Osisko Mining Corporation
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Osisko Mining Corporation

May 03, 2007 09:35 ET

Osisko Intersects 262 m Averaging 1.37 g/t Au at Canadian Malartic

MONTREAL, QUEBEC--(CCNMatthews - May 3, 2007) - Osisko Exploration Ltd. (TSX VENTURE:OSK)(FRANKFURT:EWX) is pleased to announce new results from the 30m x 30m definition drilling program at its 100%-owned Canadian Malartic gold property. The holes reported below are part of the ongoing Phase 8 western infill program. Major new intercepts include 262.4 m averaging 1.37 g/t Au (CM06-947) and 103.9 m averaging 1.21 g/t Au (CM06-949). Higher grade intercepts include 35.3 m averaging 4.89 g/t Au (CM06-946).

Significant results obtained from 20 new holes are tabled below. The results are in line with expectations and continue to confirm the integrity of the geological model and continuity of mineralization in the deposit.



WESTERN INFILL
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Hole No. Section From (m) To (m) Length (m) Au g/t

CM06-925 3412E 2.8 17.0 14.2 0.82
CM06-926 3260E 2.1 112.5 110.4 0.94
And 153.0 249.5 96.5 0.73
CM06-928 3290E 24.0 134.0 110.0 0.72
CM06-930 3380E 1.80 39.0 37.2 0.87
CM06-931 3525E 31.0 186.5 155.5 0.66
And 274.5 424.0 149.5 0.69
CM06-932 3444E 1.0 35.0 34.0 1.52
And 137.5 161.0 23.5 1.34
CM06-933 3444E 6.3 30.9 24.6 1.38
And 87.0 132.0 45.0 1.57
CM06-934 3674E 17.0 42.5 25.5 0.79
CM06-937 3472E 14.0 29.0 15.0 2.37
And 127.0 177.8 50.8 1.16
And 244.5 311.5 67.0 0.59
CM06-938 3525E 151.0 230.5 79.5 0.80
And 275.5 338.0 62.5 0.88
CM06-940 3702E 56.0 118.0 62.0 1.47
CM06-941 3642E 16.0 78.5 62.5 1.25
And 104.5 139.2 34.7 1.09
CM06-942 3702E 113.0 146.4 33.4 0.90
CM06-943 3580E 12.0 81.1 69.1 1.05
CM06-944 3550E 133.5 384.0 250.5 0.75
CM06-945 3580E 12.7 37.0 24.3 0.68
And 59.0 98.4 39.4 0.79
CM06-946 3472E 31.7 67.0 35.3 4.89
And 67.0 140.5 73.5 0.96
And 186.9 361.7 174.8 0.71
CM06-947 3580E 58.1 320.5 262.4 1.37
CM06-949 3642E 4.2 33.0 28.8 1.28
And 56.5 160.4 103.9 1.21
CM06-951 3702E 103.5 174.5 71.0 0.80
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Results from drill holes CM06-926 and CM06-928 represent previously unknown mineralization intersected at the western end of the F zone. The lower mineralized intercepts in CM06-937 (67.0 m averaging 0.59 g/t Au) and in CM06-946 (174.8 m averaging 0.71 g/t Au) also represent previously unknown mineralization located below the F Zone on line 3472E. The upper higher grade intersection in CM06-946 (35.3 m averaging 4.89 g/t Au) is located along the southern margin of the F zone.

Drill holes CM06-927, -929, -935, -936, -939 and -948 all intersected minor mineralization located north and south of the known deposit. Drill hole CM06-950 intersected underground workings and did not reach the anticipated mineralized zone.

The Canadian Malartic gold deposit is being evaluated for large-scale open pit, bulk-tonnage mining potential. A preliminary NI 43-101 compliant, inferred gold resource estimation on the main deposit was released on December 6, 2006 and the full report has now been filed on SEDAR. Ongoing drilling will lead to an upgraded inferred resource calculation, which is slated for the end of the second quarter of 2007.

All NQ core assays were conducted using standard 50 g fire assaying-AA finish at ALS Chemex laboratories in Val d'Or, Quebec. Reported weighted averages were calculated using a minimum of 0.30 g/t Au over successive 20 metre intervals with no upper cut-off of individual assays. Mr. Robert Wares, P. Geo. and Executive Vice-President of Osisko, is the Qualified Person responsible for the technical information reported in this news release.

Contact Information

  • Osisko Exploration Ltd.
    John Burzynski
    Vice-President Corporate Development
    514-735-7131
    www.osisko.com
    or
    Osisko Exploration Ltd.
    Daniel Boase
    Investor Relations
    416-742-5600
    Toll Free: 1-866-580-8891