Osisko Intersects 936 g/t Au Over 2.5 Metres At Windfall
New Bonanza Grade Intercepts in Caribou and 27 Zones Discovery of New Shallow Mineralized Zone – Lynx 3
(Montréal, May 3, 2017) Osisko Mining Inc. (OSK:TSX, “Osisko” or the “Corporation”) is pleased to announce new results from the ongoing drill program at its 100% owned Windfall Lake gold project located in Urban Township, Québec. The current 400,000 metre drill program combines definition drilling above the Red Dog intrusion (“Red Dog”), expansion drilling above and below Red Dog, expansion drilling to the NE of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area. Significant new analytical results from eight drill holes focused on infill and expansion drilling in the Caribou, 27, Underdog and Lynx zones are reported in the table below.
Highlights from the new results include: 936 g/t Au over 2.5 metres (32.1 g/t Au over 2.5 metres cut to 100 g/t), including an interval of 4.6 kilograms/t Au over 0.5 metres in hole OSK-W-17-820; 195 g/t Au over 2.6 metres (16.7 g/t Au over 2.6 metres cut to 100 g/t), including an interval of 1.26 kilograms/t Au over 0.4 metres in hole OSK-17-824; 26.0 g/t Au over 2.5 metres (14.0 g/t Au over 2.5 metres cut to 100 g/t) in hole OSK-17-812; 19.2 g/t Au over 2.0 metres in hole OSK-17-807; and 14.1 g/t Au over 2.3 metres in hole OSK-17-832. Maps showing drill 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-17-820 | 616.5 | 619 | 2.5 | 936 | 32.1 | CS1 | Caribou |
| including | 616.5 | 617.5 | 1.0 | 29.3 | |||
| including | 618.5 | 619.0 | 0.5 | 4620 | 100 | ||
| OSK-W-17-824 | 28.4 | 31.0 | 2.6 | 195 | 16.7 | PyVN | 27 |
| including | 29.6 | 30.0 | 0.4 | 1260 | 100 | ||
| OSK-W-17-812 | 298.5 | 301.0 | 2.5 | 26.0 | 14.0 | Lynx 2 | Lynx |
| including | 299.7 | 300.0 | 0.3 | 200 | 100 | ||
| OSK-W-17-832 | 85.0 | 87.3 | 2.3 | 14.1 | Lynx 3 | Lynx | |
| including | 85.8 | 86.6 | 0.8 | 38.9 | |||
| OSK-W-17-816 | 670.0 | 672.8 | 2.8 | 5.24 | Lynx 1 | Lynx | |
| including | 672.4 | 672.8 | 0.4 | 14.7 | |||
| OSK-W-17-827 | 381.0 | 383.0 | 2.0 | 5.84 | Lynx 1 | Lynx | |
| OSK-W-17-817 | 273.3 | 275.3 | 2.0 | 4.4 | Lynx 2 | Lynx | |
| including | 273.3 | 273.7 | 0.4 | 14.0 | |||
| OSK-W-17-807 | 623.5 | 626.5 | 3.0 | 3.89 | FW0 | Underdog | |
| 715.5 | 717.5 | 2.0 | 19.2 | FW1 | Underdog | ||
| including | 715.5 | 716.0 | 0.5 | 51.5 |
Notes:
- True Widths are estimated at 65 – 80% of the reported core length interval. See “Quality Control” below.
- Definitions: FW = foot wall; VNCR = crustiform vein; PyVN = pyrite vein
| Hole Number | Azimuth (°) |
Dip (°) |
Length (m) |
UTM E | UTM N | Section |
| OSK-W-17-807 | 329.7 | -65.2 | 1171.5 | 452311 | 5434424 | 2325 |
| OSK-W-17-812 | 330.2 | -64.8 | 379.2 | 453461 | 5435034 | 3625 |
| OSK-W-17-816 | 147.1 | -69.1 | 1051.5 | 453469.6 | 5435215.2 | 3722 |
| OSK-W-17-817 | 144.7 | -60.4 | 821.8 | 453334 | 5435231.2 | 3609 |
| OSK-W-17-820 | 333 | -65.2 | 1105.5 | 452669 | 5434484 | 2667 |
| OSK-W-17-824 | 330.2 | -67.2 | 220.0 | 451948 | 5434608 | 2099 |
| OSK-W-17-827 | 144.9 | -63.2 | 957.0 | 453173 | 5435126 | 3418 |
| OSK-W-17-832 | 145.5 | -54.5 | 573.0 | 453332 | 5435229 | 3609 |
Caribou Corridor
OSK-W-17-820 is an infill hole testing the CS1 Zone which returned 936 g/t Au over 2.5 metres ( 32.1 g/t Au over 2.5 metres cut to 100 g/t); the interval contains a bonanza grade intercept of 4.62 kilograms/t Au over 0.5 metres. Mineralization consists of 3 to 4% pyrite in stringers hosted in a strongly bleached andesitic rock. Visible gold was observed in a carbonate-chlorite vein. This interval is located 90 metres East from previously reported hole OSK-W-17-766-W1 which returned 15.6 g/t Au over 5.8 metres.
