Osisko Metals Incorporated (the “Company” or “Osisko Metals“) (TSX VENTURE:OM)(FRANKFURT:0B5) is pleased to announce the commencement of an aggressive 50,000 meter diamond drilling campaign in the world class Bathurst Mining Camp (the “BMC“) in New Brunswick, Canada. Drilling will focus on resource definition and expansion of the historical Gilmore South, Mount Fronsac, Flat Landing Brook …
Figure 1: Osisko Metals property holdings in the BMC. Historical deposits for Phase 1 drilling have red highlighted text. Shown resources are unclassified historical resources and not NI43-101 compliant. The Company is not treating these historical estimates as current mineral resources and they are shown for reference purpose only.
To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/fig1-1102042.jpg
The Company has continued to consolidate its position in the prolific Bathurst Mining Camp with the addition of 519 new claim units (11,343 Ha) since the acquisition of the Mt Fronsac property (see news release date July 6, 2017). Osisko Metals now controls over 51,647 hectares in the camp. This latest strategic claim acquisition covers the area east of the Brunswick Belt stratigraphy and the interpreted Brunswick Horizon near the Carboniferous contact (see complete land package in Figure 1). These land holdings cover a significant portion of key favorable stratigraphy throughout the BMC.
President Jeff Hussey commented “We recognize the tremendous exploration opportunity in the Bathurst Mining Camp. Our first step is to build a resource base from historical deposits. Secondly, we continue to consolidate areas of interest as we initiate an aggressive camp-scale exploration campaign. We are eager to define viable zinc resources through a drill-focused exploration strategy”.
Resource Expansion and Regional Exploration
Both the deposit scale and regional exploration programs will make use of the MiraGeoscience Common Earth Modelling technology that is an innovative, holistic, 3D modelling and target generation tool. This will generate a prioritized stream of high potential drill targets. This approach combines geological interpretation with geophysical and geochemical data sets that are merged into one common 3D-GIS (GOCAD) software platform to optimize drill targeting. Furthermore, this will lead toward the construction of the first 3D model of the entire BMC to identify new and untested mineralized VMS horizons.
The goal of these efforts is to quickly expand the Company’s resource base and to generate highly prospective brownfield and greenfield targets throughout the BMC.
About the Bathurst Mining Camp
The BMC is the third largest volcanogenic massive sulphide mining camp in the world, and it is well known for extensive zinc, lead, copper and silver mineralization as well as multiple deposits and base metal mines including the former Brunswick # 12 Mine that produced 137 million tonnes of ore grading 8.74% zinc, 3.44% lead, 0.37% copper and 102 g/t silver between 1964 and 2013.
About Osisko Metals
Osisko Metals is a Canadian base metal exploration and development company creating value in base metals with an emphasis on the zinc space. In 2017, the Company acquired over 50,000 hectares in the Bathurst Mining Camp (“BMC”). The objective is to develop a multi-deposit asset base that would feed a central concentrator. In parallel, Osisko Metals is monitoring several base metal oriented peers for projects hosting zinc, copper, and nickel for acquisition opportunities. In Québec, the Company acquired 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. Osisko Gold Royalties Ltd. (TSX/NYSE:OR) and Osisko Mining Inc. (TSX:OSK) are significant shareholders of the Company.
For further information on Osisko Metals, visit www.osiskometals.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This news release contains “forward‐looking information” within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. The information provided in this news release about the exploration and/or resource development projects, including new results from drill programs, the significance of assay results, potential mineralization, including the discovery of new mineralized zone, the potential to extend mineralization in any direction, the ability to complete any proposed exploration activities and the results of such activities, the continuity or extension of any mineralization and any other information herein that is not a historical fact, may all be forward-looking information. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information.
This forward-looking information is based on reasonable assumptions and estimates of management of the Company, at the time it was made, involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, among others, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; the ability of Company to complete further exploration activities, including drilling; property interests in the relevant projects; the ability of the Company to obtain required approvals and complete transactions on terms announced; the results of exploration activities; risks relating to mining activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-governmental actions. Although the forward-looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Company cannot guarantee shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward-looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Company nor any other person assumes responsibility for the accuracy and completeness of any such forward looking information. Company does not undertake, and assumes no obligation, to update or revise any such forward looking statements or forward-looking information contained herein to reflect new events or circumstances, except as may be required by law.
President & CEO
Osisko Metals Incorporated
Director, Investor Relations