4 159 100
OSK-W-21-2561 555.0 557.0 2.0 3.88   TLX_3178 Triple Lynx
  659.9 662.9 3.0 16.0   TLX_3171 Triple Lynx
OSK-W-21-2562 656.2 658.2 2.0 5.48   CA2_2208 Caribou
  683.0 692.0 9.0 11.6   CA2_2217 Caribou
including 685.2 685.6 0.4 97.1
and 688.5 689.0 0.5 42.3
OSK-W-21-2566 134.0 136.0 2.0 4.81   F51_6008 F-51
OSK-W-21-2567 137.7 139.8 2.1 22.1   F51_6008 F-51
including 138.1 139.0 0.9 43.3
WST-21-0718 79.5 82.1 2.6 3.95   LXM_3304 Lynx
including 81.7 82.1 0.4 10.0
WST-21-0772 347.0 349.0 2.0 4.62   TLX_3166 Triple Lynx
including 348.4 349.0 0.6 14.6
WST-21-0797A 599.2 601.4 2.2 6.53   LX4_3429 Lynx 4
including 600.5 600.9 0.4 25.3
WST-21-0833 278.0 280.4 2.4 512 45.3 LHW_3201 Lynx HW
including 278.0 279.0 1.0 1220 100
WST-21-0835 281.0 283.0 2.0 4.67   LHW_3221 Lynx HW
  328.9 331.0 2.1 25.7   LHW_3215 Lynx HW
including 329.5 330.4 0.9 56.6
WST-21-0840 713.0 715.0 2.0 3.72   LX4_3412 Lynx 4
WST-21-0842 250.6 253.0 2.4 212 42.1 TLX_3161 Triple Lynx
including 251.1 251.6 0.5 917 100
WST-21-0850 83.0 85.4 2.4 6.47   LXM_3339 Lynx
including 85.0 85.4 0.4 16.7
  267.8 270.1 2.3 8.14   LSW_3500 Lynx SW
including 268.3 268.9 0.6 29.6
  326.8 329.3 2.5 10.2   TLX_3166 Triple Lynx
including 326.8 327.3 0.5 49.0
WST-21-0851A 168.6 170.7 2.1 13.4   LXM_3304 Lynx
including 169.1 169.4 0.3 87.5
  480.0 482.4 2.4 6.06   LX4_3430 Lynx 4
including 481.8 482.4 0.6 24.0
  518.6 521.0 2.4 5.93   LX4_3440 Lynx 4
including 518.6 519.4 0.8 16.4
  528.0 530.0 2.0 5.84   LX4_3434 Lynx 4
including 528.5 529.0 0.5 20.0
  590.0 592.2 2.2 4.93   LX4_3439 Lynx 4
including 590.0 590.6 0.6 16.1
WST-21-0852A 127.5 129.6 2.1 7.07   LXM_3334 Lynx
including 128.8 129.3 0.5 26.1
  420.1 422.3 2.2 3.98   LX4_3452 Lynx 4
including 420.6 421.3 0.7 11.3
  487.2 489.2 2.0 23.2   LX4_3450 Lynx 4
including 487.2 487.7 0.5 90.7
  648.0 650.0 2.0 11.1   LX4_3438 Lynx 4
including 649.3 649.6 0.3 34.7
  669.7 672.2 2.5 3.75   LX4_3415 Lynx 4
including 669.7 670.2 0.5 10.4
WST-21-0853A 289.3 291.3 2.0 6.49   TLX_3161 Triple Lynx
including 290.6 291.3 0.7 16.2
  347.6 349.7 2.1 6.72   TLX_3163 Triple Lynx
including 348.4 349.1 0.7 19.0
WST-21-0854A 185.9 188.0 2.1 57.6   TLX_3161 Triple Lynx
including 187.0 188.0 1.0 93.1
  300.0 302.1 2.1 4.59   TLX_3182 Triple Lynx
including 300.8 301.5 0.7 12.8
  353.7 356.0 2.3 3.91   TLX_3188 Triple Lynx
including 355.3 355.6 0.3 22.0
  654.0 656.0 2.0 10.6   LX4_3448 Lynx 4
including 654.8 655.2 0.4 48.1
WST-21-0869 357.0 359.0 2.0 12.4   TLX_3167 Triple Lynx
  510.6 512.9 2.3 6.91   LX4_3450 Lynx 4
WST-21-0870 288.6 290.6 2.0 13.8   LSW Lynx SW
including 289.8 290.2 0.4 51.0
  299.0 301.0 2.0 18.0   LSW Lynx SW
including 300.1 301.0 0.9 38.9
  329.9 335.0 5.1 19.3   LSW_3556 Lynx SW
including 332.4 332.7 0.3 84.6
WST-21-0871 324.6 327.0 2.4 4.45   TLX_3131 Triple Lynx
including 324.6 324.9 0.3 35.0

