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MONTREAL, QUEBEC--(Marketwire - Jan. 25, 2011) - Osisko
Mining Corporation ("Osisko")
(TSX:OSK)(FRANKFURT:EWX) is pleased to announce additional results from
the 2010 definition drill program on the Barnat
Extension, located on Osisko's 100%-owned
Canadian Malartic gold property, within and
immediately to the east end of the current engineered pit of the
Canadian Malartic and Barnat
deposits. The 115 hole, 25,100 metre
definition drilling program was executed along 25 metre-spaced
sections and was completed in the fall of 2010.
Results for thirty-six new holes, mainly from the Barnat
Extension program (east of section 5800E) are presented below.
Highlights include 142.6 metres averaging
3.19 g/t Au (BA10-3913 uncut), 121.2 metres
averaging 2.78 g/t Au (BA10-3911 uncut), and 142.7 metres
averaging 1.40 g/t Au (BA10-3914).
Assay data from these holes are not included in the current resource
block model, and in the majority of cases represent new mineralization
and new ounces hosted within Pontiac metasediments.
Mineralized intersections between sections 5675E and 6150E are
partially outside (below) the existing engineering pit and therefore
not included in current reserves. All holes to the east of section
6150E are completely outside the current engineered pit. Out-of-pit
intersections are indicated below by asterisks:
-------------------------------------------------------------------------- Hole No. Section Az./dip From (m) To (m) Length Au g/t Au g/t (m) (uncut) (cut) BA10-3893B 6075E 180/60 24.0 52.5 28.5 3.63 --- including 40.5 42.0 1.5 19.35 --- BA10-3896 6075E 0/44 43.5 154.0 110.5 1.42 --- including BA10-3898 6075E 0/60 102.5 120.5 18.0 0.82 --- And(ii) 155.0 224.0 69.0 2.04 --- BA10-3902 6050E 0/45 60.0 82.3 22.3 1.25 --- And 163.5 198.4 34.9 1.05 --- BA10-3903 6050E 3/60 30.0 59.0 29.0 1.49 --- BA10-3904 6050E 180/45 15.0 18.0 3.0 7.25 --- And 79.1 88.5 9.4 2.06 --- BA10-3905 6075E 180/45 75.1 100.5 25.4 1.43 --- And(ii) 126.0 139.5 13.5 1.70 --- BA10-3906 6100E 180/45 71.6 136.6 65.0 1.25 --- BA10-3907 6025E 0/45 24.0 39.0 15.0 2.11 --- And 162.0 219.7 57.7 1.02 --- And(ii) 247.8 269.4 21.6 0.87 --- BA10-3908 6025E 0/54 18.0 49.5 31.5 1.88 --- And 143.5 169.0 25.5 0.97 --- And(ii) 186.5 256.5 70.0 1.52 --- BA10- 6125E 180/50 63.0 115.5 52.5 1.84 --- 3909(ii) And(ii) 136.1 180.0 43.9 0.91 --- BA10- 6150E 180/48 24.5 117.5 93.0 1.69 --- 3910(ii) And(ii) 144.0 179.5 35.5 1.01 --- BA10- 6150E 180/64 41.6 162.8 121.2 2.78 2.27 3911(ii) including 52.5 54.0 1.5 71.30 30.00 BA10-3912 6000E 0/45 134.0 259.0 125.0 1.29 --- including 255.5 256.6 1.1 15.45 --- BA10-3913 6000E 0/53 12.5 15.0 2.5 4.92 --- And 169.5 210.0 40.5 1.25 --- And(ii) 210.0 312.1 102.1 3.96 2.59 including 243.0 243.4 0.4 40.30 30.00 including 249.0 251.3 2.3 79.46 20.94 including 255.0 256.4 1.4 27.00 overall 169.5 312.1 142.6 3.19 2.21 BA10- 6175E 180/45 70.3 213.0 142.7 1.40 --- 3914(ii) including 158.0 159.5 1.5 11.05 --- BA10-3915 6175E 180/60 45.0 49.5 4.5 4.50 --- And(ii) 87.4 205.5 118.1 1.07 --- BA10-3916 5975E 0/45 147.0 227.3 80.3 1.07 --- And(ii) 246.5 286.5 40.0 0.97 --- BA10- 5975E 0/52 217.1 238.0 20.9 2.27 --- 3917(ii) BA10- 6225E 180/57 95.5 139.5 44.0 1.63 --- 3918(ii) BA10- 6175E 180/45 43.0 95.5 52.5 1.60 --- 3919(ii) And(ii) 144.5 203.0 58.5 0.83 --- BA10-3920 5950E 0/46 195.0 276.2 81.2 1.87 --- including 272.2 273.4 1.2 23.90 BA10-3921 5950E 0/54 63.0 73.5 10.5 3.28 --- BA10-3922 5850E 180/56 159.5 170.5 11.0 1.00 --- And 221.2 233.1 11.9 1.01 --- BA10-3923 5825E 180/46 191.5 257.5 66.0 1.20 --- BA10- 5825E 180/53 276.0 277.7 1.70 39.50 30.00 3924B(ii) And(ii) 300.0 318.0 18.0 3.60 --- BA10-3925 5925E 0/47 202.6 262.0 59.4 0.96 --- BA10- 5925E 0/56 231.0 244.0 13.0 1.25 --- 3926(ii) And 275.0 279.4 4.4 2.67 --- BA10- 5675E 215/52 202.5 233.5 31.0 0.53 --- 3928(ii) BA10-3933 5700E 219/45 110.6 123.0 12.4 0.80 --- And 204.6 371.5 166.9 0.94 --- --------------------------------------------------------------------------
Drill holes BA10-3927, BA10-3929 to BA10-3932
and BA10-3934 did not intersect notable mineralization. The drill data
suggest the Barnat Extension comprises two mineralized zones that
parallel the southern limit of the Cadillac fault. The northerly extension
(Sheehan Zone) is located within the Cadillac Fault and is hosted
mostly by mineralized porphyry within sheared and altered ultramafic
rocks. This zone is subvertical and is approximately 12 metres true
