Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) is pleased to announce that it has launched a Scope 1 level estimation of Greenhouse Gas emissions from the conceptual design that was included in the July 2020 Preliminary Economic Assessment, for its wholly- owned Pine Point Project in the Northwest Territories. Concurrent to this analysis, Osisko Metals will conduct trade-off studies evaluating the potential for energy efficiency, alternative on-site renewable energy generation as well as the incorporation of energy storage solutions such as those designed by Zinc8 Energy Solutions (https://zinc8energy.com/).
Robert Wares, Chairman & CEO, commented: “Pine Point is expected to produce one of the cleanest zinc and lead concentrates globally. The project also benefits from the proposed incorporation of ore sorting technologies as well as the use of natural gas for complementary power generation reducing the GHG footprint, and further strengthening the value of the project in a decarbonizing economy. We are confident that the new hydrogeological model will significantly lower the Pine Point power requirements by reducing pumping costs over life-of-mine. Combining this with the potential to reduce natural gas power generation with renewable energy and Zinc Hybrid Flow Battery grid storage technology, we are very optimistic in the potential to further reduce the Project’s GHG footprint in a significant way.”
Local Grid Storage Through Zinc Hybrid Flow Batteries
Power availability and fluctuation from renewable energy sources such as wind or solar presents a major impediment to mass adoption. Advancement in zinc-based energy storage solution technology could resolve the intermittent and unpredictable nature of natural renewable energy sources.
Zinc Hybrid Flow Battery technology is expected to be a very cost-effective alternative compared to Lithium Ion or Vanadium Redox energy storage systems, allowing for optimization of renewable energy systems. Osisko Metals will evaluate the potential to store power for specific uses directly on-site through a Zinc Hybrid Flow Battery storage system coupled to the local hydro-electric grid or to alternative energy sources, maximizing the use of renewable energy sources.
Scope 1 GHG Review of Pine Point
Osisko Metals has mandated BBA Inc. to perform a Scope 1 GHG measurement and analysis study of the operational concept included in the 2020 PEA Pine Point. Crucially, this review will also incorporate emissions from the transportation of concentrate to the smelter (usually part of Scope 3) and provide a clear picture of the environmental footprint of the Pine Point Project for its customers. During the initial design concept of the project included in the 2020 PEA, the Company incorporated certain infrastructure advantages that are expected to have significant benefits towards reducing the GHG footprint relative to comparable projects. These advantages include:
Alternative Power Generation Trade-Off Studies
Concurrent to the GHG Scope 1 analysis, Osisko Metals has initiated a number of trade-off studies to identify economically feasible alternative energy sources to complement the hydroelectric power that is available on site from the local grid. The objective of these studies is to maximize the use of energy from sources with low GHG emissions at Pine Point. More specifically, Osisko Metals will evaluate:
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the base metal 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 2020 PEA has indicated an after-tax NPV of $500M and an IRR of 29.6%. The Pine Point Project PEA is based on current Mineral Resource Estimates that are amenable to open pit and shallow underground mining and consist of 12.9Mt grading 6.29% ZnEq of Indicated Mineral Resources and 37.6Mt grading 6.80% ZnEq of Inferred Mineral Resources. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, North West 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, paved highway access, and has an electrical substation as well as 100 kilometres of viable haulage roads already in place.
The current Mineral Resources mentioned in this press release conform to NI43-101 standards and were prepared by independent qualified persons, as defined by NI43-101 guidelines. The abovementioned Mineral Resources are not Mineral Reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological grade and/or quality of continuity. Zinc equivalency percentages are calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs, smelter payable metals and charges (see respective technical reports for details).
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We acknowledge the [financial] support of the Government of Canada.