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Osisko Metals Announces Pine Point Collaboration Agreements

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Osisko Metals Announces Pine Point Collaboration Agreements

 

 

 

 

 

Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) is pleased to announce that it has entered into two separate Collaboration Agreements regarding the Pine Point Project with the Deninu Kue First Nation and the Northwest Territory Metis Nation. These parties have entered into the agreements in order to promote a cooperative and mutually respectful relationship governing the proposed exploration and development activities in the area of Pine Point. The agreements reflect the intention to work with each Indigenous community regarding education and training, employment, business and contracting opportunities, information sharing, site visits and also broad outlines of topics for future agreements.

 

Jeff Hussey, President & CEO, commented: “We are very happy to announce these two agreements with the Indigenous communities that live near the portion of the Pine Point Project located east of the Buffalo River. This is where Cominco Limited operated the mining complex for close to twenty-five years and where most of our pit-constrained zinc-lead mineral resources are located. The motivation behind these agreements is to establish a collaborative approach as we continue to advance the Pine Point project; it is an important step in building meaningful collaboration with local communities. We also look forward to continuing discussions with other local communities regarding the project.”

 

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 Corporation controls Canada’s two premier historical zinc mining camps: The Pine Point Mining Camp and the Bathurst Mining Camp. The Pine Point Mining Camp is located on the south shore of Great Slave Lake in the Northwest Territories, near established infrastructure, with paved highway access and 100 kilometres of mine haulage roads and power substation already in place. The Pine Point Mining Camp currently hosts an inferred mineral resource (for purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects) of 38.4 Mt grading 4.58% zinc and 1.85% lead, making it the largest near-surface, pit-constrained zinc deposit in Canada (please refer to the technical report titled “Mineral Resource Estimate for the Pine Point Lead-Zinc Project, Hay River, Northwest Territories, Canada” dated as of January 18, 2019, as amended and restated as of January 25, 2019 (with an effective date of December 20, 2018) prepared by BBA Inc. for Osisko Metals, a copy of which is available on SEDAR (www.sedar.com) under Osisko Metals’ issuer profile. The 2018-2019 drill holes, once fully assayed, will be incorporated into the database with the objective of issuing a new resource estimate in the second half of 2019. The Bathurst Mining Camp is located in northern New Brunswick, with an indicated mineral resource (for purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects) of 1.96 Mt grading 5.77% zinc, 2.38% lead, 0.22% copper and 68.9g/t silver (9.00% ZnEq) and an inferred mineral resource (for purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects) of 3.85 Mt grading 5.34% zinc, 1.49% lead, 0.32% copper and 47.7 g/t silver (7.96% ZnEq) in the Key Anacon and Gilmour South deposits. In Québec, Osisko Metals owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration in 2019.

 

Posted September 30, 2019

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