Osisko Metals Incorporated (the "
Company" or
"
Osisko Metals") (TSX-V: OM;
OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce further
results from the definition drilling program at its Pine Point
Project, located in the Northwest Territories, Canada. This program
is designed to achieve an average drill spacing of approximately 30
metres and is required to upgrade deposits currently classified as
Inferred Mineral Resources to the Indicated Mineral Resource
category so that they can be included in a feasibility study.
Currently, the Company is nearing completion of
the 2022 PEA Update that will include updated commodity prices and
reduced dewatering costs.
The results reported today are from the late
2021 drill program and are located in the Central Zone and the East
Mill Zone (see Map 1 and Tables 1 & 2). All intercepts were in
Tabular-style mineralization and are within modelled open pit
boundaries and underground stope areas.
Assays met expectations and confirmed continuity
of mineralization within the current Mineral Resource areas.
Further assay results are pending from the 2021 program, as well as
all of the results from the 2022 Winter drill program that began in
late January.
Mineralization was intersected between 82 and 50
metres vertical depth in the Central Zone and between 41 and 13
metres vertical depth in the East Mill Zone.
Highlights Include:
- Drill
hole K60-21-PP-004 intersected 8.95 metres grading 11.92%
Zn and 25.49% Pb (37.41% Zn+Pb).
- Drill
hole M6263-21-PP-005 intersected 6.00 metres grading 14.96%
Zn and 5.02% Pb (19.97% Zn+Pb).
- Drill
hole N39-21-PP-022 intersected 8.00 metres grading 8.20% Zn
and 0.37% Pb (8.57% Zn+Pb).
- Drill
hole N39-21-PP-038 intersected 3.65 metres grading 14.04%
Zn and 3.63% Pb (17.67% Zn+Pb).
Jeff Hussey, President & COO, commented: “We
have now completed approximately 60% of the required infill
drilling to convert all of the Inferred Mineral Resources at Pine
Point to the Indicated Mineral Resource category. We are still
impressed with the continuity of mineralization as the definition
drilling confirms extent and grade distribution. Results to date
also indicate significant potential to expand mineralization beyond
current Mineral Resources through additional drilling. We look
forward to the completion of the program by mid 2023 and the update
to the Mineral Resource Estimate that will be concurrent to the
Feasibility Study. In the short term we will be issuing the 2022
PEA update and we look forward to positive results.”
Hydrogeological Program
Update
A total of thirty-eight drill holes will have
been surveyed for hydrogeological purposes by the end of the 2022
winter drill program. Profile tracer tests measure water flow and
that dataset will be added to the hydrogeological modelling process
as we move toward the feasibility study.
