Author: Yannick Fradette
OSISKO INFILL CONTINUES TO DELIVER WITH 342 g/t Au OVER 2.5 METRES
(Toronto, March 1st, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Infill drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to deliver with high-grade and width as we infill the mineral resource estimate (“MRE”) areas published earlier this month.”
The table below contains resource definition infill intercepts located inside defined February 2021 MRE blocks (see Osisko news release dated February 17, 2021). Significant new analytical results are presented below, including 80 intercepts in 21 drill holes (7 from surface, 14 from underground) and 26 wedges.
Select intercepts include: 342 g/t Au over 2.5 metres in OSK-W-20-1432-W2; 37.7 g/t Au over 7.2 metres in OSK-W-20-2283-W5; 56.4 g/t Au over 4.0 metres, 18.3 g/t Au over 5.5 metres and 45.3 g/t Au over 2.1 metres in OSK-W-20-2256-W8; 79.8 g/t Au over 2.4 metres in OSK-W-20-2397; 63.8 g/t Au over 2.4 metres in OSK-W-20-2271-W6; 36.0 g/t Au over 2.7 metres in WST-20-0548A; 42.2 g/t Au over 2.0 metres in OSK-W-20-2280-W6; and 21.1 g/t Au over 4.0 metres in OSK-W-20-2283-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com
Infill Drilling
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-20-1432-W2 | 959.5 | 962.0 | 2.5 | 342 | 72.1 | LX4_3437 | Lynx |
including | 960.2 | 961.0 | 0.8 | 596 | 100 | ||
OSK-W-20-2133-W4 | 966.4 | 969.0 | 2.6 | 3.85 | TLX_3188 | Triple Lynx | |
OSK-W-20-2170-W7 | 971.0 | 973.0 | 2.0 | 25.5 | TLX_3163 | Triple Lynx | |
including | 971.0 | 972.0 | 1.0 | 41.1 | |||
995.0 | 997.5 | 2.5 | 4.18 | TLX_3163 | Triple Lynx | ||
1051.0 | 1053.0 | 2.0 | 4.07 | TLX_3162 | Triple Lynx | ||
OSK-W-20-2252-W5 | 901.0 | 903.0 | 2.0 | 3.30 | TLX_3185 | Triple Lynx | |
OSK-W-20-2252-W10 | 939.9 | 942.0 | 2.1 | 3.31 | TLX_3163 | Triple Lynx | |
OSK-W-20-2256-W8 | 872.5 | 877.0 | 4.5 | 4.39 | TLX_3189 | Triple Lynx | |
883.2 | 887.0 | 3.8 | 4.17 | TLX_3161 | Triple Lynx | ||
including | 886.0 | 886.5 | 0.5 | 8.68 | |||
888.5 | 890.5 | 2.0 | 7.73 | TLX_3161 | Triple Lynx | ||
including | 889.4 | 889.9 | 0.5 | 30.2 | |||
901.7 | 905.7 | 4.0 | 56.4 | 48.5 | TLX_3161 | Triple Lynx | |
including | 901.7 | 902.2 | 0.5 | 139 | 100 | ||
and | 903.0 | 903.5 | 0.5 | 125 | 100 | ||
907.7 | 913.2 | 5.5 | 18.3 | TLX_3161 | Triple Lynx | ||
including | 911.7 | 912.5 | 0.8 | 44.5 | |||
921.0 | 923.1 | 2.1 | 45.3 | TLX_3161 | Triple Lynx | ||
including | 922.1 | 923.1 | 1.0 | 92.7 | |||
961.0 | 966.3 | 5.3 | 13.4 | TLX_3163 | Triple Lynx | ||
including | 965.7 | 966.3 | 0.6 | 87.2 | |||
972.0 | 974.0 | 2.0 | 3.59 | TLX_3163 | Triple Lynx | ||
1001.2 | 1003.6 | 2.4 | 13.8 | TLX_3164 | Triple Lynx | ||
including | 1002.2 | 1002.6 | 0.4 | 40.5 | |||
OSK-W-20-2271-W3 | 1093.0 | 1095.0 | 2.0 | 4.59 | LX4_3440 | Lynx | |
OSK-W-20-2271-W4 | 1085.0 | 1087.0 | 2.0 | 9.68 | LX4_3418 | Lynx | |
including | 1085.0 | 1085.5 | 0.5 | 21.0 | |||
OSK-W-20-2271-W5 | 825.5 | 828.0 | 2.5 | 29.5 | 12.4 | LXM_3317 | Lynx |
including | 826.2 | 826.5 | 0.3 | 242 | 100 | ||
1177.2 | 1179.8 | 2.6 | 6.19 | LX4_3430 | Lynx | ||
OSK-W-20-2271-W6 | 849.0 | 851.0 | 2.0 | 5.07 | LXM_3345 | Lynx | |
1131.6 | 1133.7 | 2.1 | 10.5 | LX4_3434 | Lynx | ||
including | 1132.7 | 1133.0 | 0.3 | 46.1 | |||
1135.6 | 1138.0 | 2.4 | 63.8 | 26.7 | LX4_3434 | Lynx | |
including | 1137.3 | 1137.7 | 0.4 | 323 | 100 | ||
OSK-W-20-2280-W2 | 1096.4 | 1098.8 | 2.4 | 6.46 | TLX_3170 | Triple Lynx | |
OSK-W-20-2280-W6 | 916.0 | 918.1 | 2.1 | 3.88 | TLX_3161 | Triple Lynx | |
including | 916.7 | 917.1 | 0.4 | 16.3 | |||
951.0 | 953.7 | 2.7 | 3.43 | TLX_3180 | Triple Lynx | ||
956.0 | 958.0 | 2.0 | 3.64 | TLX_3180 | Triple Lynx | ||
965.0 | 967.0 | 2.0 | 42.2 | TLX_3180 | Triple Lynx | ||
including | 966.0 | 967.0 | 1.0 | 82.8 | |||
1033.1 | 1036.0 | 2.9 | 4.53 | TLX_3164 | Triple Lynx | ||
including | 1033.4 | 1033.8 | 0.4 | 25.0 | |||
1062.6 | 1064.9 | 2.3 | 7.50 | TLX_3162 | Triple Lynx | ||
including | 1063.5 | 1064.3 | 0.8 | 20.5 | |||
OSK-W-20-2280-W7 | 1017.2 | 1019.6 | 2.4 | 4.06 | TLX_3164 | Triple Lynx | |
OSK-W-20-2280-W9 | 979.0 | 981.0 | 2.0 | 3.17 | TLX_3180 | Triple Lynx | |
985.0 | 987.0 | 2.0 | 4.84 | TLX_3180 | Triple Lynx | ||
including | 986.7 | 987.0 | 0.3 | 21.0 | |||
1020.0 | 1022.5 | 2.5 | 5.00 | TLX_3183 | Triple Lynx | ||
1066.1 | 1069.0 | 2.9 | 5.01 | TLX_3164 | Triple Lynx | ||
including | 1066.1 | 1066.4 | 0.3 | 26.0 | |||
1082.0 | 1089.0 | 7.0 | 4.51 | TLX_3162 | Triple Lynx | ||
including | 1087.7 | 1088.1 | 0.4 | 22.2 | |||
OSK-W-20-2283-W3 | 787.0 | 789.0 | 2.0 | 5.52 | TLX_3171 | Triple Lynx | |
including | 788.0 | 788.3 | 0.3 | 35.6 | |||
805.0 | 807.0 | 2.0 | 3.51 | TLX_3184 | Triple Lynx | ||
OSK-W-20-2283-W4 | 792.0 | 796.0 | 4.0 | 21.1 | TLX_3171 | Triple Lynx | |
808.0 | 810.9 | 2.9 | 9.76 | TLX_3184 | Triple Lynx | ||
including | 809.1 | 810.0 | 0.9 | 19.6 | |||
921.0 | 926.0 | 5.0 | 5.16 | TLX_3194 | Triple Lynx | ||
including | 922.7 | 924.0 | 1.3 | 13.9 | |||
OSK-W-20-2283-W5 | 803.8 | 811.0 | 7.2 | 37.7 | TLX_3171 | Triple Lynx | |
including | 807.7 | 809.0 | 1.3 | 76.5 | |||
OSK-W-20-2283-W7 | 840.0 | 847.0 | 7.0 | 10.4 | TLX_3184 | Triple Lynx | |
including | 844.0 | 845.0 | 1.0 | 42.3 | |||
849.0 | 852.0 | 3.0 | 6.33 | TLX_3184 | Triple Lynx | ||
OSK-W-20-2295-W4 | 882.0 | 884.3 | 2.3 | 26.8 | 21.5 | TLX_3195 | Triple Lynx |
including | 882.4 | 882.7 | 0.3 | 141 | 100 | ||
and | 884.0 | 884.3 | 0.3 | 55.8 | |||
OSK-W-20-2313-W7 | 960.0 | 962.0 | 2.0 | 3.92 | TLX_3193 | Triple Lynx | |
including | 960.7 | 961.4 | 0.7 | 11.0 | |||
OSK-W-20-2313-W8 | 827.8 | 830.0 | 2.2 | 3.82 | TLX_3171 | Triple Lynx | |
including | 828.6 | 828.9 | 0.3 | 20.8 | |||
OSK-W-20-2322-W3 | 1138.0 | 1140.2 | 2.2 | 6.26 | LX4_3430 | Lynx | |
including | 1139.6 | 1140.2 | 0.6 | 16.5 | |||
OSK-W-20-2346 | 978.0 | 980.0 | 2.0 | 12.1 | LX4_3413 | Lynx | |
1092.0 | 1094.1 | 2.1 | 3.83 | LX4_3438 | Lynx | ||
OSK-W-20-2363 | 630.0 | 632.1 | 2.1 | 16.7 | TLX_3178 | Triple Lynx | |
including | 630.4 | 630.9 | 0.5 | 62.2 | |||
OSK-W-20-2363-W1 | 955.0 | 957.0 | 2.0 | 7.28 | TLX_3195 | Triple Lynx | |
OSK-W-20-2375 | 887.3 | 890.0 | 2.7 | 9.19 | LX4_3414 | Lynx | |
including | 888.3 | 889.0 | 0.7 | 31.4 | |||
OSK-W-20-2381-W1 | 1228.0 | 1230.0 | 2.0 | 8.54 | LX4_3449 | Lynx | |
including | 1228.0 | 1228.7 | 0.7 | 24.3 | |||
OSK-W-20-2384 | 991.0 | 993.0 | 2.0 | 7.24 | LX4_3430 | Lynx | |
1000.5 | 1003.0 | 2.5 | 26.5 | 22.2 | LX4_3430 | Lynx | |
including | 1001.2 | 1001.7 | 0.5 | 122 | 100 | ||
1013.0 | 1015.0 | 2.0 | 19.5 | LX4_3430 | Lynx | ||
OSK-W-20-2385 | 755.0 | 757.3 | 2.3 | 17.0 | LX4_3426 | Lynx | |
including | 755.0 | 756.0 | 1.0 | 38.1 | |||
776.0 | 778.0 | 2.0 | 31.2 | LX4_3426 | Lynx | ||
including | 777.0 | 777.5 | 0.5 | 98.0 | |||
OSK-W-20-2385-W1 | 778.7 | 781.0 | 2.3 | 6.32 | LX4_3426 | Lynx | |
including | 779.2 | 779.6 | 0.4 | 24.3 | |||
OSK-W-20-2394 | 652.0 | 654.0 | 2.0 | 5.93 | TLX_3184 | Triple Lynx | |
including | 652.4 | 652.8 | 0.4 | 17.7 | |||
OSK-W-20-2394-W1 | 642.8 | 645.0 | 2.2 | 14.5 | TLX_3171 | Triple Lynx | |
including | 643.3 | 643.7 | 0.4 | 53.1 | |||
OSK-W-20-2397 | 660.8 | 664.4 | 3.6 | 11.1 | LXM_3304 | Lynx | |
including | 660.8 | 661.4 | 0.6 | 43.3 | |||
667.5 | 669.9 | 2.4 | 79.8 | 41.9 | LXM_3304 | Lynx | |
including | 668.2 | 669.1 | 0.9 | 201 | 100 | ||
676.9 | 679.1 | 2.2 | 20.5 | LXM_3304 | Lynx | ||
including | 678.1 | 678.6 | 0.5 | 82.9 | |||
WST-20-0492 | 116.9 | 119.2 | 2.3 | 22.3 | 17.6 | LXM_3303 | Lynx |
including | 116.9 | 117.3 | 0.4 | 127 | 100 | ||
WST-20-0524 | 81.9 | 86.2 | 4.3 | 3.58 | LXM_3311 | Lynx | |
WST-20-0548A | 67.6 | 70.3 | 2.7 | 36.0 | LXM_3339 | Lynx | |
including | 67.6 | 68.3 | 0.7 | 64.9 | |||
WST-20-0553 | 131.7 | 134.1 | 2.4 | 8.67 | LXM_3303 | Lynx | |
including | 132.3 | 132.8 | 0.5 | 33.0 | |||
WST-20-0570 | 70.7 | 72.7 | 2.0 | 8.74 | LXM_3361 | Lynx | |
including | 70.7 | 71.7 | 1.0 | 16.9 | |||
274.1 | 276.1 | 2.0 | 6.79 | LXSW_3556 | Lynx SW | ||
including | 274.1 | 275.0 | 0.9 | 13.0 | |||
WST-20-0571 | 394.4 | 396.5 | 2.1 | 10.3 | LXSW_3502 | Lynx SW | |
including | 395.8 | 396.1 | 0.3 | 60.1 | |||
WST-20-0572A | 285.0 | 287.0 | 2.0 | 6.39 | LXSW_3556 | Lynx | |
including | 286.0 | 287.0 | 1.0 | 12.6 | |||
WST-20-0577A | 75.0 | 77.5 | 2.5 | 12.9 | LXM_3303 | Lynx | |
including | 75.8 | 76.7 | 0.9 | 35.6 | |||
WST-20-0582 | 129.5 | 131.5 | 2.0 | 9.97 | LXM_3339 | Lynx | |
WST-20-0583 | 117.0 | 119.0 | 2.0 | 3.80 | LXM_3307 | Lynx | |
including | 118.5 | 119.0 | 0.5 | 8.03 | |||
WST-20-0592 | 129.8 | 132.0 | 2.2 | 4.61 | LXM_3303 | Lynx | |
including | 130.3 | 131.0 | 0.7 | 13.1 | |||
WST-20-0593 | 118.9 | 121.4 | 2.5 | 4.63 | LXM_3303 | Lynx | |
including | 118.9 | 119.9 | 1.0 | 11.5 | |||
WST-20-0611 | 262.7 | 265.2 | 2.5 | 26.8 | TLX_3161 | Triple Lynx | |
including | 262.7 | 263.6 | 0.9 | 66.9 | |||
WST-20-0628 | 112.1 | 114.5 | 2.4 | 6.47 | LXM_3334 | Lynx | |
including | 113.0 | 113.5 | 0.5 | 18.0 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-1432-W2 | 132 | -55 | 993 | 453811 | 5435779 | 400 | 4300 |
OSK-W-20-2133-W4 | 118 | -49 | 987 | 453080 | 5435531 | 417 | 3525 |
OSK-W-20-2170-W7 | 128 | -59 | 1205 | 453425 | 5435657 | 413 | 3900 |
OSK-W-20-2252-W5 | 129 | -54 | 1092 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2252-W10 | 129 | -54 | 824 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2256-W8 | 125 | -51 | 1056 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2271-W3 | 120 | -53 | 1235 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W4 | 120 | -53 | 1134 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W5 | 120 | -53 | 1247 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W6 | 120 | -53 | 1232 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2280-W2 | 127 | -58 | 1211 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W6 | 127 | -58 | 1152 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W7 | 127 | -58 | 1131 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W9 | 127 | -58 | 1037 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W3 | 135 | -50 | 1004 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W4 | 135 | -50 | 1012 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W5 | 135 | -50 | 1043 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W7 | 135 | -50 | 1049 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2295-W4 | 132 | -51 | 1082 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2313-W7 | 134 | -52 | 1086 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W8 | 134 | -52 | 1098 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2322-W3 | 130 | -54 | 1274 | 453608 | 5435715 | 403 | 4075 |
OSK-W-20-2346 | 130 | -53 | 1161 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2363 | 139 | -52 | 1031 | 452930 | 5435548 | 419 | 3425 |
OSK-W-20-2363-W1 | 139 | -52 | 1059 | 452930 | 5435548 | 419 | 3425 |
OSK-W-20-2375 | 122 | -56 | 1160 | 453810 | 5435779 | 400 | 4300 |
OSK-W-20-2381-W1 | 134 | -53 | 1274 | 453620 | 5435791 | 402 | 4125 |
OSK-W-20-2384 | 127 | -52 | 1164 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2385 | 125 | -54 | 873 | 453687 | 5435679 | 401 | 4150 |
OSK-W-20-2385-W1 | 125 | -54 | 937 | 453687 | 5435679 | 401 | 4150 |
OSK-W-20-2394 | 138 | -52 | 864 | 452922 | 5435468 | 415 | 3375 |
OSK-W-20-2394-W1 | 138 | -52 | 645 | 452922 | 5435468 | 415 | 3375 |
OSK-W-20-2397 | 131 | -58 | 1197 | 453451 | 5435594 | 412 | 3900 |
WST-20-0492 | 158 | -7 | 142 | 453256 | 5435209 | 97 | 3525 |
WST-20-0524 | 182 | -44 | 243 | 453104 | 5435064 | 231 | 3325 |
WST-20-0548A | 166 | -59 | 370 | 453227 | 5435126 | 134 | 3475 |
WST-20-0553 | 148 | -28 | 224 | 453257 | 5435209 | 96 | 3525 |
WST-20-0570 | 159 | -50 | 454 | 453104 | 5435065 | 231 | 3325 |
WST-20-0571 | 167 | -55 | 465 | 453104 | 5435065 | 231 | 3325 |
WST-20-0572A | 136 | -51 | 463 | 452955 | 5435004 | 252 | 3175 |
WST-20-0577A | 117 | -55 | 196 | 453316 | 5435167 | 124 | 3575 |
WST-20-0582 | 176 | -56 | 144 | 453177 | 5435125 | 173 | 3425 |
WST-20-0583 | 176 | -50 | 129 | 453177 | 5435125 | 173 | 3425 |
WST-20-0592 | 137 | -26 | 205 | 453257 | 5435209 | 96 | 3525 |
WST-20-0593 | 149 | -16 | 202 | 453257 | 5435209 | 96 | 3525 |
WST-20-0611 | 118 | -63 | 378 | 453358 | 5435273 | 16 | 3650 |
WST-20-0628 | 150 | -31 | 164 | 453321 | 5435235 | 55 | 3600 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
EXPANSION DRILLING ADDS NEW HIGH-GRADE FOR OSISKO
EXPANSION DRILLING ADDS NEW HIGH-GRADE FOR OSISKO
141 g/t Au Over 3.5 Metres in Lynx
29.2 g/t Au over 2.1 Metres in Caribou
31.4 g/t Au Over 2.4 Metres in F51
(Toronto, February 23, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Approximately 200,000 metres remain in the drill program, focused on the Lynx portion of the deposit. Osisko expects to complete resource drilling by the fall of 2021.
