Base Metals
October 12, 2023

Osisko Metals Announces Additional Drill Results From Pine Point With Up to 13.00 Metres Grading 11.11% Zinc and 1.44% Lead

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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 M67, L65, and M62 deposits. The M67 deposit consists of local prismatic development within a tabular apron of mineralization, while L65 and M62 are both tabular-style deposits in the Central Zone (C1). Drilling between M67 and L65 connected the tabular-style mineralization between these deposits over a strike length of 200 metres in an area that was not included in the 2022 PEA Mineral Resource Estimation (MRE).

Drilling was conducted as part of the Pine Point Mining Limited (“PPML”) Joint Venture’s larger 2023 definition drilling program designed to achieve an average drill spacing of approximately 30 metres within the currently modelled mineral resources reported in the 2022 PEA. This spacing is intended to upgrade the resources presently classified as Inferred to the Indicated category.

Drill Hole Assay Composite Highlights:

  • L65-23-PP-051: 11.00 metres, grading 3.64% Zn and 2.44% Pb (6.07% Zn+Pb)
  • M62-23-PP-015: 8.00 metres, grading 7.44% Zn and 0.01% Pb (7.46% Zn+Pb)
  • M67-23-PP-002: 10.00 metres, grading 8.78% Zn and 1.18% Pb (9.96% Zn+Pb)
  • M67-23-PP-004: 7.00 metres, grading 14.25% Zn and 3.37% Pb (17.62% Zn+Pb)
  • M67-23-PP-013: 13.00 metres, grading 11.11% Zn and 1.44% Pb (12.55% Zn+Pb)
  • M67-23-PP-015: 12.00 metres, grading 11.92% Zn and 4.91% Pb (16.83% Zn+Pb)
  • M67-23-PP-027: 8.00 metres, grading 9.16% Zn and 3.92% Pb (13.08% Zn+Pb)

All mineralization occurs near surface between 51.00 and 87.00 metres vertical depth from surface and occurs as tabular-style semi-massive to massive colloform sphalerite and galena associated with intensely altered hydrothermal dolomite and limestone.

Robert Wares, CEO and Chairman of the Board, commented: “These drill results have met expectations when compared to previous drilling and the continuity between the M67 and L65 deposits has been confirmed and is welcomed news. This new data will be incorporated into the mineral resource update planned for later this year. We also look forward to launching the feasibility study in the new year.”

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