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Osisko Metals Reports 11 Metres Grading 14.71% Zn + Pb From Final Results of the 2023 Pine Point Drill Program
Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) is pleased to announce the remaining results from the 2023 drilling program at the Pine Point Mining Limited Joint Venture Project, located in the Northwest Territories, Canada. The reported results are from the C2 Zone, N1 Zone, NE1 Zone, and the NE2 Zone. Results are all from near-surface, tabular-style deposits, and these will be incorporated into a new Mineral Resource Estimate that will be released in Q1 2024 and will be integrated into a Feasibility Study that is also planned to start in Q1 2024.
Highlights of Drill Hole Assay Composites:
- K51-23-PP-004: 11.00 metres grading 12.48% Zn and 2.23% Pb (14.71% Zn+Pb)
- K51-23-PP-005: 5.00 metres grading 8.47% Zn and 1.02% Pb (9.49% Zn+Pb)
- K52-23-PP-020: 4.95 metres grading 11.36% Zn and 1.07% Pb (12.43% Zn+Pb)
- T37-23-PP-004: 4.00 metres grading 8.08% Zn and 1.21%Pb (9.29% Zn+Pb)
- X49-23-PP-014: 4.10 metres grading 9.72% Zn and 1.67% Pb (11.39% Zn+Pb)
- X49-23-PP-027: 5.00 metres grading 5.85% Zn and 1.30% Pb (7.14% Zn+Pb)
- X59-23-PP-014: 5.50 metres grading 12.80% Zn and 1.38% Pb (14.18% Zn+Pb)
- X60-23-PP-003: 6.00 metres grading 16.47% Zn and 1.42% Pb (17.89% Zn+Pb)
- X68-23-PP-014: 8.00 metres grading 7.86% Zn and 1.13% Pb (8.99% Zn+Pb)
- X68-23-PP-016: 6.50 metres grading 6.38% Zn and 0.93% Pb (7.30% Zn+Pb)
- Y62-23-PP-003: 8.00 metres grading 6.81% Zn and 0.63% Pb (7.44% Zn+Pb)
Robert Wares, CEO and Chairman of the Board, commented: “Drill results over the last five years at Pine Point have met or exceeded expectations, and now that the definition drilling program is essentially completed, we will have an updated Mineral Resource Estimate this quarter. This MRE will comprise mostly indicated resources and will be updated to take into account higher estimated mining and energy costs. This winter, we will focus on drill-testing new prismatic-style exploration targets at Pine Point with a significant drill program. With an updated MRE in hand, our joint-venture with Appian Natural Resources Fund III LP is successfully advancing Pine Point as we enter the feasibility stage of the project.”
Recent advancement in the geological understanding of Pine Point has greatly enhanced the favorability of the underlying stratigraphy (Pine Point Formation) for hosting high-grade prismatic-style deposits in addition to the remaining potential in the Sulphur Point Formation. An exploration program is currently underway using modern induced polarization surveys (IP) to search for these high-value deposits. A significant number of exploration targets will be tested with a $3 million drill program slated to start this month.
