OSISKO INFILL DRILLING RETURNS MORE HIGH GRADE VALUES IN LYNX

Including 153 g/t Au over 3.4 Metres

(Toronto, April 14, 2020) Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new infill drilling results from the definition drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Operations remain temporarily suspended in respect of the Government of Québec’s closure of all non-essential business in effort to contain COVID-19. Osisko is ready to resume drilling activities at Windfall once the temporary suspension is lifted. Drilling will remain focused on the Lynx deposit, exploration on the main mineralized zones, and deep exploration in the central areas of the mineralized system.  Additional results from pre-shut down drilling will continue to be released as they become available in the coming weeks. These analytical results are from laboratories outside Québec that have continued sample processing operations.

Significant new analytical results from Lynx and Triple Lynx are presented below, including 62 intercepts in 27 drill holes and 8 wedges.

Selected high-grade intercepts include: 153 g/t Au over 3.4 metres in WST-19-0234; 108 g/t Au over 2.2 metres in WST-20-0372; 99.2 g/t Au over 2.0 metres in WST-20-0286; 91.3 g/t Au over 2.0 metres in OSK-W-20-2139-W6 and 51.6 g/t Au over 2.8 metres in OSK-W-20-2100-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-18-1639 875.0 877.0 2.0 23.7 Lynx_350 Lynx
including 875.0 876.0 1.0 45.3
OSK-W-20-1072-W5 867.1 869.1 2.0 54.1 18.0 Lynx_330 Lynx
including 868.8 869.1 0.3 341 100
  884.0 886.0 2.0 30.8 Lynx_340 Lynx
including 884.0 885.0 1.0 56.5
  1079.5 1081.5 2.0 3.17 Lynx 4 Lynx
including 1080.4 1080.7 0.3 19.4
OSK-W-20-1272-W6 789.2 792.0 2.8 8.13 Lynx_371 Lynx
including 790.1 790.8 0.7 22.2
  797.0 799.1 2.1 7.56 Lynx_371 Lynx
  804.0 806.0 2.0 4.66 Lynx_361 Lynx
  809.6 812.0 2.4 5.94 Lynx_361 Lynx
  818.1 821.0 2.9 4.82 Lynx_361 Lynx
  823.0 825.0 2.0 3.28 Lynx_361 Lynx
  831.9 835.4 3.5 5.94 Lynx_361 Lynx
including 835.0 835.4 0.4 28.0
  853.0 856.0 3.0 4.36 Lynx_368 Lynx
  859.0 861.0 2.0 3.67 Lynx_368 Lynx
  901.0 903.0 2.0 18.3 Lynx_364 Lynx
including 902.0 903.0 1.0 34.6
OSK-W-20-1731-W6 542.4 545.0 2.6 39.3 35.9 Lynx_310 Lynx
including 543.0 543.9 0.9 110 100
  577.4 580.2 2.8 11.5 Lynx_305 Lynx
including 577.4 577.7 0.3 59.9
  1000.5 1003.0 2.5 4.90   Lynx_327 Lynx
OSK-W-20-2100-W6 927.5 930.3 2.8 51.6 34.3 Lynx_361 Lynx
including 928.9 929.2 0.3 262 100
OSK-W-20-2100-W9 931.0 933.0 2.0 4.38 Lynx_361 Lynx
OSK-W-20-2123-W4 1112.0 1114.0 2.0 3.13 Lynx_368 Lynx
  1168.0 1173.0 5.0 8.48 Lynx_364 Lynx
  1184.0 1186.5 2.5 7.70 Lynx_370 Lynx
OSK-W-20-2139-W6 874.8 876.8 2.0 91.3 45.7 Lynx_361 Lynx
including 876.0 876.4 0.4 328 100
