Great Bear Resources

Osisko Mining Windfall Infill Drilling: Still Good ( 206 g/t Au over 2.0 metres)

New Intercepts Include 206 g/t Au over 2.0 Metres

TORONTO, Jan. 06, 2021 (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, with the near-term objective of completion of the infill program in preparation for feasibility work. Osisko Chief Executive Officer John Burzynski commented: “We anticipate a busy year ahead as we maintain the steady drill pace of 2020 and work towards the completion of infilling our resource. The principal mineralized zones also remain open down plunge, and near deposit exploration is continuing to give encouraging results, which we believe will lead to new mineralized extensions and additions.”

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 90 intercepts in 25 drill holes and 23 wedges.

Selected high-grade intercepts from the new results include: 206 g/t Au over 2.0 metres in WST-20-0581; 60.0 g/t Au over 2.0 metres in WST-20-0498; 52.9 g/t Au over 2.8 metres in WST-20-0513; 47.5 g/t Au over 2.2 metres in OSK-W-20-2334; 42.4 g/t Au over 2.3 metres in WST-20-0523A; 40.4 g/t Au over 3.6 metres in OSK-W-20-2133-W4. 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-W4 798.8 802.4 3.6 40.4   Triple Lynx

Triple Lynx

including 799.2 800.2 1.0 73.3  
OSK-W-20-2243-W6 804.7 806.8 2.1 9.02   Lynx_361 Triple Lynx
  851.4 854.8 3.4 23.5   Triple Lynx

Triple Lynx

including 853.1 853.9 0.8 68.9  
OSK-W-20-2252-W7 842.6 849.0 6.4 6.93   Triple Lynx

Triple Lynx

including 844.8 845.1 0.3 41.7  
  879.1 881.8 2.7 4.62   Lynx_371

Triple Lynx

including 879.4 879.7 0.3 16.0  
  885.0 889.0 4.0 4.70   Lynx_371 Triple Lynx
  893.9 896.7 2.8 5.67   Lynx_371 Triple Lynx
  919.7 923.0 3.3 4.45   Lynx_361

Triple Lynx

including 919.7 920.0 0.3 13.3  
OSK-W-20-2256-W4 1012.0 1014.0 2.0 14.6   Triple Lynx Triple Lynx
OSK-W-20-2256-W6 868.8 872.6 3.8 24.4   Lynx_371

Triple Lynx

including 869.7 870.3 0.6 79.5  
  875.0 879.0 4.0 4.91   Lynx_371 Triple Lynx
  883.0 892.0 9.0 18.2   Lynx_361

Triple Lynx

including 887.6 888.3 0.7 57.6  
OSK-W-20-2256-W7 869.4 872.0 2.6 4.86   Lynx_361 Triple Lynx
  899.0 901.0 2.0 15.4   Triple Lynx

Triple Lynx

including 899.6 900.0 0.4 69.4  
OSK-W-20-2264 782.2 790.0 7.8 10.5   Lynx_330

Lynx

including 786.9 787.6 0.7 38.4  
OSK-W-20-2271-W1 847.5 849.5 2.0 4.50   Lynx Lynx
OSK-W-20-2271-W2 1024.5 1026.9 2.4 32.1   Lynx_330

Lynx

including 1026.6 1026.9 0.3 90.1  
  1064.0 1066.1 2.1 6.13   Lynx_334

Lynx

including 1065.2 1065.6 0.4 20.3  
  1077.0 1079.0 2.0 5.15   Lynx_334 Lynx
OSK-W-20-2275-W3 899.0 901.0 2.0 10.8   Triple Lynx

Triple Lynx

including 900.3 900.7 0.4 43.3  
OSK-W-20-2275-W4 635.0 637.1 2.1 7.18   Lynx_365

Triple Lynx

including 636.1 636.5 0.4 25.6  
  804.8 810.4 5.6 11.8   Triple Lynx

Triple Lynx

including 806.3 806.9 0.6 55.1  
  835.0 837.0 2.0 11.1   Triple Lynx

Triple Lynx

including 835.6 836.0 0.4 54.7  
  889.5 892.0 2.5 5.40   Triple Lynx

Triple Lynx

including 890.4 891.0 0.6 22.4  
OSK-W-20-2280-W2 1102.7 1105.0 2.3 5.46   Lynx_370

