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Osisko Metals Announces Drill Results With up to 21.00 Metres Grading 11.65% Zinc and 1.57% Lead
Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) is pleased to announce additional results from the 2022 definition drilling program at its Pine Point Project, located in the Northwest Territories, Canada. As the Company drives towards a feasibility study, 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.
Drill Hole Assay Composite Highlights:
- X25-22-PP-020: 9.00 metres, grading 10.51% Zn and 3.52% Pb (14.03% Zn+Pb)
- X61-22-PP-002: 11.50 metres, grading 9.37% Zn and 4.99% Pb (14.36% Zn+Pb)
- X64-22-PP-002: 21.00 metres, grading 11.65% Zn and 1.57% Pb (13.22% Zn+Pb)
- X68-22-PP-034: 6.00 metres, grading 12.73% Zn and 2.50% Pb (15.23% Zn+Pb)
Jeff Hussey, President & COO, commented: “We continue to be encouraged by the positive definition drilling results from Pine Point. A revised and updated mineral resource will be calculated and used for the feasibility study that we plan to initiate in 2023. 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.”
In August of this year, the Company filed the 2022 Preliminary Economic Assessment that included higher commodity prices and reduced dewatering volume estimates and associated costs. The PEA Update was prepared in collaboration with independent engineering firms BBA Inc., WSP Canada Inc., & Hydro-Resources Inc. Please see the press release of July 13, 2022 for more details.
All intercepts reported below were within, or immediately adjacent to, the currently modelled and proposed open pit shells designed for the PEA. Further assay results are pending.
The results reported in Tables 1 & 2 below are within expectations for the infill program needed to convert the North Zone and West Zone deposits (X25, X61, X64, X68, Y53, Y62, and Z60) to the Indicated Mineral Resource category (See Map). 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.
Table 1: Drill Hole Composites.
| Hole Name | Zone | Deposit | From | To | Drill Width | True Width | Zn | Pb | Zn+Pb |
| (m) | (m) | (m) | (m) | % | % | % | |||
| HG-22-PP-001** | Hydro-Geo | 65.00 | 66.00 | 1.00 | 1.00 | 6.25 | 0.73 | 6.98 | |
| HG-22-PP-002** | Hydro-Geo | 33.00 | 34.00 | 1.00 | 1.00 | 0.36 | 0.02 | 0.38 | |
| HG-22-PP-003** | Hydro-Geo | 20.00 | 21.00 | 1.00 | 1.00 | 0.32 | 0.15 | 0.47 | |
| X25-22-PP-001 | West | X25 | 140.00 | 141.00 | 1.00 | 1.00 | 2.50 | 0.04 | 2.54 |
| X25-22-PP-004 | West | X25 | 99.00 | 100.00 | 1.00 | 1.00 | 0.01 | 0.00 | 0.01 |
| X25-22-PP-005 | West | X25 | 143.50 | 144.50 | 1.00 | 1.00 | 5.43 | 0.24 | 5.67 |
| X25-22-PP-006 | West | X25 | 138.00 | 141.00 | 3.00 | 3.00 | 24.32 | 3.99 | 28.31 |
| X25-22-PP-007 | West | X25 | 117.00 | 118.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.01 |
| X25-22-PP-008 | West | X25 | 123.00 | 124.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| X25-22-PP-011 | West | X25 | 124.00 | 125.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| X25-22-PP-012* | West | X25 | 128.00 | 129.00 | 1.00 | 1.00 | 0.01 | 0.00 | 0.01 |
| X25-22-PP-013 | West | X25 | 109.00 | 110.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| X25-22-PP-016 | West | X25 | 134.00 | 141.00 | 7.00 | 7.00 | 21.08 | 2.59 | 23.67 |
| X25-22-PP-020 | West | X25 | 90.00 | 91.00 | 1.00 | 1.00 | 7.49 | 1.94 | 9.43 |