Zone 27 Corridor
OSK-W-17-824 tested the Zone 27 Corridor intersecting 195 g/t Au over 2.6 metres (16.7 g/t Au over 2.6 metres cut to 100 g/t); the interval contains a bonanza grade intercept of 1.26 kilograms/t Au over 0.4 metres in a semi-massive pyrite vein containing local visible gold. The vein is injected at the contact between a porphyry dike and an andesitic rock. This high grade interval is located 50 metres from the main Zone 27 and represents a new extension of the zone.
Lynx Corridor
OSK-W-17-812 returned 26 g/t Au over 2.5 metres (14.0 g/t Au over 2.5 metres cut to 100 g/t) and includes an interval of 200 g/t Au over 0.3 metres. This new intercept is located in the Lynx 2 Zone. Mineralization is composed of up to 3% pyrite stringers with local visible gold hosted in a smoky quartz vein.
OSK-W-17-832 intersected a new zone of mineralization (“Lynx 3”) in the Lynx Corridor, returning 14.1g/t Au over 2.3 metres including 38.9 g/t Au over 0.8 metres. This new zone is located 80 metres NW of the Lynx 2 zone and consists of 6-8% pyrite stringers and local visible gold.
OSK-W-17-816 intersected 5.24 g/t Au over 2.8 metres in a zone containing traces to 2% pyrite-tourmaline stringers associated with strong silica flooding. This interval is located 140 metres SE of the Lynx 1 Zone.
OSK-W-17-827 intersected 5.84 g/t Au over 2.0 metres from a crustiform vein containing up to 7% disseminated pyrite. The vein is hosted in a moderately and chloritized gabbro with fuchsite
OSK-W-17-817 returned 4.4 g/t Au over 2.0 metres from the Lynx 2 Zone. Mineralization consists of 2-5% pyrite stringers hosted in a chlorite-fuchsite altered andesitic rock.
Underdog Corridor
OSK-W-17-807 intersected two zones of mineralization, the first returning 3.89 g/t Au over 3.0 metres from FW0. Mineralization is composed of up to 10% pyrite stringers hosted in a moderately silicified fragmental porphyry dike. A second intercept returned 19.2 g/t Au over 2.0 metres from the FW1 Zone. Mineralization consists of up to 35% pyrite stringers to semi-massive pyrite. This interval is located 160 metres SW from previously reported OSK-W-16-735-W1 (8.70 g/t Au over 6.8 metres).
Qualified Person
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, P.Geo. (OGQ 800), Project Manager of the 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 determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val d’Or, Québec or Sudbury, Ontario. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All 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 and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and down-plunge and at depth.
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Louis Grenier, P.Geo. (OGQ 800), Project Manager of the 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 determinations are estimated at 65 – 80% true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of 2 metres using a lower cutoff of 3 g/t Au. All NQ core assays reported were obtained by either 1 kilogram whole rock metallic screen/fire assay or standard 50 gram fire-assaying with AA or gravimetric finish at ALS Laboratories in Val d’Or, Québec or Sudbury, Ontario. The 1 kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All 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 and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 43-101 and industry best practices. Standards and blanks are included with every 20 samples for Quality Assurance/Quality Control purposes by the Corporation as well as the lab. Approximately 5% of sample pulps are sent to secondary laboratories for check assays.About the Windfall Lake Gold Deposit
The Windfall Lake gold deposit is located between Val-d’Or and Chibougamau in the Abitibi region of Québec, Canada. The current mineral resource comprises 2,762,000 tonnes at 8.42 g/t Au (748,000 ounces) in the indicated category and 3,512,000 tonnes at 7.62 g/t Au (860,000 ounces) in the inferred category (sourced from a technical report dated June 10, 2015 entitled “Preliminary Economic Assessment of the Windfall Lake Gold Property, Québec, Canada” with an effective date of April 28, 2015, prepared in accordance with NI 43-101). The Windfall Lake gold deposit is currently one of the highest grade resource-stage gold projects in Canada. The bulk of the mineralization occurs in the Main Zone, a southwest/northeast trending zone of stacked mineralized lenses, measuring approximately 600 metres wide and at least 1,400 metres long. The deposit is well defined from surface to a depth of 500 metres, and remains open along strike and at depth. Mineralization has been identified only 30 metres from surface in some areas and as deep as 870 metres in others, with significant potential to extend mineralization up and 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% in the high-grade Windfall Lake 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 (82,400 hectares), a 100% interest in the Marban project located in the heart of Québec’s prolific Abitibi gold mining district, and properties in the Larder Lake Mining Division in northeast Ontario, including the Jonpol and Garrcon deposits on the Garrison property, the Buffonta past producing mine and the Gold Pike mine property. The Corporation also holds interests and options in a number of additional properties in northern Ontario. Osisko continues to be well financed with approximately $190 million in cash and investments.
For further information please contact:
John Burzynski, President and Chief Executive Officer
Telephone: (416) 363-8653
NT3
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