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Osisko Mining Inc
Symbol OSK
Shares Issued 239,759,038
Close 2018-10-23 C$ 3.19
Market Cap C$ 764,831,331
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Osisko Mining drills 2.7 m of 1,026 g/t Au at Windfall

2018-10-23 08:09 ET - News Release

Mr. John Burzynski reports

OSISKO INTERSECTS 1026 G/T AU OVER 2.7 METRES AT LYNX

Osisko Mining Inc. has provided new infill drilling results from the continuing drill definition and expansion program at its 100-per-cent-owned Windfall Lake gold project located in the Abitibi greenstone belt, Urban township, Eeyou Istchee James Bay, Quebec. The 800,000-metre drill program commenced in late 2015. The program is currently focused on infill drilling within the main Windfall gold deposit and the adjacent Lynx deposit (located immediately northeast of Windfall), exploration and expansion drilling on the main mineralized zones, and deep exploration in the central areas of the intrusive system. Significant new analytical results from 37 intercepts in 17 drill holes and six wedges focused on infill drilling are presented in the associated table.

Highlights from the new results include: 1,026 grams per tonne gold over 2.7 metres in OSK-W-18-1725; 48.7 g/t Au over 3.3 metres in OSK-W-18-1560-W2; 59.3 g/t Au over 2.0 metres in OSK-W-18-1503-W1; 39.3 g/t Au over 2.3 metres in OSK-W-18-1665; 33.3 g/t Au over 2.7 metres in OSK-W-18-1711-W2; and 9.01 g/t Au over 9.2 metres in OSK-W-18-1402-W3. Maps showing hole locations and full analytical results are available at the company's website.


Hole No.               From     To  Interval     Au uncut     Au cut to 100 g/t
                        (m)    (m)       (m)        (g/t)                 (g/t)

OSK-W-18-1402-W3      920.1  929.3       9.2         9.01
OSK-W-18-1475         258.8  261.0       2.2         8.09
including             258.8  259.1       0.3         36.1
OSK-W-18-1503-W1      406.8  409.1       2.3         5.09
including             407.5  408.3       0.8         11.3
                      420.0  422.0       2.0         59.3                  36.4
including             420.7  421.4       0.7          166                   100
                      430.5  432.5       2.0         29.7                  15.5
including             431.2  431.5       0.3          195                   100
OSK-W-18-1545         383.0  385.9       2.9         11.2
OSK-W-18-1557         230.0  232.0       2.0         3.72
including             230.0  230.6       0.6         10.3
OSK-W-18-1560-W1      464.7  467.0       2.3         5.35
                      534.7  537.0       2.3         9.89
including             535.4  535.9       0.5         36.7
                      538.7  542.6       3.9         6.88
including             538.7  539.0       0.3         24.1
and                   541.6  542.6       1.0         18.9
OSK-W-18-1560-W2      473.5  475.8       2.3         5.28
including             474.8  475.3       0.5         14.9
                      542.3  545.6       3.3         48.7                  34.5
OSK-W-18-1587         198.1  200.1       2.0         10.0
OSK-W-18-1665         363.7  366.0       2.3         39.3
including             365.0  366.0       1.0         72.2
OSK-W-18-1678         387.0  389.1       2.1         5.88
including             388.8  389.1       0.3         40.0
OSK-W-18-1691          39.3   41.5       2.2         4.25
including              39.7   40.5       0.8         11.4
OSK-W-18-1707         153.1  155.4       2.3         3.95
                      199.0  201.0       2.0         6.23
                      380.0  382.4       2.4         27.4
including             380.0  381.0       1.0         50.4
                      387.0  391.0       4.0         6.81
OSK-W-18-1710         112.3  114.6       2.3         14.2
OSK-W-18-1711         605.4  608.0       2.6         5.08
OSK-W-18-1711-W1      547.0  549.0       2.0         4.55
                      560.6  563.4       2.8         12.5                  11.5
including             560.6  560.9       0.3          109                   100
                      568.4  570.4       2.0         6.36
OSK-W-18-1711-W2      631.3  634.0       2.7         33.3                  26.6
including             632.2  632.9       0.7          126                   100
OSK-W-18-1712         210.0  212.2       2.2         5.14
including             210.4  211.2       0.8         13.0
OSK-W-18-1713         533.8  535.9       2.1         6.48
OSK-W-18-1714         290.0  292.4       2.4         3.59
OSK-W-18-1723         488.4  490.6       2.2         22.7
                      498.6  501.2       2.6         4.06
including             500.8  501.2       0.4         25.3
OSK-W-18-1725         283.3  286.0       2.7        1,026                  64.8
including             283.3  284.0       0.7          502                   100
and                   284.4  285.3       0.9        2,670                   100
                      293.0  297.0       4.0         13.9
including             293.6  294.4       0.8         42.2
OSK-W-18-1727         169.0  171.0       2.0         6.51
including             169.0  169.8       0.8         15.6
OSK-W-18-1729         263.0  268.0       5.0         3.16
                      272.5  274.8       2.3         7.00
including             272.5  273.3       0.8         13.7
                      282.8  285.9       3.1         3.62
including             282.8  283.2       0.4         20.0