| X25-22-PP-020 | West | X25 | 108.00 | 117.00 | 9.00 | 9.00 | 10.51 | 3.52 | 14.03 |
| X25-22-PP-020 | West | X25 | 126.00 | 128.00 | 2.00 | 2.00 | 7.88 | 4.61 | 12.49 |
| X25-22-PP-021* | West | X25 | 82.70 | 84.00 | 1.30 | 1.30 | 0.02 | 0.01 | 0.03 |
| X61-22-PP-001 | N1 | X61 | 30.00 | 34.10 | 4.10 | 4.10 | 23.44 | 5.58 | 29.02 |
| X61-22-PP-001 | N1 | X61 | 42.00 | 48.00 | 6.00 | 6.00 | 11.62 | 4.49 | 16.11 |
| X61-22-PP-002 | N1 | X61 | 23.50 | 35.00 | 11.50 | 11.50 | 9.37 | 4.99 | 14.36 |
| X61-22-PP-002 | N1 | X61 | 46.00 | 56.00 | 10.00 | 10.00 | 12.16 | 2.48 | 14.64 |
| X61-22-PP-003 | N1 | X61 | 42.30 | 43.00 | 0.70 | 0.70 | 16.15 | 2.20 | 18.35 |
| X61-22-PP-004 | N1 | X61 | 42.00 | 43.00 | 1.00 | 1.00 | 3.40 | 0.29 | 3.69 |
| X61-22-PP-005* | N1 | X61 | 37.00 | 38.00 | 1.00 | 1.00 | 2.08 | 0.08 | 2.16 |
| X61-22-PP-006 | N1 | X61 | 49.00 | 50.10 | 1.10 | 1.10 | 13.95 | 3.74 | 17.69 |
| X61-22-PP-007 | N1 | X61 | 47.00 | 48.00 | 1.00 | 1.00 | 5.45 | 0.84 | 6.29 |
| X64-22-PP-001 | N1 | X64 | 33.00 | 34.00 | 1.00 | 1.00 | 0.22 | 0.00 | 0.22 |
| X64-22-PP-002 | N1 | X64 | 32.00 | 53.00 | 21.00 | 21.00 | 11.65 | 1.57 | 13.22 |
| X64-22-PP-003 | N1 | X64 | 36.00 | 47.00 | 11.00 | 11.00 | 10.82 | 1.30 | 12.12 |
| X64-22-PP-004 | N1 | X64 | 39.00 | 40.00 | 1.00 | 1.00 | 0.26 | 0.00 | 0.26 |
| X64-22-PP-005 | N1 | X64 | 35.00 | 36.00 | 1.00 | 1.00 | 7.68 | 1.84 | 9.52 |
| X64-22-PP-006 | N1 | X64 | 37.00 | 40.00 | 3.00 | 3.00 | 3.48 | 2.61 | 6.09 |
| X64-22-PP-007 | N1 | X64 | 38.15 | 39.00 | 0.85 | 0.85 | 18.00 | 14.60 | 32.60 |
| X64-22-PP-008 | N1 | X64 | 38.00 | 39.00 | 1.00 | 1.00 | 3.43 | 0.52 | 3.95 |
| X64-22-PP-009* | N1 | X64 | 39.00 | 44.15 | 5.15 | 5.15 | 5.43 | 1.68 | 7.11 |
| X64-22-PP-010 | N1 | X64 | 41.00 | 42.00 | 1.00 | 1.00 | 2.36 | 0.77 | 3.13 |
| X64-22-PP-011 | N1 | X64 | 42.00 | 43.00 | 1.00 | 1.00 | 10.15 | 3.95 | 14.10 |
| X64-22-PP-012 | N1 | X64 | 38.50 | 40.00 | 1.50 | 1.50 | 25.97 | 10.39 | 36.35 |
| X64-22-PP-013 | N1 | X64 | 16.00 | 17.00 | 1.00 | 1.00 | 11.90 | 0.46 | 12.36 |
| X64-22-PP-013 | N1 | X64 | 53.00 | 55.00 | 2.00 | 2.00 | 5.23 | 0.08 | 5.31 |
| X64-22-PP-014 | N1 | X64 | 34.75 | 35.75 | 1.00 | 1.00 | 25.90 | 9.96 | 35.86 |
| X64-22-PP-014 | N1 | X64 | 47.00 | 51.00 | 4.00 | 4.00 | 5.29 | 0.99 | 6.28 |
| X68-22-PP-001 | N1 | X68 | 39.00 | 40.00 | 1.00 | 1.00 | 3.77 | 0.70 | 4.47 |
| X68-22-PP-002 | N1 | X68 | 34.00 | 42.00 | 8.00 | 8.00 | 5.34 | 0.81 | 6.15 |
| X68-22-PP-003 | N1 | X68 | 36.00 | 37.00 | 1.00 | 1.00 | 6.08 | 0.24 | 6.32 |
| X68-22-PP-004 | N1 | X68 | 37.00 | 42.00 | 5.00 | 5.00 | 6.40 | 0.59 | 6.99 |
| X68-22-PP-005 | N1 | X68 | 34.00 | 35.00 | 1.00 | 1.00 | 1.21 | 0.08 | 1.29 |
| X68-22-PP-006 | N1 | X68 | 39.00 | 43.00 | 4.00 | 4.00 | 6.22 | 0.22 | 6.43 |
| X68-22-PP-007 | N1 | X68 | 41.00 | 42.00 | 1.00 | 1.00 | 0.94 | 0.11 | 1.05 |
| X68-22-PP-008 | N1 | X68 | 33.00 | 34.00 | 1.00 | 1.00 | 12.90 | 4.45 | 17.35 |
| X68-22-PP-009 | N1 | X68 | 31.00 | 32.00 | 1.00 | 1.00 | 0.03 | 0.00 | 0.03 |
| X68-22-PP-010 | N1 | X68 | 28.00 | 29.00 | 1.00 | 1.00 | 0.08 | 0.00 | 0.08 |
| X68-22-PP-011 | N1 | X68 | 33.00 | 34.00 | 1.00 | 1.00 | 15.90 | 2.40 | 18.30 |
| X68-22-PP-012 | N1 | X68 | 30.00 | 31.00 | 1.00 | 1.00 | 0.98 | 0.05 | 1.03 |
| X68-22-PP-013 | N1 | X68 | 25.00 | 26.00 | 1.00 | 1.00 | 0.05 | 0.00 | 0.05 |
| X68-22-PP-014 | N1 | X68 | 29.00 | 30.00 | 1.00 | 1.00 | 0.51 | 0.07 | 0.58 |