Table 1: Drill Hole
Composites.
Hole Name |
Zone |
Deposit |
From |
To |
DrillWidth |
TrueWidth |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
K60-21-PP-001 |
Central - 1 |
K60 |
50.75 |
52.05 |
1.30 |
1.30 |
4.24 |
2.63 |
6.86 |
K60-21-PP-002 |
Central - 1 |
K60 |
55.40 |
56.10 |
0.70 |
0.70 |
1.91 |
0.11 |
2.02 |
K60-21-PP-004 |
Central - 1 |
K60 |
50.65 |
59.60 |
8.95 |
8.95 |
11.92 |
25.49 |
37.41 |
K60-21-PP-005 |
Central - 1 |
K60 |
61.20 |
62.60 |
1.40 |
1.40 |
9.66 |
1.33 |
10.99 |
K60-21-PP-006 |
Central - 1 |
K60 |
59.00 |
60.00 |
1.00 |
1.00 |
1.78 |
0.37 |
2.14 |
K60-21-PP-007 |
Central - 1 |
K60 |
57.20 |
58.20 |
1.00 |
1.00 |
19.05 |
2.01 |
21.06 |
K60-21-PP-007 |
Central - 1 |
K60 |
62.15 |
63.00 |
0.85 |
0.85 |
10.05 |
1.67 |
11.72 |
K60-21-PP-007 |
Central - 1 |
K60 |
66.20 |
66.60 |
0.40 |
0.40 |
2.15 |
2.69 |
4.84 |
K60-21-PP-007 |
Central - 1 |
K60 |
69.00 |
69.50 |
0.50 |
0.50 |
3.50 |
0.54 |
4.04 |
|
|
|
|
|
|
|
|
|
|
Hole Name |
Zone |
Deposit |
From |
To |
DrillWidth |
TrueWidth |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
M6263-21-PP-003 |
Central - 1 |
M6263 |
72.34 |
73.34 |
1.00 |
1.00 |
2.80 |
0.45 |
3.25 |
M6263-21-PP-005 |
Central - 1 |
M6263 |
64.65 |
70.65 |
6.00 |
6.00 |
14.96 |
5.02 |
19.97 |
M6263-21-PP-006 |
Central - 1 |
M6263 |
67.00 |
68.00 |
1.00 |
1.00 |
2.78 |
6.75 |
9.53 |
M6263-21-PP-006 |
Central - 1 |
M6263 |
81.00 |
82.00 |
1.00 |
1.00 |
13.05 |
0.20 |
13.25 |
M6263-21-PP-008 |
Central - 1 |
M6263 |
59.05 |
61.55 |
2.50 |
2.50 |
6.40 |
0.70 |
7.11 |
M6263-21-PP-008 |
Central - 1 |
M6263 |
63.05 |
66.05 |
3.00 |
3.00 |
10.85 |
0.47 |
11.32 |
M6263-21-PP-017 |
Central - 1 |
M6263 |
61.45 |
65.45 |
4.00 |
4.00 |
8.35 |
0.61 |
8.96 |
M6263-21-PP-018 |
Central - 1 |
M6263 |
58.81 |
59.81 |
1.00 |
1.00 |
16.40 |
27.57 |
43.97 |
M6263-21-PP-019 |
Central - 1 |
M6263 |
57.66 |
58.66 |
1.00 |
1.00 |
0.05 |
9.54 |
9.59 |
M6263-21-PP-020 |
Central - 1 |
M6263 |
58.55 |
62.55 |
4.00 |
4.00 |
11.14 |
0.46 |
11.60 |
M6263-21-PP-021 |
Central - 1 |
M6263 |
65.50 |
66.50 |
1.00 |
1.00 |
0.17 |
0.02 |
0.19 |
M6263-21-PP-022 |
Central - 1 |
M6263 |
57.85 |
58.50 |
0.65 |
0.65 |
1.31 |
0.02 |
1.33 |
|
|
|
|
|
|
|
|
|
|
Hole Name |
Zone |
Deposit |
From |
To |
DrillWidth |
TrueWidth |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
M40-21-PP-001 |
East Mill |
M40 |
33.00 |
38.00 |
5.00 |
5.00 |
4.55 |
5.16 |
9.71 |
N39-21-PP-009 |
East Mill |
N39 |
21.00 |
21.70 |
0.70 |
0.70 |
13.70 |
4.05 |
17.75 |
N39-21-PP-009 |
East Mill |
N39 |
25.50 |
29.00 |
3.50 |
3.50 |
10.75 |
0.74 |
11.49 |
N39-21-PP-011 |
East Mill |
N39 |
29.15 |
29.65 |
0.50 |
0.50 |
10.15 |
1.28 |
11.43 |
N39-21-PP-012 |
East Mill |
N39 |
24.63 |
25.13 |
0.50 |
0.50 |
6.19 |
0.63 |
6.82 |
N39-21-PP-014 |
East Mill |
N39 |
41.50 |
42.00 |
0.50 |
0.50 |
0.35 |
