Island Mountain Overview
Mosquito Creek andShaft Zone deposits are located onIsland Mountain .- To date in 2021, a total of 133 drill holes have been drilled on
Island Mountain , designed to infill and expand known vein corridors. - Recent results include holes IM-21-001 to IM-21-010.
- A total of 124 mineralized vein corridor solids are modelled on
Island Mountain , to an average depth of 350 meters, to a maximum depth of 700 meters and remain open. - Recent drill results show significant down dip expansion of modelled vein corridors illustrated in IM-21-009 that intersected 23.32 g/t Au over 15.0 meters.
- Detailed drilling results, a drill hole location plan map and vertical long section is presented at the end of this release.
Recent Drilling Highlights:
- 21.94 g/t Au over 2.70 meters in hole IM-21-003
- 23.48 g/t Au over 2.30 meters in hole IM-21-004
- 5.24 g/t Au over 10.85 meters in hole IM-21-004
- 13.39 g/t Au over 4.10 meters in hole IM-21-005 including
- 41.30 g/t Au over 1.30 meters
- 23.32 g/t Au over 15.00 meters in hole IM-21-009 including
- 85.80 g/t Au over 1.00 meter and
- 118.50 g/t Au over 1.00 meter
- 16.83 g/t Au over 4.40 meters in hole IM-21-010 including
- 73.40 g/t Au over 0.80 meter
Mineralized quartz veins on Cariboo are overall sub-vertical dip and northeast strike. Vein corridors are defined as a high-density network of mineralized quartz veins within the axis of the last folding event’s folds and hosted within a brittle meta-sandstone or calcareous meta-sandstone. Vein corridors are modelled at a minimum thickness of 2 meters and average about 4.5 meters true width. Individual mineralized veins within these corridors have widths varying from centimeters to several meters and strike lengths from a few meters to over 50 meters. These corridors have been defined from surface to a vertical depth averaging300 meters and remain open for expansion at depth and along strike. Gold grades are intimately associated with quartz vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.
True widths are estimated to be 60% to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays. Complete assay highlights are presented in Table 1, drill hole locations are listed in Table 2.
Corporate Matters
Following the closing of the reverse takeover bid transaction by Osisko Gold Royalties Ltd (“Osisko Gold”) on
The Boards of Directors of Osisko Gold and the Corporation, agreed that Osisko Gold would cancel a pro-rata portion of the outstanding restricted shares units awarded by Osisko Gold (“Osisko Gold RSUs”) to transferred employees and the Corporation would grant to such transferred employees restricted shares units (“Replacement RSUs”) in an equivalent value as the value of the Osisko Gold RSU cancelled by Osisko Gold; which values were determined using a 5-day volume weighted average price of the respective entity on the exchange at a pre-determined reference date.
Accordingly, the Corporation is pleased to announce that its Board of Directors has approved the grant and 404,240 Replacement RSUs were granted to officers who held Osisko Gold RSUs that were cancelled. The maturity date shall be the same as the maturity date of the corresponding Osisko Gold RSUs so cancelled.
Figure 1: Cariboo deposit areas with drill locations is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/6930c326-9658-462b-a2c9-46cf55043db5
Figure 2:
Figure 3:
Qualified Persons
Per National Instrument 43-101 Standards of Disclosure for Mineral Projects,
Quality Assurance – Quality Control
Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at a secured facility in
Drill core samples are submitted to ALS Geochemistry’s analytical facility in
About
For further information, please contact | |
VP Investor Relations jflemonde@osiskodev.com Tel: 514-299-4926 |
Forward-looking Statements
