Osisko Drills 66 M Averaging 4.39 G/t Au At Malartic
June 11, 2007
Mr. John Burzynski reports
OSISKO INTERSECTS 66.0 M AVERAGING 4.39 G/T AU AT CANADIAN MALARTIC
Osisko Exploration Ltd. has released new results from the drilling program at its 100-per-cent-owned Canadian Malartic gold property. Results from 35 new holes are tabled below. The new drilling was focused on the Western Infill program (30-metre by 30-metre definition program) and on the Southern Extension of the deposit. All results from the Southern Extension represent new mineralized intercepts, located between lines 4215E to 4700E. Significant new intercepts include 66.0 metres averaging 4.39 grams per tonne Au (CM06-986) which incorporate a high-grade intercept of 7.5 m averaging 27.2 g/t Au. Additional significant results include 134.9 m averaging 1.66 g/t Au (CM06-988) and 311.5 m averaging 0.69 g/t Au (CM06-955), which is one of the longest continuous mineralized zones intercepted to date.
Detailed results returned from 14 new holes from the 30-metre by 30-metre Western Infill drilling are tabled below. All results are in line with expectations and continue to confirm the integrity of the geological model and continuity of mineralization intersected in the previously completed 60-metre by 60-metre grid drilling program.
WESTERN INFILL
Hole No.
Section
From (m)
To (m)
Length (m)
Au g/t
CM06-952
3642E
128.0
146.0
18.0
1.12
CM06-953
3642E
10.0
50.5
40.5
3.01
CM06-955
3525E
25.5
337.0
311.5
0.69
CM06-954
3674E
84.5
99.5
15.0
1.22
CM06-956
3642E
100.0
120.5
20.5
2.64
CM07-957
3580E
0.4
44.5
44.1
1.03
CM07-958
3525E
2.7
17.5
14.8
1.30
And
222.0
253.5
31.5
0.80
CM07-959
3525E
6.0
62.5
56.5
1.08
And
121.5
162.0
40.5
0.94
CM07-960
3525E
6.5
24.5
18.0
1.25
And
142.5
218.5
76.0
0.63
CM07-962
3580E
121.0
205.5
84.5
1.03
And
284.0
321.5
37.5
0.72
CM07-963
3580E
86.0
367.5
281.5
0.81
CM07-986
3702E
74.0
87.5
13.5
1.48
And
132.0
198.0
66.0
4.39
Including
152.5
160.0
7.5
27.2
And
284.0
286.0
2.0
20.0
CM07-987
3702E
6.0
31.5
25.0
1.80
Including
26.0
27.5
1.5
12.2
And
53.5
68.0
14.5
2.46
And
115.5
150.5
35.0
1.09
CM07-988
3580E
1.6
136.5
134.9
1.66
Including
15.0
22.5
7.5
6.43
And
198.0
292.5
94.5
0.92
Drill hole CM07-955 was a vertical hole collared in the core of the F zone porphyry and represents one of the longest continuous mineralized zones intersected to date on the Canadian Malartic deposit (0.69 g/t Au over 311.5 metres). CM07-986 was a vertical hole collared between historic mine workings on the southern portion of Section 3702E, immediately east of the F zone. A high-grade silicified and partially brecciated zone in metasediments assayed 27.2 g/t Au over 7.5 metres (true width unknown).
Drill holes CM07-961, -985 and -997 were collared between the F zone and the P zone and did not intersect significant mineralization.
Southern Extension
Results from 21 (mostly vertical) holes in the Southern Extension are tabled below. These intercepts have extended mineralization an additional 110 to 230 metres farther south along a strike length of 360 metres (between sections 4400E and 4760E). The intercepts all represent mineralization at grades above the 0.5 g/t Au cut-off outlined in the December, 2006, inferred resource calculation. The main mineralized system remains open to the south in this area and appears to plunge to the southeast.
SOUTHERN EXTENSION
Hole No.
Section
From (m)
To (m)
Length (m)
Au g/t
CM07-964
4640E
218.5
298.0
79.5
0.59
CM07-965
4580E
149.0
190.5
41.5
0.79
And
273.0
333.5
60.5
0.98
CM07-966
4640E
103.0
126.0
23.0
1.03
And
269.5
337.0
67.5
0.85
CM07-967
4580E
184.5
256.0
71.5
0.52
CM07-969
4640E
37.0
57.5
20.5
0.72
And
250.5
289.0
38.5
1.15
CM07-971
4580E
88.0
162.0
74.0
0.80
CM07-972
4520E
14.5
108.2
93.7
0.76
And
163.5
276.2
112.7
0.58
CM07-973
4580E
56.0
139.7
83.7
0.57
CM07-974
4520E
46.0
109.0
63.0
1.29
CM07-975
4520E
176.0
231.5
55.5
0.82
CM07-976
4460E
45.5
58.4
12.9
3.36
And
132.5
173.0
40.5
0.65
CM07-977
4460E
37.5
60.5
23.0
0.72
CM07-978
4400E
101.5
156.4
54.9
0.93
CM07-979
4400E
73.5
116.5
43.0
1.15
CM07-980
4338E
5.8
37.5
31.7
0.95
CM07-982
4760E
243.5
391.9
148.4
1.12
CM07-983
4700E
172.0
189.0
17.0
1.27
And
243.5
316.0
72.5
0.53
CM07-989
4700E
298.5
376.5
78.0
0.84
CM07-992
4700E
303.0
376.5
73.5
0.88
CM07-993
4277E
16.6
38.9
22.3
0.55
CM07-998
4215E
87.5
122.3
34.8
0.92
Drill holes CM07-981, -990, -991 and -994 to -996 were collared near the Gilbert zone between sections 4215E and 4338E and did not intersect significant mineralization. This indicates that the main system is closed to the south between these sections.
The Canadian Malartic gold deposit and adjacent areas are being evaluated for a large-scale open pit, bulk-tonnage mining operation. A preliminary NI 43-101-compliant, inferred gold resource estimate on the main deposit was released in Stockwatch Dec. 6, 2006, and the full report has now been filed on SEDAR. Continuing drilling will lead to an upgraded inferred resource calculation, which is slated to be released at the end of the second quarter of 2007.
All NQ core assays were conducted using standard 50-gram fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Que. Reported weighted averages were calculated using a minimum of 0.40 g/t Au over successive 20-metre intervals with no upper cut-off of individual assays and maximum dilution of 20 metres. Robert Wares, PGeo, executive vice-president of Osisko, is the qualified person responsible for the technical information reported in this news release.
Please contact First Canadian Capital for further information Tel: 416-742-5600 Toll Free: 1-866-580-8891
For further information on Osisko, contact:
First Canadian Capital Corpat 416-742-5600
or toll free at 1-866-580-8891
or email to request@firstcanadiancapital.com
