Osisko Windfall Infill Drilling: Still Good



New Intercepts Include 206 g/t Au over 2.0 Metres


TORONTO, Jan. 06, 2021 (GLOBE NEWSWIRE) — 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



Primary Logo