Bunker Hill Mining

Osisko Mining Windfall Infill Drilling: Insert Superlative Here (108 g/t Au over 10.5 metres)

TORONTO, Jan. 26, 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. Osisko Chief Executive Officer John Burzynski commented: “Infill drilling at Windfall continues with more good results with respect to grade and width, particularly in the Lynx zones. Both underground and surface drills continue to infill our resources and explore open down plunge areas.”

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 63 intercepts in 38 drill holes and 7 wedges.

Selected high-grade intercepts from the new results include: 108 g/t Au over 10.5 metres in OSK-W-20-2256-W7; 21.7 g/t Au over 11.3 metres in OSK-W-20-2271-W3; 76.7 g/t Au over 3.0 metres in OSK-W-20-2377; 30.9 g/t Au over 4.5 metres in OSK-W-20-2292-W4; 35.1 g/ t Au over 2.8 metres in OSK-W-20-2325; and 36.5 g/t Au over 2.1 metres in OSK-W-20-2283-W3. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Hole Number From (m) To (m) Interval (m) Au (g/t) uncut Au (g/t) cut to 100 g/t Zone Corridor
OSK-W-20-847-W3 628.8 631.0 2.2 4.32   Caribou_2214 Caribou
including 629.5 630.0 0.5 12.9  
OSK-W-20-852-W4 548.0 550.0 2.0 8.55   Caribou_2524 Caribou
OSK-W-20-2256-W7 881.0 891.5 10.5 108 30.7 Lynx_361 Triple Lynx
including 885.8 887.0 1.2 567 100
and 887.5 888.6 1.1 302 100
OSK-W-20-2271-W3 1057.6 1068.9 11.3 21.7   Lynx_330 Lynx
including 1061.8 1062.1 0.3 64.1  
and 1064.0 1064.3 0.3 92.8  
OSK-W-20-2283-W3 870.0 872.0 2.0 11.2   Triple Lynx Triple Lynx
including 871.1 871.5 0.4 41.8  
  984.6 987.0 2.4 4.47   Triple Lynx Triple Lynx
including 985.5 986.0 0.5 20.5  
  991.4 993.5 2.1 36.5   Triple Lynx Triple Lynx