Drilling was conducted as part of PPML’s Joint Venture’s larger 2023 definition drilling program designed to achieve an average drill spacing of approximately 30 metres within the currently modelled mineral resources reported in the 2022 PEA. This spacing is intended to upgrade the resources presently classified as Inferred to the Indicated category so that they can be included as the resource base for the upcoming FS.
Table 1: Drill Hole Assay Composites*.
| Hole Name | Zone | Deposit | From | To | Drill width | True Width | Zn | Pb | Zn+Pb |
| (m) | (m) | (m) | (m) | % | % | % | |||
| K51-23-PP-004 | C2 | K51 | 34.00 | 45.00 | 11.00 | 10.98 | 12.48 | 2.23 | 14.71 |
| K51-23-PP-005 | C2 | K51 | 16.30 | 19.00 | 2.70 | 2.69 | 11.25 | 1.11 | 12.36 |
| K51-23-PP-005 | C2 | K51 | 36.00 | 37.00 | 1.00 | 1.00 | 3.33 | 0.02 | 3.35 |
| K51-23-PP-005 | C2 | K51 | 40.00 | 45.00 | 5.00 | 4.98 | 8.47 | 1.02 | 9.49 |
| K51-23-PP-009 | C2 | K51 | 39.00 | 41.00 | 2.00 | 2.00 | 2.60 | 0.30 | 2.90 |
| K52-23-PP-003 | C2 | K52 | 37.00 | 38.00 | 1.00 | 1.00 | 2.73 | 0.38 | 3.11 |
| K52-23-PP-004 | C2 | K52 | 35.00 | 36.00 | 1.00 | 1.00 | 3.23 | 0.26 | 3.49 |
| K52-23-PP-004 | C2 | K52 | 39.00 | 40.00 | 1.00 | 1.00 | 8.99 | 1.11 | 10.10 |
| K52-23-PP-004 | C2 | K52 | 42.00 | 43.00 | 1.00 | 1.00 | 3.34 | 0.23 | 3.57 |
| K52-23-PP-005 | C2 | K52 | 41.00 | 44.00 | 3.00 | 3.00 | 2.31 | 0.49 | 2.80 |
| K52-23-PP-009 | C2 | K52 | 37.00 | 38.50 | 1.50 | 1.50 | 3.03 | 0.63 | 3.66 |
| K52-23-PP-009 | C2 | K52 | 43.00 | 44.50 | 1.50 | 1.50 | 6.77 | 0.94 | 7.71 |
| K52-23-PP-010 | C2 | K52 | 35.00 | 37.00 | 2.00 | 1.99 | 4.64 | 0.34 | 4.99 |
| K52-23-PP-010 | C2 | K52 | 44.00 | 46.00 | 2.00 | 1.99 | 1.61 | 0.93 | 2.53 |
| K52-23-PP-014 | C2 | K52 | 43.00 | 44.00 | 1.00 | 1.00 | 3.54 | 1.48 | 5.02 |
| K52-23-PP-016 | C2 | K52 | 38.00 | 39.00 | 1.00 | 1.00 | 4.66 | 0.01 | 4.67 |
| K52-23-PP-017 | C2 | K52 | 41.00 | 42.00 | 1.00 | 1.00 | 1.89 | 4.95 | 6.84 |
| K52-23-PP-020 | C2 | K52 | 41.05 | 46.00 | 4.95 | 4.94 | 11.36 | 1.07 | 12.43 |
| M48-23-PP-001 | C2 | M48 | 36.00 | 37.50 | 1.50 | 1.50 | 4.55 | 0.17 | 4.72 |
| M48-23-PP-003 | C2 | M48 | 33.00 | 35.00 | 2.00 | 2.00 | 5.07 | 0.49 | 5.56 |
| M48-23-PP-003 | C2 | M48 | 37.00 | 43.00 | 6.00 | 5.99 | 10.94 | 1.95 | 12.89 |
| T37-23-PP-001 | NE1 | T37 | 6.50 | 7.15 | 0.65 | 0.65 | 3.12 | 0.02 | 3.14 |
| T37-23-PP-002 | NE1 | T37 | 8.00 | 11.00 | 3.00 | 3.00 | 5.25 | 1.58 | 6.83 |
| T37-23-PP-003 | NE1 | T37 | 14.00 | 17.00 | 3.00 | 2.99 | 4.16 | 0.92 | 5.07 |
| T37-23-PP-004 | NE1 | T37 | 18.00 | 22.00 | 4.00 | 3.99 | 8.08 | 1.21 | 9.29 |
| T37-23-PP-005 | NE1 | T37 | 23.00 | 25.00 | 2.00 | 1.99 | 2.18 | 5.66 | 7.84 |
| T37-23-PP-006 | NE1 | T37 | 29.00 | 32.00 | 3.00 | 2.99 | 1.09 | 0.85 | 1.95 |
| T37-23-PP-007 | NE1 | T37 | 9.00 | 11.00 | 2.00 | 2.00 | 3.67 | 0.08 | 3.74 |
| X18-23-PP-003 | NE2 | X18 | 35.00 | 38.00 | 3.00 | 2.99 | 5.15 | 1.11 | 6.26 |
| X18-23-PP-003 | NE2 | X18 | 42.00 | 43.00 | 1.00 | 1.00 | 2.43 | 0.00 | 2.43 |
| X18-23-PP-003 | NE2 | X18 | 47.00 | 48.00 | 1.00 | 1.00 | 2.43 | 0.01 | 2.44 |
| X49-23-PP-003 | N1 | X49 | 22.00 | 23.00 | 1.00 | 1.00 | 2.63 | 0.38 | 3.00 |