0.00 |
0.35 |
N39-21-PP-015 |
East Mill |
N39 |
26.00 |
28.00 |
2.00 |
2.00 |
10.66 |
3.65 |
14.30 |
N39-21-PP-018 |
East Mill |
N39 |
26.30 |
27.30 |
1.00 |
1.00 |
11.45 |
1.00 |
12.45 |
N39-21-PP-018 |
East Mill |
N39 |
30.80 |
31.80 |
1.00 |
1.00 |
6.94 |
0.72 |
7.66 |
N39-21-PP-022 |
East Mill |
N39 |
15.30 |
23.30 |
8.00 |
8.00 |
8.20 |
0.37 |
8.57 |
N39-21-PP-029 |
East Mill |
N39 |
24.43 |
26.43 |
2.00 |
2.00 |
11.78 |
1.83 |
13.60 |
N39-21-PP-030 |
East Mill |
N39 |
25.00 |
26.00 |
1.00 |
1.00 |
11.30 |
6.17 |
17.47 |
N39-21-PP-031 |
East Mill |
N39 |
26.35 |
27.35 |
1.00 |
1.00 |
18.55 |
1.89 |
20.44 |
N39-21-PP-032 |
East Mill |
N39 |
23.00 |
26.76 |
3.76 |
3.76 |
8.48 |
1.20 |
9.68 |
N39-21-PP-033 |
East Mill |
N39 |
28.00 |
31.00 |
3.00 |
3.00 |
4.14 |
0.43 |
4.57 |
N39-21-PP-034 |
East Mill |
N39 |
28.00 |
28.80 |
0.80 |
0.80 |
1.89 |
0.11 |
2.00 |
N39-21-PP-035 |
East Mill |
N39 |
27.00 |
28.00 |
1.00 |
1.00 |
1.76 |
0.02 |
1.78 |
N39-21-PP-036 |
East Mill |
N39 |
27.60 |
28.10 |
0.50 |
0.50 |
2.25 |
1.29 |
3.54 |
N39-21-PP-037 |
East Mill |
N39 |
23.20 |
24.00 |
0.80 |
0.80 |
5.78 |
3.96 |
9.74 |
N39-21-PP-038 |
East Mill |
N39 |
19.65 |
23.30 |
3.65 |
3.65 |
14.04 |
3.63 |
17.67 |
N39-21-PP-039 |
East Mill |
N39 |
21.30 |
23.30 |
2.00 |
2.00 |
5.86 |
1.80 |
7.66 |
N39-21-PP-040 |
East Mill |
N39 |
30.00 |
30.70 |
0.70 |
0.70 |
0.34 |
0.00 |
0.34 |
N39-21-PP-042 |
East Mill |
N39 |
31.50 |
32.00 |
0.50 |
0.50 |
6.70 |
0.30 |
7.00 |
N39-21-PP-044 |
East Mill |
N39 |
15.00 |
16.00 |
1.00 |
1.00 |
15.80 |
0.74 |
16.54 |
N39-21-PP-041 |
East Mill |
N39 |
30.14 |
30.64 |
0.50 |
0.50 |
11.60 |
26.29 |
37.89 |
N39-21-PP-043 |
East Mill |
N39 |
15.00 |
16.00 |
1.00 |
1.00 |
7.30 |
0.27 |
7.57 |
N39-21-PP-043 |
East Mill |
N39 |
27.00 |
27.50 |
0.50 |
0.50 |
6.88 |
0.99 |
7.87 |
N39-21-PP-044 |
East Mill |
N39 |
15.00 |
16.00 |
1.00 |
1.00 |
15.80 |
0.74 |
16.54 |
N39-21-PP-045 |
East Mill |
N39 |
27.15 |
28.10 |
0.95 |
0.95 |
3.56 |
0.45 |
4.01 |
|
|
|
|
|
|
|
|
|
|
Hole Name |
Zone |
Deposit |
From |
To |
DrillWidth |
TrueWidth |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
L27-21-PP-001 |
East Mill |
L27 |
17.50 |
18.50 |
1.00 |
1.00 |
5.66 |
1.06 |
6.72 |
L27-21-PP-002 |
East Mill |
L27 |
16.00 |
17.00 |
1.00 |
1.00 |
12.55 |
2.48 |
15.03 |
|
|
|
|
|
|
|
|
|
|
Hole Name |
Zone |
Deposit |
From |
To |
DrillWidth |
TrueWidth |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
L35-21-PP-011 |
East Mill |
L35 |
39.00 |
41.05 |
2.05 |
2.05 |
12.66 |
4.07 |
16.73 |
L35-21-PP-012 |
East Mill |
L35 |
35.80 |
36.40 |
0.60 |
0.60 |
8.65 |
0.37 |
9.02 |
L35-21-PP-012 |
East Mill |
L35 |
41.40 |
43.10 |
1.70 |
1.70 |
11.51 |
0.29 |
11.80 |
L35-21-PP-013 |
East Mill |
L35 |
34.00 |
35.00 |
1.00 |
1.00 |
8.21 |
0.82 |
9.03 |
L35-21-PP-014 |
East Mill |
L35 |
30.00 |
31.00 |
1.00 |