including 992.0 992.8 0.8 95.7  
OSK-W-20-2287 1158.9 1161.0 2.1 7.64   Lynx_346 Lynx
OSK-W-20-2292-W4 884.3 888.8 4.5 30.9 21.7 Lynx_375 Triple Lynx
including 887.3 888.0 0.7 159 100
OSK-W-20-2301 94.7 96.7 2.0 8.14   F17_6003 F-17
including 96.0 96.7 0.7 21.6  
  101.2 103.6 2.4 3.54   F17_6003 F-17
including 101.2 101.7 0.5 16.9  
OSK-W-20-2306 199.5 205.3 5.8 7.48   Bobcat Bobcat
including 202.3 202.8 0.5 43.8  
OSK-W-20-2313-W2 979.3 981.4 2.1 8.56   Triple Lynx Triple Lynx
including 979.8 980.2 0.4 21.8  
OSK-W-20-2319 210.0 212.0 2.0 4.83   Bobcat Bobcat
OSK-W-20-2325 128.0 130.8 2.8 35.1 25.6 Mallard_5200 Mallard
including 130.1 130.8 0.7 138 100
  143.6 145.8 2.2 13.1   Mallard_5213 Mallard
OSK-W-20-2326 82.0 86.0 4.0 9.47   Mallard_5213 Mallard
including 82.0 83.0 1.0 29.5  
OSK-W-20-2327 94.0 96.7 2.7 14.1   Mallard_5213 Mallard
including 96.0 96.7 0.7 33.7  
OSK-W-20-2328 177.0 182.5 5.5 6.50   Caribou_2527 Caribou
OSK-W-20-2330 137.7 140.0 2.3 9.57   Mallard_5213 Mallard
including 138.8 139.4 0.6 35.1  
OSK-W-20-2332 191.7 194.7 3.0 6.03   Mallard_5213 Mallard
OSK-W-20-2346 892.0 894.2 2.2 12.2   Lynx_330 Lynx
including 893.5 893.8 0.3 78.5  
OSK-W-20-2354 653.3 655.9 2.6 5.39   Caribou_2233 Caribou
including 654.1 654.5 0.4 19.7  
OSK-W-20-2362 137.0 139.0 2.0 4.19   Bobcat Bobcat
OSK-W-20-2377 105.0 108.0 3.0 76.7 22.7 F17_6003 F-17
including 106.0 106.4 0.4 505 100
OSK-W-20-2384 644.5 646.9 2.4 26.2   Lynx_341 Lynx
including 645.3 645.9 0.6 96.5  
OSK-W-20-2389 589.0 591.0 2.0 5.72   Caribou Caribou
WST-20-0011 278.8 280.8 2.0 15.5   Lynx SW Lynx SW
WST-20-0346 29.0 31.0 2.0 4.57   Mallard_5212 Mallard
WST-20-0347 270.0 272.9 2.9 3.31   Caribou_2572 Caribou
including 272.1 272.9 0.8 11.4  
WST-20-0348 237.6 239.7 2.1 7.49   Caribou_2573 Caribou
  271.5 273.5 2.0 4.68   Caribou_2572 Caribou
including 272.5 272.9 0.4 22.6  
WST-20-0349 293.2 296.0 2.8 3.64   Caribou_2572 Caribou
including 294.0 295.0 1.0 9.56  
WST-20-0476 154.9 157.1 2.2 4.85   Caribou_2551 Caribou
including 154.9 155.6 0.7 11.9  
  172.9 175.5 2.6 3.33   Caribou_2551 Caribou
WST-20-0477 151.5 154.0 2.5 5.90   Caribou_2551 Caribou
WST-20-0480B 60.0 62.0 2.0 12.3   Mallard_5211 Mallard
WST-20-0518 168.0 170.0 2.0 4.53   Z27_1102 Zone 27
WST-20-0520 63.5 66.0 2.5 5.53   Mallard_5211 Mallard
  81.5 84.0 2.5 12.3   Mallard_5211 Mallard
including 82.4 82.7 0.3 94.8  
  157.0 159.3 2.3 4.53   Z27_1102 Zone 27
  352.4 354.4 2.0 11.8   Caribou_2253 Caribou
including 352.8 353.9 1.1 21.2  
WST-20-0533 96.0 98.1 2.1 7.13   Lynx_304 Lynx
including 97.2 98.1 0.9 16.6  
WST-20-0534 69.0 71.0 2.0 21.4   Lynx_323 Lynx
including 70.2 71.0 0.8 53.5  
WST-20-0535 46.9 49.1 2.2 5.83   Lynx_303 Lynx
including 46.9 47.5 0.6 18.1  
WST-20-0536 83.0 85.0 2.0 17.9   Lynx Lynx
including 83.4 83.8 0.4 84.1  
WST-20-0549 11.0 13.0 2.0 12.3   Mallard_5211 Mallard
  263.0 265.0 2.0 5.39   Caribou_2518 Caribou
  269.5 271.5 2.0 3.94   Caribou_2518 Caribou
  306.0 308.0 2.0 3.26   Caribou_2521 Caribou
including 307.2 308.0 0.8 7.40  
  373.9 377.0 3.1 4.60   Caribou_2542 Caribou
WST-20-0565 11.0 13.2 2.2 11.6   Mallard_5211 Mallard
including 11.6 12.4 0.8 24.0  
WST-20-0566A 306.4 311.7 5.3 9.25   Caribou_2521 Caribou
including 307.3 308.3 1.0 36.2  
WST-20-0568 295.9 298.0 2.1 7.62   Lynx SW Lynx SW
including 296.6 297.4 0.8 15.7  
  317.0 319.0 2.0 3.94   Lynx SW Lynx SW
including 317.7 318.1 0.4 19.5  
WST-20-0582 103.1 106.0 2.9 7.01   Lynx_339 Lynx
  129.5 131.5 2.0 9.97   Lynx_311 Lynx
including 130.0 131.0 1.0 19.9  
WST-20-0586 99.5 101.5 2.0 6.81   Lynx_311 Lynx
  141.0 143.1 2.1 20.0   Lynx Lynx
including 142.2 142.7 0.5 79.3  
  160.0 162.5 2.5 14.4   Lynx_359 Lynx
including 161.3 161.8 0.5 54.1  
WST-20-0587 165.0 167.2 2.2 3.33   Lynx_304 Lynx
including 166.6 167.2 0.6 10.9  
WST-20-0589 63.5 65.6 2.1 8.09   Mallard_5211 Mallard
  330.4 332.4 2.0 6.21   Caribou_2253 Caribou

