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Osisko Windfall Drilling Returns More High-Grade

Including 512 g/t Au Over 2.4 Metres, 212 g/t Au Over 2.4 Metres in LynxTORONTO, Sept. 07, 2021 (GLOBE NEWSWIRE) — Osisko Mining Inc. (OSK:TSX. "Osisko"…

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Including 512 g/t Au Over 2.4 Metres, 212 g/t Au Over 2.4 Metres in Lynx

TORONTO, Sept. 07, 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.

Significant new analytical results presented below include 142 intercepts in 32 drill holes (16 from surface, 16 from underground) and 24 wedges. The infill intercepts are located inside defined February 2021 mineral resource estimate (“MRE”) blocks (see Osisko news release dated February 17, 2021). The expansion intercepts are located outside the February 2021 MRE blocks and either expand resource wireframes or are in a defined zone or corridor but do not yet correlate to a specific wireframe.

Osisko Chief Executive Officer John Burzynski commented: “Windfall continues to deliver high-grade intercepts, especially in the Lynx and Underdog zones. Infill drilling has consistently delivered throughout our drill campaign, which is winding down this fall as we approach the completion of our drilling for the feasibility study next year. The great potential for growth at Windfall continues to be demonstrated by new high-grade intercepts located outside the February 2021 resource blocks. Windfall has shown its ability to deliver high-grade results time and time again, it’s a strong and consistent mineralized system. As we move to completion of the infill program at Windfall, we are also beginning to move additional drills to the new Golden Bear discovery area and expect to have an update on our progress there in the coming weeks.”

Selected high-grade intercepts include: 512 g/t Au over 2.4 metres in WST-21-0833;   212 g/t Au over 2.4 metres in WST-21-0842; 86.8 g/t Au over 3.4 metres in OSK-W-21-2287-W4; 141 g/t Au over 2.0 metres and 29.0 g/t Au over 5.5 metres in OSK-W-21-2503-W4; 108 g/t Au over 2.3 metres in OSK-W-21-2531-W1; 42.1 g/t Au over 4.8 metres in OSK-W-21-2470; 17.3 g/t Au over 11.4 metres in OSK-W-21-2537-W1; 83.0 g/t Au over 2.0 metres in OSK-W-21-2548-W2, and 57.6 g/t Au over 2.1 metres in WST-21-0854A. Maps showing hole locations and full analytical results are available at www.osiskomining.com.