Note 
True widths are estimated at 65 to 80 per cent of the reported core length 
interval.  

OSK-W-18-1402-W3 intersected 9.01 g/t Au over 9.2 metres in Underdog. Mineralization includes up to 15 per cent pyrite stringers, 3 per cent chalcopyrite, 2 per cent quartz-tourmaline ptygmatic veins and local visible gold within a strong silica- and sericite-altered felsic porphyritic dike.

OSK-W-18-1475 intersected 8.09 g/t Au over 2.2 metres in Lynx. Mineralization includes 4 per cent disseminated pyrite and stringers in a moderate chlorite-, weak silica- and sericite-altered rhyolite.

OSK-W-18-1503-W1 intersected three intervals in Lynx: 5.09 g/t Au over 2.3 metres, 59.3 g/t Au over 2.0 metres and 29.7 g/t Au over 2.0 metres. The first interval contains 5 per cent disseminated/cluster pyrite and up 3 per cent pyrite/pyrite-tourmaline stringers within a weak fuchsite- and sericite-altered gabbro. The second interval contains local visible gold in pyrite stringers and trace chalcopyrite within a moderate sericite-altered rhyolite. The third interval has local visible gold and electrum within centimetre-scale smoky quartz veins, hosted in a moderate sericite-altered rhyolite.

OSK-W-18-1545 intersected 11.2 g/t Au over 2.9 metres in zone 27. Mineralization consists of up to 40 per cent pyrite as stringers, patches and semi-massive, ptygmatic tourmaline veinlets, and quartz-carbonate veins hosted at the contact between a fuchsite-, sericite-, chlorite-altered gabbro and moderate sericite-altered fragmental felsic intrusion.

OSK-W-18-1557 intersected 3.72 g/t Au over 2.0 metres in Lynx. Mineralization consists of up to 40 per cent pyrite as stringers and patches with ptygmatic tourmaline veinlets and breccia quartz-carbonate veins hosted at the contact between a fuchsite-, sericite- and chlorite-altered gabbro and a moderate sericite-altered fragmental felsic intrusion.

OSK-W-18-1560-W1 intersected three intervals in Lynx: 5.35 g/t Au over 2.3 metres, 9.89 g/t Au over 2.3 metres and 6.88 g/t Au over 3.9 metres. The first interval contains up to 7 per cent pyrite stringers, 5 per cent pyrite in smoky quartz veins, 2 per cent pyrite in dismembered tourmaline ptygmatic veins, 10 per cent disseminated and clustered pyrite in a sericitized and silicified rhyolite. The second interval contains 7 per cent disseminated pyrite and 5 per cent pyrite within quartz-carbonate veins hosted in a sericite-, silica- and fuchsite-altered gabbro. The third interval contains up to 7 per cent disseminated pyrite, 5 per cent pyrite in quartz-carbonate veins hosted in a bleached, sericitized and silicified gabbro.

OSK-W-18-1560-W2 intersected two intervals in Lynx 5.28 g/t Au over 2.3 metres and 48.7 g/t Au over 3.3 metres. The first interval contains up to 10 per cent pyrite stringers, 10 per cent pyrite with pervasive silica flooding, 10 per cent disseminated pyrite and 3 per cent disseminated chalcopyrite. The mineralization is hosted in an alternation between bleached, sericitized and silicified gabbro and sericitized rhyolite. The second interval contains up to 20 per cent disseminated pyrite, 20 per cent pyrite stringers, 5 per cent pyrite within quartz-tourmaline veins and 1 per cent hosted in a silica-, fuchsite- and sericite-altered gabbro.

