The Prospector News

Osisko Metals Reports Additional Drill Results From Pine Point With Up to 10 Metres Grading 8.71% Zn + Pb

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Metals Reports Additional Drill Results From Pine Point With Up to 10 Metres Grading 8.71% Zn + Pb

 

 

 

 

 

Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) is pleased to announce additional 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 J68 and K68 deposits in the C1 Area of the Central Zone.

 

Results from the K68 deposit indicate a new extension of tabular-style mineralization towards the east of the known deposit boundaries with localized increases in grade and thickness suggesting that there is exploration potential for new prismatic-style deposits in proximity to the C1 Area. Drilling at J68 defined the limits of that prismatic deposit.

 

These results are positive as the Company prepares for the Q1 2024 exploration program. Currently there are geophysical surveys underway evaluating target areas for prismatic-style mineralization that were outlined over the summer months by the Joint Venture Exploration Team.

 

Highlights of Drill Hole Assay Composites:

  • K68-23-PP-001: 10.00 metres grading, 7.20% Zn and 0.73% Pb (7.93 Zn+Pb)
  • K68-23-PP-009: 6.00 metres grading, 11.37% Zn and 0.54% Pb (11.91 Zn+Pb)
  • K68-23-PP-020: 8.00 metres grading, 9.44% Zn and 1.20% Pb (10.63 Zn+Pb)
  • K68-23-PP-030: 10.00 metres grading, 5.20% Zn and 3.50 %Pb (8.71 Zn+Pb)
  • K68-23-PP-064B: 7.00 metres grading, 9.97% Zn and 4.49% Pb (14.45 Zn+Pb)

 

Drilling was conducted as part of the PPML 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.

 

The Company would like to announce that as of September, Mr. Robin Adair has stepped down as Vice President of Exploration of Osisko Metals and has transitioned to Senior Technical Advisor for the PPML Joint Venture (holder of the Pine Point Project). The Company appreciates Mr. Adair’s significant contribution over the years, and we will continue to collaborate and benefit from his knowledge in his new role with PPML.

 

Table 1: Drill Hole Assay Composites.

 