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, LHW = Lynx Hanging Wall, LSW = Lynx SouthWest, TLX = Triple Lynx and UDD = Underdog, CA2 = Caribou.

 

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-W5 895.5 898.0 2.5 5.81   LX4 Lynx 4
including 896.2 897.0 0.8 17.6
OSK-W-21-1827-W5 1087.0 1089.5 2.5 14.7   UDD Underdog
including 1087.0 1088.0 1.0 28.8
OSK-W-21-2287-W4 1304.8 1307.0 2.2 4.26   LX4 Lynx 4
including 1305.4 1305.7 0.3 19.0
  1373.0 1375.0 2.0 4.84   LX4 Lynx 4
OSK-W-21-2478-W5 555.0 557.0 2.0 4.90   Triple Lynx Triple Lynx
OSK-W-21-2479-W7 759.0 761.0 2.0 3.88   UDD Underdog
OSK-W-21-2513 256.2 259.0 2.8 3.95   F51 F51
OSK-W-21-2522-W4 697.0 700.0 3.0 4.68   Lynx Lynx
OSK-W-21-2532-W1 826.6 829.1 2.5 11.6   Underdog Underdog
including 827.6 828.2 0.6 47.4
OSK-W-21-2537 971.0 975.0 4.0 4.33   Triple Lynx Triple Lynx
OSK-W-21-2540-W1 1132.1 1134.4 2.3 4.47   Triple Lynx Triple Lynx
  1141.6 1143.7 2.1 4.27   Triple Lynx Triple Lynx
including 1143.4 1143.7 0.3 17.7
OSK-W-21-2546-W1 579.0 581.4 2.4 4.06   Caribou extension Caribou
including 580.0 580.4 0.4 23.0
  631.9 635.8 3.9 4.27   Caribou extension Caribou
including 631.9 632.2 0.3 14.6
and 635.1 635.8 0.7 13.2
  819.7 822.0 2.3 4.78   Caribou extension Caribou
including 819.7 820.5 0.8 11.0
OSK-W-21-2548 731.0 733.2 2.2 5.08   Caribou Caribou
OSK-W-21-2548-W1 790.8 792.8 2.0 5.99 Caribou Caribou
including 792.4 792.8 0.4 27.3
OSK-W-21-2549 461.0 463.0 2.0 13.4   Caribou Caribou
including 461.5 461.9 0.4 55.5
  641.5 645.0 3.5 11.5   Caribou Caribou
including 642.6 643.2 0.6 37.6
  705.4 708.0 2.6 14.7   Caribou Caribou
including 705.4 706.1 0.7 32.2
OSK-W-21-2555 610.0 612.3 2.3 3.70   Caribou Caribou
including 611.9 612.3 0.4 12.7
OSK-W-21-2559 656.0 658.0 2.0 5.86   Caribou Caribou
OSK-W-21-2562 649.9 654.8 4.9 22.4   Caribou Caribou
including 651.0 651.6 0.6 48.2
WST-21-0772 242.0 244.0 2.0 44.7   LSW Lynx SW
including 242.7 243.6 0.9 99.1
  249.0 251.0 2.0 3.63   LSW Lynx SW
including 249.5 249.8 0.3 23.3
WST-21-0831 160.8 163.0 2.2 4.45   LSW Lynx SW
including 160.8 161.4 0.6 15.8
  403.4 405.4 2.0 5.45   LSW Lynx SW
including 403.8 404.4 0.6 17.2
WST-21-0840 343.0 345.9 2.9 5.91   TLX Triple Lynx
  374.5 377.0 2.5 11.4   TLX Triple Lynx
WST-21-0850 417.7 420.0 2.3 42.5   LSW Lynx SW
including 417.7 418.5 0.8 95.6
WST-21-0852A 29.6 32.0 2.4 17.5   Lynx Lynx
including 29.6 30.2 0.6 65.8
  146.0 148.0 2.0 4.19   Lynx Lynx
including 146.3 146.7 0.4 20.4
WST-21-0854A 546.0 548.1 2.1 4.64   LX4 Lynx 4
WST-21-0871 570.9 573.0 2.1 9.34   LX4 Lynx 4