1.00 |
10.70 |
1.80 |
12.50 |
L35-21-PP-014 |
East Mill |
L35 |
36.00 |
39.25 |
3.25 |
3.25 |
5.59 |
2.10 |
7.69 |
L35-21-PP-015 |
East Mill |
L35 |
29.00 |
30.00 |
1.00 |
1.00 |
0.19 |
10.50 |
10.69 |
L35-21-PP-016 |
East Mill |
L35 |
33.00 |
34.00 |
1.00 |
1.00 |
4.40 |
0.65 |
5.05 |
L35-21-PP-017 |
East Mill |
L35 |
30.00 |
30.50 |
0.50 |
0.50 |
0.94 |
0.21 |
1.15 |
L35-21-PP-018 |
East Mill |
L35 |
24.00 |
24.65 |
0.65 |
0.65 |
9.00 |
0.03 |
9.03 |
L35-21-PP-019 |
East Mill |
L35 |
24.00 |
25.00 |
1.00 |
1.00 |
0.73 |
0.09 |
0.81 |
L35-21-PP-020 |
East Mill |
L35 |
17.85 |
18.55 |
0.70 |
0.70 |
1.16 |
0.01 |
1.17 |
L35-21-PP-021 |
East Mill |
L35 |
30.20 |
31.25 |
1.05 |
1.05 |
10.30 |
1.05 |
11.35 |
L35-21-PP-022 |
East Mill |
L35 |
23.72 |
24.20 |
0.48 |
0.48 |
16.20 |
3.83 |
20.03 |
L35-21-PP-023 |
East Mill |
L35 |
28.00 |
29.00 |
1.00 |
1.00 |
2.46 |
0.12 |
2.58 |
L35-21-PP-025 |
East Mill |
L35 |
13.00 |
14.00 |
1.00 |
1.00 |
17.75 |
0.16 |
17.91 |
L35-21-PP-025 |
East Mill |
L35 |
19.00 |
22.50 |
3.50 |
3.50 |
5.33 |
0.70 |
6.04 |
L35-21-PP-025 |
East Mill |
L35 |
25.00 |
26.10 |
1.10 |
1.10 |
6.30 |
0.62 |
6.92 |
L35-21-PP-026 |
East Mill |
L35 |
24.00 |
24.50 |
0.50 |
0.50 |
12.05 |
12.45 |
24.50 |
L35-21-PP-028 |
East Mill |
L35 |
18.60 |
19.60 |
1.00 |
1.00 |
1.62 |
0.08 |
1.70 |
L35-21-PP-029 |
East Mill |
L35 |
23.00 |
27.00 |
4.00 |
4.00 |
9.23 |
0.57 |
9.80 |
L35-21-PP-029 |
East Mill |
L35 |
36.70 |
37.20 |
0.50 |
0.50 |
4.44 |
0.77 |
5.21 |
L35-21-PP-030 |
East Mill |
L35 |
16.00 |
17.00 |
1.00 |
1.00 |
2.38 |
0.93 |
3.31 |
L35-21-PP-031 |
East Mill |
L35 |
12.00 |
14.00 |
2.00 |
2.00 |
8.14 |
3.88 |
12.01 |
L35-21-PP-031 |
East Mill |
L35 |
16.00 |
17.10 |
1.10 |
1.10 |
10.05 |
1.30 |
11.35 |
L35-21-PP-032 |
East Mill |
L35 |
38.00 |
39.50 |
1.50 |
1.50 |
14.45 |
2.36 |
16.80 |
L35-21-PP-033 |
East Mill |
L35 |
14.00 |
16.00 |
2.00 |
2.00 |
4.54 |
0.62 |
5.16 |
|
|
|
|
|
|
|
|
|
|
Hole Name |
Zone |
Deposit |
From |
To |
DrillWidth |
TrueWidth |
Zn |
Pb |
Zn+Pb |
(m) |
(m) |
(m) |
(m) |
% |
% |
% |
N32-21-PP-001 |
East Mill |
N32 |
22.45 |
23.45 |
1.00 |
1.00 |
0.30 |
0.82 |
1.12 |
N32-21-PP-002 |
East Mill |
N33 |
17.00 |
17.50 |
0.50 |
0.50 |
0.41 |
0.40 |
0.81 |
N32-21-PP-003 |
East Mill |
N34 |
26.00 |
26.90 |
0.90 |
0.90 |
3.92 |
0.19 |
4.11 |
N32-21-PP-004 |
East Mill |
N35 |
15.35 |
16.35 |
1.00 |
1.00 |
0.37 |
1.52 |
1.88 |
N32-21-PP-005 |
East Mill |
N36 |
19.35 |
22.60 |
3.25 |
3.25 |
4.87 |
2.70 |
7.57 |
N32-21-PP-006 |
East Mill |
N37 |
18.00 |
19.00 |
1.00 |
1.00 |
0.91 |
0.82 |
1.73 |
Qualified Person
Mr. Robin Adair is the Qualified Person and the
Vice President Exploration for Osisko Metals Incorporated. He is
responsible for the technical data reported in this news release
and he is a Professional Geologist registered in the Northwest
Territories.
