Mr. John Burzynski reports
OSISKO INTERSECTS 12.5 G/T AU OVER 8.5 METRES AT WINDFALL
Osisko Mining Inc. has released new results from the continuing drill program at its 100-per-cent-owned Windfall Lake gold project located in Urban township, Quebec. The current 400,000-metre drill program combines definition drilling above the Red Dog intrusion, expansion drilling above and below Red Dog, expansion drilling to the northeast of the main deposit, and exploration drilling on the greater deposit and Urban-Barry Project area. Significant new assay results from 15 intercepts in 11 drill holes focused on infill and expansion drilling in the high-grade Lynx discovery and the main Windfall deposit are reported in the table.
Highlights from the new results include: 12.5 grams per tonne gold over 8.5 metres in DDH OSK-OBM-16-667 in the Underdog corridor, and 12.4 g/t Au over 5.0 metres in DDH OSK-W-17-805 in Lynx 2 and 15.9 g/t Au over 3.0 metres in DDH OSK-EAG-13-504 in a new extension of the Wolf zone in the Caribou corridor. Maps showing hole locations and full analytical results are available at the company's website.
WINDFALL LAKE DRILL RESULTSHole No.From (m) To (m) Interval (m)Au uncut (g/t)OSK-W-17-805225.5230.55.012.4including 227.4230.53.117.7including 230.0230.50.564.6OSK-W-17-816192.5194.52.09.46including 192.5193.51.018.7OSK-W-17-827160.0162.12.122.5including 160.0161.51.530.0OSK-W-17-837343.7346.62.915.6OSK-W-17-839310.0312.12.110.5including 310.8311.70.917.9OSK-EAG-13-504746.9749.93.015.9753.0755.12.14.22OSK-OBM-16-667660.5669.08.512.5including 663.0665.02.037.4including 663.0664.21.250.1OSK-W-17-789-W2 882.0884.32.35.00906.5909.22.74.791,014.01,017.03.08.03OSK-W-17-807-W2 1,070.51,072.52.04.29including 1,070.51,071.51.08.20OSK-W-17-821975.1977.32.25.25including 976.1976.70.615.4OSK-W-17-826937.0939.02.03.791,316.61,319.02.416.0including 1,317.21,319.01.821.3
Lynx corridor
OSK-W-17-805 returned 12.4 g/t Au over 5.0 metres (including 17.7 g/t Au over 3.1 metres and 64.6 g/t Au over 0.5 metre). Mineralization is associated with 5 to 10 per cent quartz-carbonate veins (locally crustiform), and consists of trace to 1 per cent disseminated pyrite, trace to 1 per cent pyrite within pyrite-tourmaline stringers and trace to 1 per cent pyrite associated with quartz-carbonate veins. Local visible gold was observed in quartz-carbonates veins with 5 to 20 per cent pyrite (plus or minus tourmaline). The host rock is a sericitized and silicified rhyolite. The intersection represents the Lynx 2 zone, extending it 130 metres below and 30 metres west of previously released OSK-W-16-761 (71.3 g/t Au over 2.3 metres).
OSK-W-17-816 returned 9.46 g/t Au over 2.0 metres (including 18.7 g/t Au over 1.0 metre). Mineralization consists of trace to 2 per cent pyrite with disseminated tourmaline and occurs at a moderately sericitized contact between a small quartz porphyritic intrusive with a felsic volcanic unit. This interval extends the Lynx 1 HW zone 75 metres northeast of OSK-W-17-837 (43.9 g/t Au over 3.4 metres, previously released May 24, 2017).
OSK-W-17-827 returned 22.5 g/t Au over 2.1 metres (including 30.0 g/t Au over 1.5 metres) in the Lynx 3 zone. Mineralization consists of trace to 3 per cent pyrite disseminated within a fragmental felsic intrusive with local silica flooding.
OSK-W-17-837 returned 15.6 g/t Au over 2.9 metres. Mineralization consists of 2 to 5 per cent disseminated to massive pyrite within 50 per cent veins and veinlets (quartz-tourmaline and quartz-carbonate) which crosscut a strongly altered gabbro. This interval is located within the Lynx corridor, 50 metres below OSK-W-17-799 (11.0 g/t Au over 6.5 metres, previously released April 5, 2017).
OSK-W-17-839 returned 10.5 g/t Au over 2.1 metres (including 17.9 g/t Au over 0.9 metre). Mineralization consists of 8 to 10 per cent disseminated pyrite, 5 per cent pyrite stringers and 1 to 2 per cent ptygmatic quartz-tourmaline veins, located within the hangingwall of Lynx 1 zone, 16 metres below OSK-W-17-825 (5.27 g/t Au over 2.7 metres, previously released May 24, 2017).