| X49-23-PP-005 | N1 | X49 | 15.00 | 20.00 | 5.00 | 4.99 | 2.43 | 1.60 | 4.03 |
| X49-23-PP-013 | N1 | X49 | 17.90 | 18.95 | 1.05 | 1.05 | 17.15 | 2.67 | 19.82 |
| X49-23-PP-013 | N1 | X49 | 21.00 | 22.00 | 1.00 | 1.00 | 5.95 | 5.13 | 11.08 |
| X49-23-PP-014 | N1 | X49 | 19.70 | 23.80 | 4.10 | 4.10 | 9.72 | 1.67 | 11.39 |
| X49-23-PP-014 | N1 | X49 | 26.00 | 27.00 | 1.00 | 1.00 | 0.22 | 1.79 | 2.01 |
| X49-23-PP-017 | N1 | X49 | 17.00 | 24.00 | 7.00 | 6.99 | 2.80 | 0.48 | 3.28 |
| X49-23-PP-020 | N1 | X49 | 18.00 | 21.00 | 3.00 | 3.00 | 5.11 | 0.88 | 5.99 |
| X49-23-PP-025 | N1 | X49 | 21.00 | 24.00 | 3.00 | 3.00 | 3.11 | 0.40 | 3.52 |
| X49-23-PP-026 | N1 | X49 | 20.00 | 24.00 | 4.00 | 3.99 | 3.36 | 0.50 | 3.86 |
| X49-23-PP-027 | N1 | X49 | 20.00 | 25.00 | 5.00 | 5.00 | 5.85 | 1.30 | 7.14 |
| X59-23-PP-002 | N1 | X59 | 36.25 | 37.00 | 0.75 | 0.75 | 4.14 | 2.11 | 6.25 |
| X59-23-PP-004 | N1 | X59 | 49.00 | 50.00 | 1.00 | 1.00 | 8.43 | 0.02 | 8.45 |
| X59-23-PP-004 | N1 | X59 | 52.00 | 59.00 | 7.00 | 6.99 | 3.09 | 0.18 | 3.27 |
| X59-23-PP-005 | N1 | X59 | 49.50 | 50.50 | 1.00 | 1.00 | 1.74 | 2.15 | 3.89 |
| X59-23-PP-006 | N1 | X59 | 34.00 | 35.00 | 1.00 | 1.00 | 2.06 | 0.00 | 2.06 |
| X59-23-PP-007 | N1 | X59 | 30.00 | 32.00 | 2.00 | 2.00 | 4.38 | 1.40 | 5.77 |
| X59-23-PP-011 | N1 | X59 | 35.00 | 36.00 | 1.00 | 1.00 | 2.78 | 1.11 | 3.89 |
| X59-23-PP-014 | N1 | X59 | 28.00 | 33.50 | 5.50 | 5.49 | 12.80 | 1.38 | 14.18 |
| X59-23-PP-017 | N1 | X59 | 31.85 | 33.35 | 1.50 | 1.50 | 7.99 | 1.13 | 9.12 |
| X60-23-PP-003 | N1 | X60 | 23.00 | 25.00 | 2.00 | 2.00 | 2.08 | 0.14 | 2.22 |
| X60-23-PP-003 | N1 | X60 | 30.00 | 36.00 | 6.00 | 5.99 | 16.47 | 1.42 | 17.89 |
| X60-23-PP-003 | N1 | X60 | 44.00 | 45.00 | 1.00 | 1.00 | 3.19 | 1.04 | 4.23 |
| X60-23-PP-004 | N1 | X60 | 32.00 | 36.00 | 4.00 | 4.00 | 8.12 | 1.52 | 9.64 |
| X60-23-PP-005 | N1 | X60 | 42.00 | 43.00 | 1.00 | 1.00 | 9.86 | 1.34 | 11.20 |
| X60-23-PP-007 | N1 | X60 | 31.00 | 35.00 | 4.00 | 4.00 | 2.87 | 0.82 | 3.69 |
| X60-23-PP-007 | N1 | X60 | 49.00 | 50.00 | 1.00 | 1.00 | 6.75 | 2.96 | 9.71 |
| X60-23-PP-009 | N1 | X60 | 35.00 | 36.00 | 1.00 | 1.00 | 3.15 | 0.04 | 3.19 |
| X61-23-PP-001 | N1 | X61 | 45.00 | 46.00 | 1.00 | 1.00 | 3.54 | 0.89 | 4.43 |
| X61-23-PP-002 | N1 | X61 | 39.00 | 40.00 | 1.00 | 1.00 | 1.73 | 0.39 | 2.11 |
| X61-23-PP-002 | N1 | X61 | 42.00 | 46.00 | 4.00 | 3.99 | 6.07 | 1.92 | 7.99 |
| X61-23-PP-002 | N1 | X61 | 52.00 | 53.00 | 1.00 | 1.00 | 2.83 | 0.38 | 3.21 |
| X64-23-PP-005 | N1 | X64 | 38.00 | 41.22 | 3.22 | 3.21 | 12.86 | 2.61 | 15.46 |
| X64-23-PP-007 | N1 | X65 | 38.00 | 42.00 | 4.00 | 3.99 | 4.21 | 0.28 | 4.49 |
| X64-23-PP-008 | N1 | X66 | 60.00 | 61.00 | 1.00 | 1.00 | 2.66 | 0.00 | 2.66 |
| X68-23-PP-006 | N1 | X68 | 40.00 | 41.00 | 1.00 | 1.00 | 2.05 | 0.46 | 2.51 |
| X68-23-PP-007 | N1 | X68 | 31.00 | 35.37 | 4.37 | 4.36 | 2.47 | 0.65 | 3.12 |
| X68-23-PP-009 | N1 | X68 | 34.00 | 35.00 | 1.00 | 1.00 | 4.94 | 0.11 | 5.05 |
| X68-23-PP-013 | N1 | X68 | 40.00 | 41.00 | 1.00 | 1.00 | 2.31 | 0.30 | 2.61 |