Hole Name Zone Deposit From To Drill Width True Width Zn Pb Zn+Pb
(m) (m) (m) (m) % % %
J68-23-PP-002 C1 J68 60.00 61.00 1.00 1.00 2.65 0.26 2.91
J68-23-PP-006 C1 J68 24.00 27.00 3.00 3.00 3.13 0.90 4.03
and C1 J68 33.00 35.00 2.00 2.00 2.41 0.33 2.73
J68-23-PP-007 C1 J68 18.00 20.00 2.00 2.00 2.17 0.60 2.77
and C1 J68 42.50 44.00 1.50 1.50 3.00 0.11 3.11
K68-23-PP-001 C1 K68 56.00 66.00 10.00 9.99 7.20 0.73 7.93
K68-23-PP-002 C1 K68 59.00 62.00 3.00 2.99 1.39 1.33 2.71
and C1 K68 66.00 67.00 1.00 1.00 2.01 1.84 3.85
K68-23-PP-003 C1 K68 51.00 52.00 1.00 1.00 6.69 0.51 7.20
and C1 K68 61.00 65.00 4.00 4.00 3.01 0.20 3.20
K68-23-PP-004 C1 K68 62.00 63.00 1.00 1.00 5.06 1.79 6.86
and C1 K68 65.00 66.00 1.00 1.00 3.70 0.12 3.82
K68-23-PP-006 C1 K68 59.00 65.00 6.00 5.99 2.23 1.15 3.37
K68-23-PP-007 C1 K68 59.00 64.00 5.00 4.99 4.55 0.15 4.69
K68-23-PP-008 C1 K68 61.00 63.00 2.00 2.00 4.24 0.85 5.09
K68-23-PP-009 C1 K68 60.00 66.00 6.00 5.99 11.37 0.54 11.91
K68-23-PP-010 C1 K68 56.50 57.00 0.50 0.50 1.79 1.03 2.83
K68-23-PP-011 C1 K68 64.00 67.00 3.00 3.00 6.70 0.67 7.38
K68-23-PP-014 C1 K68 60.00 65.00 5.00 4.99 5.92 0.98 6.91
K68-23-PP-017 C1 K68 58.00 62.00 4.00 3.99 1.57 1.77 3.34
K68-23-PP-018 C1 K68 57.00 65.00 8.00 7.98 5.13 0.73 5.86
K68-23-PP-019 C1 K68 68.00 69.00 1.00 1.00 1.58 1.25 2.83
K68-23-PP-020 C1 K68 54.00 62.00 8.00 7.99 9.44 1.20 10.63
and C1 K68 64.00 67.00 3.00 3.00 5.46 1.35 6.81
K68-23-PP-021 C1 K68 58.00 59.00 1.00 1.00 2.07 0.09 2.16
and C1 K68 61.00 62.00 1.00 1.00 1.84 0.25 2.08
and C1 K68 65.00 67.00 2.00 2.00 7.77 0.34 8.11
K68-23-PP-022 C1 K68 60.00 65.00 5.00 4.99 4.88 0.22 5.10
K68-23-PP-024 C1 K68 62.00 63.00 1.00 1.00 1.83 0.43 2.26
K68-23-PP-025 C1 K68 56.00 57.00 1.00 1.00 2.04 0.18 2.22
and C1 K68 59.00 67.00 8.00 7.99 4.24 0.50 4.74
K68-23-PP-026 C1 K68 57.00 63.00 6.00 5.99 4.17 1.20 5.37
K68-23-PP-026 C1 K68 67.00 71.00 4.00 3.99 6.86 0.43 7.29
K68-23-PP-028 C1 K68 54.00 58.00 4.00 3.99 10.11 0.92 11.03
and C1 K68 60.00 62.00 2.00 2.00 2.01 0.17 2.19
K68-23-PP-029 C1 K68 65.00 66.00 1.00 1.00 2.66 0.08 2.74
K68-23-PP-030 C1 K68 50.00 60.00 10.00 9.99 5.20 3.50 8.71
and C1 K68 62.00 64.00 2.00 2.00 5.64 0.32 5.96
K68-23-PP-031 C1 K68 57.00 58.00 1.00 1.00 1.98 0.34 2.32
K68-23-PP-033 C1 K68 66.00 70.00 4.00 3.99 2.31 1.43 3.74
K68-23-PP-034 C1 K68 64.00 65.00 1.00 1.00 5.45 0.46 5.91
K68-23-PP-035 C1 K68 52.00 59.00 7.00 6.99 3.71 0.45 4.16
