TORONTO, Jan. 11, 2021 (GLOBE NEWSWIRE) -- Osisko Mining Inc. (OSK:TSX. "Osisko" or the "Corporation") is pleased to provide new analytical results from the ongoing 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: “Today’s new intersections are all from outside the published 2020 resource area and highlight the strong upside growth potential of our deposit. Step-out drilling remains focused on the open down plunge areas of known mineralized corridors in the Lynx area as well as some other high potential areas.”

The table below shows intercepts located outside the February 2020 mineral resource estimate wireframes (see Osisko news release dated February 19, 2020). These intercepts either expand the resource wireframes or are located in a defined zone/corridor but not yet correlated to a specific wireframe. Significant new analytical results are presented below and include 80 intercepts in 27 drill holes and 22 wedges.

Selected high-grade intercepts from the new results include: 344 g/t Au over 2.2 metres in OSK-W-20-2313-W2; 114 g/t Au over 2.6 metres in OSK-W-20-2280-W5; 90.2 g/t Au over 2.0 metres in WST-20-0380; 74.2 g/t Au over 2.2 metres in OSK-W-19-1949-W3; and 26.7 g/t Au over 7.0 metres in WST-20-0078. Maps showing hole locations and full analytical results are available at www.osiskomining.com

Expansion Drilling

Hole No.From
(m)
To
(m)
Interval
(m)
Au (g/t)
uncut
Au (g/t)
cut to 100 g/t
ZoneCorridor
OSK-W-19-1949-W3737.4739.62.274.247Lynx
Lynx
including737.4737.80.4133100
and737.8738.30.5194100
OSK-W-20-2133-W4946.6951.75.13.47 Lynx_331Lynx
 956.7960.13.423.2 Lynx_331
Lynx
including957.7958.71.060.6 
OSK-W-20-2139-W12873.4875.42.010.2 Triple LynxTriple Lynx
 998.01000.02.05.67 Triple LynxTriple Lynx
OSK-W-20-2170-W61367.81370.02.26.61 Lynx 4Lynx
 1379.01381.02.014.5 Lynx 4Lynx
OSK-W-19-218297.099.02.09.65 LynxLynx
OSK-W-20-22511836.01838.02.021.020.3Triple Lynx
Triple Lynx
including1836.91837.30.4104100
 1908.61910.62.05.24 Triple Lynx
Triple Lynx
including1908.61909.20.615.9 
OSK-W-20-2251-W12112.02114.02.08.45 Lynx 4Lynx
OSK-W-20-2252-W41059.01061.02.012.5 Triple LynxTriple Lynx
 1100.21104.94.76.74 Triple Lynx
Triple Lynx
including1100.21100.60.422.7 
and1104.31104.90.633.2 
 1109.41113.64.219.2 Triple Lynx
Triple Lynx
including1111.01111.70.740.6 
OSK-W-20-2252-W51017.71020.02.38.54 Triple Lynx
Triple Lynx
including1018.51019.00.535.3 
OSK-W-20-2256-W61051.01054.03.012.0 Triple Lynx
Triple Lynx
including1052.11053.00.937.7 
OSK-W-20-2264814.8821.87.011.7 Lynx 4
Lynx
including816.3816.80.531.4 
and818.8819.60.857.5 
 863.3865.32.06.29 Lynx 4Lynx
OSK-W-20-2271-W1752.1754.22.15.05 LynxLynx
 784.3786.52.24.38 LynxLynx
 840.1842.22.14.57 Lynx
Lynx
including841.9842.20.319.7 
 1032.01034.02.026.3 Lynx 4
Lynx
including1033.01033.50.597.5 
 1049.01051.02.07.98 LynxLynx
OSK-W-20-2271-W2814.0816.92.96.00 LynxLynx
OSK-W-20-2280-W21059.81062.02.230.7 Triple Lynx
Triple Lynx
including1060.81062.01.253.2 
OSK-W-20-2280-W5976.8979.42.611429.3Lynx_368
Triple Lynx
including976.8977.50.7416100
 1070.01074.04.022.0 Triple Lynx
Triple Lynx
including1072.31073.20.952.3 
OSK-W-20-2283-W2945.0947.02.015.7 Triple Lynx
Triple Lynx
including946.0947.01.031.1 
OSK-W-20-2292-W1559.2561.52.311.6 Triple LynxTriple Lynx
 1014.61016.62.05.46 Triple LynxTriple Lynx
 1115.01117.02.04.39 Triple LynxTriple Lynx
 1122.61125.02.412.6 Triple Lynx
Triple Lynx
including1123.81124.50.728.1 
OSK-W-20-2292-W2560.0562.02.06.43 Triple Lynx
Triple Lynx
including560.0560.50.521.2 
OSK-W-20-2295-W1477.6479.72.120.4 Lynx_365
Triple Lynx
including477.9478.50.669.8 
 805.0807.02.017.5 Triple Lynx
Triple Lynx
including805.5806.40.936.3 
OSK-W-20-2295-W2477.0479.12.13.60 Lynx_365Triple Lynx
 826.2828.22.013.0 Triple Lynx
Triple Lynx
including827.6828.20.638.3 
OSK-W-20-2295-W3689.0691.02.07.23 Triple Lynx
Triple Lynx
including689.5690.00.527.4 
OSK-W-20-2295-W4757.0759.32.34.08 Triple Lynx
Triple Lynx
including757.0757.50.510.1 
 1026.01028.12.116.3 Triple Lynx
Triple Lynx
including1027.61028.10.565.5 
OSK-W-20-2313864.0870.06.05.58 Triple Lynx
Triple Lynx
including864.0864.60.623.8 
 1035.41037.62.213.0 Triple Lynx
Triple Lynx
including1036.41037.00.647.4 
OSK-W-20-2313-W2645.8648.02.234413.7Triple Lynx
Triple Lynx
including647.1647.40.32520100
OSK-W-20-2313-W3849.7852.02.312.9 Triple Lynx
Triple Lynx
including850.2850.50.398.8 
OSK-W-20-2313-W6730.0732.02.04.13 Triple LynxTriple Lynx
OSK-W-20-2317621.0623.02.07.24 Triple LynxTriple Lynx
 662.0664.22.23.81 Triple Lynx
Triple Lynx
including663.7664.20.513.1 
 741.0743.42.45.05 Triple Lynx
Triple Lynx
including741.8742.40.619.8 
OSK-W-20-2319514.0516.72.719.1 Lynx
Lynx
including514.0514.40.488.7 
 589.4591.92.521.920.7Lynx
Lynx
including591.4591.90.5106100
OSK-W-20-2328525.0527.02.06.68 Lynx SW