OSK-W-20-2202-W2 969.6 972.0 2.4 14.2 13.3 Lynx_363 Lynx
including 970.1 970.4 0.3 107 100
OSK-W-20-2243 789.6 792.0 2.4 19.4 18.4 Lynx_361 Lynx
including 790.2 790.5 0.3 108 100
  795.0 797.0 2.0 7.13 Lynx_361 Lynx
  800.1 802.4 2.3 5.01 Lynx_361 Triple Lynx
WST-19-0234 69.2 72.6 3.4 153 17.8 Lynx_311 Lynx
Including 69.2 69.5 0.3 1630 100
WST-19-0239 66.6 69.1 2.5 9.88 Lynx_311 Lynx
including 68.5 69.1 0.6 37.9
WST-19-0240 74.4 77.0 2.6 9.52 Lynx_308 Lynx
including 74.4 74.8 0.4 56.2
WST-20-0283 65.6 68.0 2.4 6.95 Lynx_311 Lynx
including 66.3 66.8 0.5 24.8
WST-20-0285 113.9 116.0 2.1 3.93 Lynx_320 Lynx
including 114.8 115.3 0.5 15.3
  118.0 120.0 2.0 3.35 Lynx_319 Lynx
including 118.6 119.2 0.6 10.9
WST-20-0286 54.3 56.3 2.0 99.2 55.1 Lynx_311 Lynx
including 55.7 56.3 0.6 247 100
WST-20-0294 67.9 70.0 2.1 19.7 Lynx_311 Lynx
including 67.9 68.8 0.9 45.5
WST-20-0295 63.6 65.6 2.0 27.0 21.0 Lynx_311 Lynx
including 64.9 65.3 0.4 130 100
WST-20-0302 74.0 76.2 2.2 5.09 Lynx_311 Lynx
including 75.6 76.2 0.6 17.7
WST-20-0322 68.8 71.0 2.2 24.6 13.8 Lynx_323 Lynx
including 68.8 69.1 0.3 179 100
  129.5 131.5 2.0 12.3 Lynx_306 Lynx
including 130.6 131.5 0.9 26.0
WST-20-0337 68.0 70.1 2.1 6.21 Lynx_323 Lynx
including 69.4 70.1 0.7 12.6
  90.0 92.5 2.5 6.10 Lynx_304 Lynx
including 90.0 90.3 0.3 38.7
WST-20-0340 78.5 80.6 2.1 8.07 Lynx_323 Lynx
including 78.5 79.2 0.7 23.9
  87.7 89.7 2.0 69.2 62.2 Lynx_304 Lynx
including 88.3 89.1 0.8 118 100
  111.0 113.0 2.0 4.40 Lynx_359 Lynx
WST-20-0359 107.0 109.3 2.3 3.04 Lynx_304 Lynx
WST-20-0362 119.0 121.0 2.0 3.45 Lynx_359 Lynx
WST-20-0363 68.9 71.0 2.1 4.49 Lynx_311 Lynx
  115.5 118.0 2.5 3.16 Lynx_304 Lynx
including 116.3 116.7 0.4 17.9
  122.0 124.5 2.5 16.3 Lynx_359 Lynx
including 123.0 123.8 0.8 50.2
WST-20-0364 110.0 112.0 2.0 7.37 Lynx_304 Lynx
including 111.3 111.6 0.3 17.9
WST-20-0365 120.7 123.0 2.3 3.44 Lynx_359 Lynx
including 122.7 123.0 0.3 14.6
WST-20-0371 136.8 138.9 2.1 13.7 Lynx_304 Lynx
including 138.3 138.9 0.6 43.9
WST-20-0372 126.5 128.5 2.0 5.67 Lynx_304 Lynx
including 127.7 128.0 0.3 31.4
  130.0 132.7 2.7 23.2 17.5 Lynx_304 Lynx
including 132.3 132.7 0.4 139 100
  205.6 207.8 2.2 108 31.7 Lynx_322 Lynx
including 206.6 207.2 0.6 378 100
WST-20-0378 146.0 148.3 2.3 20.6 Lynx_304 Lynx
including 147.0 147.7 0.7 45.9
  200.0 202.2 2.2 18.6 Lynx_322 Lynx
including 200.5 200.9 0.4 95.3
WST-20-0379A 132.0 134.4 2.4 4.54 Lynx_304 Lynx
including 133.5 133.9 0.4 18.8
WST-20-0381 54.1 56.4 2.3 38.1 35.2 Lynx_311 Lynx
including 54.1 54.9 0.8 109 100
WST-20-0382 52.1 54.4 2.3 6.08 Lynx_309 Lynx
WST-20-0383 50.0 52.0 2.0 3.03 Lynx_309 Lynx
including 50.4 51.3 0.9 6.69
WST-20-0390 111.0 113.8 2.8 22.9 18.2 Lynx_304 Lynx
including 112.1 112.6 0.5 127 100