| X68-23-PP-014 | N1 | X68 | 33.00 | 41.00 | 8.00 | 7.98 | 7.86 | 1.13 | 8.99 |
| X68-23-PP-015 | N1 | X68 | 34.00 | 36.00 | 2.00 | 2.00 | 7.21 | 2.09 | 9.30 |
| X68-23-PP-015 | N1 | X68 | 38.00 | 39.00 | 1.00 | 1.00 | 2.01 | 0.03 | 2.04 |
| X68-23-PP-016 | N1 | X68 | 36.00 | 42.50 | 6.50 | 6.49 | 6.38 | 0.93 | 7.30 |
| Y55-23-PP-003 | N1 | Y55 | 20.00 | 21.00 | 1.00 | 1.00 | 2.29 | 0.22 | 2.51 |
| Y55-23-PP-005 | N1 | Y55 | 23.00 | 25.00 | 2.00 | 2.00 | 2.90 | 0.41 | 3.31 |
| Y55-23-PP-006 | N1 | Y55 | 22.00 | 23.00 | 1.00 | 1.00 | 2.13 | 0.41 | 2.54 |
| Y55-23-PP-006 | N1 | Y55 | 25.00 | 26.00 | 1.00 | 1.00 | 4.14 | 0.66 | 4.80 |
| Y55-23-PP-007 | N1 | Y55 | 19.00 | 21.00 | 2.00 | 2.00 | 21.43 | 0.28 | 21.71 |
| Y55-23-PP-010 | N1 | Y55 | 17.00 | 18.00 | 1.00 | 1.00 | 2.33 | 0.00 | 2.33 |
| Y55-23-PP-012 | N1 | Y55 | 17.00 | 18.40 | 1.40 | 1.40 | 19.90 | 13.65 | 33.55 |
| Y55-23-PP-014 | N1 | Y55 | 22.00 | 23.00 | 1.00 | 1.00 | 6.33 | 1.58 | 7.91 |
| Y57-23-PP-001 | N1 | Y57 | 9.60 | 13.00 | 3.40 | 3.39 | 2.59 | 1.04 | 3.63 |
| Y57-23-PP-001 | N1 | Y57 | 15.00 | 16.00 | 1.00 | 1.00 | 3.97 | 0.02 | 3.99 |
| Y57-23-PP-003 | N1 | Y57 | 15.00 | 19.00 | 4.00 | 3.99 | 2.92 | 0.07 | 3.00 |
| Y57-23-PP-003 | N1 | Y57 | 24.00 | 26.00 | 2.00 | 2.00 | 2.48 | 0.11 | 2.59 |
| Y57-23-PP-005 | N1 | Y57 | 13.00 | 17.00 | 4.00 | 4.00 | 3.75 | 0.11 | 3.86 |
| Y58-23-PP-004 | N1 | Y58 | 25.00 | 26.00 | 1.00 | 1.00 | 1.34 | 0.72 | 2.05 |
| Y58-23-PP-005 | N1 | Y58 | 21.00 | 22.00 | 1.00 | 1.00 | 5.70 | 0.01 | 5.71 |
| Y58-23-PP-005 | N1 | Y58 | 24.00 | 26.00 | 2.00 | 2.00 | 5.28 | 0.11 | 5.38 |
| Y58-23-PP-007 | N1 | Y58 | 22.00 | 23.00 | 1.00 | 1.00 | 3.04 | 0.01 | 3.05 |
| Y62-23-PP-001 | N1 | Y62 | 34.00 | 40.00 | 6.00 | 5.97 | 4.49 | 1.19 | 5.68 |
| Y62-23-PP-001 | N1 | Y62 | 45.00 | 46.00 | 1.00 | 0.99 | 1.65 | 0.52 | 2.17 |
| Y62-23-PP-002 | N1 | Y62 | 38.00 | 41.00 | 3.00 | 2.99 | 7.22 | 0.83 | 8.05 |
| Y62-23-PP-002B | N1 | Y62 | 36.90 | 42.00 | 5.10 | 5.09 | 4.35 | 0.56 | 4.90 |
| Y62-23-PP-002B | N1 | Y62 | 44.00 | 46.00 | 2.00 | 2.00 | 5.67 | 0.87 | 6.54 |
| Y62-23-PP-003 | N1 | Y62 | 42.00 | 50.00 | 8.00 | 8.00 | 6.81 | 0.63 | 7.44 |
| Y68-23-PP-001 | N1 | Y68 | 18.00 | 19.00 | 1.00 | 1.00 | 2.03 | 0.06 | 2.09 |
| Y68-23-PP-001 | N1 | Y68 | 44.00 | 45.00 | 1.00 | 1.00 | 1.48 | 0.52 | 2.00 |
| Y68-23-PP-003 | N1 | Y68 | 38.00 | 39.10 | 1.10 | 1.10 | 2.65 | 0.06 | 2.71 |
| Y68-23-PP-003 | N1 | Y68 | 45.00 | 46.00 | 1.00 | 1.00 | 3.66 | 0.40 | 4.06 |
| Y68-23-PP-003 | N1 | Y68 | 48.00 | 49.00 | 1.00 | 1.00 | 1.70 | 0.32 | 2.01 |
| Y68-23-PP-003 | N1 | Y68 | 51.00 | 52.00 | 1.00 | 1.00 | 2.10 | 0.15 | 2.25 |
| Y68-23-PP-006 | N1 | Y68 | 47.00 | 49.00 | 2.00 | 2.00 | 2.17 | 1.13 | 3.29 |
*Drill holes not reported in this table with a collar location tabulated in Table 2 contained no significant assay results. Results are mostly from the K51, K52, M48, T37, X18, X49, X59, X60, X61, X64, X68, Y55, Y57, Y58, Y62, and Y68 deposits in the C2 Zone.