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. SW = Southwest

Drill hole location

Hole Number Azimuth (°) Dip (°) Length (m) UTM E UTM N Elevation Section
OSK-W-20-847-W3 334 -69 649 452645 5434429 403 2625
OSK-W-20-852-W4 330 -55 873 452874 5434552 398 2875
OSK-W-20-2256-W7 125 -51 1005 453160 5435686 411 3675
OSK-W-20-2271-W3 120 -53 1235 453462 5435683 410 3950
OSK-W-20-2283-W3 135 -50 1004 452997 5435607 425 3500
OSK-W-20-2287 116 -53 1406 453607 5435714 404 4075
OSK-W-20-2292-W4 125 -54 984 453035 5435561 420 3525
OSK-W-20-2301 149 -49 140 452696 5435534 410 3200
OSK-W-20-2306 152 -55 531 452872 5435155 409 3175
OSK-W-20-2313-W2 134 -52 1047 452965 5435583 420 3450
OSK-W-20-2319 141 -50 768 452872 5435153 409 3175
OSK-W-20-2325 331 -53 171 451946 5434809 406 2200
OSK-W-20-2326 335 -50 156 451920 5434828 403 2175
OSK-W-20-2327 334 -49 132 451899 5434812 401 2150
OSK-W-20-2328 136 -56 942 452872 5435153 409 3175
OSK-W-20-2330 333 -48 156 451912 5434792 402 2150
OSK-W-20-2332 335 -49 222 452019 5434790 406 2250
OSK-W-20-2346 130 -53 1161 453397 5435557 413 3825
OSK-W-20-2354 336 -60 759 452739 5434474 401 2725
OSK-W-20-2362 350 -45 256 452719 5434777 398 2850
OSK-W-20-2377 132 -49 1326 452702 5435548 409 3225
OSK-W-20-2384 127 -52 1164 453397 5435557 413 3825
OSK-W-20-2389 328 -57 701 452689 5434635 398 2750
WST-20-0011 157 -54 451 453105 5435065 231 3325
WST-20-0346 136 -18 391 452282 5434975 264 2575
WST-20-0347 134 -14 369 452282 5434975 264 2575
WST-20-0348 127 -14 311 452282 5434976 264 2575
WST-20-0349 140 -19 378 452282 5434975 263 2575
WST-20-0476 132 -33 403 452282 5434975 263 2575
WST-20-0477 131 -30 394 452282 5434976 263 2575
WST-20-0480B 142 -52 382 452281 5434975 262 2575
WST-20-0518 135 -53 441 452282 5434975 263 2575
WST-20-0520 133 -46 388 452281 5434975 263 2575
WST-20-0533 143 -26 133 453315 5435165 124 3575
WST-20-0534 143 -32 135 453315 5435165 124 3575
WST-20-0535 143 -37 138 453315 5435165 124 3575
WST-20-0536 132 -27 135 453316 5435166 124 3575
WST-20-0549 141 -13 396 452208 5434898 249 2475
WST-20-0565 134 -12 354 452208 5434898 249 2475
WST-20-0566A 133 -16 368 452208 5434898 248 2475
WST-20-0568 158 -58 493 453104 5435065 231 3325
WST-20-0582 176 -56 144 453177 5435125 173 3425
WST-20-0586 167 -13 193 453418 5435305 69 3725
WST-20-0587 145 -43 205 453418 5435305 69 3725
WST-20-0589 147 -55 376 452281 5434975 263 2575

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 occurs as quartz-carbonate-pyrite-tourmaline vein-type 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.

Zone 27

Mineralization is typically characterized by 5% to 50% disseminated, stringer, semi-massive or stockwork pyrite, ptygmatic tourmaline veins, quartz-tourmaline crustiform veins, and local quartz-carbonate veins. Local visible gold is observed as small specks or clusters with quartz veins. Alteration consists of moderate to strong sericite, weak to strong silica, weak chlorite and carbonate and locally weak fuchsite. Mineralization is hosted in strongly altered andesites or in or at the contact of the rhyolite.

Caribou Zone

Mineralization most commonly occurs in gold-bearing pyrite stockworks as well as semi-massive pyrite replacement zones associated with phyllic alteration (sericite-pyrite ± silica) with sulphides, pyrite dominated with minor chalcopyrite and sphalerite ranging from trace to up to 20%, and local visible gold. Mineralization is hosted in rhyolites or mafic-intermediate volcanics frequently at or near faults or the contact with felsic porphyritic intrusions.

F-Zone

Mineralization is hosted in sheared andesites with carbonate replacement or quartz veining and occurs as quartz ± ankerite veinlets or in shear zones as replacement, characterised by trace to 10% pyrite with local visible gold. Alteration is dominated by sericite-fuchsite-tourmaline-pyrite.

Mallard

Mineralization is hosted in sheared mafic volcanics with felsic porphyritic intrusions and occurs as veins associated with sericite-pyrite ± silica ± chlorite alteration and contains pyrite ranging from trace to 30% and local visible gold.

Bobcat

Mineralization most commonly occurs in gold-bearing quartz-pyrite veins controlled by northeast trending faults and shears and to a lesser extent in minor crustiform quartz-tourmaline-ankerite-pyrite veins and pyrite replacement zones and stockwork. Local visible gold is associated with carbonate ± silica ± chlorite alteration. Mineralization is hosted in sheared mafic volcanics, rhyolites near faults, or at the contact with felsic porphyritic intrusions.

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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