Jannah Theme License is not validated, Go to the theme options page to validate the license, You need a single license for each domain name.
Business

Osisko finds Lynx 4 high-grade extension in 625m plunge, The Canadian Business Journal

The intercept confirms the potential for significant expansion of windfall
81.8 g/t Au over 3.5 meters. 22.3 g/t Au (over 4.1 meters)

TORONTO, Sept. 27, 2022 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX; “Osisko” or “Inc.”) announced new exploration results from the 100% owned Windfall gold project in Abitibi Greenstone. We are pleased to offer Belt, Urban Township, Eyou Istochy James Bay, Quebec.

Hall OSK-22-1109-W2 targeted Lynx 4’s protruding downward plunge extension at a vertical depth of 1,670 meters below the surface. The hole successfully intercepted a significant breadth of high-grade gold mineralization. 81.8 g/t Au at 3.5 meters (2.39 ounces per tonne at 11.5 feet) When 22.3 g/t Au over 4.1 meters (0.65 oz per ton over 13.4 feet). These intercepts confirm the major downplunging expansion potential of the Lynx 4 high grade zone. This could have significant implications for potential future expansion of the Windfall deposit.

The new intercept is 625 meters (2,050 feet) below the nearest resource block (Lynx 4 wireframe 3449) and is included in Windfall’s latest Mineral Resource Estimate (“MRE”) (see Windfall MRE (2022) reference) (defined here). The technical report was submitted to SEDAR (www.sedar.com) by Osisko on September 14, 2022 under Osisko’s issuer profile. The new mineralization is typical of Lynx 4 wireframe 3449 and includes disseminated pyrite associated with strong widespread silica alteration hosted in sericitic gabbro, with locally visible gold. Contains

Osco’s CEO, John Verzinski, commented: With the recent on-time delivery of Windfall MRE (based on approximately 1.7 million meters of drilling since 2015), we are focused on completing a final feasibility study with on-time delivery by the end of this year. Today’s downplunge results highlight the consistency and predictability of the geological model he developed for Windfall over the past six years and strongly point to much larger deposits. The addition of 625 meters in length to one of the highest grade Lynx 4 zones is a significant opportunity for Windfall to move to the top of its class compared to other important Canadian long-lived high grade gold deposits. It shows that there is a ”

A map showing the hole locations and full analysis results is available at: www.osiskomining.comMaps: 20220927_Lynx 4_EXT_EN MRE, 20220927_Lynx 4_EXT_EN plan, 20220927_Lynx 4_EXT_EN long section, PR_EN_20220927_Surface.

exploration drilling

hole number from
(Moon)
To
(Moon)
interval
(Moon)
Gold (g/t)
uncut
Gold (g/t)
cut into
100 grams/ton
zone hall
OSK-W-22-1109-W2 1993.0 1997.1 4.1 22.3 19.6 LX4-3449 Lynx 4
include 1993.4 1994.0 0.6 119 100
2001.8 2005.3 3.5 81.8 31.0 LX4-3449 Lynx 4
include 2004.4 2005.3 0.9 298 100
OSK-W-19-1992-W1* 1708.4 1714.3 5.9 14.3 Lynx 4 Lynx 4
OSK-W-20-2251-W1** 2112.0 2114.0 2.0 8.45 Lynx 4 Lynx 4

NOTE: The true width is estimated to be 55–80% of the reported core length interval.look “Quality Control and Reporting Protocol” under. *See Osisko news released on October 21, 2019. ** See Osisko news release dated January 11, 2021.

Drill hole position

hole number Azimuth (°) dip (°) Length (m) UTM E UTMN elevation section
OSK-W-22-1109-W2 131 -56 2100 454385 5436238 402 5025
OSK-W-19-1992-W1 106 -61 1875 454007 5436004 401 4575
OSK-W-20-2251-W1 96 -53 2278 453262 5435936 407 3900

Lynx Zone

Mineralization occurs as gray to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite displacement zones and stockwork. Vein-type mineralization is associated with extensive halos of sericite-pyrite±silica alterations, with sulfides (mainly chalcopyrite and minor chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and locally visible gold. Displacement mineralization is associated with strong penetrating silica-sericite-ankerite ± tourmaline alterations, containing traces to 80% sporadic pyrite and locally visible gold. Pyrite stockwork can form envelopes reaching tens of meters thick. Fuchsite alteration is common and spatially restricted to near gabbros. Mineralization occurs at or near geological contacts between felsic porphyritic or fragmentary intrusions and host rhyolites or gabbros and is localized along gabbro-rhyolite contacts. may be hosted on

qualified person
The scientific and technical content of this news release was reviewed, prepared and approved by Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Osisko, he is the Exploration Officer for the Windfall Gold Project and is a “Qualified Person” within the meaning of State Document 43-101 – Disclosure Standards for Mineral Projects (“NI 43-101”).