| X68-22-PP-015 | N1 | X68 | 29.00 | 31.00 | 2.00 | 2.00 | 11.62 | 1.61 | 13.23 |
| X68-22-PP-015 | N1 | X68 | 36.00 | 37.00 | 1.00 | 1.00 | 7.76 | 0.72 | 8.48 |
| X68-22-PP-016 | N1 | X68 | 26.00 | 27.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| X68-22-PP-017 | N1 | X68 | 36.00 | 37.00 | 1.00 | 1.00 | 1.85 | 0.14 | 1.98 |
| X68-22-PP-018 | N1 | X68 | 35.00 | 36.00 | 1.00 | 1.00 | 5.82 | 1.00 | 6.82 |
| X68-22-PP-019 | N1 | X68 | 36.00 | 36.50 | 0.50 | 0.50 | 0.26 | 0.12 | 0.38 |
| X68-22-PP-020 | N1 | X68 | 31.00 | 31.50 | 0.50 | 0.50 | 7.17 | 1.13 | 8.30 |
| X68-22-PP-021 | N1 | X68 | 32.00 | 33.00 | 1.00 | 1.00 | 2.97 | 1.55 | 4.52 |
| X68-22-PP-022 | N1 | X68 | 33.00 | 34.00 | 1.00 | 1.00 | 0.23 | 0.06 | 0.28 |
| X68-22-PP-023 | N1 | X68 | 37.00 | 38.00 | 1.00 | 1.00 | 1.56 | 0.03 | 1.59 |
| X68-22-PP-024 | N1 | X68 | 33.50 | 37.00 | 3.50 | 3.50 | 13.50 | 2.76 | 16.25 |
| X68-22-PP-025 | N1 | X68 | 40.00 | 41.00 | 1.00 | 1.00 | 0.37 | 0.01 | 0.38 |
| X68-22-PP-026 | N1 | X68 | 30.00 | 31.00 | 1.00 | 1.00 | 2.77 | 0.56 | 3.33 |
| X68-22-PP-027 | N1 | X68 | 33.00 | 38.00 | 5.00 | 5.00 | 7.29 | 2.05 | 9.33 |
| X68-22-PP-028 | N1 | X68 | 33.00 | 36.00 | 3.00 | 3.00 | 8.93 | 0.78 | 9.71 |
| X68-22-PP-029 | N1 | X68 | 26.00 | 27.00 | 1.00 | 1.00 | 0.01 | 0.02 | 0.03 |
| X68-22-PP-030 | N1 | X68 | 32.00 | 39.00 | 7.00 | 7.00 | 5.94 | 0.89 | 6.83 |
| X68-22-PP-031 | N1 | X68 | 44.00 | 45.00 | 1.00 | 1.00 | 0.33 | 0.02 | 0.35 |
| X68-22-PP-032 | N1 | X68 | 28.00 | 29.00 | 1.00 | 1.00 | 0.04 | 0.00 | 0.04 |
| X68-22-PP-033 | N1 | X68 | 32.00 | 34.00 | 2.00 | 2.00 | 11.42 | 5.46 | 16.88 |
| X68-22-PP-034 | N1 | X68 | 37.00 | 43.00 | 6.00 | 6.00 | 12.73 | 2.50 | 15.23 |
| X68-22-PP-035* | N1 | X68 | 30.00 | 31.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Y53-22-PP-001 | N1 | Y53 | 26.00 | 28.00 | 2.00 | 2.00 | 12.97 | 2.26 | 15.22 |
| Y53-22-PP-002 | N1 | Y53 | 27.00 | 29.75 | 2.75 | 2.75 | 12.00 | 2.44 | 14.44 |
| Y53-22-PP-003* | N1 | Y53 | 28.00 | 29.00 | 1.00 | 1.00 | 2.28 | 0.38 | 2.66 |
| Y53-22-PP-004 | N1 | Y53 | 22.10 | 23.00 | 0.90 | 0.90 | 0.30 | 0.10 | 0.40 |
| Y53-22-PP-005 | N1 | Y53 | 28.00 | 30.00 | 2.00 | 2.00 | 3.72 | 0.85 | 4.56 |
| Y53-22-PP-006 | N1 | Y53 | 32.00 | 33.50 | 1.50 | 1.50 | 14.08 | 4.43 | 18.51 |
| Y53-22-PP-007 | N1 | Y53 | 31.15 | 34.55 | 3.40 | 3.40 | 42.36 | 6.79 | 49.15 |
| Y53-22-PP-008 | N1 | Y53 | 31.75 | 36.00 | 4.25 | 4.25 | 24.21 | 3.87 | 28.08 |
| Y53-22-PP-009 | N1 | Y53 | 34.00 | 34.65 | 0.65 | 0.65 | 13.15 | 2.65 | 15.80 |
| Y53-22-PP-010 | N1 | Y53 | 29.60 | 30.00 | 0.40 | 0.40 | 20.30 | 1.40 | 21.70 |
| Y53-22-PP-011 | N1 | Y53 | 29.00 | 30.00 | 1.00 | 1.00 | 0.22 | 0.02 | 0.25 |
| Y53-22-PP-012 | N1 | Y53 | 21.00 | 22.00 | 1.00 | 1.00 | 0.02 | 0.00 | 0.02 |
| Y53-22-PP-013 | N1 | Y53 | 21.00 | 21.50 | 0.50 | 0.50 | 0.07 | 0.03 | 0.10 |
| Y53-22-PP-014* | N1 | Y53 | 21.00 | 22.00 | 1.00 | 1.00 | 0.14 | 0.02 | 0.16 |
| Y53-22-PP-015 | N1 | Y53 | 20.00 | 21.00 | 1.00 | 1.00 | 0.21 | 0.01 | 0.22 |
| Y62-22-PP-001 | N1 | Y62 | 48.00 | 49.00 | 1.00 | 1.00 | 6.20 | 1.59 | 7.79 |
| Y62-22-PP-002 | N1 | Y62 | 32.00 | 34.00 | 2.00 | 2.00 | 8.91 | 1.40 | 10.30 |
| Y62-22-PP-003* | N1 | Y62 | 48.00 | 49.00 | 1.00 | 1.00 | 4.93 | 0.31 | 5.24 |
| Y62-22-PP-004 | N1 | Y62 | 45.00 | 46.00 | 1.00 | 1.00 | 5.21 | 1.57 | 6.78 |
| Y62-22-PP-005 | N1 | Y62 | 34.90 | 37.00 | 2.10 | 2.10 | 3.72 | 0.28 | 4.00 |
