Business

Osisko Windfall Drilling Continues to Intercept High Grade, The Canadian Business Journal

TORONTO, Feb. 24, 2022 (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 128 intercepts in 54 drill holes (6 from surface, 48 from underground) and 20 wedges. The infill intercepts are located inside defined January 2022 mineral resource estimate (“MRE”) blocks (see Osisko news release dated January 10, 2022). The expansion intercepts are located outside the January 2022 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Today’s drill results reinforce Windfall’s strong upside. We continue to be successful with our expansion drilling as illustrated by four new intercepts which expand Triple Lynx wireframe 3172 100 meters to the east as well as our headline hole from the Lynx hanging wall area. Infill drilling is continuing to intercept grade and width where anticipated, with the purpose of converting inferred blocks to the measured and indicated categories in support of the feasibility study to be completed later this year.”

Selected high-grade intercepts include: 449 g/t Au over 2.3 metres in WST-21-0935; 56.5 g/t Au over 6.9 metres in OSK-W-21-1949-W13; 52.7 g/t Au over 6.5 metres in OSK-W-21-1963-W10; 124 g/t Au over 2.6 metres in OSK-W-21-2601 and 21.8 g/t Au over 8.9 metres in OSK-W-21-2540-W7. 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-21-1871-W1 498.4 500.4 2.0 13.1   CA2_2225 Caribou
including 499.0 499.4 0.4 65.3  
OSK-W-21-1949-W10 1073.0 1075.6 2.6 42.0 35.2 LX4_3430 Lynx 4
including 1073.8 1074.7 0.9 120 100
OSK-W-21-1949-W13 1081.5 1088.4 6.9 56.5 37.7 LX4_3404 Lynx 4
including 1081.5 1082.2 0.7 284 100
OSK-W-21-1949-W15 1095.5 1100.6 5.1 25.3 14.0 LX4_3404 Lynx 4
including 1096.5 1097.0 0.5 216 100
OSK-W-21-1949-W16 650.0 656.0 6.0 4.20   LXM_3353 Lynx
including 653.7 654.0 0.3 16.2  
  737.6 742.3 4.7 24.1   LXM_3345 Lynx
including 738.1 739.0 0.9 71.3  
OSK-W-21-1963-W10 1317.7 1324.2 6.5 52.7 40.1 LX4_3449 Lynx 4
including 1320.1 1321.1 1.0 182 100
OSK-W-21-2512-W3 667.4 669.4 2.0 8.09   UDD_4128 Underdog
including 668.3 668.6 0.3 17.5  
  748.0 750.0 2.0 4.74   UDD_4104 Underdog
including 748.0 748.4 0.4 22.0  
  774.0 776.1 2.1 9.36   UDD_4106 Underdog
including 775.7 776.1 0.4 47.0  
OSK-W-21-2531-W3 815.0 817.0 2.0 25.4   UDD_4135 Underdog
  820.3 826.0 5.7 9.27   UDD_4121 Underdog
including 820.3 820.8 0.5 51.4  
OSK-W-21-2544-W1 769.6 776.3 6.7 14.7   TLX_3171 Triple Lynx
including 771.7 772.0 0.3 55.0  
and 772.0 772.5 0.5 69.4  
OSK-W-21-2544-W3 767.3 770.4 3.1 16.7   TLX_3171 Triple Lynx
