Osisko Metals Announces the Start Of 2023 Drilling at Gaspé Copper

Osisko Metals Announces the Start Of 2023 Drilling at Gaspé Copper

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce that the 2023 drilling program at the Gaspé Copper Project is underway. The 8,000 to 10,000-metre program will focus on continued infill drilling of the Inferred Mineral Resource of the Mount Copper open pit deposit (see details below under "About Osisko Metals"), and will also begin evaluation of remaining higher-grade (2% to 4% Cu) skarn mineralization of the underground E Zone (details to be provided in September).

The company anticipates issuing an updated, NI43-101 compliant, pit-constrained Mineral Resource Estimate for the Mount Copper deposit in Q4 2023, which will be based on historical drilling data from Noranda (until 1998), and more recently from Xstrata and Glencore Canada (2011 to 2019), as well as Osisko Metals' 2022 and 2023 drill results.

The expansion of the Mount Copper open pit was evaluated by Noranda in the 1980's but did not proceed due to the presence of the copper smelter located on the pit perimeter. Mining operations ceased in 1999 and the smelter closed in 2002. Since then, the entire mine, mill and smelter complex was dismantled and the site has been on care and maintenance. With the smelter gone, potential expansion of the Mount Copper pit is possible and this will be the focus of the Company's resource evaluation in the context of rising copper prices.

The Company also wishes to announce that a metallurgical testing program has been launched for the Mount Copper deposit, which will include approximately 200 batch tests and 18 lock-cycle tests from eighteen 30-kilogram samples taken from drill core sample rejects from the 2022 drill program, in order to establish copper, silver and molybdenum recoveries. In addition, 16 grinding tests will be performed from corresponding NQ half core samples.

Finally, the Company also wishes to announce the start of field work this month for Phase 1 Environmental Assessment of the Gaspé Copper Project. Field work will focus on the evaluation of the drainage system at the eastern portion of the mine site in view of obtaining permits next year to begin dewatering of the Mount Copper open pit, to allow for in-pit geotechnical drilling as soon as possible.

Qualified Person

Mr. Jeff Hussey, P. Geo., is the Qualified Person on the Gaspé Copper Project for Osisko Metals. He is responsible for the technical data reported in this news release and he is a Professional Geologist registered in Quebec.

About Osisko Metals

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals space, specifically copper and zinc. The Company is a joint venture partner with Appian Natural Resources Fund III LP for the advancement of one of Canada's premier past-producing zinc mining camps, the Pine Point project (the "Pine Point Project"), located in the Northwest Territories, for which the 2022 PEA (as defined herein) has indicated an after-tax NPV of C$602 million and an IRR of 25%, based on long-term zinc price of US$1.37/lb and the current mineral resource estimates that are amenable to open pit and shallow underground mining. The current mineral resource estimate in the 2022 PEA consists of 15.7Mt grading 5.55% ZnEq of indicated mineral resources and 47.2Mt grading 5.94% ZnEq of inferred mineral resources. Please refer to the technical report entitled "Preliminary Economic Assessment, Pine Point Project, Hay River, Northwest Territories, Canada" dated August 26, 2022, a copy of which is available on SEDAR (www.sedar.com) under Osisko Metals' issuer profile. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, and has an electrical substation as well as 100 kilometres of viable haulage roads already in place.

As announced July 17, 2023, the Company acquired, from Glencore Canada, 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 of the Mount Copper deposit that hosts an open pit-constrained Inferred Mineral Resource (in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects) of 456 Mt grading 0.31% Cu (see April 28, 2022 news release). Current infill drilling at Gaspé Copper aims to expand and convert the Inferred Resource to Measured and Indicated categories. Gaspé Copper hosts the largest undeveloped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.

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 Pine Point Project and Gaspé Copper, including, among other things, the results of the 2022 PEA and the IRR, NPV and estimated costs, production, production rate and mine life; the ability to identify additional resources and reserves (if any) and exploit such resources and reserves on an economic basis; Gaspé Copper hosting the largest undeveloped copper resource in Eastern North America; Glencore becoming a Control Person of the Company; the high value potential of Gaspé Copper; and the ability of Osisko Metals to become a premier base metal development company in Canada.

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 at Gaspé Copper and the Pine Point Project; 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture 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.


Primary Logo

News Provided by GlobeNewswire via QuoteMedia

OM:CA
Osisko Metals

Osisko Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Osisko Metals (TSXV:OM)

Osisko Metals: Pure Potential


Keep reading...Show less

Developing high-grade base metal assets in Canada to meet future demand

Osisko Metals Announces Uplisting to Toronto Stock Exchange

Osisko Metals Announces Uplisting to Toronto Stock Exchange

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") (TSX: OM; OTCQX: OMZNF; FRANKFURT: OB51) is pleased to announce that it will be uplisting to the Toronto Stock Exchange (the " TSX ") effective at market open on Friday, August 22, 2025. The common shares of the Company (the " Common Shares ") will continue to trade under its current stock symbol, "OM", following the uplisting from the TSX Venture Exchange (the " TSXV ") to the TSX.