Infill Drilling

Hole No.From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-20-2292-W6862.7864.82.15.68 TLX_3184Triple Lynx
OSK-W-20-24001051.71054.32.64.57 UDD_4903Underdog
 1060.91063.02.117.7 UDD_4904
Underdog
including1060.91061.91.037.0 
OSK-W-21-1432-W5932.8935.02.23.76 LX4_3437Lynx 4
 943.0946.13.112.5 LX4_3437Lynx 4
OSK-W-21-1827-W51101.71104.73.037.4 UDD_4513
Underdog
including1102.71103.71.085.9 
 1135.01137.02.05.12 UDD_4514Underdog
OSK-W-21-1827-W6503.7505.72.08.94 CA2_2231Caribou
 507.5510.42.915.7 CA2_2231
Caribou
including507.5508.40.942.2 
 514.1516.32.26.59 CA2_2231
Caribou
including514.1514.60.527.2 
 523.8526.12.35.53 CA2_2241
Caribou
including524.8525.30.519.6 
OSK-W-21-1882-W5903.3905.62.316.4 UDD_4515
Underdog
including903.3904.20.939.6 
 957.0959.02.04.30 UDD_4501Underdog
 1020.51023.02.519.2 UDD_4910
Underdog
including1020.51021.40.952.4 
OSK-W-21-1949-W7746.4748.52.127.014.5LXM_3345
Lynx
including746.4746.70.3187100
 1082.01084.02.03.51 LX4_3430Lynx 4
OSK-W-21-2067-W71089.61093.03.47.02 TLX_3162Triple Lynx
OSK-W-21-2287-W41285.21288.63.486.842.1LX4_3449
Lynx 4
including1285.91286.20.3448100
and1286.21286.50.3215100
OSK-W-21-2287-W51252.91254.92.08.28 LX4_3449Lynx 4
 1308.01310.72.723.2 LX4_3445Lynx 4
OSK-W-21-2470965.0969.84.842.134.9TLX_3163
Triple Lynx
including969.2969.80.6158100
OSK-W-21-2479-W6906.0908.02.06.29 UDD_4502
Underdog
including907.0907.50.524.3 
OSK-W-21-2479-W7793.6796.12.55.90 UDD_4107Underdog
OSK-W-21-2479-W8920.7923.02.39.74 UDD_4502
Underdog
including920.7921.10.449.5 
 959.8961.82.08.06 UDD_4910Underdog
OSK-W-21-2503-W4967.1972.65.529.023.3TLX_3163
Triple Lynx
including967.9968.30.4179100
 990.0992.02.017.8 TLX_3164
Triple Lynx
including991.3992.00.739.7 
 1009.01011.02.014120.1TLX_3164
Triple Lynx
including1009.71010.10.4704100
OSK-W-21-2522-W4656.0658.82.812.3 LXM_3304Lynx
OSK-W-21-2531-W1789.0791.02.05.48 UDD_4111
Underdog
including790.0790.70.711.3 
 823.0825.02.05.91 UDD_4110Underdog
 887.6891.53.922.021.1UDD_4101
Underdog
including887.6888.00.4109100
 896.0898.02.012.0 UDD_4100
Underdog
including897.5898.00.531.6 
 901.0903.02.010.7 UDD_4100
Underdog
including901.0902.01.020.5 
 905.7908.02.310843.7UDD_4100
Underdog
including905.7906.71.0247100
 1070.41072.82.48.05 UDD_4501
Underdog
including1072.11072.80.727.3 
 1181.01183.92.99.72 UDD_4512
Underdog
including1182.81183.10.353.0 
OSK-W-21-2532-W1567.9570.32.424.2 CA2_2206
Caribou
including569.2570.31.151.6 
 758.0760.02.03.96 UDD_4121Underdog
 783.0785.02.05.54 UDD_4101Underdog
 800.3804.03.720.2 UDD_4101
Underdog
including802.3803.10.869.7 
 807.9810.02.122.5 UDD_4100Underdog
 815.0817.02.06.57 UDD_4120
Underdog
including816.2816.70.525.6 
 971.0973.02.08.53 UDD_4511
Underdog
including971.0971.50.530.0 
OSK-W-21-2532-W2828.0830.12.140.834.2UDD_4100
Underdog
including829.1829.60.5128100
 887.4889.42.09.66 UDD_4106Underdog
 953.0955.02.06.26 UDD_4107Underdog
 983.6985.92.316.4 UDD_4511
Underdog
including983.6984.00.440.2 
and985.5985.90.453.1 
 1015.21017.52.34.76 UDD_4501Underdog
OSK-W-21-2537909.4914.45.06.90 TLX_3171
Triple Lynx
including912.4913.41.014.9 
 916.9921.24.34.47 TLX_3171Triple Lynx
 925.0928.83.83.92 TLX_3171Triple Lynx
 935.0943.08.011.4 TLX_3161
Triple Lynx
including939.4940.41.042.6 
 1018.01020.02.010.3 TLX_3164
Triple Lynx
including1019.01019.50.530.6 
OSK-W-21-2537-W1559.0561.02.05.91 TLX_3196Triple Lynx
 586.8589.02.211.2 TLX_3178
Triple Lynx
including586.8587.70.927.2 
 901.0903.02.04.91 TLX_3171Triple Lynx
 912.6924.011.417.3 TLX_3171
Triple Lynx
including912.6913.71.152.0 
and918.8919.40.646.5 
OSK-W-21-2544987.6989.62.03.72 TLX_3195
Triple Lynx
including987.6987.90.315.3 
OSK-W-21-2548721.0723.02.022.5 CA2_2220
Caribou
including721.0721.60.673.8 
OSK-W-21-2548-W1758.0760.02.03.86 CA2_2219
Caribou
including759.0760.01.07.67 
OSK-W-21-2548-W2757.0759.02.083.053.0CA2_2219
Caribou
including757.0758.01.0160100
 771.0773.02.08.27 CaribouCaribou
OSK-W-21-2551-W1837.1840.13.010.8 LX4_3414Lynx 4
OSK-W-21-2552600.0602.22.23.60 UDD_4914
Underdog
including600.5600.80.317.9 
 615.8617.92.122.0 UDD_4103
Underdog
including616.6617.50.951.0 
OSK-W-21-2555635.0637.12.17.43 CA2_2223Caribou
OSK-W-21-2556139.0141.02.012.0 F51_6008F-51
OSK-W-21-2560603.9609.45.519.315.0UDD_4914
Underdog
including609.0609.40.4159100
OSK-W-21-2561555.0557.02.03.88 TLX_3178Triple Lynx
 659.9662.93.016.0 TLX_3171Triple Lynx
OSK-W-21-2562656.2658.22.05.48 CA2_2208Caribou
 683.0692.09.011.6 CA2_2217
Caribou
including685.2685.60.497.1 
and688.5689.00.542.3 
OSK-W-21-2566134.0136.02.04.81 F51_6008F-51
OSK-W-21-2567137.7139.82.122.1 F51_6008
F-51
including138.1139.00.943.3 
WST-21-071879.582.12.63.95 LXM_3304
Lynx
including81.782.10.410.0 
WST-21-0772347.0349.02.04.62 TLX_3166
Triple Lynx
including348.4349.00.614.6 
WST-21-0797A599.2601.42.26.53 LX4_3429
Lynx 4
including600.5600.90.425.3 
WST-21-0833278.0280.42.451245.3LHW_3201
Lynx HW
including278.0279.01.01220100
WST-21-0835281.0283.02.04.67 LHW_3221Lynx HW
 328.9331.02.125.7 LHW_3215
Lynx HW
including329.5330.40.956.6 
WST-21-0840713.0715.02.03.72 LX4_3412Lynx 4
WST-21-0842250.6253.02.421242.1TLX_3161
Triple Lynx
including251.1251.60.5917100
WST-21-085083.085.42.46.47 LXM_3339
Lynx
including85.085.40.416.7 
 267.8270.12.38.14 LSW_3500
Lynx SW
including268.3268.90.629.6 
 326.8329.32.510.2 TLX_3166
Triple Lynx
including326.8327.30.549.0 
WST-21-0851A168.6170.72.113.4 LXM_3304
Lynx
including169.1169.40.387.5 
 480.0482.42.46.06 LX4_3430
Lynx 4
including481.8482.40.624.0 
 518.6521.02.45.93 LX4_3440
Lynx 4
including518.6519.40.816.4 
 528.0530.02.05.84 LX4_3434
Lynx 4
including528.5529.00.520.0 
 590.0592.22.24.93 LX4_3439
Lynx 4
including590.0590.60.616.1 
WST-21-0852A127.5129.62.17.07 LXM_3334
Lynx
including128.8129.30.526.1 
 420.1422.32.23.98 LX4_3452
Lynx 4
including420.6421.30.711.3 
 487.2489.22.023.2 LX4_3450
Lynx 4
including487.2487.70.590.7 
 648.0650.02.011.1 LX4_3438
Lynx 4
including649.3649.60.334.7 
 669.7672.22.53.75 LX4_3415
Lynx 4

including669.7670.20.510.4 
WST-21-0853A289.3291.32.06.49 TLX_3161
Triple Lynx
including290.6291.30.716.2 
 347.6349.72.16.72 TLX_3163
Triple Lynx
including348.4349.10.719.0 
WST-21-0854A185.9188.02.157.6 TLX_3161
Triple Lynx
including187.0188.01.093.1 
 300.0302.12.14.59 TLX_3182
Triple Lynx
including300.8301.50.712.8 
 353.7356.02.33.91 TLX_3188
Triple Lynx
including355.3355.60.322.0 
 654.0656.02.010.6 LX4_3448
Lynx 4
including654.8655.20.448.1 
WST-21-0869357.0359.02.012.4 TLX_3167Triple Lynx
 510.6512.92.36.91 LX4_3450Lynx 4
WST-21-0870288.6290.62.013.8 LSW
Lynx SW
including289.8290.20.451.0 
 299.0301.02.018.0 LSW
Lynx SW
including300.1301.00.938.9 
 329.9335.05.119.3 LSW_3556
Lynx SW
including332.4332.70.384.6 
WST-21-0871324.6327.02.44.45 TLX_3131
Triple Lynx
including324.6324.90.335.0 

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below., LXM = Lynx Main, LX4 = Lynx 4, LHW = Lynx Hanging Wall, LSW = Lynx SouthWest, TLX = Triple Lynx and UDD = Underdog, CA2 = Caribou.

