Osisko Intersects 202 g/t Au Over 9.0 Metres at Windfall

TORONTO, Aug. 10, 2020 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Corporation”) is pleased to provide new analytical results from the ongoing definition and expansion drill program at its 100% owned Windfall gold project located in the Abitibi greenstone belt, Urban Township, Eeyou Istchee James Bay, Québec.

Drill hole OSK-W-20-2059-W4 returned an outstanding intercept averaging 202 g/t Au over 28 metres core length in Lynx 4 (202 g/t Au over 9.0 metres estimated true width). This drill hole intercepted the mineralized zone at a lower than usual core angle (20 degrees), resulting in an estimated true width of approximately 30% of the core length. The interval expands the Lynx 348 Wireframe by 25 metres to the southwest.

Osisko President and Chief Executive Officer John Burzynski commented: “Lynx has once again delivered very impressive results, giving us one of the highest-grade intercepts in our drilling to date.  Our infill drill program continues to highlight the high-grade continuity within the resource area, which remains open down plunge and importantly, towards surface.”

Significant new analytical results from 64 intercepts in 20 new drill holes and 12 wedges are presented below, including:  171 g/t Au over 2.5 metres in WST-20-0463; 173 g/t Au over 2.0 metres in OSK-W-20-2139-W8; 21.0 g/t Au over 13.0 metres in OSK-W-2256-W1; and 52.7 g/t Au over 2.2 metres  in WST-20-0447.  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-20-1741-W3 696.0 698.0 2.0 3.97   Lynx_336 Lynx
  968.0 970.0 2.0 6.12   Lynx_329 Lynx
  1080.9 1083.1 2.2 20.7   Lynx_312 Lynx
including 1082.0 1083.1 1.1 35.8  
OSK-W-20-2059-W4 993.5 995.6 2.1 3.14   Lynx_327 Lynx
including 994.2 994.5 0.3 18.0  
  1037.5 1066.1 28.0 202  31.0 Lynx_348

 

Lynx

 

