7 December 2020
Osisko Metals Incorporated is pleased to provide results from the completed fall drill program at its 100% owned Pine Point Project, NWT. Assay results have been received from fifteen (15) exploration holes in the Central Zone that tested gravity gradiometry anomalies as well as areas of unconstrained mineralization around the current resource block model.
Exploration highlights (see Table 1 below and Central Zone Map) include:
•Drill hole OM100-20-001 intersected 8.60 metres grading 11.45% Zn and 3.57% Pb in in the northern portion of the L65 deposit to validate results from a historical hole. Results confirm well-developed Tabular mineralization in this location that is part of the current Central Zone Underground Mineral Resource. Further drilling will aim to expand and connect the mineralization present in this immediate area to a 900 meter-long open trend parallel to, and north of, the main portion of the L65 tabular deposit.
•Drill hole OM97-20-001 intersected 3.00 meters grading 2.01% Zn and 2.94% Pb in near-surface Tabular mineralization, located 1,300 metres west of the historic K77 deposit, in an area for which most historical holes have no reported assays. This hole suggests potential to expand mineralization towards the previously mined K77 deposit (historical production (Cominco): 0.5Mt grading 12.8% Pb+Zn).
•New Induced Polarization anomaly suggests Prismatic mineralization. A recently completed Induced Polarization (IP) geophysical survey has identified a distinct chargeability and resistivity target between the Main and North Trends measuring 250 metres long by 150 metres wide and extending from surface to an approximate depth of 200 metres. There is no previous drilling in this target. It exhibits characteristics similar to previous IP surveys done over known Prismatic deposits which are higher grade than Tabular deposits. Drill hole OM103-20-001, a stratigraphic hole drilled 260 metres to the south of the IP anomaly (before the survey was completed), intersected strong dolomitic alteration in the key Sulphur Point Formation, which is the primary host to all mineralization at Pine Point.