Quality Assurance / Quality
Control
Osisko Metals adheres to a strict QA/QC program
for core handling, sampling, sample transportation and analyses.
Drill core samples from the Pine Point project area are securely
transported to its core facility on site, where they were logged
and sampled. Samples selected for assay are shipped to ALS Canada
Ltd.’s preparation facility in Yellowknife. Pulps are analyzed at
the ALS Canada Ltd. facility in North Vancouver, BC. All samples
are analyzed by four acid digestion followed by both ICP-AES and
ICP-MS for a multi-element suite with a 1% upper detection limit
for base metals. Samples reporting over 1% for Zn and 1% for Pb are
analyzed by assay grade, four acid digestion and ICPAES analysis
with an upper detection limit of 30% and 20% respectively. Samples
reporting Zn >30% and or Pb >20% are analyzed by traditional
titration. Current drill program is following strict COVID19
protocols, enforced as of January 15th, 2021.
Table 2: Drill Hole Collar
Locations (NAD83 (CSRS) Zone 11)
Hole Name |
Zone |
Deposit |
Easting |
Northing |
Elev.(m) |
Azm. |
Dip |
Length(m) |
K60-21-PP-001 |
Central - 1 |
K60 |
630415.9 |
6745332.6 |
216.9 |
0.0 |
-90 |
90.0 |
K60-21-PP-002 |
Central - 1 |
K60 |
630437.0 |
6745342.5 |
216.9 |
0.0 |
-90 |
81.0 |
K60-21-PP-004 |
Central - 1 |
K60 |
630459.6 |
6745353.9 |
217.0 |
0.0 |
-90 |
84.0 |
K60-21-PP-005 |
Central - 1 |
K60 |
630480.3 |
6745334.8 |
216.9 |
0.0 |
-90 |
87.0 |
K60-21-PP-006 |
Central - 1 |
K60 |
630506.5 |
6745347.0 |
217.0 |
0.0 |
-90 |
87.0 |
K60-21-PP-007 |
Central - 1 |
K60 |
630486.6 |
6745355.4 |
216.9 |
0.0 |
-90 |
87.0 |
L27-21-PP-001 |
East Mill |
L27 |
644965.8 |
6752828.7 |
214.5 |
0.0 |
-90 |
30.0 |
L27-21-PP-002 |
East Mill |
L27 |
645028.3 |
6752898.3 |
214.7 |
0.0 |
-90 |
33.0 |
L35-21-PP-011 |
East Mill |
L35 |
642111.2 |
6751588.8 |
215.7 |
0.0 |
-90 |
61.5 |
L35-21-PP-012 |
East Mill |
L35 |
642231.1 |
6751629.0 |
214.9 |
0.0 |
-90 |
60.0 |
L35-21-PP-013 |
East Mill |
L35 |
642276.0 |
6751693.1 |
214.5 |
0.0 |
-90 |
60.0 |
L35-21-PP-014 |
East Mill |
L35 |
642287.7 |
6751585.6 |
215.8 |
0.0 |
-90 |
60.0 |
L35-21-PP-015 |
East Mill |
L35 |
642353.6 |
6751590.7 |
215.7 |
0.0 |
-90 |
54.0 |
L35-21-PP-016 |
East Mill |
L35 |
642369.5 |
6751617.1 |
215.2 |
0.0 |
-90 |
57.0 |
L35-21-PP-017 |
East Mill |
L35 |
642456.8 |
6751671.4 |
214.4 |
0.0 |
-90 |
63.0 |
L35-21-PP-018 |
East Mill |
L35 |
642466.8 |
6751645.7 |
214.7 |
0.0 |
-90 |
57.0 |
L35-21-PP-019 |
East Mill |
L35 |
642612.0 |
6751714.9 |
213.9 |
0.0 |
-90 |
54.0 |
L35-21-PP-020 |
East Mill |
L35 |
642774.0 |
6751874.8 |
214.1 |
0.0 |
-90 |
54.0 |
L35-21-PP-021 |
East Mill |
L35 |
642931.1 |
6751941.4 |
213.7 |
0.0 |
-90 |