including 1043.3 1043.6 0.3 102 100
 including 1049.4 1049.7 0.3 674 100
including 1049.7 1050.0 0.3 9830 100
including 1050.0 1050.8 0.8 152 100
including 1051.7 1052.5 0.8 468 100
including 1054.6 1055.0 0.4 157 100
including 1055.0 1056.0 1.0 103 100
including 1058.1 1058.5 0.4 216 100
including 1058.5 1059.1 0.6 307 100
including 1062.5 1063.1 0.6 1785 100
including 1063.1 1064.0 0.9 256 100
OSK-W-20-2139-W8 918.7 920.7 2.0 22.3 20.2 Lynx_371 Triple Lynx
including 919.6 919.9 0.3 114 100
  931.5 933.7 2.2 4.90   Lynx_371 Triple Lynx
  940.7 942.7 2.0 4.31   Lynx_361 Triple Lynx
including 940.7 941.0 0.3 12.3  
  957.0 962.3 5.3 8.62   Lynx_368 Triple Lynx
including 957.7 958.0 0.3 49.1  
  967.3 970.4 3.1 8.51   Lynx_363 Triple Lynx
including 969.6 970.1 0.5 21.9  
  1002.0 1004.0 2.0 173 57.3 Lynx_369 Triple Lynx
including 1003.6 1004.0 0.4 677 100
  1030.1 1033.0 2.9 5.17   Lynx_369 Triple Lynx
  1037.6 1039.6 2.0 4.21   Lynx_369 Triple Lynx
OSK-W-20-2139-W9 543.5 545.7 2.2 20.3   Triple Lynx Triple Lynx
including 544.0 544.7 0.7 63.5  
  949.0 951.0 2.0 5.72   Lynx_364 Triple Lynx
including 949.0 949.5 0.5 14.1  
OSK-W-20-2217-W2 546.0 548.0 2.0 11.7   Lynx_365 Triple Lynx
including 546.0 547.0 1.0 23.4  
OSK-W-20-2250-W3 765.0 767.0 2.0 28.4 24.5 Lynx_363 Triple Lynx
including 765.5 765.8 0.3 126 100
OSK-W-20-2252-W1 828.0 830.0 2.0 3.48   Lynx_371 Triple Lynx
including 828.9 829.2 0.3 19.1  
  874.1 876.2 2.1 4.21   Lynx_361 Triple Lynx
  892.0 894.0 2.0 3.60   Lynx_361 Triple Lynx
  987.9 990.0 2.1 3.29   Lynx_369 Triple Lynx
including 988.5 989.0 0.5 8.49  
OSK-W-20-2256 844.0 846.5 2.5 4.24   Lynx_371 Triple Lynx
OSK-W-20-2256-W1 855.0 868.0 13.0 21.0 17.0 Lynx_361 Triple Lynx
including 862.5 863.2 0.7 174 100
  947.0 949.0 2.0 15.3   Lynx_375 Triple Lynx
including 947.0 948.0 1.0 29.7  
OSK-W-20-2260-W1 891.0 893.0 2.0 32.3   Lynx_363 Triple Lynx
including 891.9 892.6 0.7 86.1  
  1098.0 1100.3 2.3 7.30   Lynx_374 Triple Lynx
including 1099.3 1100.3 1.0 13.3  
OSK-W-20-2260-W2 882.0 884.0 2.0 3.03   Lynx_363 Triple Lynx
OSK-W-20-2266-W1 939.6 942.3 2.7 4.99   Lynx_370 Triple Lynx
OSK-W-20-2266-W2 731.9 742.7 10.8 9.07   Lynx_361 Triple Lynx
including 736.9 738.0 1.1 35.3  
  774.0 776.0 2.0 8.57   Lynx_363 Triple Lynx
including 775.0 775.3 0.3 41.5  
OSK-W-20-2270 596.0 598.0 2.0 5.99   Lynx_356 Lynx
including 597.0 597.5 0.5 23.0  
OSK-W-20-2272 568.5 570.5 2.0 4.65   Lynx_356 Lynx
including 569.5 569.9 0.4 21.4  
WST-20-0342A 551.0 553.6 2.6 4.60   Lynx_313 Lynx
including 553.1 553.6 0.5 17.9  
  565.3 568.0 2.7 3.77   Lynx_340 Lynx
including 565.3 565.6 0.3 20.1  
WST-20-0446 209.0 211.5 2.5 10.0   Lynx_341 Lynx
including 211.1 211.5 0.4 38.3  
WST-20-0447 53.6 55.6 2.0 3.63   Lynx_311 Lynx
  66.8 68.8 2.0 8.47   Lynx_311 Lynx
including 68.0 68.3 0.3 48.9  
  113.2 115.4 2.2 52.7 48.5 Lynx_323 Lynx
including 114.2 114.5 0.3 131 100
  129.4 133.0 3.6 11.2   Lynx_304 Lynx
including 129.4 130.0 0.6 40.9  
and 132.7 133.0 0.3 48.7  
  497.4 499.5 2.1 13.4   Lynx_313 Lynx
including 498.8 499.5 0.7 38.9  
  528.0 530.4 2.4 4.92   Lynx_329 Lynx
WST-20-0453 134.9 136.9 2.0 13.0   Lynx_301 Lynx
including 136.6 136.9 0.3 76.2  
  151.3 153.5 2.2 13.8   Lynx_315 Lynx
including 152.4 153.0 0.6 49.9  
WST-20-0454 137.0 139.5 2.5 4.31   Lynx_301 Lynx
including 138.0 138.6 0.6 16.7  
WST-20-0455 140.9 143.6 2.7 5.79   Lynx_301 Lynx
WST-20-0456 145.0 147.0 2.0 7.75   Lynx_301 Lynx
including 145.8 146.6 0.8 19.2  
WST-20-0458 166.3 169.0 2.7 14.9   Lynx_301 Lynx
including 167.0 167.6 0.6 47.7  
WST-20-0459 53.7 56.1 2.4 43.1 37.9 Lynx_339 Lynx
including 53.7 54.6 0.9 114 100
  83.3 86.8 3.5 10.8   Lynx_307 Lynx
including 83.3 84.1 0.8 29.8  
WST-20-0460 217.0 219.0 2.0 3.52   Lynx_321 Lynx
  234.6 238.0 3.4 12.9   Lynx_301 Lynx
including 235.6 236.0 0.4 72.9  
WST-20-0461 163.6 166.0 2.4 30.0   Lynx_304 Lynx
including 164.6 165.4 0.8 89.1  
  171.3 174.0 2.7 5.60   Lynx_304 Lynx
including 171.3 171.9 0.6 18.8  
  192.8 195.0 2.2 3.96   Lynx_341 Lynx
WST-20-0463 52.7 55.0 2.3 4.90   Lynx_311 Lynx
including 52.7 53.0 0.3 10.1  
and 54.0 54.3 0.3 20.8  
  100.0 102.5 2.5 171 40.2 Lynx_323 Lynx
including 100.0 101.0 1.0 427 100
  119.8 121.8 2.0 9.08   Lynx_304 Lynx
including 119.8 120.6 0.8 22.5  
  436.3 438.3 2.0 24.5 15.5 Lynx_347 Lynx
including 437.4 437.7 0.3 160 100
  469.9 473.8 3.9 9.07   Lynx_313 Lynx
including 469.9 470.8 0.9 19.0  
and 472.4 472.9 0.5 23.1  
WST-20-0464 133.0 135.2 2.2 5.33   Lynx_321 Lynx
including 133.0 133.3 0.3 33.1  
WST-20-0465 135.0 137.0 2.0 9.56   Lynx_301 Lynx
including 136.6 137.0 0.4 44.5  
WST-20-0466 138.7 141.0 2.3 5.17   Lynx_301 Lynx
WST-20-0467 160.0 162.0 2.0 11.0   Lynx_315 Lynx
including 161.0 162.0 1.0 21.8  
WST-20-0469 136.0 138.4 2.4 13.4   Lynx_301 Lynx