Osisko Chief Executive Officer John Burzynski commented: “Today’s expansion drill results are a strong confirmation that many of the zones across the deposit remain open to growth. The results presented below fall outside the wireframes in the recently published mineral resource estimate (“MRE”), and OSK-W-20-2391 in particular extends Triple Lynx 150 metres from the closest MRE block.”
Significant new analytical results presented below include 145 intercepts in 56 drill holes (31 from surface, 25 from underground) and 33 wedges.
Selected intercepts include: 141 g/t Au over 3.5 metres in WST-20-0524; 74.9 g/t Au over 2.3 metres in WST-20-0547; 57.8 g/t Au over 2.3 metres in OSK-W-20-2275-W4; 13.3 g/t Au over 6.4 metres in WST-20-0478; 26.0 g/t Au over 3.2 metres in OSK-W-20-2354-W1; 31.4 g/t Au over 2.4 metres in OSK-W-20-2391; 25.9 g/t Au over 2.9 metres in WST-20-0570; 15.9 g/t Au over 4.7 metres in WST-20-0346; 16.9 g/t Au over 4.2 metres in OSK-W-20-2354; and 24.4 g/t Au 2.9 metres in OSK-W-20-2369. Maps showing hole locations and full analytical results are available at www.osiskomining.com
Expansion Drilling
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-20-852-W2 | 792.2 | 794.5 | 2.3 | 4.68 | Caribou_2219 | Caribou | |
including | 793.2 | 793.5 | 0.3 | 32.7 | |||
OSK-W-20-852-W3 | 640.4 | 646.8 | 6.4 | 10.6 | Caribou | Caribou | |
including | 640.4 | 640.7 | 0.3 | 43.4 | |||
681.0 | 683.0 | 2.0 | 4.20 | Caribou_2255 | Caribou | ||
OSK-W-20-852-W4 | 814.0 | 816.0 | 2.0 | 13.9 | Caribou | Caribou | |
including | 814.0 | 815.0 | 1.0 | 21.8 | |||
OSK-W-20-913-W2 | 622.0 | 624.0 | 2.0 | 4.60 | Caribou | Caribou | |
including | 622.5 | 622.8 | 0.3 | 28.8 | |||
672.0 | 674.5 | 2.5 | 4.00 | Caribou | Caribou | ||
including | 673.0 | 673.5 | 0.5 | 16.8 | |||
755.0 | 757.0 | 2.0 | 16.7 | Caribou | Caribou | ||
including | 755.4 | 756.0 | 0.6 | 53.9 | |||
858.0 | 860.0 | 2.0 | 3.48 | Caribou | Caribou | ||
OSK-W-20-2170-W7 | 1102.0 | 1104.0 | 2.0 | 5.61 | TLX_3170 | Triple Lynx | |
including | 1102.5 | 1102.9 | 0.4 | 23.5 | |||
OSK-W-20-2252-W8 | 1190.0 | 1192.0 | 2.0 | 7.24 | Triple Lynx | Triple Lynx | |
including | 1190.0 | 1190.3 | 0.3 | 24.7 | |||
OSK-W-20-2252-W10 | 989.0 | 991.0 | 2.0 | 12.2 | TLX_3163 | Triple Lynx | |
993.0 | 999.6 | 6.6 | 9.83 | TLX_3163 | Triple Lynx | ||
including | 998.9 | 999.3 | 0.4 | 71.3 | |||
OSK-W-20-2256-W8 | 987.0 | 989.0 | 2.0 | 4.19 | TLX_3164 | Triple Lynx | |
OSK-W-20-2271-W4 | 792.0 | 794.0 | 2.0 | 29.4 | Lynx | Lynx | |
including | 792.0 | 793.0 | 1.0 | 55.0 | |||
804.0 | 807.0 | 3.0 | 8.32 | Lynx | Lynx | ||
including | 804.0 | 804.6 | 0.6 | 21.9 | |||
OSK-W-20-2275-W4 | 920.7 | 923.0 | 2.3 | 57.8 | 17.6 | Triple Lynx | Triple Lynx |
including | 921.2 | 921.5 | 0.3 | 408 | 100 | ||
OSK-W-20-2280-W6 | 937.5 | 939.5 | 2.0 | 4.75 | Triple Lynx | Triple Lynx | |
including | 937.5 | 937.8 | 0.3 | 16.1 | |||
1078.9 | 1081.0 | 2.1 | 11.3 | TLX_3170 | Triple Lynx | ||
OSK-W-20-2280-W8 | 960.9 | 964.0 | 3.1 | 5.07 | TLX_3163 | Triple Lynx | |
OSK-W-20-2280-W9 | 1071.0 | 1075.0 | 4.0 | 4.82 | TLX_3162 | Triple Lynx | |
including | 1074.0 | 1075.0 | 1.0 | 12.7 | |||
OSK-W-20-2283-W3 | 939.0 | 941.3 | 2.3 | 4.50 | TLX_3194 | Triple Lynx | |
including | 940.2 | 940.6 | 0.4 | 25.0 | |||
OSK-W-20-2283-W4 | 983.0 | 985.0 | 2.0 | 4.46 | TLX_3195 | Triple Lynx | |
OSK-W-20-2287 | 1284.0 | 1286.0 | 2.0 | 8.11 | LX4_3445 | Lynx | |
including | 1284.3 | 1284.8 | 0.5 | 32.0 | |||
OSK-W-20-2295-W2 | 919.6 | 921.6 | 2.0 | 3.76 | Triple Lynx | Triple Lynx | |
including | 919.6 | 920.0 | 0.4 | 18.4 | |||
OSK-W-20-2300 | 9.2 | 13.0 | 3.8 | 7.10 | F17 | F17 | |
24.0 | 26.0 | 2.0 | 9.95 | F17 | F17 | ||
39.0 | 44.3 | 5.3 | 9.59 | F17 | F17 | ||
OSK-W-20-2313-W4 | 1119.3 | 1121.9 | 2.6 | 4.08 | Triple Lynx | Triple Lynx | |
including | 1120.2 | 1121.0 | 0.8 | 12.5 | |||
OSK-W-20-2313-W5 | 911.9 | 914.0 | 2.1 | 21.2 | 17.5 | Triple Lynx | Triple Lynx |
including | 911.9 | 912.2 | 0.3 | 126 | 100 | ||
OSK-W-20-2313-W6 | 929.0 | 931.0 | 2.0 | 5.42 | Triple Lynx | Triple Lynx | |
including | 929.8 | 930.2 | 0.4 | 12.5 | |||
1003.2 | 1005.3 | 2.1 | 5.89 | TLX_3195 | Triple Lynx | ||
including | 1003.2 | 1003.7 | 0.5 | 18.5 | |||
OSK-W-20-2313-W7 | 868.7 | 872.6 | 3.9 | 6.43 | TLX_3161 | Triple Lynx | |
OSK-W-20-2319 | 290.0 | 292.5 | 2.5 | 5.93 | Bobcat | Bobcat | |
672.0 | 674.0 | 2.0 | 5.13 | Lynx SW | Lynx | ||
including | 672.0 | 672.9 | 0.9 | 11.4 | |||
OSK-W-20-2322-W3 | 812.0 | 814.4 | 2.4 | 24.4 | Lynx | Lynx | |
including | 812.5 | 813.0 | 0.5 | 59.6 | |||
857.0 | 859.0 | 2.0 | 6.67 | Lynx | Lynx | ||
including | 857.7 | 858.5 | 0.8 | 14.5 | |||
OSK-W-20-2328 | 287.0 | 289.5 | 2.5 | 4.92 | Caribou | Caribou | |
including | 289.1 | 289.5 | 0.4 | 24.4 | |||
351.6 | 353.6 | 2.0 | 3.95 | Caribou | Caribou | ||
OSK-W-20-2331 | 51.0 | 53.0 | 2.0 | 4.86 | Mallard_5216 | Mallard | |
OSK-W-20-2338 | 37.0 | 39.0 | 2.0 | 5.12 | F17 | F17 | |
OSK-W-20-2340 | 75.0 | 77.0 | 2.0 | 6.51 | F17 | F17 | |
including | 76.1 | 76.7 | 0.6 | 21.4 | |||
OSK-W-20-2346 | 590.0 | 592.0 | 2.0 | 6.20 | LXM_3323 | Lynx | |
809.0 | 811.0 | 2.0 | 3.79 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2354 | 501.0 | 503.3 | 2.3 | 5.33 | Caribou_2116 | Caribou | |
including | 501.0 | 502.0 | 1.0 | 12.0 | |||
620.0 | 622.0 | 2.0 | 24.7 | Caribou | Caribou | ||
including | 620.0 | 620.4 | 0.4 | 76.5 | |||
695.5 | 697.5 | 2.0 | 7.53 | Caribou_2217 | Caribou | ||
including | 696.7 | 697.1 | 0.4 | 29.2 | |||
728.7 | 730.7 | 2.0 | 19.5 | Caribou_2218 | Caribou | ||
including | 729.4 | 729.8 | 0.4 | 77.0 | |||
735.3 | 739.5 | 4.2 | 16.9 | 15.1 | Caribou_2218 | Caribou | |
including | 739.2 | 739.5 | 0.3 | 125 | 100 | ||
OSK-W-20-2354-W1 | 702.0 | 704.0 | 2.0 | 4.80 | Caribou | Caribou | |
including | 703.0 | 704.0 | 1.0 | 9.26 | |||
722.2 | 725.4 | 3.2 | 26.0 | Caribou | Caribou | ||
including | 723.4 | 724.0 | 0.6 | 55.3 | |||
757.2 | 759.9 | 2.7 | 13.5 | Caribou | Caribou | ||
including | 757.2 | 757.5 | 0.3 | 74.8 | |||
OSK-W-20-2354-W2 | 545.0 | 547.5 | 2.5 | 7.42 | Caribou | Caribou | |
including | 546.2 | 546.5 | 0.3 | 47.3 | |||
OSK-W-20-2354-W3 | 541.3 | 544.0 | 2.7 | 3.99 | Caribou | Caribou | |
OSK-W-20-2354-W4 | 730.4 | 733.0 | 2.6 | 4.65 | Caribou | Caribou | |
OSK-W-20-2362 | 58.0 | 60.0 | 2.0 | 31.7 | 25.6 | Bobcat_2355 | Bobcat |
including | 58.5 | 59.0 | 0.5 | 125 | 100 | ||
OSK-W-20-2363 | 970.6 | 972.6 | 2.0 | 3.88 | Triple Lynx | Triple Lynx | |
OSK-W-20-2363-W2 | 666.4 | 669.7 | 3.3 | 6.59 | TLX_3196 | Triple Lynx | |
including | 669.4 | 669.7 | 0.3 | 31.8 | |||
OSK-W-20-2365 | 44.0 | 46.5 | 2.5 | 8.36 | Bobcat | Bobcat | |
OSK-W-20-2369 | 584.9 | 587.8 | 2.9 | 24.4 | Lynx | Lynx | |
including | 586.7 | 587.8 | 1.1 | 35.6 | |||
640.0 | 642.0 | 2.0 | 29.2 | 26.4 | LXM_3304 | Lynx | |
including | 640.4 | 640.9 | 0.5 | 111 | 100 | ||
654.1 | 656.3 | 2.2 | 7.16 | LXM_3341 | Lynx | ||
including | 654.1 | 654.4 | 0.3 | 36.2 | |||
660.0 | 662.0 | 2.0 | 6.06 | LXM_3341 | Lynx | ||
OSK-W-20-2371 | 796.5 | 798.8 | 2.3 | 17.2 | 13.2 | Triple Lynx | Triple Lynx |
including | 796.5 | 796.8 | 0.3 | 131 | 100 | ||
1049.0 | 1051.0 | 2.0 | 7.30 | Lynx | Lynx | ||
OSK-W-20-2371-W1 | 847.0 | 849.0 | 2.0 | 7.72 | Triple Lynx | Triple Lynx | |
OSK-W-20-2371-W2 | 1023.0 | 1025.2 | 2.2 | 4.93 | Triple Lynx | Triple Lynx | |
OSK-W-20-2375-W1 | 907.3 | 909.7 | 2.4 | 18.5 | LX4_3437 | Lynx | |
including | 908.4 | 909.3 | 0.9 | 36.8 | |||
OSK-W-20-2376 | 131.6 | 133.8 | 2.2 | 4.01 | Caribou | Caribou | |
233.0 | 235.0 | 2.0 | 4.27 | Caribou | Caribou | ||
including | 233.0 | 233.3 | 0.3 | 27.6 | |||
OSK-W-20-2377-W1 | 876.5 | 878.6 | 2.1 | 28.9 | 24.0 | Caribou extension | Caribou |
including | 876.5 | 877.0 | 0.5 | 121 | 100 | ||
882.8 | 884.8 | 2.0 | 16.4 | Caribou extension | Caribou | ||
including | 882.8 | 883.8 | 1.0 | 32.7 | |||
OSK-W-20-2381 | 1116.4 | 1118.7 | 2.3 | 4.02 | Lynx 4 | Lynx | |
OSK-W-20-2384 | 547.0 | 549.0 | 2.0 | 9.31 | Lynx | Lynx | |
including | 548.0 | 549.0 | 1.0 | 18.2 | |||
OSK-W-20-2387-W1 | 496.0 | 498.1 | 2.1 | 4.17 | Caribou | Caribou | |
including | 496.0 | 496.4 | 0.4 | 12.2 | |||
OSK-W-20-2388 | 317.6 | 319.7 | 2.1 | 10.7 | Caribou | Caribou | |
including | 317.6 | 318.6 | 1.0 | 22.4 | |||
568.7 | 571.1 | 2.4 | 4.85 | Caribou_2250 | Caribou | ||
including | 570.0 | 570.5 | 0.5 | 18.4 | |||
663.0 | 665.0 | 2.0 | 11.6 | Caribou_2219 | Caribou | ||
including | 663.0 | 664.0 | 1.0 | 23.0 | |||
666.0 | 668.1 | 2.1 | 4.12 | Caribou_2219 | Caribou | ||
including | 667.5 | 668.1 | 0.6 | 13.7 | |||
OSK-W-20-2390 | 579.0 | 581.2 | 2.2 | 27.9 | Caribou_2247 | Caribou | |
including | 580.2 | 580.7 | 0.5 | 93.3 | |||
OSK-W-20-2391 | 234.6 | 237.0 | 2.4 | 31.4 | 21.3 | F51 | F51 |
including | 235.4 | 235.9 | 0.5 | 149 | 100 | ||
1372.5 | 1376.0 | 3.5 | 8.73 | Triple Lynx | Triple Lynx | ||
including | 1373.3 | 1373.7 | 0.4 | 36.0 | |||
1497.0 | 1503.0 | 6.0 | 8.84 | Triple Lynx | Triple Lynx | ||
1526.0 | 1528.0 | 2.0 | 15.7 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2397 | 603.0 | 605.1 | 2.1 | 9.70 | Lynx | Lynx | |
including | 603.3 | 604.0 | 0.7 | 27.3 | |||
612.0 | 614.0 | 2.0 | 7.36 | Lynx | Lynx | ||
654.0 | 656.5 | 2.5 | 4.16 | LXM_3304 | Lynx | ||
including | 655.0 | 655.4 | 0.4 | 12.5 | |||
698.5 | 700.5 | 2.0 | 4.07 | LXM_3304 | Lynx | ||
including | 700.0 | 700.5 | 0.5 | 11.9 | |||
975.0 | 977.1 | 2.1 | 7.12 | Lynx 4 | Lynx | ||
1031.0 | 1033.0 | 2.0 | 11.0 | Lynx 4 | Lynx | ||
including | 1032.7 | 1033.0 | 0.3 | 69.9 | |||
1039.0 | 1041.0 | 2.0 | 4.76 | Lynx 4 | Lynx | ||
including | 1039.6 | 1040.3 | 0.7 | 12.9 | |||
1058.0 | 1060.2 | 2.2 | 26.1 | 19.6 | LX4_3430 | Lynx | |
including | 1058.8 | 1059.2 | 0.4 | 136 | 100 | ||
OSK-W-20-2399-W1 | 551.0 | 554.3 | 3.3 | 19.2 | Caribou_2523 | Caribou | |
including | 553.5 | 554.3 | 0.8 | 69.0 | |||
OSK-W-20-2400 | 815.0 | 817.0 | 2.0 | 9.57 | Caribou | Caribou | |
including | 815.4 | 816.0 | 0.6 | 31.5 | |||
OSK-W-20-2405 | 519.6 | 521.8 | 2.2 | 4.59 | Caribou | Caribou | |
OSK-W-20-2405-W1 | 518.0 | 520.0 | 2.0 | 8.09 | Caribou | Caribou | |
620.0 | 622.0 | 2.0 | 6.44 | Caribou | Caribou | ||
including | 620.5 | 621.0 | 0.5 | 22.8 | |||
669.0 | 672.0 | 3.0 | 8.57 | Caribou | Caribou | ||
OSK-W-20-2406 | 635.0 | 638.7 | 3.7 | 10.1 | Caribou_2241 | Caribou | |
including | 636.0 | 637.0 | 1.0 | 21.8 | |||
642.0 | 649.3 | 7.3 | 6.34 | Caribou_2241 | Caribou | ||
including | 647.7 | 648.3 | 0.6 | 17.9 | |||
and | 648.7 | 649.3 | 0.6 | 21.0 | |||
OSK-W-20-2415 | 639.8 | 643.5 | 3.7 | 7.66 | Caribou_2233 | Caribou | |
including | 639.8 | 640.1 | 0.3 | 27.9 | |||
and | 640.4 | 640.7 | 0.3 | 33.2 | |||
680.0 | 682.3 | 2.3 | 8.40 | Caribou_2217 | Caribou | ||
including | 681.4 | 682.3 | 0.9 | 19.4 | |||
OSK-W-20-2421 | 685.0 | 687.2 | 2.2 | 6.02 | Caribou | Caribou | |
OSK-W-20-2425 | 298.0 | 301.0 | 3.0 | 18.9 | Caribou | Caribou | |
including | 299.0 | 300.0 | 1.0 | 40.4 | |||
OSK-W-20-2432 | 725.0 | 727.4 | 2.4 | 9.40 | Caribou | Caribou | |
including | 726.1 | 726.4 | 0.3 | 32.4 | |||
794.6 | 799.6 | 5.0 | 6.98 | Caribou | Caribou | ||
including | 794.6 | 795.5 | 0.9 | 20.4 | |||
804.3 | 806.6 | 2.3 | 7.92 | Caribou | Caribou | ||
including | 804.3 | 805.1 | 0.8 | 20.0 | |||
OSK-W-20-2440 | 719.0 | 721.0 | 2.0 | 6.26 | Caribou | Caribou | |
including | 719.0 | 719.8 | 0.8 | 15.6 | |||
OSK-W-21-2451 | 430.8 | 434.0 | 3.2 | 20.4 | Caribou | Caribou | |
including | 431.2 | 431.6 | 0.4 | 94.7 | |||
516.8 | 519.0 | 2.2 | 8.78 | Caribou | Caribou | ||
including | 517.1 | 517.7 | 0.6 | 30.1 | |||
OSK-W-21-2455 | 479.9 | 482.2 | 2.3 | 21.0 | 15.0 | Caribou_2116 | Caribou |
including | 479.9 | 480.2 | 0.3 | 146 | 100 | ||
WST-20-0346 | 118.2 | 120.4 | 2.2 | 16.1 | Caribou_2151 | Caribou | |
including | 118.2 | 118.7 | 0.5 | 69.8 | |||
348.0 | 352.7 | 4.7 | 15.9 | Caribou corridor | Caribou | ||
