Osisko Metals Inc V.OM

Alternate Symbol(s): OMZNF

Metals & Mining Copper

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company owns a 100% interest in the past-producing Gaspe Copper mine. The Gaspe Copper mine is located near Murdochville in Quebec's Gaspe Peninsula. In addition to the Gaspe Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance the past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure. Its Mount Copper Expansion Project hosts the undeveloped copper resource in Eastern North America. The Company also owns a group of 199 claims adjacent to its Gaspe Copper Project. The claims cover additional ground near the Gaspe Copper project.

TSXV:OM - Post by User

Osisko Metals Inc

Bullboard Posts

Post by landlubberon May 26, 2011 4:35pm

454 Views

Post# 18631051

OSK to Option Adanac Gold Project

Osisko Mining Corporation to Option the Adanac Gold Project From Threegold Resources Inc.

VAL-D'OR, QUEBEC, CANADA--(Marketwire - 05/26/11) - Threegold Resources Inc. ("Threegold" or the "Company") (TSX-V:THG - News) is pleased to announce that it has entered into an option agreement with Osisko Mining Corp (TSX:OSK - News)whereby Osisko may earn a maximum 70% interest in the Adanac GoldProject located in the Abitibi region of Quebec. Under the terms of theagreement, Osisko will incur $4.5 million dollars of explorationexpenditures over 4 years and pay $600,000 in cash payments to earn a51% interest. Under the same terms, Osisko can then earn an additional19% (up to 70%) by incurring an additional $10 million dollars ofexploration or taking the project to feasibility.

Osisko hasrecently purchased 9.2% of the outstanding Threegold shares in the openmarket, which was announced on May 19th 2011. Furthermore, Osisko has anoption on Threegold's Standard Gold Project located in the Abitibiregion of Quebec, where Osisko may earn a maximum 70% interest in theProperty. Under the terms of the agreement, Osisko will incur $4 milliondollars of exploration expenditures over 5 years and pay $300,000 incash payments to earn a 51% interest. Under the same terms, Osisko canthen earn an additional 19% (up to 70%) by incurring an additional $6million dollars of exploration or taking the project to feasibility.

About Adanac

TheAdanac Project is located in the heart of the Abitibi Greenstone Belt,directly south of the Cadillac-Larder Lake Break and is on strike andimmediately adjacent to Gold Bullion Development's Granada Project. Theproject consists in 91 claims covering 3276 hectares and is underlain byPontiac and Temiscaming metasedimentary rocks that have been stronglydeformed and sheared. An unknown quantity of gold has historically beenproduced on the property mostly from the Adanac shaft that reaches adepth of 98 metres opening on 3 sublevels. Threegold began exploring theproject through property-scale geochemical and geophysical surveysbetween 2007 and 2009 followed by a 4,474-metre, 22-hole diamonddrilling program carried out in the fall of 2009 to investigate the mostsignificant targets on the project. This program helped outline a1.8-kilometre gold trend on the project.

https://finance.yahoo.com/news/Osisko-Mining-Corporation-to-iw-4192300187.html?x=0&.v=1

Bullboard Posts

Nintendo stock hits new all-time high as excitement builds over Switch successor