9 November 2020
Osisko Metals Incorporated is pleased to provide drill results from the current program at its 100% owned Pine Point Project, NWT. Assay results have been received from twenty-nine (29) exploration holes in the Central Zone, mostly in proximity to the O53 deposit area, that tested gravity gradiometry anomalies and areas of unconstrained mineralization around the current resource block model.
Exploration highlights include:
•Drill hole OM13-20-001 intersected 4.80 metres grading 7.25% Zn and 1.45% Pb. This hole intersected well-developed, near surface Tabular style mineralization that potentially extends mineralization 800 metres west of the current western limit of the O53 deposit and 665 metres west, along strike, from previously reported drill hole O53-20-PP-003 (8.45% Zn + 0.61% Pb over 3.00 metres; see news release dated October 5th, 2020 and O53 Area Map).
Osisko Metals believes the potential mineralization corridor to have a N-S width of approximately 60 metres. Further high priority drilling will be designed to test continuity of mineralization along the 800-metre strike length separating the O53 deposit and the OM13 target.
•Drill hole OM59-20-001 intersected 2.57 metres grading 2.51% Zn and 3.96% Pb on the edge of known historical Tabular mineralization and a gravity anomaly. It is open in this area for further exploration. An additional two holes drilled in the OM58 area, a gravity target, also intersected narrow widths of well-developed lead-zinc sulphides (Central Zone Surface Map).
•On the immediate margins of the O53 Deposit, eight additional drill holes intersected variable grade mineralization (2.0% to 17.4% Zn+Pb) over widths ranging between 0.28 to 17.42 metres, including O53-20-PP-008 that intersected 3.68% Zn + 0.06% Pb over 14.0 metres (O53 Area Map). Osisko Metals now believes the N-S width of O53 is well constrained and will focus on the western potential moving towards drill hole OM13-20-001.