WST-20-0476 | 260.9 | 263.1 | 2.2 | 5.92 | Caribou corridor | Caribou | |
374.8 | 376.8 | 2.0 | 12.7 | Caribou corridor | Caribou | ||
including | 376.3 | 376.8 | 0.5 | 45.8 | |||
WST-20-0477 | 52.4 | 55.0 | 2.6 | 9.78 | Mallard | Mallard | |
228.0 | 230.4 | 2.4 | 4.55 | Caribou_2100 | Caribou | ||
WST-20-0478 | 167.6 | 174.0 | 6.4 | 13.3 | 12.8 | Caribou_2151 | Caribou |
including | 172.4 | 173.0 | 0.6 | 106 | 100 | ||
354.0 | 356.0 | 2.0 | 4.72 | Caribou | Caribou | ||
including | 354.0 | 354.5 | 0.5 | 18.4 | |||
WST-20-0479B | 147.1 | 149.1 | 2.0 | 7.97 | Z27_1115 | Zone 27 | |
157.5 | 159.8 | 2.3 | 5.66 | Z27 | Zone 27 | ||
WST-20-0480B | 376.0 | 378.0 | 2.0 | 9.80 | Caribou | Caribou | |
WST-20-0496 | 302.0 | 304.2 | 2.2 | 4.24 | Lynx SW | Lynx SW | |
including | 303.4 | 303.7 | 0.3 | 30.7 | |||
513.6 | 516.2 | 2.6 | 10.9 | Lynx SW | Lynx SW | ||
including | 513.6 | 513.9 | 0.3 | 81.3 | |||
WST-20-0521 | 367.0 | 369.1 | 2.1 | 12.1 | Caribou | Caribou | |
including | 367.6 | 368.6 | 1.0 | 24.4 | |||
WST-20-0522 | 374.0 | 376.0 | 2.0 | 6.98 | Lynx SW | Lynx SW | |
including | 374.8 | 375.5 | 0.7 | 19.7 | |||
WST-20-0524 | 225.8 | 229.3 | 3.5 | 141 | 28.6 | Lynx SW | Lynx SW |
including | 228.4 | 229.3 | 0.9 | 536 | 100 | ||
WST-20-0534 | 122.0 | 124.2 | 2.2 | 10.4 | LXM_3359 | Lynx | |
including | 123.2 | 124.2 | 1.0 | 22.9 | |||
WST-20-0547 | 421.6 | 423.9 | 2.3 | 74.9 | 43.4 | LXSW_3502 | Lynx |
including | 423.0 | 423.9 | 0.9 | 181 | 100 | ||
WST-20-0552 | 127.0 | 129.0 | 2.0 | 11.1 | LXM_3339 | Lynx | |
including | 127.6 | 128.3 | 0.7 | 29.9 | |||
235.7 | 238.0 | 2.3 | 22.7 | LXSW_3506 | Lynx | ||
including | 236.4 | 237.4 | 1.0 | 51.8 | |||
WST-20-0556 | 96.3 | 98.4 | 2.1 | 4.66 | Bobcat | Bobcat | |
including | 97.8 | 98.4 | 0.6 | 13.5 | |||
WST-20-0566A | 13.7 | 17.2 | 3.5 | 17.7 | Mallard_5211 | Mallard | |
including | 14.6 | 15.3 | 0.7 | 38.3 | |||
WST-20-0567 | 58.0 | 60.0 | 2.0 | 4.55 | Z27 | Zone 27 | |
including | 58.0 | 59.0 | 1.0 | 9.01 | |||
296.0 | 298.0 | 2.0 | 5.01 | Caribou corridor | Caribou | ||
WST-20-0569 | 259.9 | 262.0 | 2.1 | 14.6 | LXSW_3507 | Lynx SW | |
including | 261.5 | 262.0 | 0.5 | 26.7 | |||
WST-20-0570 | 206.2 | 209.1 | 2.9 | 25.9 | Lynx SW | Lynx SW | |
including | 207.8 | 208.4 | 0.6 | 55.0 | |||
WST-20-0572A | 272.0 | 274.0 | 2.0 | 11.0 | LXSW_3556 | Lynx SW | |
WST-20-0574 | 283.6 | 285.9 | 2.3 | 13.7 | Lynx SW | Lynx SW | |
WST-20-0578 | 170.0 | 172.0 | 2.0 | 24.3 | LXM_3304 | Lynx | |
including | 170.8 | 171.2 | 0.4 | 76.8 | |||
785.0 | 792.0 | 7.0 | 9.09 | LX4_3412 | Lynx | ||
including | 789.5 | 790.4 | 0.9 | 24.2 | |||
WST-20-0581 | 408.9 | 411.0 | 2.1 | 14.8 | LXSW_3556 | Lynx | |
including | 408.9 | 409.8 | 0.9 | 34.4 | |||
WST-20-0589 | 351.0 | 353.1 | 2.1 | 29.2 | Caribou | Caribou | |
including | 351.7 | 352.6 | 0.9 | 67.7 | |||
WST-20-0584 | 122.0 | 124.0 | 2.0 | 11.4 | LXM_3301 | Lynx | |
WST-20-0626 | 134.4 | 136.8 | 2.4 | 4.19 | LXM_3307 | Lynx | |
including | 134.4 | 135.0 | 0.6 | 9.74 | |||
138.3 | 140.5 | 2.2 | 19.4 | LXM_3307 | Lynx | ||
including | 138.8 | 139.8 | 1.0 | 41.4 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-852-W2 | 330 | -55 | 873 | 452874 | 5434552 | 398 | 2875 |
OSK-W-20-852-W3 | 330 | -55 | 849 | 452874 | 5434552 | 398 | 2875 |
OSK-W-20-852-W4 | 330 | -55 | 873 | 452874 | 5434552 | 398 | 2875 |
OSK-W-20-913-W2 | 334 | -52 | 913 | 452878 | 5434419 | 401 | 2825 |
OSK-W-20-2170-W7 | 128 | -59 | 1205 | 453425 | 5435657 | 413 | 3900 |
OSK-W-20-2252-W8 | 129 | -54 | 1239 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2252-W10 | 129 | -54 | 824 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2256-W8 | 125 | -51 | 1056 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2271-W4 | 120 | -53 | 1134 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2275-W4 | 127 | -49 | 1052 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2280-W6 | 127 | -58 | 1152 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W8 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W9 | 127 | -58 | 1037 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W3 | 135 | -50 | 1004 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W4 | 135 | -50 | 1012 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2287 | 116 | -53 | 1406 | 453607 | 5435714 | 404 | 4075 |
OSK-W-20-2295-W2 | 132 | -51 | 963 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2300 | 152 | -45 | 192 | 452699 | 5435578 | 406 | 3225 |
OSK-W-20-2313-W4 | 134 | -52 | 1134 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W5 | 134 | -52 | 1086 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W6 | 134 | -52 | 1029 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W7 | 134 | -52 | 1086 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2319 | 141 | -50 | 768 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2322-W3 | 130 | -54 | 1274 | 453608 | 5435715 | 403 | 4075 |
OSK-W-20-2328 | 136 | -56 | 942 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2331 | 335 | -50 | 239 | 451987 | 5434764 | 406 | 2200 |
OSK-W-20-2338 | 155 | -57 | 213 | 452679 | 5435584 | 405 | 3200 |
OSK-W-20-2340 | 146 | -55 | 201 | 452650 | 5435568 | 405 | 3175 |
OSK-W-20-2346 | 130 | -53 | 1161 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2354 | 336 | -60 | 759 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2354-W1 | 336 | -60 | 792 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2354-W2 | 336 | -60 | 750 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2354-W3 | 336 | -60 | 750 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2354-W4 | 336 | -60 | 783 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2362 | 350 | -45 | 256 | 452719 | 5434777 | 398 | 2850 |
OSK-W-20-2363 | 139 | -52 | 1031 | 452930 | 5435548 | 419 | 3425 |
OSK-W-20-2363-W2 | 139 | -52 | 695 | 452930 | 5435548 | 419 | 3425 |
OSK-W-20-2365 | 354 | -46 | 312 | 452673 | 5434766 | 398 | 2800 |
OSK-W-20-2369 | 130 | -56 | 909 | 453426 | 5435565 | 410 | 3850 |
OSK-W-20-2371 | 123 | -53 | 1203 | 452996 | 5435364 | 412 | 3375 |
OSK-W-20-2371-W1 | 123 | -53 | 1032 | 452996 | 5435364 | 412 | 3375 |
OSK-W-20-2371-W2 | 123 | -53 | 945 | 452996 | 5435364 | 412 | 3375 |
OSK-W-20-2375-W1 | 122 | -56 | 987 | 453810 | 5435779 | 400 | 4300 |
OSK-W-20-2376 | 325 | -55 | 510 | 452689 | 5434635 | 398 | 2750 |
OSK-W-20-2377-W1 | 132 | -49 | 1097 | 452702 | 5435548 | 409 | 3225 |
OSK-W-20-2381 | 134 | -53 | 1230 | 453620 | 5435791 | 402 | 4125 |
OSK-W-20-2384 | 127 | -52 | 1164 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2387-W1 | 336 | -59 | 738 | 452694 | 5434440 | 401 | 2675 |
OSK-W-20-2388 | 326 | -61 | 363 | 452715 | 5434606 | 397 | 2775 |
OSK-W-20-2390 | 330 | -65 | 647 | 452597 | 5434393 | 401 | 2550 |
OSK-W-20-2391 | 117 | -57 | 1230 | 453281 | 5435894 | 408 | 3900 |
OSK-W-20-2397 | 131 | -58 | 1197 | 453451 | 5435594 | 412 | 3900 |
OSK-W-20-2399-W1 | 333 | -54 | 425 | 452874 | 5434552 | 398 | 2875 |
OSK-W-20-2400 | 336 | -53 | 884 | 452876 | 5434419 | 402 | 2825 |
OSK-W-20-2405 | 332 | -58 | 723 | 452694 | 5434440 | 401 | 2675 |
OSK-W-20-2405-W1 | 332 | -58 | 716 | 452694 | 5434440 | 401 | 2675 |
OSK-W-20-2406 | 333 | -56 | 623 | 452632 | 5434280 | 400 | 2525 |
OSK-W-20-2415 | 328 | -54 | 143 | 452738 | 5434474 | 401 | 2725 |
OSK-W-20-2421 | 332 | -59 | 699 | 452632 | 5434280 | 400 | 2525 |
OSK-W-20-2425 | 336 | -60 | 747 | 452715 | 5434606 | 397 | 2775 |
OSK-W-20-2432 | 333 | -57 | 864 | 452809 | 5434415 | 404 | 2750 |
OSK-W-20-2440 | 330 | -52 | 807 | 452739 | 5434474 | 401 | 2725 |
OSK-W-21-2451 | 330 | -58 | 803 | 452809 | 5434415 | 404 | 2750 |
OSK-W-21-2455 | 328 | -53 | 780 | 452738 | 5434474 | 401 | 2725 |
WST-20-0346 | 136 | -18 | 391 | 452282 | 5434975 | 264 | 2575 |
WST-20-0476 | 132 | -33 | 403 | 452282 | 5434975 | 263 | 2575 |
WST-20-0477 | 131 | -30 | 394 | 452282 | 5434976 | 263 | 2575 |
WST-20-0478 | 123 | -31 | 391 | 452282 | 5434976 | 263 | 2575 |
WST-20-0479B | 138 | -59 | 393 | 452281 | 5434975 | 262 | 2575 |
WST-20-0480B | 142 | -52 | 382 | 452281 | 5434975 | 262 | 2575 |
WST-20-0496 | 173 | -60 | 537 | 453227 | 5435125 | 134 | 3475 |
WST-20-0521 | 151 | -58 | 385 | 452281 | 5434975 | 262 | 2575 |
WST-20-0522 | 177 | -52 | 457 | 453104 | 5435064 | 231 | 3325 |
WST-20-0524 | 182 | -44 | 243 | 453104 | 5435064 | 231 | 3325 |
WST-20-0534 | 143 | -32 | 135 | 453315 | 5435165 | 124 | 3575 |
WST-20-0547 | 167 | -53 | 487 | 453227 | 5435125 | 134 | 3475 |
WST-20-0552 | 165 | -39 | 517 | 453257 | 5435209 | 97 | 3525 |
WST-20-0556 | 155 | -26 | 163 | 452955 | 5435003 | 254 | 3175 |
WST-20-0566A | 133 | -16 | 368 | 452208 | 5434898 | 248 | 2475 |
WST-20-0567 | 139 | -19 | 379 | 452208 | 5434898 | 248 | 2475 |
WST-20-0569 | 165 | -59 | 526 | 453104 | 5435065 | 231 | 3325 |
WST-20-0570 | 159 | -50 | 454 | 453104 | 5435065 | 231 | 3325 |
WST-20-0572A | 136 | -51 | 463 | 452955 | 5435004 | 252 | 3175 |
WST-20-0574 | 139 | -62 | 370 | 452955 | 5435004 | 252 | 3175 |
WST-20-0578 | 151 | -46 | 802 | 453418 | 5435306 | 68 | 3725 |
WST-20-0581 | 181 | -60 | 474 | 453177 | 5435126 | 173 | 3425 |
WST-20-0589 | 147 | -55 | 376 | 452281 | 5434975 | 263 | 2575 |
WST-20-0584 | 174 | -19 | 205 | 453417 | 5435304 | 69 | 3725 |
WST-20-0626 | 194 | -59 | 471 | 453176 | 5435125 | 173 | 3425 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Caribou Zone
Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.
F-Zone
Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.
Bobcat
Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.
Mallard
Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release, certain of which are described in the February 17, 2021 news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days from February 17, 2021. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 metres in others with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO MINING UPDATES WINDFALL MINERAL RESOURCE ESTIMATE
1.86M oz Au M&I Resource Averaging 9.6 g/t Au
4.24M oz Au Inferred Resource Averaging 8.0 g/t Au
(Toronto, February 17, 2021) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to provide an updated mineral resource estimate (the “MRE”) for its 100% owned world-class Windfall gold deposit, located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
This MRE is based on drilling completed as of September 2020, and includes analytical results received as of November 30, 2020. Approximately 100,000 metres of drilling has been completed since the above dates, with a further 200,000 metres in progress and expected to be completed by the third quarter of 2021. A subsequent MRE for the Windfall feasibility study will follow the completion of the infill program.
HIGHLIGHTS
- M&I grade of 9.6 g/t Au continues trend of grade increase with infill program
- M&I ounces increased 54%
- Lynx represents over 60% of the total MRE ounces with average grades of 11.3 g/t Au Measured; 11.0 g/t Au Indicated; and 9.9 g/t Au Inferred
- Significant Lynx high-grade zones remain open to expansion down plunge
- Remainder of infill drilling is focused on Lynx with >30 drills
- Discovery and definition cost averages US$38/oz[1]
- Deposit average of 4.5 oz Au defined per metre drilled
John Burzynski, Chief Executive Officer of Osisko Mining, commented: “We are pleased to deliver this updated MRE, as Windfall continues to impress with increasing average grade and scale. The infill drill program is exceeding our expectations, with the M&I resource average grade increasing to 9.6 g/t Au. We anticipate that by the end of the infill program and in the subsequent MRE, we will see another significant addition to the M&I resource with increased grade, and further growth of the deposit scale. We have had strong infill results since the cut-off date that have not been included in this current estimate, and ongoing drilling continues to be encouraging as we work steadily towards the completion of our drill program.”