Triple Lynx

including 1103.5 1104.0 0.5 20.9  
OSK-W-20-2280-W3 1099.2 1101.3 2.1 5.22   Triple Lynx

Triple Lynx

including 1101.0 1101.3 0.3 17.7  
  1103.0 1108.9 5.9 4.92   Triple Lynx

Triple Lynx

including 1108.6 1108.9 0.3 18.2  
  1112.9 1116.0 3.1 20.1   Lynx_370

Triple Lynx

including 1112.9 1113.5 0.6 77.8  
OSK-W-20-2280-W4 1040.0 1042.0 2.0 6.32   Triple Lynx Triple Lynx
  1044.0 1046.0 2.0 4.83   Triple Lynx Triple Lynx
including 1044.6 1044.9 0.3 24.6   Triple Lynx Triple Lynx
  1072.9 1077.5 4.6 12.8   Triple Lynx

Triple Lynx

including 1075.5 1075.9 0.4 97.2  
  1091.2 1098.0 6.8 3.96   Triple Lynx Triple Lynx
  1100.7 1105.0 4.3 13.5 12.7 Lynx_364

Triple Lynx

including 1100.7 1101.0 0.3 112 100
  1109.7 1114.0 4.3 16.9 15.7 Lynx_364

Triple Lynx

including 1109.7 1110.0 0.3 117 100
OSK-W-20-2280-W5 1010.5 1016.0 5.5 3.61   Lynx_363 Triple Lynx
  1039.0 1041.0 2.0 22.4   Lynx_364

Triple Lynx

including 1039.5 1040.0 0.5 81.8  
  1046.0 1052.0 6.0 30.4 23.7 Lynx_364

Triple Lynx

including 1047.8 1049.0 1.2 129 95
  1054.0 1059.9 5.9 14.7   Lynx_364

Triple Lynx

including 1059.2 1059.9 0.7 82.8  
  1093.0 1096.0 3.0 12.0   Triple Lynx Triple Lynx
OSK-W-20-2283-W1 807.0 809.6 2.6 8.20   Triple Lynx

Triple Lynx

including 807.5 809.6 2.1 9.02  
OSK-W-20-2283-W2 814.8 817.1 2.3 8.16   Triple Lynx

Triple Lynx

including 816.6 817.1 0.5 26.8  
  832.7 835.0 2.3 6.13   Triple Lynx Triple Lynx
  991.0 993.0 2.0 9.11   Triple Lynx

Triple Lynx

including 991.3 991.8 0.5 35.7  
OSK-W-20-2283-W6 831.6 836.0 4.4 17.6   Lynx_361

Triple Lynx

including 833.3 834.6 1.3 40.6  
OSK-W-20-2292-W4 892.0 894.9 2.9 4.02   Lynx_375

Triple Lynx

including 893.1 893.8 0.7 10.3  
OSK-W-20-2295-W2 679.7 682.0 2.3 24.7 17.4 Triple Lynx

Triple Lynx

including 681.7 682.0 0.3 157 100
OSK-W-20-2295-W3 660.3 662.3 2.0 3.89   Triple Lynx Triple Lynx
OSK-W-20-2295-W4 670.1 673.1 3.0 5.99   Triple Lynx

Triple Lynx

including 670.1 670.6 0.5 16.6  
  698.0 700.1 2.1 4.33   Triple Lynx

Triple Lynx

including 699.8 700.1 0.3 23.7  
  757.0 759.3 2.3 4.08   Triple Lynx

Triple Lynx

including 757.0 757.5 0.5 10.1  
  822.5 824.5 2.0 3.90   Triple Lynx

Triple Lynx

including 823.5 824.0 0.5 14.1  
  841.0 843.0 2.0 5.77   Triple Lynx

Triple Lynx

including 841.4 841.7 0.3 31.5  
OSK-W-20-2313-W5 819.9 822.0 2.1 7.49   Lynx_376 Triple Lynx
OSK-W-20-2322-W1 1119.8 1124.6 4.8 7.20   Lynx_330