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2292-W6 125 -54 1110 453035 5435561 420 3500
OSK-W-20-2400 336 -53 1230 452878 5434419 401 2825
OSK-W-21-1432-W5 132 -55 1041 453811 5435779 400 4300
OSK-W-21-1827-W5 331 -58 1203 452506 5434390 403 2475
OSK-W-21-1827-W6 331 -58 1281 452506 5434390 403 2475
OSK-W-21-1882-W5 328 -58 1071 452469 5434405 400 2450
OSK-W-21-1949-W7 105 -57 1312 453440 5435479 401 3825
OSK-W-21-2067-W7 123 -53 1166 453241 5435697 416 3750
OSK-W-21-2287-W4 116 -53 1437 453607 5435714 404 4075
OSK-W-21-2287-W5 116 -53 1380 453607 5435714 404 4075
OSK-W-21-2470 132 -59 1230 453304 5435639 415 3775
OSK-W-21-2478-W5 128 -54 1166 452997 5435607 425 3500
OSK-W-21-2479-W6 344 -55 1014 452315 5434419 399 2325
OSK-W-21-2479-W7 344 -55 999 452315 5434419 399 2325
OSK-W-21-2479-W8 344 -55 1026 452315 5434419 399 2325
OSK-W-21-2503-W4 126 -58 1191 453333 5435641 413 3800
OSK-W-21-2513 147 -45 281 453518 5436030 405 4150
OSK-W-21-2522-W4 128 -54 1208 453451 5435594 411 3900
OSK-W-21-2531-W1 344 -62 1215 452566 5434415 403 2550
OSK-W-21-2532-W1 341 -60 1035 452480 5434428 401 2475
OSK-W-21-2532-W2 341 -60 1145 452480 5434428 401 2475
OSK-W-21-2537 114 -54 1243 452981 5435549 420 3450
OSK-W-21-2537-W1 114 -54 1020 452981 5435549 420 3450
OSK-W-21-2540-W1 117 -60 1200 453465 5435640 410 3925
OSK-W-21-2544 128 -50 1161 452960 5435539 419 3425
OSK-W-21-2546-W1 140 -58 843 452768 5435312 406 3150
OSK-W-21-2548 331 -57 774 452829 5434550 398 2850
OSK-W-21-2548-W1 331 -57 837 452829 5434550 398 2850
OSK-W-21-2548-W2 331 -57 801 452829 5434550 398 2850
OSK-W-21-2549 332 -58 723 452703 5434455 401 2675
OSK-W-21-2551-W1 120 -55 978 453622 5435635 405 4050
OSK-W-21-2552 335 -52 684 452404 5434674 400 2525
OSK-W-21-2555 329 -59 741 452728 5434472 401 2700
OSK-W-21-2556 124 -50 198 453426 5435858 405 4000
OSK-W-21-2559 327 -51 825 452829 5434550 398 2850
OSK-W-21-2560 333 -53 684 452404 5434674 400 2525
OSK-W-21-2561 142 -51 801 452886 5435484 409 3350
OSK-W-21-2562 331 -56 753 452733 5434488 401 2725
OSK-W-21-2566 178 -58 189 453426 5435858 405 4000
OSK-W-21-2567 146 -60 186 453426 5435858 405 4000
WST-21-0718 162 0 100 453359 5435194 83 3625
WST-21-0772 148 -68 411 453104 5435065 231 3325
WST-21-0797A 138 -46 751 453321 5435235 54 3600
WST-21-0831 157 -63 526 452954 5435003 253 3175
WST-21-0833 122 -16 334 453463 5435327 32 3775
WST-21-0835 122 -27 385 453462 5435327 32 3775
WST-21-0840 143 -48 778 453258 5435209 96 3525
WST-21-0842 156 -69 445 453506 5435327 -7 3800
WST-21-0850 151 -64 532 453105 5435065 231 3325
WST-21-0851A 123 -40 618 453507 5435332 -48 3800
WST-21-0852A 141 -43 709 453321 5435236 54 3600
WST-21-0853A 150 -72 376 453505 5435328 -5 3800
WST-21-0854A 134 -41 724 453374 5435296 -26 3675
WST-21-0869 142 -47 622 453258 5435210 96 3525
WST-21-0870 134 -56 360 453106 5435066 231 3325
WST-21-0871 140 -50 582 453321 5435236 54 3600