K68-23-PP-038 C1 K68 53.00 56.00 3.00 3.00 4.31 7.27 11.59
K68-23-PP-039 C1 K68 61.00 62.00 1.00 1.00 4.58 2.37 6.95
K68-23-PP-040 C1 K68 53.00 54.00 1.00 1.00 2.21 0.37 2.58
K68-23-PP-041 C1 K68 48.00 52.00 4.00 4.00 3.27 0.22 3.49
and C1 K68 56.00 61.00 5.00 5.00 3.84 0.71 4.55
K68-23-PP-042 C1 K68 56.00 57.00 1.00 1.00 1.93 0.53 2.46
and C1 K68 63.56 65.00 1.44 1.44 3.17 0.46 3.63
K68-23-PP-044B C1 K68 57.00 59.00 2.00 2.00 1.95 0.57 2.52
and C1 K68 61.00 62.00 1.00 1.00 2.10 0.02 2.12
K68-23-PP-045 C1 K68 59.00 60.00 1.00 1.00 1.94 0.33 2.27
K68-23-PP-046 C1 K68 59.00 61.00 2.00 1.99 4.13 0.06 4.19
and C1 K68 67.00 68.00 1.00 1.00 3.30 0.19 3.49
K68-23-PP-048 C1 K68 58.00 59.00 1.00 1.00 1.93 0.13 2.05
and C1 K68 63.00 65.00 2.00 2.00 3.33 0.04 3.37
K68-23-PP-049 C1 K68 59.00 60.00 1.00 1.00 1.94 0.64 2.58
K68-23-PP-050 C1 K68 51.00 54.00 3.00 3.00 1.55 0.41 1.96
K68-23-PP-052 C1 K68 59.00 60.00 1.00 1.00 7.10 0.69 7.79
K68-23-PP-053 C1 K68 59.00 60.00 1.00 1.00 2.22 0.03 2.25
K68-23-PP-054 C1 K68 57.15 60.00 2.85 2.85 4.99 0.30 5.29
and C1 K68 62.00 64.00 2.00 2.00 9.69 7.69 17.37
K68-23-PP-055 C1 K68 61.00 66.00 5.00 4.99 3.93 0.22 4.15
K68-23-PP-056 C1 K68 61.00 66.00 5.00 4.99 14.92 4.31 19.23
K68-23-PP-057 C1 K68 66.00 69.00 3.00 2.99 17.18 19.71 36.89
K68-23-PP-058 C1 K68 64.00 68.00 4.00 3.99 8.90 1.76 10.66
K68-23-PP-060 C1 K68 53.00 54.00 1.00 1.00 1.95 0.06 2.00
and C1 K68 56.00 61.00 5.00 5.00 2.69 0.61 3.30
K68-23-PP-061 C1 K68 63.00 64.00 1.00 1.00 3.02 1.50 4.52
K68-23-PP-062 C1 K68 62.00 63.00 1.00 1.00 3.68 1.08 4.75
K68-23-PP-063 C1 K68 59.00 67.00 8.00 7.98 4.31 0.37 4.68
K68-23-PP-063B C1 K68 60.00 68.00 8.00 7.99 3.53 0.52 4.06
K68-23-PP-064 C1 K68 57.00 58.00 1.00 1.00 3.19 0.06 3.25
and C1 K68 63.00 68.00 5.00 4.99 10.84 1.43 12.27
K68-23-PP-064B C1 K68 63.00 70.00 7.00 6.99 9.97 4.49 14.45
K68-23-PP-065 C1 K68 54.00 65.00 11.00 10.99 4.96 0.71 5.67
K68-23-PP-066 C1 K68 61.00 65.00 4.00 3.99 6.13 0.22 6.36
K68-23-PP-068 C1 K68 62.00 67.00 5.00 4.99 5.53 1.43 6.97
K68-23-PP-069 C1 K68 59.00 66.00 7.00 6.99 5.36 0.48 5.85
and C1 K68 68.00 70.00 2.00 2.00 3.53 0.35 3.88
K68-23-PP-070 C1 K68 56.00 59.00 3.00 2.99 3.92 0.09 4.01
and C1 K68 62.00 64.00 2.00 2.00 3.97 0.33 4.31
K68-23-PP-071 C1 K68 64.00 65.00 1.00 1.00 1.78 0.23 2.01
K68-23-PP-072 C1 K68 59.00 62.00 3.00 3.00 5.41 1.74 7.15
K68-23-PP-073 C1 K68 56.00 61.00 5.00 5.00 5.84 2.06 7.90

