- Osisko Metals (OM) has intersected up to 17.95 per cent zinc at its Pine Point Project in the Northwest Territories
- Drill hole Z60-21-PP-006 also returned 10.7 m at 10.50 per cent Zn
- The results provide for the infill spacing required for the Z60 deposit to meet the indicated resource threshold
- Mineralization is open along strike and presents excellent exploration potential
- Osisko Metals is a Canadian exploration and development company creating value in the base-metal space
- Osisko Metals (OM) is unchanged trading at $0.385 per share
Osisko Metals (OM) has intersected up to 17.95 per cent zinc at its Pine Point Project in the Northwest Territories.
The results stem from the current infill and hydrogeological drill program on the project, specifically from the Z60 deposit in the North Trend.
Shallow mineralization was intersected between 18 and 37 m vertical depth. Highlights include:
- Drill hole Z60-21-PP-006: 10.7 m at 10.50 per cent Zn and 0.25 per cent Pb
- Drill hole Z60-21-PP-001: 4.5 m at 17.95 per cent Zn and 2.25 per cent Pb
Both holes surpassed expectations with local prismatic-style mineralization. The higher-grade prismatic-style intercepts and neighbouring tabular mineralization are associated with a fault trending south-west to north-east.
The results provide for the infill spacing required for the Z60 deposit to meet the indicated resource threshold as defined in the 2020 PEA.
Mineralization is open along strike and presents excellent exploration potential.
Drill hole composite highlights
Hole name | Area | Deposit | From (m) | To (m) | Width (m) | True width (m) | Zn (%) | Pb (%) | Zn+Pb (%) |
| Z60-21-PP-001 | North | Z60 | 22.50 | 27.00 | 4.50 | 4.50 | 17.96 | 2.25 | 20.21 |
| Z60-21-PP-002 | North | Z60 | 18.00 | 22.00 | 4.00 | 4.00 | 4.51 | 2.41 | 6.92 |
| Z60-21-PP-005 | North | Z60 | 22.00 | 25.00 | 3.00 | 3.00 | 5.05 | 1.07 | 6.12 |
| Z60-21-PP-006 | North | Z60 | 19.30 | 30.00 | 10.70 | 10.70 | 10.50 | 0.25 | 10.75 |
| Z60-21-PP-013 | North | Z60 | 25.21 | 29.40 | 4.19 | 4.19 | 10.38 | 1.27 | 11.65 |
| Z60-21-PP-014 | North | Z60 | 30.80 | 36.50 | 5.70 | 5.70 | 5.59 | 0.56 | 6.15 |
Hydrogeological program update
Osisko will release initial results from its hydrogeological testing program in the coming weeks. Testing continues and will include two holes from the Z60 deposit.
The current infill program includes 25 additional holes that will be lined with perforated PVC casing prior to flow tracing. Tracer tests on all holes slated for early fall will measure water flow and help to inform the modelling process.
Hydrogeological drill hole composites
Hole name | Area | Deposit | From (m) | To (m) | Width (m) | True width (m) | Zn (%) | Pb (%) | Zn+Pb (%) |
Z60-21-PP-001 | North | Z60 | 22.50 | 27.00 | 4.50 | 4.50 | 17.96 | 2.25 | 20.21 |
Z60-21-PP-002 | North | Z60 | 18.00 | 22.00 | 4.00 | 4.00 | 4.51 | 2.41 | 6.92 |
| Z60-21-PP-002 | North | Z60 | 27.00 | 29.00 | 2.00 | 2.00 | 5.09 | 1.23 | 6.32 |
| Z60-21-PP-003 | North | Z60 | 20.70 | 21.70 | 1.00 | 1.00 | 5.59 | 0.56 | 6.15 |
| Z60-21-PP-004 | North | Z60 | 21.20 | 25.20 | 4.00 | 4.00 | 2.43 | 0.24 | 2.66 |
| and | 33.00 | 34.00 | 1.00 | 1.00 | 7.70 | 1.08 | 8.78 | ||
Z60-21-PP-005 | North | Z60 | 22.00 | 25.00 | 3.00 | 3.00 | 5.05 | 1.07 | 6.12 |
| and | 27.00 | 30.00 | 3.00 | 3.00 | 3.19 | 0.56 | 3.75 | ||
Z60-21-PP-006 | North | Z60 | 19.30 | 30.00 | 10.70 | 10.70 | 10.50 | 0.25 | 10.75 |
| Z60-21-PP-007 | North | Z60 | 20.00 | 21.00 | 1.00 | 1.00 | 5.99 | 1.30 | 7.29 |
| Z60-21-PP-008 | North | Z60 | 21.50 | 23.50 | 2.00 | 2.00 | 6.01 | 0.38 | 6.39 |
| Z60-21-PP-009 | North | Z60 | 24.00 | 26.00 | 2.00 | 2.00 | 5.16 | 0.45 | 5.61 |
| Z60-21-PP-010 | North | Z60 | 28.00 | 29.00 | 1.00 | 1.00 | 5.89 | 1.26 | 7.15 |
| Z60-21-PP-011 | North | Z60 | 22.50 | 25.70 | 3.20 | 3.20 | 2.74 | 0.38 | 3.12 |
| Z60-21-PP-012 | North | Z60 | No significant values | ||||||
Z60-21-PP-013 | North | Z60 | 25.21 | 29.40 | 4.19 | 4.19 | 10.38 | 1.27 | 11.65 |
Z60-21-PP-014 | North | Z60 | 30.80 | 36.50 | 5.70 | 5.70 | 5.59 | 0.56 | 6.15 |
| Z60-21-PP-015 | North | Z60 | No significant values | ||||||
| Z60-21-PP-016 | North | Z60 | No significant values– hydro undercut |
Jeff Hussey, Osisko Metals’ President and COO, stated,
“The presence of locally occurring shallow prismatic-style mineralization adds more upside to our definition drilling program and I look forward to regular results now that drilling has resumed.
Regarding ongoing hydrogeological studies, we will be releasing our initial findings in October. We anticipate significantly reduced operating and sustaining capital expenditures for water management relative to the base case study concept used in the 2020 PEA.”
Osisko Metals is a Canadian exploration and development company creating value in the base-metal space.
Osisko Metals (OM) is unchanged trading at $0.385 per share as of 12:19 pm ET.
