Mr. John Burzynski reports
OSISKO INTERSECTS 403 G/T AU OVER 2.7 METRES AT LYNX
Osisko Mining Inc. has provided new results from the continuing drill 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 combines definition, expansion and exploration drilling in and around the main Windfall gold deposit and the adjacent Lynx deposit (located immediately northeast of Windfall).
Significant new analytical results from 16 intercepts in five drill holes and five wedges focused on infill and expansion drilling in the Lynx deposit are presented in the associated table. Osisko continues to extend the known Lynx zones of mineralization through the application of the Windfall geological model and as the density of drilling increases.
Highlights from the new results include: 403 grams per tonne gold over 2.7 metres in OSK-W-18-1412-W1, 151 g/t Au over 2.2 metres in OSK-W-18-1414-W2, 40.1 g/t Au over 2.0 metres in OSK-W-17-1363 and 36.3 g/t Au over 2.0 metres in OSK-W-18-1436.
HoleFromTo IntervalAu uncutAu cut to 100 g/tNo.(m) (m)(m) (g/t)(g/t)OSK-W-17-1166-W3 661.0 664.83.86.38including663.5 664.81.314.3 1,341.0 1,343.02.04.06 1,385.0 1,387.02.06.26including1,386.0 1,386.30.341.3OSK-W-17-11931,659.8 1,662.02.25.66including1,659.8 1,660.60.815.5 1,682.0 1,684.02.011.0including1,682.5 1,683.10.633.6OSK-W-17-1343-W1 560.8 563.93.13.32OSK-W-17-1363222.0 224.02.03.28 470.5 472.52.040.1including470.5 471.51.079.9OSK-W-17-1379136.4 138.52.15.62including136.4 137.00.618.9OSK-W-17-1413534.6 537.02.45.77 742.0 744.02.03.83OSK-W-18-923-W1876.2 878.22.03.39OSK-W-18-1412-W1 720.0 722.72.7 403 50.9including721.7 722.71.0 1,050100 731.0 733.02.010.4including731.9 733.01.117.9OSK-W-18-1414-W2 934.5 936.72.2 151 83.5including934.5 935.00.5 369100including935.8 936.70.9 117100OSK-W-18-1436546.0 548.02.036.3including547.0 547.60.691.0NotesTrue widths are estimated at 65 to 80 per cent of the reported core length interval.
President and chief executive officer John Burzynski commented: "We continue to see good results from our drilling at Lynx and are looking forward to our initial mineral resource estimate which is on schedule for delivery in May. The Lynx corridor was discovered by the Osisko team just a year ago and has been traced out over a length of almost two kilometres and remains open along strike. As we closed the database for the mineral resource calculation in mid-March, today's results will not be included but will add to the upside potential of the Lynx deposit as we head toward the feasibility study in early 2019."
OSK-W-17-1166-W3 intersected three intervals: 6.38 g/t Au over 3.8 metres in Lynx corridor, 4.06 g/t Au over 2.0 metres and 6.26 g/t Au over 2.0 metres in Lynx 6. The first interval is composed of 2 per cent pyrite clusters and 1 per cent pyrite stringers in a strongly sericitized felsic fragmental intrusion. The second interval is composed of 3 per cent pyrite clusters and one pyrite stringer within a strongly sericitized rhyolite. The last interval is composed of pyrite stringers and pyrite-silica flooding within a weak sericite-altered felsic porphyritic dike.
OSK-W-17-1193 intersected two intervals in a shear zone 200 metres south of Lynx 6 and returned 5.66 g/t Au over 2.2 metres and 11.0 g/t Au over 2.0 metres. In the first interval, mineralization is composed of 3 per cent disseminated pyrrhotite and the second interval is composed of 2 per cent pyrite clusters and pyrrhotite traces. Small quartz veins are with the mineralization and hosted in a sheared, strongly sericitized andesite.
OSK-W-17-1343-W1 intersected 3.32 g/t Au over 3.1 metres in Lynx HW. Mineralization is composed of trace pyrite within moderate sericite-altered gabbro.
OSK-W-17-1363 intersected two intervals: 3.28 g/t Au over 2.0 metres in the Lynx HW and 40.1 g/t Au over 2.0 metres in a crustiform vein. In the first interval, mineralization is composed of disseminated pyrite and pyrite stringers within a chloritized rhyolite. The second interval is composed of 7 per cent pyrite stringers and pyrite-silica flooding within a strong chlorite, strong fuchsite- and weak silica-altered gabbro. The interval is 85 metres down plunge of OSK-W-17-1121 (8.62 g/t over 2.7 metres previously reported Oct. 12, 2017).
OSK-W-17-1379 intersected 5.62 g/t Au over 2.1 metres in Lynx 1. Mineralization is composed of up to 5 per cent pyrite stringers within a strong sericite-, chlorite- and fuchsite-altered felsic porphyritic dike.
OSK-W-17-1413 intersected two intervals in Lynx 4: 5.77 g/t Au over 2.4 metres and 3.83 g/t Au over 2.0 metres. In the first interval, mineralization is composed of 1 per cent disseminated pyrite and 1 per cent pyrite-silica flooding within a strongly silicified, large quartz eyes, felsic porphyritic intrusion. The interval is 100 metres southwest of OSK-W-17-827 (3.63 g/t over 3.0 metres previously reported July 12, 2017). The second interval is composed of disseminated pyrite within a strong chlorite- and weak fuchsite-altered andesite.
OSK-W-18-923-W1 intersected 3.39 g/t Au over 2.0 metres in Lynx 4. Mineralization is composed of 2 per cent pyrite clusters, 1 per cent pyrite stringers and 1 per cent disseminated pyrite in quartz vein fracture filling. Mineralization is at a sericite- and fuchsite-altered contact between a gabbro and a rhyolite.
OSK-W-18-1412-W1 intersected two intervals: 403 g/t Au over 2.7 metres and 10.4 g/t Au over 2.0 metres in Lynx 1. The first interval is composed of up to 5 per cent pyrite as stringers, clusters and disseminated 2 per cent disseminated chalcopyrite and local visible gold within a moderate sericite-, silica- and fuchsite-altered gabbro. The second interval is composed of up to 10 per cent disseminated pyrite, up to 10 per cent pyrite-tourmaline veins and 5 per cent disseminated pyrite within a moderate silica-, moderate sericite- and weak fuchsite-altered gabbro.
OSK-W-18-1414-W2 intersected 151 g/t Au over 2.2 metres in Lynx 4. Mineralization is composed of 1 per cent pyrite-tourmaline veins, 1 per cent pyrite clusters, up to 8 per cent disseminated pyrite and local visible gold within a strong silica-, sericite- and fuchsite-altered gabbro.
OSK-W-18-1436 intersected 36.3 g/t Au over 2.0 metres in Lynx 2. Mineralization is composed of up to 2 per cent pyrite stringers and 2 per cent ptygmatic quartz-tourmaline veins within strong silica- and sericite-altered gabbro.
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 the 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 determinations are estimated at 65 to 80 per cent of the reported core length intervals for most of the zones. 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 ALS Laboratories in Val d'Or, Que., Thunder Bay and Sudbury, Ont., or Vancouver, B.C., or 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 are 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 the previous operator 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, Quebec, 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-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 Northeastern 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. Osisko continues to be well financed with approximately $190-million in cash and investments as of Dec. 31, 2017.
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