877 g/t Au Over 2.2 Metres, 85.0 g/t Au Over 2.0 Metres in Bobcat
TORONTO, April 13, 2021 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.
Significant new analytical results presented below include 43 intercepts in 18 drill holes (13 from surface, 5 from underground) and 6 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (
see Osisko news release dated February 17,
2021
). The expansion intercepts are located outside the February 2021 mineral resource estimate (“MRE”) and either expand resource wireframes or are located in a defined zone or corridor but do not yet correlate to a specific wireframe.
Osisko Chief Executive Officer John Burzynski commented: “All zones at Windfall continue to expand and infill nicely with respect to the February 2021 MRE blocks, and continue to highlight the potential to increase the strong base case economics from the Windfall PEA, released last week.”
Selected high-grade intercepts include:
877 g/t Au over 2.2 metres
and
85.0 g/t Au over 2.0 metres
in WST-21-0668;
72.2
g/t
Au over 2.0 metres
in OSK-W-21-2442;
53.3 g/t Au over 2.3 metres
in WST-21-0600; and
50.5 g/t Au over 2.4 metres
in OSK-W-21-2442-W1. Maps showing hole locations and full analytical results are available at
www.osiskomining.com
Infill Drilling
Hole No. |
From (m) |
To (m) |
Interval (m) |
Au (g/t) uncut |
Au (g/t) cut to 100 g/t |
Zone |
Corridor |
OSK-W-20-2423 |
938.0 |
940.0 |
2.0 |
4.71 |
|
Underdog_4102 |
Underdog |
including |
939.5 | 940.0 | 0.5 | 16.6 | |||
OSK-W-21-2442 |
627.0 |
629.0 |
2.0 |
17.4 |
|
Underdog_4100 |
Underdog |
including |
628.0 | 629.0 | 1.0 | 34.5 | |||
632.0 |
634.0 |
2.0 |
14.3 |
|
Underdog_4100 |
Underdog |
|
including |
632.4 | 633.0 | 0.6 | 36.7 | |||
642.0 |
644.0 |
2.0 |
24.7 |
|
Underdog_4100 |
Underdog |
|
including |
643.0 | 644.0 | 1.0 | 48.3 | |||
659.0 |
661.0 |
2.0 |
5.31 |
|
Underdog_4102 |
Underdog |
|
including |
659.0 | 659.5 | 0.5 | 12.9 | |||
667.0 |
669.0 |
2.0 |
72.2 |
57.5 |
Underdog_4102 |
Underdog |
|
including |
667.0 | 668.0 | 1.0 | 130 | 100 | ||
686.0 |
688.0 |
2.0 |
17.6 |
|
Underdog_4104 |
Underdog |
|
including |
686.0 | 687.0 | 1.0 | 34.3 | |||
826.0 |
828.0 |
2.0 |
35.9 |
30.0 |
Underdog_4905 |
Underdog |
|
including |
826.8 | 827.4 | 0.6 | 120 | 100 | ||
OSK-W-21-2442-W1 |
696.0 |
698.0 |
2.0 |
3.48 |
|
Underdog_4104 |
Underdog |
including |
696.7 | 697.1 | 0.4 | 11.2 | |||
747.6 |
750.0 |
2.4 |
50.5 |
41.7 |
Underdog_4106 |
Underdog |
|
including |
749.0 | 750.0 | 1.0 | 121 | 100 | ||
762.6 |
764.8 |
2.2 |
5.02 |
|
Underdog_4107 |
Underdog |
|
including |
762.6 | 762.9 | 0.3 | 34.8 | |||
854.6 |
857.0 |
2.4 |
5.10 |
|
Underdog_4905 |
Underdog |
|
OSK-W-21-2455 |
697.0 |
699.0 |
2.0 |
20.4 |
|
Caribou_2220 |
Caribou |
including |
698.0 | 699.0 | 1.0 | 40.5 | |||
OSK-W-21-2463 |
629.0 |
631.0 |
2.0 |
7.21 |
|
Caribou_2206 |
Caribou |
OSK-W-21-2483 |
521.0 |
526.5 |
5.5 |
3.94 |
|
Caribou_2210 |
Caribou |
including |
521.0 | 522.0 | 1.0 | 11.2 | |||
547.0 |
549.3 |
2.3 |
11.2 |
|
Caribou_2215 |
Caribou |
|
including |
548.4 | 549.0 | 0.6 | 29.4 | |||
WST-21-0600 |
160.0 |
162.3 |
2.3 |
53.3 |
|
Bobcat_2350 |
Bobcat |
including |
160.0 | 161.0 | 1.0 | 86.3 | |||
WST-21-0668 |
36.5 |
38.7 |
2.2 |
877 |
19.1 |
Bobcat_2350 |
Bobcat |
including |
36.5 | 36.9 | 0.4 | 4820 | 100 | ||
WST-21-0669 |
74.0 |
76.0 |
2.0 |
11.5 |
|
Bobcat_2354 |
Bobcat |
Notes: True widths are estimated at 55 – 80% of the reported core length interval. See
“Quality Control and Reporting Protocols”
below.