Following the uplisting to the TSX, the Common Shares will no longer trade on the TSXV and will be voluntarily delisted from the TSXV, effective as of close of market on Thursday, August 21, 2025. Shareholders are not required to exchange their direct registration system advices or share certificates, or take any other action in connection with the TSX uplisting.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Osisko Metals Intersects 731 Metres Averaging 0.29% Cu at Gaspé

Osisko Metals Intersects 731 Metres Averaging 0.29% Cu at Gaspé

Osisko Metals Incorporated (the " Company or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

Osisko Metals Chief Executive Officer Robert Wares commented: " Drill results at Gaspé Copper continue to exceed expectations. These new data expand the deposit further south and at depth with drill holes 30-1092 and 30-872, located respectively 230 metres and 440 metres south of the 2024 Mineral Resource Estimate ("MRE") model. Additional holes are planned in this resource expansion target area in the coming months over a surface of 450 metres by 550 metres, which we believe will add significant new tonnage to the MRE update, planned for Q1 2026. "

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Osisko Metals Gaspé Copper Project Intersects 645 Metres Averaging 0.28% Cu

Osisko Metals Gaspé Copper Project Intersects 645 Metres Averaging 0.28% Cu

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") ( TSX-V: OM ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.

Osisko Metals Chief Executive Officer Robert Wares commented: " These new results underscore the overall large-scale potential of mineralization at Gaspé Copper, with drill hole 1082 cutting 853 metres of continuous mineralization, including the bottom 424 metres being located immediately below and outside the 2024 MRE model. Furthermore, drill hole 1088 intersected new mineralization 80 metres southwest of the 2024 MRE model, emphasizing the excellent potential for increasing the size of the known deposit at depth and to the south. "

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

Osisko Metals Infill and Expansion Drilling Intersects New Wide Mineralization at Gaspé Copper

New Expansion Hole Intersects 279 Metres Averaging 0.49 % Cu

Nine Drill Rigs Now Active on Site

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Osisko Metals Announces Completion of Continuance to Ontario

Osisko Metals Announces Completion of Continuance to Ontario

Osisko Metals Incorporated (the " Company " or " Osisko Metals ") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: OB51) announces that, effective June 13, 2025, the Company has been continued from British Columbia ( Business Corporations Act (British Columbia) to Ontario ( Business Corporations Act (Ontario)) (the " Continuance ").

The Company adopted new articles and by-laws as part of the Continuance, which replaced the prior articles and by-laws of the Company. The Continuance and the new articles and by-laws of the Company were each approved by shareholders at the Company's annual and special meeting of shareholders held on May 29, 2025. Copies of the certificate of continuance and the new articles and by-laws of the Company will be available on SEDAR+ ( www.sedarplus.ca ) under the Company's issuer profile and on the Company's website at www.osiskometals.com .

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Questcorp Mining Completes 25 Percent of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Questcorp Mining Completes 25 Percent of Maiden Drilling Program at the La Union Gold & Silver Project in Mexico

Questcorp Mining Inc. (CSE: QQQ,OTC:QQCMF) (OTCQB: QQCMF) (FSE: D910) (the "Company" or "Questcorp") is pleased to announce they have completed 25% of the planned drilling program on its La Union Project in northwest Sonora, Mexico. This work is being carried out by property vendor and operator Riverside Resources Inc. (TSXV: RRI).

Highlights

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Noble Reports Updates on Homeland Nickel

Noble Reports Updates on Homeland Nickel

(TheNewswire)

TORONTO TheNewswire - August 18, 2025 Noble Mineral Exploration Inc. (" Noble " or the " Company ") (TSXV: NOB,OTC:NLPXF) (OTCQB: NLPXF) is pleased to report that t he News Release issued today giving an Exploration and Corporate Update for Homeland Nickel in which Noble has a significant shareholding was issued today the contents of which are below. This all relates to the White House announcing immediate measures to be introduced to significantly increase the US production of lithium, nickel, copper, and rare earths, with an eye to increased production, the creation of jobs and, significantly, the reduction of US reliance on foreign nations.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Bold Ventures Announces Results of A and B Horizon Soil Sampling Program on Its Burchell Property

Bold Ventures Announces Results of A and B Horizon Soil Sampling Program on Its Burchell Property

Bold Ventures Inc. (TSXV: BOL,OTC:BVLDF) (the "Company" or "Bold") is pleased to announce the results of an A and B Horizon Soil Sampling Program on its Burchell Gold and Copper Property ("the Property"), located approximately 100 km west of Thunder Bay, Ontario. 474 samples in total were collected on a flagged 800 m by 1 km grid centered on the 111 Zone, where grab samples returned from 10 ppb Au up to 68 gt Au last Fall (see Bold news release dated January 9, 2025).

Highlights from the survey include:

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Prismo Engages Windfall Geotek for Data Analysis at Hot Breccia

Prismo Engages Windfall Geotek for Data Analysis at Hot Breccia

(TheNewswire)

Vancouver, British Columbia TheNewswire - August 18th, 2025 Prismo Metals Inc. (the " Company ") (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that its has engaged Windfall Geotek Inc. to apply its proprietary Windfall AI System to integrate and analyze geophysical data, topography data and drill hole data at Prismo's Hot Breccia copper project located in Arizona.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Osisko Metals

Osisko Metals Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×