Expansion Drilling

Hole No.From (m)To (m)Interval (m)Au (g/t) uncutAu (g/t) cut to 100 g/tZoneCorridor
OSK-W-21-1432-W5895.5898.02.55.81 LX4
Lynx 4
including896.2897.00.817.6 
OSK-W-21-1827-W51087.01089.52.514.7 UDD
Underdog
including1087.01088.01.028.8 
OSK-W-21-2287-W41304.81307.02.24.26 LX4
Lynx 4
including1305.41305.70.319.0 
 1373.01375.02.04.84 LX4Lynx 4
OSK-W-21-2478-W5555.0557.02.04.90 Triple LynxTriple Lynx
OSK-W-21-2479-W7759.0761.02.03.88 UDDUnderdog
OSK-W-21-2513256.2259.02.83.95 F51F51
OSK-W-21-2522-W4697.0700.03.04.68 LynxLynx
OSK-W-21-2532-W1826.6829.12.511.6 Underdog
Underdog
including827.6828.20.647.4 
OSK-W-21-2537971.0975.04.04.33 Triple LynxTriple Lynx
OSK-W-21-2540-W11132.11134.42.34.47 Triple LynxTriple Lynx
 1141.61143.72.14.27 Triple Lynx
Triple Lynx
including1143.41143.70.317.7 
OSK-W-21-2546-W1579.0581.42.44.06 Caribou extension
Caribou
including580.0580.40.423.0 
 631.9635.83.94.27 Caribou extension
Caribou
including631.9632.20.314.6 
and635.1635.80.713.2 
 819.7822.02.34.78 Caribou extension
Caribou
including819.7820.50.811.0 
OSK-W-21-2548731.0733.22.25.08 CaribouCaribou
OSK-W-21-2548-W1790.8792.82.05.99 Caribou
Caribou
including792.4792.80.427.3 
OSK-W-21-2549461.0463.02.013.4 Caribou
Caribou
including461.5461.90.455.5 
 641.5645.03.511.5 Caribou
Caribou
including642.6643.20.637.6 
 705.4708.02.614.7 Caribou
Caribou
including705.4706.10.732.2 
OSK-W-21-2555610.0612.32.33.70 Caribou
Caribou
including611.9612.30.412.7 
OSK-W-21-2559656.0658.02.05.86 CaribouCaribou
OSK-W-21-2562649.9654.84.922.4 Caribou
Caribou
including651.0651.60.648.2 
WST-21-0772242.0244.02.044.7 LSW
Lynx SW
including242.7243.60.999.1 
 249.0251.02.03.63 LSW
Lynx SW
including249.5249.80.323.3 
WST-21-0831160.8163.02.24.45 LSW
Lynx SW
including160.8161.40.615.8 
 403.4405.42.05.45 LSW
Lynx SW
including403.8404.40.617.2 
WST-21-0840343.0345.92.95.91 TLXTriple Lynx
 374.5377.02.511.4 TLXTriple Lynx
WST-21-0850417.7420.02.342.5 LSW
Lynx SW
including417.7418.50.895.6 
WST-21-0852A29.632.02.417.5 Lynx
Lynx
including29.630.20.665.8 
 146.0148.02.04.19 Lynx
Lynx
including146.3146.70.420.4 
WST-21-0854A546.0548.12.14.64 LX4Lynx 4
WST-21-0871570.9573.02.19.34 LX4Lynx 4

Notes: True widths are estimated at 55 – 80% of the reported core length interval. See "Quality Control and Reporting Protocols" below. LX4 = Lynx 4, LSW = Lynx SouthWest, TLX = Triple Lynx, UDD = Underdog.

Drill hole location

Hole NumberAzimuth (°)Dip (°)Length (m)UTM EUTM NElevationSection
OSK-W-20-2292-W6125-54111045303554355614203500
OSK-W-20-2400336-53123045287854344194012825
OSK-W-21-1432-W5132-55104145381154357794004300
OSK-W-21-1827-W5331-58120345250654343904032475
OSK-W-21-1827-W6331-58128145250654343904032475
OSK-W-21-1882-W5328-58107145246954344054002450
OSK-W-21-1949-W7105-57131245344054354794013825
OSK-W-21-2067-W7123-53116645324154356974163750
OSK-W-21-2287-W4116-53143745360754357144044075
OSK-W-21-2287-W5116-53138045360754357144044075
OSK-W-21-2470132-59123045330454356394153775
OSK-W-21-2478-W5128-54116645299754356074253500
OSK-W-21-2479-W6344-55101445231554344193992325
OSK-W-21-2479-W7344-5599945231554344193992325
OSK-W-21-2479-W8344-55102645231554344193992325
OSK-W-21-2503-W4126-58119145333354356414133800
OSK-W-21-2513147-4528145351854360304054150
OSK-W-21-2522-W4128-54120845345154355944113900
OSK-W-21-2531-W1344-62121545256654344154032550
OSK-W-21-2532-W1341-60103545248054344284012475
OSK-W-21-2532-W2341-60114545248054344284012475
OSK-W-21-2537114-54124345298154355494203450
OSK-W-21-2537-W1114-54102045298154355494203450
OSK-W-21-2540-W1117-60120045346554356404103925
OSK-W-21-2544128-50116145296054355394193425
OSK-W-21-2546-W1140-5884345276854353124063150
OSK-W-21-2548331-5777445282954345503982850
OSK-W-21-2548-W1331-5783745282954345503982850
OSK-W-21-2548-W2331-5780145282954345503982850
OSK-W-21-2549332-5872345270354344554012675
OSK-W-21-2551-W1120-5597845362254356354054050
OSK-W-21-2552335-5268445240454346744002525
OSK-W-21-2555329-5974145272854344724012700
OSK-W-21-2556124-5019845342654358584054000
OSK-W-21-2559327-5182545282954345503982850
OSK-W-21-2560333-5368445240454346744002525
OSK-W-21-2561142-5180145288654354844093350
OSK-W-21-2562331-5675345273354344884012725
OSK-W-21-2566178-5818945342654358584054000
OSK-W-21-2567146-6018645342654358584054000
WST-21-071816201004533595435194833625
WST-21-0772148-6841145310454350652313325
WST-21-0797A138-467514533215435235543600
WST-21-0831157-6352645295454350032533175
WST-21-0833122-163344534635435327323775
WST-21-0835122-273854534625435327323775
WST-21-0840143-487784532585435209963525
WST-21-0842156-694454535065435327-73800
WST-21-0850151-6453245310554350652313325
WST-21-0851A123-406184535075435332-483800
WST-21-0852A141-437094533215435236543600
WST-21-0853A150-723764535055435328-53800
WST-21-0854A134-417244533745435296-263675
WST-21-0869142-476224532585435210963525
WST-21-0870134-5636045310654350662313325
WST-21-0871140-505824533215435236543600

