Osisko Metals Incorporated (TSX-V: OM) (OTCQX: OMZNF) (FRANKFURT: 0B51) is pleased to support recently announced infrastructure initiatives, both in the United States and globally. The bipartisan milestone event in the United States is replicated across other nations, including the European Union which announced major infrastructure investments earlier this summer.
Zinc is an integral component of infrastructure spending through galvanization (i.e. corrosion resistance) of steel parts, which accounts for over 60% of zinc demand. With higher environmental and stringent sustainability criteria, average zinc usage is expected to increase across the construction, infrastructure and transport industry. Most of the newly announced funds will be directed towards industries where galvanization is required.
Robert Wares, Chairman and CEO, commented: “The passing of a major US$1.2 trillion-dollar bill designed to invest in public infrastructure by the United States congress is an important positive signal for the North American base metal industry. Zinc is a key component of sustainable, long-lived infrastructure such as bridges and roads and demand will be well supported by continued investment in the coming decade. Spot prices for zinc have remained buoyant throughout the year, staying above US$1.30/lb since last spring and defying market expectations of softening prices. We strongly believe elevated zinc prices will be maintained throughout the next decade.”
“Combined with new pledges announced at COP26, the time for governments to invest in public infrastructure alongside energy transition efforts is now. Osisko Metals is pleased to support these initiatives and the Pine Point project will be a key part of the mining’s industry response to these new challenges. Work at Pine Point is advancing on-time and on-budget and we look forward to releasing our updated PEA at the end of Q1 2022.”
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 and 100 kilometres of viable haulage roads already in place. Pine Point is one of the few significant undeveloped zinc assets with access to infrastructure, which will potentially produce one of the cleanest zinc concentrates globally.
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.