 

Caribou Zone

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

Underdog

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

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.

 

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 infill EN 20210907

Long Section Expan EN 20210907

PR_EN_20210907_Surface

PR_EN_20210907_UG

OSISKO DRILLING RETURNS 2181 g/t Au OVER 2.5 METRES IN LYNX

293 g/t Au Over 4.0 Metres in Zone 27

(Toronto, August 3, 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 73 intercepts in 22 drill holes (6 from surface, 16 from underground) and 16 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: “Windfall once again delivers outstanding results across the deposit. Six of our top results this week are greater than 200 g/t Au over 2.0 metres and three of these intervals have sub-intervals between two to six kilograms of gold per ton. These six holes are infill holes, once again confirming the high-grade nature of the deposit. Expansion drilling is also delivering; OSK-W-21-1949-W6 is 80 metres from the nearest resource block in the Lynx 4 corridor”.

Selected high-grade intercepts include: 2181 g/t Au over 2.5 metres and 403 g/t Au over 2.2 metres  in OSK-W-21-2287-W1; 293 g/t Au over 4.4 metres in WST-21-0814; 350 g/t Au over 2.1 metres in OSK-W-21-2470-W6; 209 g/t Au over 2.9 metres in OSK-W-21-1432-W4; 218 g/t Au over 2.0 metres in OSK-W-21-2503-W2; 91.0 g/t Au over 3.8 metres in OSK-W-21-1432-W3; 82.1 g/t Au over 3.2 metres in WST-21-0811A; 89.0 g/t Au over 2.6 metres in OSK-W-21-2509; 94.2 g/t Au over 2.1 metres in OSK-W-21-2492-W5. 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-21-1432-W3 1033.4 1037.2 3.8 91.0 41.3 LX4_3446 Lynx 4
including 1033.4 1034.3 0.9 304 100
OSK-W-21-1432-W4 866.0 868.9 2.9 209 65.9 LX4_3424 Lynx 4
including 867.0 867.9 0.9 480 100
OSK-W-21-1827-W3 946.0 948.4 2.4 5.84   UDD_4515 Underdog
including 947.4 947.9 0.5 27.2
OSK-W-21-1949-W5 643.2 648.0 4.8 8.18 LXM_3304 Lynx
including 645.3 645.9 0.6 25.5
1095.0 1097.2 2.2 7.28   LX4_3430 Lynx 4
OSK-W-21-2067-W9 1136.0 1138.3 2.3 36.4 23.7 TLX_3172 Triple Lynx
including 1137.5 1137.8 0.3 198 100
OSK-W-21-2287-W1 1209.9 1212.4 2.5 2181 57.4 LX4_3449 Lynx 4
including 1210.4 1211.3 0.9 5950 100
1215.0 1217.2 2.2 403 99.3 LX4_3449 Lynx 4
including 1216.1 1217.2 1.1 708 100
OSK-W-21-2287-W2 1149.7 1152.1 2.4 6.15   LX4_3455 Lynx 4
including 1151.3 1152.1 0.8 16.4
  1245.0 1248.4 3.4 4.54   LX4_3449 Lynx 4
  1262.4 1264.7 2.3 40.9 30.4 LX4_3445 Lynx 4
including 1264.1 1264.7 0.6 140 100
1278.6 1280.7 2.1 57.0 34.1 LX4_3445 Lynx 4
including 1279.0 1279.7 0.7 169 100