thickness on average (range of 2 to 28 metres) and has been traced for
at least 125 metres. The southerly extension (Mammoth Zone) is located
in the Pontiac metasediments, approximately 35 metres south of the
Sheehan Zone. This zone is comprised of silicified porphyry and
metasediments similar to those of the Canadian Malartic deposit.
The Mammoth Zone dips subvertically to the north near surface and
reverses to a 75 degree dip to the south at depth. Its average true
thickness is approximately 40 metres (range of 25 to 60 metres). The
thicker portions were intersected by drill holes BA10-3911 to
BA10-3915. The Mammoth zone has now been traced along a strike length
of 300 metres in the immediate area of the old East Malartic mine
workings, and both zones are open to the east and at depth.
All NQ core assays reported above were obtained by standard 50 g fire
assaying-AA finish or gravimetric finish at ALS Chemex laboratories in
Val d'Or, Quebec. Reported drill core weighted averages were calculated
using a minimum of 0.34g/t Au over successive intervals of 20 metres.
The reported lengths of isolated mineralized intervals were minimized,
and an upper cut-off of 30 g/t Au was applied to individual assays
where indicated. Intersected drifts or lost core within mineralized
intersections were incorporated as blank intervals.
Osisko follows strict QA-QC protocol measures in keeping with industry
standards and regulatory reporting requirements. Mr. Robert Wares, P.
Geo. and Executive Vice-President of Osisko, and Mr. Francois Bouchard,
P. Geo., are the Qualified Persons who has reviewed this news release
and are responsible for the technical information reported herein,
including verification of the data disclosed including the sampling,
analytical and test data underlying the technical information.
Forward-Looking Statements
Certain statements contained in this press release may be deemed
"forward-looking statements". All statements in this release,
other than statements of historical fact, that address events or
developments that Osisko expects to occur, are forward looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by the
words "expects", "plans", "anticipates",
"believes", "intends", "estimates",
"projects", "potential", "scheduled" and
similar expressions, or that events or conditions "will",
"would", "may", "could" or
"should" occur including, without limitation, the
commencement of commercial production. Although Osisko believes the
expectations expressed in such forward-looking statements are based on
reasonable assumptions, including, without limitation, that all
technical, economical and financial conditions will be met in order to
warrant further development of the project, such statements are not
guarantees of future performance and actual results may differ
materially from those in forward looking statements. Factors that could
cause the actual results to differ materially from those in
forward-looking statements include gold prices, access to skilled
consultants, mining development personnel, results of exploration and
development activities, Osisko's limited experience with production and
development stage mining operations, uninsured risks, regulatory
changes, defects in title, availability of personnel, materials and equipment,
timeliness of government approvals, actual performance of facilities,
equipment and processes relative to specifications and expectations,
unanticipated environmental impacts on operations market prices,
continued availability of capital and financing and general economic,
market or business conditions. These factors are discussed in greater
detail in Osisko's most recent Annual Information Form and in the most
recent Management Discussion and Analysis filed on SEDAR, which also
provide additional general assumptions in connection with these
statements. Osisko cautions that the foregoing list of important
factors is not exhaustive. Investors and others who base themselves on
forward-looking statements should carefully consider the above factors
as well as the uncertainties they represent and the risk they entail.
Osisko believes that the expectations reflected in those
forward-looking statements are reasonable, but no assurance can be
given that these expectations will prove to be correct and such forward-looking
statements included in this press release should not be unduly relied
upon. These statements speak only as of the date of this press release.
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