Oban Mining Corporation announced that initial results from recent drilling at the Windfall Lake gold project located in Urban Barry Township, Québec has intersected significant new gold mineralization. The results from the ongoing 55,000 metre drill program include the following highlights from intersections representing new intercepts and potential new mineralized lenses: 7.04 g/t Au over 20.4 metres (hole OBM-15-559); 7.0 g/t Au over 10.0 metres (hole OBM-15-559); 10.0 g/t Au over 3.7 metres (hole OBM-15-559); and 7.46 g/t Au over 4.7 metres (hole OBM-15-557). Holes drilled below the Red Dog dyke are designed to test three major corridors of alteration and mineralization (FW-1, FW-3, FW-4) that are oriented ENE and dipping steeply to the SE, similar to the known lenses of the Main Zone defined above the Red Dog dyke.

In most cases, the alteration and mineralization was present at the interpreted projection of the lenses. Some of the holes intersected other lenses before reaching their deep targets. Hole OBM-15-552 (section 2300E) extended the Caribou S1 lens, located above the Red Dog dyke by 30 metres to the SW with an interval assaying 5.7 g/t gold over 3.0 metres at 449.0 metres hole depth.

It also intersected the FW-1, FW-3, and FW-4 lenses with a best single assay 8.09 g/t gold over 1.0 metre in FW-4. OBM-15-554 (section 2150E) intersected strong pyrite mineralization in a moderately to strongly altered porphyry dyke within the FW-3 lens, and strongly altered andesite within the FW-4 lens with anomalous assay values. An intercept of 18.15 g/t gold over 1.0 metre was obtained to the NW of the FW-4 lens, suggesting that additional gold mineralization may exist further to the northwest. OBM-15-556 (section 1700E) intersected strongly altered rock units within the three targeted lenses with a best assay of 65.4 g/t gold over 0.3 m in FW-1-lens.

OBM 15-557 (section 2300E) tested the FW-3 lens at 815 metres below surface, and returned 7.46 g/t gold over 4.7 metres in a silicified porphyry dyke. OBM-15-559 (section 2775E) tested the down plunge extension of the high grade portion of the FW-3 lens at a vertical depth of 930 metres. This hole intersected a hydrothermal breccia in a fragmental porphyry dyke with 2-5% pyrite, traces of chalcopyrite and tourmaline-pyrite veinlets.

Assays are pending for this lens. The hole also intersected significant gold mineralization immediately above the Red Dog dyke with 7.04 g/t gold over 20.4 metres. This interval is located 70 metres to the ENE of hole EAG-12-448 (9.09 g/t gold over 5.7 metres, historic Eagle Hill intercept) and 32 metres WSW of hole NOT-07-169 (15.89 g/t gold over 1.8 metres, historic Noront intercept).

The new results suggest the possible continuity of gold over 100 metres for this newly defined lens that remains open down dip for another 100 metres above the Red Dog dyke and along its strike extension. Hole OBM-15-559 also intersected two potential new lenses at 681 metres with 10.00 g/t gold over 3.7 metres and at 751 metres with 7.00 g/t gold over 10.0 metres immediately above the Red Dog intrusion. Both intersections remain open along their strike to the ENE where drilling is non-existant.

OBM-15-553, OBM-15-555, and OBM-15-558 were abandoned due to excessive direction deviation. Historical hole EAG-11-311 (section 2200E) was extended from 1,037 metres to 1,226 metres to test the FW-4 mineralized corridor at a vertical depth of 965 metres below surface. The corridor was intersected from 1,114.6 to 1,135.1 metres with 3-10% pyrite in an altered andesite intruded by porphyry dykes.

The interval was anomalous in gold with 0.19 g/t gold over 20.5 metres.