OSISKO CONTINUES TO ADD HIGH-GRADE AT LYNX

184 g/t Au Over 2.1 Metres

34.1 g/t Au over 7.1 Metres

(Toronto, June 17, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

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

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

Selected high-grade intercepts include: 184 g/t Au over 2.1 metres in OSK-W-21-2480-W3; 34.1 g/t Au over 7.1 metres in OSK-W-21-2495-W1, 94.1 g/t Au over 2.0 metres in OSK-W-21-2487-W4, 40.3 g/t Au over 4.0 metres and 41.2 g/t Au over 2.9 metres in OSK-W-21-2067-W7; 36.0 g/t Au over 4.0 metres in OSK-W-21-2503; and 41.0 g/t Au over 2.5 metres in OSK-W-21-2465-W2. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

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

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

Expansion Drilling

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

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

 

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-2067-W7 123 -53 1166 453241 5435697 416 3750
OSK-W-21-2275-W5 127 -49 1242 452888 5435583 409 3400
OSK-W-21-2391-W3 117 -57 1566 453281 5435894 408 3900
OSK-W-21-2391-W4 117 -57 1212 453281 5435894 408 3900
OSK-W-21-2465-W2 123 -61 831 453397 5435557 413 3825
OSK-W-21-2470-W2 132 -59 1197 453304 5435639 415 3775
OSK-W-21-2470-W3 132 -59 1209 453304 5435639 415 3775
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2478-W4 127 -53 744 452997 5435607 425 3500
OSK-W-21-2480-W2 121 -55 789 453412 5435633 412 3875
OSK-W-21-2480-W3 121 -55 810 453412 5435633 412 3875
OSK-W-21-2480-W4 121 -55 780 453412 5435633 412 3875
OSK-W-21-2487-W4 359 -73 768 454135 5435058 397 4225
OSK-W-21-2492-W3 122 -53 720 453687 5435676 401 4125
OSK-W-21-2495-W1 123 -54 1301 453426 5435565 410 3850
OSK-W-21-2503 126 -58 1080 453333 5435641 413 3800
OSK-W-21-2522 128 -54 450 453451 5435594 411 3900
WST-21-0650 139 -60 466 452954 5435003 253 3175
WST-21-0661 163 -34 253 452954 5435003 254 3175
WST-21-0663 164 -40 214 452954 5435003 253 3175
WST-21-0681 160 -43 721 453322 5435235 55 3600
WST-21-0684 150 -44 301 452955 5435003 253 3175
WST-21-0725 160 -67 391 453506 5435327 -7 3800
WST-21-0727A 146 -69 361 453507 5435327 -7 3800
WST-21-0734A 129 -56 360 452956 5435003 253 3175
WST-21-0736 146 -53 448 452955 5435003 253 3175
WST-21-0767 175 -55 354 453104 5435065 231 3325
WST-21-0768 169 -53 453 453104 5435065 231 3325
WST-21-0769 171 -49 396 453103 5435064 231 3325
WST-21-0774 148 -40 724 453373 5435296 -26 3675
WST-21-0777 144 -49 352 452954 5435003 253 3175
WST-21-0781 129 -59 283 453508 5435327 -7 3800
WST-21-0782 123 -36 207 453508 5435327 -7 3800
WST-21-0783 119 -28 201 453508 5435327 -6 3800
WST-21-0787 143 -46 517 453320 5435235 54 3600
WST-21-0790 171 -65 64 453104 5435065 231 3325
WST-21-0803 162 -44 364 453356 5435271 16 3650

 

Lynx Zone

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

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO HITS NEW DISCOVERY ONE KILOMETRE NORTH OF WINDFALL

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

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

 

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

 

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

 

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

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

Discovery Hole OSK-UB-21-232

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

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

 

Discovery Hole Location

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

 

Golden Bear Discovery

Mineralization is hosted in an altered andesite and occurs as pyrrhotite replacement in grey to translucent pervasive silica and quartz-carbonate-pyrrhotite veins. Replacement mineralization is associated with strong pervasive silica alteration and contains trace to 15% disseminated and clustered pyrrhotite with local visible gold and trace amounts of sphalerite-chalcopyrite. Vein-type mineralization is associated with a halo of pervasive sericite-chlorite ± ankerite alteration containing sulphides (predominantly pyrrhotite with trace sphalerite, chalcopyrite, pyrite, galena and arsenopyrite) and local visible gold.

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

 

OSISKO INFILL DRILLING RETURNS HIGH GRADE AT LYNX

248 g/t Au Over 2.2 Metres

164 g/t Au over 2.2 Metres

(Toronto, June 8, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 34 intercepts in 15 underground drill holes and 8 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021).

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

Selected high-grade intercepts include: 248 g/t Au over 2.2 metres in WST-21-0750; 164 g/t Au over 2.2 metres in OSK-W-21-2492-W1, 128 g/t Au over 2.3 metres in OSK-W-21-2067-W6, 56.5 g/t Au over 2.9 metres in WST-21-0655 and 46.8 g/t Au over 2.6 metres in WST-21-0727A. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-21-2067-W6 1078.7 1080.8 2.1 4.77   TLX_3162 Triple Lynx
1095.7 1098.0 2.3 128 19.0 TLX_3170 Triple Lynx
including 1095.7 1096.1 0.4 725 100
OSK-W-21-2275-W5 909.0 911.0 2.0 24.7   TLX_3129 Triple Lynx
including 910.0 911.0 1.0 47.6
918.0 920.0 2.0 36.9 21.5 TLX_3129 Triple Lynx
including 918.9 919.3 0.4 177 100
OSK-W-21-2478-W1 583.0 588.0 5.0 4.10   TLX_3178 Triple Lynx
including 587.0 588.0 1.0 13.1
OSK-W-21-2478-W3 901.0 903.0 2.0 9.94   TLX_3161 Triple Lynx
including 902.0 903.0 1.0 19.8
OSK-W-21-2487-W3 674.3 676.3 2.0 19.8   LX4_3414 Lynx 4
OSK-W-21-2492-W1 771.0 773.2 2.2 164 18.4 LX4_3414 Lynx 4
including 771.8 772.2 0.4 902 100
OSK-W-21-2492-W2 759.0 762.0 3.0 4.22   LX4_3424 Lynx 4
including 761.2 762.0 0.8 14.7
794.0 796.0 2.0 4.40   LX4_3414 Lynx 4
OSK-W-21-2495-W1 668.0 670.0 2.0 28.0   LXM_3304 Lynx
including 669.6 670.0 0.4 60.5
675.3 678.0 2.7 34.4   LXM_3304 Lynx
including 675.3 676.2 0.9 89.7
WST-21-0653A 362.0 364.2 2.2 12.8   LXSW_3556 Lynx
including 362.4 363.2 0.8 33.3
WST-21-0655 299.0 301.9 2.9 56.5 32.1 Lynx SW Lynx SW
including 301.0 301.9 0.9 179 100
WST-21-0664 85.2 88.0 2.8 34.7 25.2 LXM_3307 Lynx
including 85.2 85.9 0.7 138 100
477.8 479.9 2.1 11.0   LX4_3450 Lynx 4
including 479.1 479.9 0.8 24.8
WST-21-0681 290.0 292.0 2.0 4.71   TLX_3131 Triple Lynx
including 291.4 292.0 0.6 15.0
321.0 323.0 2.0 6.38   TLX_3167 Triple Lynx
including 321.4 321.8 0.4 31.5
482.0 484.2 2.2 10.8   LX4_3450 Lynx 4
WST-21-0705A 243.3 245.3 2.0 4.56   LXSW_3500 Lynx SW
including 244.6 245.3 0.7 13.0
WST-21-0718 25.9 28.0 2.1 15.0   LXM_3303 Lynx
including 26.7 27.3 0.6 47.4
88.7 90.7 2.0 26.7   LXM_3304 Lynx
including 88.7 89.4 0.7 69.0
WST-21-0719 88.7 90.7 2.0 17.0   LXM_3304 Lynx
including 89.3 90.0 0.7 48.2
WST-21-0727A 260.1 262.7 2.6 46.8 22.0 TLX_3161 Triple Lynx
including 261.2 261.7 0.5 229 100
WST-21-0750 232.6 234.8 2.2 248 55.6 TLX_3161 Triple Lynx
including 233.8 234.3 0.5 740 100
WST-21-0755 318.0 320.0 2.0 4.92   TLX_3131 Triple Lynx
including 319.2 320.0 0.7 12.0
WST-21-0757 200.5 202.7 2.2 21.9   LXSW_3506 Lynx
including 201.0 201.3 0.3 75.2
255.0 257.0 2.0 11.3   TLX_3131 Triple Lynx
including 256.3 257.0 0.7 31.8
272.6 275.0 2.4 4.69   TLX_3166 Triple Lynx
357.0 359.5 2.5 34.8 19.4 TLX_3165 Triple Lynx
including 358.3 358.7 0.4 197 100
WST-21-0762 98.3 100.4 2.1 4.54   LXM_3311 Lynx
including 98.7 99.4 0.7 11.6
WST-21-0768 281.0 283.0 2.0 12.8   LXSW_3556 Lynx
including 281.3 281.6 0.3 77.7
WST-21-0769 268.0 270.0 2.0 8.16   LXSW_3556 Lynx SW
including 268.7 269.6 0.9 17.9
WST-21-0787 489.0 491.1 2.1 10.3   LX4_3450 Lynx 4
including 490.3 490.7 0.4 53.4