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-20-2374 |
102.3 |
104.4 |
2.1 |
3.16 |
|
Bobcat |
Bobcat |
including |
103.9 | 104.4 | 0.5 | 7.98 | |||
OSK-W-20-2388 |
172.6 |
174.7 |
2.1 |
4.32 |
|
Caribou |
Caribou |
OSK-W-20-2399-W2 |
405.0 |
407.1 |
2.1 |
6.93 |
|
Caribou |
Caribou |
OSK-W-20-2405-W1 |
489.3 |
491.5 |
2.2 |
3.45 |
|
Caribou |
Caribou |
including |
490.9 | 491.5 | 0.6 | 9.86 | |||
OSK-W-20-2410-W2 |
430.6 |
433.9 |
3.3 |
3.80 |
|
Caribou |
Caribou |
including |
433.6 | 433.9 | 0.3 | 14.6 | |||
OSK-W-20-2415 |
467.0 |
469.0 |
2.0 |
4.57 |
|
Caribou |
Caribou |
OSK-W-20-2425 |
181.2 |
184.1 |
2.9 |
3.65 |
|
Caribou |
Caribou |
190.1 |
192.2 |
2.1 |
6.18 |
|
Caribou |
Caribou |
|
OSK-W-20-2430 |
70.8 |
73.0 |
2.2 |
5.59 |
|
F11 |
F11 |
OSK-W-20-2433 |
116.0 |
118.2 |
2.2 |
5.85 |
|
F11 |
F11 |
OSK-W-21-2442 |
916.3 |
918.4 |
2.1 |
3.51 |
|
Underdog |
Underdog |
including |
916.6 | 917.3 | 0.7 | 9.39 | |||
934.0 |
937.3 |
3.3 |
7.33 |
|
Underdog_4501 |
Underdog |
|
including |
935.0 | 935.5 | 0.5 | 18.3 | |||
OSK-W-21-2442-W1 |
661.2 |
664.0 |
2.8 |
3.57 |
|
Underdog |
Underdog |
666.0 |
668.0 |
2.0 |
3.39 |
|
Underdog |
Underdog |
|
OSK-W-21-2460-W1 |
759.0 |
761.0 |
2.0 |
4.39 |
|
Z27 |
Zone 27 |
OSK-W-21-2462-W1 |
655.0 |
657.0 |
2.0 |
6.97 |
|
Caribou |
Caribou |
682.0 |
684.0 |
2.0 |
4.37 |
|
Caribou |
Caribou |
|
OSK-W-21-2476 |
572.6 |
574.8 |
2.2 |
10.7 |
|
Caribou |
Caribou |
OSK-W-21-2490 |
712.0 |
714.0 |
2.0 |
4.35 |
|
Caribou |
Caribou |
732.0 |
734.3 |
2.3 |
8.52 |
|
Caribou |
Caribou |
|
including |
732.7 | 733.5 | 0.8 | 18.0 | |||
WST-20-0480B |
138.1 |
140.8 |
2.7 |
25.3 |
|
Z27 |
Zone 27 |
including |
139.0 | 140.0 | 1.0 | 53.5 | |||
WST-20-0559A |
118.0 |
120.3 |
2.3 |
3.68 |
|
Bobcat |
Bobcat |
WST-21-0668 |
95.0 |
97.0 |
2.0 |
85.0 |
20.0 |
Bobcat |
Bobcat |
including |
95.8 | 96.2 | 0.4 | 425 | 100 | ||
WST-21-0669 |
64.9 |
66.9 |
2.0 |
4.36 |
|
Bobcat |
Bobcat |
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-20-2374 |
340 | -52 | 138 | 452720 | 5434747 | 397 | 2850 |
OSK-W-20-2388 |
326 | -61 | 699 | 452715 | 5434606 | 397 | 2775 |
OSK-W-20-2399-W2 |
333 | -54 | 876 | 452875 | 5434553 | 398 | 2875 |
OSK-W-20-2405-W1 |
332 | -58 | 716 | 452694 | 5434440 | 401 | 2675 |
OSK-W-20-2410-W2 |
338 | -62 | 774 | 452727 | 5434358 | 402 | 2650 |
OSK-W-20-2415 |
328 | -54 | 755 | 452739 | 5434475 | 401 | 2725 |
OSK-W-20-2423 |
332 | -60 | 1326 | 452616 | 5434449 | 403 | 2600 |
OSK-W-20-2425 |
336 | -60 | 747 | 452715 | 5434606 | 397 | 2775 |
OSK-W-20-2430 |
150 | -45 | 360 | 452601 | 5436048 | 404 | 3375 |
OSK-W-20-2433 |
148 | -47 | 411 | 452559 | 5436072 | 405 | 3350 |
OSK-W-21-2442 |
347 | -53 | 1053 | 452315 | 5434419 | 399 | 2325 |
OSK-W-21-2442-W1 |
347 | -53 | 1011 | 452315 | 5434419 | 399 | 2325 |
OSK-W-21-2455 |
328 | -53 | 780 | 452738 | 5434476 | 401 | 2725 |
OSK-W-21-2460-W1 |
332 | -55 | 795 | 452732 | 5434536 | 399 | 2750 |
OSK-W-21-2462-W1 |
338 | -57 | 855 | 452875 | 5434553 | 398 | 2875 |
OSK-W-21-2463 |
339 | -65 | 1335 | 452616 | 5434449 | 403 | 2600 |
OSK-W-21-2476 |
337 | -58 | 879 | 452840 | 5434569 | 398 | 2850 |
OSK-W-21-2483 |
328 | -58 | 756 | 452731 | 5434634 | 397 | 2800 |
OSK-W-21-2490 |
338 | -61 | 786 | 452756 | 5434465 | 401 | 2725 |
WST-20-0480B |
143 | -51 | 382 | 452281 | 5434975 | 262 | 2575 |
WST-20-0559A |
143 | 3 | 145 | 452955 | 5435003 | 254 | 3175 |
WST-21-0600 |
97 | -20 | 172 | 452819 | 5434944 | 274 | 3025 |
WST-21-0668 |
142 | -20 | 148 | 452817 | 5434943 | 274 | 3025 |
WST-21-0669 |
140 | -4 | 142 | 452817 | 5434944 | 274 | 3025 |
Caribou Zone
Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.
