Osisko Mining Windfall Infill Drilling (90.5 g/t Au over 9.7 meters)

New Intercepts Embrace 90.5 g/t Au Over 9.7 Metres in Triple Lynx

TORONTO, Jan. 18, 2021 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX. “Osisko” or the “Company”) is happy to offer new analytical outcomes from the continued enlargement and definition drill program at its 100% owned Windfall gold venture situated within the Abitibi greenstone belt, City Township, Eeyou Istchee James Bay, Québec.

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Drilling is at the moment targeted on the Lynx deposit. Osisko Chief Government Officer John Burzynski commented: “Damaged report alert, infill drilling continues to point out each the continuity and high-grade nature of Lynx, persistently returning good outcomes on grade and widths as demonstrated by at this time’s headline gap. We’re advancing our work on the deposit at full velocity, with over 35 drills energetic on floor and underground.”

The desk beneath accommodates useful resource definition infill intercepts situated contained in the February 2020 mineral useful resource estimate wireframes (see Osisko information launch dated February 19, 2020). Important new analytical outcomes are introduced beneath and embody 46 intercepts in 17 drill holes and 14 wedges.

Chosen high-grade intercepts from the brand new outcomes embody: 90.5 g/t Au over 9.7 meters in OSK-W-20-2252-W7; 59.5 g/t Au over 2.0 metres in OSK-W-20-2292-W5; 38.4 g/t Au over 5.5 meters in OSK-W-20-2252-W8; 37.1 g/t Au over 2.0 metres in WST-20-0542A; 32.2 g/t Au over 3.7 metres in OSK-W-20-2243-W6. Maps displaying gap areas and full analytical outcomes can be found at www.osiskomining.com.

Notes: True widths are estimated at 55 – 80% of the reported core size interval. See “High quality Management and Reporting Protocols” beneath.
SW= Southwest

Drill gap location

Lynx Zone

Mineralization happens as gray to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite substitute zones and stockworks. The vein-type is related to haloes of pervasive sericite-pyrite ± silica alteration and comprise sulphides (predominantly pyrite with minor quantities of chalcopyrite, sphalerite, galena, arsenopyrite, and pyrrhotite) and native seen gold. Alternative mineralization is related to robust pervasive silica-sericite-ankerite ± tourmaline alteration and accommodates disseminated pyrite from hint to 80% with native seen gold. Pyrite stockworks can kind envelopes that attain a number of tens of metres thick. Fuchsite alteration is frequent and is spatially constrained to close the gabbros. Mineralization happens at or close to geological contacts between felsic porphyritic or fragmental intrusions and the host rhyolites or gabbros and domestically could be hosted alongside the gabbro-rhyolite contact.

Triple Lynx

Mineralization within the Triple Lynx zone is vein-type, quartz-carbonate-pyrite-tourmaline veins, related to pervasive sericite-pyrite ± silica alteration and comprise sulphides much like the principle Lynx Zone, pyrite dominated with minor different sulphides, starting from hint to as much as 70% domestically, and native seen gold. Domestically fuchsite is current when proximal to the gabbros. Mineralization is hosted in or on the contacts of felsic porphyritic dikes with rhyolites (domestically bleached) or gabbros.

Certified Particular person

The scientific and technical content material of this information launch has been reviewed, ready and authorized by Mr. Louis Grenier, M.Sc.A., P.Geo. (OGQ 800), Mission Supervisor of Osisko’s Windfall Lake gold venture, who’s a “certified individual” as outlined by Nationwide Instrument 43-101 – Requirements of Disclosure for Mineral Initiatives (“NI 43-101”).

High quality Management and Reporting Protocols

True width willpower is estimated at 55-80% of the reported core size interval for the zone. Assays are uncut besides the place indicated. Intercepts happen inside geological confines of main zones however haven’t been correlated to particular person vein domains at the moment. Reported intervals embody minimal weighted averages of three.0 g/t Au diluted over core lengths of no less than 2.0 metres. All NQ core assays reported have been obtained by both 1-kilogram display fireplace assay or normal 50-gram fire-assaying-AA end or gravimetric end 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 display assay methodology is chosen by the geologist when samples comprise coarse gold or current the next share of pyrite than surrounding intervals. Chosen samples are additionally analyzed for multi-elements, together with silver, utilizing a 4 acids digestion -MS61 methodology at ALS Laboratories. Drill program design, High quality Assurance/High quality Management (“QA/QC”) and interpretation of outcomes is carried out by certified individuals using a QA/QC program per NI 43-101 and business finest practices. Requirements and blanks are included with each 20 samples for QA/QC functions by the Company in addition to the lab. Roughly 5% of pattern pulps are despatched to secondary laboratories for examine assay.