| Y62-22-PP-006 | N1 | Y62 | 44.00 | 49.00 | 5.00 | 5.00 | 8.51 | 1.03 | 9.54 |
| Y62-22-PP-007 | N1 | Y62 | 34.00 | 38.10 | 4.10 | 4.10 | 7.29 | 1.21 | 8.51 |
| Y62-22-PP-007 | N1 | Y62 | 41.90 | 43.00 | 1.10 | 1.10 | 8.03 | 2.37 | 10.40 |
| Y62-22-PP-008 | N1 | Y62 | 37.00 | 44.00 | 7.00 | 7.00 | 11.66 | 3.58 | 15.25 |
| Y62-22-PP-009 | N1 | Y62 | 40.00 | 49.00 | 9.00 | 9.00 | 6.33 | 0.65 | 6.98 |
| Y62-22-PP-010 | N1 | Y62 | 38.00 | 44.00 | 6.00 | 6.00 | 7.89 | 0.86 | 8.74 |
| Y62-22-PP-011 | N1 | Y62 | 42.00 | 43.00 | 1.00 | 1.00 | 10.80 | 1.45 | 12.25 |
| Y62-22-PP-012 | N1 | Y62 | 40.00 | 41.00 | 1.00 | 1.00 | 2.93 | 1.58 | 4.51 |
| Y62-22-PP-013 | N1 | Y62 | 43.00 | 44.00 | 1.00 | 1.00 | 2.16 | 0.13 | 2.29 |
| Y62-22-PP-014 | N1 | Y62 | 36.00 | 37.00 | 1.00 | 1.00 | 1.78 | 0.13 | 1.91 |
| Y62-22-PP-015 | N1 | Y62 | 34.00 | 35.00 | 1.00 | 1.00 | 2.60 | 4.64 | 7.24 |
| Y62-22-PP-016 | N1 | Y62 | 41.00 | 46.00 | 5.00 | 5.00 | 9.55 | 10.09 | 19.64 |
| Y62-22-PP-017 | N1 | Y62 | 51.00 | 54.00 | 3.00 | 3.00 | 7.38 | 3.49 | 10.86 |
| Y62-22-PP-018 | N1 | Y62 | 46.00 | 48.00 | 2.00 | 2.00 | 6.55 | 2.55 | 9.10 |
| Y62-22-PP-019 | N1 | Y62 | 49.00 | 51.00 | 2.00 | 2.00 | 5.05 | 0.01 | 5.06 |
| Y62-22-PP-020 | N1 | Y62 | 37.00 | 39.00 | 2.00 | 2.00 | 6.32 | 2.20 | 8.52 |
| Y62-22-PP-020 | N1 | Y62 | 59.00 | 60.00 | 1.00 | 1.00 | 7.00 | 1.08 | 8.08 |
| Y62-22-PP-021 | N1 | Y62 | 60.00 | 61.00 | 1.00 | 1.00 | 2.92 | 0.50 | 3.42 |
| Y62-22-PP-022 | N1 | Y62 | 54.00 | 57.00 | 3.00 | 3.00 | 5.92 | 0.64 | 6.56 |
| Y62-22-PP-023 | N1 | Y62 | 37.00 | 38.00 | 1.00 | 1.00 | 1.64 | 1.09 | 2.73 |
| Y62-22-PP-024 | N1 | Y62 | 37.80 | 39.00 | 1.20 | 1.20 | 1.64 | 0.28 | 1.92 |
| Y62-22-PP-025 | N1 | Y62 | 44.00 | 46.00 | 2.00 | 2.00 | 9.26 | 2.32 | 11.57 |
| Y62-22-PP-026 | N1 | Y62 | 39.00 | 40.00 | 1.00 | 1.00 | 0.02 | 0.01 | 0.03 |
| Y62-22-PP-027 | N1 | Y62 | 44.00 | 46.00 | 2.00 | 2.00 | 7.65 | 5.89 | 13.54 |
| Y62-22-PP-028* | N1 | Y62 | 34.00 | 35.20 | 1.20 | 1.20 | 4.27 | 0.08 | 4.35 |
| Y62-22-PP-029 | N1 | Y62 | 39.00 | 40.00 | 1.00 | 1.00 | 1.91 | 0.02 | 1.92 |
| Y62-22-PP-030 | N1 | Y62 | 32.00 | 42.00 | 10.00 | 10.00 | 8.88 | 0.42 | 9.30 |
| Y62-22-PP-031 | N1 | Y62 | 44.00 | 45.00 | 1.00 | 1.00 | 3.38 | 0.44 | 3.82 |
| Y62-22-PP-032 | N1 | Y62 | 40.10 | 41.00 | 0.90 | 0.90 | 25.40 | 0.05 | 25.45 |
| Y62-22-PP-032 | N1 | Y62 | 48.00 | 49.10 | 1.10 | 1.10 | 5.74 | 3.26 | 9.00 |
| Y62-22-PP-033 | N1 | Y62 | 38.00 | 41.00 | 3.00 | 3.00 | 9.63 | 10.79 | 20.41 |
| Z60-22-PP-001 | N1 | Z60 | 18.00 | 19.00 | 1.00 | 1.00 | 0.25 | 0.00 | 0.25 |
| Z60-22-PP-002 | N1 | Z60 | 21.00 | 22.00 | 1.00 | 1.00 | 0.06 | 0.01 | 0.07 |
| Z60-22-PP-003 | N1 | Z60 | 27.00 | 28.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Z60-22-PP-004* | N1 | Z60 | 29.00 | 30.00 | 1.00 | 1.00 | 0.01 | 0.00 | 0.01 |
| Z60-22-PP-005 | N1 | Z60 | 23.00 | 24.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.01 |
| Z60-22-PP-006 | N1 | Z60 | 19.90 | 21.00 | 1.10 | 1.10 | 0.03 | 0.00 | 0.03 |
| Z60-22-PP-007 | N1 | Z60 | 21.00 | 22.00 | 1.00 | 1.00 | 0.01 | 0.00 | 0.01 |
| Z60-22-PP-008 | N1 | Z60 | 20.00 | 20.65 | 0.65 | 0.65 | 1.33 | 0.16 | 1.49 |
| Z60-22-PP-009 | N1 | Z60 | 18.00 | 19.00 | 1.00 | 1.00 | 0.00 | 0.00 | 0.00 |
| Z60-22-PP-010 | N1 | Z60 | 17.00 | 18.00 | 1.00 | 1.00 | 0.02 | 0.01 | 0.03 |
| Z60-22-PP-011 | N1 | Z60 | 19.00 | 20.00 | 1.00 | 1.00 | 0.70 | 0.17 | 0.87 |