including 768.0 768.7 0.7 52.2  
OSK-W-21-2578 585.8 588.0 2.2 7.90   UDD_4128 Underdog
including 587.0 587.3 0.3 33.5  
OSK-W-21-2640-W1 649.2 652.0 2.8 4.85   CA2_2262 Caribou
OSK-W-21-2646 1046.4 1054.3 7.9 5.66   TLX_3158 Triple Lynx
including 1047.1 1048.0 0.9 13.8  
WST-21-0708 617.2 619.5 2.3 8.56   LX4_3448 Lynx 4
including 619.2 619.5 0.3 63.6  
WST-21-0878 184.4 186.5 2.1 15.7   TLX_3161 Triple Lynx
including 186.2 186.5 0.3 62.6  
  190.0 192.1 2.1 20.8   TLX_3161 Triple Lynx
including 191.6 192.1 0.5 87.3  
WST-21-0879 367.0 369.1 2.1 7.16   TLX_3167 Triple Lynx
WST-21-0881A 297.6 301.7 4.1 12.3 11.5 LSW_3556 Lynx SW
including 299.0 299.3 0.3 111 100
WST-21-0883 283.7 286.0 2.3 6.96   LSW_3500 Lynx SW
including 284.8 285.2 0.4 37.8  
WST-21-0894B 305.2 307.4 2.2 42.0 24.7 LSW_3501 Lynx SW
including 306.1 306.5 0.4 195 100
WST-21-0896 521.7 523.9 2.2 6.87   LX4_3450 Lynx 4
including 522.7 523.0 0.3 49.2  
WST-21-0897A 345.6 351.1 5.5 6.72   TLX_3131 Triple Lynx
including 350.3 351.1 0.8 22.5  
  522.0 524.4 2.4 4.06   LX4_3403 Lynx 4
including 522.0 522.4 0.4 20.7  
  545.0 547.0 2.0 16.9   LX4_3104 Lynx 4
  660.0 662.0 2.0 49.1 26.6 LX4_3448 Lynx 4
including 660.8 661.1 0.3 250 100
WST-21-0905C 323.0 325.0 2.0 27.9   TLX_3166 Triple Lynx
  464.7 466.8 2.1 7.18   LX4_3450 Lynx 4
including 464.7 465.1 0.4 21.9  
WST-21-0908C 529.5 531.7 2.2 30.3 19.0 LX4_3404 Lynx 4
including 530.0 530.4 0.4 163 100
  554.3 557.6 3.3 21.5 18.5 LX4_3430 Lynx 4
including 554.3 554.8 0.5 120 100
WST-21-0911 546.7 549.0 2.3 10.3   LX4_3430 Lynx 4
including 547.6 547.9 0.3 71.1  
WST-21-0912 497.0 499.0 2.0 6.09   LX4_3450 Lynx 4
including 497.4 498.0 0.6 19.8  
WST-21-0914 313.9 315.9 2.0 4.68   LSW_3556 Lynx SW
WST-21-0919 366.3 368.6 2.3 8.97   TLX_3167 Triple Lynx
including 368.0 368.6 0.6 33.6  
  425.6 427.8 2.2 8.84   TLX_3165 Triple Lynx
including 426.0 426.8 0.8 23.7  
WST-21-0924A 44.9 47.0 2.1 16.7   LXM_3303 Lynx
including 45.4 45.9 0.5 67.1  
  64.0 66.1 2.1 42.8 24.6 LXM_3336 Lynx
including 64.0 64.5 0.5 177 100
WST-21-0927 512.0 514.0 2.0 10.6   LX4_3450 Lynx 4
including 512.6 513.1 0.5 35.0  
  720.7 725.0 4.3 20.7   LX4_3412 Lynx 4
including 723.0 724.0 1.0 50.9  
WST-21-0928 264.4 266.8 2.4 9.03   TLX_3161 Triple Lynx
WST-21-0931 313.3 315.3 2.0 27.4   TLX_3131 Triple Lynx
  527.0 529.0 2.0 13.3   LX4_3450 Lynx 4
including 527.7 528.0 0.3 67.6  
WST-21-0932 204.8 207.8 3.0 49.9 36.8 LHW_3207 Lynx HW
including 207.1 207.8 0.7 156 100
WST-21-0933A 712.4 716.4 4.0 10.0   LX4_3412 Lynx 4
WST-21-0935 160.7 164.6 3.9 11.4   LXM_3388 Lynx
including 160.7 161.5 0.8 47.6  