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.

Underdog
Mineralization most commonly occurs in gold-bearing quartz-pyrite (± tourmaline) veins and as disseminated, stringer, semi-massive to massive pyrite with minor sphalerite, chalcopyrite and molybdenite associated with strong sericite and silica alteration. Mineralization is hosted along the intrusive contacts of a three-phase composite felsic porphyritic unit which cross-cuts felsic and mafic volcanic sequences.

Lynx Zone
Mineralization occurs as grey to translucent quartz-carbonate-pyrite-tourmaline veins and pyrite replacement zones and stockworks. Vein-type mineralization 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.

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

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), Director of Exploration for Osisko's Windfall 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 3.5 g/t Au diluted over core lengths of at least 2.0 metres. NQ core assays 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, Vancouver, British Colombia, Lima, Peru or Vientiane, Laos (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 Acid Digestion-ICP-MS 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 the Abitibi region of Québec, Canada. The Mineral Resource Estimate (MRE) defined by Osisko, as disclosed in the news release dated February 17, 2021 is supported by the technical report entitled “Preliminary Economic Assessment Update for the Windfall Project” dated April 26, 2021 (that includes Windfall Mineral Resource Estimate with an effective date  of November 30, 2020), and assuming a cut-off grade of 3.50 g/t Au, comprises 521,000 tonnes at 11.3 g/t Au (189,000 ounces) in the measured mineral resource category, 5,502,000 tonnes at 9.4 g/t Au (1,668,000 ounces) in the indicated mineral resource category and 16,401,000 tonnes at 8.0 g/t Au (4,244,000 ounces) in the inferred mineral resource category. The key assumptions, parameters and methods used to estimate the mineral resource estimate disclosed in the February 17, 2021 news release are further described in the full technical report prepared by BBA Inc. in accordance with NI 43-101 and is 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 sub-vertical zones following intrusive porphyry contacts plunging to the northeast. The resources are defined from surface to a depth of 1,600 metres as it now includes the Triple 8 (T8) zone. The resources excluding T8 are defined from surface to a depth of 1,200 metres. The deposit remains open along strike and at depth. Mineralization has been identified at surface in some areas and as deep as 2,625 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 gold 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 disclosed in this news release; the prospects, if any, of the Windfall gold deposit; timing and ability of Osisko to file a technical report for the mineral resource estimate disclosed in this news release; the timing and ability of Osisko, if at all, to publish a feasibility study for the Windfall gold deposit; the amount and type of drilling to be completed and the timing to complete such drilling; the focus of the remaining infill drilling; the trend of grade increase; the Lynx zone remaining open to expansion down plunge; upgrading a inferred mineral resource to a measured mineral resource or indicated mineral resource category; future drilling at the Windfall gold deposit; 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 (infill) 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


Today’s News

Global Energy Metals Announces Drilling Results at Millennium North Identifies Significant Shallow Oxide Copper Intercepts and Sulphides to 1.5%; Review Underway at Millennium Central and South

 

Vancouver, BC – TheNewswire – September 23, 2021 – Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”,…

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Vancouver, BC - TheNewswire - September 23, 2021 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in investment exposure to the battery metals supply chain, is pleased to advise that its partner, Metal Bank Limited (“MBK”) has completed full assay results from the initial RC drilling program at the Millennium copper, cobalt and gold (Cu-Co-Au) project near Mt Isa, Queensland (‘Millennium Project’) have now been received. This follows previous high grade Cu-Co-Au results returned from the initial two holes into the Central Area (refer to news release dated September 8, 2021).

Highlights

  • - Drilling results received from Northern Area target at the Millennium Cu-Co-Au Project in northwest QLD as part of MBK’s exclusive option to earn-in up to 80% of the project;

    - Broad copper intersections returned including:

    • - 8m @ 0.76% Cu from 62m (MI21RC05)

      - 24m @ 0.29% Cu from 0m (MI21RC06)

    - Preliminary review underway regarding current Inferred Resource of of 5.9Mt @ 1.08% CuEq1 and recent results; and

    - Further work on metal zonation and structural relationships to adjacent Pilgrim/Fountain Range Fault in Northern Extension Area in progress.

 

Results reported are from 5 drill holes targeting northern extensions 800-1000m along strike of the main Millennium Inferred Resource of 5.9Mt @ 1.08% CuEq1 as defined by Hammer Metals in 2016. Results include:

 

- 7m @ 0.30% Cu from 18m (MI21RC03)

- 8m @ 0.76% Cu from 62m (MI21RC05)

- 5m @ 0.29% Cu from 1m and 13m @ 0.32% Cu from 11m within a broader interval of 24m @ 0.29% Cu from 0m (MI21RC06)

 

Results support Metal Bank’s exploration approach at Millennium to expand the known mineralisation and justify the surface soil copper anomalism within basement rock on the eastern contact of the regional Pilgrim/Fountain Range Fault system. Importantly, substantial hydrothermal alteration is developed in this area and may indicate proximal siting for metal transport and/or deposition. This may open up potential for additional resources along strike and/or peripheral to the known resource.

