Osisko Metals Intersects 10.7 Metres Grading 10.75% Zinc + Lead at Pine Point

MONTREAL, Sept. 27, 2021 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce initial results from the current in-fill and hydrogeological drill program at its Pine Point Project, located in the NWT.

Results are from the Z60 deposit in the North Trend (see Map 1 and Tables 1 & 2). Mineralization surpassed expectations with development of local prismatic-style mineralization in drill hole Z60-21-PP-001 and -006. The higher-grade prismatic-style intercepts and neighboring tabular mineralization are associated with a fault trending South-West to North-East. Other holes returned grades consistent with previous historical intercepts. Mineralization is open along strike and presents excellent exploration potential.

Shallow mineralization was intersected between 18 and 37 metres vertical depth. Highlights include:

• Drill hole Z60-21-PP-006 intersected 10.70 metres grading 10.50% Zn and 0.25% Pb (10.75% Zn+Pb) in a prismatic build-up of mineralization.

• Drill hole Z60-21-PP-001 intersected 4.5 metres grading 17.95% Zn and 2.25% Pb (20.20% Zn+Pb) in prismatic-style mineralization.

Results provide infill spacing required for the Z60 deposit to meet the Indicated Resource category threshold as defined in the 2020 PEA and confirmed historical data. Further assay results are pending.

Table 1: Drill Hole Composite Highlights.

Hole Name

 

Area

 

Deposit

 

From To Width True Width Zn Pb Zn+Pb

(m) (m) (m) (m) % % %

Z60-21-PP-001 North Z60 22.50 27.00 4.50 4.50 17.96 2.25 20.21

Z60-21-PP-002 North Z60 18.00 22.00 4.00 4.00 4.51 2.41 6.92

Z60-21-PP-005 North Z60 22.00 25.00 3.00 3.00 5.05 1.07 6.12

Z60-21-PP-006 North Z60 19.30 30.00 10.70 10.70 10.50 0.25 10.75

Z60-21-PP-013 North Z60 25.21 29.40 4.19 4.19 10.38 1.27 11.65

Z60-21-PP-014 North Z60 30.80 36.50 5.70 5.70 5.59 0.56 6.15

Jeff Hussey, President & COO, commented: “The presence of locally occurring shallow prismatic-style mineralization adds more upside to our definition drilling program and I look forward to regular results now that drilling has resumed. Regarding ongoing hydrogeological studies, we will be releasing our initial findings in October. We anticipate significantly reduced operating and sustaining capital expenditures for water management, relative to the base case study concept used in the 2020 PEA.”

Hydrogeological Program Update

Initial results from the hydrogeological testing program are expected to be released in the coming weeks. Testing continues and will include two holes from the Z60 deposit.

The current infill program includes approximately 25 additional holes that will be lined with perforated PVC casing that is installed prior to flow tracing. Tracer tests on all holes slated for early fall will measure water flow and that dataset will be added to the modelling process.

Table 2: Drill Hole Composites (*hydrogeological holes)