Certain statements contained in this press release may be deemed “forward‐looking statements” within the meaning of applicable Canadian and
For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements made in this news release concerning
Neither the
Table 1:
HOLE ID | FROM M | TO (M) | LENGTH (M) | AU G/T | Target | |
IM-21-001 | 19.90 | 24.35 | 4.45 | 4.36 | MOSQUITO | |
INCLUDING | 19.90 | 21.40 | 1.50 | 6.98 | ||
209.80 | 211.54 | 1.74 | 4.17 | |||
INCLUDING | 211.00 | 211.54 | 0.54 | 8.60 | ||
234.00 | 235.75 | 1.75 | 3.11 | |||
289.60 | 290.40 | 0.80 | 7.81 | |||
IM-21-002 | HOLE ABANDONED | MOSQUITO | ||||
IM-21-003 | 28.60 | 31.30 | 2.70 | 21.94 | MOSQUITO | |
INCLUDING | 28.60 | 29.70 | 1.10 | 30.90 | ||
AND | 29.70 | 30.50 | 0.80 | 11.35 | ||
AND | 30.50 | 31.30 | 0.80 | 20.20 | ||
IM-21-004 | 107.75 | 110.05 | 2.30 | 23.48 | MOSQUITO | |
INCLUDING | 107.75 | 108.90 | 1.15 | 30.90 | ||
118.40 | 118.90 | 0.50 | 4.05 | |||
224.00 | 234.85 | 10.85 | 5.24 | |||
INCLUDING | 224.60 | 225.60 | 1.00 | 24.60 | ||
AND | 225.60 | 226.55 | 0.95 | 8.42 | ||
AND | 229.00 | 229.80 | 0.80 | 13.60 | ||
AND | 233.90 | 234.85 | 0.95 | 10.90 | ||
IM-21-005 | 40.40 | 44.50 | 4.10 | 13.39 | MOSQUITO | |
INCLUDING | 42.10 | 43.40 | 1.30 | 41.30 | ||
135.00 | 136.00 | 1.00 | 2.97 | |||
158.00 | 163.50 | 5.50 | 3.15 | |||
INCLUDING | 162.90 | 163.50 | 0.60 | 5.15 | ||
205.40 | 207.15 | 1.75 | 12.00 | |||
INCLUDING | 206.05 | 207.15 | 1.10 | 17.95 | ||
IM-21-006 | 29.25 | 30.55 | 1.30 | 9.10 | SHAFT | |
INCLUDING | 29.25 | 30.00 | 0.75 | 14.70 | ||
39.00 | 39.55 | 0.55 | 3.95 | |||
46.20 | 47.00 | 0.80 | 10.60 | |||
75.00 | 77.00 | 2.00 | 8.37 | |||
INCLUDING | 75.00 | 75.50 | 0.50 | 14.55 | ||
AND | 75.50 | 76.00 | 0.50 | 7.95 | ||
AND | 76.00 | 76.50 | 0.50 | 9.06 | ||
168.00 | 168.50 | 0.50 | 8.21 | |||
IM-21-007 | 185.40 | 186.30 | 0.90 | 27.90 | SHAFT | |
254.60 | 255.80 | 1.20 | 3.34 | |||
282.95 | 286.00 | 3.05 | 4.21 | |||
INCLUDING | 282.95 | 283.85 | 0.90 | 10.35 | ||
IM-21-008 | 45.00 | 47.10 | 2.10 | 9.94 | MOSQUITO | |
INCLUDING | 46.30 | 47.10 | 0.80 | 13.25 | ||
129.50 | 130.00 | 0.50 | 21.80 | |||
IM-21-009 | 206.00 | 221.00 | 15.00 | 23.32 | MOSQUITO | |
INCLUDING | 206.00 | 206.75 | 0.75 | 52.00 | ||
AND | 206.75 | 207.45 | 0.70 | 36.40 | ||
AND | 213.00 | 214.05 | 1.05 | 9.09 | ||
AND | 216.00 | 217.00 | 1.00 | 85.80 | ||
AND | 217.00 | 218.00 | 1.00 | 118.50 | ||
AND | 218.00 | 219.00 | 1.00 | 37.90 | ||
AND | 220.00 | 221.00 | 1.00 | 14.30 | ||
225.00 | 229.00 | 4.00 | 3.10 | |||
234.00 | 236.80 | 2.80 | 6.07 | |||
INCLUDING | 235.00 | 236.00 | 1.00 | 8.00 | ||
IM-21-010 | 23.00 | 23.50 | 0.50 | 6.24 | MOSQUITO | |
25.60 | 26.20 | 0.60 | 7.42 | |||
44.20 | 45.50 | 1.30 | 5.94 | |||
51.50 | 55.90 | 4.40 | 16.83 | |||
INCLUDING | 51.50 | 52.00 | 0.50 | 30.30 | ||
AND | 55.10 | 55.90 | 0.80 | 73.40 |
Table 2: Drill Hole Locations and Orientations
HOLE ID | EASTING | NORTHING | ELEV | DIP | AZI | DEPTH (M) |
IM-21-001 | 593688 | 5885193 | 1395 | -53 | 155 | 303 |
IM-21-002 | 593542 | 5885328 | 1406 | -44 | 291 | 32.8 |
IM-21-003 | 593933 | 5884907 | 1401 | -51 | 267 | 162 |
IM-21-004 | 593687 | 5885194 | 1395 | -57 | 154 | 282 |
IM-21-005 | 593543 | 5885328 | 1407 | -45 | 304 | 279 |
IM-21-006 | 594254 | 5884724 | 1410 | -48 | 121 | 279 |
IM-21-007 | 594913 | 5884186 | 1293 | -55 | 106 | 300 |
IM-21-008 | 593862 | 5884912 | 1396 | -49 | 322 | 201 |
IM-21-009 | 593689 | 5885193 | 1396 | -49 | 153 | 312 |
IM-21-010 | 593862 | 5884911 | 1395 | -49 | 300 | 150 |
Figure 1: Cariboo deposit areas with drill locations.
Figure 1: Cariboo deposit areas with drill locations.
Figure 2: Mosquito Creek detail area with drill intercept highlights
Figure 2: Mosquito Creek detail area with drill intercept highlights
Figure 3: Mosquito Creek drill cross section
Figure 3: Mosquito Creek drill cross section
2021 GlobeNewswire, Inc., source