Osisko Mining Inc. (TSX:OSK) ("Osisko" or the "Corporation") is pleased to announce new results from the ongoing 150,000 metre drill program at its 100% owned Windfall Lake gold project located in the Urban Township, Québec. The recently commenced expansion program included step-out drilling along fences located 200, 400, 600 and 800 metres northeast of the main deposit. The program is testing a linear magnetic depression that is interpreted to be related to a magnetite destructive silica-sericite alteration corridor associated with the Windfall intrusive system. The linear structure currently being investigated with the step out drilling is parallel to the Windfall deposit and extends for an additional 2600 metres northeast of the deposit. The magnetic feature was identified in the high-resolution airborne magnetic survey conducted earlier in the year by Osisko.
Initial drill holes have been completed on the first three step out lines extending 600 metres from the last known mineralized intercept in the main deposit. The initial holes on all three lines have encountered mineralized zones characteristic of the main Windfall deposit, providing strong support for management's view that the deposit continues along the extension program area. Assays are pending from the drill holes on the 200 and 400 metre step out lines and for the lower half of the drill hole reported today. The 800 metre step out fence will commence shortly. Initial analytical results presented below are from DDH OSK-W-16-760, one of the first drill holes located on the 600 metre fence, which intersected 65.0 g/t Au over 5.7 metres (148 g/t Au over 5.7 metres uncut) at a vertical depth of 200 metres. The mineralization and alteration is very similar to known zones in the Windfall deposit, consisting of a strong dark silica breccia and flooding with pyrite stringers and abundant visible gold.
This new discovery provides support for the significant potential of the northeast area of the Windfall deposit which Osisko believes may, with data from more systematic drilling, lead to a measurable increase in the scale of the previously defined mineralized system. The strong potential for further extensions of the deposit in the northeast trending magnetic depression is further corroborated by these new results, and will be a new focus of ongoing exploration drilling at Windfall. Details of the new drill intercept are presented below. Maps and sections showing the location of DDH OSK-W-16-760 are available at www.osiskomining.com.
Full analytical results from the new drill holes are available at www.osiskomining.com.
The scientific and technical content of this news release has been reviewed, prepared and approved by Mr. Jean-Philippe Desrochers, Ph.D., P.Geo. Senior 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 ("NI 43-101").
Additional drilling is planned for the immediate area which will enable the true width determination. Assays are uncut except where indicated. All NQ core assays reported were obtained by either 1 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, Québec or Sudbury, Ontario. The 1 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 multi-elements, including silver, using an Aqua Regia-ICP-AES method at ALS laboratories. Drill program design, Quality Assurance/Quality Control and interpretation of results is performed by qualified persons employing a Quality Assurance/Quality Control program consistent with NI 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% of sample pulps are sent to secondary laboratories for check assays.