7 October 2019
Osisko Metals Incorporated is pleased to announce that it has completed a staking initiative that will more than double its mineral claim holdings for the Pine Point Project (the “Project.”) A total of 84 claims were staked, covering a surface area totaling 24,340 hectares and increasing the Project’s total surface area to 46,553 hectares or 465km2. Registration of the claims is pending (see Claim Map.)
The staking initiative includes mineral rights in the areas located adjacent to the Company’s existing mineral claims and leases in the central portion of the Pine Point Mining Camp where Cominco Limited mined for 25 years. The additional staked claims cover adjacent areas with excellent exploration potential, historical resources (reported by Cominco Limited,) and haulage road infrastructure. This significantly advances the property in that it is a larger, more contiguous project with better access and with more exploration and development upside.
Jeff Hussey, President & CEO comments, “We continue to meet very important project milestones with the acquisition of these additional claims. The latter will bring additional historical deposits into the fold with potential for conversion to NI43-101 Inferred Resources. As previously indicated, our next milestone is the release of an updated MRE for Pine Point in the fourth quarter of this year.”
Mineral Resource Estimate Update:
Currently, Osisko Metals is updating the 2018 Inferred Mineral Resource Estimate (“MRE”) that contained 38.4 Mt grading 4.58% zinc and 1.85% lead, making it the largest near-surface, pit-constrained zinc resource in Canada. A copy is available on SEDAR (www.sedar.com) under the Osisko Metals' issuer profile.