WST-21-0936A 338.3 340.5 2.2 4.80   TLX_3133 Triple Lynx
including 339.6 340.5 0.9 11.3  
  436.5 439.5 3.0 3.96   TLX_3165 Triple Lynx
WST-21-0937 96.0 98.2 2.2 5.40   LXM_3371 Lynx
including 97.1 97.5 0.4 29.0  
WST-21-0943 302.8 305.0 2.2 7.80   TLX_3153 Triple Lynx
including 303.7 304.2 0.5 18.2  
WST-21-0946 326.0 330.1 4.1 20.4   TLX_3131 Triple Lynx
including 329.6 330.1 0.5 75.2  
WST-21-0948 454.9 457.0 2.1 5.64   LX4_3416 Lynx 4
WST-21-0957B 260.2 263.0 2.8 6.71   LHW_3203 Lynx HW
including 261.0 261.3 0.3 19.6  
and 261.7 262.0 0.3 14.4  
  276.0 281.0 5.0 4.51   LHW_3215 Lynx HW
including 280.0 281.0 1.0 11.1  
WST-21-0958A 518.6 520.6 2.0 20.1   LX4_3450 Lynx 4
including 518.6 519.3 0.7 57.3  
WST-21-0960 535.0 537.0 2.0 3.85   LX4_3404 Lynx 4
including 536.2 537.0 0.8 8.84  
  563.7 565.8 2.1 11.6   LX4_3430 Lynx 4
including 564.6 565.2 0.6 40.1  
  570.4 572.4 2.0 11.7   LX4_3430 Lynx 4
including 571.0 571.6 0.6 37.3  
WST-21-0962 80.8 83.0 2.2 6.54   LXM_3307 Lynx
including 81.5 81.8 0.3 47.4  
  466.0 468.0 2.0 10.7   LX4_3450 Lynx 4
including 466.6 466.9 0.3 59.3  
WST-21-0963 168.5 170.6 2.1 83.7 47.4 LXM_3388 Lynx
including 169.4 170.0 0.6 227 100
  468.1 470.1 2.0 10.7   LX4_3430 Lynx 4
including 469.0 469.5 0.5 25.5  
WST-21-0964 336.0 338.0 2.0 9.93   TLX_3131 Triple Lynx
WST-21-0965A 315.0 317.0 2.0 6.74   TLX_3131 Triple Lynx
WST-21-0968 194.2 196.2 2.0 4.64   TLX_3161 Triple Lynx
  217.0 219.0 2.0 4.21   TLX_3169 Triple Lynx
WST-21-0970 173.3 175.3 2.0 19.0   LXM_3388 Lynx
including 173.3 173.7 0.4 94.2  
  261.4 263.4 2.0 11.8   LHW_3224 Lynx HW
including 261.4 261.9 0.5 39.2  
WST-21-0971 58.5 61.0 2.5 5.56   LXM_3339 Lynx
  338.2 341.3 3.1 4.19   TLX_3166 Triple Lynx
WST-21-0979 201.0 203.0 2.0 15.6 15.3 TLX_3184 Triple Lynx
including 202.7 203.0 0.3 103 100
  231.4 235.6 4.2 5.40   TLX_3161 Triple Lynx
including 231.4 231.7 0.3 48.5  
WST-21-0980 180.5 182.6 2.1 10.1   TLX_3161 Triple Lynx
including 180.5 180.9 0.4 52.6  
  329.0 331.0 2.0 4.37   TLX_3131 Triple Lynx
including 329.8 330.2 0.4 15.9  
WST-21-0981 167.0 169.0 2.0 4.51   TLX_3161 Triple Lynx
WST-21-0983 205.0 207.2 2.2 4.21   TLX_3154 Triple Lynx
including 206.8 207.2 0.4 19.3  
  249.0 251.0 2.0 3.63   TLX_3161 Triple Lynx
WST-21-0987 46.3 48.8 2.5 6.65   TLX_3161 Triple Lynx
WST-21-0993 153.2 155.7 2.5 3.63   TLX_3184 Triple Lynx
including 155.4 155.7 0.3 8.11  
  177.5 180.7 3.2 4.62   TLX_3161 Triple Lynx
including 177.5 177.9 0.4 15.1  
and 180.0 180.7 0.7 11.5  
  215.0 217.0 2.0 4.71   TLX_3175 Triple Lynx
including 216.5 217.0 0.5 11.3  

