Osisko Metals announces restart of drilling at Pine Point
27 August 2020
Osisko Metals Incorporated is pleased to announce that drilling activities at Pine Point have restarted. Following recommendations from the Northwest Territories Health and Social Services Authority, Osisko Metals reopened its camp to support planned permitting and environmental initiatives in July and has now increased its scope to include drilling.
Jeff Hussey, President and COO, commented: “At this time, we have one drill operational at Pine Point. However, with the multitude of targets and type of targets throughout the property, we will aim to increase our drill count in the fall while maintaining health and safety standards to minimize COVID-19 risk in the NWT. This initial phase of drilling will look to expand deposits modeled in the 2020 Mineral Resource Estimate (“2020 MRE”) released concurrent to our Preliminary Economic Assessment on June 15th, with focus on prismatic and high-grade tabular mineralization. Following the successful increase in tonnage in the East Mill Zone in the 2020 MRE, we sought similar targets across Pine Point. Our initial work highlighted 11 open deposits within the East Mill, Central and North Zones with widely spaced and high-grade intercepts located outside of deposit boundaries.”
Overview of Target Type at Pine Point
Osisko Metals has classified targets at Pine Point into three main categories. While all three are expected to be tested, Osisko Metals will be initially prioritizing targets from the first two categories in its upcoming drill campaign.
1.Resource Expansion: targeting expansion of mineralization where boundaries are poorly defined in existing deposits as described above.
2.Orphan Holes: targeting historical high-grade drill intercepts from the Cominco Ltd. era with little or no drill follow-up. A review of the historical database by Osisko Metals geologists over the previous 24 months have identified a number of drill intercepts where Cominco did not complete the testing of targets it successfully discovered.
3.Geophysical Anomalies: targeting gravity and IP anomalies identified following the 2019 airborne gravity gradiometry survey. Work completed to date has allowed Osisko Metals to better refine its targeting approach and will look to follow up anomalies in the coming months.