| Z60-22-PP-012 | N1 | Z60 | 18.00 | 19.00 | 1.00 | 1.00 | 0.96 | 0.01 | 0.97 |
| Z60-22-PP-013 | N1 | Z60 | 25.00 | 25.80 | 0.80 | 0.80 | 1.17 | 0.38 | 1.55 |
| Z60-22-PP-014 | N1 | Z60 | 23.00 | 24.00 | 1.00 | 1.00 | 1.55 | 0.30 | 1.85 |
* Within-deposit hydrogeological drill hole
** Off-deposit hydrogeological drill hole
Special note: X64 (in italics) is included under the X65 deposit in the 2022 PEA
Hydrogeological Program Update
Ongoing hydrogeological modelling of the past two years has consisted of: 1) Profile Tracer Tests which measure groundwater flow and conductivity of the bedrock stratigraphy within the drill hole, 2) Injection Tests to model the aquifer characteristics, and 3) Physio-chemical measurements of the water within the drill holes to characterize the groundwater in and around the deposits. The model is continuously evolving while incorporating new data from field tests. The updated hydrogeological model will be used to continuously improve forecasts for dewatering volume estimates that will be used in the Pine Point feasibility study planned for H2 of 2023.
Qualified Person
Mr. Robin Adair is the Qualified Person and the Vice President of 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 are 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 ICP-AES analysis with an upper detection limit of 30% and 20%, respectively. Samples with Zn >30% and or Pb >20% are analyzed by traditional titration.
Table 2: Drill Hole Collar Locations (NAD83 (CSRS) Zone 11)
| Hole Name | Zone | Deposit | Easting | Northing | Elev. (m) | Azm. | Dip | Length (m) |
| HG-22-PP-001** | Hydro-Geo | 626833.5 | 6749138.3 | 179.4 | 155 | -75 | 81.0 | |
| HG-22-PP-002** | Hydro-Geo | 630485.0 | 6751338.5 | 180.4 | 0 | -90 | 66.0 | |
| HG-22-PP-003** | Hydro-Geo | 628935.3 | 6750030.9 | 181.4 | 0 | -90 | 50.0 | |
| X25-22-PP-001 | West | X25 | 606466.9 | 6735951.2 | 209.1 | 0 | -90 | 156.0 |
| X25-22-PP-004 | West | X25 | 606624.0 | 6735941.5 | 209.5 | 0 | -90 | 162.0 |
| X25-22-PP-005 | West | X25 | 606607.3 | 6735965.6 | 209.8 | 0 | -90 | 153.0 |
| X25-22-PP-006 | West | X25 | 606589.8 | 6735943.2 | 209.7 | 0 | -90 | 159.0 |
| X25-22-PP-007 | West | X25 | 606550.6 | 6735973.9 | 209.7 | 0 | -90 | 161.0 |
| X25-22-PP-008 | West | X25 | 606524.0 | 6735987.1 | 209.4 | 0 | -90 | 159.0 |
| X25-22-PP-011 | West | X25 | 606574.2 | 6735929.0 | 209.6 | 0 | -90 | 150.0 |
| X25-22-PP-012* | West | X25 | 606591.1 | 6735892.3 | 209.8 | 0 | -90 | 160.0 |
| X25-22-PP-013 | West | X25 | 606575.9 | 6735877.2 | 209.0 | 0 | -90 | 153.0 |
| X25-22-PP-016 | West | X25 | 606504.4 | 6735921.1 | 209.1 | 0 | -90 | 160.0 |
| X25-22-PP-020 | West | X25 | 606419.2 | 6735936.2 | 209.0 | 0 | -90 | 156.0 |
| X25-22-PP-021* | West | X25 | 606472.2 | 6735883.5 | 208.9 | 0 | -90 | 153.0 |
| X61-22-PP-001 | N1 | X61 | 630599.4 | 6751525.2 | 178.7 | 0 | -90 | 54.0 |
| X61-22-PP-002 | N1 | X61 | 630518.9 | 6751495.0 | 178.6 | 0 | -90 | 63.0 |
| X61-22-PP-003 | N1 | X61 | 630448.9 | 6751462.4 | 178.6 | 0 | -90 | 47.0 |
| X61-22-PP-004 | N1 | X61 | 630412.8 | 6751455.4 | 178.8 | 0 | -90 | 48.0 |
| X61-22-PP-005* | N1 | X61 | 630431.8 | 6751511.3 | 178.4 | 0 | -90 | 54.0 |
| X61-22-PP-006 | N1 | X61 | 630748.6 | 6751599.0 | 180.2 | 0 | -90 | 54.0 |
| X61-22-PP-007 | N1 | X61 | 630756.6 | 6751572.1 | 180.0 | 0 | -90 | 65.0 |