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. CA2 = Caribou, LX4 = Lynx 4, LHW = Lynx Hanging Wall, LXM = Lynx Main, LSW = Lynx Southwest, TLX = Triple Lynx, and UDD = Underdog.

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-21-1871-W1 864.0 866.0 2.0 16.2   UDD Underdog
including 864.4 865.0 0.6 53.4  
OSK-W-21-1871-W3 849.0 851.5 2.5 5.51   UDD Underdog
including 851.0 851.5 0.5 20.5  
OSK-W-21-2512-W2 539.9 543.0 3.1 3.66   CAE Caribou
OSK-W-21-2540-W7 963.7 972.6 8.9 21.8 19.4 TLX_3158 Triple Lynx
including 966.1 966.6 0.5 142 100
  1111.0 1113.0 2.0 8.46   TLX Triple Lynx
  1125.0 1127.4 2.4 3.55   TLX Triple Lynx
OSK-W-21-2540-W9 923.0 925.2 2.2 10.9   TLX Triple Lynx
including 923.8 924.3 0.5 45.4  
  965.5 967.8 2.3 24.8 21.8 TLX_3158 Triple Lynx
including 967.5 967.8 0.3 123 100
OSK-W-21-2540-W10 990.3 992.7 2.4 17.6   TLX_3158 Triple Lynx
  1132.0 1134.0 2.0 5.57   TLX_3172 Triple Lynx
  1144.0 1146.0 2.0 7.90   TLX_3172 Triple Lynx
OSK-W-21-2540-W11 992.7 995.0 2.3 23.9   TLX_3158 Triple Lynx
including 993.1 994.1 1.0 53.3  
OSK-W-21-2587-W2 527.5 529.6 2.1 3.59   LXM Lynx
including 527.5 527.9 0.4 13.6  
OSK-W-21-2601 992.7 995.3 2.6 124 38.5 TLX_3158 Triple Lynx
including 994.2 994.9 0.7 418 100
OSK-W-21-2601-W2 883.9 886.0 2.1 10.5   TLX Triple Lynx
including 883.9 884.5 0.6 36.6  
  978.3 981.1 2.8 32.6   TLX_3158 Triple Lynx
OSK-W-21-2601-W3 944.0 946.0 2.0 13.0   TLX_3158 Triple Lynx
OSK-W-21-2635 297.0 299.0 2.0 13.9   CAE Caribou
including 297.0 298.0 1.0 27.7  
OSK-W-21-2636 712.0 714.3 2.3 3.52   UDD Underdog
including 714.0 714.3 0.3 12.4  
OSK-W-21-2637 569.0 571.0 2.0 31.3   CAE Caribou
including 570.2 571.0 0.8 77.8  
WST-21-0708 239.0 241.3 2.3 11.0   TLX Triple Lynx
including 240.0 240.7 0.7 35.8  
WST-21-0754 150.6 153.8 3.2 6.83   LXM Lynx
including 152.5 152.9 0.4 21.4  
WST-21-0913 150.9 153.0 2.1 15.9   LXM Lynx
including 150.9 151.7 0.8 41.6  
WST-21-0914 384.5 387.0 2.5 6.59   LSW Lynx SW
including 385.2 385.8 0.6 26.8  
WST-21-0927 398.0 400.0 2.0 4.78   TLX Triple Lynx
WST-21-0929B 193.6 196.0 2.4 30.3   TLX Triple Lynx
including 194.7 195.2 0.5 69.5  
WST-21-0931 456.1 459.1 3.0 9.87   TLX Triple Lynx
WST-21-0935 265.7 268.0 2.3 449 17.5 LHW Lynx HW
including 266.6 267.0 0.4 2580 100
WST-21-0936A 398.0 400.1 2.1 3.99   TLX Triple Lynx
WST-21-0943 153.8 156.0 2.2 4.87   LXM Lynx
including 154.1 154.7 0.6 16.6  
WST-21-0944 258.0 260.2 2.2 4.05   LHW Lynx HW
WST-21-0960 402.2 404.5 2.3 5.59   LX4 Lynx 4
including 402.2 402.6 0.4 21.5  
WST-21-0962 187.0 189.0 2.0 14.5   LXM Lynx
including 188.0 188.4 0.4 52.1  
  402.0 404.0 2.0 18.9   TLX Triple Lynx
  419.0 421.2 2.2 8.19   TLX Triple Lynx
including 419.9 420.4 0.5 35.1  
  639.0 641.3 2.3 6.98   LX4 Lynx 4
WST-21-0964 312.3 314.7 2.4 7.87   TLX Triple Lynx
including 313.7 314.2 0.5 33.9  
WST-21-0966 371.0 373.1 2.1 3.45   LHW_3233 Lynx HW
including 372.5 372.8 0.3 21.4  
WST-21-0969 331.0 333.0 2.0 4.65   TLX Triple Lynx
including 331.0 332.0 1.0 9.21  
  480.0 482.1 2.1 4.36   LX4 Lynx 4
  536.8 539.0 2.2 11.5   LX4 Lynx 4
including 536.8 537.8 1.0 25.0  
WST-21-0971 467.0 469.0 2.0 7.40   LX4 Lynx 4
including 467.0 467.9 0.9 16.3  
  479.0 482.0 3.0 4.82   LX4 Lynx 4
WST-21-0981 192.4 195.3 2.9 7.36   TLX Triple Lynx
including 192.4 193.0 0.6 24.2  
WST-21-0993 160.0 162.1 2.1 12.7   TLX Triple Lynx
including 161.1 162.1 1.0 26.1  