Qualified Person
Mr. Robin Adair is the Qualified Person and the Senior Technical Advisor for Pine Point Mining Limited. He is responsible for the technical data reported in this news release and 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 | Elevation | Azimuth | Dip | Length |
| K51-23-PP-001 | C2 | K51 | 635037 | 6747936 | 213 | 0 | -90 | 50 |
| K51-23-PP-002 | C2 | K51 | 635056 | 6747910 | 213 | 0 | -90 | 57 |
| K51-23-PP-003 | C2 | K51 | 635082 | 6747918 | 213 | 0 | -90 | 44 |
| K51-23-PP-004 | C2 | K51 | 635062 | 6747859 | 213 | 0 | -90 | 46 |
| K51-23-PP-005 | C2 | K51 | 634833 | 6747777 | 213 | 0 | -90 | 49 |
| K51-23-PP-006 | C2 | K51 | 634839 | 6747741 | 213 | 0 | -90 | 49 |
| K51-23-PP-008 | C2 | K51 | 634985 | 6747868 | 213 | 0 | -90 | 53 |
| K51-23-PP-009 | C2 | K51 | 634963 | 6747791 | 213 | 0 | -90 | 52 |
| K52-23-PP-001 | C2 | K52 | 635249 | 6747538 | 215 | 0 | -90 | 47 |
| K52-23-PP-002 | C2 | K52 | 635203 | 6747528 | 214 | 0 | -90 | 47 |
| K52-23-PP-003 | C2 | K52 | 635186 | 6747502 | 215 | 0 | -90 | 43 |
| K52-23-PP-004 | C2 | K52 | 635170 | 6747528 | 214 | 0 | -90 | 44 |
| K52-23-PP-005 | C2 | K52 | 635119 | 6747501 | 214 | 0 | -90 | 49 |
| K52-23-PP-006 | C2 | K52 | 635104 | 6747526 | 214 | 0 | -90 | 41 |
| K52-23-PP-007 | C2 | K52 | 635089 | 6747498 | 215 | 0 | -90 | 42 |
| K52-23-PP-008 | C2 | K52 | 635070 | 6747474 | 215 | 0 | -90 | 46 |
| K52-23-PP-009 | C2 | K52 | 635047 | 6747444 | 215 | 0 | -90 | 46 |
| K52-23-PP-010 | C2 | K52 | 635058 | 6747504 | 215 | 0 | -90 | 49 |
| K52-23-PP-011 | C2 | K52 | 635026 | 6747501 | 214 | 0 | -90 | 43 |
| K52-23-PP-012 | C2 | K52 | 635011 | 6747528 | 214 | 0 | -90 | 43 |
| K52-23-PP-013 | C2 | K52 | 635226 | 6747596 | 214 | 0 | -90 | 50 |
| K52-23-PP-014 | C2 | K52 | 635178 | 6747578 | 214 | 0 | -90 | 56 |
| K52-23-PP-015 | C2 | K52 | 635043 | 6747528 | 214 | 0 | -90 | 43 |
| K52-23-PP-016 | C2 | K52 | 635074 | 6747532 | 214 | 0 | -90 | 50 |
| K52-23-PP-017 | C2 | K52 | 635170 | 6747480 | 215 | 0 | -90 | 47 |
| K52-23-PP-018 | C2 | K52 | 635152 | 6747512 | 214 | 0 | -90 | 46 |
| K52-23-PP-019 | C2 | K52 | 635206 | 6747576 | 214 | 0 | -90 | 44 |
| K52-23-PP-020 | C2 | K52 | 634893 | 6747512 | 213 | 0 | -90 | 65 |
| M48-23-PP-001 | C2 | M48 | 636391 | 6747718 | 218 | 0 | -90 | 48 |
| M48-23-PP-002 | C2 | M49 | 636440 | 6747754 | 218 | 0 | -90 | 51 |
| M48-23-PP-003 | C2 | M50 | 636480 | 6747835 | 218 | 0 | -90 | 45 |
| T37-23-PP-001 | NE1 | T37 | 640677 | 6757978 | 181 | 0 | -90 | 25 |
| T37-23-PP-002 | NE1 | T37 | 640713 | 6758003 | 181 | 0 | -90 | 36 |
| T37-23-PP-003 | NE1 | T37 | 640779 | 6758026 | 182 | 0 | -90 | 30 |
| T37-23-PP-004 | NE1 | T37 | 640821 | 6758039 | 182 | 0 | -90 | 27 |
| T37-23-PP-005 | NE1 | T37 | 640850 | 6758072 | 184 | 0 | -90 | 30 |
| T37-23-PP-006 | NE1 | T37 | 640882 | 6758104 | 183 | 0 | -90 | 33 |
| T37-23-PP-007 | NE1 | T37 | 640700 | 6757938 | 182 | 0 | -90 | 33 |
| X18-23-PP-003 | NE2 | X18 | 650113 | 6764586 | 181 | 0 | -90 | 57 |
| X18-23-PP-008 | NE3 | X19 | 650089 | 6764561 | 181 | 0 | -90 | 21 |
| X49-23-PP-001 | N1 | X49 | 636108 | 6754449 | 181 | 0 | -90 | 38 |
| X49-23-PP-002 | N1 | X49 | 636103 | 6754468 | 181 | 0 | -90 | 29 |
| X49-23-PP-003 | N1 | X49 | 636093 | 6754480 | 181 | 0 | -90 | 38 |
| X49-23-PP-004 | N1 | X49 | 636058 | 6754469 | 181 | 0 | -90 | 26 |
| X49-23-PP-005 | N1 | X49 | 636065 | 6754458 | 181 | 0 | -90 | 41 |
| X49-23-PP-006 | N1 | X49 | 636072 | 6754435 | 181 | 0 | -90 | 26 |
| X49-23-PP-007 | N1 | X49 | 636074 | 6754408 | 181 | 0 | -90 | 38 |
| X49-23-PP-008 | N1 | X49 | 636038 | 6754391 | 181 | 0 | -90 | 41 |