| X64-22-PP-001 | N1 | X64 | 628606.7 | 6750547.2 | 178.6 | 0 | -90 | 45.0 |
| X64-22-PP-002 | N1 | X64 | 628626.4 | 6750578.3 | 178.1 | 0 | -90 | 60.0 |
| X64-22-PP-003 | N1 | X64 | 628653.0 | 6750578.6 | 178.3 | 0 | -90 | 57.0 |
| X64-22-PP-004 | N1 | X64 | 628706.3 | 6750572.6 | 178.1 | 0 | -90 | 48.0 |
| X64-22-PP-005 | N1 | X64 | 628729.3 | 6750585.7 | 178.1 | 0 | -90 | 45.0 |
| X64-22-PP-006 | N1 | X64 | 628807.2 | 6750629.7 | 177.9 | 0 | -90 | 48.0 |
| X64-22-PP-007 | N1 | X64 | 628781.3 | 6750625.0 | 178.2 | 0 | -90 | 48.0 |
| X64-22-PP-008 | N1 | X64 | 628770.0 | 6750595.3 | 178.0 | 0 | -90 | 45.0 |
| X64-22-PP-009* | N1 | X64 | 628841.4 | 6750588.2 | 177.9 | 0 | -90 | 54.0 |
| X64-22-PP-010 | N1 | X64 | 628805.4 | 6750590.2 | 178.2 | 0 | -90 | 54.0 |
| X64-22-PP-011 | N1 | X64 | 628794.6 | 6750558.1 | 178.2 | 0 | -90 | 51.0 |
| X64-22-PP-012 | N1 | X64 | 628736.7 | 6750467.1 | 178.3 | 0 | -90 | 51.0 |
| X64-22-PP-013 | N1 | X64 | 628809.5 | 6750389.9 | 178.4 | 0 | -90 | 60.0 |
| X64-22-PP-014 | N1 | X64 | 628785.7 | 6750355.5 | 178.5 | 0 | -90 | 66.0 |
| X68-22-PP-001 | N1 | X68 | 627571.0 | 6749199.0 | 180.1 | 0 | -90 | 48.0 |
| X68-22-PP-002 | N1 | X68 | 627566.0 | 6749219.0 | 180.1 | 0 | -90 | 48.0 |
| X68-22-PP-003 | N1 | X68 | 627502.4 | 6749207.0 | 180.0 | 0 | -90 | 48.0 |
| X68-22-PP-004 | N1 | X68 | 627518.7 | 6749187.0 | 180.0 | 0 | -90 | 45.0 |
| X68-22-PP-005 | N1 | X68 | 627526.2 | 6749171.0 | 180.0 | 0 | -90 | 45.0 |
| X68-22-PP-006 | N1 | X68 | 627495.6 | 6749178.0 | 180.0 | 0 | -90 | 48.0 |
| X68-22-PP-007 | N1 | X68 | 627505.4 | 6749153.0 | 179.9 | 0 | -90 | 51.0 |
| X68-22-PP-008 | N1 | X68 | 627447.4 | 6749165.0 | 179.9 | 0 | -90 | 45.0 |
| X68-22-PP-009 | N1 | X68 | 627456.4 | 6749137.0 | 180.0 | 0 | -90 | 48.0 |
| X68-22-PP-010 | N1 | X68 | 627420.2 | 6749158.0 | 180.0 | 0 | -90 | 45.0 |
| X68-22-PP-011 | N1 | X68 | 627431.9 | 6749130.0 | 180.0 | 0 | -90 | 45.0 |
| X68-22-PP-012 | N1 | X68 | 627113.1 | 6749062.0 | 179.7 | 0 | -90 | 42.0 |
| X68-22-PP-013 | N1 | X68 | 627138.2 | 6749008.0 | 179.9 | 0 | -90 | 42.0 |
| X68-22-PP-014 | N1 | X68 | 627142.2 | 6749068.0 | 179.5 | 0 | -90 | 39.0 |
| X68-22-PP-015 | N1 | X68 | 627153.8 | 6749045.0 | 179.7 | 0 | -90 | 39.0 |
| X68-22-PP-016 | N1 | X68 | 627166.8 | 6749019.0 | 180.0 | 0 | -90 | 45.0 |
| X68-22-PP-017 | N1 | X68 | 627178.4 | 6748997.0 | 179.9 | 0 | -90 | 39.0 |
| X68-22-PP-018 | N1 | X68 | 627169.2 | 6749082.0 | 179.7 | 0 | -90 | 42.0 |
| X68-22-PP-019 | N1 | X68 | 627198.8 | 6749033.0 | 179.8 | 0 | -90 | 42.0 |
| X68-22-PP-020 | N1 | X68 | 627206.6 | 6749079.0 | 179.8 | 0 | -90 | 36.0 |
| X68-22-PP-021 | N1 | X68 | 627216.2 | 6749057.0 | 180.0 | 0 | -90 | 42.0 |
| X68-22-PP-022 | N1 | X68 | 627228.5 | 6749031.0 | 179.8 | 0 | -90 | 42.0 |
| X68-22-PP-023 | N1 | X68 | 627227.3 | 6749103.0 | 179.6 | 0 | -90 | 45.0 |
| X68-22-PP-024 | N1 | X68 | 627239.4 | 6749077.5 | 179.7 | 0 | -90 | 42.0 |
| X68-22-PP-025 | N1 | X68 | 627251.7 | 6749051.0 | 180.0 | 0 | -90 | 45.0 |
| X68-22-PP-026 | N1 | X68 | 627080.8 | 6749064.0 | 179.2 | 0 | -90 | 42.0 |
| X68-22-PP-027 | N1 | X68 | 627094.4 | 6749036.0 | 179.6 | 0 | -90 | 42.0 |
| X68-22-PP-028 | N1 | X68 | 627109.7 | 6749010.0 | 179.8 | 0 | -90 | 45.0 |
| X68-22-PP-029 | N1 | X68 | 627123.7 | 6748977.0 | 179.9 | 0 | -90 | 42.0 |
| X68-22-PP-030 | N1 | X68 | 627061.7 | 6749036.0 | 179.7 | 0 | -90 | 42.0 |