OSK-W-21-2470-W6 812.5 814.7 2.2 4.27   TLX_3173 Triple Lynx
958.0 960.1 2.1 350 36.0 TLX_3163 Triple Lynx
including 959.8 960.1 0.3 2300 100
  967.0 969.5 2.5 10.1   TLX_3163 Triple Lynx
  1037.0 1039.0 2.0 5.73   TLX_3162 Triple Lynx
1044.0 1046.2 2.2 10.3   TLX_3170 Triple Lynx
including 1045.6 1045.9 0.3 50.1
1081.0 1083.0 2.0 5.45 TLX_3172 Triple Lynx
including 1082.3 1082.6 0.3 23.1
OSK-W-21-2492-W5 788.7 790.8 2.1 94.2 55.2 LX4_3424 Lynx 4
including 789.5 789.9 0.4 239 100
OSK-W-21-2503-W2 1121.0 1123.0 2.0 218 37.3 TLX_3172 Triple Lynx
including 1121.7 1122.4 0.7 617 100
OSK-W-21-2528-W1 625.2 627.3 2.1 4.35   UDD_4914 Underdog
OSK-W-21-2531 1086.5 1092.0 5.5 3.57   UDD_4501 Underdog
OSK-W-21-2532 764.0 767.7 3.7 7.35   UDD_4116 Underdog
including 767.0 767.7 0.7 19.9
  997.0 999.0 2.0 5.04   UDD_4501 Underdog
  1023.0 1027.0 4.0 9.34   UDD_4502 Underdog
including 1024.1 1024.5 0.4 48.6
1032.0 1034.0 2.0 4.05   UDD_4513 Underdog
including 1032.9 1033.3 0.4 17.0
OSK-W-21-2534 984.0 986.1 2.1 7.81   UDD_4106 Underdog
including 985.2 985.5 0.3 49.8
1018.4 1020.4 2.0 16.1   UDD_4515 Underdog
including 1019.8 1020.1 0.3 75.7
OSK-W-21-2537 583.9 585.9 2.0 3.96   TLX_3178 Triple Lynx
OSK-W-21-2541 196.0 198.0 2.0 11.5   F51_6010 F-51
including 196.9 197.5 0.6 37.9
210.0 212.5 2.5 7.42   F51_6008 F-51
WST-21-0679 314.7 317.0 2.3 4.79   TLX_3131 Triple Lynx
WST-21-0726 235.7 237.8 2.1 32.9   TLX_3161 Triple Lynx
WST-21-0763A 503.0 505.0 2.0 5.08   LX4_3434 Lynx 4
including 507.0 509.0 2.0 3.73 LX4_3434 Lynx 4
WST-21-0794 266.3 268.3 2.0 22.7   LHW_3201 Lynx HW
including 267.2 267.8 0.6 68.7
WST-21-0797A 486.0 489.9 3.9 4.92   LX4_3450 Lynx 4
694.0 696.4 2.4 24.1   LX4 Lynx 4
including 694.6 695.0 0.4 96.8
  716.9 720.6 3.7 6.16   LX4_3415 Lynx 4
  724.0 726.0 2.0 39.5 32.1 LX4_3415 Lynx 4
including 725.7 726.0 0.3 149 100
WST-21-0811A 209.0 211.0 2.0 73.4 55.0 TLX_3161 Triple Lynx
including 210.0 210.5 0.5 158 100
310.0 313.2 3.2 82.1 34.2 TLX_3182 Triple Lynx
including 312.5 313.2 0.7 304 100
WST-21-0814 83.1 87.5 4.4 293 17.1 Z27_1102 Zone 27
including 83.1 83.5 0.4 3140 100
WST-21-0814A 67.3 69.7 2.4 27.2 22.4 Z27_1115 Zone 27
including 68.1 68.6 0.5 123 100
75.1 77.5 2.4 8.13   Z27_1102 Zone 27
including 76.3 76.6 0.3 46.4
WST-21-0817 74.0 76.0 2.0 4.64   Z27_1115 Zone 27
WST-21-0823 451.7 454.0 2.3 4.57   LX4_3430 Lynx 4
WST-21-0829 556.0 558.0 2.0 28.0   LX4_3450 Lynx 4
including 556.4 557.0 0.6 92.5
WST-21-0838 267.0 269.0 2.0 13.0   LSW_3506 Lynx SW
including 267.5 268.0 0.5 50.8
WST-21-0841 349.9 352.0 2.1 19.1   TLX_3166 Triple Lynx
including 350.5 351.5 1.0 39.6