Lynx

including 1120.5 1121.2 0.7 13.8  
OSK-W-20-2334 1007.1 1009.3 2.2 47.5 41.7 Lynx_330

Lynx

including 1008.0 1008.4 0.4 132 100
OSK-W-20-2367 59.0 62.0 3.0 6.38   Lynx_335 Lynx SW
WST-20-0406 130.2 132.4 2.2 3.26   Lynx_322 Lynx
WST-20-0486 57.5 63.7 6.2 15.1   Lynx_303



Lynx



including 58.5 59.0 0.5 47.1  
and 59.7 60.1 0.4 46.1  
  114.0 116.0 2.0 10.5   Lynx_304

Lynx

including 115.4 116.0 0.6 27.6  
WST-20-0498 123.5 125.7 2.2 3.84   Lynx_304 Lynx
  132.5 134.5 2.0 60.0 41.3 Lynx_304

Lynx

including 133.8 134.5 0.7 154 100
WST-20-0502 73.4 76.0 2.6 4.73   Lynx_311 Lynx
WST-20-0503 57.9 59.9 2.0 18.6   Lynx_311

Lynx

including 57.9 58.7 0.8 46.1  
WST-20-0505A 84.5 87.0 2.5 9.07   Lynx_307

Lynx

including 84.5 84.8 0.3 72.4  
  233.5 236.0 2.5 3.00   Lynx SW Lynx SW
WST-20-0506 123.2 125.5 2.3 7.83   Lynx_304

Lynx

including 123.9 124.7 0.8 22.4  
WST-20-0509 94.4 96.5 2.1 4.24   Lynx_304

Lynx

including 94.4 94.7 0.3 13.9  
WST-20-0512 48.2 50.2 2.0 8.84   Lynx_303

Lynx

including 49.3 49.9 0.6 29.1  
  54.0 56.0 2.0 21.1   Lynx_311

Lynx

including 54.9 55.4 0.5 83.8  
WST-20-0513 138.0 140.8 2.8 52.9 44.5 Lynx_323

Lynx

including 139.0 139.9 0.9 126 100
  151.8 154.0 2.2 3.67   Lynx_304 Lynx
WST-20-0514 141.0 143.0 2.0 20.9   Lynx_323

Lynx

including 141.0 142.0 1.0 32.5  
WST-20-0523A 67.2 69.4 2.2 14.8   Lynx_311

Lynx

including 67.7 68.4 0.7 44.8  
  72.0 74.3 2.3 42.4   Lynx_311

Lynx

including 73.5 74.3 0.8 90.4  
WST-20-0525 142.0 144.0 2.0 13.3   Lynx_323

Lynx

including 142.0 143.0 1.0 26.4  
WST-20-0537 84.9 87.1 2.2 6.49   Lynx

Lynx

including 86.4 87.1 0.7 16.1  
WST-20-0538 105.0 107.2 2.2 15.0   Lynx_304

Lynx

including 105.3 105.8 0.5 64.4  
  117.0 120.0 3.0 4.15   Lynx Lynx
WST-20-0539 45.9 48.2 2.3 6.89   Lynx_303 Lynx
  96.6 98.6 2.0 20.6   Lynx_304

Lynx

including 97.0 97.5 0.5 80.2  
WST-20-0540 51.3 53.5 2.2 3.12   Lynx_303 Lynx
  111.0 113.2 2.2 7.86   Lynx_304