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

.

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-2067-W6 123 -53 1281 453241 5435697 416 3750
OSK-W-21-2275-W5 127 -49 1242 452888 5435583 409 3400
OSK-W-21-2478-W1 128 -54 764 452997 5435607 425 3500
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2487-W3 359 -73 762 454135 5435058 397 4225
OSK-W-21-2492-W1 122 -53 843 453687 5435676 401 4125
OSK-W-21-2492-W2 122 -53 879 453687 5435676 401 4125
OSK-W-21-2495-W1 123 -54 1301 453426 5435565 410 3850
WST-21-0653A 155 -65 427 453104 5435065 231 3325
WST-21-0655 162 -63 402 453104 5435065 231 3325
WST-21-0664 140 -51 760 453229 5435127 134 3475
WST-21-0681 160 -43 721 453322 5435235 55 3600
WST-21-0705A 161 -57 351 453104 5435065 231 3325
WST-21-0718 162 0 100 453359 5435195 84 3625
WST-21-0719 163 -4 100 453359 5435194 83 3625
WST-21-0727A 146 -69 361 453507 5435327 -7 3800
WST-21-0750 124 -54 280 453357 5435273 15 3650
WST-21-0755 158 -48 358 453356 5435272 15 3650
WST-21-0757 145 -50 706 453228 5435126 135 3475
WST-21-0762 136 -60 381 453105 5435065 231 3325
WST-21-0768 169 -53 453 453104 5435065 231 3325
WST-21-0769 171 -49 396 453103 5435064 231 3325
WST-21-0787 143 -46 517 453320 5435235 54 3600

 

Lynx Zone

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

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO ANNOUNCES ANNUAL SHAREHOLDER MEETING RESULTS

 

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

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

Further details on the above matters, including the report of voting results thereon, are available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

About Osisko Mining Inc.

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

 

For further information please contact:

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

OSISKO CONTINUES TO ADD HIGH GRADE AT LYNX

280 g/t Au Over 2.2 Metres in Lynx

(Toronto, May 26, 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 55 intercepts in 18 drill holes (3 from surface, 15 from underground) and 9 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 located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s infill and expansion drilling results continue to return high grade intervals. Of note is hole OSK-W-21-2391-W3 which again extends Triple Lynx down plunge (initially extended OSK-W-21-2391, see March 17, 2021 news release).”

Selected high-grade intercepts include: 280 g/t Au over 2.0 metres in WST-21-0712; 69.3 g/t Au over 2.0 metres in OSK-W-21-2498, 23.9 g/t Au over 5.1 metres in OSK-W-21-2067-W6, 25.4 g/t Au over 4.7 metres in OSK-W-21-2480, 44.4 g/t Au over 2.5 metres in OSK-W-21-2473, 26.3 g/t Au over 3.8 metres in OSW-W-21-2492-W1, 39.3 g/t Au over 2.3 metres in WST-21-0756, 12.6 g/t Au over 3.7 metres in OSK-W-2391-W3 and 21.0 g/t Au over 2.0 metres in WST-21-0751. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-21-2067-W6 1010.9 1013.1 2.2 4.61   TLX_3183 Triple Lynx
including 1010.9 1011.2 0.3 13.1  
  1015.0 1017.0 2.0 3.82   TLX_3183 Triple Lynx
including 1016.0 1016.4 0.4 13.1  
  1032.5 1034.5 2.0 6.53   TLX_3163 Triple Lynx
  1108.9 1114.0 5.1 23.9   TLX_3172 Triple Lynx
including 1109.2 1110.2 1.0 48.4  
  1119.0 1121.0 2.0 9.48   TLX_3172 Triple Lynx
  1129.7 1131.9 2.2 34.2 14.9 TLX_3172 Triple Lynx
including 1131.0 1131.3 0.3 241 100
OSK-W-21-2275-W5 800.8 807.5 6.7 5.20   TLX_3171 Triple Lynx
including 800.8 801.1 0.3 31.3  
and 806.8 807.5 0.7 17.0  
  809.0 811.0 2.0 4.57   TLX_3171 Triple Lynx
including 809.8 810.2 0.4 15.0  
  826.6 828.6 2.0 4.53   TLX_3184 Triple Lynx
including 827.0 827.4 0.4 19.3  
OSK-W-21-2416-W4 951.6 954.6 3.0 6.74   TLX_3171 Triple Lynx
  968.9 971.0 2.1 15.6   TLX_3161 Triple Lynx
including 968.9 969.6 0.7 41.4  
  992.0 994.0 2.0 12.5   TLX_3164 Triple Lynx
including 992.0 992.5 0.5 48.1  
OSK-W-21-2470-W2 886.0 889.0 3.0 23.4   TLX_3163 Triple Lynx
including 886.9 887.4 0.5 90.4  
OSK-W-21-2480 1111.0 1113.2 2.2 23.6   LX4_3430 Lynx 4
including 1112.0 1112.6 0.6 49.5  
  1119.5 1124.2 4.7 25.4   LX4_3430 Lynx 4
including 1119.5 1120.4 0.9 65.3  
OSK-W-21-2480-W2 731.5 733.5 2.0 13.5   LXM_3304 Lynx
including 731.8 732.5 0.7 38.4  
OSK-W-21-2487-W2 667.0 669.0 2.0 11.0   LX4_3424 Lynx 4
including 667.6 667.9 0.3 70.6  
OSK-W-21-2492-W1 765.2 769.0 3.8 26.3   LX4_3424 Lynx 4
including 768.5 769.0 0.5 64.3  
OSK-W-21-2498 779.9 782.0 2.1 10.2   TLX_3199 Triple Lynx
including 780.3 781.0 0.7 28.3  
  825.7 827.7 2.0 69.3 35.1 TLX_3195 Triple Lynx
including 826.2 826.8 0.6 214 100
WST-21-0651 323.7 325.7 2.0 31.5   LXSW_3556 Lynx
including 324.3 325.1 0.8 77.9  
  335.0 337.0 2.0 15.7   LXSW_3502 Lynx
including 335.7 336.4 0.7 44.8  
WST-21-0653A 368.8 371.3 2.5 24.9   LXSW_3556 Lynx
  376.0 378.0 2.0 11.4   LXSW_3556 Lynx
including 376.0 377.0 1.0 22.8  
WST-21-0696 48.2 50.8 2.6 3.82   LXM_3339 Lynx
WST-21-0712 78.0 80.0 2.0 280 25.3 LXM_3304 Lynx
including 78.8 79.3 0.5 1120 100
WST-21-0715 79.0 81.0 2.0 8.56   LXM_3304 Lynx
including 80.1 81.0 0.9 19.0  
WST-21-0751 222.7 225.7 3.0 7.04   TLX_3161 Triple Lynx
  232.5 234.9 2.4 9.44   TLX_3161 Triple Lynx
including 233.5 233.9 0.4 50.6  
WST-21-0752 207.0 209.2 2.2 14.5   TLX_3161 Triple Lynx
WST-21-0760 356.4 359.4 3.0 9.13   TLX_3165 Triple Lynx
including 359.0 359.4 0.4 44.8  
WST-21-0806 178.3 181.0 2.7 32.1   LXM_3304 Lynx
including 179.9 181.0 1.1 74.8  