Underdog corridor
OSK-OBM-16-667 is an extension of previously drilled hole OBM-16-667, intersecting the FW3U zone. The hole returned 12.5 g/t Au over 8.5 metres (including 37.4 g/t Au over 2.0 metres and 50.1 g/t Au over 1.2 metres). Mineralization consists of 3 to 7 per cent pyrite stringers and 3 to 5 per cent disseminated pyrite associated with rhyolite cut by crustiform veins and patches of silica flooding. Mineralization remains open in the hangingwall of FW3U and is interpreted to represent new mineralization in the increasingly large FW3 corridor. This new intercept is located 120 metres southwest of OSK-W-16-704-W1 (15.5 g/t Au over 2.9 metres, previously released Oct. 25, 2017).
OSK-W-17-789-W2 returned two intersections in the FW1 zone: 5.00 g/t Au over 2.3 metres and 4.79 g/t Au over 2.7 metres, infilling the zone 40 metres to the southeast of OSK-W-17-789 (16.4 g/t Au over 7.9 metres, previously released April 11, 2017). The FW3 intersection returned 8.03 g/t Au over 3.0 metres, located 30 m east of previously released OSK-W-17-789-W1 (14.6 g/t Au over 2.6 metres). Mineralization consists of trace to 10 per cent pyrite-tourmaline stringers, 2 to 3 per cent disseminated pyrite and occurs in felsic porphyry with large quartz eyes.
OSK-W-17-807-W2 intersected 4.29 g/t Au over 2.0 metres (including 8.20 g/t Au over 1.0 metre) between zones FW3 and FW4. Mineralization consists of up to 10 per cent pyrite-tourmaline stringers with 1 per cent chalcopyrite hosted in an altered felsic intrusive dike. This intersection is located 40 metres west of OSK-W-16-311-W2 (5.21 g/t Au over 2.7 metres, previously released Nov. 8, 2017).
OSK-W-17-821 returned 5.25 g/t Au over 2.2 metres (including 15.4 g/t Au over 0.6 metre). Mineralization consists of 10 to 15 per cent pyrite-tourmaline stringers or irregular clusters with a low core angle and a strong silicified halo. The host rock is a moderate to strongly altered fragmental porphyry dike.
OSK-W-17-826 returned two intersections: 3.79 g/t over 2.0 metres and 16.0 g/t Au over 2.4 metres (including 21.3 g/t Au over 1.8 metres). These mineralized intervals contain up to 5 per cent disseminated pyrite and 5 to 10 per cent pyrite in stringers and are hosted in a strongly bleached and sericitized andesite. The first intercept extends the FW0 zone 40 metres to the northeast of OBM-16-614 (11.2 g/t Au over 3.4 metres, previously released April 14, 2017). The second intercept is an extension of FW3 zone.
Caribou corridor
OSK-EAG-13-504 intersected the Wolf zone returning 15.9 g/t over 3.0 metres (including 4.22 g/t Au over 2.1 metres). Mineralization comprises 10 to 15 per cent pyrite-tourmaline stringers within a small quartz eye porphyritic intrusive. This intersection is located 25 metres northeast of OBM-15-559 (7.00 g/t Au over 10.0 metres, previously released Jan. 14, 2017).
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 true core lengths. Assay are uncut except where indicated, and calculated intervals are reported over a minimum length of two metres using a lower cut-off of three g/t Au. All NQ core assays reported were obtained by either one kilogram whole rock metallic screen/fire assay or standard 50-gram fire assaying with AA or gravimetric finish at ALS Laboratories in Val d'Or, Que., or Sudbury, Ont. The one-kilogram metallic screen assay method is selected by the geologist when samples contain coarse gold or present a higher percentage of pyrite than surrounding intervals. All 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 and interpretation of results are performed by qualified persons employing a quality assurance/quality control program consistent with National Instrument 43-101 and industry best practices. Standards and blanks are included with every 20 samples for quality assurance/quality control purposes by the corporation, as well as the lab. Approximately 5 per cent of sample pulps are sent to secondary laboratories for check assays.
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 current mineral resource 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 100 per cent of the high-grade Windfall Lake gold deposit located between Val d'Or and Chibougamau in Quebec, holds a 100-per-cent undivided interest in a large area of claims in the surrounding Urban Barry area (82,400 hectares), 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 Ontario. Osisko continues to be well financed with approximately $190-million in cash and investments.
We seek Safe Harbor.
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