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Prospector News Podcast – Robert Wares “Summer Drill Program Should Help Osisko Metals Define its Initial Starter Pit”

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Prospector News Podcast – Robert Wares “Summer Drill Program Should Help Osisko Metals Define its Initial Starter Pit”

 

 

 

 

On Location in Quebec City at The Mining Event of the North” Michael Fox is joined by the President and CEO of Osisko Metals (TSX-V: OM) (OTCQX: OMZNF) (FRA: 0B51) Robert Wares. We discuss the significance of the recently updated mineral resource estimate for the Gaspe Copper project in Northern Quebec. The results have re-affirmed the company’s plans to look to an open pit mine design to bring the project to production. We discuss the next steps necessary to move the Gaspe project forward.

 

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 15.7 Mt grading 5.55% ZnEq of Indicated Mineral Resources and 47.2 Mt 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. 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 acquired in July 2023, from Glencore Canada Corporation, a 100% interest in the past-producing Gaspé Copper Project, located near Murdochville in the Gaspé peninsula of Québec. The Company is currently focused on resource evaluation of the Copper Mountain Deposit that hosts the updated Mineral Resource Estimate described herein. Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

 

Osisko Metals

Posted June 18, 2024

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