Zone 27
Mineralization most commonly occurs as replacement-type characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, local quartz-carbonate veins, and local visible gold. Mineralization is associated with moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite and is hosted in strongly altered andesites, in or at the contact of the rhyolite, or along the contacts with felsic porphyritic intrusions.
F-Zone
Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or as replacement type in shear zones and is characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.
Bobcat
Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.
Underdog
Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated, stringer, semi-massive to massive pyrite with minor sphalerite, chalcopyrite and molybdenite associated with strong sericite and silica alteration. Mineralization is hosted along the intrusive contacts of a three-phase composite felsic porphyritic unit which cross-cuts felsic and mafic volcanic sequences.
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Director of Exploration for Osisko’s Windfall gold project, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).
Quality Control and Reporting Protocols
True
width
determination
is
estimated
at
55-80%
of
the
reported
core
length
interval
for
the
zone.
Assays
are
uncut
except
where indicated. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. Reported intervals include minimum weighted averages of 3.0 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays were obtained by either 1-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d’Or, Québec, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (ii) Bureau Veritas in Timmins, Ontario. The 1-kilogram screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. Selected samples are also analyzed for multi-elements, including silver, using a Four Acid Digestion-ICP-MS method at ALS Laboratories. Drill program design, Quality Assurance/Quality Control (“QA/QC”) and interpretation of results is performed by qualified persons employing a QA/QC program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for QA/QC purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assay.
About the Windfall Gold Deposit
The Windfall gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The mineral resource defined by Osisko, as disclosed in the news release dated February 17, 2021 and
supported by the technical report entitled “Mineral Resource Estimate Update for the Windfall Project, Eeyou Istchee James Bay, Québec, Canada” dated March 8, 2021 (with an effective date of November 30, 2020), and
assuming a cut-off grade of 3.50 g/t Au,
comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category
. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is available on SEDAR (www.sedar.com) under the Corporation’s issuer profile. The Windfall gold deposit is currently one of the highest-grade resource-stage gold projects in Canada and has world-class scale. Mineralization occurs
in
three
principal
zones:
Lynx,
Main Zone,
and
Underdog.
Mineralization is generally
comprised of
sub-vertical
zones
following
intrusive porphyry
contacts
plunging
to
the
northeast.
The r
esources 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.
T
he deposit
remains
open along
strike
and
at
depth
.
Mineralization
has
been
identified
at
surface
in
some
areas
and
as
deep
as
2,625
metres in others with significant potential to extend mineralization down-plunge and at
depth.
About Osisko Mining Inc.
Osisko is a mineral exploration company focused on the acquisition, exploration, and development of gold resource properties in Canada. Osisko holds a 100% interest in the high-grade Windfall gold deposit located between Val-d’Or and Chibougamau
in
Québec
and
holds
a
100%
undivided
interest
in
a
large
area
of
claims
in
the
surrounding
Urban
Barry
area and nearby Quévillon area (over 2,700 square
kilometres).
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward-looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains the forward-looking information pertaining to, among other things: the Windfall gold deposit being one of the highest-grade resource-stage gold projects in Canada and having world-class scale; the key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; the significance of historic exploration activities and results. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Osisko to complete further exploration activities, including (infill) drilling; property and royalty interests in the Windfall gold deposit; the ability of the Corporation to obtain required approvals; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Osisko cannot assure shareholders and prospective purchasers of securities of the Corporation that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Osisko nor any other person assumes responsibility for the accuracy and completeness of any such forward-looking information. Osisko does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
CONTACT INFORMATION:
John Burzynski
Chief Executive Officer
Telephone (416) 363-8653