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

 

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-21-2275-W5 584.9 587.0 2.1 5.00   Triple Lynx Triple Lynx
OSK-W-21-2391-W3 1383.3 1387.0 3.7 12.6 11.9 TLX_3172 Triple Lynx
including 1383.3 1383.6 0.3 109 100
OSK-W-21-2416-W4 987.4 989.5 2.1 4.53   Triple Lynx Triple Lynx
including 987.4 987.8 0.4 23.6  
OSK-W-21-2470-W2 913.0 915.0 2.0 5.14   Triple Lynx Triple Lynx
OSK-W-21-2473 679.5 682.0 2.5 44.4 33.8 Lynx Lynx
including 680.3 681.1 0.8 133 100
  842.0 844.0 2.0 6.88   Triple Lynx  Triple Lynx
OSK-W-21-2478-W3 553.4 555.6 2.2 9.58   Triple Lynx Triple Lynx
OSK-W-21-2480-W2 689.2 691.6 2.4 4.68   Lynx Lynx
including 690.0 690.6 0.6 10.9  
OSK-W-21-2498 835.0 837.0 2.0 4.40   Triple Lynx Triple Lynx
  899.0 901.2 2.2 7.73   Triple Lynx Triple Lynx
including 899.0 899.3 0.3 24.2  
  986.0 988.0 2.0 3.83   Triple Lynx Triple Lynx
including 986.7 987.0 0.3 13.4  
WST-21-0640A 79.6 82.0 2.4 3.52   LXM_3361 Lynx
including 79.6 80.3 0.7 9.79  
WST-21-0680 474.0 476.1 2.1 4.68   Lynx 4 Lynx
including 475.4 475.8 0.4 23.9  
  476.9 479.0 2.1 7.35   Lynx 4 Lynx
including 478.2 478.5 0.3 43.1  
WST-21-0694 303.0 305.0 2.0 4.83   Lynx SW Lynx SW
including 304.3 304.6 0.3 28.7  
WST-21-0751 268.1 270.1 2.0 21.0 15.2 Triple Lynx Triple Lynx
including 269.5 269.8 0.3 139 100
WST-21-0756 158.7 161.0 2.3 39.3 28.0 Lynx Lynx
including 159.2 159.8 0.6 144 100
WST-21-0760 192.3 194.5 2.2 16.7   Lynx Lynx
including 193.3 193.8 0.5 72.9  
  314.7 317.5 2.8 3.67   Triple Lynx Triple Lynx
including 314.7 315.0 0.3 13.6  
WST-21-0761 300.8 303.0 2.2 3.77   Triple Lynx Triple Lynx
  363.0 365.0 2.0 3.74   Triple Lynx Triple Lynx
including 363.0 363.7 0.7 10.1  
WST-21-0786 30.6 32.6 2.0 5.04   Lynx Lynx
WST-21-0806 202.1 205.9 3.8 10.5   Lynx Lynx

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-21-2067-W6 123 -53 1281 453241 5435697 416 3750
OSK-W-21-2275-W5 127 -49 1242 452888 5435583 409 3400
OSK-W-21-2391-W3 117 -57 1566 453281 5435894 408 3900
OSK-W-21-2416-W4 123 -54 1125 453169 5435624 412 3650
OSK-W-21-2470-W2 132 -59 1197 453304 5435639 415 3775
OSK-W-21-2473 123 -56 1272 453420 5435610 413 3875
OSK-W-21-2478-W3 128 -54 1080 452997 5435607 425 3500
OSK-W-21-2480 121 -55 1230 453412 5435633 412 3875
OSK-W-21-2480-W2 121 -55 789 453412 5435633 412 3875
OSK-W-21-2487-W2 359 -73 777 454135 5435058 397 4225
OSK-W-21-2492-W1 122 -53 843 453687 5435676 401 4125
OSK-W-21-2498 129 -57 999 453007 5435385 412 3400
WST-21-0640A 165 -51 456 453104 5435064 231 3325
WST-21-0651 153 -52 400 452954 5435003 253 3175
WST-21-0653A 155 -65 427 453104 5435065 231 3325
WST-21-0680 161 -47 559 453322 5435235 55 3600
WST-21-0694 162 -61 384 453103 5435065 231 3325
WST-21-0696 137 -49 492 453229 5435127 134 3475
WST-21-0712 156 -3 91 453359 5435194 83 3625
WST-21-0715 158 -9 94 453359 5435194 83 3625
WST-21-0751 133 -56 331 453357 5435273 15 3650
WST-21-0752 148 -53 562 453357 5435273 15 3650
WST-21-0756 131 -43 411 453357 5435273 15 3650
WST-21-0760 145 -37 575 453257 5435209 96 3525
WST-21-0761 149 -34 485 453258 5435209 96 3525
WST-21-0786 150 -40 169 453320 5435235 54 3600
WST-21-0806 112 -33 93 453508 5435327 -7 3800

 

 

Lynx Zone

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

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO DRILLING ADDS MORE HIGH GRADE AT WINDFALL

78.5 g/t Au Over 2.0 Metres in Zone 27

(Toronto, May 18, 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 61 intercepts in 20 drill holes (15 from surface, 5 from underground) and 9 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 located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s drilling results in the Main Zone areas of Windfall, including Underdog, mirror the results reported over the past weeks in Lynx: infill drilling continues to define grade continuity inside our MRE blocks and expansion drilling is adding ounces in the immediate surrounding areas. All infill and expansion drilling at Windfall is in support of our upcoming feasibility study.”

