5 October 2020
Osisko Metals Incorporated is pleased to provide initial results from the current drill program at its 100% owned Pine Point Project, NWT. Assay results have been received from four holes in the area of the O53 deposit (Central Zone) that were drilled to better define vertical extent of prismatic mineralization in the core of the deposit. Highlights include 17.50 metres grading 11.53% Zn and 2.52% Pb in drill hole O53-20-PP-001 and 28.80 metres grading 23.90% Zn and 6.24% Pb in drill hole O53-20-PP-012. The latter hole extends the high-grade prismatic mineralization approximately 10 metres below the currently modelled pit boundary in the immediate area of the hole. The O53 deposit has a strike length of 313 metres, an average width of 50 metres and maximum depth of 63 metres.
Table 1: Drill Composites in full release.
Drill hole O53-20-PP-003 also indicates the presence of tabular mineralization 135 metres to the west of the O53 deposit, well outside the boundaries of the current pit-constrained resource model (see O53 surface map), indicating potential for a new tabular deposit extending westward at shallow depths. DDH O53-20-PP-011 intersected narrow mineralization in a collapse structure on the southern fringe of O53.
Jeff Hussey, President and COO, commented: “We are particularly excited to announce today’s initial drill results, including impressive high-grade intersections from the O53 prismatic deposit as well as extension of mineralization, indicating new high-grade tabular mineralization, in drill hole O53-20-PP-003. We await further assays from other holes around O53. Visual estimates in the holes with pending assays confirms that mineralization remains open in the area. Regionally we have numerous targets defined around ten more deposits in the resource model that are open as well as stranded historical mineralized holes and geophysical targets. There is ample potential for new discoveries and continued expansion of resources across the entire Pine Point project.”