 

Drill holes not reported in this table with a collar location tabulated in Table 2 contained no significant assay results.

 

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 Elev (m) Azimuth Dip Length (m)
J68-23-PP-001 C1 J68 627313 6744288 211 0 -90 29
J68-23-PP-001B C1 J68 627313 6744288 211 0 -90 62
J68-23-PP-002 C1 J68 627262 6744258 211 0 -90 65
J68-23-PP-003 C1 J68 627291 6744250 211 0 -90 65
J68-23-PP-004 C1 J68 627263 6744212 211 0 -90 68
J68-23-PP-005 C1 J68 627234 6744217 211 0 -90 65
J68-23-PP-006 C1 J68 627185 6744088 210 0 -90 77
J68-23-PP-007 C1 J68 627222 6744042 211 0 -90 53
K68-23-PP-001 C1 K68 628073 6743959 213 0 -90 68
K68-23-PP-002 C1 K68 628046 6743975 213 0 -90 68
K68-23-PP-003 C1 K68 628045 6743941 213 0 -90 72
K68-23-PP-004 C1 K68 628037 6743911 213 0 -90 71
K68-23-PP-005 C1 K68 628012 6743894 213 0 -90 71
K68-23-PP-006 C1 K68 628014 6743931 213 0 -90 68
K68-23-PP-007 C1 K68 628010 6743960 213 0 -90 68
K68-23-PP-008 C1 K68 627996 6743988 213 0 -90 68
K68-23-PP-009 C1 K68 627967 6743973 213 0 -90 68
K68-23-PP-010 C1 K68 627981 6743944 213 0 -90 71
K68-23-PP-011 C1 K68 627983 6743912 213 0 -90 71
K68-23-PP-012 C1 K68 627982 6743884 213 0 -90 71
K68-23-PP-013 C1 K68 627951 6743900 213 0 -90 71
K68-23-PP-014 C1 K68 627951 6743930 213 0 -90 68
K68-23-PP-015 C1 K68 627935 6743989 213 0 -90 65
K68-23-PP-016 C1 K68 627902 6743979 212 0 -90 65
K68-23-PP-017 C1 K68 627909 6743949 213 0 -90 68
K68-23-PP-018 C1 K68 627919 6743921 213 0 -90 68
K68-23-PP-019 C1 K68 627923 6743892 213 0 -90 74
K68-23-PP-020 C1 K68 627889 6743910 213 0 -90 71
K68-23-PP-021 C1 K68 627861 6743898 213 0 -90 74
K68-23-PP-022 C1 K68 627849 6743924 213 0 -90 71
K68-23-PP-023 C1 K68 627872 6743970 213 0 -90 65
K68-23-PP-024 C1 K68 627847 6743953 213 0 -90 68
K68-23-PP-025 C1 K68 627803 6743866 213 0 -90 74
K68-23-PP-026 C1 K68 627797 6743895 213 0 -90 71
K68-23-PP-027 C1 K68 627789 6743924 212 0 -90 68
K68-23-PP-028 C1 K68 627769 6743943 212 0 -90 62
K68-23-PP-029 C1 K68 627761 6743909 212 0 -90 68
K68-23-PP-030 C1 K68 627737 6743894 212 0 -90 65
K68-23-PP-031 C1 K68 627772 6743852 213 0 -90 71
K68-23-PP-032 C1 K68 627745 6743834 213 0 -90 68
K68-23-PP-033 C1 K68 627741 6743866 212 0 -90 74
K68-23-PP-034 C1 K68 627709 6743882 212 0 -90 65
K68-23-PP-035 C1 K68 627709 6743915 212 0 -90 59
K68-23-PP-036 C1 K68 627735 6743957 212 0 -90 56
K68-23-PP-037 C1 K68 627716 6743945 212 0 -90 59
K68-23-PP-038 C1 K68 627678 6743969 212 0 -90 59
K68-23-PP-039 C1 K68 627679 6743935 212 0 -90 62
K68-23-PP-040 C1 K68 627650 6743919 212 0 -90 63
K68-23-PP-041 C1 K68 627658 6743888 212 0 -90 63
K68-23-PP-042 C1 K68 627686 6743871 212 0 -90 65
K68-23-PP-043 C1 K68 627689 6743832 212 0 -90 72
K68-23-PP-044B C1 K68 627662 6743855 212 0 -90 80
K68-23-PP-045 C1 K68 627636 6743837 212 0 -90 66
K68-23-PP-046 C1 K68 627609 6743816 212 0 -90 72
K68-23-PP-047 C1 K68 627609 6743854 212 0 -90 69
K68-23-PP-048 C1 K68 627623 6743901 212 0 -90 68
K68-23-PP-049 C1 K68 627628 6743945 212 0 -90 65
K68-23-PP-050 C1 K68 627631 6743978 212 0 -90 62
K68-23-PP-051 C1 K68 627593 6744001 211 0 -90 68
K68-23-PP-052 C1 K68 627601 6743969 211 0 -90 65
K68-23-PP-053 C1 K68 627587 6743948 211 0 -90 65
K68-23-PP-054 C1 K68 627545 6743966 211 0 -90 65
K68-23-PP-055 C1 K68 627552 6743921 211 0 -90 70
K68-23-PP-056 C1 K68 627580 6743910 211 0 -90 71
K68-23-PP-057 C1 K68 627577 6743883 211 0 -90 74
K68-23-PP-058 C1 K68 627593 6743879 211 0 -90 71
K68-23-PP-059 C1 K68 627560 6743859 211 0 -90 68
K68-23-PP-060 C1 K68 627553 6743828 212 0 -90 65
K68-23-PP-061 C1 K68 627575 6743807 212 0 -90 66
K68-23-PP-062 C1 K68 627896 6743878 213 0 -90 68
K68-23-PP-063 C1 K68 628099 6743937 213 0 -90 68
K68-23-PP-063B C1 K68 628099 6743937 213 0 -90 92
K68-23-PP-064 C1 K68 628101 6743973 213 0 -90 68
K68-23-PP-064B C1 K68 628101 6743973 213 0 -90 92
K68-23-PP-065 C1 K68 627832 6743880 213 0 -90 80
K68-23-PP-066 C1 K68 628071 6743922 213 0 -90 92
K68-23-PP-067 C1 K68 628125 6743927 215 0 -90 95
K68-23-PP-068 C1 K68 628127 6743957 213 0 -90 95
K68-23-PP-069 C1 K68 628132 6743982 213 0 -90 80
K68-23-PP-070 C1 K68 628110 6743998 213 0 -90 80
K68-23-PP-071 C1 K68 628073 6743990 213 0 -90 74
K68-23-PP-072 C1 K68 628028 6744001 213 0 -90 77
K68-23-PP-073 C1 K68 627995 6744019 213 0 -90 77

