Osisko Metals Announces New Pine Point Drill Results With Up to 28.0 Metres Grading 10.9% Zinc and 8.0% Lead

Osisko Metals Announces New Pine Point Drill Results With Up to 28.0 Metres Grading 10.9% Zinc and 8.0% Lead

 

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce additional assay results from its 2023 drilling program at the Pine Point Project, located in the Northwest Territories, Canada. The reported results are from the P499 and O556 deposits, both prismatic-style deposits with associated tabular-style aprons in the West Zone ("WZ"). Results within the prismatic pipes defined by historical drilling were thick, high-grade intersections consistent with historical results. Drillhole P499-23-PP-004 extends the known prismatic style mineralization towards the West and remains open for further exploration.

 

Drilling was conducted as part of the Pine Point Joint Venture's larger 2023 definition drilling program that is designed to achieve an average drill spacing of approximately 30 metres within the current modelled mineral resources reported in the 2022 PEA. This drilling is intended to upgrade Mineral Resources presently classified as Inferred to the Indicated category and to potentially expand on known resources.

 

  Drill Hole Assay Composite Highlights:  

 
  • P499-23-PP-004: 25.00 metres, grading 5.62% Zn and 4.57% Pb (10.19% Zn+Pb)  
  •  
  • O556-23-PP-005: 28.00 metres, grading 10.91% Zn and 8.03% Pb (18.94% Zn+Pb)  
  •  
  • O556-23-PP-009: 35.00 metres, grading 6.20% Zn and 5.44% Pb (11.64% Zn+Pb)  
  •  

All mineralization occurs near surface between 81.00 and 181.00 metres vertical depth from surface and occurs as prismatic-style banded colloform style sphalerite and galena associated with intensely altered hydrothermal dolomite and limestone.

 

Robert Wares, CEO and Chairman of the Board, commented: "Drill results from Pine Point continue to meet or exceed expectations and we are looking forward to an updated resource estimate before year end. Now that the bulk of the definition program is done, we will focus on exploration drilling of new targets with a significant program slated for the upcoming fall/winter season, details to be provided in due time."

 

  Table 1: Drill Hole Assay Composites.

 
                                                                                                                                                                                                                                                                           
  Hole Name  
  Zone  
  Deposit  
  From    To    Drill Width    True Width    Zn    Pb    Zn+Pb  
  (m)    (m)    (m)    (m)    %    %    %  
P499-23-PP-001 W1 P499 107.70 111.00 3.30 3.30 2.40 1.14 3.54
and W1 P499 154.00 157.00 3.00 3.00 3.20 0.68 3.88
P499-23-PP-002 W1 P499 82.00 86.00 4.00 4.00 6.01 2.15 8.16
and W1 P499 98.00 119.00 21.00 21.00 5.71 1.51 7.22
and W1 P499 126.00 130.00 4.00 4.00 12.03 4.22 16.25
P499-23-PP-003 W1 P499 96.00 107.00 11.00 11.00 6.13 1.75 7.88
  P499-23-PP-004    W1    P499    81.00    106.00    25.00    25.00    5.62    4.57    10.19  
and W1 P499 125.00 127.00 2.00 2.00 8.40 0.04 8.44
and W1 P499 150.00 152.00 2.00 2.00 0.43 3.78 4.21
O556-23-PP-001 W1 O556 161.00 163.00 2.00 2.00 4.55 0.12 4.67
O556-23-PP-003 W1 O556 146.00 151.00 5.00 5.00 0.71 1.89 2.60
and W1 O556 154.00 165.00 11.00 11.00 4.03 1.34 5.37
and W1 O556 168.00 174.00 6.00 6.00 2.27 0.59 2.86
O556-23-PP-004 W1 O556 153.00 155.00 2.00 2.00 9.15 1.33 10.48
and W1 O556 180.00 181.00 1.00 1.00 10.95 7.36 18.31
O556-23-PP-005 W1 O556 123.00 126.00 3.00 3.00 3.46 0.18 3.64
  and    W1    O556    133.00    161.00    28.00    28.00    10.91    8.03    18.94  
and W1 O556 179.00 181.60 2.60 2.60 2.34 2.92 5.26
O556-23-PP-006 W1 O556 111.00 114.00 3.00 3.00 4.48 1.21 5.69
and W1 O556 151.00 159.00 8.00 8.00 2.30 1.66 3.96
O556-23-PP-007 W1 O556 109.00 110.00 1.00 1.00 2.94 1.00 3.94
O556-23-PP-008 W1 O556 114.30 126.00 11.70 11.70 5.72 1.89 7.61
and W1 O556 147.00 157.00 10.00 10.00 3.44 1.46 4.90
  O556-23-PP-009    W1    O556    111.00    146.00    35.00    35.00    6.20    5.44    11.64  
and W1 O556 149.00 154.00 5.00 5.00 5.52 3.90 9.42
 

Drill holes not reported in this table with a collar location tabulated in Table 2 contained no significant assay results.

 

 

 

  Qualified Person  

 

Mr. Robin Adair is the Qualified Person and the Senior Technical Advisor for Pine Point Mining Limited. He is responsible for the technical data reported in this news release and is a Professional Geologist registered in the Northwest Territories.

