MONTREAL, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the “Company” or
“Osisko Metals”) (TSX-V: OM; FRANKFURT: OB51) is pleased to announce additional assay results from 7 drill holes
completed in the Central Zone in the Pine Point Mining Camp (“PPMC”). Drill hole M6263-18-PP-025 intersected 3.97% Zinc and
5.29% Lead over 7.51 metres and hole M6263-18-PP-024 intersected 3.27% Zinc and 3.55% Lead over 5.81 metres. A high-grade
intersection was also returned from Hole M6263-18-PP-030 that intersected 21.69% Zinc and 2.90% Lead over 2.90
metres. All intersections are within flat lying tabular-style deposits and all intercepts are located above 82
metres depth. (See 2018 Summer Drill Campaign Central Zone M62-63 Map).
All reported holes are from the M62/63 deposit that currently measures 1,100 metres in length within the Central
Zone. The Central Zone hosts twelve deposits with unclassified historical resources reported by Cominco Ltd. (1988) over a distance
of 7.6 kilometres, (including the M62/63 deposit of 789,200 tonnes at 6.7% Zinc and 2.5% Lead). This area is located 11 kilometres
to the west of the electrical sub-station along the main haulage road. Additional highlights are listed below in Table 1 and
details are provided in Tables 2 & 3.
Table 1: Selected Drill Highlights
Hole Name |
Area |
Historical
Deposit |
From |
To |
Width |
Lead |
Zinc |
Lead + Zinc |
|
|
(metres) |
(metres) |
(metres) |
% |
% |
% |
M6263-18-PP-024 |
Central |
M62, M63 |
66.94 |
72.75 |
5.81 |
3.27 |
3.55 |
6.82 |
M6263-18-PP-030 |
Central |
M62, M63 |
62.50 |
65.40 |
2.90 |
2.90 |
21.69 |
24.59 |
M6263-18-PP-025 |
Central |
M62, M63 |
66.93 |
74.44 |
7.51 |
5.29 |
3.97 |
9.27 |
Note: Lead + zinc grades may not add up exactly due to
rounding to 1/100. |
The objective of the 2018 drill program is to upgrade approximately 50 million tonnes of unclassified
near-surface historical resources (Cominco Ltd.) to NI43-101 Inferred Mineral Resources as quickly as possible in areas amenable to
open pit mining. The 2018 program consists of approximately 700 drill holes (395 now completed) within the Main Trend, a
20-kilometre long portion of the PPMC that is located on the south shore of Great Slave Lake in the Northwest Territories, near
infrastructure and paved highway access and with 100km of haulage roads already in place.
Note regarding historical resource and Qualified Person
The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is
reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient
work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not
done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that
such work will allow conversion of such historical resources.
Stanley G. Clemmer, P. Geo registered in the Northwest Territories and is Chief Geologist for Pine Point Mining
Limited, a wholly owned subsidiary of Osisko Metals Limited. 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 the Pine Point project area were securely transported
to its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were
shipped via secure transportation to the ALS Canada Ltd’s preparation facility in Yellowknife. Pulps were analyzed at the ALS
Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both ICP-AES
and ICP-MS for ultra-trace level detection 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 reporting Zn >30% and or Pb >20% are analyzed by traditional titration.
Table 2: Composite Assay Results
Hole Name |
Historical
Deposit |
From |
To |
Drilled Width |
True Width |
Lead |
Zinc |
Lead + Zinc |
|
(metres) |
(metres) |
(metres) |
(metres) |
% |
% |
% |
M6263-18-PP-023 |
M62, M63 |
55.95 |
57.30 |
1.35 |
1.27 |
0.46 |
2.52 |
2.98 |
M6263-18-PP-023 |
M62, M63 |
64.22 |
65.30 |
1.08 |
1.01 |
1.38 |
5.44 |
6.82 |
M6263-18-PP-024 |
M62,
M63 |
66.94 |
72.75 |
5.81 |
5.81 |
3.27 |
3.55 |
6.82 |
M6263-18-PP-025 |
M62,
M63 |
66.93 |
74.44 |
7.51 |
7.51 |
5.29 |
3.97 |
9.27 |
M6263-18-PP-025 |
M62_M63 |
76.06 |
77.55 |
1.49 |
1.49 |
0.04 |
1.31 |
1.35 |
M6263-18-PP-028 |
M62, M63 |
69.50 |
75.00 |
5.50 |
5.17 |
0.03 |
6.65 |
6.68 |
M6263-18-PP-030 |
M62,
M63 |
62.50 |
65.40 |
2.90 |
2.90 |
2.90 |
21.69 |
24.59 |
M6263-18-PP-030 |
M62, M63 |
81.42 |
83.26 |
1.84 |
1.84 |
1.19 |
17.97 |
19.16 |
M6263-18-PP-032 |
M62, M63 |
90.60 |
91.10 |
0.50 |
0.43 |
0.48 |
2.74 |
3.22 |
M6263-18-PP-033 |
M62, M63 |
71.88 |
74.84 |
2.96 |
2.56 |
0.10 |
5.26 |
5.36 |
Table 3: Drill hole collar locations (UTM NAD83 zone 11)
Hole Name |
Deposit |
Area |
Easting |
Northing |
Elevation |
Azimuth |
Dip |
Depth (metres) |
M6263-18-PP-023 |
M62, M63 |
Central |
629678.21 |
6744433.85 |
224.75 |
090 |
-70 |
100 |
M6263-18-PP-024 |
M62, M63 |
Central |
629701.35 |
6744408.96 |
224.66 |
000 |
-90 |
95 |
M6263-18-PP-025 |
M62, M63 |
Central |
629744.50 |
6744379.29 |
223.18 |
000 |
-90 |
95 |
M6263-18-PP-028 |
M62, M63 |
Central |
629817.94 |
6744423.61 |
223.12 |
090 |
-70 |
100 |
M6263-18-PP-030 |
M62, M63 |
Central |
629735.19 |
6744469.13 |
224.47 |
000 |
-90 |
93.5 |
M6263-18-PP-032 |
M62, M63 |
Central |
629737.19 |
6744469.86 |
224.40 |
075 |
-60 |
111 |
M6263-18-PP-033 |
M62, M63 |
Central |
629735.90 |
6744469.42 |
224.61 |
010 |
-60 |
111 |
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on
zinc mineral assets. The Company controls Canada’s two premier zinc mining camps in Canada, namely the Pine Point Camp (“PPMC”)
located in the Northwest Territories (22,000 ha) and the Bathurst Mining Camp (“BMC”), located in northern New Brunswick (63,000
ha). The Company is currently drilling in both camps for a combined 100,000 metres. The focus of these programs is to upgrade
historical resources to comply with NI43-101 regulations and also on exploration around historical deposits. Brownfield exploration
includes new innovative 3D compilation techniques, updated geological interpretation, and modern geophysics. In Québec, the Company
owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel,
Osisko Metals is monitoring several base metal-oriented peers for opportunities.
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.
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