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Osisko Metals Inc.
Summary
| Project: | Pine Point | |
|---|---|---|
| Deposit: | Pine Point | |
| Location: | Canada | |
| Commodities: | Lead-Zinc | |
| Date: | 5/1/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 1-5-2018: Osisko Metals Inc. announces an Exploration/Drilling Update report for its Pine Point deposit at the Pine Point project. Drilling results incl. 5.53m @ 0.70% Pb, 10.80% Zn from 42.55m. MONTREAL, May 01, 2018 -- Osisko Metals Incorporated (the “C | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stanley Clemmer (Internal) | |
| ABSTRACT: | MONTREAL, May 01, 2018 -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB51) is pleased to announce assay results from the first 16 shallow drill holes of the 129-hole winter drill program at the Pine Point Project. Drill hole EM-18-PP-016 intersected 4.86% Zn and 0.61% Pb over 10.30 metres within the East Mill Zone, a 7.6-kilometre trend of tabular-style, near-surface mineralization that extends to the east from the electrical substation (see Osisko Metals website for additional geological background). Additional highlights are listed below in Table 1 and details are provided in Tables 2 & 3. These initial results are reported from a portion of the L-36 deposit, located in the East Mill Zone, which hosts unclassified historical resources reported by Cominco Ltd. (1988) of 2.8 M tonnes grading 3.3% zinc and 1.5% Pb. Near-surface zinc and lead sulphides were intersected in 14 of the 16 holes above 60 metre depths. (See 2018 Winter Drill Campaign East Mill Zone Map). Jeff Hussey, President and CEO of Osisko Metals, commented: “We are very pleased to announce our first results from the Pine Point Project, nine weeks after closing the transaction on February 23rd. These initial results are encouraging as these are economical grades for near-surface deposits that could potentially be mined by open pit methods. We look forward to more results in the coming weeks as we prepare for the summer drill program”. The objective of the 2018 drill program is to convert approximately 50 million tonnes of unclassified near-surface historical resources to NI43-101 Indicated Resources as quickly as possible in areas amenable to open pit extraction. The program consists of approximately 700 drill holes (129 now completed) in the central 20-kilometre long portion of the Pine Point Mining Camp (“PPMC”) that is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway. | |
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