Mr. Burzynski continued: “The past year has provided some unforeseen challenges, and despite this, we have managed to advance our work significantly. We would like very much to thank our Cree First Nation hosts and partners, local and provincial governments, our employees and contractors, our stakeholders and our shareholders for their help and strong support.”
Table 1: Windfall Gold Deposit Mineral Resource Estimate Sensitivity Table
Cut-off Grade (g/t Au) |
Measured + Indicated | Inferred | ||||||||
Tonnes (000 t) |
Grade Au (g/t) | Grade Ag (g/t) | Ounces Au (000 oz) | Ounces Ag (000 oz) | Tonnes (000 t) |
Grade Au (g/t) | Grade Ag (g/t) | Ounces Au (000 oz) | Ounces Ag (000 oz) | |
5.00 | 4,214 | 11.9 | 6.8 | 1,614 | 918 | 10,525 | 10.2 | 3.3 | 3,454 | 1,133 |
4.50 | 4,721 | 11.1 | 6.5 | 1,692 | 981 | 12,090 | 9.5 | 3.1 | 3,693 | 1,215 |
4.00 | 5,304 | 10.4 | 6.2 | 1,771 | 1,059 | 14,045 | 8.8 | 2.9 | 3,960 | 1,319 |
3.50 | 6,023 | 9.6 | 5.9 | 1,857 | 1,149 | 16,401 | 8.0 | 2.7 | 4,244 | 1,446 |
3.00 | 6,882 | 8.8 | 5.7 | 1,947 | 1,257 | 19,561 | 7.3 | 2.6 | 4,574 | 1,604 |
2.50 | 7,971 | 8.0 | 5.4 | 2,043 | 1,381 | 23,676 | 6.5 | 2.4 | 4,937 | 1,806 |
Note: The MRE uses a cut-off grade of 3.5 g/t Au.
Table 2: Windfall Gold Deposit Mineral Resource Estimate by Area (3.5 g/t Au cut-off)
Area | Measured | Indicated | Inferred | |||||||||||||||
Tonnes1(000 t) | Grade Au
(g/t) |
Grade Ag
(g/t) |
Ounces Au1
(000 oz) |
Ounces Ag1
(000 oz) |
Tonnes1(000 t) | Grade Au
(g/t) |
Grade Ag
(g/t) |
Ounces Au1
(000 oz) |
Ounces Ag1
(000 oz) |
Tonnes1(000 t) | Grade Au
(g/t) |
Grade Ag
(g/t) |
Ounces Au1
(000 oz) |
Ounces Ag1
(000 oz) |
||||
Lynx2 | 521 | 11.3 | 8.1 | 189 | 135 | 3 075 | 11.0 | 6.6 | 1 088 | 655 | 7 418 | 9.9 | 3.5 | 2 355 | 833 | |||
Underdog | – | – | – | – | – | 562 | 8.0 | 1.1 | 145 | 20 | 4 788 | 6.9 | 0.9 | 1 068 | 139 | |||
Main3 | – | – | – | – | – | 1 865 | 7.3 | 5.7 | 436 | 339 | 3 540 | 5.9 | 3.3 | 673 | 375 | |||
Triple 8 | – | – | – | – | – | – | – | – | – | – | 655 | 7.1 | 4.7 | 149 | 99 | |||
Total | 521 | 11.3 | 8.1 | 189 | 135 | 5 502 | 9.4 | 5.7 | 1 668 | 1 013 | 16 401 | 8.0 | 2.7 | 4 244 | 1 446 | |||
Notes: 1 Values are rounded to nearest thousand which may cause apparent discrepancies.
2 Lynx area includes: Lynx Main, Lynx HW, Lynx SW and Lynx 4, Triple Lynx.
3 Main area includes: Zone 27, Caribou, Mallard, Windfall Nord, and F-Zones.
See Windfall Gold Deposit Mineral Resource Estimate notes further below.
“Located in Québec, one of the worlds best mining jurisdictions, this MRE places Windfall among the best high-grade development projects globally.” added Mr. Burzynski. “Apart from the infill program, additional drills are exploring down plunge extensions of Lynx, the nearby Fox trend, and targets along strike from the Windfall deposit. The Windfall exploration ramp is advancing towards the third bulk sample in Triple Lynx, and we have received authorization to conduct test stopes in Lynx to optimize future mining parameters and grade distribution.”
This MRE is the result of 3,612 drill holes (1,343,593 metres of core) in the resource area, including 2,959 drill holes (1,161,872 metres of core) completed by Osisko from October 2015 to September 2020 with assays up to November 30, 2020. The Windfall MRE (with an effective date of November 30, 2020) was prepared by Osisko and reviewed and audited by BBA Inc., Montréal, Québec. The full technical report, which is being prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI-43-101”), will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days.
This mineral resource estimate reflects the current status of the geological interpretation supported by infill drilling, underground mapping and bulk sample results. Most mineralized envelopes in the Main area are associated with pyritic stringers occurring near contacts between volcanic rocks and younger intrusive rocks. The Lynx mineralized zones form an extensive anastomosed network of quartz-rich and pyrite-rich veins hosted within strongly silicified volcanic rocks. This system is located on the southern limb of an open fold plunging at 40 degrees towards ENE along the Bank fault-shear zone.
The MRE is 50% contained within 22 wireframes and 75% contained within 62 wireframes. The MRE considers a total of 374 mineralized zones defined by individual wireframes with a minimum true thickness of 2.0 metres. The MRE reports grade blocks inside volumes potentially mineable by underground methods at a cut-off grade of 3.5 g/t Au. The cut-off calculation below has been rounded up to 3.5 g/t Au to better represent a future mining cut-off.
Table 3: Parameters used to estimate the underground cut-off grade
for the Windfall Gold Deposit Mineral Resource Estimation
Parameters | Unit | Value |
Gold Price | USD/oz | 1,485 |
Exchange Rate | USD/CAD | 1.3 |
Mill Recovery | % | 94 |
Payability | % | 99.95 |
Sell Cost | USD/oz | 5 |
Royalties (NSR) | % | 2 |
Mining Cost | C$/T milled | 100 |
G&A Cost | C$/T milled | 30 |
Processing Cost | C$/T milled | 40 |
Transportation | C$/T milled | 2 |
Environment | C$/T milled | 10 |
Calculated Cut-off Grade | g/t Au | 3.2 |
MRE Cut-off Grade | g/t Au | 3.5 |
Windfall Gold Deposit Mineral Resource Estimate Notes
- The independent qualified person for the 2021 MRE, as defined by NI 43-101 guidelines, is Pierre-Luc Richard, P.Geo.(OGQ#1119), of BBA Inc. The effective date of the estimate is November 30, 2020.
- The Windfall mineral resource estimate is compliant with the November 29, 2019 CIM Estimation of Mineral Resources and Mineral Reserves Best Practice Guidelines.
- These mineral resources are not mineral reserves as they have not demonstrated economic viability. The quantity and grade of reported Inferred mineral resources in this news release are uncertain in nature and there has been insufficient exploration to define these resources as Indicated or Measured; however, it is reasonably expected that the majority of Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration.
- Resources are presented undiluted and in situ and are considered to have reasonable prospects for economic extraction. Isolated and discontinuous blocks above the stated cut-off grade are excluded from the mineral resource estimate. Must-take material, i.e. isolated blocks below cut-off grade located within a potentially mineable volume, was included in the mineral resource estimate.
- As of November 30, 2020, the database comprises a total of 3,612 drill holes for 1,343,593 metres of drilling in the area extent of the mineral resource estimate, of which 2,959 drill holes (1,161,872 metres) were completed and assayed by Osisko. The drill hole grid spacing is approximately 12.5 metre x 12.5 metre for definition drilling, 25 metre x 25 metre for infill drilling and larger for extension drilling.
- All core assays reported by Osisko were obtained by analytical methods described below under “Quality Control and Reporting Protocols”.
- Geological interpretation of the deposit is based on lithologies, mineralization style, alteration and structural features. Most mineralization envelopes are subvertical, striking NE-SW and plunging approximately 40 degrees towards the North-East. The 3D wireframing was generated in Leapfrog Geo, a modelling software, from hand selections of mineralization intervals. The mineral resource estimate includes a total of 374 tabular, mostly sub-vertical domains defined by individual wireframes with a minimum true thickness of 2.0 metres.
- Assays were composited within the mineralization domains into 2.0 metres length composites. A value of 0.00125 g/t Au and 0.0025 g/t Ag (¼ of the detection limit) was applied to unassayed core intervals.
- High-grade composites were capped. Cappings were determined in each area from statistical studies on groups of zones sharing similar mineralization characteristics. Cappings vary from 10 g/t Au to 200 g/t Au and from 5 g/t Ag to 150 g/t Ag. A multiple capping strategy defined by capping values decreasing as interpolation search distances increase was used in the grade estimations.
- Block models were produced using Datamine™ Studio RM Software. The models are defined by parent cell sizes of 5 metres NE, 2 meters NW and 5 metres height, and sublocked to minimum subcell sizes of 1.25 meters NE, 0.5 metres NW and 1.25 metres height.
- Ordinary Kriging (OK) based interpolations were produced for gold estimations in each area of the Windfall deposit, while silver grade estimations were produced using Ordinary Kriging (OK) or Inverse Distance Squared (ID2) interpolations. Gold estimation parameters are based on composite variography analyses. The gold estimation parameters were used for the silver estimation.
- Density values of 2.8 were applied to the mineralized zones.
- The Windfall mineral resource estimate is categorized as measured, indicated and inferred mineral resource as follows:
a. The measured mineral resource category is manually defined and enclosed areas where:
i. the drill spacing is less than 12.5 metres,
ii. blocks are informed by a minimum of four drill holes,
iii. geological evidence is sufficient to confirm geological and grade continuity,
iv. zones have been accessed by underground workings.
b. The indicated mineral resource category is manually defined and encloses areas where:
i. the drill spacing is generally less than 12.5 metres,
ii. blocks are informed by a minimum of two drill holes,
iii. geological evidence is sufficient to assume geological and grade continuity.
c. The inferred mineral resource category is manually defined and encloses areas where:
i. drill spacing is less than 100 metres,
ii. blocks are informed by a minimum of two drill holes,
iii. geological evidence is sufficient to imply, but not verify geological and grade continuity. - The mineral resource is reported at 3.5 g/t Au cut-off. The cut-off grade is based on the following economic parameters: gold price at 1,485 USD/oz, exchange rate at 1.30 USD/CAD, 94% mill recovery; payability of 99.95%; selling cost at 5 USD/oz, 2% NSR royalties, mining cost at 100 C$/t milled, G&A cost at 30 C$/t milled, processing cost at 40 C$/t, transportation cost at 2 C$/t considering mill at site, and environment cost at 10 C$/t. A cut-off grade of 3.5 g/t Au was selected over the calculated cut-off grade of 3.2 g/t Au to better reflect a realistic mining cut-off.
- Estimates use metric units (metres, tonnes and g/t). Metal contents are presented in troy ounces (metric tonne x grade / 31.10348).
- The independent qualified person is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political or marketing issues, or any other relevant issue, that could materially affect the mineral resource estimate.
- Values in tonnes and ounces are rounded to nearest thousand which may cause apparent discrepancies.
Qualified Person
The Windfall mineral resource estimate, with an effective date of November 30, 2020, was (i) prepared by Judith St-Laurent, P.Geo (OGQ #1023), B.Sc., Director of Resources Estimation at Osisko, and (ii) reviewed and approved by Pierre-Luc Richard, M.Sc., P.Geo (OGQ#1119,), each of whom is a “qualified person” within the meaning of NI 43-101. Mr. Richard is an employee of BBA Inc. and is considered to be “independent” of Osisko for purposes of section 1.5 of NI 43-101. The scientific and technical content in this news release has been reviewed and approved by Mr. Mathieu Savard, P.Geo (OGQ #510), President of Osisko, who is a “qualified person” within the meaning of NI 43-101.
Quality Control and Reporting Protocols
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 this news release 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 this news release, certain of which are described in this news release, will be further described in the full technical report being prepared for this updated mineral resource estimate in accordance with NI 43-101, and will be available on SEDAR (www.sedar.com) under the Corporation’s issuer profile within 45 days. 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 2,625metres in others with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% undivided interest in a large area of claims in the surrounding the Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
Cautionary Statements Regarding Estimates of Mineral Resources
This news release uses the terms measured, indicated and inferred mineral resources as a relative measure of the level of confidence in the resource estimate. Readers are cautioned that mineral resources are not mineral reserves and that the economic viability of resources that are not mineral reserves has not been demonstrated. The mineral resource estimate disclosed in this news release may be materially affected by geology, environmental, permitting, legal, title, socio-political, marketing or other relevant issues. The mineral resource estimate is classified in accordance with the Canadian Institute of Mining, Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” incorporated by reference into NI 43-101 (“CIM”). Under NI 43-101, estimates of inferred mineral resources may not form the basis of feasibility or pre-feasibility studies or economic studies except for preliminary economic assessments. Readers are cautioned not to assume that further work on the stated resources will lead to mineral reserves that can be mined economically.
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
Office Telephone (416) 363-8653
1Non-audited estimation using actual exploration expenditures as of December 31st, 2020 (excluding exploration ramp expenditures), the amount of metres drilled by Osisko since 2015 and considering Quebec Tax Exploration Credit returns divided by global ounces. This is considered a non-GAAP number.
OSISKO MINING CLOSES $70 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF FLOW-THROUGH SHARES, INCLUDING FULL EXERCISE OF UNDERWRITERS’ OPTION
(Toronto, February 12, 2021) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation”) is pleased to announce the completion of its previously-announced “bought deal” brokered private placement of an aggregate of 13,085,000 “flow-through shares” of the Corporation (“Flow-Through Shares”), at an issue price of $5.35 per Flow-Through Share for aggregate gross proceeds of approximately $70 million, including the exercise in full of the underwriters’ option (the “Offering”).
The Offering was led by Canaccord Genuity Corp., on behalf of itself and a syndicate of underwriters that included Eight Capital, BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Beacon Securities Limited, Cormark Securities Inc., Haywood Securities Inc., Industrial Alliance Securities Inc. and RBC Dominion Securities Inc.
The gross proceeds from the sale of Flow-Through Shares will be used by the Corporation to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” (within the meaning of Income Tax Act (Canada)) related to the Corporation’s projects in Québec on or prior to December 31, 2022 for renunciation to subscribers of Flow-Through Shares effective December 31, 2021.
All securities issued under the Offering will be subject to a hold period expiring four months and one day from the date hereof. The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding the 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 applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the Toronto Stock Exchange; the tax treatment of the Flow-Through Shares; the timing of the tax renunciation to the subscribers; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
For further information please contact:
John Burzynski
Chief Executive Officer
Telephone: (416) 363-8653
OSISKO WINDFALL INFILL DRILLING: INSERT SUPERLATIVE HERE
New Intercepts Include 108 g/t Au Over 10.5 Metres
(Toronto, January 26, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling at Windfall continues with more good results with respect to grade and width, particularly in the Lynx zones. Both underground and surface drills continue to infill our resources and explore open down plunge areas.”
The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 63 intercepts in 38 drill holes and 7 wedges.