51.0 |
L35-21-PP-022 |
East Mill |
L35 |
642991.6 |
6751898.3 |
214.2 |
0.0 |
-90 |
45.0 |
L35-21-PP-023 |
East Mill |
L35 |
643002.6 |
6751946.7 |
214.0 |
0.0 |
-90 |
48.0 |
L35-21-PP-025 |
East Mill |
L35 |
643102.4 |
6752002.5 |
213.8 |
0.0 |
-90 |
42.0 |
L35-21-PP-026 |
East Mill |
L35 |
643214.3 |
6752018.0 |
213.9 |
0.0 |
-90 |
45.0 |
L35-21-PP-028 |
East Mill |
L35 |
643508.9 |
6752099.6 |
214.5 |
0.0 |
-90 |
39.0 |
L35-21-PP-029 |
East Mill |
L35 |
643425.5 |
6752261.5 |
214.9 |
0.0 |
-90 |
51.0 |
L35-21-PP-030 |
East Mill |
L35 |
643533.4 |
6752352.2 |
215.8 |
0.0 |
-90 |
45.0 |
L35-21-PP-031 |
East Mill |
L35 |
643602.0 |
6752315.7 |
215.3 |
0.0 |
-90 |
45.0 |
L35-21-PP-032 |
East Mill |
L35 |
643734.7 |
6752397.2 |
215.1 |
0.0 |
-90 |
48.0 |
L35-21-PP-033 |
East Mill |
L35 |
643736.9 |
6752472.0 |
215.2 |
0.0 |
-90 |
39.0 |
M40-21-PP-001* |
East Mill |
M40 |
639614.3 |
6749591.8 |
222.8 |
0.0 |
-90 |
57.0 |
M6263-21-PP-003 |
Central - 1 |
M6263 |
629525.4 |
6744413.6 |
221.8 |
0.0 |
-90 |
96.0 |
M6263-21-PP-005 |
Central - 1 |
M6263 |
629560.9 |
6744444.4 |
220.9 |
0.0 |
-90 |
90.0 |
M6263-21-PP-006 |
Central - 1 |
M6263 |
629717.5 |
6744382.2 |
223.4 |
0.0 |
-90 |
96.0 |
M6263-21-PP-008* |
Central - 1 |
M6263 |
629822.1 |
6744397.1 |
220.1 |
0.0 |
-90 |
96.0 |
M6263-21-PP-017 |
Central - 1 |
M6263 |
629917.9 |
6744695.0 |
217.1 |
0.0 |
-90 |
90.0 |
M6263-21-PP-018 |
Central - 1 |
M6263 |
629946.0 |
6744709.8 |
217.1 |
0.0 |
-90 |
87.0 |
M6263-21-PP-019 |
Central - 1 |
M6263 |
630004.9 |
6744716.4 |
217.7 |
0.0 |
-90 |
87.0 |
M6263-21-PP-020 |
Central - 1 |
M6263 |
630092.7 |
6744562.3 |
225.6 |
0.0 |
-90 |
84.0 |
M6263-21-PP-021 |
Central - 1 |
M6263 |
630112.3 |
6744539.5 |
222.3 |
0.0 |
-90 |
90.0 |
M6263-21-PP-022 |
Central - 1 |
M6263 |
630136.8 |
6744555.5 |
222.6 |
0.0 |
-90 |
81.0 |
N32-21-PP-001 |
East Mill |
N32 |
643071.8 |
6751220.0 |
216.0 |
0.0 |
-90 |
33.0 |
N32-21-PP-002 |
East Mill |
N32 |
643097.1 |
6751253.3 |
214.8 |
0.0 |
-90 |
33.0 |
N32-21-PP-003 |
East Mill |
N32 |
643100.4 |
6751221.7 |
216.2 |
0.0 |
-90 |
39.0 |
N32-21-PP-004 |
East Mill |
N32 |
643128.6 |
6751212.5 |
217.0 |
0.0 |
-90 |
36.0 |
N32-21-PP-005 |
East Mill |
N32 |
643115.5 |
6751185.0 |
216.2 |
0.0 |
-90 |
39.0 |
N32-21-PP-006 |
East Mill |
N32 |
643180.2 |
6751132.1 |
213.3 |
0.0 |
-90 |
36.0 |
N39-21-PP-009 |
East Mill |
N39 |
640255.2 |
6749934.4 |
219.7 |
0.0 |
-90 |
48.0 |
N39-21-PP-011 |
East Mill |
N39 |
640278.2 |
6749912.0 |
219.7 |
0.0 |
-90 |
45.0 |
N39-21-PP-012 |
East Mill |
N39 |
640292.4 |
6749880.7 |
219.5 |
0.0 |
-90 |
48.0 |
N39-21-PP-014 |
East Mill |
N39 |
640320.9 |
6749945.7 |
219.6 |
0.0 |
-90 |
45.0 |
N39-21-PP-015 |
East Mill |
N39 |
640346.1 |
