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Osisko Metals Inc.
Summary
| Project: | Pine Point | |
|---|---|---|
| Deposit: | East Mill Zone | |
| Location: | Canada | |
| Commodities: | Lead-Zinc | |
| Date: | 1/30/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 30-1-2019: Osisko Metals Inc. announces an Exploration/Drilling Update report for its East Mill Zone deposit at the Pine Point project. Drilling results incl. 12.74m @ 8.07% Zn, 6.80% Pb from 16.31m. MONTREAL, Jan. 30, 2019 -- Osisko Metals Incorporated ( | |
| Resources: | (Resource, Inf.): 38.4Mt @ 4.58% Zn, 1.85% Pb | |
| CP/QP: | [Overall Report]: Stanley G. Clemmer (Internal) | |
| ABSTRACT: | MONTREAL, Jan. 30, 2019 -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; FRANKFURT: OB51) is pleased to announce assay results from the latest 7 drill holes completed in the East Mill Zone (“EMZ”) within the Pine Point Mining Camp (“PPMC”). Drill hole EM-18-PP-151 intersected 8.07% Zinc and 6.80% Lead over 12.74 metres within the modeled K-32 pit boundaries. Drill hole EM-18-PP-392 intersected 10.90% Zinc and 4.28% Lead over 6.00 metres at the west edge of the modeled K-32 pit boundary, and hole EM-18-PP-182 intersected 11.78% Zinc and 6.01% Lead over 4.35 metres in an area 130 metres to the south of the currently modeled pit boundary, near historical Cominco drilling. (See 2018-2019 Drill Campaign: East Mill Zone - K-32 pit). The pit number refers to modeled resources pits included in the recently filed NI43-101 Technical Report filed on SEDAR. All intersections are within flat lying tabular-style deposits and all intercepts are located above 30 metre depths. The Company would also like to issue a correction to the 2019 Corporate Outlook press release issued January 15th. The words “pit-constrained” were omitted from the President’s quote, and should have read: “Osisko Metals is now the only junior in the Americas with a pit-constrained Inferred Resource of 5.5 billion pounds of zinc and lead that has excellent expansion potential.” Jeff Hussey, President & CEO of Osisko Metals, commented: “It is also worth pointing out that the high grade, large tonnage, near surface mineralization at Pine Point is unique among its peer group, as nearly 90% of zinc mine production1 globally is sourced from underground mines, underscoring the rarity of open pit zinc assets like Pine Point. Furthermore, with low cost hydro-electric power available on site and a rail head located within 60km, Osisko Metals is well positioned to rapidly advance Pine Point. While we announced our maiden resource for the Pine Point project in December 2018, we are still receiving assay results from the 2018 definition drilling campaign, totalling over 40,000 meters of additional drilling completed following the cutoff date for the recently filed 2018 Mineral Resource Estimate (“MRE”). These results will be incorporated into the next MRE planned for 2019. The drilling reported today continues to expand and confirm Pine Point’s high grade, near surface mineralization.” The newly modeled K-32 pit, located within the East Mill Zone currently measures 300 metres in strike length with an average mineralized north-south width of approximately 130 metres. It is located 4.5 kilometres east of the electrical sub-station along a main haul road. Reported NI43-101 Inferred Mineral Resources for the East Mill Zone total 5.5 million tonnes of 3.76% Zinc and 1.30% Lead. | |
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