Selected high-grade intercepts include: 78.5 g/t Au over 2.0 metres, 58.3 g/t Au over 2.0 metres and 40.0 g/t Au over 2.0 metres in OSK-W-21-2479, 43.5 g/t Au over 2.7 metres and 38.5 g/t Au over 2.7 metres in OSK-W-21-2442-W1, 18.3 g/t Au over 6.1 metres in OSK-W-21-2496, 40.3 g/t Au over 2.4 metres in OSK-W-21-2455-W1, 44.4 g/t Au over 2.0 metres in OSK-W-21-2463, 42.8 g/t Au over 2.0 metres in WST-21-0643, and 40.2 g/t Au over 2.0 metres in OSK-W-20-2439. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-17-777 839.0 841.0 2.0 3.52   Underdog_4101 Underdog
  849.0 851.0 2.0 5.41   Underdog_4101 Underdog
including 850.6 851.0 0.4 20.0  
  856.9 858.9 2.0 5.63   Underdog_4101 Underdog
including 857.5 857.8 0.3 27.0  
OSK-W-20-913-W2 801.0 803.0 2.0 5.04   Caribou_2220 Caribou
OSK-W-21-1827-W2 504.0 506.0 2.0 15.3   Caribou_2231 Caribou
including 504.9 505.5 0.6 42.7  
  511.3 513.9 2.6 5.11   Caribou_2231 Caribou
including 511.3 512.1 0.8 11.5  
OSK-W-21-2442-W1 447.0 449.0 2.0 5.81   Z27_1203 Zone 27
including 448.3 449.0 0.7 16.3  
  637.3 640.0 2.7 43.5 31.5 Underdog_4101 Underdog
including 637.3 637.6 0.3 74.5  
and 639.6 640.0 0.4 181 100
  960.1 962.8 2.7 38.5 34.7 Underdog_4910 Underdog
including 962.5 962.8 0.3 134 100
OSK-W-21-2455-W1 588.6 590.7 2.1 4.72   Caribou_2232 Caribou
  661.6 663.6 2.0 5.50   Caribou_2208 Caribou
including 663.0 663.6 0.6 17.0  
  666.5 668.8 2.3 4.86   Caribou_2208 Caribou
  770.6 773.0 2.4 40.3 37.6 Caribou Caribou
including 772.1 773.0 0.9 107 100
OSK-W-21-2463 843.0 845.0 2.0 44.4 22.6 Underdog_4111 Underdog
including 843.3 843.7 0.4 209 100
OSK-W-21-2463-W2 840.6 843.0 2.4 3.75   Underdog_4110 Underdog
including 840.6 840.9 0.3 15.9  
  927.0 929.0 2.0 17.3   Underdog_4101 Underdog
including 927.4 928.1 0.7 41.2  
  959.0 961.0 2.0 4.27   Underdog_4100 Underdog
including 960.0 960.5 0.5 14.3  
  972.0 974.0 2.0 4.77   Underdog_4102 Underdog
including 972.0 972.5 0.5 18.1  
  1082.0 1084.0 2.0 5.38   Underdog_4511 Underdog
including 1082.6 1083.0 0.4 26.5  
OSK-W-21-2479 638.0 640.0 2.0 40.0 37.2 Underdog_4100 Underdog
including 639.0 639.7 0.7 108 100
  642.6 649.5 6.9 8.06   Underdog_4100 Underdog
including 645.3 646.1 0.8 22.0  
and 649.0 649.5 0.5 22.8  
OSK-W-21-2486 533.0 535.3 2.3 4.89   Caribou_2232 Caribou
including 534.6 535.3 0.7 10.2  
OSK-W-21-2496 208.0 214.1 6.1 18.3   F51_6008 F-51
including 209.0 210.0 1.0 45.3  
OSK-W-21-2504 163.0 165.4 2.4 5.69   F51_6008 F-51
including 163.5 164.5 1.0 13.3  
OSK-W-21-777-W1 610.7 612.9 2.2 17.1   Caribou_2233 Caribou
OSK-W-21-777-W2 568.0 570.0 2.0 35.2   Caribou_2211 Caribou
  572.0 574.4 2.4 4.90   Caribou_2211 Caribou
  611.0 613.0 2.0 9.76   Caribou_2233 Caribou

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

 

 

 

Expansion Drilling

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2399-W1 451.0 453.6 2.6 4.00   Caribou Caribou
OSK-W-20-2406 404.0 406.0 2.0 4.76   Caribou Caribou
  506.0 508.0 2.0 11.5   Caribou Caribou
including 506.4 507.0 0.6 28.2  
OSK-W-20-2432 405.0 407.0 2.0 3.65   Caribou Caribou
  763.0 767.0 4.0 11.7   Caribou Caribou
including 763.0 764.0 1.0 40.7  
OSK-W-20-2439 35.0 37.0 2.0 40.2   F11 F11
including 35.0 36.0 1.0 77.0  
OSK-W-20-2440 314.0 316.9 2.9 3.67   Caribou Caribou
OSK-W-20-2441 181.5 184.4 2.9 5.07   Caribou Caribou
OSK-W-21-1882-W1 744.0 746.0 2.0 5.16   Underdog Underdog
OSK-W-21-2442-W1 945.0 947.1 2.1 8.49   Underdog Underdog
  948.0 950.0 2.0 3.52   Underdog Underdog
OSK-W-21-2451 436.0 438.0 2.0 4.32   Caribou Caribou
including 436.4 437.0 0.6 14.0  
OSK-W-21-2455 440.0 442.0 2.0 3.66   Caribou Caribou
OSK-W-21-2463 323.0 325.0 2.0 3.55   Caribou Caribou
including 324.0 324.4 0.4 10.2  
  962.0 964.1 2.1 5.85   Underdog Underdog
including 963.1 964.1 1.0 12.2  
  1126.9 1129.0 2.1 7.07   Underdog Underdog
including 1126.9 1127.3 0.4 28.1  
OSK-W-21-2463-W2 940.0 942.0 2.0 4.23   Underdog Underdog
  1051.0 1053.0 2.0 4.17   Underdog Underdog
OSK-W-21-2479 482.0 484.0 2.0 78.5 16.8 Z27 Zone 27
including 482.3 482.6 0.3 511 100
  485.4 489.0 3.6 10.4   Z27 Zone 27
  616.0 618.3 2.3 11.3   Underdog Underdog
including 617.0 617.3 0.3 84.3  
  625.1 627.1 2.0 27.8   Underdog Underdog
including 626.3 627.1 0.8 69.0  
  630.0 632.0 2.0 4.97   Underdog Underdog
including 630.6 631.0 0.4 22.6  
  899.9 901.9 2.0 58.3 37.3 Underdog Underdog
including 900.2 900.9 0.7 160 100
  913.7 916.8 3.1 25.0 17.7 Underdog Underdog
including 916.5 916.8 0.3 176 100
OSK-W-21-2483 282.2 284.5 2.3 7.55   Caribou Caribou
OSK-W-21-2490 436.9 439.0 2.1 5.06   Caribou Caribou
including 437.9 438.2 0.3 35.0  
  560.1 562.1 2.0 4.32   Caribou Caribou
including 561.3 561.6 0.3 10.7  
WST-21-0597 17.7 19.9 2.2 6.48   Bobcat Bobcat
WST-21-0642 150.0 152.0 2.0 4.13   Bobcat Bobcat
including 150.6 151.0 0.4 16.8  
WST-21-0643 163.0 165.0 2.0 42.8   Bobcat Bobcat
including 163.0 164.0 1.0 85.4  
WST-21-0644 86.4 89.6 3.2 6.69   Bobcat Bobcat
including 86.4 87.2 0.8 17.2  
WST-21-0651 88.0 90.2 2.2 3.83   Bobcat Bobcat
including 88.3 89.0 0.7 8.60  