6749955.6 |
219.8 |
0.0 |
-90 |
48.0 |
N39-21-PP-018 |
East Mill |
N39 |
640685.6 |
6750082.6 |
219.2 |
0.0 |
-90 |
42.0 |
N39-21-PP-022 |
East Mill |
N39 |
640646.7 |
6750106.7 |
220.6 |
0.0 |
-90 |
48.0 |
N39-21-PP-029 |
East Mill |
N39 |
640324.8 |
6749821.2 |
219.6 |
0.0 |
-90 |
42.0 |
N39-21-PP-030 |
East Mill |
N39 |
640334.6 |
6749780.9 |
219.7 |
0.0 |
-90 |
45.0 |
N39-21-PP-031 |
East Mill |
N39 |
640269.0 |
6749769.0 |
220.1 |
0.0 |
-90 |
45.0 |
N39-21-PP-032 |
East Mill |
N39 |
640446.6 |
6749735.6 |
219.8 |
0.0 |
-90 |
40.5 |
N39-21-PP-033 |
East Mill |
N39 |
640424.2 |
6749769.8 |
219.9 |
0.0 |
-90 |
42.0 |
N39-21-PP-034 |
East Mill |
N39 |
640446.9 |
6749766.8 |
219.8 |
0.0 |
-90 |
42.0 |
N39-21-PP-035 |
East Mill |
N39 |
640451.5 |
6749799.8 |
219.9 |
0.0 |
-90 |
42.0 |
N39-21-PP-036 |
East Mill |
N39 |
640479.2 |
6749797.6 |
219.9 |
0.0 |
-90 |
42.0 |
N39-21-PP-037 |
East Mill |
N39 |
640468.4 |
6749890.8 |
219.4 |
0.0 |
-90 |
45.0 |
N39-21-PP-038 |
East Mill |
N39 |
640553.9 |
6750092.0 |
219.4 |
0.0 |
-90 |
42.0 |
N39-21-PP-039 |
East Mill |
N39 |
640536.0 |
6750064.0 |
219.3 |
0.0 |
-90 |
45.0 |
N39-21-PP-040 |
East Mill |
N39 |
640498.5 |
6750057.0 |
219.4 |
0.0 |
-90 |
45.0 |
N39-21-PP-041 |
East Mill |
N39 |
640493.6 |
6750083.0 |
219.4 |
0.0 |
-90 |
45.0 |
N39-21-PP-042 |
East Mill |
N39 |
640472.0 |
6750051.6 |
219.4 |
0.0 |
-90 |
45.0 |
N39-21-PP-043 |
East Mill |
N39 |
640843.5 |
6750146.3 |
213.7 |
0.0 |
-90 |
34.5 |
N39-21-PP-044 |
East Mill |
N39 |
640701.0 |
6750117.3 |
219.3 |
0.0 |
-90 |
42.0 |
N39-21-PP-045 |
East Mill |
N39 |
640680.8 |
6750124.0 |
219.4 |
0.0 |
-90 |
42.0 |
(*hydrogeological hole)
About Osisko Metals
Osisko Metals Incorporated is a Canadian
exploration and development company creating value in the base
metal space. The Company controls one of Canada’s premier
past-producing zinc mining camps, the Pine Point Project, located
in the Northwest Territories for which the 2020 PEA has indicated
an after-tax NPV of $500M and an IRR of 29.6%. The Pine Point
Project PEA is based on current Mineral Resource Estimates that are
amenable to open pit and shallow underground mining and consist of
12.9Mt grading 6.29% ZnEq of Indicated Mineral Resources and 37.6Mt
grading 6.80% ZnEq of Inferred Mineral Resources. Please refer to
the technical report entitled “Preliminary Economic Assessment,
Pine Point Project, Hay River, Northwest Territories, Canada” dated
July 30, which has been filed on SEDAR. The Pine Point Project is
located on the south shore of Great Slave Lake in the Northwest
Territories, near infrastructure, paved highway access, and has an
electrical substation as well as 100 kilometres of viable haulage
roads already in place.
