Mr. John Burzynski reports
OSISKO INTERSECTS 40.8 G/T AU OVER 4.1 METRES AT WINDFALL
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 31 intercepts in 14 drill holes and six wedges focused on infill and expansion drilling in the Main Windfall Lake deposit are presented in the associated table.
Highlights from the new results include: 40.8 grams per tonne gold over 4.1 metres in OSK-W-18-823-W2; 53.9 g/t Au over 2.9 metres in OSK-W-18-1402-W2; 36.1 g/t Au over 3.2 metres in OSK-W-18-1431 and 32.8 g/t Au over 2.3 metres in OSK-W-18-1435. Maps showing hole locations and full analytical results are available at the company's website.
Hole No.FromTo IntervalAu uncut Au cut to 100 g/t (m) (m)(m) (g/t) (g/t)OSK-EAG-12-424 802.9 805.32.47.85including804.7 805.30.628.5 815.5 818.02.510.0including816.0 817.01.020.9OSK-W-16-706-W31,027.0 1,029.22.27.88including1,028.0 1,028.70.720.3OSK-W-17-943 610.8 616.05.23.25OSK-W-17-967 603.0 605.02.023.215.3including603.5 603.80.3 153 100 655.8 660.34.510.2including658.1 658.50.445.8OSK-W-17-1139953.8 956.02.24.44OSK-W-17-1308-W1 997.0 999.02.07.27OSK-W-17-1336-W1 1,153.5 1,161.07.56.12including1,157.0 1,158.01.017.0OSK-W-17-1352646.0 648.02.09.39including646.8 647.50.726.4OSK-W-17-1368236.0 238.02.03.77 270.9 273.02.18.05including270.9 271.20.354.0OSK-W-17-1369212.0 218.36.35.67OSK-W-17-1371565.0 567.02.03.19including565.3 565.70.414.8OSK-W-17-1378695.0 697.02.04.03including696.0 696.40.416.8 720.2 722.52.39.26including721.3 721.70.452.8OSK-W-17-14021,054.2 1,059.25.05.38 1,085.0 1,087.02.04.09 1,099.0 1,101.02.04.99OSK-W-18-762-W11,220.0 1,222.02.011.1including1,221.0 1,221.50.541.5OSK-W-18-823-W2843.7 846.02.311.7including845.0 845.30.380.5 858.4 862.54.140.829.3including860.8 861.70.9 152 100OSK-W-18-1402-W1 853.0 855.02.03.52 859.1 862.02.953.9 1,088.9 1,091.52.66.63including1,090.3 1,090.80.526.9 1,150.6 1,153.02.44.47including1,150.6 1,151.10.512.8OSK-W-18-1421872.6 875.83.236.1including874.5 875.51.081.8OSK-W-18-1431894.0 896.02.03.57including894.8 895.20.417.6 922.3 925.12.813.5including923.2 924.31.132.1OSK-W-18-1435301.5 303.82.332.831.1including302.1 302.80.7 106 100OSK-W-18-1441304.0 306.82.83.41NotesTrue widths are estimated at 65 to 80 per cent of the reported core length interval.
President and chief executive officer John Burzynski commented: "Good results again from our drilling at Windfall as we look forward to our initial mineral resource estimate on schedule for delivery in May. Although today's results are outside the cut-off date and won't be included in the mineral resource calculation in mid-March, they will add to the upside potential of Windfall as we head towards the feasibility study in early 2019. Particularly encouraging is that we are still seeing expansion potential in all of the main zones at Windfall-Lynx underscored in today's results with the extension of the Underdog FW4 zone by 70 metres up plunge from the previous mineralized intercept."
OSK-EAG-12-424 intersected two intervals in FW3: 7.85 g/t Au over 2.4 metres and 10.0 g/t Au over 2.5 metres. The first interval is composed of up to 2 per cent disseminated pyrite and 1 per cent pyrite stringers at the contact between a chloritized andesite and a sericitized porphyritic dike. The second interval contains up to 2 per cent pyrite and pyrite-tourmaline stringers within a strongly sericitized andesite with moderate fuchsite alteration.
OSK-W-16-706-W3 intersected FW2 returning 7.88 g/t Au over 2.2 metres in the Underdog corridor. Mineralization is composed of 8 per cent pyrite stringers within a moderately silicified and sericitized felsic porphyritic dike with weak fuchsite alteration.
OSK-W-17-943 new assay results extend the previously reported result of 4.51 g/t Au over 2.0 metres (March 2, 2018) to 3.25 g/t Au over 5.2 metres in Wolf HW. Mineralization is composed of 5 per cent pyrite stringers, 2 per cent disseminate pyrite within a sericitized and strongly silicified felsic porphyritic dike.
OSK-W-17-967 intersected two intervals in Caribou extension: 23.2 g/t Au over 2.0 metres and 10.2 g/t Au over 4.5 metres. The first interval is composed of 2 per cent pyrite stringers and disseminated pyrite within a strong sericite, weak silica-altered rhyolite. The second interval is composed of 2 per cent pyrite stringers, disseminated pyrite and quartz-tourmaline veins within a sericitized felsic porphyritic dike.
OSK-W-17-1139 intersected 4.44 g/t Au over 2.2 metres in FW3. Mineralization is composed of up to 2 per cent pyrite stringers hosted in a sericitized felsic porphyritic dike.