Lynx

including 111.0 111.3 0.3 47.2  
WST-20-0541 45.8 48.1 2.3 10.0   Lynx_303

Lynx

including 46.4 47.2 0.8 25.6  
  60.1 62.3 2.2 13.8   Lynx

Lynx

including 60.9 61.7 0.8 34.3  
  98.0 100.0 2.0 15.7   Lynx_304

Lynx

including 99.0 99.5 0.5 36.3  
WST-20-0544 52.7 55.5 2.8 72.0 55.8 Lynx_303

Lynx

including 52.7 54.1 1.4 132 100
WST-20-0563 129.4 131.5 2.1 4.72   Lynx_365

Triple Lynx

including 129.4 130.0 0.6 15.1  
WST-20-0579 58.0 60.5 2.5 5.62   Lynx_303 Lynx
WST-20-0581 268.4 274.0 5.6 4.56   Lynx SW Lynx SW
  283.0 285.0 2.0 206 45.4 Lynx SW

Lynx SW

including 283.0 283.9 0.9 458 100

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-W4 118 -49 987 453080 5435531 417 3525
OSK-W-20-2243-W6 122 -54 965 453086 5435526 417 3550
OSK-W-20-2252-W7 129 -54 1191 453241 5435694 415 3750
OSK-W-20-2256-W4 125 -51 1122 453160 5435686 411 3675
OSK-W-20-2256-W6 125 -51 1157 453160 5435686 411 3675
OSK-W-20-2256-W7 125 -51 1005 453160 5435686 411 3675
OSK-W-20-2264 292 -74 1119 454127 5435062 396 4225
OSK-W-20-2271-W1 120 -53 1200 453462 5435683 410 3950
OSK-W-20-2271-W2 120 -53 1223 453462 5435683 410 3950
OSK-W-20-2275-W3 127 -49 1050 452888 5435583 409 3400
OSK-W-20-2275-W4 127 -49 1052 452888 5435583 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-20-2280-W4 127 -58 1215 453304 5435639 415 3775
OSK-W-20-2280-W5 127 -58 1134 453304 5435639 415 3775
OSK-W-20-2283-W1 135 -50 1035 452997 5435607 425 3500
OSK-W-20-2283-W2 135 -50 1011 452997 5435607 425 3500
OSK-W-20-2283-W6 135 -50 957 452997 5435607 425 3500
OSK-W-20-2292-W4 125 -54 984 453035 5435561 420 3525
OSK-W-20-2295-W2 132 -51 963 452933 5435473 415 3375
OSK-W-20-2295-W3 132 -51 969 452933 5435473 415 3375
OSK-W-20-2295-W4 132 -51 1082 452933 5435473 415 3375
OSK-W-20-2313-W5 134 -52 1086 452965 5435583 420 3450
OSK-W-20-2322-W1 130 -54 1233 453608 5435715 403 4075
OSK-W-20-2334 125 -53 1166 453397 5435557 413 3825
OSK-W-20-2367 349 -46 279 452742 5434761 398 2875
WST-20-0406 135 -8 202 453494 5435287 117 3775
WST-20-0486 130 -37 162 453359 5435209 154 3625
WST-20-0498 132 -11 169 453228 5435126 136 3475
WST-20-0502 144 -40 115 453105 5435065 231 3325
WST-20-0503 148 6 99 453105 5435065 232 3325
WST-20-0505A 183 -45 331 453227 5435125 134 3475
WST-20-0506 175 20 141 453357 5435208 156 3625
WST-20-0509 126 -20 148 453316 5435166 124 3575
WST-20-0512 159 -10 139 453315 5435164 125 3575
WST-20-0513 147 -25 184 453418 5435305 69 3725
WST-20-0514 154 -26 181 453418 5435305 69 3725
WST-20-0523A 166 -46 387 453104 5435065 231 3325
WST-20-0525 165 -20 187 453418 5435305 69 3725
WST-20-0537 132 -32 139 453316 5435166 124 3575
WST-20-0538 130 -37 142 453316 5435166 124 3575
WST-20-0539 122 -29 139 453316 5435166 124 3575
WST-20-0540 129 -42 147 453316 5435166 124 3575
WST-20-0541 150 -28 138 453315 5435165 124 3575
WST-20-0544 144 -43 144 453315 5435165 124 3575
WST-20-0563 324 -40 248 453255 5435214 96 3525
WST-20-0579 162 -38 144 453315 5435165 124 3575
WST-20-0581 181 -60 474 453177 5435126 173 3425

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


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