Lynx SW

including525.0526.01.013.1 
 669.0671.72.76.43 Lynx SW
Lynx SW
including670.4670.70.345.8 
 859.5861.52.09.69 Lynx 4
Lynx
including860.4861.00.631.1 
OSK-W-20-2334728.0730.32.37.87 LynxLynx
OSK-W-20-2339933.0935.02.05.27 Triple LynxTriple Lynx
 944.0946.02.05.05 Triple LynxTriple Lynx
OSK-W-20-2351699.0701.02.09.84 Lynx_376
Triple Lynx
including699.7700.20.537.6 
OSK-W-20-2353978.8981.02.23.80 Triple Lynx
Triple Lynx
including978.8979.30.511.6 
 1295.21297.32.14.49 Triple LynxTriple Lynx
OSK-W-20-2370109.1111.62.53.80 Lynx SWLynx SW
WST-20-0012D305.6308.02.44.47 Lynx SWLynx SW
 317.0319.02.018.0 Lynx SW
Lynx SW
including317.6318.30.748.7 
 394.5396.52.06.59 Lynx SW
Lynx SW
including395.3395.90.621.4 
WST-20-0078263.4270.47.026.7 Triple LynxTriple Lynx
 310.6312.92.34.83 Triple LynxTriple Lynx
 417.0419.12.13.46 Lynx SWLynx SW
WST-20-0330383.8386.12.35.00 Lynx SW
Lynx SW
including385.2385.60.428.6 
WST-20-038014.016.02.090.250.2Lynx
Lynx
including15.016.01.0180100
WST-20-0401141.0143.02.04.33 Lynx_301Lynx
WST-20-042559.061.72.73.73 LynxLynx
WST-20-0475155.0157.62.616.6 Lynx_301
Lynx
including155.7156.30.665.6 
WST-20-048238.040.42.44.25 LynxLynx
WST-20-048544.246.42.23.97 Lynx_325Lynx
WST-20-0489277.0279.02.06.36 Triple LynxTriple Lynx
WST-20-0516106.0108.02.05.56 LynxLynx
WST-20-0523A310.0312.02.07.57 Lynx SWLynx SW
WST-20-0529214.8217.42.68.53 Lynx
Lynx
including215.5215.80.319.0 
 227.9230.12.28.48 Lynx
Lynx
including227.9228.40.528.0 
WST-20-0541116.1118.22.18.87 Lynx_359
Lynx
including116.1116.70.630.4 
WST-20-0546A234.0238.04.04.10 Lynx SW
Lynx SW
including237.7238.00.317.6 

