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Osisko Metals Inc.
Summary
| Project: | Pine Point | |
|---|---|---|
| Deposit: | Pine Point | |
| Location: | Canada | |
| Commodities: | Lead-Zinc | |
| Date: | 5/15/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 15-5-2018: Osisko Metals Inc. announces an Exploration/Drilling Update report for its Pine Point deposit at the Pine Point project. Drilling results incl. 9.20m @ 0.92% Pb, 3.84% Zn from 37.3m. MONTREAL, May 15, 2018 -- Osisko Metals Incorporated (the “Co | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Stanley Clemmer (Internal) | |
| ABSTRACT: | MONTREAL, May 15, 2018 -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB51) is pleased to announce assay results from 5 shallow drill holes completed between the L-35 and L-36 deposit areas. Drill hole EM-18-PP-050 intersected 3.84% Zn and 0.92% Pb over 9.25 metres. All reported drill holes intersected near-surface mineralization above 60 metre depths, with multiple mineralized intercepts reported in all holes. The L35 deposit is located 0.6 kilometres northeast of L36 reported previously (news release May 1, 2018). Both deposits are within the East Mill Zone which is a 7.6-kilometre trend of tabular-style, near-surface, and roughly flat lying mineralization that extends towards the east from the electrical substation area (see Osisko Metals website for additional geological background). The core of the L35 deposit hosts unclassified historical resources reported by Cominco Ltd. (1988) of 0.2 M tonnes grading 6.9% zinc and 5.2% Pb. Jeff Hussey, President and CEO of Osisko Metals, commented: “The intercepts reported here have identified mineralization between the L-35 and L-36 zones. Our aggressive summer program is planned to confirm historical resources and to identify additional resources by investigating a connection between these and other historical deposits in the East Mill Zone. We eagerly anticipate the return to drilling as the spring thaw permits”. 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 access. Note regarding historical resource and Qualified Person The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that such work will allow conversion of such historical resources. Stanley G. Clemmer, P. Geo is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in the Northwest Territories and is Chief Geologist for Pine Point Mining Limited, a wholly owned subsidiary of Osisko Metals Limited. | |
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