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Osisko Metals Inc.
Summary
| Project: | Pine Point | |
|---|---|---|
| Deposit: | Pine Point | |
| Location: | Canada | |
| Commodities: | Lead-Zinc | |
| Date: | 5/22/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 22-5-2019: Osisko Metals Inc. announces an Exploration/Drilling Update report for its Pine Point deposit at the Pine Point project. Drilling results incl. 13.11m @ 10.23% Zn, 9.19% Pb from 26.40m. Jeff Hussey, President & CEO of Osisko Metals, commented: | |
| Resources: | (Resource, Inf.): 38.4Mt @ 4.58% Zn, 1.85% Pb | |
| CP/QP: | [Overall Report]: Stanley G. Clemmer (Internal) | |
| ABSTRACT: | Jeff Hussey, President & CEO of Osisko Metals, commented: “With this last set of results in hand, we have completed our initial definition drilling campaign on the PPMC, which began in 2018. Drilling completed to date will be incorporated into the next Mineral Resource Estimate, slated for release in Q3, and we anticipate that most of the existing resources will be upgraded to the Indicated category. With the upcoming summer season, we will embark on a brownfield exploration program at Pine Point, focused on increasing the resource base and making new discoveries. We believe the property holds significant exploration upside at depth and along its 65km of strike length.” The objective of the 2018 – 2019 drill program was to convert the Cominco Ltd. unclassified near-surface historical resources into current mineral resources and to locally extend known zones of mineralization. An initial 2018 Inferred Mineral Resource of 38.4 Mt grading 4.58% zinc and 1.85% lead was calculated on historical drilling and using the initial 317 drill holes out of a total of 1031 holes that were drilled by Osisko Metals during the 2018 and 2019 campaign. These latest East Mill Zone drill holes were not included in this 2018 Inferred Mineral Resource Estimate. The East Mill Zone extends for 7.6 kilometres along strike, contains eight deposits, three of which were mined by Cominco, and are located 1.7 kilometres to the east of the existing electrical sub-station and former mill site along a main haulage road. Cominco produced 3,417,550 tonnes of 3.4% Zinc and 1.0% Lead from the L-37 pit, 262,170 tonnes of 2.8% Zinc and 1.1% Lead from the L-30 pit and 350,870 tonnes of 5.5% Zinc and 2.2% Lead from the underground M-40 mine. Reported NI43-101 Inferred Mineral Resources for the East Mill Zone total 5.50 million tonnes of 3.76% Zinc and 1.30% Lead. | |
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