Selected high-grade intercepts from the new results include: 108 g/t Au over 10.5 metres in OSK-W-20-2256-W7;21.7 g/t Au over 11.3 metres in OSK-W-20-2271-W3; 76.7 g/t Au over 3.0 metres in OSK-W-20-2377; 30.9 g/t Au over 4.5 metres in OSK-W-20-2292-W4; 35.1 g/ t Au over 2.8 metres in OSK-W-20-2325; and 36.5 g/t Au over 2.1 metres in OSK-W-20-2283-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com
Hole Number | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-20-847-W3 | 628.8 | 631.0 | 2.2 | 4.32 | Caribou_2214 | Caribou | |
including | 629.5 | 630.0 | 0.5 | 12.9 | |||
OSK-W-20-852-W4 | 548.0 | 550.0 | 2.0 | 8.55 | Caribou_2524 | Caribou | |
OSK-W-20-2256-W7 | 881.0 | 891.5 | 10.5 | 108 | 30.7 | Lynx_361 | Triple Lynx |
including | 885.8 | 887.0 | 1.2 | 567 | 100 | ||
and | 887.5 | 888.6 | 1.1 | 302 | 100 | ||
OSK-W-20-2271-W3 | 1057.6 | 1068.9 | 11.3 | 21.7 | Lynx_330 | Lynx | |
including | 1061.8 | 1062.1 | 0.3 | 64.1 | |||
and | 1064.0 | 1064.3 | 0.3 | 92.8 | |||
OSK-W-20-2283-W3 | 870.0 | 872.0 | 2.0 | 11.2 | Triple Lynx | Triple Lynx | |
including | 871.1 | 871.5 | 0.4 | 41.8 | |||
984.6 | 987.0 | 2.4 | 4.47 | Triple Lynx | Triple Lynx | ||
including | 985.5 | 986.0 | 0.5 | 20.5 | |||
991.4 | 993.5 | 2.1 | 36.5 | Triple Lynx | Triple Lynx | ||
including | 992.0 | 992.8 | 0.8 | 95.7 | |||
OSK-W-20-2287 | 1158.9 | 1161.0 | 2.1 | 7.64 | Lynx_346 | Lynx | |
OSK-W-20-2292-W4 | 884.3 | 888.8 | 4.5 | 30.9 | 21.7 | Lynx_375 | Triple Lynx |
including | 887.3 | 888.0 | 0.7 | 159 | 100 | ||
OSK-W-20-2301 | 94.7 | 96.7 | 2.0 | 8.14 | F17_6003 | F-17 | |
including | 96.0 | 96.7 | 0.7 | 21.6 | |||
101.2 | 103.6 | 2.4 | 3.54 | F17_6003 | F-17 | ||
including | 101.2 | 101.7 | 0.5 | 16.9 | |||
OSK-W-20-2306 | 199.5 | 205.3 | 5.8 | 7.48 | Bobcat | Bobcat | |
including | 202.3 | 202.8 | 0.5 | 43.8 | |||
OSK-W-20-2313-W2 | 979.3 | 981.4 | 2.1 | 8.56 | Triple Lynx | Triple Lynx | |
including | 979.8 | 980.2 | 0.4 | 21.8 | |||
OSK-W-20-2319 | 210.0 | 212.0 | 2.0 | 4.83 | Bobcat | Bobcat | |
OSK-W-20-2325 | 128.0 | 130.8 | 2.8 | 35.1 | 25.6 | Mallard_5200 | Mallard |
including | 130.1 | 130.8 | 0.7 | 138 | 100 | ||
143.6 | 145.8 | 2.2 | 13.1 | Mallard_5213 | Mallard | ||
OSK-W-20-2326 | 82.0 | 86.0 | 4.0 | 9.47 | Mallard_5213 | Mallard | |
including | 82.0 | 83.0 | 1.0 | 29.5 | |||
OSK-W-20-2327 | 94.0 | 96.7 | 2.7 | 14.1 | Mallard_5213 | Mallard | |
including | 96.0 | 96.7 | 0.7 | 33.7 | |||
OSK-W-20-2328 | 177.0 | 182.5 | 5.5 | 6.50 | Caribou_2527 | Caribou | |
OSK-W-20-2330 | 137.7 | 140.0 | 2.3 | 9.57 | Mallard_5213 | Mallard | |
including | 138.8 | 139.4 | 0.6 | 35.1 | |||
OSK-W-20-2332 | 191.7 | 194.7 | 3.0 | 6.03 | Mallard_5213 | Mallard | |
OSK-W-20-2346 | 892.0 | 894.2 | 2.2 | 12.2 | Lynx_330 | Lynx | |
including | 893.5 | 893.8 | 0.3 | 78.5 | |||
OSK-W-20-2354 | 653.3 | 655.9 | 2.6 | 5.39 | Caribou_2233 | Caribou | |
including | 654.1 | 654.5 | 0.4 | 19.7 | |||
OSK-W-20-2362 | 137.0 | 139.0 | 2.0 | 4.19 | Bobcat | Bobcat | |
OSK-W-20-2377 | 105.0 | 108.0 | 3.0 | 76.7 | 22.7 | F17_6003 | F-17 |
including | 106.0 | 106.4 | 0.4 | 505 | 100 | ||
OSK-W-20-2384 | 644.5 | 646.9 | 2.4 | 26.2 | Lynx_341 | Lynx | |
including | 645.3 | 645.9 | 0.6 | 96.5 | |||
OSK-W-20-2389 | 589.0 | 591.0 | 2.0 | 5.72 | Caribou | Caribou | |
WST-20-0011 | 278.8 | 280.8 | 2.0 | 15.5 | Lynx SW | Lynx SW | |
WST-20-0346 | 29.0 | 31.0 | 2.0 | 4.57 | Mallard_5212 | Mallard | |
WST-20-0347 | 270.0 | 272.9 | 2.9 | 3.31 | Caribou_2572 | Caribou | |
including | 272.1 | 272.9 | 0.8 | 11.4 | |||
WST-20-0348 | 237.6 | 239.7 | 2.1 | 7.49 | Caribou_2573 | Caribou | |
271.5 | 273.5 | 2.0 | 4.68 | Caribou_2572 | Caribou | ||
including | 272.5 | 272.9 | 0.4 | 22.6 | |||
WST-20-0349 | 293.2 | 296.0 | 2.8 | 3.64 | Caribou_2572 | Caribou | |
including | 294.0 | 295.0 | 1.0 | 9.56 | |||
WST-20-0476 | 154.9 | 157.1 | 2.2 | 4.85 | Caribou_2551 | Caribou | |
including | 154.9 | 155.6 | 0.7 | 11.9 | |||
172.9 | 175.5 | 2.6 | 3.33 | Caribou_2551 | Caribou | ||
WST-20-0477 | 151.5 | 154.0 | 2.5 | 5.90 | Caribou_2551 | Caribou | |
WST-20-0480B | 60.0 | 62.0 | 2.0 | 12.3 | Mallard_5211 | Mallard | |
WST-20-0518 | 168.0 | 170.0 | 2.0 | 4.53 | Z27_1102 | Zone 27 | |
WST-20-0520 | 63.5 | 66.0 | 2.5 | 5.53 | Mallard_5211 | Mallard | |
81.5 | 84.0 | 2.5 | 12.3 | Mallard_5211 | Mallard | ||
including | 82.4 | 82.7 | 0.3 | 94.8 | |||
157.0 | 159.3 | 2.3 | 4.53 | Z27_1102 | Zone 27 | ||
352.4 | 354.4 | 2.0 | 11.8 | Caribou_2253 | Caribou | ||
including | 352.8 | 353.9 | 1.1 | 21.2 | |||
WST-20-0533 | 96.0 | 98.1 | 2.1 | 7.13 | Lynx_304 | Lynx | |
including | 97.2 | 98.1 | 0.9 | 16.6 | |||
WST-20-0534 | 69.0 | 71.0 | 2.0 | 21.4 | Lynx_323 | Lynx | |
including | 70.2 | 71.0 | 0.8 | 53.5 | |||
WST-20-0535 | 46.9 | 49.1 | 2.2 | 5.83 | Lynx_303 | Lynx | |
including | 46.9 | 47.5 | 0.6 | 18.1 | |||
WST-20-0536 | 83.0 | 85.0 | 2.0 | 17.9 | Lynx | Lynx | |
including | 83.4 | 83.8 | 0.4 | 84.1 | |||
WST-20-0549 | 11.0 | 13.0 | 2.0 | 12.3 | Mallard_5211 | Mallard | |
263.0 | 265.0 | 2.0 | 5.39 | Caribou_2518 | Caribou | ||
269.5 | 271.5 | 2.0 | 3.94 | Caribou_2518 | Caribou | ||
306.0 | 308.0 | 2.0 | 3.26 | Caribou_2521 | Caribou | ||
including | 307.2 | 308.0 | 0.8 | 7.40 | |||
373.9 | 377.0 | 3.1 | 4.60 | Caribou_2542 | Caribou | ||
WST-20-0565 | 11.0 | 13.2 | 2.2 | 11.6 | Mallard_5211 | Mallard | |
including | 11.6 | 12.4 | 0.8 | 24.0 | |||
WST-20-0566A | 306.4 | 311.7 | 5.3 | 9.25 | Caribou_2521 | Caribou | |
including | 307.3 | 308.3 | 1.0 | 36.2 | |||
WST-20-0568 | 295.9 | 298.0 | 2.1 | 7.62 | Lynx SW | Lynx SW | |
including | 296.6 | 297.4 | 0.8 | 15.7 | |||
317.0 | 319.0 | 2.0 | 3.94 | Lynx SW | Lynx SW | ||
including | 317.7 | 318.1 | 0.4 | 19.5 | |||
WST-20-0582 | 103.1 | 106.0 | 2.9 | 7.01 | Lynx_339 | Lynx | |
129.5 | 131.5 | 2.0 | 9.97 | Lynx_311 | Lynx | ||
including | 130.0 | 131.0 | 1.0 | 19.9 | |||
WST-20-0586 | 99.5 | 101.5 | 2.0 | 6.81 | Lynx_311 | Lynx | |
141.0 | 143.1 | 2.1 | 20.0 | Lynx | Lynx | ||
including | 142.2 | 142.7 | 0.5 | 79.3 | |||
160.0 | 162.5 | 2.5 | 14.4 | Lynx_359 | Lynx | ||
including | 161.3 | 161.8 | 0.5 | 54.1 | |||
WST-20-0587 | 165.0 | 167.2 | 2.2 | 3.33 | Lynx_304 | Lynx | |
including | 166.6 | 167.2 | 0.6 | 10.9 | |||
WST-20-0589 | 63.5 | 65.6 | 2.1 | 8.09 | Mallard_5211 | Mallard | |
330.4 | 332.4 | 2.0 | 6.21 | Caribou_2253 | Caribou |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-847-W3 | 334 | -69 | 649 | 452645 | 5434429 | 403 | 2625 |
OSK-W-20-852-W4 | 330 | -55 | 873 | 452874 | 5434552 | 398 | 2875 |
OSK-W-20-2256-W7 | 125 | -51 | 1005 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2271-W3 | 120 | -53 | 1235 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2283-W3 | 135 | -50 | 1004 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2287 | 116 | -53 | 1406 | 453607 | 5435714 | 404 | 4075 |
OSK-W-20-2292-W4 | 125 | -54 | 984 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2301 | 149 | -49 | 140 | 452696 | 5435534 | 410 | 3200 |
OSK-W-20-2306 | 152 | -55 | 531 | 452872 | 5435155 | 409 | 3175 |
OSK-W-20-2313-W2 | 134 | -52 | 1047 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2319 | 141 | -50 | 768 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2325 | 331 | -53 | 171 | 451946 | 5434809 | 406 | 2200 |
OSK-W-20-2326 | 335 | -50 | 156 | 451920 | 5434828 | 403 | 2175 |
OSK-W-20-2327 | 334 | -49 | 132 | 451899 | 5434812 | 401 | 2150 |
OSK-W-20-2328 | 136 | -56 | 942 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2330 | 333 | -48 | 156 | 451912 | 5434792 | 402 | 2150 |
OSK-W-20-2332 | 335 | -49 | 222 | 452019 | 5434790 | 406 | 2250 |
OSK-W-20-2346 | 130 | -53 | 1161 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2354 | 336 | -60 | 759 | 452739 | 5434474 | 401 | 2725 |
OSK-W-20-2362 | 350 | -45 | 256 | 452719 | 5434777 | 398 | 2850 |
OSK-W-20-2377 | 132 | -49 | 1326 | 452702 | 5435548 | 409 | 3225 |
OSK-W-20-2384 | 127 | -52 | 1164 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2389 | 328 | -57 | 701 | 452689 | 5434635 | 398 | 2750 |
WST-20-0011 | 157 | -54 | 451 | 453105 | 5435065 | 231 | 3325 |
WST-20-0346 | 136 | -18 | 391 | 452282 | 5434975 | 264 | 2575 |
WST-20-0347 | 134 | -14 | 369 | 452282 | 5434975 | 264 | 2575 |
WST-20-0348 | 127 | -14 | 311 | 452282 | 5434976 | 264 | 2575 |
WST-20-0349 | 140 | -19 | 378 | 452282 | 5434975 | 263 | 2575 |
WST-20-0476 | 132 | -33 | 403 | 452282 | 5434975 | 263 | 2575 |
WST-20-0477 | 131 | -30 | 394 | 452282 | 5434976 | 263 | 2575 |
WST-20-0480B | 142 | -52 | 382 | 452281 | 5434975 | 262 | 2575 |
WST-20-0518 | 135 | -53 | 441 | 452282 | 5434975 | 263 | 2575 |
WST-20-0520 | 133 | -46 | 388 | 452281 | 5434975 | 263 | 2575 |
WST-20-0533 | 143 | -26 | 133 | 453315 | 5435165 | 124 | 3575 |
WST-20-0534 | 143 | -32 | 135 | 453315 | 5435165 | 124 | 3575 |
WST-20-0535 | 143 | -37 | 138 | 453315 | 5435165 | 124 | 3575 |
WST-20-0536 | 132 | -27 | 135 | 453316 | 5435166 | 124 | 3575 |
WST-20-0549 | 141 | -13 | 396 | 452208 | 5434898 | 249 | 2475 |
WST-20-0565 | 134 | -12 | 354 | 452208 | 5434898 | 249 | 2475 |
WST-20-0566A | 133 | -16 | 368 | 452208 | 5434898 | 248 | 2475 |
WST-20-0568 | 158 | -58 | 493 | 453104 | 5435065 | 231 | 3325 |
WST-20-0582 | 176 | -56 | 144 | 453177 | 5435125 | 173 | 3425 |
WST-20-0586 | 167 | -13 | 193 | 453418 | 5435305 | 69 | 3725 |
WST-20-0587 | 145 | -43 | 205 | 453418 | 5435305 | 69 | 3725 |
WST-20-0589 | 147 | -55 | 376 | 452281 | 5434975 | 263 | 2575 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Triple Lynx
Mineralization occurs as quartz-carbonate-pyrite-tourmaline vein-type associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone: pyrite dominated with minor other sulphides ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.
Zone 27
Mineralization is typically characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, and local quartz-carbonate veins. Local visible gold is observed as small specks or clusters with quartz veins. Alteration consists of moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite. Mineralization is hosted in strongly altered andesites or in or at the contact of the rhyolite.
Caribou Zone
Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.
F-Zone
Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.
Mallard
Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.
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. Local visible gold is associated with carbonate ± silica ± chlorite alteration. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True width determination is estimated at 55-80% of the reported core length interval for the zone. Assays are uncut except where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, QualityAssurance/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 Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% 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; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; 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 drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO WINDFALL INFILL DRILLING
New Intercepts Include 90.5 g/t Au Over 9.7 Metres in Triple Lynx
(Toronto, January 18, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Broken record alert, infill drilling continues to show both the continuity and high-grade nature of Lynx, consistently returning good results on grade and widths as demonstrated by today’s headline hole. We are advancing our work on the deposit at full speed, with over 35 drills active on surface and underground.”
The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 46 intercepts in 17 drill holes and 14 wedges.
Selected high-grade intercepts from the new results include: 90.5 g/t Au over 9.7 meters in OSK-W-20-2252-W7; 59.5 g/t Au over 2.0 metres in OSK-W-20-2292-W5; 38.4 g/t Au over 5.5 meters in OSK-W-20-2252-W8; 37.1 g/t Au over 2.0 metres in WST-20-0542A; 32.2 g/t Au over 3.7 metres in OSK-W-20-2243-W6. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-20-2139-W12 | 913.0 | 915.0 | 2.0 | 3.96 | Lynx_361 | Triple Lynx | |
OSK-W-20-2243-W6 | 925.2 | 928.9 | 3.7 | 32.2 | Triple Lynx | Triple Lynx | |
including | 927.2 | 928.2 | 1.0 | 55.2 | |||
OSK-W-20-2252-W7 | 861.3 | 866.6 | 5.3 | 4.54 | Triple Lynx | Triple Lynx | |
including | 866.3 | 866.6 | 0.3 | 16.6 | |||
871.0 | 876.0 | 5.0 | 5.45 | Triple Lynx | Triple Lynx | ||
900.0 | 909.7 | 9.7 | 90.5 | 32.3 | Lynx_371 | Triple Lynx | |
including | 904.7 | 905.2 | 0.5 | 324 | 100 | ||
and | 905.6 | 906.2 | 0.6 | 725 | 100 | ||
911.2 | 913.3 | 2.1 | 7.79 | Lynx_361 | Triple Lynx | ||
including | 912.1 | 912.4 | 0.3 | 33.7 | |||
961.9 | 964.0 | 2.1 | 13.7 | Lynx_363 | Triple Lynx | ||
including | 962.8 | 963.1 | 0.3 | 75.9 | |||
987.0 | 989.3 | 2.3 | 3.76 | Lynx_364 | Triple Lynx | ||
OSK-W-20-2252-W8 | 877.0 | 879.0 | 2.0 | 4.30 | Lynx_371 | Triple Lynx | |
921.8 | 924.1 | 2.3 | 23.7 | Lynx_361 | Triple Lynx | ||
including | 922.8 | 923.4 | 0.6 | 62.1 | |||
967.0 | 972.5 | 5.5 | 38.4 | Lynx_363 | Triple Lynx | ||
including | 969.6 | 970.6 | 1.0 | 91.7 | |||
and | 970.6 | 971.6 | 1.0 | 69.5 | |||
OSK-W-20-2271-W2 | 1038.0 | 1040.0 | 2.0 | 3.79 | Lynx_330 | Lynx | |
OSK-W-20-2275 | 756.0 | 758.0 | 2.0 | 4.76 | Triple Lynx | Triple Lynx | |
OSK-W-20-2275-W3 | 864.7 | 867.2 | 2.5 | 3.68 | Triple Lynx | Triple Lynx | |
OSK-W-20-2275-W4 | 933.9 | 936.2 | 2.3 | 3.62 | Triple Lynx | Triple Lynx | |
OSK-W-20-2280-W3 | 1039.0 | 1041.0 | 2.0 | 4.33 | Lynx_363 | Triple Lynx | |
including | 1039.6 | 1039.9 | 0.3 | 26.3 | |||
1045.0 | 1047.0 | 2.0 | 4.58 | Lynx_363 | Triple Lynx | ||
including | 1046.2 | 1046.5 | 0.3 | 28.8 | |||
OSK-W-20-2280-W4 | 1124.0 | 1129.0 | 5.0 | 7.04 | Lynx_370 | Triple Lynx | |
including | 1125.3 | 1125.8 | 0.5 | 30.0 | |||
OSK-W-20-2280-W5 | 888.7 | 890.7 | 2.0 | 19.2 | Triple Lynx | Triple Lynx | |
including | 890.1 | 890.7 | 0.6 | 62.3 | |||
OSK-W-20-2283-W1 | 826.0 | 828.0 | 2.0 | 3.91 | Triple Lynx | Triple Lynx | |
OSK-W-20-2283-W6 | 844.8 | 847.0 | 2.2 | 3.62 | Triple Lynx | Triple Lynx | |
including | 844.8 | 845.3 | 0.5 | 13.0 | |||
OSK-W-20-2292-W5 | 1039.0 | 1041.0 | 2.0 | 59.5 | 20.3 | Triple Lynx | Triple Lynx |
including | 1039.4 | 1039.8 | 0.4 | 296 | 100 | ||
OSK-W-20-2292-W6 | 884.4 | 886.5 | 2.1 | 8.95 | Triple Lynx | Triple Lynx | |
OSK-W-20-2345 | 144.2 | 150.0 | 5.8 | 4.23 | Lynx_355 | Lynx | |
OSK-W-20-2350 | 112.5 | 115.0 | 2.5 | 22.9 | 20.6 | Lynx_335 | Lynx |
including | 113.5 | 113.9 | 0.4 | 115 | 100 | ||
137.0 | 139.0 | 2.0 | 16.3 | 15.8 | Lynx_355 | Lynx | |
including | 137.5 | 137.8 | 0.3 | 103 | 100 | ||
OSK-W-20-2363 | 686.0 | 688.0 | 2.0 | 3.82 | Lynx_365 | Triple Lynx | |
WST-20-0011 | 295.4 | 297.6 | 2.2 | 3.66 | Lynx SW | Lynx | |
including | 296.4 | 297.0 | 0.6 | 11.4 | |||
WST-20-0490 | 114.0 | 116.1 | 2.1 | 28.1 | 27.7 | Lynx_339 | Lynx |
including | 115.4 | 115.8 | 0.4 | 102 | 100 | ||
294.3 | 296.4 | 2.1 | 5.57 | Triple Lynx | Triple Lynx | ||
including | 295.7 | 296.1 | 0.4 | 21.7 | |||
WST-20-0498 | 142.0 | 144.0 | 2.0 | 3.38 | Lynx | Lynx | |
WST-20-0503 | 54.0 | 56.0 | 2.0 | 3.76 | Lynx_311 | Lynx | |
WST-20-0505A | 280.0 | 282.0 | 2.0 | 3.19 | Lynx SW | Lynx SW | |
WST-20-0516 | 168.0 | 170.0 | 2.0 | 23.8 | Lynx_359 | Lynx | |
including | 168.5 | 169.3 | 0.8 | 43.0 | |||
WST-20-0525 | 159.7 | 161.8 | 2.1 | 10.8 | Lynx_359 | Lynx | |
including | 160.3 | 160.6 | 0.3 | 52.7 | |||
WST-20-0536 | 91.0 | 93.0 | 2.0 | 14.2 | Lynx_304 | Lynx | |
including | 91.7 | 92.1 | 0.4 | 66.9 | |||
98.0 | 100.0 | 2.0 | 13.5 | Lynx_304 | Lynx | ||
including | 98.6 | 98.9 | 0.3 | 83.8 | |||
111.0 | 113.0 | 2.0 | 8.90 | Lynx_359 | Lynx | ||
including | 111.8 | 112.6 | 0.8 | 22.2 | |||
117.0 | 119.0 | 2.0 | 3.26 | Lynx_359 | Lynx | ||
WST-20-0537 | 99.8 | 101.9 | 2.1 | 5.28 | Lynx_304 | Lynx | |
WST-20-0542A | 46.9 | 49.1 | 2.2 | 30.3 | Lynx_303 | Lynx | |
including | 46.9 | 47.6 | 0.7 | 94.0 | |||
64.3 | 66.3 | 2.0 | 37.1 | Lynx_323 | Lynx | ||
including | 65.2 | 66.3 | 1.1 | 63.3 | |||
WST-20-0545 | 95.7 | 98.0 | 2.3 | 18.1 | Lynx_304 | Lynx | |
124.0 | 127.1 | 3.1 | 10.6 | Lynx_359 | Lynx | ||
including | 126.6 | 127.1 | 0.5 | 46.2 | |||
WST-20-0569 | 243.0 | 245.0 | 2.0 | 13.7 | Lynx SW | Lynx SW | |
including | 243.8 | 244.2 | 0.4 | 67.3 | |||
WST-20-0571 | 413.0 | 415.0 | 2.0 | 6.65 | Lynx SW | Lynx SW | |
including | 413.0 | 414.0 | 1.0 | 13.3 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.