Notes: True widths are estimated at 30 – 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-20-1741-W3 144 -48 1098 453328 5435466 406 3725
OSK-W-20-2059-W4 131 -52 1092 453446 5435477 400 3825
OSK-W-20-2139-W8 115 -52 1125 452980 5435549 420 3450
OSK-W-20-2139-W9 115 -52 1152 452980 5435549 420 3450
OSK-W-20-2217-W2 134 -48 893 452943 5435566 419 3425
OSK-W-20-2250-W3 132 -57 1170 453128 5435505 420 3575
OSK-W-20-2252-W1 129 -54 1119 453241 5435694 415 3750
OSK-W-20-2256 125 -51 1179 453160 5435686 414 3675
OSK-W-20-2256-W1 125 -51 1101 453160 5435686 414 3675
OSK-W-20-2260-W1 127 -48 1140 453199 5435669 413 3700
OSK-W-20-2260-W2 127 -48 1191 453199 5435669 413 3700
OSK-W-20-2266-W1 128 -55 1116 453069 5435476 418 3500
OSK-W-20-2266-W2 128 -55 1131 453069 5435476 418 3500
OSK-W-20-2270 133 -53 774 452972 5435211 416 3275
OSK-W-20-2272 149 -45 1004 452967 5435264 412 3300
WST-20-0342A 116 -47 679 453452 5435266 115 3725
WST-20-0446 115 -49 613 453452 5435265 114 3725
WST-20-0447 128 -48 657 453411 5435230 113 3675
WST-20-0453 139 13 172 453494 5435287 118 3775
WST-20-0454 135 19 181 453493 5435287 118 3775
WST-20-0455 138 28 192 453493 5435287 119 3775
WST-20-0456 129 24 193 453494 5435287 119 3775
WST-20-0458 112 14 204 453495 5435287 118 3775
WST-20-0459 153 -47 579 453227 5435126 135 3475
WST-20-0460 126 -33 295 453494 5435287 116 3775
WST-20-0461 115 -45 622 453452 5435265 114 3725
WST-20-0463 137 -43 552 453411 5435230 113 3675
WST-20-0464 138 3 171 453494 5435287 118 3775
WST-20-0465 147 7 184 453494 5435287 117 3775
WST-20-0466 131 9 183 453494 5435287 118 3775
WST-20-0467 147 -1 193 453494 5435287 117 3775
WST-20-0469 149 15 184 453494 5435287 118 3775

Lynx Zone
Gold mineralization in the Lynx Zone occurs as two types: 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, pyrite dominated with minor chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite, ranging from trace to up to 70% locally, and local visible gold. Replacement-type 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. Both types of mineralization are 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
Gold 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 30-80% 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 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
President & Chief Executive Officer
Telephone (416) 363-8653

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