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See “Quality Control and Reporting Protocols” below. CAE = Caribou, LHW = Lynx Hanging Wall, LSW = Lynx Southwest, LXM = Lynx Main, LX4 = Lynx 4, TLX = Triple Lynx, and UDD = Underdog.

Drill hole location

Hole No. Azimuth
(°)
Dip
(°)
Length
(m)
UTM E UTM N Elevation Section
OSK-W-21-1871-W1 331 -56 1119 452496 5434397 402 2475
OSK-W-21-1871-W3 331 -56 906 452496 5434397 402 2475
OSK-W-21-1949-W10 105 -57 1317 453440 5435479 401 3825
OSK-W-21-1949-W13 105 -57 1212 453440 5435479 401 3825
OSK-W-21-1949-W15 105 -57 1305 453440 5435479 401 3825
OSK-W-21-1949-W16 105 -57 1014 453440 5435479 401 3825
OSK-W-21-1963-W10 123 -58 1451 453761 5435816 401 4275
OSK-W-21-2512-W2 331 -54 834 452448 5434465 400 2475
OSK-W-21-2512-W3 331 -54 819 452448 5434465 400 2475
OSK-W-21-2531-W3 344 -62 1329 452566 5434415 403 2550
OSK-W-21-2540-W7 117 -60 1152 453465 5435640 410 3925
OSK-W-21-2540-W9 117 -60 1349 453465 5435640 410 3925
OSK-W-21-2540-W10 117 -60 1181 453465 5435640 410 3925
OSK-W-21-2540-W11 117 -60 1028 453465 5435640 410 3925
OSK-W-21-2544-W1 128 -50 1140 452960 5435539 419 3425
OSK-W-21-2544-W3 128 -50 810 452960 5435539 419 3425
OSK-W-21-2578 350 -53 942 452178 5434397 399 2200
OSK-W-21-2587-W2 127 -59 1167 453350 5435673 418 3850
OSK-W-21-2601 125 -61 1500 453425 5435657 413 3900
OSK-W-21-2601-W2 125 -61 1500 453425 5435657 413 3900
OSK-W-21-2601-W3 125 -61 1305 453425 5435657 413 3900
OSK-W-21-2635 327 -56 708 452684 5434475 402 2675
OSK-W-21-2636 337 -52 801 452499 5434619 403 2575
OSK-W-21-2637 140 -59 747 452768 5435312 406 3150
OSK-W-21-2640-W1 336 -58 737 452683 5434351 402 2625
OSK-W-21-2646 109 -58 1272 453326 5435648 413 3800
WST-21-0708 134 -40 670 453374 5435296 -26 3675
WST-21-0754 151 -44 220 453356 5435272 16 3650
WST-21-0878 128 -40 711 453375 5435297 -26 3675
WST-21-0879 139 -44 724 453258 5435209 96 3525
WST-21-0881A 147 -57 457 453105 5435065 231 3325
WST-21-0883 126 -59 393 453105 5435065 231 3325
WST-21-0894B 132 -52 417 452955 5435004 253 3175
WST-21-0896 140 -47 741 453258 5435209 96 3525
WST-21-0897A 127 -42 699 453375 5435297 -26 3675
WST-21-0905C 141 -52 511 453221 5435121 135 3450
WST-21-0908C 122 -44 664 453506 5435326 -90 3800
WST-21-0911 121 -44 635 453507 5435332 -48 3800
WST-21-0912 141 -41 640 453258 5435209 96 3525
WST-21-0913 138 -49 594 453322 5435236 54 3600
WST-21-0914 148 -59 502 453105 5435066 231 3325