 

  Quality Assurance / Quality Control  

 

 Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation, and analyses. Drill core samples from the Pine Point project area are securely transported to its core facility on-site, where they are logged and sampled. Samples selected for assay are shipped to ALS Canada Ltd.'s preparation facility in Yellowknife. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for a multi-element suite with a 1% upper detection limit for base metals. Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade, four acid digestion, and ICP-AES analysis with an upper detection limit of 30% and 20%, respectively. Samples with Zn >30% and or Pb >20% are analyzed by traditional titration.

 

  Table 2: Drill Hole Collar Locations (NAD83 (CSRS) Zone 11).

 
                                                                                                                                       
  Hole Name    Zone    Deposit    Easting    Northing    Elev. (m)    Azm.    Dip    Length (m)  
P499-23-PP-001 W1 P499 600340 6733558 205.35 0 -90 168
P499-23-PP-002 W1 P499 600308 6733557 205.29 0 -90 186
P499-23-PP-003 W1 P499 600271 6733560 205.23 0 -90 189
P499-23-PP-004 W1 P499 600281 6733578 205.17 0 -90 189
O556-23-PP-001 W1 O556 599505 6734180 202.32 0 -90 192
O556-23-PP-002 W1 O556 599514 6734142 202.78 0 -90 192
O556-23-PP-003 W1 O556 599478 6734123 202.69 0 -90 192
O556-23-PP-004 W1 O556 599520 6734108 202.85 0 -90 192
O556-23-PP-005 W1 O556 599498 6734110 202.85 0 -90 192
O556-23-PP-006 W1 O556 599447 6734128 202.38 0 -90 192
O556-23-PP-007 W1 O556 599423 6734115 201.82 0 -90 192
O556-23-PP-008 W1 O556 599429 6734089 201.58 0 -90 192
O556-23-PP-009 W1 O556 599459 6734081 201.83 0 -90 192
O556-23-PP-010 W1 O556 599487 6734076 202.17 0 -90 192
 

  
 

 

  About Osisko Metals  

 

 Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space, more specifically copper and zinc. The Company is a joint venture partner with Appian Capital Advisory LLP for the advancement of one of Canada's premier past-producing zinc mining camps, the Pine Point Project, located in the Northwest Territories. The 2022 PEA (as defined herein) has indicated an after-tax NPV of C$602 million and an after tax IRR of 25%, based on long-term zinc price of US$1.37/lb. The current Mineral Resource Estimate consists of 15.7Mt grading 5.55% ZnEq of Indicated Mineral Resources and 47.2Mt grading 5.94% ZnEq of Inferred Mineral Resources . The Mineral Resources are amenable to open pit and shallow underground mining. Please refer to the technical report entitled "Preliminary Economic Assessment, Pine Point Project, Hay River, Northwest Territories, Canada" dated August 26, 2022 (with an effective date of July 30, 2022), which has been prepared for Osisko Metals and PPML by representatives of BBA Engineering Inc., HydroRessources Inc., PLR Resources Inc. and WSP Canada Inc. (the " 2022 PEA "). Please refer to the full text of the 2022 PEA, a copy of which is available on SEDAR (   www.sedar.com   ) under the Osisko Metals' issuer profile, for the assumptions, methodologies, qualifications and limitations described therein. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, an electrical substation, as well as 100 kilometres of viable haulage roads.

 

The Company has also acquired, from Glencore Canada Corporation, a 100% interest in the past-producing Gaspé Copper Mine, located near Murdochville in the Gaspé peninsula of Québec. The Company is currently focused on resource evaluation and economic studies of the Mount Copper Expansion Project that hosts a pit-constrained Inferred Mineral Resource (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ) of 456Mt grading 0.31% Cu (see April 28, 2022 news). Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

 

  About Appian  

 

Appian Capital Advisory LLP is a London-headquartered investment advisor to long-term value-focused private capital funds that invest solely in mining and mining-related companies.

 

Appian is a leading investment advisor in the metals and mining industry, with global experience across South America, North America, Europe, Australia and Africa and a successful track record of supporting companies to achieve their development targets, with a global operating portfolio overseeing nearly 6,300 employees. Appian has a global team of 65 experienced professionals with presences in London, Toronto, Vancouver, Montreal, New York, Lima, Belo Horizonte, Perth, Mexico City and Dubai. The Appian team, through its private capital funds, has a long history of successfully bringing mines through development and into production, having completed 9 mine builds in the last 6 years.

 

For more information, please visit   www.appiancapitaladvisory.com   , or find us on LinkedIn, Instagram and Twitter.