| X68-22-PP-031 | N1 | X68 | 627092.8 | 6748978.0 | 179.7 | 0 | -90 | 48.0 |
| X68-22-PP-032 | N1 | X68 | 627052.8 | 6749005.0 | 179.8 | 0 | -90 | 30.0 |
| X68-22-PP-033 | N1 | X68 | 627307.7 | 6749133.4 | 179.9 | 0 | -90 | 45.0 |
| X68-22-PP-034 | N1 | X68 | 627375.5 | 6749121.3 | 180.1 | 0 | -90 | 48.0 |
| X68-22-PP-035* | N1 | X68 | 627323.0 | 6749097.2 | 179.9 | 0 | -90 | 57.0 |
| Y53-22-PP-001 | N1 | Y53 | 634124.0 | 6752987.4 | 182.0 | 0 | -90 | 33.0 |
| Y53-22-PP-002 | N1 | Y53 | 634105.0 | 6753021.5 | 183.1 | 0 | -90 | 33.0 |
| Y53-22-PP-003* | N1 | Y53 | 634070.9 | 6753001.9 | 182.9 | 0 | -90 | 33.0 |
| Y53-22-PP-004 | N1 | Y53 | 634035.1 | 6752973.7 | 181.5 | 0 | -90 | 27.0 |
| Y53-22-PP-005 | N1 | Y53 | 634052.5 | 6752943.4 | 181.5 | 0 | -90 | 36.0 |
| Y53-22-PP-006 | N1 | Y53 | 634018.7 | 6752925.7 | 182.0 | 0 | -90 | 36.0 |
| Y53-22-PP-007 | N1 | Y53 | 633881.9 | 6752885.8 | 181.9 | 0 | -90 | 36.0 |
| Y53-22-PP-008 | N1 | Y53 | 633951.3 | 6752876.5 | 181.8 | 0 | -90 | 42.0 |
| Y53-22-PP-009 | N1 | Y53 | 633873.2 | 6752820.1 | 181.5 | 0 | -90 | 39.0 |
| Y53-22-PP-010 | N1 | Y53 | 633888.6 | 6752794.0 | 182.0 | 0 | -90 | 33.0 |
| Y53-22-PP-011 | N1 | Y53 | 633969.4 | 6752846.9 | 182.0 | 0 | -90 | 36.0 |
| Y53-22-PP-012 | N1 | Y53 | 633987.0 | 6752824.7 | 181.4 | 0 | -90 | 33.0 |
| Y53-22-PP-013 | N1 | Y53 | 633985.5 | 6752802.5 | 181.8 | 0 | -90 | 33.0 |
| Y53-22-PP-014* | N1 | Y53 | 633788.0 | 6752811.7 | 181.6 | 0 | -90 | 33.0 |
| Y53-22-PP-015 | N1 | Y53 | 633755.3 | 6752774.1 | 181.6 | 0 | -90 | 27.0 |
| Y62-22-PP-001 | N1 | Y62 | 629533.6 | 6750972.1 | 177.6 | 0 | -90 | 51.0 |
| Y62-22-PP-002 | N1 | Y62 | 629537.7 | 6751013.4 | 177.5 | 0 | -90 | 48.0 |
| Y62-22-PP-003* | N1 | Y62 | 629563.7 | 6750966.3 | 177.7 | 0 | -90 | 51.0 |
| Y62-22-PP-004 | N1 | Y62 | 629560.7 | 6750996.5 | 177.8 | 0 | -90 | 54.0 |
| Y62-22-PP-005 | N1 | Y62 | 629579.7 | 6751031.9 | 177.7 | 0 | -90 | 42.0 |
| Y62-22-PP-006 | N1 | Y62 | 629593.3 | 6751000.5 | 178.1 | 0 | -90 | 54.0 |
| Y62-22-PP-007 | N1 | Y62 | 629618.1 | 6751063.9 | 177.4 | 0 | -90 | 45.0 |
| Y62-22-PP-008 | N1 | Y62 | 629629.7 | 6751035.8 | 177.6 | 0 | -90 | 54.0 |
| Y62-22-PP-009 | N1 | Y62 | 629665.0 | 6751057.6 | 177.7 | 0 | -90 | 54.0 |
| Y62-22-PP-010 | N1 | Y62 | 629738.0 | 6751098.3 | 177.9 | 0 | -90 | 48.0 |
| Y62-22-PP-011 | N1 | Y62 | 629705.0 | 6751078.4 | 177.9 | 0 | -90 | 51.0 |
| Y62-22-PP-012 | N1 | Y62 | 629689.5 | 6751110.1 | 177.5 | 0 | -90 | 50.0 |
| Y62-22-PP-013 | N1 | Y62 | 629721.5 | 6751138.2 | 177.4 | 0 | -90 | 51.0 |
| Y62-22-PP-014 | N1 | Y62 | 629767.8 | 6751118.5 | 180.2 | 0 | -90 | 42.0 |
| Y62-22-PP-015 | N1 | Y62 | 629752.8 | 6751151.1 | 177.3 | 0 | -90 | 45.0 |
| Y62-22-PP-016 | N1 | Y62 | 629792.7 | 6751153.6 | 178.1 | 0 | -90 | 52.0 |
| Y62-22-PP-017 | N1 | Y62 | 629833.1 | 6751149.0 | 178.5 | 0 | -90 | 66.0 |
| Y62-22-PP-018 | N1 | Y62 | 629846.1 | 6751176.7 | 178.6 | 0 | -90 | 54.0 |
| Y62-22-PP-019 | N1 | Y62 | 629813.1 | 6751185.3 | 178.3 | 0 | -90 | 57.0 |
| Y62-22-PP-020 | N1 | Y62 | 629856.8 | 6751240.7 | 178.0 | 0 | -90 | 66.0 |
| Y62-22-PP-021 | N1 | Y62 | 629837.9 | 6751292.7 | 177.8 | 0 | -90 | 63.0 |
| Y62-22-PP-022 | N1 | Y62 | 629876.4 | 6751277.8 | 177.9 | 0 | -90 | 60.0 |
| Y62-22-PP-023 | N1 | Y62 | 629905.6 | 6751300.3 | 178.7 | 0 | -90 | 45.0 |
| Y62-22-PP-024 | N1 | Y62 | 629966.8 | 6751261.1 | 178.6 | 0 | -90 | 42.0 |