In regards to the Windfall Gold Deposit
The Windfall gold deposit is situated between Val-d’Or and Chibougamau in Eeyou Istchee James Bay, Québec, Canada. The mineral useful resource outlined by Osisko, as disclosed within the information launch dated February 19, 2020 and supported by the technical report entitled “An up to date mineral useful resource estimate for the Windfall Lake Mission, Positioned within the Abitibi Greenstone Belt, City Township, Eeyou Istchee James Bay, Québec, Canada” and dated April 3, 2020 (with an efficient date of January 3, 2020), and assuming a cut-off grade of three.5 g/t, contains 4,127,000 tonnes at 9.1 g/t Au (1,206,000 ounces) within the indicated mineral useful resource class and 14,532,000 tonnes at 8.40 g/t Au (3,938,000 ounces) within the inferred mineral useful resource class. The important thing assumptions, parameters and strategies used to estimate the mineral useful resource estimate disclosed within the February 19,2020 information launch are additional described within the full technical report ready by Micon Worldwide Restricted (“Micon”) and BBA Inc (“BBA”), in accordance with NI 43-101 out there on SEDAR (www.sedar.com) underneath the Company’s issuer profile. The Windfall gold deposit is at the moment one of many highest-grade resource-stage gold initiatives in Canada and has world-class scale. Mineralization happens in three principal zones: Lynx, Essential Zone, and Underdog. Mineralization is usually comprised of deformed sub-vertical zones plunging to the northeast. Vein-type or pyrite replacement-type types of mineralization crosscut syn-volcanic host rocks and syn-deformation felsic porphyry intrusions and are spatially related to the contacts of the intrusions. The deposit is nicely outlined from floor to a depth of 1,200 metres and stays open alongside strike and at depth. Mineralization has been recognized 30 metres from floor in some areas and as deep as 2,000 metres in others, with vital potential to increase mineralization down-plunge and at depth.

About Osisko Mining Inc.

Osisko is a mineral exploration firm targeted on the acquisition, exploration, and growth of treasured steel useful resource properties in Canada. Osisko holds a 100% curiosity within the high-grade Windfall gold deposit situated between Val-d’Or and Chibougamau in Québec and holds a 100% undivided curiosity in a massive space of claims in the surrounding City Barry space and close by Quévillon space (over 2,700 sq. kilometres).

Cautionary Be aware Concerning Ahead-Wanting Info

This information launch accommodates “forward-looking data” throughout the that means of the relevant Canadian securities laws that’s primarily based on expectations, estimates, projections and interpretations as on the date of this information launch. Any assertion that includes predictions, expectations, interpretations, beliefs, plans, projections, targets, assumptions, future occasions or efficiency (typically, however not at all times, utilizing phrases resembling “expects”, or “doesn’t anticipate”, “is predicted”, “interpreted”, “administration’s view”, “anticipates” or “doesn’t anticipate”, “plans”, “price range”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such phrases and phrases or stating that sure actions, occasions or outcomes “might” or “may”, “would”, “would possibly” or “will” be taken to happen or be achieved) will not be statements of historic truth and could also be forward-looking data and are meant to determine forward-looking data. This information launch accommodates the forward-looking data pertaining to, amongst different issues: the Windfall gold deposit being one of many highest-grade resource-stage gold initiatives in Canada and having world-class scale; the important thing assumptions, parameters and strategies used to estimate the mineral useful resource estimate; the prospects, if any, of the Windfall gold deposit; the timing and talent of Osisko, if in any respect, to publish a feasibility research for the Windfall gold deposit; the projected capital expenditures of mining actions on the Windfall gold deposit; upgrading an inferred mineral useful resource to a measured mineral useful resource or indicated mineral useful resource class; future drilling on the Windfall gold deposit; the deposit remaining open alongside strike to the northeast and at depth; vital high-grade zones (Lynx 4, Triple Lynx) remaining open down plunge; the plunge potential of the Lynx and Underdog zones; the importance of historic exploration actions and outcomes. Such elements embody, amongst others, dangers regarding the flexibility of exploration actions (together with drill outcomes) to precisely predict mineralization; errors in administration’s geological modelling; the flexibility of Osisko to finish additional exploration actions, together with drilling; property and royalty pursuits within the Windfall gold deposit; the flexibility of the Company to acquire required approvals; the outcomes of exploration actions; dangers regarding mining actions; the worldwide financial local weather; steel costs; dilution; environmental dangers; and neighborhood and non-governmental actions. Though the forward-looking data contained on this information launch relies upon what administration believes, or believed on the time, to be affordable assumptions, Osisko can’t guarantee shareholders and potential purchasers of securities of the Company that precise outcomes will probably be per such forward-looking data, as there could also be different elements that trigger outcomes to not be as anticipated, estimated or meant, and neither Osisko nor another individual assumes duty for the accuracy and completeness of any such forward-looking data. Osisko doesn’t undertake, and assumes no obligation, to replace or revise any such forward-looking statements or forward-looking data contained herein to replicate new occasions or circumstances, besides as could also be required by legislation.

CONTACT INFORMATION:
John Burzynski
Chief Government Officer
Phone (416) 363-8653