Osisko Announces Multiple New High-Grade Gold Discoveries Adjacent to Main Deposits at the Cariboo Gold Project - Seite 2

At Valley Zone, 11,000 meters have been drilled in 57 holes in 2020. This news release discusses the initial assay results returned. Highlights include 9.99 g/t Au over 5.95 meters including 84.5 g/t Au over 0.50 meter in hole CM-20-025. The majority of the drilling proposed for the remainder of 2020 will occur in the Valley Zone vein corridors. The Valley Zone has not been drill tested since 2017, and significant potential exists to add both inferred and indicated resource to the deposit.

On Barkerville Mountain, the newly discovered Lowhee Zone, interpreted to be an offset strike extension of the Cow Mountain Deposit, is rapidly demonstrating high-grade vein corridors with systematic exploration drilling. This news release includes the drill results from the remaining 11 holes drilled at KL in 2019, the remaining 20 holes from Lowhee drilled in 2019 and the first 24 drillholes from Lowhee drilled in 2020 (Figure 5).

At Lowhee Zone, a total of 18,000 meters in 48 holes have been drilled to date. Recent results from Lowhee include 20.66 g/t Au over 12.80 meters with a sample of 352 g/t Au over 0.65 meter located 100 meters from surface in in exploration hole BM-19-105. BM-19-109 intersected 10.53 g/t Au over 18.70 meters. Multiple intercepts greater than 100 g/t Au include 186.5 g/t Au over 0.50 meter in hole BM-19-101, 327 g/t Au over 0.50 meter in BGM-19-111, 159 g/t Au over 0.50 meter in BM-20-013 and 249 g/t Au over 0.55 meter in BM-20-016. The Lowhee Zone has been drill tested to a vertical depth averaging 350 meters along a current strike of 300 meters by 500 meters and is open in all directions.

At KL Zone, located in the footwall of the Bonanza Ledge and BC Vein Deposits, a total of 36,000 meters were drilled in 87 holes in 2019. Recent results from the KL Zone include 11.87 g/t Au over 5.80 meters in BM-19-079 and 8.84 g/t Au over 10.40 meters from BM-19-093. The apparent strike length of this system is 1.5 kilometers, outlined from the recent drill results and the Company’s detailed lithological and structural mapping programs conducted over the last two years. Figure 5 illustrates the location of the drilling on Lowhee and KL.

In 2019, drilling at Cariboo successfully made multiple new discoveries, including Proserpine Mountain, located 6 kilometers south east of the Company’s Bonanza Ledge Mine. Based on detailed geologic mapping and sampling programs carried out in 2019 (Figure 2). A total 2,675 meters were drilled in 6 holes over a strike length of 1 kilometer. One stratigraphic hole was drilled to define the extents of the prospective sandstone unit and five holes explored for mineralized vein corridors.