 

Commenting on the findings at Millennium, Mitchell Smith, GEMC President and CEO said:

“The expansion of the Millenmium footprint to the north compliments the recent findings presented to the market in early September with the results validating our belief that there is a high potential to substantially increase the Resource at Millennium. They also highlight the high-grade nature of the project and the near-surface potential of the mineralization. We believe the trends seen from current and past exploration to be very promising and further support our strategy of advancing scalable high-grade battery metal projects through a partnership model.”

 

Also commenting on the exploration work, Inés Scotland, BMK Chair said:

Our northern extension drilling has opened up scope for additional resources at Millennium North providing us with further confidence in the expansion potential of this Project over and above the expansion of the existing Resource.  We are now evaluating potential to update that Resource and planning further extension test work for the existing Resource area and the Northern Area.”

The Millennium Project is an advanced exploration and development project located in the Mount Isa region on northwest Queensland, 19km from the Rocklands copper-cobalt processing facility. The Millennium Project holds a 2012 JORC-compliant Inferred Resource of 5.9MT @ 1.08% CuEq1 across 5 granted Mining Leases with significant potential for expansion, all proximal to processing solutions and excellent infrastructure in the Mount Isa region.

 

MBK has an exclusive 6 month option over the Millennium Project under its agreement with Global Energy Metals and its wholly owned subsidiary, Element Minerals Australia Pty Ltd.  At the end of the option period, MBK will have the right to commence a formal earn-in to earn up to an 80% interest in the Project.

 

Millennium Drilling Program

The Millennium drilling program commenced 11 August 2021 in the Southern Area (as shown in Figure 1 below), with two reverse circulation (RC) holes for 195m (MI21RC01-02) aimed at testing resource gaps and low confidence zones as part of Resource validation work.

 

A further 5 RC holes for 478m (MI21RC03-07) were completed in the Northern Area (also shown in Figure 1) testing potential for mineralisation extensions in the northern part of the Project area as indicated by previous mapping, geochemistry and structural interpretation. Refer to Table 1 and Table 2 for full drilling details.


Click Image To View Full Size

 

Figure 1: Millennium Project plan view showing interpreted basement geology, existing Millennium resource outline, previous and MBK drilling plus exploration targets with Northern Area RC drilling results.

 

Northern Area Drilling

First-pass drilling in the Northern Area for (MI21RC03-07) has been completed, testing anomalous surface Co-Cu geochemistry, previously mapped geological units and structures similar to mineralisation features in the Southern and Central Areas. This area is approximately 800-1000m north along strike, has had no previous drilling and does not form part of the existing Millennium resource. Drilling was conducted in two fences on two lines 250m apart.

 

Copper oxides were observed near surface and sulphides were observed deeper downhole, including 8m @ 0.76% Cu from 62m (MI21RC05), associated with contact zones between metasedimentary units and graphitic siltstones. Individual Cu assays peak at 1.50% from 67m depth.

 

While appearing restricted to the south and east, Cu mineralisation in the Northern Area remains open to the west, north and at depth. The relationship between this mineralisation and the Fountain Range / Quamby Fault warrants further investigation.  In addition, the eastern areas are not completely drill tested.


Click Image To View Full Size

 

Figure 2: Millennium 7724700N section showing previous resource drill holes, 2016 resource model, MI21RC05-7 drill holes and working preliminary interpretation.

 

Review

A review of the existing JORC 2012 Resource is underway to assess current scope for tonnage and grade updates, additional target areas and further work requirements in both the Southern and Central Areas of the resource.

 

The Resource review will include the two holes completed by MBK in the Central Area of the Resource and previous drilling completed by GEMC.

 

The two holes completed by MBK tested gaps in the existing resource and the potential for extensions in the northern margin of the southern area of the resource with excellent results. Several broad zones of Cu-Co mineralisation were intersected2, with results including:

 

MI21RC01

- 17m @ 0.33% Cu, 0.08% Co and 0.12g/t Au from 56m

- 16m @ 1.07% Cu, 0.26% Co and 0.40g/t Au from 80m including a high-grade zone of 5m @ 2.92% Cu, 0.50% Co and 1.19g/t Au from 82m (MI21RC01)

 

MI21RC02

- 2m @ 0.07% Cu and 0.29% Co from 41m

- 16m @ 0.34% Cu and 0.06% Co from 64m

- 3m @ 0.59% Cu and 0.14% Co from 84m

 

These results support the up-dip continuity of the Resource and potential northern extension of the southern resource model, in particular, within the current gap area between the southern and central resources.  

 

In addition, the results have identified that some higher-grade zones may remain untested within the Resource area, providing confidence in the significant growth upside of the existing Inferred Resource located in the southern and central areas of the Project.

 

Southern Area Previous Drilling

GEMC conducted a 10-hole, 1,141 metre drilling campaign on the Millennium Project during 2017 and 2018 to test the up-dip continuity at the Millennium North deposit and confirm historical estimates of cobalt mineralisation reported in 2016 by Hammer Metals.3  GEMC were successful in both duplicating historical results, demonstrating the continuity of mineralisation within the mineralised zone and in determining mineralisation continues to depth4, including 28m @0.35% Cu and 0.2% Co (MIRC026). Significantly, cobalt and copper mineralisation was encountered along the entire targeted 1500 metre strike length with the zones remaining open in all directions.5

 

Prior the GEMC’s involvement, the project area had been tested by only 73 drill holes (percussion, RC and diamond) for a total of 7,891 metres.  Most holes have been drilled within 200 metres of surface, with few holes reaching to depths greater than 250 metres below surface.  At present mineralisation remains open at depth and along the strike extent of the JORC resource area.6

 

Further Work

Pending outcomes from the Resource review and scoping work, in light of the encouraging copper results in the Northern Area further work is underway to extend the basement mineralisation, define high grade target zones and understand mineralisation relationships with the adjacent Quamby/Pilgrim Fault system. Work will also seek to determine the metal zonation aspects noted between the Northern and Central/Southern Areas.

 

In addition, the Federal and Corella Trends require assessment for potential to add additional targets and resources to the project.