OSK-W-18-1587 intersected 10.0 g/t Au over 2.0 metres in Lynx. Mineralization consists of 4 per cent disseminated pyrite and ptygmatic quartz-tourmaline veins within a strong sericite- and silica-altered contact between a gabbro and a rhyolite.

OSK-W-18-1665 intersected 39.3 g/t Au over 2.3 metres in zone 27. Mineralization consists of up to 15 per cent pyrite-tourmaline and trace of ptygmatic tourmaline veinlets hosted in a moderate sericite-altered porphyritic felsic intrusion.

OSK-W-18-1678 intersected 5.88 g/t Au over 2.1 metres in zone 27. Mineralization includes local visible gold, 5 per cent pyrite and 1 per cent chalcopyrite in fragmented and dismembered quartz-carbonate veinlets, 3 per cent disseminated pyrite, and quartz-tourmaline stringers hosted in bleached and sericitized gabbro.

OSK-W-18-1691 intersected 4.25 g/t Au over 2.2 metres in Caribou. Mineralization includes traces disseminated pyrite in a strongly chloritized, moderately bleached and sericitized andesite.

OSK-W-18-1707 intersected four intervals: 3.95 g/t Au over 2.3 metres and 6.23 g/t Au over 2.0 metres in Caribou; 27.4 g/t Au over 2.4 metres and 6.81 g/t Au over 4.0 metres in zone 27. The first interval includes 10 per cent pyrite and 2 per cent sphalerite within pervasive silica flooding, hosted in a silica- and sericite-altered rhyolite. The second interval contains up to 10 per cent pyrite stringers, locally semi-massive, wthin silicified and sericitized rhyolite. The third and fourth intervals include up to 15 per cent pyrite stringers, 1 per cent pyrite within smoky quartz veins, hosted in a bleached, strong silica- and sericite-altered felsic porphyritic intrusion.

OSK-W-18-1710 intersected 14.2 g/t Au over 2.3 metres in Bobcat. Mineralization consists of up to 40 per cent crustiform veins with 2 per cent pyrite, trace sphalerite and chalcopyrite hosted in a weak sericite- and silica-altered rhyolite.

OSK-W-18-1711 intersected 5.08 g/t Au over 2.6 metres in Lynx. Mineralization consists of 2 per cent pyrite in quartz-tourmaline veins within a sericite- and silica-altered rhyolite; OSK-W-18-1711-W1 intersected 4.55 g/t Au over 2.0 metres, 12.5 g/t Au over 2.8 metres and 6.36 g/t Au over 2.0 metres. The first interval includes 1 per cent pyrite stringers and clusters in a sericite-, silica- and carbonate-altered rhyolite. The second interval contains 7 per cent pyrite-tourmaline stringers, 5 per cent pyrite clusters within a silica-, sericite- and fuchsite-altered rhyolite. The third interval contains 1 per cent pyrite stringers and clusters in a strong chlorite-, weak sericite- and carbonate-altered rhyolite; OSK-W-18-1711-W2 intersected 33.3 g/t Au over 2.7 metres in Lynx. Mineralization consists of local visible gold, 5 per cent disseminated pyrite and quartz-tourmaline veins hosted in a moderate silica- and sericite-altered gabbro.

OSK-W-18-1712 intersected 5.14 g/t Au over 2.2 metres in Lynx. Mineralization consists of 2 per cent pyrite stringers, 2 per cent pyrite clusters and ptygmatic tourmaline veins hosted at the contact between a strong silica-altered rhyolite and a weak fuchsite-altered gabbro.

OSK-W-18-1713 intersected 6.48 g/t Au over 2.1 metres in zone 27. Mineralization consists of 40 per cent semi-massive pyrite and trace chalcopyrite with quartz clusters and hosted in a silica-altered porphyritic felsic dike.

OSK-W-18-1714 intersected 3.59 g/t Au over 2.4 metres. Mineralization consists of 4 per cent pyrite stringers and clusters with 2 per cent crustiform veins and 1 per cent quartz-tourmaline veinlets hosted in a moderate silica- and fuchsite-altered gabbro.

