Osisko Metals Incorporated (TSX-V:OM) (FRANKFURT:0B51) is pleased to announce assay results from an additional 35 shallow drill holes completed along the Central Zone trend in the L65 deposit and along the East Mill Zone trend in the L 35 and L36 deposits. Drill hole L65-18-PP-004 intersected 4.29% Zn & 0.56% Pb over 11.10 metres. Also worthy of mention is hole L65-18-PP-007 that intersected 11.20% Zn & 3.42% Pb over 5.35 metres. All intersections are within near surface flat lying tabular-style deposits and all intercepts in the Central Zone are located above 102 metre depths. The intersections in the East Mill Zone trend are above 57 metre depths. (See 2018 Winter Drill Campaign East Mill Zone Map B6).
The Central Zone that trends over 7.5 kilometres hosts the L65 deposit and the mineralized trend currently measures 3.0 kilometres in length. Its eastern end is located 11 kilometres to the west of the electrical sub-station along the main haulage road. This zone hosts six deposits with historical resources reported by Cominco Limited including L65 (1.9Mt at and 4.2% Zn & 2.1% Pb) (See 2018 Winter Drill Campaign Central Zone Map B6).
Geological evidence suggests that the Zinc and Lead mineralization may connect these deposits with a keel of higher grade mineralization. Near-surface mineralization was intersected at L65 above 103 metres vertical depth, with multiple mineralized intercepts reported in 6 drill holes.
The East Mill Zone (see news releases May 1, May 15, and May 29th, 2018) is a 7.6-kilometre trend that extends towards the east from the electrical substation area. Near-surface mineralization was intersected above 46 metres vertical depth, with multiple mineralized intercepts reported in 4 drill holes. See Osisko Metals website for additional geological background on both the Central Zone and The East Mill Zone.
Additional highlights are listed below in Table 1 and details are provided in Tables 2 & 3.
Table 1: Highlights:
|Hole Name||From||To||Width||Lead||Zinc||Lead + Zinc|
Note: Grades may not add up exactly due to rounding to two decimal places.
The objective of the 2018 drill program is to upgrade approximately 50 million tonnes of unclassified near-surface historical resources to NI43-101 Indicated Resources as quickly as possible in areas amenable to open-pit mining. The program consists of approximately 700 drill holes (129 now completed) within the central, 20-kilometre long, portion of the Pine Point Mining Camp (“PPMC”) that is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway access.
Note regarding historical resource and Qualified Person
The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that such work will allow conversion of such historical resources.
Stanley G. Clemmer, P. Geo is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in the Northwest Territories and is Chief Geologist for Pine Point Mining Limited, a wholly owned subsidiary of Osisko Metals Limited.
Quality Assurance / Quality Control
Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from the Pine Point project area were securely transported to its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were shipped via secure transportation to the ALS Canada Ltd’s preparation facility in Yellowknife. Pulps were analyzed at the ALS Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for ultra-trace level detection 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 ICP-AES analysis with an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration.
Table 2: Composite Assay Results
|Hole Name||Area||Historical Deposit||From||To||Width||True Width||Lead||Zinc||Lead + Zinc|
|L65-18-PP-003||Central||L65||No significant results|
|L65-18-PP-005||Central||L65||No significant results|
|L65-18-PP-008||Central||L65||No significant results|
|EM-18-PP-056||East Mill||L35||No significant results|
|EM-18-PP-057||East Mill||L35||No significant results|
|EM-18-PP-063||East Mill||L35||No significant results|
|EM-18-PP-070||East Mill||L35||No significant results|
Table 3: Drill hole collar locations (UTM NAD83 zone 11)
|Hole Name||Deposit||Area||Easting||Northing||Elevation||Azimuth||Dip||Depth (m)|
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps in Canada, namely the Pine Point Camp located in the Northwest Territories (22,000 ha) and the Bathurst Mining Camp, located in northern New Brunswick (42,000 ha). The Company is currently drilling in both camps for a combined 100,000 metres. The focus of these programs is to upgrade historical resources to comply with NI43-101 regulations and also on exploration around historical deposits. Brownfield exploration includes new innovative 3D compilation techniques, updated geological interpretation, and modern geophysics. In parallel, Osisko Metals is monitoring several base metal-oriented peers for opportunities.
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