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. Z27 = Zone 27, 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-21-777-W2 627.6 629.6 2.0 9.53   Caribou Caribou
including 628.0 628.8 0.8 21.4    
OSK-W-21-1432-W4 907.8 910.0 2.2 16.4   LX4 Lynx 4
including 908.6 909.0 0.4 59.1
915.1 917.8 2.7 23.0 LX4 Lynx 4
including 916.2 917.0 0.8 60.9
OSK-W-21-1827-W4 548.0 550.1 2.1 7.94 Caribou Caribou
including 549.3 550.1 0.8 20.6
OSK-W-21-1949-W6 1175.0 1177.0 2.0 13.2 LX4 Lynx 4
including 1175.5 1176.0 0.5 30.1
OSK-W-21-2470-W6 927.0 929.2 2.2 4.18 TLX Triple Lynx
OSK-W-21-2478-W6 857.7 860.1 2.4 17.0 TLX_3171 Triple Lynx
including 859.4 860.1 0.7 54.8
OSK-W-21-2479-W5 754.5 757.4 2.9 35.7 23.0 Underdog Underdog
including 754.5 755.1 0.6 162 100
OSK-W-21-2503-W2 1142.5 1144.6 2.1 85.7 15.4 TLX Triple Lynx
including 1144.0 1144.3 0.3 592 100
OSK-W-21-2509 619.1 621.7 2.6 89.0 44.3 Triple Lynx Triple Lynx
including 620.3 621.0 0.7 266 100
OSK-W-21-2531 1035.0 1037.0 2.0 4.11   Underdog Underdog
including 1035.7 1036.1 0.4 17.2
1173.0 1176.6 3.6 5.85   UDD Underdog
including 1173.0 1174.0 1.0 15.9
OSK-W-21-2532 935.0 937.5 2.5 8.95   Underdog Underdog
including 936.5 936.9 0.4 41.6
1012.8 1015.0 2.2 25.3   UDD Underdog
including 1012.8 1013.3 0.5 97.6
OSK-W-21-2534 887.4 889.6 2.2 3.90   Underdog Underdog
WST-21-0726 337.3 339.4 2.1 24.4 17.6 TLX Triple Lynx
including 338.3 338.6 0.3 148 100
348.7 351.0 2.3 17.7   TLX_3131 Triple Lynx
including 349.1 349.9 0.8 49.9
WST-21-0776 229.6 231.6 2.0 10.0   Triple Lynx Triple Lynx
including 230.9 231.6 0.7 28.2
WST-21-0811A 471.8 474.5 2.7 3.60   LX4 Lynx 4
WST-21-0823 445.0 447.0 2.0 5.10   LX4 Lynx 4
WST-21-0826 347.9 350.0 2.1 13.8   TLX_3166 Triple Lynx
including 348.4 348.7 0.3 57.3
WST-21-0842 323.3 325.7 2.4 14.7 12.8 TLX Triple Lynx
including 323.3 323.6 0.3 116 100
333.8 337.3 3.5 5.28   TLX Triple Lynx
including 335.4 336.0 0.6 12.8
344.7 347.0 2.3 5.75   Triple Lynx Triple Lynx
including 346.2 347.0 0.8 15.4