| X49-23-PP-009 | N1 | X49 | 636025 | 6754374 | 181 | 0 | -90 | 23 |
| X49-23-PP-010 | N1 | X49 | 636000 | 6754333 | 181 | 0 | -90 | 41 |
| X49-23-PP-011 | N1 | X49 | 635971 | 6754307 | 181 | 0 | -90 | 41 |
| X49-23-PP-012 | N1 | X49 | 635941 | 6754314 | 182 | 0 | -90 | 41 |
| X49-23-PP-013 | N1 | X49 | 635932 | 6754332 | 181 | 0 | -90 | 29 |
| X49-23-PP-014 | N1 | X49 | 635938 | 6754354 | 181 | 0 | -90 | 41 |
| X49-23-PP-015 | N1 | X49 | 635855 | 6754278 | 181 | 0 | -90 | 29 |
| X49-23-PP-016 | N1 | X49 | 635697 | 6754266 | 181 | 0 | -90 | 29 |
| X49-23-PP-017 | N1 | X49 | 635679 | 6754231 | 181 | 0 | -90 | 32 |
| X49-23-PP-018 | N1 | X49 | 635673 | 6754215 | 181 | 0 | -90 | 41 |
| X49-23-PP-019 | N1 | X49 | 635653 | 6754186 | 181 | 0 | -90 | 32 |
| X49-23-PP-020 | N1 | X49 | 635633 | 6754228 | 181 | 0 | -90 | 26 |
| X49-23-PP-021 | N1 | X49 | 635593 | 6754227 | 181 | 0 | -90 | 32 |
| X49-23-PP-022 | N1 | X49 | 635616 | 6754181 | 181 | 0 | -90 | 32 |
| X49-23-PP-023 | N1 | X49 | 635618 | 6754164 | 181 | 0 | -90 | 41 |
| X49-23-PP-024 | N1 | X49 | 635591 | 6754148 | 181 | 0 | -90 | 32 |
| X49-23-PP-025 | N1 | X49 | 635475 | 6754108 | 181 | 0 | -90 | 26 |
| X49-23-PP-026 | N1 | X49 | 635448 | 6754084 | 182 | 0 | -90 | 29 |
| X49-23-PP-027 | N1 | X49 | 635435 | 6754111 | 182 | 0 | -90 | 29 |
| X49-23-PP-028 | N1 | X49 | 635367 | 6754143 | 182 | 0 | -90 | 38 |
| X49-23-PP-029 | N1 | X49 | 635358 | 6754159 | 182 | 0 | -90 | 38 |
| X49-23-PP-030 | N1 | X49 | 635326 | 6754154 | 183 | 0 | -90 | 38 |
| X49-23-PP-031 | N1 | X49 | 635336 | 6754120 | 182 | 0 | -90 | 20 |
| X59-23-PP-001 | N1 | X59 | 631479 | 6752139 | 178 | 0 | -90 | 58 |
| X59-23-PP-002 | N1 | X59 | 631436 | 6752117 | 178 | 0 | -90 | 58 |
| X59-23-PP-003 | N1 | X59 | 631500 | 6752094 | 178 | 0 | -90 | 58 |
| X59-23-PP-004 | N1 | X59 | 631541 | 6752092 | 178 | 0 | -90 | 62 |
| X59-23-PP-005 | N1 | X59 | 631519 | 6752056 | 178 | 0 | -90 | 61 |
| X59-23-PP-006 | N1 | X59 | 631605 | 6752072 | 178 | 0 | -90 | 46 |
| X59-23-PP-007 | N1 | X59 | 631658 | 6752040 | 179 | 0 | -90 | 40 |
| X59-23-PP-008 | N1 | X59 | 631602 | 6752046 | 178 | 0 | -90 | 40 |
| X59-23-PP-009 | N1 | X59 | 631572 | 6752039 | 178 | 0 | -90 | 58 |
| X59-23-PP-010 | N1 | X59 | 631546 | 6752026 | 178 | 0 | -90 | 55 |
| X59-23-PP-011 | N1 | X59 | 631498 | 6752039 | 178 | 0 | -90 | 61 |
| X59-23-PP-012 | N1 | X59 | 631524 | 6751996 | 179 | 0 | -90 | 55 |
| X59-23-PP-013 | N1 | X59 | 631510 | 6751971 | 179 | 0 | -90 | 58 |
| X59-23-PP-014 | N1 | X59 | 631497 | 6751944 | 179 | 0 | -90 | 37 |
| X59-23-PP-015 | N1 | X59 | 631458 | 6751973 | 179 | 0 | -90 | 58 |
| X59-23-PP-016 | N1 | X59 | 631471 | 6751930 | 179 | 0 | -90 | 52 |
| X59-23-PP-017 | N1 | X59 | 631458 | 6751904 | 179 | 0 | -90 | 58 |
| X60-23-PP-001 | N1 | X60 | 631373 | 6751833 | 179 | 0 | -90 | 50 |
| X60-23-PP-002 | N1 | X60 | 631328 | 6751849 | 179 | 0 | -90 | 41 |
| X60-23-PP-003 | N1 | X60 | 631350 | 6751795 | 179 | 0 | -90 | 50 |
| X60-23-PP-004 | N1 | X60 | 631318 | 6751808 | 179 | 0 | -90 | 56 |
| X60-23-PP-005 | N1 | X60 | 631298 | 6751773 | 179 | 0 | -90 | 50 |
| X60-23-PP-006 | N1 | X60 | 631270 | 6751825 | 179 | 0 | -90 | 51 |
| X60-23-PP-007 | N1 | X60 | 631238 | 6751832 | 179 | 0 | -90 | 50 |
| X60-23-PP-008 | N1 | X60 | 631195 | 6751860 | 179 | 0 | -90 | 38 |
| X60-23-PP-009 | N1 | X60 | 631215 | 6751808 | 179 | 0 | -90 | 39 |
| X60-23-PP-010 | N1 | X60 | 631241 | 6751751 | 179 | 0 | -90 | 50 |
| X60-23-PP-011 | N1 | X60 | 631145 | 6751731 | 179 | 0 | -90 | 35 |
| X61-23-PP-001 | N1 | X61 | 630345 | 6751380 | 179 | 0 | -90 | 55 |