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-18-1639 142 -53 1164 453266 5435397 405 3625
OSK-W-20-1072-W5 145 -57 1262 453612 5435532 399 4000
OSK-W-20-1272-W6 127 -60 1035 453246 5435535 412 3675
OSK-W-20-1731-W6 139 -51 1068 453383 5435518 409 3800
OSK-W-20-2100-W6 122 -47 1260 453093 5435726 419 3650
OSK-W-20-2100-W9 122 -47 1074 453093 5435726 419 3650
OSK-W-20-2123-W4 126 -57 1236 453231 5435774 400 3775
OSK-W-20-2139-W6 115 -52 1089 452980 5435549 420 3450
OSK-W-20-2202-W2 127 -54 1146 452999 5435606 424 3500
OSK-W-20-2243 122 -54 815 453087 5435527 418 3550
WST-19-0234 150 17 157 453216 5435114 224 3450
WST-19-0239 173 1 91 453215 5435114 223 3450
WST-19-0240 135 -3 178 453217 5435115 223 3450
WST-20-0283 165 25 214 453228 5435126 137 3475
WST-20-0285 161 25 211 453228 5435126 137 3475
WST-20-0286 153 16 85 453228 5435126 136 3475
WST-20-0294 131 13 96 453228 5435126 135 3475
WST-20-0295 131 -7 166 453229 5435127 135 3475
WST-20-0302 112 -30 120 453229 5435126 135 3475
WST-20-0322 125 6 154 453292 5435140 163 3525
WST-20-0337 145 -6 203 453411 5435230 114 3675
WST-20-0340 147 -26 135 453410 5435229 114 3675
WST-20-0359 151 -17 145 453450 5435264 115 3725
WST-20-0362 156 -14 148 453450 5435264 115 3725
WST-20-0363 157 -30 154 453450 5435264 115 3725
WST-20-0364 157 -25 282 453450 5435264 115 3725
WST-20-0365 158 -8 142 453450 5435264 116 3725
WST-20-0371 145 -47 163 453493 5435287 116 3775
WST-20-0372 148 -42 451 453493 5435287 116 3775
WST-20-0378 144 -50 253 453493 5435287 116 3775
WST-20-0379A 143 -41 277 453493 5435287 116 3775
WST-20-0381 145 9 82 453228 5435126 136 3475
WST-20-0382 147 -3 158 453228 5435126 135 3475
WST-20-0383 155 -17 92 453227 5435125 135 3475
WST-20-0390 158 -35 175 453450 5435264 115 3725

 

Lynx Zone

Mineralization in the Lynx zone is typically characterized by trace to 15% disseminated, clustered or stringer pyrite (locally up to 70%), local visible gold, trace to 3% sphalerite, chalcopyrite, and galena, local ptygmatic pyrite-tourmaline or tourmaline veinlets, quartz-carbonate veins (locally crustiform), smoky quartz veins and veinlets, and local chlorite-calcite or quartz-carbonate chlorite fracture filling. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. Mineralization is hosted in or at the contacts of felsic porphyritic or fragmental intrusions with rhyolites, andesites (locally bleached), or gabbros.

 

Triple Lynx Zone

Mineralization in the Triple Lynx zone is typically characterized by trace to 30% disseminated, clustered or stringer pyrite, local visible gold, trace sphalerite, chalcopyrite, and galena, local quartz-tourmaline veins (up to 20%), local ptygmatic tourmaline veins, and local smoky quartz and quartz-carbonate veins. Alteration consists of weak to strong sericite, weak to strong silica with areas of local pervasive silica flooding, weak to moderate chlorite and carbonate, and locally weak to strong fuchsite. 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, 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 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 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. 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
President & Chief Executive Officer
Telephone (416) 363-8653