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-777-W2 330 -59 1170 452678 5434500 403 2675
OSK-W-21-1432-W3 132 -55 1094 453811 5435779 400 4300
OSK-W-21-1432-W4 132 -55 1053 453811 5435779 400 4300
OSK-W-21-1827-W3 331 -58 1251 452506 5434390 403 2475
OSK-W-21-1827-W4 331 -58 1046 452506 5434390 403 2475
OSK-W-21-1949-W5 105 -57 1301 453440 5435479 401 3825
OSK-W-21-1949-W6 105 -57 1227 453440 5435479 401 3825
OSK-W-21-2067-W9 123 -53 1164 453241 5435697 416 3750
OSK-W-21-2287-W1 116 -53 1374 453607 5435714 404 4075
OSK-W-21-2287-W2 116 -53 1392 453607 5435714 404 4075
OSK-W-21-2470-W6 132 -59 1119 453304 5435639 415 3775
OSK-W-21-2478-W6 128 -54 948 452997 5435607 425 3500
OSK-W-21-2479-W5 344 -55 978 452315 5434419 399 2325
OSK-W-21-2492-W5 122 -53 888 453687 5435676 401 4125
OSK-W-21-2503-W2 126 -58 1199 453333 5435641 413 3800
OSK-W-21-2509 132 -56 663 452825 5435340 414 3225
OSK-W-21-2528-W1 333 -54 720 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-21-2534 343 -59 1203 452549 5434363 401 2500
OSK-W-21-2537 114 -54 1243 452981 5435549 420 3450
OSK-W-21-2541 149 -47 285 453541 5436007 405 4175
WST-21-0679 145 -46 441 453257 5435209 96 3525
WST-21-0726 149 -64 454 453507 5435327 -7 3800
WST-21-0763A 120 -39 567 453507 5435332 -47 3800
WST-21-0776 160 -44 376 453257 5435209 96 3525
WST-21-0794 121 -11 315 453463 5435327 33 3775
WST-21-0797A 138 -46 751 453321 5435235 54 3600
WST-21-0811A 125 -44 708 453375 5435296 -26 3675
WST-21-0814 154 -6 96 451960 5434734 249 2175
WST-21-0814A 154 5 97 451960 5434734 250 2175
WST-21-0817 169 -10 111 451958 5434734 249 2175
WST-21-0823 120 -35 545 453507 5435332 -47 3800
WST-21-0826 129 -59 403 453106 5435066 231 3325
WST-21-0829 131 -49 576 453258 5435209 96 3525
WST-21-0838 131 -56 366 453106 5435066 231 3325
WST-21-0841 125 -65 438 453106 5435066 231 3325
WST-21-0842 156 -69 445 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.

 

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.

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.

 

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 20210803

Long Section Ex EN 20210803

PR_EN_20210803_Surface

PR_EN_20210803_UG

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