 

Table 1: Completed drill hole details

Hole ID

Easting

Northing

RL

DIP

MAG AZI

AMG AZI

Depth (m)

MI21RC01

415946

7722858

237

-82

90

96

100

MI21RC02

415939

7722807

241

-78

82

88

95

MI21RC03

416316

7724444

248

-55

81

87

100

MI21RC04

416387

7724453

245

-55

83

89

95

MI21RC05

416337

7724695

250

-55

83

89

94

MI21RC06

416388

7724697

248

-55

83

89

100

MI21RC07

416450

7724700

250

-55

83

89

89

  

Table 2: MI21RC01-02 notable intersections

Hole ID

From

Interval (m)

Cu%

Co%

Au g/t

MI21RC01

46

3

0.48

0.03

0.29

MI21RC01

56

17

0.33

0.08

0.12

MI21RC01

80

16

1.07

0.26

0.40

including

82

5

2.92

0.50

1.19

and

91

1

0.12

0.50

0.02

MI21RC02

41

2

0.07

0.29

0.07

MI21RC02

45

1

0.33

0.02

0.18

MI21RC02

64

16

0.34

0.06

0.06

MI21RC02

81

82

0.08

0.20

0.02

MI21RC02

84

3

0.59

0.14

0.02

MI21RC03

18

7

0.30

<0.01

<0.01

MI21RC03

24

1

0.35

<0.01

<0.01

MI21RC03

30

1

0.21

<0.01

<0.01

MI21RC03

67

1

0.01

0.10

<0.01

MI21RC04

-

-

-

-

-

MI21RC05

20

1

0.28

<0.01

<0.01

MI21RC05

54

1

0.29

<0.01

<0.01

MI21RC05

62

8

0.76

<0.01

<0.01

including

67

1

1.50

<0.01

<0.01

MI21RC05

75

4

0.29

<0.01

<0.01

MI21RC06*

1

5

0.29

<0.01

<0.01

MI21RC06*

11

13

0.32

0.01

<0.01

MI21RC07

59

1

0.21

0.01

<0.01

  

NOTE: 0.2% Cu cut-off, 3m maximum internal dilution unless indicated by *. * within 24m @0.29% Cu from 0m (with 5m <0.2% Cu). Co values > 0.2% listed outside Cu% cut-off ranges. All results reported are downhole intervals and interpreted 70-75% true width. MI21RC01-02 results previously reported on September 8, 2021.2

 

The Millennium Project

The Millennium Project is a significant advanced copper-cobalt-gold (Cu-Co-Au) project with a large defined zone of copper-cobalt mineralisation that remains open for expansion at depth and along strike. Copper-cobalt mineralisation is associated with shear zones hosted within a sequence of volcanic and sedimentary units.

 

The Millennium Project is strategically located on granted mining leases, less than 20 km from the Rocklands mine site and processing facility and within the economic and infrastructure hub of Mount Isa, Queensland.  

 

The Mt. Isa Mineral Province is recognized as a world-class mining region, with more than a quarter of the world’s lead and zinc reserves, 5% of the world’s silver resources and 1.5% of the world’s copper resources.

 

The Project presents as an excellent opportunity to acquire a copper-cobalt asset of significant size with potential to expand mineralisation. Processing solutions and excellent infrastructure exist within the Mount Isa region of Queensland.

 

Hammer Metals Ltd (ASX: HMX) (‘Hammer Metals’) announced a maiden JORC (2012) resource in 2016 on the Millennium Projecti completed by Haren Consulting, comprised of an Inferred Resource of 5.89 million tonnes @ 1.08 CuEq (using CuEq cutoff of 0.7%), summarised in Table 2 below. The copper equivalent (CuEq) calculation for the Resource was based solely on commodity prices using the following prices: Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz.

 

Table 3: Millennium JORC (2012) Resource

Cu Eq Cut-off

Tonnes

CuEq (%)

Cu (%)

Co (%)

Au (ppm)

1.00%

3,070,000

1.29

0.35

0.14

0.12

0.70%

5,890,000

1.08

0.32

0.11

0.11

  

1HMX ASX Announcement dated 6 December 2016 “Millennium Mineral Resource Estimate”.

Copper equivalent (CuEq) calculation was based solely on commodity prices using prices as follows: Cu: US$4,600/t; Co: US$27,000/t; Au: US$1,330/oz; and Ag: US$20/oz

2GEMC News Release dated 8 September 2021

3GEMC News Release dated 19 June 2018

4GEMC News Releases dated 17 January 2018, 30 April 2018 , 31 May 2018 and 19 June 2018

5GEMC News Release dated 19 June 2018

6GEMC News Release dated 6 September 2018

 

Qualified Person

Mr. Paul Sarjeant, P. Geo., is the qualified person for this release as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects.

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle.  The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.  

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

www.globalenergymetals.com

Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals

Subscribe to the GEMC eNewsletter

Cautionary Statement on Forward-Looking Information:  

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.  

GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.

i 

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Today’s News

One World Lithium Announces DDH-4 Has Started at Its Salar del Diablo Lithium-Brine Project

 

VANCOUVER, BC – TheNewswire – September 23, 2021 – One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the “Company”) (“OWL”) announces…

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VANCOUVER, BC - TheNewswire – September 23, 2021 - One World Lithium Inc. (CSE:OWLI) (OTC:OWRDF) (CNSX:OWLI.CN) (the “Company”) (“OWL”) announces that DDH-4 (diamond drill hole) is drilling at a location 16 kilometers north of DDH-3 or 34 kilometers south of DDH-2.  DDH-4 is currently drilling the upper part of the borehole and preparing to drill to a depth of up to 600 meters in anticipation of encountering a suspected deep brine system. DDH-3 was abandoned at 230 meters due to difficulty accessing the hole location.

 

DDH-4’s location is recommended by OWL’s Operator, Montgomery & Associates. DDH-4 has a planned total depth of 600 meters. The Operator noted “The bore hole may intersect historic and current hydrothermal activity that are evident and is often a source of lithium, such as in the Lithium Triangle in Argentina and Chile”. DDH-4 may intersect hydrothermal activity at less than 600 meters.  If DDH-4 is successful OWL may elect to drill additional holes in the southern concessions.

