Osisko discovers two new gold-copper zones at Upper Beaver
Friday, Mar 22, 2013
Osisko Mining Corporation (TSX:OSK)(FRANKFURT:EWX) ("Osisko") is pleased to announce that new drilling at the Upper Beaver gold project located in Kirkland Lake, Ontario has led to the discovery of two new gold-copper zones.
Additional new results from infill drilling on previously known mineralized zones include the following highlights: 3.2 g/t Au with 0.8% Cu over 30.0 metres (UB13-278), 16.1 g/t Au with 8.8% Cu over 3.0 metres and 11.4 g/t Au with 3.3% Cu over 3.0 metres (hole UB13-280) from the North Basalt Zone and 5.4 g/t Au with 0.5% Cu over 59.0 metres (hole UB13-262W4) from the Porphyry West Zone.
The table below outlines the results of 10 new holes completed in 2013 as part of the ongoing exploration and in-fill resource definition drill program at Upper Beaver.
Step-out exploration drilling in the first quarter of 2013 has intersected two new gold-copper discoveries: the East Basalt Zone and the North Q Zone, both occurring in mafic volcanic rocks adjacent to the Upper Beaver Igneous Complex.
Four holes (UB13-279, -281, -284 and -287) drilled approximately 700 metres north-east of the Upper Beaver deposit have intersected new copper-gold mineralization in the East Basalt Zone. All four holes drilled on the same section intersected the mineralization starting at 75 m below surface. The most significant result was intersected in hole UB13-284 where a 18.1 metre thick continuous zone of gold and copper mineralization assayed 9.3 g/t Au with 1.7% Cu, included is an interval assaying 13.1 g/t Au with 2.8% Cu over 11.1 metres. Hole UB13-287 drilled below UB13-284 intersected 2.2 g/t Au with 0.5% Cu over 17.8 metres. The chalcopyrite-magnetite stringer mineralization at the East Basalt Zone dips steeply to the north and resembles the mineralization previously mined near the south-west margin of the igneous complex.
Two holes (UB13-282 and -288) drilled approximately 400 metres north-west of the Upper Beaver deposit intersected the new North Q Zone. The holes intersected multiple stringers of gold and copper mineralization approximately 200 metres below surface with significant intervals assaying 3.2 g/t Au with 0.6% Cu over 8.0 metres including 11.0 g/t Au with 1.6% Cu over 2.0 metres (hole UB13-182) and 1.84 g/t Au with 0.3% Cu over 14.0 metres including 4.4 g/t Au with 0.75% Cu over 4.0 metres (UB13-288).
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