WST-21-0919 141 -46 597 453257 5435209 96 3525
WST-21-0924A 151 -29 138 453314 5435164 124 3550
WST-21-0927 146 -48 751 453321 5435235 54 3600
WST-21-0928 154 -70 391 453507 5435327 -7 3800
WST-21-0929B 115 -46 771 453506 5435327 -90 3800
WST-21-0931 144 -50 603 453321 5435235 54 3600
WST-21-0932 136 -26 360 453461 5435326 32 3775
WST-21-0933A 131 -52 733 453222 5435121 135 3450
WST-21-0935 132 -10 283 453462 5435326 33 3775
WST-21-0936A 137 -48 570 453257 5435209 96 3525
WST-21-0937 147 -25 127 453314 5435164 124 3550
WST-21-0943 151 -55 388 453507 5435327 -7 3800
WST-21-0944 116 -8 325 453462 5435326 33 3775
WST-21-0946 168 -51 403 453507 5435327 -7 3800
WST-21-0948 136 -31 583 453374 5435296 -26 3675
WST-21-0957B 120 -9 306 453462 5435326 33 3775
WST-21-0958A 141 -49 579 453321 5435235 54 3600
WST-21-0960 116 -42 600 453506 5435327 -90 3800
WST-21-0962 132 -49 685 453222 5435122 135 3450
WST-21-0963 121 -36 543 453507 5435333 -47 3800
WST-21-0964 127 -38 684 453374 5435297 -26 3675
WST-21-0965A 141 -49 344 453507 5435327 -7 3800
WST-21-0966 145 -28 390 453461 5435326 32 3775
WST-21-0968 183 -48 243 453358 5435296 -148 3675
WST-21-0969 133 -52 639 453321 5435235 54 3600
WST-21-0970 117 -34 519 453507 5435333 -47 3800
WST-21-0971 139 -62 615 453222 5435121 135 3450
WST-21-0979 178 -55 255 453358 5435296 -149 3675
WST-21-0980 131 -38 681 453374 5435297 -26 3675
WST-21-0981 174 -51 258 453358 5435296 -149 3675
WST-21-0983 176 -59 279 453358 5435297 -149 3675
WST-21-0987 154 -4 73 453440 5435223 -157 3700
WST-21-0993 191 -28 231 453357 5435296 -148 3675

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.

Lynx Zone

Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization 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.

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 3.5 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 Estimate (MRE) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate 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 resources 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. The 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 2,500 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


CBJ Newsmakers

Osisko Windfall Drilling Continues to Intercept High Grade, The Canadian Business Journal Source link Osisko Windfall Drilling Continues to Intercept High Grade, The Canadian Business Journal

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