Jan 31 2013
Osisko Mining Corporation is pleased to announce results from the ongoing diamond drill program at the Upper Beaver gold project located in Kirkland Lake, Ontario. The Upper Beaver project is 100% owned by Osisko Mining Ltd., a wholly-owned subsidiary of Osisko.
Highlights from the new holes include 5.5g/t Au over 54.0 metres, including 18.7 g/t Au with 1.9% Cu over 11.0 metres (infill hole UB12-262W3); 16.9 g/t Au over 13.0 metres (infill hole UB12-262W2); and 27.7 g/t Au over 4.0 metres (hole UB12-269W1) in a new step-out.
The tabled results (see below) represent 30 new (and wedge) holes (19,883 metres total drilling) completed in Q4 2012 as part of the in-fill resource definition and step-out exploration program at Upper Beaver.
In-fill Resource Definition
In-fill drilling continues to confirm the continuity and high-grade nature of the core of the deposit. Seven wedge holes on the west portion of the deposit intersected significant mineralization. One hole and three wedges at the -700 m elevation of the deposit returned intervals in the Porphyry Zone assaying 12.8 g/t Au with 0.87% Cu over 9.0 m (including 36.8 g/t Au with 1.48% Cu over 3.0 m) in hole UB12-262; 1.9 g/t Au with 0.18% Cu over 22.7 m in hole UB12-262W1; 16.9 g/t Au with 0.20% Cu over 13.0 m (including 89.9 g/t Au with trace Cu over 2.0 m) in hole UB12-262W2; and 5.5 g/t Au with 0.6% Cu over 54.0 m in hole UB12-262W3. The thick interval in UB12-262W3 includes three sub-zones, 18.7 g/t Au with 1.9% Cu over 11.0 m, 2.3 g/t Au with 0.4% Cu over 14.0 m and 6.5 g/t Au with 0.4% Cu over 7.0 m.
Four wedge holes between -900 m and -1100 m intersected the Porphyry Zone, returning 15.1 g/t Au with 0.6% Cu over 3.0 m (hole UB12-161W9); 3.2 g/t Au with 0.7% Cu over 11.0 m (hole UB12-161W10); 4.2 g/t Au with 0.4% Cu over 6.0 m (hole UB12-161W11); and 3.6 g/t Au with trace Cu over 5.0 m (hole UB12-161W12).
Four holes targeted the Porphyry Zone on the east portion of the deposit. Holes UB12-254 and UB12-254W1 intersected the zone at -600 m below surface, respectively assaying 3.1 g/t Au with 0.3% Cu over 26.0 m (including 9.7 g/t Au with 0.3% Cu over 6.0 m), and 12.6 g/t Au with 0.2% Cu over 6.0 m. Near -400 m depth, hole UB12-259 returned 1.5 g/t over 7.0 m, and UB12-263 returned 4.0 g/t Au over 10.0 m (including 7.1 g/t Au over 5.0 m).
Step-out Exploration
Exploration drilling has intersected significant mineralization east and west of the deposit. Seven wedge holes intersected significant mineralization from near surface to -500 m approximately 50 m west of the existing mineral resource. Significant intersections include 27.7 g/t Au over 4.0 m (hole UB12-269W1); 41.6 g/t Au over 1.0 m and 9.1 g/t Au with 1.1% Cu over 2.0 m (hole UB12-260); 11.0 g/t Au over 1.0 m and 6.2 g/t Au over 4.0 m (hole UB12-265); 10.5 g/t Au over 1.0 m (hole UB12-269); and 0.9 g/t Au with 0.4% Cu over 19.0 m (hole UB12-257).
Six wedge holes intersected significant mineralization (expanding the footprint of the deposit) approximately 100 m - 300 m east of the known mineral resource. Significant intersections returned 5.6 g/t Au over 6.0 m and 3.4 g/t Au over 10.0 m (hole UB12-250W1) at a depth of -700 m; 4.8 g/t Au over 4.0 m (hole UB12-270) near - 150 m depth; and 18.2 g/t Au over 1.0 m (hole UB12-274) near -150 m depth.