Osisko Gold Royalties Ltd (“Osisko” or the “Company”) is pleased to announce that Osisko Mining Inc. (“Osisko Mining”) has reported significant high-grade drill results at its Windfall gold project (“Windfall”). Today, Osisko Mining announced1 a diamond drill intercept that graded 1,475 grams per tonne uncut over 4.6 meters at Windfall’s Lynx zone representing one of the best intercepts at the project to date.
Sean Roosen, Chair and CEO of Osisko stated: “We would like to extend our congratulations to the Osisko Mining team, led by John Burzynski, for this excellent achievement and also for having delivered very positive results from the Lynx bulk sample announced last week (see Osisko Mining’s news release dated December 12, 2019). The Windfall project will deliver substantial benefits to the province of Québec, the area’s First Nations communities and other stakeholders.”
Osisko owns a 1.5% net smelter return (“NSR”) royalty on Windfall (“Windfall Royalty”). The Company initially acquired a 0.5% NSR royalty in April of 2014 as part of the acquisition of Virginia Mines Inc., and later increased its royalty in October 2016 in a transaction with Osisko Mining where it acquired an additional 1% NSR royalty. The Windfall Royalty provides Osisko with exciting exposure to a large area covering Canada’s next emerging high-grade world-class gold camp.
The scientific and technical content of this news release has been reviewed and approved by Mr. Guy Desharnais, Ph.D., P.Geo., Director of Mineral Resources Evaluation at Osisko Gold Royalties Ltd, 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. Intercepts occur within geological confines of major zones but have not been correlated to individual vein domains at this time. 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 ALS Laboratories. For additional technical details, please refer to Osisko Mining’s press release.