Osisko Windfall Infill Drilling Intersects Some More Gold

 

TORONTO, Nov. 17, 2020 (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. Osisko Chief Executive Officer John Burzynski commented: “Lynx continues to deliver on high-grade and width with consistency, as illustrated by today’s headline intercepts of 193 g/t Au over 2.3 metres and 75.7 g/t Au over 12.3 metres.”

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 38 intercepts in 11 drill holes and 11 wedges.

Selected high-grade intercepts from the new results include: 75.7 g/t Au over 12.3 metres in OSK-W-20-2264; 193 g/t Au over 2.3 metres in OSK-W-20-2133-W3; and 37.6 g/t Au over 2.0 metres in OSK-W-20-2275-W3. 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-W2	901.3	903.5	2.2	9.27		Lynx_331	Lynx
including	901.7	902.0	0.3	59.4
OSK-W-20-2133-W3	791.2	793.5	2.3	193	41.7	Triple Lynx	Triple Lynx
including	792.7	793.1	0.4	972	100
	874.8	877.0	2.2	9.52		Triple Lynx	Triple Lynx
including	875.8	876.3	0.5	32.5
	931.1	933.2	2.1	8.05		Triple Lynx	Triple Lynx
including	932.7	933.2	0.5	20.2
OSK-W-20-2139-W11	882.9	885.0	2.1	8.33		Lynx_361	Triple Lynx
	896.3	898.6	2.3	13.6		Lynx_361	Triple Lynx
including	896.3	896.6	0.3	35.3
	912.2	914.4	2.2	4.36		Lynx_363	Triple Lynx
including	914.0	914.4	0.4	13.7
	954.0	956.0	2.0	7.91		Lynx_369	Triple Lynx
including	954.5	955.2	0.7	20.4
OSK-W-20-2256-W5	892.1	894.1	2.0	4.85		Lynx_368	Triple Lynx
OSK-W-20-2264	766.5	778.8	12.3	75.7	21	Lynx_334	Lynx
including	773.8	774.4	0.6	1085	100
and	774.4	775.3	0.9	190	100
OSK-W-20-2275-W3	669.5	672.3	2.8	11.8		Triple Lynx	Triple Lynx
including	669.5	670.2	0.7	46.5
	776.7	781.0	4.3	9.73		Lynx_376	Triple Lynx
	807.5	809.5	2.0	37.6	15.5	Triple Lynx	Triple Lynx
including	807.5	807.8	0.3	247	100
OSK-W-20-2280-W2	1012.2	1014.9	2.7	7.72		Lynx_368	Triple Lynx
	1073.6	1075.6	2.0	13.9		Lynx_364	Triple Lynx
including	1074.2	1074.9	0.7	35.9
	1083.0	1086.0	3.0	9.71		Lynx_364	Triple Lynx
	1113.4	1115.4	2.0	4.29		Lynx_370	Triple Lynx
including	1113.7	1114.0	0.3	19.1
OSK-W-20-2280-W3	1011.0	1013.0	2.0	9.31		Lynx_368	Triple Lynx
	1075.0	1078.0	3.0	10.1		Lynx_364	Triple Lynx
OSK-W-20-2283-W1	553.9	556.0	2.1	7.37		Lynx_365	Triple Lynx
including	554.5	555.3	0.8	16.7
	794.5	797.7	3.2	22.1		Triple Lynx	Triple Lynx
	818.0	822.0	4.0	6.80		Triple Lynx	Triple Lynx
OSK-W-20-2292-W3	817.0	819.0	2.0	4.11		Lynx_361	Triple Lynx
OSK-W-20-2295-W2	885.7	888.0	2.3	4.53		Triple Lynx	Triple Lynx
OSK-W-20-2295-W3	890.7	892.7	2.0	12.7		Triple Lynx	Triple Lynx
including	891.7	892.2	0.5	45.2
WST-20-0404	109.1	111.1	2.0	5.90		Lynx_304	Lynx
including	110.4	111.1	0.7	16.0
	137.5	139.6	2.1	6.17		Lynx_321	Lynx
WST-20-0407	178.4	180.5	2.1	4.24		Lynx_315	Lynx
WST-20-0425	66.6	70.5	3.9	7.09		Lynx_311	Lynx
including	66.6	67.6	1.0	16.5
	109.0	111.3	2.3	3.55		Lynx_304	Lynx
WST-20-0483	98.0	100.0	2.0	4.93		Lynx_304	Lynx
including	98.4	98.7	0.3	24.1
WST-20-0487	89.0	91.5	2.5	6.87		Lynx_304	Lynx
including	91.1	91.5	0.4	36.4
WST-20-0494	164.4	166.4	2.0	10.8		Lynx_301	Lynx
including	165.2	165.5	0.3	64.8
WST-20-0495	119.0	121.0	2.0	6.89		Lynx_304	Lynx
including	120.6	121.0	0.4	20.8
	131.2	133.5	2.3	3.67		Lynx_321	Lynx
including	133.1	133.5	0.4	16.9
WST-20-0498	108.0	110.0	2.0	3.23		Lynx_320	Lynx
including	108.5	109.0	0.5	12.9
WST-20-0499	56.0	58.2	2.2	16.5		Lynx_311	Lynx
including	57.0	57.4	0.4	83.5
WST-20-0500	56.1	58.4	2.3	10.2		Lynx_311	Lynx
including	57.0	57.4	0.4	43.0

^{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-W2	118	-49	1139	453080	5435531	417	3525
OSK-W-20-2133-W3	118	-49	965	453080	5435531	417	3525
OSK-W-20-2139-W11	115	-52	995	452980	5435549	420	3450
OSK-W-20-2256-W5	125	-51	1022	453160	5435686	414	3675
OSK-W-20-2264	292	-74	1119	454127	5435062	396	4225
OSK-W-20-2275-W3	127	-49	1050	452886	5435584	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-20-2283-W1	135	-50	1035	452997	5435607	425	3500
OSK-W-20-2292-W3	125	-54	943	453037	5435563	420	3525
OSK-W-20-2295-W2	132	-51	963	452938	5435472	415	3375
OSK-W-20-2295-W3	132	-51	969	452938	5435472	415	3375
WST-20-0404	163	-4	192	453493	5435286	117	3775
WST-20-0407	106	9	202	453495	5435288	118	3775
WST-20-0425	161	18	166	453358	5435208	156	3625
WST-20-0483	170	2	193	453449	5435264	116	3725
WST-20-0487	140	-5	177	453358	5435208	155	3625
WST-20-0494	124	0	189	453495	5435288	117	3775
WST-20-0495	165	2	184	453495	5435288	117	3775
WST-20-0498	132	-11	169	453228	5435126	136	3475
WST-20-0499	131	-21	163	453228	5435126	135	3475
WST-20-0500	139	-30	166	453228	5435126	135	3475

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