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-17-777 330 -59 1221 452678 5434500 403 2675
OSK-W-20-2399-W1 333 -54 876 452875 5434553 398 2875
OSK-W-20-2406 333 -56 693 452633 5434281 400 2525
OSK-W-20-2432 333 -57 864 452809 5434415 404 2750
OSK-W-20-2439 147 -50 360 452515 5436029 406 3275
OSK-W-20-2440 330 -52 807 452738 5434475 401 2725
OSK-W-20-2441 338 -59 405 452715 5434606 397 2775
OSK-W-20-913-W2 334 -52 913 452878 5434419 401 2825
OSK-W-21-1827-W2 331 -58 690 452506 5434390 403 2475
OSK-W-21-1882-W1 328 -57 1197 452469 5434405 400 2450
OSK-W-21-2442-W1 347 -53 1011 452315 5434419 399 2325
OSK-W-21-2451 330 -58 803 452809 5434415 404 2750
OSK-W-21-2455 328 -53 780 452738 5434476 401 2725
OSK-W-21-2455-W1 328 -53 798 452738 5434476 401 2725
OSK-W-21-2463 339 -65 1335 452616 5434449 403 2600
OSK-W-21-2463-W2 339 -65 1325 452616 5434449 403 2600
OSK-W-21-2479 344 -55 993 452315 5434419 399 2325
OSK-W-21-2486 334 -57 1167 452596 5434392 401 2550
OSK-W-21-2483 328 -58 756 452731 5434634 397 2800
OSK-W-21-2490 338 -61 786 452756 5434466 400 2725
OSK-W-21-2496 158 -50 279 453484 5435967 403 4100
OSK-W-21-2504 161 -47 186 453533 5435947 403 4125
OSK-W-21-777-W1 330 -59 969 452678 5434500 403 2675
OSK-W-21-777-W2 330 -59 1170 452678 5434500 403 2675
WST-21-0597 151 -2 132 452817 5434943 275 3025
WST-21-0642 149 -38 172 452955 5435003 253 3175
WST-21-0643 129 -41 220 452955 5435003 253 3175
WST-21-0644 130 -4 120 452955 5435003 254 3175
WST-21-0651 153 -52 400 452954 5435003 253 3175

 

Caribou Zone

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

 

Zone 27

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

F-Zones

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

 

Bobcat

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

Underdog

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

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO DRILLING RETURNS HIGH GRADE AT LYNX

180 g/t Au Over 2.2 Metres

46.8 g/t Au Over 3.3 Metres

(Toronto, May 11, 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 28 intercepts in 18 drill holes (5 from surface, 13 from underground) and 3 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 located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s infill results continue to demonstrate the strong continuity inside defined MRE blocks as well as our ability to add resources in the immediate surrounding areas.”

Selected high-grade intercepts include: 180 g/t Au over 2.2 metres in OSK-W-21-2495; 46.8 g/t Au over 3.3 metres in OSK-W-21-2470, 32.2 g/t Au over 2.4 metres in OSK-W-21-2480, 27.2 g/t Au over 2.0 metres in WST-20-0585 and 21.9 g/t Au over 2.3 metres in WST-20-0639B. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Infill Drilling

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2313-W9 826.3 829.0 2.7 6.53   TLX_3184 Triple Lynx
including 827.2 827.9 0.7 24.0
  832.7 835.0 2.3 7.10   TLX_3184 Triple Lynx
including 833.5 834.4 0.9 17.4
OSK-W-20-2394-W3 659.0 663.0 4.0 4.16   TLX_3171 Triple Lynx
OSK-W-21-2470 993.0 996.3 3.3 46.8 34.3 TLX_3164 Triple Lynx
including 993.4 993.8 0.4 203 100
OSK-W-21-2482 625.3 627.6 2.3 10.4   TLX_3171 Triple Lynx
including 626.4 627.0 0.6 23.2
OSK-W-21-2495 1023.0 1025.0 2.0 4.80   LX4_3430 Lynx
including 1023.0 1023.3 0.3 18.0
  1027.0 1029.2 2.2 180 30.7 LX4_3430 Lynx
including 1027.5 1028.1 0.6 646 100
WST-20-0585 157.7 159.7 2.0 27.2   LXM_3359 Lynx
including 158.2 159.0 0.8 63.4
WST-20-0639B 269.0 271.3 2.3 21.9   LSX_3510 Lynx SW
including 269.5 270.4 0.9 41.7
  298.0 300.0 2.0 3.62   LSX_3556 Lynx
including 298.4 298.8 0.4 11.1
WST-21-0665 328.4 331.0 2.6 4.59   TLX_3166 Triple Lynx
including 330.4 331.0 0.6 11.4
WST-21-0677 490.4 492.4 2.0 11.8   LX4_3450 Lynx
including 491.8 492.4 0.6 39.1
WST-21-0696 276.6 279.2 2.6 3.66   TLX_3166 Triple Lynx
including 277.4 278.2 0.8 10.8
WST-21-0709 27.0 29.3 2.3 6.72   LXM_3303 Lynx
including 27.6 28.7 1.1 13.8
WST-21-0710 28.0 30.0 2.0 5.14   LXM_3303 Lynx
  79.0 81.0 2.0 18.5   LXM_3304 Lynx
including 79.6 80.3 0.7 52.5
WST-21-0729 398.0 403.0 5.0 3.69   TLX_3165 Triple Lynx
including 402.6 403.0 0.4 14.7
WST-21-0735 338.0 340.1 2.1 5.06   LSX_3501 Lynx SW
including 338.8 339.1 0.3 34.5

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

 

Expansion Drilling

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-21-2480 997.8 1000.2 2.4 32.2 25.1 Lynx 4 Lynx
including 998.9 999.5 0.6 129 100
OSK-W-21-2487 691.2 693.3 2.1 5.28   Lynx 4 Lynx
including 691.7 692.5 0.8 12.2
OSK-W-21-2487-W2 655.0 657.0 2.0 5.14   Lynx 4 Lynx
OSK-W-21-2495 986.0 988.0 2.0 4.46   Lynx 4 Lynx
WST-21-0640A 308.7 311.0 2.3 4.90   Lynx SW Lynx SW
342.0 344.0 2.0 4.85   Lynx SW Lynx SW
including 342.5 343.1 0.6 16.0
WST-21-0680 51.5 54.0 2.5 4.11   Lynx Lynx
WST-21-0692 532.3 534.9 2.6 12.7   Triple Lynx Triple Lynx
including 532.3 532.6 0.3 71.8
WST-21-0729 421.3 425.3 4.0 5.72   Lynx 4 Lynx
including 421.3 421.8 0.5 26.9
WST-21-0757 630.9 633.0 2.1 6.99   Lynx 4 Lynx
including 630.9 631.7 0.8 18.3

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2313-W9 134 -52 1218 452965 5435583 420 3450
OSK-W-20-2394-W3 138 -52 1020 452923 5435467 414 3375
OSK-W-21-2470 132 -59 1230 453304 5435639 415 3775
OSK-W-21-2480 121 -55 1230 453412 5435633 412 3875
OSK-W-21-2482 131 -57 939 453009 5435387 413 3400
OSK-W-21-2487 359 -73 897 454135 5435058 397 4225
OSK-W-21-2487-W2 359 -73 777 454135 5435058 397 4225
OSK-W-21-2495 123 -54 1257 453426 5435565 410 3850
WST-20-0585 161 -25 189 453418 5435305 69 3725
WST-20-0639B 147 -54 351 453105 5435065 231 3325
WST-21-0640A 165 -51 456 453104 5435064 231 3325
WST-21-0665 141 -52 552 453229 5435127 134 3475
WST-21-0677 144 -42 652 453257 5435209 96 3525
WST-21-0680 161 -47 559 453322 5435235 55 3600
WST-21-0692 157 -54 541 453356 5435272 16 3650
WST-21-0696 137 -49 492 453229 5435127 134 3475
WST-21-0709 155 -7 94 453360 5435194 83 3625
WST-21-0710 154 -9 94 453360 5435195 83 3625
WST-21-0729 132 -49 510 453229 5435127 135 3475
WST-21-0735 132 -58 475 452956 5435003 253 3175
WST-21-0757 145 -50 706 453228 5435126 135 3475

 

Lynx Zone

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

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO INFILL AND EXPANSION DRILLING HITS MORE HIGH-GRADE

124 g/t Au Over 2.7 Metres in Triple Lynx

78.7 g/t Au over 2.0 metres in Lynx SW

(Toronto, May 04, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Significant new analytical results presented below include 52 intercepts in 35 drill holes (9 from surface, 15 from underground) and 11 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 located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s highlighted intercepts in the Lynx and Triple Lynx zones, as seen on the accompanying long sections available on our website, demonstrate the continued distribution of high-grade intersected throughout these areas in both infill and expansion drilling.”