SW= Southwest
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-2139-W12 | 115 | -52 | 1038 | 452980 | 5435549 | 420 | 3450 |
OSK-W-20-2243-W6 | 122 | -54 | 965 | 453086 | 5435526 | 417 | 3550 |
OSK-W-20-2252-W7 | 129 | -54 | 1191 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2252-W8 | 129 | -54 | 1239 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2271-W2 | 120 | -53 | 1223 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2275 | 127 | -49 | 1094 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2275-W3 | 127 | -49 | 1050 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2275-W4 | 127 | -49 | 1052 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2280-W3 | 127 | -58 | 1191 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W4 | 127 | -58 | 1215 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W5 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W1 | 135 | -50 | 1035 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W6 | 135 | -50 | 957 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2292-W5 | 125 | -54 | 1134 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2292-W6 | 125 | -54 | 1110 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2345 | 336 | -62 | 162 | 452828 | 5434780 | 397 | 2950 |
OSK-W-20-2350 | 324 | -62 | 177 | 452854 | 5434793 | 397 | 2975 |
OSK-W-20-2363 | 139 | -52 | 1031 | 452930 | 5435548 | 419 | 3425 |
WST-20-0011 | 157 | -54 | 451 | 453105 | 5435065 | 231 | 3325 |
WST-20-0490 | 160 | -31 | 430 | 453256 | 5435209 | 97 | 3525 |
WST-20-0498 | 132 | -11 | 169 | 453228 | 5435126 | 136 | 3475 |
WST-20-0503 | 148 | 6 | 99 | 453105 | 5435065 | 232 | 3325 |
WST-20-0505A | 183 | -45 | 331 | 453227 | 5435125 | 134 | 3475 |
WST-20-0516 | 168 | -33 | 195 | 453418 | 5435305 | 69 | 3725 |
WST-20-0525 | 165 | -20 | 187 | 453418 | 5435305 | 69 | 3725 |
WST-20-0536 | 132 | -27 | 135 | 453316 | 5435166 | 124 | 3575 |
WST-20-0537 | 132 | -32 | 139 | 453316 | 5435166 | 124 | 3575 |
WST-20-0542A | 156 | -30 | 138 | 453315 | 5435165 | 124 | 3550 |
WST-20-0545 | 112 | -24 | 148 | 453316 | 5435166 | 124 | 3575 |
WST-20-0569 | 165 | -59 | 526 | 453104 | 5435065 | 231 | 3325 |
WST-20-0571 | 167 | -55 | 465 | 453104 | 5435065 | 231 | 3325 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Triple Lynx
Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, QualityAssurance/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 Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% 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; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; 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 drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO MINING ANNOUNCES C$60 MILLION “BOUGHT DEAL” PRIVATE PLACEMENT OF FLOW-THROUGH SHARES
(Toronto, January 15, 2021) – Osisko Mining Inc. (TSX:OSK) (“Osisko” or the “Corporation“) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. on behalf of a syndicate of underwriters (collectively, the “Underwriters“) in connection with a “bought deal” private placement financing (the “Offering“) of an aggregate of 11,215,000 common shares of the Corporation that will qualify as “flow-through shares” (within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act(Québec)) (the “Flow-Through Shares“).
The Flow-Through Shares will be issued at a price of C$5.35 (the “Issue Price“) for aggregate gross proceeds of C$60,000,250. In addition, the Corporation will grant the Underwriters an option (the “Underwriter’s Option”) to sell an additional 1,870,000 Flow-Through Shares, at the Issue Price for additional gross proceeds of C$10,004,500,exercisable 48 hours prior to closing.
The gross proceeds from the issue and sale of the Flow-Through Shares will be used by the Corporation to incur eligible “Canadian exploration expenses” that will qualify as “flow-through mining expenditures” as such terms are defined in the Income Tax Act (Canada) (the “Qualifying Expenditures“) related to the Corporation’s projects in Québec on or before December 31, 2022. All Qualifying Expenditures will be renounced in favour of the subscribers of the Flow-Through Shares effective December 31, 2021.
The Offering is expected to close on or about February 12, 2021 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Toronto Stock Exchange and the applicable securities regulatory authorities. The Flow-Through Shares to be issued under the Offering will be subject to a hold period in Canada expiring four months and one day from the closing date of the Offering.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
About Osisko Mining Inc.
The Windfall gold deposit is located between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19, 2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
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 and projections as at the date of this news release. The information in this news release about the Offering; the use of the proceeds from the Offering; the jurisdictions in which the Flow-Through Shares will be offered or sold; the number of Flow-Through Shares offered or sold; the size of the Offering; the timing and ability of the Corporation to close the Offering, if at all; the timing and ability of the Corporation to satisfy the customary listing conditions of the Toronto Stock Exchange, if at all; the timing and ability of the Corporation to obtain all necessary approvals; the tax treatment of the securities issued under the Offering under the Income Tax Act (Canada) and Taxation Act (Québec); the timing to renounce all Qualifying Expenditures in favour of the subscribers, if at all; and any other information herein that is not a historical fact may be “forward-looking information”. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “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 forward-looking information is based on reasonable assumptions and estimates of management of Osisko, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Osisko to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the Offering; volatility in the trading price of common shares of the Corporation; risks relating to the ability of the Corporation to obtain required approvals, complete definitive documentation and complete the Offering; the ability of Osisko to complete further exploration activities, including drilling; property interests; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; changes in the tax and regulatory regime; 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 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.
For further information please contact:
John Burzynski
Chief Executive Officer
Telephone: (416) 363-8653
OSISKO WINDFALL DRILLING STEPS OUT INTO MORE … GOLD
New Intercepts Include 344 g/t Au Over 2.2 Metres in Triple Lynx
(Toronto, January 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.
Drilling is currently focused on the Lynx deposit. Osisko Chief Executive Officer John Burzynski commented: “Today’s new intersections are all from outside the published 2020 resource area and highlight the strong upside growth potential of our deposit. Step-out drilling remains focused on the open down plunge areas of known mineralized corridors in the Lynx area as well as some other high potential areas.”
The table below shows intercepts located outside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). These intercepts either expand the resource wireframes or are located in a defined zone/corridor but not yet correlated to a specific wireframe. Significant new analytical results are presented below and include 80 intercepts in 27 drill holes and 22 wedges.
Selected high-grade intercepts from the new results include: 344 g/t Au over 2.2 metres in OSK-W-20-2313-W2; 114 g/t Au over 2.6 metres in OSK-W-20-2280-W5; 90.2 g/t Au over 2.0 metres in WST-20-0380; 74.2 g/t Au over 2.2 metres in OSK-W-19-1949-W3; and 26.7 g/t Au over 7.0 metres in WST-20-0078. Maps showing hole locations and full analytical results are available at www.osiskomining.com
Expansion Drilling
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-19-1949-W3 | 737.4 | 739.6 | 2.2 | 74.2 | 47 | Lynx | Lynx |
including | 737.4 | 737.8 | 0.4 | 133 | 100 | ||
and | 737.8 | 738.3 | 0.5 | 194 | 100 | ||
OSK-W-20-2133-W4 | 946.6 | 951.7 | 5.1 | 3.47 | Lynx_331 | Lynx | |
956.7 | 960.1 | 3.4 | 23.2 | Lynx_331 | Lynx | ||
including | 957.7 | 958.7 | 1.0 | 60.6 | |||
OSK-W-20-2139-W12 | 873.4 | 875.4 | 2.0 | 10.2 | Triple Lynx | Triple Lynx | |
998.0 | 1000.0 | 2.0 | 5.67 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2170-W6 | 1367.8 | 1370.0 | 2.2 | 6.61 | Lynx 4 | Lynx | |
1379.0 | 1381.0 | 2.0 | 14.5 | Lynx 4 | Lynx | ||
OSK-W-19-2182 | 97.0 | 99.0 | 2.0 | 9.65 | Lynx | Lynx | |
OSK-W-20-2251 | 1836.0 | 1838.0 | 2.0 | 21.0 | 20.3 | Triple Lynx | Triple Lynx |
including | 1836.9 | 1837.3 | 0.4 | 104 | 100 | ||
1908.6 | 1910.6 | 2.0 | 5.24 | Triple Lynx | Triple Lynx | ||
including | 1908.6 | 1909.2 | 0.6 | 15.9 | |||
OSK-W-20-2251-W1 | 2112.0 | 2114.0 | 2.0 | 8.45 | Lynx 4 | Lynx | |
OSK-W-20-2252-W4 | 1059.0 | 1061.0 | 2.0 | 12.5 | Triple Lynx | Triple Lynx | |
1100.2 | 1104.9 | 4.7 | 6.74 | Triple Lynx | Triple Lynx | ||
including | 1100.2 | 1100.6 | 0.4 | 22.7 | |||
and | 1104.3 | 1104.9 | 0.6 | 33.2 | |||
1109.4 | 1113.6 | 4.2 | 19.2 | Triple Lynx | Triple Lynx | ||
including | 1111.0 | 1111.7 | 0.7 | 40.6 | |||
OSK-W-20-2252-W5 | 1017.7 | 1020.0 | 2.3 | 8.54 | Triple Lynx | Triple Lynx | |
including | 1018.5 | 1019.0 | 0.5 | 35.3 | |||
OSK-W-20-2256-W6 | 1051.0 | 1054.0 | 3.0 | 12.0 | Triple Lynx | Triple Lynx | |
including | 1052.1 | 1053.0 | 0.9 | 37.7 | |||
OSK-W-20-2264 | 814.8 | 821.8 | 7.0 | 11.7 | Lynx 4 | Lynx | |
including | 816.3 | 816.8 | 0.5 | 31.4 | |||
and | 818.8 | 819.6 | 0.8 | 57.5 | |||
863.3 | 865.3 | 2.0 | 6.29 | Lynx 4 | Lynx | ||
OSK-W-20-2271-W1 | 752.1 | 754.2 | 2.1 | 5.05 | Lynx | Lynx | |
784.3 | 786.5 | 2.2 | 4.38 | Lynx | Lynx | ||
840.1 | 842.2 | 2.1 | 4.57 | Lynx | Lynx | ||
including | 841.9 | 842.2 | 0.3 | 19.7 | |||
1032.0 | 1034.0 | 2.0 | 26.3 | Lynx 4 | Lynx | ||
including | 1033.0 | 1033.5 | 0.5 | 97.5 | |||
1049.0 | 1051.0 | 2.0 | 7.98 | Lynx | Lynx | ||
OSK-W-20-2271-W2 | 814.0 | 816.9 | 2.9 | 6.00 | Lynx | Lynx | |
OSK-W-20-2280-W2 | 1059.8 | 1062.0 | 2.2 | 30.7 | Triple Lynx | Triple Lynx | |
including | 1060.8 | 1062.0 | 1.2 | 53.2 | |||
OSK-W-20-2280-W5 | 976.8 | 979.4 | 2.6 | 114 | 29.3 | Lynx_368 | Triple Lynx |
including | 976.8 | 977.5 | 0.7 | 416 | 100 | ||
1070.0 | 1074.0 | 4.0 | 22.0 | Triple Lynx | Triple Lynx | ||
including | 1072.3 | 1073.2 | 0.9 | 52.3 | |||
OSK-W-20-2283-W2 | 945.0 | 947.0 | 2.0 | 15.7 | Triple Lynx | Triple Lynx | |
including | 946.0 | 947.0 | 1.0 | 31.1 | |||
OSK-W-20-2292-W1 | 559.2 | 561.5 | 2.3 | 11.6 | Triple Lynx | Triple Lynx | |
1014.6 | 1016.6 | 2.0 | 5.46 | Triple Lynx | Triple Lynx | ||
1115.0 | 1117.0 | 2.0 | 4.39 | Triple Lynx | Triple Lynx | ||
1122.6 | 1125.0 | 2.4 | 12.6 | Triple Lynx | Triple Lynx | ||
including | 1123.8 | 1124.5 | 0.7 | 28.1 | |||
OSK-W-20-2292-W2 | 560.0 | 562.0 | 2.0 | 6.43 | Triple Lynx | Triple Lynx | |
including | 560.0 | 560.5 | 0.5 | 21.2 | |||
OSK-W-20-2295-W1 | 477.6 | 479.7 | 2.1 | 20.4 | Lynx_365 | Triple Lynx | |
including | 477.9 | 478.5 | 0.6 | 69.8 | |||
805.0 | 807.0 | 2.0 | 17.5 | Triple Lynx | Triple Lynx | ||
including | 805.5 | 806.4 | 0.9 | 36.3 | |||
OSK-W-20-2295-W2 | 477.0 | 479.1 | 2.1 | 3.60 | Lynx_365 | Triple Lynx | |
826.2 | 828.2 | 2.0 | 13.0 | Triple Lynx | Triple Lynx | ||
including | 827.6 | 828.2 | 0.6 | 38.3 | |||
OSK-W-20-2295-W3 | 689.0 | 691.0 | 2.0 | 7.23 | Triple Lynx | Triple Lynx | |
including | 689.5 | 690.0 | 0.5 | 27.4 | |||
OSK-W-20-2295-W4 | 757.0 | 759.3 | 2.3 | 4.08 | Triple Lynx | Triple Lynx | |
including | 757.0 | 757.5 | 0.5 | 10.1 | |||
1026.0 | 1028.1 | 2.1 | 16.3 | Triple Lynx | Triple Lynx | ||
including | 1027.6 | 1028.1 | 0.5 | 65.5 | |||
OSK-W-20-2313 | 864.0 | 870.0 | 6.0 | 5.58 | Triple Lynx | Triple Lynx | |
including | 864.0 | 864.6 | 0.6 | 23.8 | |||
1035.4 | 1037.6 | 2.2 | 13.0 | Triple Lynx | Triple Lynx | ||
including | 1036.4 | 1037.0 | 0.6 | 47.4 | |||
OSK-W-20-2313-W2 | 645.8 | 648.0 | 2.2 | 344 | 13.7 | Triple Lynx | Triple Lynx |
including | 647.1 | 647.4 | 0.3 | 2520 | 100 | ||
OSK-W-20-2313-W3 | 849.7 | 852.0 | 2.3 | 12.9 | Triple Lynx | Triple Lynx | |
including | 850.2 | 850.5 | 0.3 | 98.8 | |||
OSK-W-20-2313-W6 | 730.0 | 732.0 | 2.0 | 4.13 | Triple Lynx | Triple Lynx | |
OSK-W-20-2317 | 621.0 | 623.0 | 2.0 | 7.24 | Triple Lynx | Triple Lynx | |
662.0 | 664.2 | 2.2 | 3.81 | Triple Lynx | Triple Lynx | ||
including | 663.7 | 664.2 | 0.5 | 13.1 | |||
741.0 | 743.4 | 2.4 | 5.05 | Triple Lynx | Triple Lynx | ||
including | 741.8 | 742.4 | 0.6 | 19.8 | |||
OSK-W-20-2319 | 514.0 | 516.7 | 2.7 | 19.1 | Lynx | Lynx | |
including | 514.0 | 514.4 | 0.4 | 88.7 | |||
589.4 | 591.9 | 2.5 | 21.9 | 20.7 | Lynx | Lynx | |
including | 591.4 | 591.9 | 0.5 | 106 | 100 | ||
OSK-W-20-2328 | 525.0 | 527.0 | 2.0 | 6.68 | Lynx SW | Lynx SW | |
including | 525.0 | 526.0 | 1.0 | 13.1 | |||
669.0 | 671.7 | 2.7 | 6.43 | Lynx SW | Lynx SW | ||
including | 670.4 | 670.7 | 0.3 | 45.8 | |||
859.5 | 861.5 | 2.0 | 9.69 | Lynx 4 | Lynx | ||
including | 860.4 | 861.0 | 0.6 | 31.1 | |||
OSK-W-20-2334 | 728.0 | 730.3 | 2.3 | 7.87 | Lynx | Lynx | |
OSK-W-20-2339 | 933.0 | 935.0 | 2.0 | 5.27 | Triple Lynx | Triple Lynx | |
944.0 | 946.0 | 2.0 | 5.05 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2351 | 699.0 | 701.0 | 2.0 | 9.84 | Lynx_376 | Triple Lynx | |
including | 699.7 | 700.2 | 0.5 | 37.6 | |||
OSK-W-20-2353 | 978.8 | 981.0 | 2.2 | 3.80 | Triple Lynx | Triple Lynx | |
including | 978.8 | 979.3 | 0.5 | 11.6 | |||
1295.2 | 1297.3 | 2.1 | 4.49 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2370 | 109.1 | 111.6 | 2.5 | 3.80 | Lynx SW | Lynx SW | |
WST-20-0012D | 305.6 | 308.0 | 2.4 | 4.47 | Lynx SW | Lynx SW | |
317.0 | 319.0 | 2.0 | 18.0 | Lynx SW | Lynx SW | ||
including | 317.6 | 318.3 | 0.7 | 48.7 | |||
394.5 | 396.5 | 2.0 | 6.59 | Lynx SW | Lynx SW | ||
including | 395.3 | 395.9 | 0.6 | 21.4 | |||
WST-20-0078 | 263.4 | 270.4 | 7.0 | 26.7 | Triple Lynx | Triple Lynx | |
310.6 | 312.9 | 2.3 | 4.83 | Triple Lynx | Triple Lynx | ||
417.0 | 419.1 | 2.1 | 3.46 | Lynx SW | Lynx SW | ||
WST-20-0330 | 383.8 | 386.1 | 2.3 | 5.00 | Lynx SW | Lynx SW | |
including | 385.2 | 385.6 | 0.4 | 28.6 | |||
WST-20-0380 | 14.0 | 16.0 | 2.0 | 90.2 | 50.2 | Lynx | Lynx |
including | 15.0 | 16.0 | 1.0 | 180 | 100 | ||
WST-20-0401 | 141.0 | 143.0 | 2.0 | 4.33 | Lynx_301 | Lynx | |
WST-20-0425 | 59.0 | 61.7 | 2.7 | 3.73 | Lynx | Lynx | |
WST-20-0475 | 155.0 | 157.6 | 2.6 | 16.6 | Lynx_301 | Lynx | |
including | 155.7 | 156.3 | 0.6 | 65.6 | |||
WST-20-0482 | 38.0 | 40.4 | 2.4 | 4.25 | Lynx | Lynx | |
WST-20-0485 | 44.2 | 46.4 | 2.2 | 3.97 | Lynx_325 | Lynx | |
WST-20-0489 | 277.0 | 279.0 | 2.0 | 6.36 | Triple Lynx | Triple Lynx | |
WST-20-0516 | 106.0 | 108.0 | 2.0 | 5.56 | Lynx | Lynx | |
WST-20-0523A | 310.0 | 312.0 | 2.0 | 7.57 | Lynx SW | Lynx SW | |
WST-20-0529 | 214.8 | 217.4 | 2.6 | 8.53 | Lynx | Lynx | |
including | 215.5 | 215.8 | 0.3 | 19.0 | |||
227.9 | 230.1 | 2.2 | 8.48 | Lynx | Lynx | ||
including | 227.9 | 228.4 | 0.5 | 28.0 | |||
WST-20-0541 | 116.1 | 118.2 | 2.1 | 8.87 | Lynx_359 | Lynx | |
including | 116.1 | 116.7 | 0.6 | 30.4 | |||
WST-20-0546A | 234.0 | 238.0 | 4.0 | 4.10 | Lynx SW | Lynx SW | |
including | 237.7 | 238.0 | 0.3 | 17.6 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. SW = Southwest.
