MONTREAL, QUEBEC–(Marketwired – Dec. 6, 2017) – Osisko Metals Incorporated (the “Company” or “Osisko Metals“) (TSX VENTURE:OM)(FRANKFURT:0B5) is pleased to announce the initial results from its maiden drilling program on the Mount Fronsac North Project located 60 kilometres west of Bathurst, New Brunswick. Drill hole MF00-31-Wedge intersected 12.4 metres of 9.29% Zn and 2.84% Pb, and 45.1 grams per tonne Ag.
Drill hole MF00-31-Wedge and another wedge cut from historical drill hole MF00-29, that is located 100m south of MF00-31-Wedge, were both drilled to confirm historical assays to comply with NI43-101 regulations that require using an accredited laboratory, and secondly to measure the variability of the mineralization.
|-72° 268°||Assay results pending|
|-61° 267°||Assay results pending|
|-77° 268 °||Drill hole abandoned|
|-77° 268°||Assay results pending|
Additional drill holes MF17-43 & 44 were both drilled between MF00-29 and MF00-31 in order to test the high-grade mineralization at different elevations. Assay results are pending.
An additional drill hole located 100 metres north of MF00-31-Wedge, MF17-46, was drilled to test mineralization located 80 metres up dip from historical drill hole MF00-22 that intersected 2.3 metres of 1.44% Cu, 2.37% Zn, 1.07% Pb, 37.6 g/t Ag and 0.4 g/t Au. MF17-46 encountered 21.6 metres of predominantly massive sulphides from 363.8 to 385.4 meters (19.0m true thickness) hosted in a broader zone of semi massive and disseminated sulphides and stringer sulphides. Assay results are pending.
The next holes that are planned will test a 250-metre down dip gap between two mineralized historical drill holes located 110 metres north of drill hole MF17-46. The lower and upper holes contained 4.87 metres of 1.27% Zn, 0.46% Pb and 7.9 g/t Ag and 1.94 metres of 2.12% Zn, 0.59% Pb, and 7.8 g/t Ag respectively.
The recently announced acquisition of the mineral claims to the north (see news release dated November 27,2017) that hosts the historical drill hole MF00-26 contains 7.0 metres of 1.84% Cu and a separate zone of 7.0 metres of 1.93 % Zn that is situated within a broader halo of 22.5 metres of semi-massive to massive sulphides. This drill hole is located approximately 180 metres north of the next holes planned and almost 300 metres north of drill hole MF00-46.
Jeff Hussey, President and CEO of Osisko Metals, commented: “The Mount Fronsac North deposit is a large sulphide zone that is currently defined by widely spaced drill holes. Our objective is to extend the boundaries of the high grade zones within the broader envelope of sulphide mineralization. Confirming the grades of historical drill holes is an important first step in this process, and so far we have been successful in replicating significant intersections”.
Mr. Gary Woods is the Senior Exploration Manager for Osisko Metals Incorporated and a Professional Geologist registered in New Brunswick. He is the Qualified Person responsible for the technical data reported in this news release.
Quality Assurance / Quality Control
Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from Osisko Metals were securely transported to its core facility in Bathurst New Brunswick where they were logged and sampled. Samples selected for assay were shipped via secure transportation to Activation Laboratories preparation facility in Fredericton New Brunswick. Pulps were analyzed at Activation Laboratories facility in Ancaster, Ontario. Zinc, lead and copper were analyzed by assay grade peroxide fusion (total digestion) with ICP-AES finish. Silver was analyzed by gravimetric fire assay and gold by fire assay-atomic absorption.
About Mount Fronsac North
The Mount Fronsac North deposit contains a historical, non-NI43-101 compliant, unclassified resource of 1.26 million tonnes grading 7.65 % Zn, 2.18 % Pb, 0.14% Cu, 40.3 g/t Ag, and 0.40 g/t Au. This high-grade zone is hosted within approximately 14 million tonnes of low-grade, semi-massive (>60%) to locally massive sulfides that occur in an envelope of quartz-sericite ± chlorite schist.
The high-grade deposit has a north-south strike length of 525 metres and a down dip length of 600 metres. Thickness varies between 2 to 20 metres. The alteration and disseminated mineralization halo has a maximum thickness of 140 metres and contains up to 50 percent fine to coarse-grained disseminated pyrite. The pyritic envelope is 900 metres long and extends down dip over 1,000 metres. Massive sulfides are found throughout this alteration envelope, but preferentially occur at or near the upper contact.
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with an emphasis on zinc. 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 could feed a central concentrator. In parallel, Osisko Metals is monitoring several base metal oriented peers 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:OR)(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 applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. 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. Forward-looking information in this news release includes, but is not limited to, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements for each related party transaction; objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR at www.sedar.com. Although the Corporation 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 Corporation 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) accepts 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.
Powered by WPeMatico