 

DDH-4 is the fourth exploration borehole of a four borehole program designed to explore the Salar del Diablo lithium-brine project that covers 103,450 hectares located in the State of Baja California, Mexico.  OWL currently owns a 60% property interest and on completion of the program, it will have earned an additional 20% property interest and has an option to purchase a further 10% for a total of a 90% property interest.  

 

Lithium Industry Trend.

 

As reported by Fastmarkets on September 12, 2021, the spot price of lithium carbonate has risen 23% from the previous month average, going from $ 14,630 USD to $ 19,000 USD per metric ton1.  This has also been reflected in the share prices of both junior exploration and major producers alike.

 

Update on Critical Fluid Separation Technology

 

The Company has delayed the proof of concept testing program in order to review other patented processes in the same field of use with the intention to enter into a joint venture arrangement. 

  

Mike Rosko, SME Registered member and a Qualified Person as defined by the Canadian National Instrument 43-101, has reviewed and approved the scientific and technical disclosure contained in this news release.

       

On behalf of the Board of Directors of One World Lithium Inc.

“Douglas Fulcher”

President and Chief Executive Officer

For further information please visit www.oneworldlithium.com or email info@oneworldlithium.com  or call 1-604-564-2017 Extension-3.

 

Forward-Looking Information: This press release may include forward looking information within the meaning of Canadian securities legislation. Forward looking information is based on certain key expectations and assumptions made by the management of the OWL, including the intention of OWL to proceed with the advancement of the Property or with the Separation Technology. Although OWL believes that the expectations and assumptions on which such forward looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because OWL can give no assurance that they will prove to be correct. Forward looking statements contained in this press release are made as of the date of this press release. OWL disclaims any intent or obligation to update publically any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from the those anticipated in such statements, important factors that could cause actual results to differ materially from the company’s expectations include: (I) inability of OWL to execute its business plan and raise the required financing (II) accuracy of mineral or resource exploration activity (III) continued access to mineral property (IV) risks and market fluctuations common to the mining industry and lithium sector in particular and (V) advancements in new separation technologies. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, some of which are beyond the control of the OWL. The reader is cautioned not to place undue reliance on any forward-looking information contained in this press release.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

  1. 1.Figures taken from Lithium price spotlight – Weekly price updates -Fastmarkets (September 12, 2021) https:/www.fastmarkets.com/commodities/industrial-minerals/lithium-price-spotlight?utm_source=spotlight-alert&utm_medium=email-rketing&utm_campaign=lithium&mkt_tok=Mzc2LUtWVi0xNzcAAAF_fH_rb4X94xcmCmKtuDWs93-1T1cNnPgmFRDpGppMpTasbdFh_zkmIHVMb5QuyjSCxj_Gqjsf9_WVavAscV7Qr0eeEH4iTFICm4DNuUXeXw 

   

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Today’s News

Alianza Intersects Additional Silver at the West Fault Complex Extending Mineralization 50 m Further to the Northeast – Haldane Silver Project, Keno Hill District, Yukon Territory

– Nine holes now outline two productive fault splays at West Fault Complex

– Six holes completed to depth intersected breccia/fault/vein zone with siderite-galena-sphalerite…

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  • - Nine holes now outline two productive fault splays at West Fault Complex

    - Six holes completed to depth intersected breccia/fault/vein zone with siderite-galena-sphalerite mineralization

    - West Fault target remains open along strike in both directions and down dip, only 200 metres of the 1,100 metre-long structure having been tested

    - A possible southwest oriented high-grade silver high-grade shoot direction has now been revealed

 

Vancouver, BC - TheNewswire - September 23, 2021 - Alianza Minerals Ltd. (TSXV:ANZ) (OTC:TARSF) (“Alianza” or the “Company”) reports the final two holes from the 2021 drilling campaign at the Company’s wholly-owned Haldane high-grade silver property located in the historic Keno Hill Mining District of Yukon Territory. Drilling has focused on the West Fault Complex target where a strong vein-fault system with high-grade silver mineralization is being defined. Following up on the success in earlier holes, HLD21-26 and HLD21-27 have infilled and further extended the West Fault mineralization by 50 metres along strike to the northeast.

The 8,579 hectare Haldane Property is located in the western portion of the Keno Hill Silver District, 25 kilometres west of Keno City, YT. Exploration at Haldane is targeting extensions of historical high-grade silver production on the property as well as recently defined targets, such as the West Fault, in new areas of the property.

“In our two drilling campaigns over the past 12 months at Haldane, we have discovered and started to define high-grade silver bearing veins within the West Fault Complex,” stated Jason Weber, P.Geo, President and CEO of Alianza. “After the exceptional result from drilling late in 2020 in HLD20-19, our approach was to determine the orientation of high grade shoots of vein mineralization through a grid pattern of 50 metre step outs on strike and down dip. This approach was successful in extending mineralization to depth and identifying the likely orientation of high-grade silver mineralization. This drilling also indicates that the West Fault is a complex of structures and veining tends to be strongest in an upper structure (WF2) in the northeast and transitions to a lower structure (WF1) to the southwest. Although strong veining within the West Fault structure was seen in both HLD21-26 and HLD21-27, the overall width was slightly wider and the galena (and closely associated silver) content was lower in general which leads us to believe that the strongest, thickest and potentially highest grade mineralization may lie along strike to the southwest and down plunge. We look forward to our next phase of work which will target this extension.”

Table 1 – West Fault Target Drill Intercepts

Hole

From (m)

To    (m)

Interval

(m)

Est True Width (m)(1)

Silver

(g/t)

Gold

(g/t)

Lead

(%)

Zinc

(%)

Silver Eq.(2)

(g/t)

HLD21-26

270.41

275.5

5.09(3)

3.05

205

0.11

1.20

3.13

369

including

270.41

270.96

0.55

0.33

437

0.04

9.99

16.9

1383

                   

HLD21-27

225.00

233.00

8.00(3)

4.80

81.4

0.03

0.16

0.65

113

Including

225.00

225.62

0.62

0.37

342

0.06

0.37

0.49

376

  1. (1)True width of the vein and breccia mineralization is estimated to be 50-70% of the core length intersection. A value of 60% is used for the purposes of reporting HLD21-26, 27. 

