Osisko hits shallow gold near Chibougamau

Osisko Exploration (OSK-V) has intersected significant gold at shallow depths on the Barry gold project, 180 km southwest of Chibougamau in the Abitibi region of Quebec.

Ten holes (359 metres) were drilled, improving the grade and the known extent of mineralization. One infill hole intersected 17.2 metres grading 3.93 grams gold per tonne. Three holes drilled to verify earlier drilling intersected grades ranging from 3.74 to 8.22 grams gold over 16-21 metres at depths of 0-22 metres.

The main zone has a strike length of at least 500 metres and is a quartz-pyrite-gold stockwork within a northeast-trending shear in volcanic rock. Drilling has defined a 25-to-30-metre-wide zone.

Hole 108 intersected 26.6 metres grading 3.57 grams gold per tonne. This includes a 6.4-metre intercept of 11.8 grams gold, which extended the zone 50 metres to the southwest. Another hole, drilled farther to the southwest, confirmed the 500-metre strike length and intersected 15.5 metres grading 2.16 grams gold at 19.5 metres down-hole.

Hole 105 tested the updip projection of the main zone and intersected 11 metres grading 2.06 grams gold, from 2 to 13 metres down-hole, extending the zone by about 17 metres to the north.

One hole failed to intersect significant gold; a review of the geophysics suggests the zone may be farther north.

Two holes tested an induced-polarization anomaly 170 metres northwest of the main zone, and failed to intersect significant gold.

Osisko has an option to earn up to 65% in the five claims that comprise the 80-hectare Barry property. Four of the claims are owned by Murgor Resources (MUG-V), and one is shared equally by Murgor and Freewest Resources Canada (FWR-V). There is also a 2% net smelter royalty due to the original vendors of the property.