| X61-23-PP-002 | N1 | X61 | 630338 | 6751414 | 178 | 0 | -90 | 53 |
| X64-23-PP-001 | N1 | X64 | 628897 | 6750521 | 178 | 0 | -90 | 61 |
| X64-23-PP-002 | N1 | X64 | 628875 | 6750538 | 178 | 0 | -90 | 61 |
| X64-23-PP-003 | N1 | X64 | 628869 | 6750561 | 178 | 0 | -90 | 61 |
| X64-23-PP-004 | N1 | X64 | 628856 | 6750553 | 178 | 0 | -90 | 60 |
| X64-23-PP-005 | N1 | X64 | 628784 | 6750513 | 178 | 0 | -90 | 61 |
| X64-23-PP-006 | N1 | X64 | 628775 | 6750528 | 178 | 0 | -90 | 60 |
| X64-23-PP-007 | N1 | X64 | 628764 | 6750515 | 178 | 0 | -90 | 61 |
| X64-23-PP-008 | N1 | X64 | 628740 | 6750516 | 178 | 0 | -90 | 61 |
| X64-23-PP-009 | N1 | X64 | 628749 | 6750503 | 178 | 0 | -90 | 61 |
| X64-23-PP-010 | N1 | X64 | 628737 | 6750491 | 178 | 0 | -90 | 60 |
| X64-23-PP-011 | N1 | X64 | 628717 | 6750492 | 178 | 0 | -90 | 60 |
| X68-23-PP-003 | N1 | X68 | 627020 | 6749056 | 179 | 0 | -90 | 35 |
| X68-23-PP-005 | N1 | X68 | 627270 | 6749099 | 180 | 0 | -90 | 46 |
| X68-23-PP-006 | N1 | X68 | 627290 | 6749108 | 180 | 0 | -90 | 44 |
| X68-23-PP-007 | N1 | X68 | 627263 | 6749131 | 180 | 0 | -90 | 47 |
| X68-23-PP-008 | N1 | X68 | 627284 | 6749155 | 180 | 0 | -90 | 45 |
| X68-23-PP-009 | N1 | X68 | 627363 | 6749149 | 180 | 0 | -90 | 41 |
| X68-23-PP-010 | N1 | X68 | 627387 | 6749091 | 180 | 0 | -90 | 41 |
| X68-23-PP-011 | N1 | X68 | 627355 | 6749100 | 180 | 0 | -90 | 42 |
| X68-23-PP-012 | N1 | X68 | 627623 | 6749239 | 180 | 0 | -90 | 74 |
| X68-23-PP-013 | N1 | X68 | 627615 | 6749220 | 180 | 0 | -90 | 72 |
| X68-23-PP-014 | N1 | X68 | 627594 | 6749229 | 180 | 0 | -90 | 72 |
| X68-23-PP-015 | N1 | X68 | 627598 | 6749251 | 180 | 0 | -90 | 72 |
| X68-23-PP-016 | N1 | X68 | 627053 | 6749008 | 179 | 0 | -90 | 74 |
| Y55-23-PP-001 | N1 | Y55 | 632906 | 6752384 | 181 | 0 | -90 | 36.6 |
| Y55-23-PP-002 | N1 | Y55 | 633013 | 6752356 | 181 | 0 | -90 | 30.8 |
| Y55-23-PP-003 | N1 | Y55 | 633027 | 6752405 | 181 | 0 | -90 | 32 |
| Y55-23-PP-004 | N1 | Y55 | 632984 | 6752424 | 181 | 0 | -90 | 24 |
| Y55-23-PP-005 | N1 | Y55 | 633000 | 6752474 | 181 | 0 | -90 | 32 |
| Y55-23-PP-006 | N1 | Y55 | 633028 | 6752489 | 181 | 0 | -90 | 32 |
| Y55-23-PP-007 | N1 | Y55 | 633053 | 6752447 | 181 | 0 | -90 | 32 |
| Y55-23-PP-008 | N1 | Y55 | 633106 | 6752428 | 181 | 0 | -90 | 27 |
| Y55-23-PP-009 | N1 | Y55 | 633154 | 6752414 | 181 | 0 | -90 | 32 |
| Y55-23-PP-010 | N1 | Y55 | 633130 | 6752469 | 181 | 0 | -90 | 32 |
| Y55-23-PP-011 | N1 | Y55 | 633176 | 6752453 | 181 | 0 | -90 | 23 |
| Y55-23-PP-012 | N1 | Y55 | 633190 | 6752486 | 181 | 0 | -90 | 50 |
| Y55-23-PP-013 | N1 | Y55 | 633159 | 6752488 | 181 | 0 | -90 | 26 |
| Y55-23-PP-014 | N1 | Y55 | 633137 | 6752526 | 181 | 0 | -90 | 32 |
| Y57-23-PP-001 | N1 | Y57 | 634929 | 6752403 | 186 | 0 | -90 | 23 |
| Y57-23-PP-002 | N1 | Y57 | 634968 | 6752390 | 186 | 0 | -90 | 20 |
| Y57-23-PP-003 | N1 | Y57 | 634984 | 6752419 | 186 | 0 | -90 | 30 |
| Y57-23-PP-004 | N1 | Y57 | 635000 | 6752390 | 186 | 0 | -90 | 20 |
| Y57-23-PP-005 | N1 | Y57 | 635037 | 6752396 | 186 | 0 | -90 | 23 |
| Y57-23-PP-006 | N1 | Y57 | 635013 | 6752413 | 186 | 0 | -90 | 20 |
| Y57-23-PP-007 | N1 | Y57 | 635039 | 6752427 | 186 | 0 | -90 | 23 |
| Y57-23-PP-008 | N1 | Y57 | 635036 | 6752458 | 186 | 0 | -90 | 20 |
| Y58-23-PP-001 | N1 | Y58 | 633982 | 6751885 | 186 | 0 | -90 | 32 |
| Y58-23-PP-002 | N1 | Y58 | 633980 | 6751910 | 185 | 0 | -90 | 29 |
| Y58-23-PP-003 | N1 | Y58 | 633985 | 6751941 | 184 | 0 | -90 | 29 |
| Y58-23-PP-004 | N1 | Y58 | 633957 | 6751959 | 184 | 0 | -90 | 29 |
| Y58-23-PP-005 | N1 | Y58 | 633958 | 6751930 | 184 | 0 | -90 | 32 |