  2. (2)Silver-equivalent values are calculated assuming 100% recovery using the formula: ((20 * silver (g/t) / 31.1035) + (1650 * gold (g/t) / 31.1035) + (0.90 * 2204 * lead %/100) + (1.10 * 2204 * zinc %/100)) *(31.1035 / 20). Metal price assumptions are US$20/oz silver, US$1650/oz gold, US$0.90/lb lead and US$1.10/lb zinc. 

  3. (3)Core recovery is estimated at 69% for HLD21-26 and 94% for HLD21-27 over the reported intervals.  

HLD21-26 intersected the West Fault structure at 268.43 m over a core length of 15.42 m (estimated true width of 9.25 m), exhibiting good strength and width. Strong siderite/sulphide breccia and veining was intersected at 270.41 m returning a 5.09 m (3.05 m estimated true width) intersection of 205 g/t silver (369 g/t silver-equivalent). The highest grade interval of 0.55 m (0.33 m estimated true width) of 437 g/t silver, 9.99% lead and 16.9% zinc (1,383 g/t silver-equivalent) consisted of very strong siderite-galena-sphalerite with trace tetrahedrite in veins and breccia. Siderite/sulphide veining is bounded on both sides by zones of clay-gouge with elevated silver content.

HLD21-27 intersected the West Fault structure at 222.40 m over a core length of 16.75m (estimated true width of 10.05 m). Strong siderite vein and vein breccia with banding open-space fill textures was intersected at 225.00 m, returning an 8.00 m (4.80 m estimated true width) intersection of weakly mineralized material grading 81.4 g/t silver (113 g/t silver-equivalent).  This intersection expanded vein mineralization at the West Fault 50 m to the northeast along strike from HLD20-19 that intersected 8.30 m (4.48 m estimated true width) of 444 g/t silver (554 g/t silver-equivalent).  Although the vein and vein breccia was wide and consisted of textures associated with productive mineralization, it was moderately to strongly oxidized with remnant sulphides occurring predominantly as disseminated blebs indicating a lower overall original galena and sphalerite content.

Holes HLD21-26 and -27 intersected the upper WF2 vein. Our current interpretation is that a “step over” from the WF1 vein to the WF2 occurs in the vicinity of the HLD21-24 and -25, where the width and grade of the vein is the strongest. The orientation of the step over is not definitive, but one possibility is that it plunges steeply to the southwest in the plane of the West Fault Complex and high-grade shoot geometries could also be aligned in this direction.

Our current level of understanding indicates that stepping out along strike to the southwest and down dip along the structure from HLD21-24 and -25, where our highest grades and thicknesses of veining to date have been intersected, is most prospective. However, the possibility still remains that stronger mineralization may redevelop along strike to the northeast of HLD21-26, and -27 where in excess of 350 m of structure remains open.

The West Fault Complex is traced for over 650 metres and can be interpreted to extend to 1.1 kilometres in length before merging with the 2.2 kilometre-long Main Zone structure.  Drill testing to date covers only a fraction of the West Fault Complex target. The current program systematically tested the structure in approximate 50 metre step-outs along strike and down dip of HLD2-19, the first hole at the West Fault to identify high grade silver mineralization over wide intervals, including 8.72 m (true width) averaging 311 g/t silver, 0.89 g/t gold and 1.13% lead with a higher grade interval of 1.78 metres of 818 g/t silver. Systematic step-outs resulted in additional high grade mineralization in HLD21-24 (3.14 m averaging 1,351 g/t silver, 2.43% lead, 2.91% zinc including 1.26 metres averaging 3,267 g/t silver, 5.80% lead, 7.02% zinc) and HLD21-25 (363 g/t silver, 1.73% lead and 2.80% zinc over a true width 4.27 metres with a high grade interval of 1,107 g/t silver, 6.98% lead and 3.97% zinc (over 1.00 metre). Silver mineralization has now been intersected in nine holes that pierce the WF1 and WF2 veins over 90 metres of dip direction and 100 metres of strike direction. The West Fault Complex is one of four high-priority silver-lead-zinc-bearing vein drill targets at Haldane.


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Fig 1. West Fault Complex Plan Map.

 


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Fig 2. Cross section – West Fault drill holes HLD20-19, HLD21-25 and HLD21-26.

 


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Fig 3. Cross section – West Fault drill hole HLD21-27.

 


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Fig 4. West Fault Inclined Long Section. Long-Section view looking southeast. Section cut in the plane of the West Fault.

Quality Assurance / Quality Control

All samples were analyzed by 33 element four acid digestion ICP-MS methods at ALS Canada Ltd. Sample preparation was completed in Whitehorse, Yukon and geochemical analyses were performed in Vancouver, British Columbia. Samples with over limit silver and gold were re-analyzed using a 30-gram fire assay fusion with a gravimetric finish. Over-limit lead and zinc samples were analyzed by four acid digestion and atomic absorption spectrometry. All results have passed the QA/QC screening by the lab Equity Exploration Consultants Ltd, of Vancouver BC is executing and managing the Haldane Project. Equity utilized a quality control and quality assurance protocol for the drill core sampling, including blank, duplicate, and standard reference samples.

About Alianza Minerals Ltd.

 

Alianza employs a hybrid business model of joint venture funding and self-funded projects to maximize opportunity for exploration success. The Company currently has gold, silver and base metal projects in Yukon Territory, British Columbia, Colorado, Nevada and Peru. Alianza currently has one project (Tim, Yukon Territory) optioned out to Coeur Mining, Inc. and is actively seeking partners on other projects.  

 

The Company is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTCQB market in the US under the symbol “TARSF”.

Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.

For further information, contact:       

Jason Weber, President and CEO

Sandrine Lam, Shareholder Communications

 

Tel:  (604) 807-7217                              

Fax: (888) 889-4874

 

Renmark Financial Communications Inc.

Scott Logan

slogan@renmarkfinancial.com

Tel: (416) 644-2020 or (212) 812-7680

www.renmarkfinancial.com

  

To learn more visit: www.alianzaminerals.com

       
 

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.

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