The Pine Point in-pit inferred MRE stands at 38.4 Mt grading 4.58 percent zinc and 1.85 percent lead.
Osisko Metals (TSXV:OM) has released an updated inferred mineral resource estimate for its Pine Point project near Hay River, in the Northwest Territories of Canada.
As highlighted in the press release:
- The Pine Point in-pit inferred MRE stands at 38.4 Mt grading 4.58 percent zinc and 1.85 percent lead (6.58 percent zinc equivalent) containing approximately 3.9 billion pounds of zinc and 1.6 billion pounds of lead.
- The pit constrained resource is based on optimized pit shells using a zinc price of US$1.10/lb and a lead price of US$0.90/lb. The lower cut-off grade varies across the property and ranges between 1.70 percent zinc equivalent and 2.00 percent zinc equivalent.
- The in-pit inferred MRE is divided into five geographic zones, each zone composed of individual deposits. The MRE incorporates 42 new pits and expansions of 2 historical pits.
- Pine Point’s main core (East Mill, Central and North Zones) contains approximately 23.4 million tonnes grading 6.30 percent zinc equivalent or 2.3 billion pounds of zinc and 0.9 billion pounds of lead.
- At the deposit scale the grade and tonnage show little variability at lower cut-off grades. The in-pit MRE is very robust and is relatively insensitive to metal prices.
- Osisko Metals will continue the infill campaign in early 2019 and begin a substantial exploration program in mid-2019 to test the excellent brownfield mineral potential along the entire 65km Pine Point trend. A new MRE is planned for H2 2019 with the aim of converting a significant proportion of current resources to the Indicated category.