 

  For further information on this news release, visit    www.osiskometals.com    or contact:  

 

Robert Wares, Chairman & CEO of Osisko Metals Incorporated 

 

Email:   info@osiskometals.com   
  www.osiskometals.com   

 

  Cautionary Statement on Forward-Looking Information  

 

  This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance are not statements of historical fact and constitute forward-looking information. This news release may contain forward-looking information pertaining to the closing of the Gaspe Copper Project Definitive Agreement or the Pine Point Project. For Pine Point, statements including, among other things, the results of the 2022 PEA and the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Project will be a robust operation and profitable at a variety of prices and assumptions; the ability to identify additional resources and reserves (if any) and exploit such resources and reserves on an economic basis; the expected high quality of the Pine Point concentrates; the potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of tax revenue and contribution of jobs; the Pine Point Project having the potential for mineral resource expansion and new discoveries; the timing and ability for the Pine Point Project to reach construction decision (if at all); the estimated costs to take the Pine Point Project to construction decision (if at all); the ability of the Company to realize the anticipated benefits of the Transaction; and the impact to the Company of the disposition of ownership interest and control in the Pine Point Project, which is a material property of the Company. There can be no certainty on the timing, costs and ability for the joint venture parties to take the Pine Point Project to reach construction decision or pursue planned exploration and development as presently contemplated.  

 

  Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management's experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability and timing for the parties to fund cash calls to advance the development of the Pine Point Project and pursue planned exploration and development; future prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of equipment; the economic viability of the Pine Point Project; and positive relations with local groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company's public disclosure record on SEDAR (www.sedar.com) under Osisko Metals' issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.  

 

  Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.  

 

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c3c6c3f-cb77-475c-b4fc-413318535d34  

 

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Osisko Metals (TSXV:OM)

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  FPX Nickel logo (CNW Group/FPX Nickel Corp.) 

 

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On behalf of FPX Nickel Corp.

 

"Martin Turenne"
Martin Turenne , President, CEO and Director

 

   Forward-Looking Statements   

 

  Certain of the statements made and information contained herein is considered "forward-looking information" within the meaning of applicable Canadian securities laws. These statements address future events and conditions and so involve inherent risks and uncertainties, as disclosed in the Company's periodic filings with Canadian securities regulators. Actual results could differ from those currently projected. The Company does not assume the obligation to update any forward-looking statement.  

 

  Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.  

 

SOURCE FPX Nickel Corp.

 

 

 

 Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2025/11/c5569.html  

 
 

 

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HIGHLIGHTS:

- Operational Milestones

o VTX remains firmly on track to commence production of high-grade ore from the underground mine in the forthcoming weeks.

o Transformer and cabling for the installation of 11kV high voltage underground power system on site with installation commenced.

o Preparations for the underground mine startup up progressing as planned and stripping of the main access is completed.

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o Fan chambers have been excavated to provide secondary ventilation for production activities, exploration drilling and the future southern access toward the Fosters' exploration target.

o Primary ventilation fan has been installed and bulkhead completed.

o High voltage surface substation has been installed.

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o Stripping of the main accessis completed with the final elements of ground support (approx. 30m) to be completed before power cable installation starts next week.

o Cable bolts installed for the intersection of Lady Belmore exploration drive with first cut drilled out and ready to charge.

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o Mine schedule for FY26 finalised.

o First airleg stope secondary vent installed and specialty equipment on site to start first air leg stope.

o First long hole stope planned for August. High grade from airleg and longhole stopes to complement larger tonnage from development ore headings.

- People that have been onboarded

o 2x Drill Fitters and Heavy diesel fitter.

o Process superintendent commences next week.

o Full Tech team started including mine surveyor this week.

o Have back-to-back airleg miners for stoping.

o Full underground and mill crews.

- Improvements to plant

o DSM screen installed to improve product delivery to Wilfley Table.

o Gemini table improvements with new tabletop and gearbox improving final concentrate grade to over 20% gold (suitable for direct smelting to Dore on site).

o Process water pump upgrade improving ore washing and Tomra performance.

- Revised mine plan and schedule completed and ready to implement

- Updated Reward Gold mine mining plan and mine schedule completed.

- Adding a high-grade long hole stope upfront to be mined concurrently with the high grade airleg stope.

Vertex Director Declan Franzmann commented: "It is great to see all the elements of re-developing the underground mine and processing facility coming together so rapidly. The most pleasing aspect is our success in employing an incredible team of people to run the operation and all credit to management for developing great "esprit de corps" and a single sense of purpose as we push to full production."

As previously announced, the startup mine schedule includes mining 2,075 tonnes at 17.8 g/t Au from a developed airleg stope block. The planned stope width is the same as the interpretation of the mineralisation. (Refer to Table 1 in Appendices 1) (VTX ASX announcement 26/06/23).

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This stope can be exploited as soon as services have been established. The mining crews have done a great job in the access drive to make room for the services (11kV cable, water and air lines) while improving accessibility for the mobile mining equipment selected for the Project.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/OUQP5Z21

 

About Vertex Minerals Limited:  

Vertex Minerals Limited (ASX:VTX,VTXXF) is an Australian based gold exploration company developing its advanced Hargraves and Hill End gold projects located in the highly prospective Eastern Lachlan Fold Belt of Central West NSW. Other Company assets include the Pride of Elvire gold project and Taylors Rock gold/nickel/lithium project both located in the Eastern Goldfields of WA. The focus of Vertex Minerals is to advance the commercial production of gold from its NSW projects embracing an ethical and environmentally sustainable approach.

 

 

Source:
Vertex Minerals Limited

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