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-19-1949-W3 | 105 | -57 | 1326 | 453440 | 5435479 | 401 | 3825 |
OSK-W-20-2133-W4 | 118 | -49 | 987 | 453080 | 5435531 | 417 | 3525 |
OSK-W-20-2139-W12 | 115 | -52 | 1038 | 452980 | 5435549 | 420 | 3450 |
OSK-W-20-2170-W6 | 128 | -59 | 1407 | 453425 | 5435657 | 413 | 3900 |
OSK-W-19-2182 | 132 | -50 | 141 | 453505 | 5435428 | 399 | 3850 |
OSK-W-20-2251 | 96 | -53 | 2053 | 453261 | 5435936 | 407 | 3900 |
OSK-W-20-2251-W1 | 96 | -53 | 2278 | 453261 | 5435936 | 407 | 3900 |
OSK-W-20-2252-W4 | 129 | -54 | 1143 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2252-W5 | 129 | -54 | 1092 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2256-W6 | 125 | -51 | 1157 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2264 | 292 | -74 | 1119 | 454127 | 5435062 | 396 | 4225 |
OSK-W-20-2271-W1 | 120 | -53 | 1200 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W2 | 120 | -53 | 1223 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2280-W2 | 127 | -58 | 1211 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W5 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W2 | 135 | -50 | 1011 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2292-W1 | 125 | -54 | 1149 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2292-W2 | 125 | -54 | 1002 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2295-W1 | 132 | -51 | 960 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W2 | 132 | -51 | 963 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W3 | 132 | -51 | 969 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W4 | 132 | -51 | 1082 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2313 | 134 | -52 | 1080 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W2 | 134 | -52 | 1047 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W3 | 134 | -52 | 1041 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2313-W6 | 134 | -52 | 1029 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2317 | 129 | -55 | 900 | 453026 | 5435407 | 412 | 3425 |
OSK-W-20-2319 | 141 | -50 | 768 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2328 | 136 | -56 | 942 | 452872 | 5435153 | 409 | 3175 |
OSK-W-20-2334 | 125 | -53 | 1166 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2339 | 144 | -50 | 1025 | 452961 | 5435441 | 414 | 3400 |
OSK-W-20-2351 | 141 | -49 | 1107 | 452895 | 5435539 | 410 | 3375 |
OSK-W-20-2353 | 129 | -50 | 1338 | 452732 | 5435570 | 405 | 3250 |
OSK-W-20-2370 | 351 | -46 | 297 | 452721 | 5434747 | 397 | 2850 |
WST-20-0012D | 174 | -62 | 465 | 453226 | 5435126 | 134 | 3475 |
WST-20-0078 | 154 | -62 | 525 | 453227 | 5435125 | 134 | 3475 |
WST-20-0330 | 183 | -34 | 422 | 453226 | 5435125 | 135 | 3475 |
WST-20-0380 | 159 | 11 | 85 | 453228 | 5435126 | 136 | 3475 |
WST-20-0401 | 159 | 29 | 162 | 453493 | 5435287 | 119 | 3775 |
WST-20-0425 | 161 | 18 | 166 | 453358 | 5435208 | 156 | 3625 |
WST-20-0475 | 135 | 41 | 174 | 453494 | 5435287 | 120 | 3775 |
WST-20-0482 | 165 | 9 | 181 | 453449 | 5435264 | 117 | 3725 |
WST-20-0485 | 148 | -44 | 181 | 453359 | 5435209 | 154 | 3625 |
WST-20-0489 | 174 | -31 | 415 | 453256 | 5435209 | 96 | 3525 |
WST-20-0516 | 168 | -33 | 195 | 453418 | 5435305 | 69 | 3725 |
WST-20-0523A | 166 | -46 | 387 | 453104 | 5435065 | 231 | 3325 |
WST-20-0529 | 305 | -42 | 426 | 453414 | 5435310 | 69 | 3725 |
WST-20-0541 | 150 | -28 | 138 | 453315 | 5435165 | 124 | 3575 |
WST-20-0546A | 175 | -51 | 484 | 453228 | 5435126 | 135 | 3475 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Triple Lynx
Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS Laboratories. Drill program design, QualityAssurance/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 Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones:Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth.Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a100% 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; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; 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 drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653
OSISKO WINDFALL INFILL DRILLING: STILL GOOD
New Intercepts Include 206 g/t Au over 2.0 Metres
(Toronto, January 6, 2021) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing expansion and definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Drilling is currently focused on the Lynx deposit, with the near-term objective of completion of the infill program in preparation for feasibility work. Osisko Chief Executive Officer John Burzynski commented: “We anticipate a busy year ahead as we maintain the steady drill pace of 2020 and work towards the completion of infilling our resource. The principal mineralized zones also remain open down plunge, and near deposit exploration is continuing to give encouraging results, which we believe will lead to new mineralized extensions and additions.”
The table below contains resource definition infill intercepts located inside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). Significant new analytical results are presented below and include 90 intercepts in 25 drill holes and 23 wedges.
Selected high-grade intercepts from the new results include: 206 g/t Au over 2.0 metres in WST-20-0581; 60.0 g/t Au over 2.0 metres in WST-20-0498; 52.9 g/t Au over 2.8 metres in WST-20-0513; 47.5 g/t Au over 2.2 metres in OSK-W-20-2334; 42.4 g/t Au over 2.3 metres in WST-20-0523A; 40.4 g/t Au over 3.6 metres in OSK-W-20-2133-W4. Maps showing hole locations and full analytical results are available at www.osiskomining.com.
Hole No. | From (m) | To (m) | Interval (m) | Au (g/t) uncut | Au (g/t) cut to 100 g/t | Zone | Corridor |
OSK-W-20-2133-W4 | 798.8 | 802.4 | 3.6 | 40.4 | Triple Lynx | Triple Lynx | |
including | 799.2 | 800.2 | 1.0 | 73.3 | |||
OSK-W-20-2243-W6 | 804.7 | 806.8 | 2.1 | 9.02 | Lynx_361 | Triple Lynx | |
851.4 | 854.8 | 3.4 | 23.5 | Triple Lynx | Triple Lynx | ||
including | 853.1 | 853.9 | 0.8 | 68.9 | |||
OSK-W-20-2252-W7 | 842.6 | 849.0 | 6.4 | 6.93 | Triple Lynx | Triple Lynx | |
including | 844.8 | 845.1 | 0.3 | 41.7 | |||
879.1 | 881.8 | 2.7 | 4.62 | Lynx_371 | Triple Lynx | ||
including | 879.4 | 879.7 | 0.3 | 16.0 | |||
885.0 | 889.0 | 4.0 | 4.70 | Lynx_371 | Triple Lynx | ||
893.9 | 896.7 | 2.8 | 5.67 | Lynx_371 | Triple Lynx | ||
919.7 | 923.0 | 3.3 | 4.45 | Lynx_361 | Triple Lynx | ||
including | 919.7 | 920.0 | 0.3 | 13.3 | |||
OSK-W-20-2256-W4 | 1012.0 | 1014.0 | 2.0 | 14.6 | Triple Lynx | Triple Lynx | |
OSK-W-20-2256-W6 | 868.8 | 872.6 | 3.8 | 24.4 | Lynx_371 | Triple Lynx | |
including | 869.7 | 870.3 | 0.6 | 79.5 | |||
875.0 | 879.0 | 4.0 | 4.91 | Lynx_371 | Triple Lynx | ||
883.0 | 892.0 | 9.0 | 18.2 | Lynx_361 | Triple Lynx | ||
including | 887.6 | 888.3 | 0.7 | 57.6 | |||
OSK-W-20-2256-W7 | 869.4 | 872.0 | 2.6 | 4.86 | Lynx_361 | Triple Lynx | |
899.0 | 901.0 | 2.0 | 15.4 | Triple Lynx | Triple Lynx | ||
including | 899.6 | 900.0 | 0.4 | 69.4 | |||
OSK-W-20-2264 | 782.2 | 790.0 | 7.8 | 10.5 | Lynx_330 | Lynx | |
including | 786.9 | 787.6 | 0.7 | 38.4 | |||
OSK-W-20-2271-W1 | 847.5 | 849.5 | 2.0 | 4.50 | Lynx | Lynx | |
OSK-W-20-2271-W2 | 1024.5 | 1026.9 | 2.4 | 32.1 | Lynx_330 | Lynx | |
including | 1026.6 | 1026.9 | 0.3 | 90.1 | |||
1064.0 | 1066.1 | 2.1 | 6.13 | Lynx_334 | Lynx | ||
including | 1065.2 | 1065.6 | 0.4 | 20.3 | |||
1077.0 | 1079.0 | 2.0 | 5.15 | Lynx_334 | Lynx | ||
OSK-W-20-2275-W3 | 899.0 | 901.0 | 2.0 | 10.8 | Triple Lynx | Triple Lynx | |
including | 900.3 | 900.7 | 0.4 | 43.3 | |||
OSK-W-20-2275-W4 | 635.0 | 637.1 | 2.1 | 7.18 | Lynx_365 | Triple Lynx | |
including | 636.1 | 636.5 | 0.4 | 25.6 | |||
804.8 | 810.4 | 5.6 | 11.8 | Triple Lynx | Triple Lynx | ||
including | 806.3 | 806.9 | 0.6 | 55.1 | |||
835.0 | 837.0 | 2.0 | 11.1 | Triple Lynx | Triple Lynx | ||
including | 835.6 | 836.0 | 0.4 | 54.7 | |||
889.5 | 892.0 | 2.5 | 5.40 | Triple Lynx | Triple Lynx | ||
including | 890.4 | 891.0 | 0.6 | 22.4 | |||
OSK-W-20-2280-W2 | 1102.7 | 1105.0 | 2.3 | 5.46 | Lynx_370 | Triple Lynx | |
including | 1103.5 | 1104.0 | 0.5 | 20.9 | |||
OSK-W-20-2280-W3 | 1099.2 | 1101.3 | 2.1 | 5.22 | Triple Lynx | Triple Lynx | |
including | 1101.0 | 1101.3 | 0.3 | 17.7 | |||
1103.0 | 1108.9 | 5.9 | 4.92 | Triple Lynx | Triple Lynx | ||
including | 1108.6 | 1108.9 | 0.3 | 18.2 | |||
1112.9 | 1116.0 | 3.1 | 20.1 | Lynx_370 | Triple Lynx | ||
including | 1112.9 | 1113.5 | 0.6 | 77.8 | |||
OSK-W-20-2280-W4 | 1040.0 | 1042.0 | 2.0 | 6.32 | Triple Lynx | Triple Lynx | |
1044.0 | 1046.0 | 2.0 | 4.83 | Triple Lynx | Triple Lynx | ||
including | 1044.6 | 1044.9 | 0.3 | 24.6 | Triple Lynx | Triple Lynx | |
1072.9 | 1077.5 | 4.6 | 12.8 | Triple Lynx | Triple Lynx | ||
including | 1075.5 | 1075.9 | 0.4 | 97.2 | |||
1091.2 | 1098.0 | 6.8 | 3.96 | Triple Lynx | Triple Lynx | ||
1100.7 | 1105.0 | 4.3 | 13.5 | 12.7 | Lynx_364 | Triple Lynx | |
including | 1100.7 | 1101.0 | 0.3 | 112 | 100 | ||
1109.7 | 1114.0 | 4.3 | 16.9 | 15.7 | Lynx_364 | Triple Lynx | |
including | 1109.7 | 1110.0 | 0.3 | 117 | 100 | ||
OSK-W-20-2280-W5 | 1010.5 | 1016.0 | 5.5 | 3.61 | Lynx_363 | Triple Lynx | |
1039.0 | 1041.0 | 2.0 | 22.4 | Lynx_364 | Triple Lynx | ||
including | 1039.5 | 1040.0 | 0.5 | 81.8 | |||
1046.0 | 1052.0 | 6.0 | 30.4 | 23.7 | Lynx_364 | Triple Lynx | |
including | 1047.8 | 1049.0 | 1.2 | 129 | 95 | ||
1054.0 | 1059.9 | 5.9 | 14.7 | Lynx_364 | Triple Lynx | ||
including | 1059.2 | 1059.9 | 0.7 | 82.8 | |||
1093.0 | 1096.0 | 3.0 | 12.0 | Triple Lynx | Triple Lynx | ||
OSK-W-20-2283-W1 | 807.0 | 809.6 | 2.6 | 8.20 | Triple Lynx | Triple Lynx | |
including | 807.5 | 809.6 | 2.1 | 9.02 | |||
OSK-W-20-2283-W2 | 814.8 | 817.1 | 2.3 | 8.16 | Triple Lynx | Triple Lynx | |
including | 816.6 | 817.1 | 0.5 | 26.8 | |||
832.7 | 835.0 | 2.3 | 6.13 | Triple Lynx | Triple Lynx | ||
991.0 | 993.0 | 2.0 | 9.11 | Triple Lynx | Triple Lynx | ||
including | 991.3 | 991.8 | 0.5 | 35.7 | |||
OSK-W-20-2283-W6 | 831.6 | 836.0 | 4.4 | 17.6 | Lynx_361 | Triple Lynx | |
including | 833.3 | 834.6 | 1.3 | 40.6 | |||
OSK-W-20-2292-W4 | 892.0 | 894.9 | 2.9 | 4.02 | Lynx_375 | Triple Lynx | |
including | 893.1 | 893.8 | 0.7 | 10.3 | |||
OSK-W-20-2295-W2 | 679.7 | 682.0 | 2.3 | 24.7 | 17.4 | Triple Lynx | Triple Lynx |
including | 681.7 | 682.0 | 0.3 | 157 | 100 | ||
OSK-W-20-2295-W3 | 660.3 | 662.3 | 2.0 | 3.89 | Triple Lynx | Triple Lynx | |
OSK-W-20-2295-W4 | 670.1 | 673.1 | 3.0 | 5.99 | Triple Lynx | Triple Lynx | |
including | 670.1 | 670.6 | 0.5 | 16.6 | |||
698.0 | 700.1 | 2.1 | 4.33 | Triple Lynx | Triple Lynx | ||
including | 699.8 | 700.1 | 0.3 | 23.7 | |||
757.0 | 759.3 | 2.3 | 4.08 | Triple Lynx | Triple Lynx | ||
including | 757.0 | 757.5 | 0.5 | 10.1 | |||
822.5 | 824.5 | 2.0 | 3.90 | Triple Lynx | Triple Lynx | ||
including | 823.5 | 824.0 | 0.5 | 14.1 | |||
841.0 | 843.0 | 2.0 | 5.77 | Triple Lynx | Triple Lynx | ||
including | 841.4 | 841.7 | 0.3 | 31.5 | |||
OSK-W-20-2313-W5 | 819.9 | 822.0 | 2.1 | 7.49 | Lynx_376 | Triple Lynx | |
OSK-W-20-2322-W1 | 1119.8 | 1124.6 | 4.8 | 7.20 | Lynx_330 | Lynx | |
including | 1120.5 | 1121.2 | 0.7 | 13.8 | |||
OSK-W-20-2334 | 1007.1 | 1009.3 | 2.2 | 47.5 | 41.7 | Lynx_330 | Lynx |
including | 1008.0 | 1008.4 | 0.4 | 132 | 100 | ||
OSK-W-20-2367 | 59.0 | 62.0 | 3.0 | 6.38 | Lynx_335 | Lynx SW | |
WST-20-0406 | 130.2 | 132.4 | 2.2 | 3.26 | Lynx_322 | Lynx | |
WST-20-0486 | 57.5 | 63.7 | 6.2 | 15.1 | Lynx_303 | Lynx | |
including | 58.5 | 59.0 | 0.5 | 47.1 | |||
and | 59.7 | 60.1 | 0.4 | 46.1 | |||
114.0 | 116.0 | 2.0 | 10.5 | Lynx_304 | Lynx | ||
including | 115.4 | 116.0 | 0.6 | 27.6 | |||
WST-20-0498 | 123.5 | 125.7 | 2.2 | 3.84 | Lynx_304 | Lynx | |
132.5 | 134.5 | 2.0 | 60.0 | 41.3 | Lynx_304 | Lynx | |
including | 133.8 | 134.5 | 0.7 | 154 | 100 | ||
WST-20-0502 | 73.4 | 76.0 | 2.6 | 4.73 | Lynx_311 | Lynx | |
WST-20-0503 | 57.9 | 59.9 | 2.0 | 18.6 | Lynx_311 | Lynx | |
including | 57.9 | 58.7 | 0.8 | 46.1 | |||
WST-20-0505A | 84.5 | 87.0 | 2.5 | 9.07 | Lynx_307 | Lynx | |
including | 84.5 | 84.8 | 0.3 | 72.4 | |||
233.5 | 236.0 | 2.5 | 3.00 | Lynx SW | Lynx SW | ||
WST-20-0506 | 123.2 | 125.5 | 2.3 | 7.83 | Lynx_304 | Lynx | |
including | 123.9 | 124.7 | 0.8 | 22.4 | |||
WST-20-0509 | 94.4 | 96.5 | 2.1 | 4.24 | Lynx_304 | Lynx | |
including | 94.4 | 94.7 | 0.3 | 13.9 | |||
WST-20-0512 | 48.2 | 50.2 | 2.0 | 8.84 | Lynx_303 | Lynx | |
including | 49.3 | 49.9 | 0.6 | 29.1 | |||
54.0 | 56.0 | 2.0 | 21.1 | Lynx_311 | Lynx | ||
including | 54.9 | 55.4 | 0.5 | 83.8 | |||
WST-20-0513 | 138.0 | 140.8 | 2.8 | 52.9 | 44.5 | Lynx_323 | Lynx |
including | 139.0 | 139.9 | 0.9 | 126 | 100 | ||
151.8 | 154.0 | 2.2 | 3.67 | Lynx_304 | Lynx | ||
WST-20-0514 | 141.0 | 143.0 | 2.0 | 20.9 | Lynx_323 | Lynx | |
including | 141.0 | 142.0 | 1.0 | 32.5 | |||
WST-20-0523A | 67.2 | 69.4 | 2.2 | 14.8 | Lynx_311 | Lynx | |
including | 67.7 | 68.4 | 0.7 | 44.8 | |||
72.0 | 74.3 | 2.3 | 42.4 | Lynx_311 | Lynx | ||
including | 73.5 | 74.3 | 0.8 | 90.4 | |||
WST-20-0525 | 142.0 | 144.0 | 2.0 | 13.3 | Lynx_323 | Lynx | |
including | 142.0 | 143.0 | 1.0 | 26.4 | |||
WST-20-0537 | 84.9 | 87.1 | 2.2 | 6.49 | Lynx | Lynx | |
including | 86.4 | 87.1 | 0.7 | 16.1 | |||
WST-20-0538 | 105.0 | 107.2 | 2.2 | 15.0 | Lynx_304 | Lynx | |
including | 105.3 | 105.8 | 0.5 | 64.4 | |||
117.0 | 120.0 | 3.0 | 4.15 | Lynx | Lynx | ||
WST-20-0539 | 45.9 | 48.2 | 2.3 | 6.89 | Lynx_303 | Lynx | |
96.6 | 98.6 | 2.0 | 20.6 | Lynx_304 | Lynx | ||
including | 97.0 | 97.5 | 0.5 | 80.2 | |||
WST-20-0540 | 51.3 | 53.5 | 2.2 | 3.12 | Lynx_303 | Lynx | |
111.0 | 113.2 | 2.2 | 7.86 | Lynx_304 | Lynx | ||
including | 111.0 | 111.3 | 0.3 | 47.2 | |||
