Osisko Metals Incorporated (TSX-V:OM) (FRANKFURT:OB51) is pleased to announce assay results from the remaining 33 shallow drill holes completed during the winter drill program along the Central Zone trend, which includes the Hinge Zone Deposit, and along the East Mill Zone trend in the L27 and K35 deposits. Highlights from the HZ Deposit and L27 Deposit are:
In the HZ deposit, drill hole HZ-18-PP-008 intersected 8.75% Zn and 0.49% Pb over 7.82 metres, and hole HZ-18-PP-002 intersected 9.16% Zn and 0.24% Pb over 5.10 metres. In the East Mill Zone – L27 deposit, hole EM-18-PP-092) intersected 2.7 metres grading 16.99% Zn and 4.35% Pb. All intersections are within near surface flat-lying tabular deposits. All intercepts reported in the HZ deposit are located above 83 metres depth. Reported intersections from the L27 deposit in the East Mill Zone are above 30 metres depth. (See 2018 Winter Drill Campaign East Mill Zone Map B7).
Highlights are listed below in Table 1 and details are provided in Tables 2 & 3.
|Hole Name||Deposit||From||To||Width||Lead||Zinc||Lead + Zinc|
Note: Zinc + Lead grades are rounded to 1/100.
The Central Zone is a chain of deposits in intermittently mineralized dolomite alteration that trends over 7.5 kilometres and hosts the L65 deposit (see news release June 12th, 2018) and the HZ deposit. Relatively continuous mineralization is currently traced for 3.0 kilometres in strike length. The eastern end of the Central Zone is located 11 kilometres to the west of the electrical sub-station along the main haulage road. Multiple mineralized zones were intersected in 3 drill holes in the HZ deposit. Historical resources reported by Cominco Limited for the HZ Deposit are 1.9Mt at 3.8% Zn and 0.9% Pb. (See 2018 Winter Drill Campaign Hinge Zone Map B7).
The East Mill Zone (see news releases May 1st, May 15th, May 29th, June 7th, and June 12th, 2018) is a 7.6-kilometre trend that extends towards the east from the electrical substation area. Multiple mineralized intercepts were reported in 4 of the drill holes completed in the East Mill Zone. See Osisko Metals website for additional geological background on both the Central Zone and East Mill Zone.
Results from drilling to date are compatible with the historical Cominco Limited drill hole data base that has been compiled by the Company. Drilling is ongoing with the start of the summer program. One drill is active with 2 drills arriving shortly. An additional 6 drills are planned to arrive in early July. The summer drill program will consist of approximately 570 drill holes and will focus on the East Mill Zone and the Central Zone. This aggressive program is designed to bring the core areas to a drill spacing of approximately 30 metres to confirm historical intercepts drilled by Cominco Limited, required to utilize the historical holes in an upcoming compliant resource estimate. The majority of Cominco holes have been found in the field and locations are being surveyed to required standards.
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. (I would suggest to remove the historical reference within the text to omit the disclosure or keep the historical reference but include the disclosure in the foot notes or cautionary statement)
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
|From||To||Width||True Width||Lead||Zinc||Lead + Zinc|
|HZ-18-PP-001||Central||HZ||No significant results|
|EM-18-PP-053||East Mill||L27||No significant results|
|EM-18-PP-065||East Mill||L27||No significant results|
|EM-18-PP-086||East Mill||L27||No significant results|
|EM-18-PP-090||East Mill||L27||No significant results|
Highlights: Note: Lead + Zinc grades may not add up exactly due to rounding to two decimal places.
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 (63,000 ha). The Company is currently drilling in both mining camps for a combined 100,000 metre program. 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 Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel, Osisko Metals is monitoring several base metal-oriented peers for opportunities.
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