The current Mineral Resources mentioned in this
press release conform to NI43-101 standards and were prepared by
independent qualified persons, as defined by NI43-101 guidelines.
The abovementioned Mineral Resources are not Mineral Reserves as
they do not have demonstrated economic viability. The quantity and
grade of the reported Inferred Mineral Resources are conceptual in
nature and are estimated based on limited geological evidence and
sampling. Geological evidence is sufficient to imply but not verify
geological grade and/or quality of continuity. Zinc equivalency
percentages are calculated using metal prices, forecasted metal
recoveries, concentrate grades, transport costs, smelter payable
metals and charges (see respective technical reports for
details).
For further information on this press
release, visit www.osiskometals.com
or contact:
Robert Wares, CEO Osisko Metals Incorporated
Email: info@osiskometals.com www.osiskometals.com
Cautionary Statement on Forward-Looking
Information
This news release contains "forward-looking
information" within the meaning of applicable Canadian securities
legislation based on expectations, estimates and projections as at
the date of this news release. Any statement that involves
predictions, expectations, interpretations, beliefs, plans,
projections, objectives, assumptions, future events or performance
are not statements of historical fact and constitute
forward-looking information. This news release may contain
forward-looking information pertaining to the Pine Point Project,
including, among other things, the results of the PEA and the IRR,
NPV and estimated costs, production, production rate and mine life;
the expectation that the Pine Point Project will be an robust
operation and profitable at a variety of prices and assumptions;
the expected high quality of the Pine Point concentrates; the
potential impact of the Pine Point Project in the Northwest
Territories, including but not limited to the potential generation
of tax revenue and contribution of jobs; and the Pine Point Project
having the potential for mineral resource expansion and new
discoveries. Forward-looking information is not a guarantee of
future performance and is based upon a number of estimates and
assumptions of management, in light of management’s experience and
perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant
and reasonable in the circumstances, including, without limitation,
assumptions about: favourable equity and debt capital markets; the
ability to raise additional capital on reasonable terms to advance
the development of its projects and pursue planned exploration;
future prices of zinc and lead; the timing and results of
exploration and drilling programs; the accuracy of mineral resource
estimates; production costs; operating conditions being favourable;
political and regulatory stability; the receipt of governmental and
third party approvals; licenses and permits being received on
favourable terms; sustained labour stability; stability in
financial and capital markets; availability of equipment; and
positive relations with local groups. Forward-looking information
involves risks, uncertainties and other factors that could cause
actual events, results, performance, prospects and opportunities to
differ materially from those expressed or implied by such
forward-looking information. Factors that could cause actual
results to differ materially from such forward-looking information
are set out in the Company’s public documents filed at
www.sedar.com. Although the Company believes that the assumptions
and factors used in preparing the forward-looking information in
this news release are reasonable, undue reliance should not be
placed on such information, which only applies as of the date of
this news release, and no assurance can be given that such events
will occur in the disclosed time frames or at all. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSXV)
accepts responsibility for the adequacy or accuracy of this news
release.
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