 

 

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 6,300 employees. Appian has a global team of 65 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/838aa1fb-6f85-4f67-bf91-a698b0eaad1d

 

 

Posted November 13, 2023

Share this news article

MORE or "UNCATEGORIZED"


Silver Storm Announces Rosarios Mine Drill Results

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR),... READ MORE

May 27, 2024

McEwen Mining: Grey Fox Exploration Update Extending the Production Pipeline: Good Grades Near Surface, Potential at Depth

Assay Highlights: 24GF-1426: 586.7 g/t Au over 0.5 m (18.86 oz/t ... READ MORE

May 27, 2024

Hudbay Completes Upsized Bought Deal Equity Offering

Hudbay Minerals Inc. (TSX:HBM) (NYSE: HBM) is pleased to announc... READ MORE

May 24, 2024

PANTHER MINERALS CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT

Panther Minerals Inc. (CSE: PURR), is pleased to announce that t... READ MORE

May 24, 2024

SILVERCORP REPORTS ADJUSTED NET INCOME OF $39.3 MILLION, $0.22 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $91.6 MILLION FOR FISCAL 2024SILVERCORP REPORTS ADJUSTED NET INCOME OF $39.3 MILLION, $0.22 PER SHARE, AND CASH FLOW FROM OPERATIONS OF $91.6 MILLION FOR FISCAL 2024

Silvercorp Metals Inc.  (TSX: SVM) (NYSE American: SVM) reported... READ MORE

May 24, 2024

Copyright 2024 The Prospector News