OSK-W-17-1308-W1 intersected 7.27 g/t Au over 2.0 metres in Wolf. Mineralization is composed of trace pyrite stringers and disseminated in moderately chloritized and sericitized felsic porphyritic dike.
OSK-W-17-1336-W1 intersected 6.12 g/t Au over 7.5 metres in FW3. Mineralization is composed of up to 5 per cent pyrite clusters, 1 per cent pyrite stringers and a 20-centimetre zone with 15 per cent ptygmatic tourmaline veins hosted in a sericitized and silicified felsic porphyritic dike.
OSK-W-17-1352 intersected 9.39 g/t Au over 2.0 metres in Caribou extension. Mineralization is composed of up to 8 per cent tourmaline-pyrite stringers at the contact between a gabbro and a felsic intrusive unit with weak fuchsite alteration.
OSK-W-17-1368 intersected 3.77 g/t Au over 2.0 metres and 8.05 g/t Au over 2.1 metres in Caribou extension. The first interval is composed of trace pyrite in stringers and disseminated within a weak sericite and silica-altered felsic porphyritic dike. The second interval is composed of 2 per cent pyrite stringers, 5 per cent pyrite-tourmaline stringers, 3 per cent ptygmatic tourmaline veins within a sericitized and silicified rhyolite.
OSK-W-17-1369 intersected 5.67 g/t Au over 6.3 metres in Caribou. Mineralization is composed of up to 7 per cent pyrite stringers and 10 per cent disseminated pyrite in an alternation of mafic and felsic volcanic units.
OSK-W-17-1371 intersected 3.19 g/t Au over 2.0 metres in Caribou extension. Mineralization is composed of disseminated pyrite and pyrite in quartz-tourmaline veins within a sericitized rhyolite.
OSK-W-17-1378 intersected 4.03 g/t Au over 2.0 metres in zone 27 and 9.26 g/t Au over 2.3 metres in a vein. The first interval is composed of 5 per cent pyrite within a felsic porphyritic dike. The second interval is composed of quartz-carbonate vein with local visible gold hosted in the Red Dog intrusion.
OSK-W-17-1402 intersected 5.38 g/t Au over 5.0 metres, 4.09 g/t Au over 2.0 metres and 4.99 g/t Au over 2.0 metres in FW3. All three mineralized intervals are composed of up to 1 per cent pyrite-silica flooding and trace pyrite stringers within a sericitized felsic porphyritic dike.
OSK-W-18-762-W1 intersected 11.1 g /t Au over 2.0 metres in FW4. Mineralization is composed of 2 per cent pyrite stringers, 1 per cent pyrite-tourmaline stringers and 30 centimetres of strong pyrite silica flooding within a sericitized and silicified felsic porphyritic dike.
OSK-W-18-823-W2 intersected two intervals in FW1: 11.7 g/t Au over 2.3 metre and 40.8 g/t Au over 4.1 metres. The first interval is composed of a pyrite-tourmaline stringer with 20 per cent pyrite and local visible gold. Mineralization is in strong pervasive silica flooding and calcite alteration within a sericitized felsic porphyritic dike. The second interval is composed of up 2 per cent pyrite stringers, trace pyrite-tourmaline stringer, disseminated pyrite, chalcopyrite and local visible gold within a moderate sericite-altered, fragmental, felsic porphyritic dike.
OSK-W-18-1402-W1 intersected four intervals: 3.52 g/t Au over 2.0 metres and 53.9 g/t Au over 2.9 metres in FW1, 6.63 g/t Au over 2.6 metres in FW3 and 4.47 g/t Au over 2.4 metres in FW4. In the first and second intervals, mineralization is composed of local visible gold, up to 15 per cent pyrite and tourmaline ptygmatic veins within a strongly sericitized and silicified felsic porphyritic dike. The third interval is composed local visible gold, 2 per cent pyrite stringers, 1 per cent pyrite stockwork and 2 per cent pyrite-silica flooding. FW3 mineralization is hosted in sericitized and silicified felsic porphyritic dike. The last interval is composed of 5 per cent disseminated pyrite and 3 per cent pyrite in smoky quartz veins within a porphyritic felsic dike with weak sericite alteration and moderate silica alteration.
OSK-W-18-1421 intersected 36.1 g/t Au over 3.2 metres in FW4. Mineralization is composed of local visible gold and up to 20 per cent pyrite stringers with pervasive silica flooding in a felsic fragmental intrusion. The interval extends FW4 70 metres up plunge of OSK-W-16-735 (33.6 g/t Au over 4.2 metres, previously reported Nov. 8, 2016).
OSK-W-18-1431 intersected two intervals: 3.57 g/t Au over 2.0 metres in FW2 and 13.5 g/t Au over 2.8 metres FW3. The first interval is composed of up to 8 per cent semi-massive pyrite and 1 per cent pyrite clusters within in a moderately silicified felsic porphyritic dike. The second interval is composed of up to 30 per cent semi-massive pyrite within a sericite and silica-altered felsic porphyritic dike.
OSK-W-18-1435 intersected 32.8 g/t Au over 2.3 metres in Bobcat. Mineralization is composed of 15 per cent disseminated pyrite, ptygmatic tourmaline veins and pervasive silica flooding within a silicified and sericitized felsic porphyritic dike.
OSK-W-17-1441 intersected 3.41 g/t Au over 2.8 metres in Bobcat. Mineralization is composed of up to 10 per cent semi-massive pyrite, 3 per cent pyrite-tourmaline stingers within a strongly sericitized rhyolite.
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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