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 NumberAzimuth
(°)
Dip
(°)
Length
(m)
UTM EUTM NElevationSection
OSK-W-19-1949-W3105-57132645344054354794013825
OSK-W-20-2133-W4118-4998745308054355314173525
OSK-W-20-2139-W12115-52103845298054355494203450
OSK-W-20-2170-W6128-59140745342554356574133900
OSK-W-19-2182132-5014145350554354283993850
OSK-W-20-225196-53205345326154359364073900
OSK-W-20-2251-W196-53227845326154359364073900
OSK-W-20-2252-W4129-54114345324154356944153750
OSK-W-20-2252-W5129-54109245324154356944153750
OSK-W-20-2256-W6125-51115745316054356864113675
OSK-W-20-2264292-74111945412754350623964225
OSK-W-20-2271-W1120-53120045346254356834103950
OSK-W-20-2271-W2120-53122345346254356834103950
OSK-W-20-2280-W2127-58121145330454356394153775
OSK-W-20-2280-W5127-58113445330454356394153775
OSK-W-20-2283-W2135-50101145299754356074253500
OSK-W-20-2292-W1125-54114945303554355614203525
OSK-W-20-2292-W2125-54100245303554355614203525
OSK-W-20-2295-W1132-5196045293354354734153375
OSK-W-20-2295-W2132-5196345293354354734153375
OSK-W-20-2295-W3132-5196945293354354734153375
OSK-W-20-2295-W4132-51108245293354354734153375
OSK-W-20-2313134-52108045296554355834203450
OSK-W-20-2313-W2134-52104745296554355834203450
OSK-W-20-2313-W3134-52104145296554355834203450
OSK-W-20-2313-W6134-52102945296554355834203450
OSK-W-20-2317129-5590045302654354074123425
OSK-W-20-2319141-5076845287254351534093175
OSK-W-20-2328136-5694245287254351534093175
OSK-W-20-2334125-53116645339754355574133825
OSK-W-20-2339144-50102545296154354414143400
OSK-W-20-2351141-49110745289554355394103375
OSK-W-20-2353129-50133845273254355704053250
OSK-W-20-2370351-4629745272154347473972850
WST-20-0012D174-6246545322654351261343475
WST-20-0078154-6252545322754351251343475
WST-20-0330183-3442245322654351251353475
WST-20-0380159118545322854351261363475
WST-20-04011592916245349354352871193775
WST-20-04251611816645335854352081563625
WST-20-04751354117445349454352871203775
WST-20-0482165918145344954352641173725
WST-20-0485148-4418145335954352091543625
WST-20-0489174-314154532565435209963525
WST-20-0516168-331954534185435305693725
WST-20-0523A166-4638745310454350652313325
WST-20-0529305-424264534145435310693725
WST-20-0541150-2813845331554351651243575
WST-20-0546A175-5148445322854351261353475

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 an Aqua Regia-ICP-AES 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