Selected high-grade intercepts include: 124 g/t Au over 2.7 metres in WST-21-0729; 78.7 g/t Au over 2.0 metres and 39.3 g/t Au over 2.2 metres in WST-21-0703, 34.6 g/t Au over 3.6 metres in OSK-W-21-2465, 41.6 g/t Au over 2.9 metres in WST-21-0696, 41.9 g/t Au over 2.1 metres in WST-21-0652, 31.5 g/t Au over 2.4 metres in OSK-W-21-2472 and 37.1 g/t Au over 2.0 metres in WST-21-0749. 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-20-2252-W11 851.0 853.0 2.0 3.99 TLX_3189 Triple Lynx
OSK-W-20-2283-W2 789.6 791.8 2.2 4.14 TLX_3171 Triple Lynx
including 790.9 791.2 0.3 18.5
OSK-W-21-2394-W4 643.2 646.2 3.0 9.31 TLX_3171 Triple Lynx
including 643.2 643.6 0.4 18.8
OSK-W-21-2394-W6 674.6 676.7 2.1 10.7 TLX_3171 Triple Lynx
including 675.1 676.0 0.9 21.7
  694.0 696.0 2.0 4.57 TLX_3184 Triple Lynx
OSK-W-21-2436-W3 805.0 807.0 2.0 21.4 20.4 LX4_3437 Lynx 4
including 806.6 807.0 0.4 105 100
OSK-W-21-2445-W3 601.6 605.1 3.5 3.68 TLX_3171 Triple Lynx
OSK-W-21-2470 976.0 978.0 2.0 4.62 TLX_3163 Triple Lynx
OSK-W-21-2478 887.0 889.2 2.2 8.94 TLX_3184 Triple Lynx
including 887.8 888.2 0.4 44.7
OSK-W-21-2492 775.0 777.5 2.5 17.2 LX4_3414 Lynx 4
including 776.9 777.5 0.6 42.9
  783.9 786.2 2.3 22.4 20.9 LX4_3414 Lynx 4
including 784.8 785.2 0.4 109 100
OSK-W-21-2495 659.0 661.0 2.0 3.65 LXM_3304 Lynx
including 659.4 659.7 0.3 20.9
WST-21-0652 336.0 338.1 2.1 41.9 22.1 LXSW_3556 Lynx
including 337.7 338.1 0.4 204 100
WST-21-0658 185.0 187.1 2.1 15.7 TLX_3161 Triple Lynx
including 185.0 185.6 0.6 51.3
WST-21-0671A 171.0 173.0 2.0 25.0 LXM_3304 Lynx
including 171.0 172.0 1.0 43.6
WST-21-0675 159.2 161.4 2.2 14.2 LXM_3304 Lynx
including 159.2 159.9 0.7 39.4
WST-21-0676 152.7 155.1 2.4 3.93 LXM_3304 Lynx
including 152.7 153.3 0.6 10.4
WST-21-0677 399.0 401.0 2.0 8.52 TLX_3165 Triple Lynx
  409.5 411.5 2.0 11.4 TLX_3165 Triple Lynx
including 410.5 411.0 0.5 28.8
WST-21-0692 334.2 336.4 2.2 5.34 TLX_3131 Triple Lynx
WST-21-0698 138.3 140.3 2.0 10.3 LXM_3334 Lynx
WST-21-0703 252.0 256.2 4.2 11.6 LXSW_3506 Lynx
including 255.1 255.5 0.4 66.5
  463.7 465.9 2.2 39.3 28.1 LXSW_3502 Lynx
including 464.7 465.3 0.6 141 100
WST-21-0729 304.9 307.6 2.7 124 23.5 TLX_3166 Triple Lynx
including 305.9 306.3 0.4 780 100
WST-21-0739 128.2 130.2 2.0 23.5 LXM_3304 Lynx
including 129.0 129.7 0.7 63.8
WST-21-0749 144.9 146.9 2.0 37.1 LXM_3304 Lynx

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

 

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-21-2394-W6 914.0 916.0 2.0 5.70 TLX_3195 Triple Lynx
including 914.8 915.2 0.4 27.2
OSK-W-21-2436-W2 614.2 617.0 2.8 7.16 Lynx 4 Lynx
OSK-W-21-2445-W1 878.0 880.0 2.0 4.68 Triple Lynx Triple Lynx
OSK-W-21-2445-W2 618.2 620.6 2.4 4.22 Triple Lynx Triple Lynx
OSK-W-21-2445-W4 918.5 920.5 2.0 16.9 Triple Lynx Triple Lynx
including 918.5 919.5 1.0 32.0
OSK-W-21-2465 919.0 921.0 2.0 8.88 Lynx 4 Lynx
  951.4 955.0 3.6 34.6 Lynx 4 Lynx
including 952.0 954.0 2.0 54.3
OSK-W-21-2465 962.5 964.6 2.1 12.4 Lynx 4 Lynx
OSK-W-21-2470 1020.9 1023.0 2.1 6.37 Triple Lynx Triple Lynx
including 1021.8 1022.1 0.3 39.1
  1178.0 1180.1 2.1 5.63 Triple Lynx Triple Lynx
including 1179.2 1180.1 0.9 12.9
OSK-W-21-2470-W1 963.0 968.0 5.0 10.8 Triple Lynx Triple Lynx
including 963.0 964.0 1.0 41.4
  987.0 989.0 2.0 27.7 27.6 Triple Lynx Triple Lynx
including 987.3 987.7 0.4 101 100
OSK-W-21-2472 731.8 734.2 2.4 31.5 LX4_3437 Lynx 4
including 733.4 734.2 0.8 78.3
  781.1 783.9 2.8 11.2 Lynx 4 Lynx
including 783.1 783.9 0.8 31.8
OSK-W-21-2473 625.6 630.0 4.4 10.0 Lynx Lynx
including 625.6 626.2 0.6 49.1
OSK-W-21-2478 1117.0 1119.0 2.0 7.22 Triple Lynx Triple Lynx
OSK-W-21-2482 782.0 784.0 2.0 11.7 Triple Lynx Triple Lynx
including 782.0 782.9 0.9 26.0
OSK-W-21-2489 1005.0 1007.0 2.0 8.26 Triple Lynx Triple Lynx
WST-21-0652 216.0 218.0 2.0 4.15 Lynx SW Lynx SW
  448.0 450.0 2.0 4.35 Lynx SW Lynx SW
including 448.7 449.2 0.5 15.6
WST-21-0657 442.3 444.3 2.0 4.26 Triple Lynx Triple Lynx
WST-21-0696 370.7 373.6 2.9 41.6 36.7 Triple Lynx Triple Lynx
including 371.8 372.7 0.9 116 100
  464.0 466.0 2.0 5.62 Lynx 4 Lynx
WST-21-0703 43.2 45.2 2.0 78.7 37.1 Lynx SW Lynx SW
including 43.5 44.2 0.7 219 100
WST-21-0706 314.5 316.9 2.4 14.1 Lynx SW Lynx SW
including 315.3 315.9 0.6 54.1
WST-21-0729 174.3 177.6 3.3 8.95 Lynx Lynx