| Y58-23-PP-006 | N1 | Y58 | 633956 | 6751900 | 185 | 0 | -90 | 29 |
| Y58-23-PP-007 | N1 | Y58 | 633928 | 6751948 | 185 | 0 | -90 | 29 |
| Y62-23-PP-001 | N1 | Y62 | 629976 | 6751086 | 179 | 0 | -90 | 47 |
| Y62-23-PP-002 | N1 | Y62 | 629783 | 6751085 | 184 | 0 | -90 | 41 |
| Y62-23-PP-002B | N1 | Y62 | 629783 | 6751085 | 184 | 0 | -90 | 56 |
| Y62-23-PP-003 | N1 | Y62 | 629810 | 6751118 | 183 | 0 | -90 | 53 |
| Y68-23-PP-001 | N1 | Y68 | 628070 | 6749763 | 179 | 0 | -90 | 58 |
| Y68-23-PP-002 | N1 | Y68 | 628095 | 6749760 | 179 | 0 | -90 | 58 |
| Y68-23-PP-003 | N1 | Y68 | 628113 | 6749788 | 180 | 0 | -90 | 55 |
| Y68-23-PP-004 | N1 | Y68 | 628120 | 6749765 | 179 | 0 | -90 | 55 |
| Y68-23-PP-005 | N1 | Y68 | 628145 | 6749773 | 179 | 0 | -90 | 55 |
| Y68-23-PP-006 | N1 | Y68 | 628154 | 6749822 | 179 | 0 | -90 | 55 |
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space, more specifically copper and zinc. The Company is a joint venture partner with Appian Capital Advisory LLP for the advancement of one of Canada’s premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories, for which the 2022 PEA (as defined herein) has indicated an after-tax NPV of C$602 million and an IRR of 25%, based on long-term zinc price of US$1.37/lb and the current mineral resource estimates that are amenable to open pit and shallow underground mining. The current mineral resource estimate in the 2022 PEA consists 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 August 26, 2022 (with an effective date of July 30, 2022), which was prepared for Osisko Metals and PPML by representatives of BBA Engineering Inc., HydroRessources Inc., PLR Resources Inc. and WSP Canada Inc. (the “2022 PEA“). Please refer to the full text of the 2022 PEA, a copy of which is available on SEDAR (www.sedar.com) under the Osisko Metals’ issuer profile, for the assumptions, methodologies, qualifications and limitations described therein. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, with paved highway access, an electrical substation, as well as 100 kilometres of viable haulage roads.
In addition, the Company also acquired in July 2023, from Glencore Canada Corporation, a 100% interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Québec. The Company is currently focused on resource evaluation of the Mount Copper Expansion Project that hosts an Inferred Mineral Resource (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects) of 456Mt grading 0.31% Cu (see April 28, 2022 news release of Osisko Metals entitled “Osisko Metals Announces Maiden Resource at Gaspé Copper – Inferred Resource of 456Mt Grading 0.31% Copper”). Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
About Appian
Appian Capital Advisory LLP is a London-headquartered investment advisor to long-term value-focused private capital funds that invest solely in mining and mining-related companies.
Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Europe, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 6,700 employees. Appian has a global team of 81 experienced professionals with presences in London, Toronto, Vancouver, Montreal, New York, Lima, Belo Horizonte, Perth, Mexico City and Dubai. The Appian team, through its private capital funds, has a long history of successfully bringing mines through development and into production, having completed 9 mine builds in the last 6 years.
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9f868360-f2d5-4c4f-b2ec-f6fc2b3c626e
Posted January 16, 2024
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