OSK-W-18-1723 intersected two intervals in Lynx: 22.7 g/t Au over 2.2 metres and 4.06 g/t Au over 2.6 metres. The first interval includes up to 15 per cent pyrite and trace sphalerite within pervasive silica flooding, trace disseminated pyrite clusters and stringers and ptygmatic tourmaline veinlets hosted a moderate sericite rhyolite. The second interval contains 5 per cent pyrite stringers, 1 per cent pyrite and traces of chalcopyrite in a laminated quartz-tourmaline veinlet hosted in a moderate sericite- and weak fuchsite-altered gabbro.

OSK-W-18-1725 intersected two intervals in Lynx: 1,026 g/t Au over 2.7 metres and 13.9 g/t Au over 4.0 metres. The first interval contains local visible gold, up to 15 per cent disseminated pyrite and stringers with pervasive silica flooding hosted in strong silica-, weak fuchsite-altered porphyritic felsic dike. The second interval contains local visible gold, up to 7 per cent pyrite stringers within a weak fuchsite-altered fragmental felsic dike.

OSK-W-18-1727 intersected 6.51 g/t Au over 2.0 metres in Lynx. Mineralization includes 1 per cent pyrite stringers within a strong chlorite-, moderate carbonate-, weak sericite- and fuchsite-altered gabbro.

OSK-W-18-1729 intersected three intervals in zone 27: 3.16 g/t Au over 5.0 metres, 7.00 g/t Au over 2.3 metres and 3.62 g/t Au over 3.1 metres. The first interval contains 10 per cent pyrite stringers with local tourmaline ptygmatic veins hosted at the contact between a moderate sericite- and weak silicified-altered felsic porphyritic dike and a moderate sericite-altered andesite. The second interval contains 7 per cent pyrite stringers and up to 20 per cent pyrite in pervasive silica flooding within a silicified and sericitized porphyritic felsic intrusion. The third interval contains up to 5 per cent pyrite stringers, 3 per cent pyrite with ptygmatic tourmaline veins and 3 per cent disseminated pyrite within a moderate sericite- and weak silica-altered felsic porphyritic intrusion.

Qualified person

The scientific and technical content of this news release has been reviewed, prepared and approved by Louis Grenier, MScA, PGeo (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.

Quality control and reporting protocols

True width determination is currently unknown but is estimated at 65 to 80 per cent 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 one-kilogram screen fire assay or standard 50-gram fire-assaying-AA finish or gravimetric finish at (i) ALS Laboratories in Val d'Or, Que., Thunder Bay, Ont., Sudbury, Ont., or Vancouver, B.C., or (ii) Bureau Veritas in Timmins, Ont. The one-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 multielements, 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 per cent of sample pulps are sent to secondary laboratories for check assay.

About the Windfall Lake gold deposit

The Windfall Lake gold deposit is located between Val d'Or and Chibougamau in the Abitibi region of Quebec, Canada. The mineral resource defined by Osisko, as disclosed in the Windfall Lake technical report (as defined below), comprises 2,382,000 tonnes at 7.85 g/t Au (601,000 ounces) in the indicated mineral resource category and 10,605,000 tonnes at 6.70 g/t Au (2,284,000 ounces) in the inferred mineral resource category. For details regarding the key assumptions, parameters and methods used to estimate the mineral resources presented in respect of the Windfall Lake gold project, please see the technical report entitled "Technical Report and Mineral Resource Estimate for the Windfall Lake Project, Windfall Lake and Urban-Barry Properties" and dated June 12, 2018 (effective date of May 14, 2018), which has been prepared by InnovExplo Inc. from Val d'Or, Que. The Windfall Lake technical report is available on Osisko's website and on SEDAR under Osisko's issuer profile. The Windfall Lake gold deposit is currently one of the highest-grade resource-stage gold projects in Canada. Mineralization occurs in four principal zones: Lynx, zone 27, Caribou and Underdog. All zones comprise subvertical lenses following intrusive porphyry contacts plunging to the northeast. The deposit is well defined from surface to a depth of 900 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 1,200 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-per-cent interest in the high-grade Windfall Lake gold deposit located between Val d'Or and Chibougamau in Quebec and holds a 100-per-cent undivided interest in a large area of claims in the surrounding Urban Barry area and nearby Quevillon area (over 3,300 square kilometres), a 100-per-cent interest in the Marban project located in the heart of Quebec'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 Quebec and Ontario.

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