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

 

 

 

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2252-W11 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-21-2394-W4 138 -52 920 452923 5435467 414 3375
OSK-W-21-2394-W6 138 -52 978 452923 5435467 414 3375
OSK-W-21-2436-W2 130 -57 789 453709 5435618 400 4125
OSK-W-21-2436-W3 130 -57 879 453709 5435618 400 4125
OSK-W-21-2445-W1 141 -50 909 452906 5435433 415 3325
OSK-W-21-2445-W2 141 -50 822 452906 5435433 415 3325
OSK-W-21-2445-W3 141 -50 753 452906 5435433 415 3325
OSK-W-21-2445-W4 141 -50 944 452906 5435433 415 3325
OSK-W-21-2465 123 -61 1253 453397 5435557 413 3825
OSK-W-21-2470 132 -59 1230 453304 5435639 415 3775
OSK-W-21-2470-W1 132 -59 1227 453304 5435639 415 3775
OSK-W-21-2472 12 -72 900 454135 5435058 397 4225
OSK-W-21-2473 123 -56 1272 453420 5435610 413 3875
OSK-W-21-2478 128 -54 1257 452997 5435607 425 3500
OSK-W-21-2482 131 -57 939 453009 5435387 413 3400
OSK-W-21-2489 133 -54 1140 453121 5435509 419 3550
OSK-W-21-2492 122 -53 870 453687 5435676 401 4125
OSK-W-21-2495 123 -54 1257 453426 5435565 410 3850
WST-21-0652 128 -60 481 452955 5435003 253 3175
WST-21-0657 141 -56 448 453357 5435272 16 3650
WST-21-0658 137 -49 255 453357 5435272 16 3650
WST-21-0671A 142 -51 372 453507 5435327 -7 3800
WST-21-0675 133 -40 336 453508 5435327 -7 3800
WST-21-0676 129 -32 318 453508 5435327 -7 3800
WST-21-0677 144 -42 652 453257 5435209 96 3525
WST-21-0692 157 -54 541 453356 5435272 16 3650
WST-21-0696 137 -49 492 453229 5435127 134 3475
WST-21-0698 167 -40 160 453356 5435272 16 3650
WST-21-0703 146 -60 489 453104 5435065 231 3325
WST-21-0706 165 -54 417 453104 5435065 231 3325
WST-21-0729 132 -49 510 453229 5435127 135 3475
WST-21-0739 164 -37 195 453507 5435326 -7 3800
WST-21-0749 136 -30 196 453357 5435272 16 3650

 

Lynx Zone

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

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO DRILLING AT WINDFALL RETURNS HIGH GRADE AT LYNX

296 g/t Au Over 2.0 Metres in Lynx

(Toronto, April 27, 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 56 intercepts in 23 drill holes (7 from surface, 16 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 located in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “We are encouraged by the expansion drilling in the Lynx and Triple Lynx areas. Today’s 37 expansion intercepts in these corridors are a good indication of the continuing potential in these zones.”

Selected high-grade intercepts include: 296 g/t Au over 2.0 metres in OSK-W-21-2436-W3; 177 g/t Au over 2.1 metres in OSK-W-21-2436-W2, 54.2 g/t Au over 4.5 metres in WST-21-0675, 63.7 g/t Au over 2.0 metres in WST-21-0744, and 48.2 g/t Au over 2.0 metres in OSK-W-20-2426. 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-21-2436-W2 714.4 716.5 2.1 177 35.1 LX4_3414 Lynx 4
including 715.0 715.6 0.6 595 100
OSK-W-21-2436-W3 760.0 762.0 2.0 296 55.6 LX4_3414 Lynx 4
including 760.4 761.1 0.7 757 100
  867.0 869.0 2.0 14.6   LX4_3430 Lynx 4
including 868.0 869.0 1.0 29.1  
OSK-W-21-2445-W3 601.6 605.1 3.5 3.68   TLX_3171 Triple Lynx
OSK-W-21-2480-W1 748.0 750.2 2.2 24.4   LXM_3304 Lynx
including 748.5 749.2 0.7 76.4  
OSK-W-21-2482 636.0 638.6 2.6 3.98   TLX_3171 Triple Lynx
  664.9 667.0 2.1 4.11   TLX_3184 Triple Lynx
including 665.7 666.0 0.3 26.7  
WST-20-0617 351.7 358.0 6.3 7.44   TLX_3167 Triple Lynx
including 352.1 352.4 0.3 83.1  
WST-21-0683 342.8 344.8 2.0 3.83   TLX_3166 Triple Lynx
  371.0 374.8 3.8 8.72   TLX_3165 Triple Lynx
including 373.9 374.8 0.9 27.1  
WST-21-0691 250.0 254.0 4.0 6.29   TLX_3164 Triple Lynx
  257.2 259.6 2.4 13.8   TLX_3164 Triple Lynx
WST-21-0697 379.4 381.7 2.3 4.55   TLX_3166 Triple Lynx
  426.0 428.0 2.0 11.4   TLX_3165 Triple Lynx
including 426.5 427.4 0.9 23.5  
WST-21-0706 269.5 273.3 3.8 7.68   LXSW_3556 Lynx
including 269.8 270.3 0.5 23.7  
WST-21-0748 200.0 202.4 2.4 37.4   LXM_3304 Lynx
including 201.6 202.4 0.8 93.5  
WST-21-0786 124.3 127.2 2.9 7.21   LXM_3334 Lynx

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

 