Quality control and reporting protocol
truth width decision teeth Estimate and 55-80% of of report core length interval for of zone. assay that is uncut to exclude where indicated. Intercepts occur within the geological extent of major zones, but are not currently associated with individual venous domains. Reported intervals include a minimum weighted average of 3.5 g/t Au diluted over a core length of at least 2.0 meters. NQ core assays were obtained by either a 1-kilogram screen fire assay or a standard 50-gram fire assay – AA finish or gravimetric finish. Or Vientiane, Laos. (ii) Bureau Veritas located in Timmins, Ontario; If the sample contains coarse gold, or if there is a higher percentage of pyrite than the surrounding interval, the geologist he chooses the 1-kilogram screen assay method. Selected samples are also analyzed for multiple elements, including silver, using ALS Laboratories’ Four Acid Digestion-ICP-MS method. Drilling program design, quality assurance/quality control (“QA/QC”), and interpretation of results are performed by a qualified individual who employs his QA/QC program in compliance with NI 43-101 and industry best practices will be Standards and blanks are included every 20 samples for his QA/QC purposes by the company and lab. Approximately 5% of the sample pulp is sent to a secondary laboratory for check assays.

About Windfall Gold Deposit
The Windfall gold deposit is located between Valdor and Chibgamau in the Abitibi region of Quebec, Canada. His MRE in Windfall Technical Report entitled “Windfall Project Mineral Resource Estimate Update” dated 14 September 2022 (effective date 7 June 2022) (“Windfall MRE (2022)”); Assuming a cutoff grade of 3.50 g/t Au, 811,000 tons at 11.4 g/t Au (297,000 oz) in the Measured Mineral Resource categories, 10,250,000 tons at 11.4 g/t Au (3,754,000 oz) in the Mineral Resource categories indicated, and 8.4 g/t Au (3,337,000 oz) at 12,287,000 tonnes) in the Estimated Mineral Resource CategoryThe key assumptions, parameters, and methods used to estimate Windfall’s MRE are further discussed in Windfall MRE (2022), a complete technical report for this updated MRE prepared in accordance with NI 43-101. and SEDAR (www .sedar.com) is under Osisko’s issuer profile. The Windfall gold deposit is currently one of Canada’s highest grade resource-stage gold projects and has world-class scale. Calcification occurs in three main areas: lynx, main, and underdog. Calcification generally consists of a quasi-vertical lens following contact of intrusive porphyry plunging to the northeast. Resources are defined from the surface to a depth of 1,600 meters, including the triple eight (TP8) zone. Resources, except TP8, are defined from the surface to a depth of 1,200 meters. The deposit remains open at depth along the strike. Mineralization has been identified at the surface in some areas and down to depths of 2,625 meters in others, making it very likely that mineralization extends downplunging and at depth.

About Osico Mining
Osisko is a mineral exploration company focused on the acquisition, exploration and development of Canada’s precious metal resource properties. Osisko owns a 100% interest in the high-grade Windfall gold deposit located between Val d’Or and Sibgamau in Quebec, and owns large claims around the Urban Valley area and in the nearby Kebillon area. Holds 100% undivided interest (over 2,400 square kilometers).

Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws that are based on expectations, estimates, projections and interpretations as of the date of this news release. Any statements involving projections, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (may use phrases such as “expect”, “not expect”, “expect”) (often but not always), “interpreted”, “management’s view”, “expected” or “not predicted”, “planned”, “budget”, “scheduled”, “forecast” , “estimate”, “likely”, “feasibility”, “believe” or “intend”, or variations of such words or phrases, or that a particular action, event, or outcome is “possible” statements of historical fact and forward-looking statements It may be informational and is intended to identify forward-looking information. This news release contains, among other things, the following forward-looking information: The Windfall gold deposit is one of Canada’s finest resource-stage gold projects and has world-class scale. Importance of Lynx 4 high-grade extensions. The importance of the resources mentioned here. Potential to expand Windfall beyond currently known deposits. Scientific and technical information not supported by Windfall MRE (2022); key assumptions, parameters, and methods used to estimate the MRE disclosed in this news release. Osisko’s timing and ability to announce a feasibility study for the Windfall gold deposit, if any. The amount and type of drilling to complete, and when to complete drilling. Focus of remaining infill excavation. Grade-up trend; lynx zone remains open to growing plunge. Upgrades an inferred Mineral Resource to a Measured Mineral Resource or a specified Mineral Resource category. Future drilling at the Windfall gold deposit. Significance of historical exploration activities and results. Such factors include, among other things, the risks associated with the ability of exploration activities (including drilling results) to accurately predict mineralization. Errors in management’s geological modeling. Osisko’s ability to complete further exploration activities, including (infill) drilling. Windfall gold deposit property and royalty interest. The company’s ability to obtain the required approvals. results of exploration activities; risks associated with mining activities; global economic conditions; metals prices; dilution; environmental risks; Although forward-looking information contained in this news release is based on what management believes to be, or believed to be, reasonable assumptions at the time, Osisko does not assume any No guarantee can be given to the purchaser that actual results will match such future results. Neither Osisko nor any other person assumes responsibility for the accuracy and completeness of such forward-looking information, as there could be other factors that could cause unanticipated, estimated or intended results to be achieved. We do not owe. Osisko does not undertake, and does not undertake, to update or revise any forward-looking statements or forward-looking information contained herein to reflect new events or circumstances, except as required by law. I don’t owe you either.

contact address:
John Berzinski
Chief executive officer
Phone (416) 363-8653


CBJ Newsmaker

Osisko finds Lynx 4 high-grade extension in 625m plunge, The Canadian Business Journal

Source link Osisko finds Lynx 4 high-grade extension in 625m plunge, The Canadian Business Journal

Related Articles

Back to top button