| Y62-22-PP-025 | N1 | Y62 | 629952.4 | 6751290.5 | 178.4 | 0 | -90 | 51.0 |
| Y62-22-PP-026 | N1 | Y62 | 629941.1 | 6751318.1 | 178.0 | 0 | -90 | 42.0 |
| Y62-22-PP-027 | N1 | Y62 | 630118.6 | 6751325.4 | 178.3 | 0 | -90 | 48.0 |
| Y62-22-PP-028* | N1 | Y62 | 630097.1 | 6751346.6 | 178.1 | 0 | -90 | 48.0 |
| Y62-22-PP-029 | N1 | Y62 | 630084.2 | 6751376.2 | 178.4 | 0 | -90 | 45.0 |
| Y62-22-PP-030 | N1 | Y62 | 630114.7 | 6751418.1 | 178.2 | 0 | -90 | 48.0 |
| Y62-22-PP-031 | N1 | Y62 | 630139.2 | 6751356.5 | 178.4 | 0 | -90 | 46.0 |
| Y62-22-PP-032 | N1 | Y62 | 630124.3 | 6751389.1 | 178.3 | 0 | -90 | 51.0 |
| Y62-22-PP-033 | N1 | Y62 | 630161.3 | 6751398.4 | 178.4 | 0 | -90 | 49.0 |
| Z60-22-PP-001 | N1 | Z60 | 630867.9 | 6750458.6 | 181.9 | 0 | -90 | 27.0 |
| Z60-22-PP-002 | N1 | Z60 | 630860.8 | 6750423.9 | 182.0 | 0 | -90 | 30.0 |
| Z60-22-PP-003 | N1 | Z60 | 630840.1 | 6750405.0 | 182.0 | 0 | -90 | 30.0 |
| Z60-22-PP-004* | N1 | Z60 | 630809.2 | 6750379.8 | 182.0 | 0 | -90 | 39.0 |
| Z60-22-PP-005 | N1 | Z60 | 630736.4 | 6750338.7 | 181.8 | 0 | -90 | 30.0 |
| Z60-22-PP-006 | N1 | Z60 | 630787.4 | 6750366.2 | 181.9 | 0 | -90 | 27.0 |
| Z60-22-PP-007 | N1 | Z60 | 630810.5 | 6750351.8 | 182.0 | 0 | -90 | 27.0 |
| Z60-22-PP-008 | N1 | Z60 | 630917.9 | 6750437.9 | 182.1 | 0 | -90 | 27.0 |
| Z60-22-PP-009 | N1 | Z60 | 630890.5 | 6750407.5 | 182.0 | 0 | -90 | 30.0 |
| Z60-22-PP-010 | N1 | Z60 | 630866.7 | 6750387.2 | 181.8 | 0 | -90 | 30.0 |
| Z60-22-PP-011 | N1 | Z60 | 630857.6 | 6750358.7 | 182.3 | 0 | -90 | 30.0 |
| Z60-22-PP-012 | N1 | Z60 | 630884.6 | 6750347.9 | 182.3 | 0 | -90 | 30.0 |
| Z60-22-PP-013 | N1 | Z60 | 630910.2 | 6750335.2 | 182.3 | 0 | -90 | 30.0 |
| Z60-22-PP-014 | N1 | Z60 | 630957.5 | 6750352.0 | 182.5 | 0 | -90 | 30.0 |
* Within-deposit hydrogeological drill hole
** Off-deposit hydrogeological drill hole
Special note: X64 (in italics) is included under the X65 deposit in the 2022 PEA
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals 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 2022 PEA has indicated an after-tax NPV of $603M and an IRR of 25% is based on the current Mineral Resource Estimates that are amenable to open pit and shallow underground mining and consist of 15.7Mt grading 5.55% ZnEq of Indicated Mineral Resources and 47.2Mt grading 5.94% 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 and paved highway access, and also has an electrical substation as well as 100 kilometres of viable haulage roads already in place.
The Company is also in the process of acquiring, from Glencore Canada, a 100% interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Quebec. The Company is currently focused on resource evaluation of the Mount Copper Expansion Project that hosts a NI43-101 Inferred Resource of 456Mt grading 0.31% Cu (see April 28, 2022 press release). The Mount Copper Mineral Resource Estimate was prepared and approved by Yann Camus, P.Eng., Geological Services of SGS Canada, an independent Qualified Person in accordance with National Instrument 43-101 standards. The Mineral Resource Estimate was reviewed internally by Guy Desharnais, Ph.D., P. Geo., non-independent Qualified Person in accordance with National Instrument 43-101 standards. Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/b61ba222-95d4-4fe7-8739-bb658bb446a8
Posted November 22, 2022
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