Expansion Drilling

Hole No. From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t)         cut to 100 g/t Zone Corridor
OSK-W-20-2397-W1 818.9 821.0 2.1 4.32   Lynx Lynx
OSK-W-20-2426 912.0 914.0 2.0 48.2 25.2 Triple Lynx Triple Lynx
including 912.7 913.2 0.5 192 100
OSK-W-21-2369-W3 1215.9 1218.0 2.1 5.17   Lynx 4 Lynx
  1223.7 1226.1 2.4 15.5   Lynx 4 Lynx
OSK-W-21-2394-W4 908.0 910.0 2.0 3.85   Triple Lynx Triple Lynx
OSK-W-21-2394-W6 580.0 582.0 2.0 3.58   Triple Lynx Triple Lynx
including 580.0 580.9 0.9 7.90  
OSK-W-21-2416-W1 841.3 844.0 2.7 4.69   Triple Lynx Triple Lynx
including 841.3 841.9 0.6 10.8  
OSK-W-21-2416-W2 1125.0 1127.0 2.0 9.52   Triple Lynx Triple Lynx
including 1125.8 1126.6 0.8 21.0  
OSK-W-21-2445 932.0 934.0 2.0 14.9   Triple Lynx Triple Lynx
including 932.0 933.0 1.0 26.2  
OSK-W-21-2445-W3 612.2 614.2 2.0 9.96   Triple Lynx Triple Lynx
including 612.6 613.1 0.5 31.0  
  694.8 697.0 2.2 5.72   Triple Lynx Triple Lynx
OSK-W-21-2445-W4 602.0 604.0 2.0 5.09   Triple Lynx Triple Lynx
including 602.5 602.9 0.4 23.8  
OSK-W-21-2459 1088.3 1090.4 2.1 5.25   Triple Lynx Triple Lynx
including 1088.3 1088.6 0.3 36.4  
OSK-W-21-2465 903.0 905.0 2.0 19.9   Lynx 4 Lynx
including 903.9 904.7 0.8 49.0  
OSK-W-21-2470-W1 1115.0 1117.0 2.0 5.67   Triple Lynx Triple Lynx
  1160.0 1162.0 2.0 17.2 16.5 Triple Lynx Triple Lynx
including 1160.8 1161.1 0.3 105 100
OSK-W-21-2473 992.4 994.4 2.0 6.94   Triple Lynx Triple Lynx
including 993.7 994.4 0.7 19.5  
  997.0 999.0 2.0 5.30   Triple Lynx Triple Lynx
including 998.4 999.0 0.6 17.2  
OSK-W-21-2480-W1 697.3 699.6 2.3 6.24   Lynx Lynx
including 699.2 699.6 0.4 16.2  
OSK-W-21-2482 642.5 644.6 2.1 3.64   Triple Lynx Triple Lynx
  825.7 827.7 2.0 25.8   Triple Lynx Triple Lynx
OSK-W-21-2493 1064.0 1066.1 2.1 17.3   Lynx 4 Lynx
including 1064.8 1065.4 0.6 49.5  
WST-21-0657 402.0 404.2 2.2 24.6   Triple Lynx Triple Lynx
including 402.0 402.5 0.5 94.0  
WST-21-0665 394.0 397.0 3.0 10.5   TLX_3165 Triple Lynx
including 396.4 397.0 0.6 39.7  
WST-21-0675 271.5 276.0 4.5 54.2 25.8 Lynx HW Lynx
including 274.0 275.0 1.0 228 100
WST-21-0676 123.0 125.3 2.3 4.73   Lynx Lynx
including 124.5 125.3 0.8 10.2  
  217.0 219.0 2.0 5.72   Lynx Lynx
WST-21-0678 495.8 497.9 2.1 11.8   Triple Lynx Triple Lynx
including 496.6 497.6 1.0 24.2  
WST-21-0683 355.0 358.0 3.0 7.62   Triple Lynx Triple Lynx
including 355.0 356.0 1.0 17.2  
  544.0 546.0 2.0 5.55   Lynx 4 Lynx
WST-21-0690 242.5 244.6 2.1 13.0   Triple Lynx Triple Lynx
including 243.3 243.6 0.3 49.2  
  249.6 251.6 2.0 5.13   Triple Lynx Triple Lynx
  252.6 254.7 2.1 4.67   Triple Lynx Triple Lynx
including 254.3 254.7 0.4 10.2  
WST-21-0703 309.5 311.7 2.2 5.38   Lynx SW Lynx SW
WST-21-0706 250.7 253.0 2.3 5.17   Lynx SW Lynx SW
WST-21-0744 115.2 117.2 2.0 63.7 20.1 Lynx Lynx
including 115.8 116.2 0.4 318 100
  119.1 121.4 2.3 11.2   Lynx Lynx
WST-21-0749 128.3 130.4 2.1 9.29   LXM_3338 Lynx
including 129.0 129.7 0.7 22.2  
  144.9 146.9 2.0 37.1   Lynx Lynx

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

 

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-2397-W1 131 -58 1200 453451 5435594 412 3900
OSK-W-20-2426 134 -56 1035 453008 5435388 413 3400
OSK-W-21-2369-W3 130 -56 1415 453424 5435566 410 3850
OSK-W-21-2394-W4 138 -52 920 452923 5435467 414 3375
OSK-W-21-2394-W6 138 -52 978 452923 5435467 414 3375
OSK-W-21-2416-W1 123 -54 1083 453169 5435624 412 3650
OSK-W-21-2416-W2 123 -54 1266 453169 5435624 412 3650
OSK-W-21-2436-W2 130 -57 789 453709 5435618 400 4125
OSK-W-21-2436-W3 130 -57 879 453709 5435618 400 4125
OSK-W-21-2445 141 -50 945 452906 5435434 415 3325
OSK-W-21-2445-W3 141 -50 753 452906 5435434 415 3325
OSK-W-21-2445-W4 141 -50 944 452906 5435434 415 3325
OSK-W-21-2459 132 -52 1227 452997 5435607 425 3500
OSK-W-21-2465 123 -61 1253 453397 5435557 413 3825
OSK-W-21-2470-W1 132 -59 1227 453304 5435639 415 3775
OSK-W-21-2473 123 -56 1272 453420 5435610 413 3875
OSK-W-21-2480-W1 121 -55 888 453412 5435633 412 3875
OSK-W-21-2482 131 -57 939 453008 5435388 413 3400
OSK-W-21-2493 134 -54 1080 453008 5435388 412 3400
WST-20-0617 134 -41 366 453257 5435210 95 3525
WST-21-0657 141 -56 448 453357 5435272 16 3650
WST-21-0665 141 -52 552 453229 5435127 134 3475
WST-21-0675 133 -40 336 453508 5435327 -7 3800
WST-21-0676 129 -32 318 453508 5435327 -7 3800
WST-21-0678 153 -50 574 453321 5435235 55 3600
WST-21-0683 146 -40 636 453257 5435210 95 3525
WST-21-0690 150 -63 307 453356 5435272 16 3650
WST-21-0691 152 -58 385 453356 5435272 16 3650
WST-21-0697 136 -45 542 453257 5435209 96 3525
WST-21-0703 146 -60 489 453104 5435065 231 3325
WST-21-0706 165 -54 417 453104 5435065 231 3325
WST-21-0744 136 -27 186 453508 5435327 -6 3800
WST-21-0748 125 -54 267 453508 5435327 -7 3800
WST-21-0749 136 -30 196 453357 5435272 16 3650
WST-21-0786 150 -39 140 453322 5435235 55 3600

 

Lynx Zone

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

 

Qualified Person

The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

 

Quality Control and Reporting Protocols

True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.

 

About the Windfall Gold Deposit

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

 

About Osisko Mining Inc.

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

 

Cautionary Note Regarding Forward-Looking Information

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

 

CONTACT INFORMATION:

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

OSISKO FILES PEA UPDATE TECHNICAL REPORT FOR WINDFALL PROJECT

 

(Toronto, April 26, 2021)  Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to announce the filing of an independent Preliminary Economic Assessment  technical report which has been prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects, on its 100% owned Windfall gold project, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

 

The technical report, entitled “Preliminary Economic Assessment Update for the Windfall Project” (the “Windfall PEA”) and dated April 23, 2021 (effective date of April 6, 2021), has been prepared for Osisko by BBA Inc. with the assistance of a number of specialized consultants, including Andrieux & Associates Geomechanics Consulting LP, Entech Mining Ltd., GCM Consultants, Golder Associates Ltd., and WSP Canada Inc. The Windfall PEA is available on SEDAR (www.sedar.com) under Osisko’s issuer profile.

 

Osisko’s news release dated April 7, 2021 (entitled “Osisko Mining Delivers Positive PEA Update for Windfall”) summarized certain key results, assumptions and estimates contained in the Windfall PEA. The Corporation is pleased to report that there are no material differences between the key results, assumptions and estimates contained in the Windfall PEA and Osisko’s news release dated April 7, 2021.

 

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 Technical Information

Readers are cautioned that the Windfall PEA is preliminary in nature and includes inferred mineral resources that are too speculative geologically to have economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the results, assumptions or estimates in the Windfall PEA will be realized. Mineral resources are not mineral reserves and do not have demonstrated economic viability.

 

For additional information:

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