Mr. John Burzynski reports
OSISKO INTERSECTS 115 G/T AU OVER 8.4 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 northest of Windfall).
Significant new analytical results from 19 intercepts in 12 drill holes and five wedges focused on infill drilling in the Lynx deposit are presented in the associated table. Today's infill drilling results will not be included in the pending mineral resource scheduled for release in May, 2018.
Highlights from the new results include: 115 grams per tonne gold over 8.4 metres in OSK-W-17-1363; 58.7 g/t Au over 5.1 metres in OSK-W-17-1343-W1; 118 g/t Au over 2.5 metres and 85.1 g/t Au over 2.0 metres in OSK-W-17-1169-W2; 72.8 g/t Au over 3.1 metres in OSK-W-17-1166; 68.8 g/t Au over 2.0 metres in OSK-W-17-928; 67.0 g/t Au over 2.0 metres in OSK-W-17-1396; 50.3 g/t Au over 2.3 metres in OSK-W-17-986; and 43.0 g/t Au over 2.6 metres in OSK-W-17-1320.
HoleFrom To Interval Au uncut Au cut to 100 g/tNo.(m)(m)(m)(g/t) (g/t)OSK-W-17-928 247.0249.02.0 68.850including247.0248.01.0138 100OSK-W-17-986 337.7340.02.3 50.348.7including338.4339.51.1104 100OSK-W-17-1166973.0976.13.1 72.814.9including974.4974.80.4549 100OSK-W-17-1320 90.4 93.02.6 43.015.6including 91.3 91.70.4278 100OSK-W-17-1343-W1 596.7601.85.1 58.730.3including597.7599.01.3212 100OSK-W-17-1363373.6382.08.411524.0including377.0377.70.7 1190 100including379.0380.01.0 97.7OSK-W-17-1396873.0875.02.0 67.015.3including873.8874.10.3445 100OSK-W-18-1169-W1 564.0566.12.1 7.84OSK-W-18-1169-W2 908.1910.62.511849.7including908.4909.00.6386 100 925.0927.02.0 4.09 1,082.01,084.02.0 85.146.9including1,082.31,083.20.9185 100OSK-W-18-1367-W2 878.0882.04.0 4.55OSK-W-18-1424878.2880.72.5 4.24including879.1879.90.8 12.2OSK-W-18-1432-W1 944.0946.52.5 8.89OSK-W-18-1443584.0586.02.0 4.25including584.4585.00.6 13.7OSK-W-18-1450565.1567.32.2 36.7OSK-W-18-1454896.1898.72.6 17.016.4including896.1896.50.4104 100OSK-W-18-1455441.0443.02.0 4.12including441.3442.00.7 10.5OSK-W-18-1460332.0337.45.4 4.50including332.0332.50.5 20.3including337.0337.40.4 28.5NotesTrue widths are estimated at 65 to 80 per cent of the reported core length interval.
OSK-W-17-928 intersected 68.8 g/t Au over 2.0 metres in Lynx HW. Mineralization contains trace disseminated pyrite within a moderate sericite- and weak silica-altered rhyolite.
OSK-W-17-986 intersected a crustiform vein returning 50.3 g/t Au 2.3 metres. Mineralization contains local visible gold, 2 per cent pyrite stringers, 2 per cent crustiform quartz-carbonate veins and pyrite-silica flooding within a silica-, carbonate- and fuchsite-altered gabbro.
OSK-W-17-1166 intersected 72.8 g/t Au over 3.1 metres in Lynx 4. Mineralization contains local visible gold, 10 per cent pyrite-silica flooding and 3 per cent pyrite-tourmaline stringers within a porphyritic felsic dike.
OSK-W-17-1320 intersected 43.0 g/t Au over 2.6 metres in Lynx. Mineralization contains 1 per cent disseminated pyrite and trace pyrite in quartz veins within in a strong chlorite-, moderate silica- and weak sericite-altered porphyritic felsic dike.
