- Osisko Metals (OM) announces drill results with up to 21 metres grading 11.65 per cent zinc and 1.57 per cent lead
- Its drill program is designed to achieve an average drill spacing of approximately 30 metres within current mineral resources
- This spacing is intended to upgrade resources presently classified as Inferred to the Indicated category
- All intercepts reported modelled and proposed open pit shells designed for the PEA. Further assay results are pending
- Osisko Metals Incorporated (OM) is up 8.89 per cent, trading at C$0.24 at 11:17 am EST
Osisko Metals Incorporated (OM) announced additional results from the 2022 definition drilling program at its Pine Point Project.
The company controls one of Canada’s premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories.
This continuous drill program is designed to achieve an average drill spacing of approximately 30 metres within current mineral resources.
This spacing is intended to upgrade resources presently classified as Inferred to the Indicated category in order to be used in the feasibility to be initiated in H2 2023.
Jeff Hussey, President & COO, said, “On a zinc-only basis, Pine Point could potentially become a top ten global low-cost zinc-lead producer ranking fourth largest in the Americas, producing an exceptionally clean and high-grade zinc concentrate that would be sought after by any number of smelters and traders globally.”
The PEA update was prepared in August in collaboration with independent engineering firm BBA Inc.
All intercepts reported modelled and proposed open pit shells designed for the PEA. Further assay results are pending.
In the North Zone, shallow zinc and lead sulphides were intersected between 16 and 82.7 metres vertical depth.
Drilling at the X25 deposit in the West Zone intersected mineralization between 90 and 143.5 metres vertical depth.
All reported results are from Tabular-style deposits characterized by continuous, flat-lying mineralization. More vertically continuous Prismatic-style mineralization was locally encountered within the Tabular-style mineralization.
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space.
The company is also in the process of acquiring, from Glencore Canada, a 100 per cent interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Québec.
Osisko Metals Incorporated (OM) is up 8.89 per cent, trading at C$0.24 at 11:17 am EST.