WST-20-0541 | 45.8 | 48.1 | 2.3 | 10.0 | Lynx_303 | Lynx | |
including | 46.4 | 47.2 | 0.8 | 25.6 | |||
60.1 | 62.3 | 2.2 | 13.8 | Lynx | Lynx | ||
including | 60.9 | 61.7 | 0.8 | 34.3 | |||
98.0 | 100.0 | 2.0 | 15.7 | Lynx_304 | Lynx | ||
including | 99.0 | 99.5 | 0.5 | 36.3 | |||
WST-20-0544 | 52.7 | 55.5 | 2.8 | 72.0 | 55.8 | Lynx_303 | Lynx |
including | 52.7 | 54.1 | 1.4 | 132 | 100 | ||
WST-20-0563 | 129.4 | 131.5 | 2.1 | 4.72 | Lynx_365 | Triple Lynx | |
including | 129.4 | 130.0 | 0.6 | 15.1 | |||
WST-20-0579 | 58.0 | 60.5 | 2.5 | 5.62 | Lynx_303 | Lynx | |
WST-20-0581 | 268.4 | 274.0 | 5.6 | 4.56 | Lynx SW | Lynx SW | |
283.0 | 285.0 | 2.0 | 206 | 45.4 | Lynx SW | Lynx SW | |
including | 283.0 | 283.9 | 0.9 | 458 | 100 |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below.
Drill hole location
Hole Number | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation | Section |
OSK-W-20-2133-W4 | 118 | -49 | 987 | 453080 | 5435531 | 417 | 3525 |
OSK-W-20-2243-W6 | 122 | -54 | 965 | 453086 | 5435526 | 417 | 3550 |
OSK-W-20-2252-W7 | 129 | -54 | 1191 | 453241 | 5435694 | 415 | 3750 |
OSK-W-20-2256-W4 | 125 | -51 | 1122 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2256-W6 | 125 | -51 | 1157 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2256-W7 | 125 | -51 | 1005 | 453160 | 5435686 | 411 | 3675 |
OSK-W-20-2264 | 292 | -74 | 1119 | 454127 | 5435062 | 396 | 4225 |
OSK-W-20-2271-W1 | 120 | -53 | 1200 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2271-W2 | 120 | -53 | 1223 | 453462 | 5435683 | 410 | 3950 |
OSK-W-20-2275-W3 | 127 | -49 | 1050 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2275-W4 | 127 | -49 | 1052 | 452888 | 5435583 | 409 | 3400 |
OSK-W-20-2280-W2 | 127 | -58 | 1211 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W3 | 127 | -58 | 1191 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W4 | 127 | -58 | 1215 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2280-W5 | 127 | -58 | 1134 | 453304 | 5435639 | 415 | 3775 |
OSK-W-20-2283-W1 | 135 | -50 | 1035 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W2 | 135 | -50 | 1011 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2283-W6 | 135 | -50 | 957 | 452997 | 5435607 | 425 | 3500 |
OSK-W-20-2292-W4 | 125 | -54 | 984 | 453035 | 5435561 | 420 | 3525 |
OSK-W-20-2295-W2 | 132 | -51 | 963 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W3 | 132 | -51 | 969 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2295-W4 | 132 | -51 | 1082 | 452933 | 5435473 | 415 | 3375 |
OSK-W-20-2313-W5 | 134 | -52 | 1086 | 452965 | 5435583 | 420 | 3450 |
OSK-W-20-2322-W1 | 130 | -54 | 1233 | 453608 | 5435715 | 403 | 4075 |
OSK-W-20-2334 | 125 | -53 | 1166 | 453397 | 5435557 | 413 | 3825 |
OSK-W-20-2367 | 349 | -46 | 279 | 452742 | 5434761 | 398 | 2875 |
WST-20-0406 | 135 | -8 | 202 | 453494 | 5435287 | 117 | 3775 |
WST-20-0486 | 130 | -37 | 162 | 453359 | 5435209 | 154 | 3625 |
WST-20-0498 | 132 | -11 | 169 | 453228 | 5435126 | 136 | 3475 |
WST-20-0502 | 144 | -40 | 115 | 453105 | 5435065 | 231 | 3325 |
WST-20-0503 | 148 | 6 | 99 | 453105 | 5435065 | 232 | 3325 |
WST-20-0505A | 183 | -45 | 331 | 453227 | 5435125 | 134 | 3475 |
WST-20-0506 | 175 | 20 | 141 | 453357 | 5435208 | 156 | 3625 |
WST-20-0509 | 126 | -20 | 148 | 453316 | 5435166 | 124 | 3575 |
WST-20-0512 | 159 | -10 | 139 | 453315 | 5435164 | 125 | 3575 |
WST-20-0513 | 147 | -25 | 184 | 453418 | 5435305 | 69 | 3725 |
WST-20-0514 | 154 | -26 | 181 | 453418 | 5435305 | 69 | 3725 |
WST-20-0523A | 166 | -46 | 387 | 453104 | 5435065 | 231 | 3325 |
WST-20-0525 | 165 | -20 | 187 | 453418 | 5435305 | 69 | 3725 |
WST-20-0537 | 132 | -32 | 139 | 453316 | 5435166 | 124 | 3575 |
WST-20-0538 | 130 | -37 | 142 | 453316 | 5435166 | 124 | 3575 |
WST-20-0539 | 122 | -29 | 139 | 453316 | 5435166 | 124 | 3575 |
WST-20-0540 | 129 | -42 | 147 | 453316 | 5435166 | 124 | 3575 |
WST-20-0541 | 150 | -28 | 138 | 453315 | 5435165 | 124 | 3575 |
WST-20-0544 | 144 | -43 | 144 | 453315 | 5435165 | 124 | 3575 |
WST-20-0563 | 324 | -40 | 248 | 453255 | 5435214 | 96 | 3525 |
WST-20-0579 | 162 | -38 | 144 | 453315 | 5435165 | 124 | 3575 |
WST-20-0581 | 181 | -60 | 474 | 453177 | 5435126 | 173 | 3425 |
Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. The vein-type is associated with haloes of pervasive sericite-pyrite ± silica alteration and contain sulphides (predominantly pyrite with minor amounts of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and local visible gold. Replacement mineralization is associated with strong pervasive silica-sericite-ankerite ± tourmaline alteration and contains disseminated pyrite from trace to 80% with local visible gold. Pyrite stockworks can form envelopes that reach several tens of metres thick. Fuchsite alteration is common and is spatially constrained to near the gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and locally can be hosted along the gabbro-rhyolite contact.
Triple Lynx
Mineralization in the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, associated with pervasive sericite-pyrite ± silica alteration and contain sulphides similar to the main Lynx Zone, pyrite dominated with minor other sulphides, ranging from trace to up to 70% locally, and local visible gold. Locally fuchsite is present when proximal to the gabbros. Mineralization is hosted in or at the contacts of felsic porphyritic dikes with rhyolites (locally bleached) or gabbros.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Project Manager of Osisko’s Windfall Lake gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“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. All NQ core assays reported were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Thunder Bay, Ontario, Sudbury, Ontario or Vancouver, British Colombia, or (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a four acids digestion -MS61 method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“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 Eeyou Istchee James Bay, Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 19, 2020 and supported by the technical report entitled “An updated mineral resource estimate for the Windfall Lake Project, Located in the Abitibi Greenstone Belt, Urban Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an effective date of January 3, 2020), and assuming a cut-off grade of 3.5 g/t, comprises 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) in the indicated mineral resource category and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 19,2020 news release are further described in the full technical report prepared by Micon International Limited (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs in three principal zones: Lynx, Main Zone, and Underdog. Mineralization is generally comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type styles of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially associated with the contacts of the intrusions. The deposit is well defined from surface to a depth of 1,200 metres and remains open along strike and at depth. Mineralization has been identified 30 metres from surface in some areas and as deep as 2,000 metres in others, with significant potential to extend mineralization down-plunge and at depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometres).
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; the prospects, if any, of the Windfall gold deposit; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the projected capital expenditures of mining activities at the Windfall gold deposit; upgrading an inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the deposit remaining open along strike to the northeast and at depth; significant high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; 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 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 TSX APPROVAL TO RENEW NORMAL COURSE ISSUER BID
(Toronto, December 30, 2020) Osisko Mining Inc. (TSX:OSK) (the “Corporation” or “Osisko“) today announces that the Toronto Stock Exchange (the “TSX”) has approved the Corporation’s notice of intention to make a normal course issuer bid (the “NCIB Program”). Under the terms of the NCIB Program, Osisko may acquire up to 28,304,260 of its common shares (“Common Shares”) from time to time in accordance with the normal course issuer bid procedures of the TSX.
The normal course issuer bid will be conducted through the facilities of the TSX or alternative trading systems, if eligible, and will conform to their regulations. Purchases under the normal course issuer bid will be made by means of open market transactions or such other means as a securities regulatory authority may permit, including pre-arranged crosses, exempt offers and private agreements under an issuer bid exemption order issued by a securities regulatory authority.
Repurchases under the NCIB Program may commence on January 2, 2021 and will terminate on January 1, 2022 or on such earlier date as the NCIB Program is complete. Daily purchases will be limited to 357,614 Common Shares, other than block purchase exemptions, representing 25% of the average daily trading volume of the Common Shares on the TSX for the six-month period ending November 30, 2020, being 1,430,456 Common Shares.
The price that the Corporation may pay for any Common Shares purchased in the open market under the NCIB Program will be the prevailing market price at the time of purchase (plus any brokerage fees) and any Common Shares purchased by the Corporation will be cancelled. In the event that the Corporation purchases Common Shares by pre-arranged crosses, exempt offers, block purchases or private agreements, the purchase price of the Common Shares may be, and will be in the case of purchases by private agreements, as may be permitted by the securities regulatory authority, at a discount to the market price of the Common Shares at the time of acquisition.
The board of directors of Osisko believes that the underlying value of the Corporation may not be reflected in the market price of the Common Shares from time to time and that, accordingly, the purchase of Common Shares will increase the proportionate interest in the Corporation of, and be advantageous to, all remaining shareholders of the Corporation.
As of December 18, 2020, there were 344,207,806 Common Shares issued and outstanding. The 28,304,260 Common Shares that may be repurchased under the NCIB Program represent approximately 10% of the public float of the Corporation as of December 18, 2020, being 283,042,606 Common Shares.
During the prior NCIB Program of the Corporation, which will end on January 1, 2021, the Corporation obtained approval to purchase 18,399,423 Common Shares, and actually purchased 428,500 Common Shares at a weighted average price of approximately $2.05 per Common Share through the facilities of the TSX.
Osisko has appointed BMO Nesbitt Burns Inc. to make any purchases under the NCIB Program on its behalf.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of precious metal resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau in Québec and holds a 100% undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quévillon area (over 2,700 square kilometers).
Forward-looking statements
This press release contains forward-looking statements. These forward-looking statements, by their nature, require the Corporation to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Words such as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue”, or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements including the fact that the Corporation “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential”, “scheduled” and similar expressions or variations (including negative variations), or that events or conditions “will”, “would”, “may”, “could” or “should” occur including, without limitation, statements about the board of directors of Osisko’s belief that the NCIB Program is advantageous to shareholders and that underlying value of the Corporation may not be reflected in the market price of the Common Shares, the Corporation’s intentions regarding the NCIB Program and whether the Corporation will receive the requisite acceptance of the TSX in respect of the NCIB Program. Although Osisko believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements involve known and unknown risks, uncertainties and other factors and are not guarantees of future performance and actual results may accordingly differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, without limitation: fluctuations in the prices of the commodities; fluctuations in the value of the Canadian dollar relative to the U.S. dollar; regulatory changes by national and local government, including corporate law, permitting and licensing regimes and taxation policies; continued availability of capital and financing and general economic, market or business conditions; business opportunities that become available to, or are pursued by Osisko; other uninsured risks. The forward looking statements contained in this press release are based upon assumptions management believes to be reasonable, including, without limitation: 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 drilling; property interests in the Windfall Lake gold project; the ability of the Corporation to obtain required approvals and complete transactions on terms announced; 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.
For further information, please contact Osisko Mining Inc.:
John Burzynski
Chairman and Chief Executive Officer
Telephone: (416) 363-8653