OSK-W-17-1343-W1 intersected 58.7 g/t Au over 5.1 metres in Lynx HW. Mineralization contains 3 per cent pyrite-silica flooding, 1 per cent pyrite-tourmaline stringers and a 10-centimetre quartz vein within a strong silica- and moderate sericite-altered porphyritic felsic dike.
OSK-W-17-1363 intersected 115 g/t Au over 8.4 metres in Lynx 2. Mineralization contains local visible gold and electrum and up to 25 per cent disseminated pyrite or pyrite-tourmaline stringers within strong pervasive silica flooding. The gabbro host is strongly fuchsite and silica altered.
OSK-W-17-1396 intersected 67.0 g/t Au over 2.0 metres in Lynx 4. Mineralization contains 1 per cent pyrite in quartz-tourmaline veins and 3 per cent disseminated pyrite within a moderate sericite-, moderate fuchsite- and weak silica-altered rhyolite.
OSK-W-18-1169-W1 intersected 7.84 g/t Au over 2.1 metres in Lynx 2. Mineralization contains 2 per cent pyrite disseminated or as stringers and 10 per cent quartz-carbonate and tourmalines veins within a silica- and fuchsite-altered gabbro.
OSK-W-18-1169-W2 intersected three intervals in Lynx 4: 118 g/t Au over 2.5 metres, 4.09 g/t Au over 2.0 metres and 85.1 g/t Au over 2.0 metres. The first interval contains local visible gold, up to 15 per cent pyrite-tourmaline stringers and 1 per cent disseminated pyrite within strong pervasive silica alteration at the contact between a silicified and sericitized gabbro and a sericitized rhyolite. The second interval contains local visible gold and 10 per cent pyrite in smoky quartz veins within a sericite-altered rhyolite. The third interval contains local visible gold and 5 per cent pyrite-tourmaline stringers within a strong silica-, moderate sericite-, moderate ankerite- and weak fuchsite-altered rhyolite.
OSK-W-18-1367-W2 intersected 4.55 g/t Au over 4.0 metres in Lynx corridor. Mineralization contains 1 per cent pyrite clusters and trace pyrite-silica flooding within a moderate chlorite- and weak silica-altered rhyolite.
OSK-W-18-1424 intersected 4.24 g/t Au over 2.5 metres in Lynx 4. Mineralization contains up to 2 per cent pyrite-tourmaline and 1 per cent pyrite in quartz-carbonate veins within a sericitized zone at the contact between a porphyritic felsic dike and a rhyolite.
OSK-W-18-1432-W1 intersected 8.89 g/t Au over 2.5 metres in Lynx 4. Mineralization contains up to 15 per cent pyrite stringers at low core angles, 2 per cent disseminated pyrite and traces of pyrite in ptygmatic tourmaline veins at the contact between a sericitized porphyritic felsic dike and a strongly bleached gabbro.
OSK-W-18-1443 intersected 4.25 g/t Au over 2.0 metres in Lynx HW. Mineralization contains 10 per cent disseminated pyrite and trace pyrite clusters within a bleached, chloritized and silicified gabbro.
OSK-W-18-1450 intersected 36.7 g/t Au over 2.2 metres in Lynx 2. Mineralization contains up to 8 per cent pyrite-silica flooding within a strong silica- and weak sericite-altered gabbro.
OSK-W-18-1454 intersected 17.0 g/t Au over 2.6 metres in Lynx 4. Mineralization is composed of 2 per cent disseminated pyrite and quartz-tourmaline veins, and 1 per cent pyrite-tourmaline stringers within a strong sericite-altered rhyolite.
OSK-W-18-1455 intersected 4.12 g/t Au over 2.0 metres in Lynx HW. Mineralization contains up to 4 per cent disseminated pyrite, up to 2 per cent pyrite stringers and trace pyrite clusters at the contact between a fuchsite-altered gabbro and a felsic porphyritic dike.
OSK-W-18-1460 intersected 4.50 g/t Au over 5.4 metres in Lynx HW. Mineralization contains 2 per cent pyrite-silica flooding and 1 per cent disseminated pyrite at the contact between a strong silica-altered rhyolite and a felsic 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 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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