Base Metals
September 28, 2023

Osisko Metals (TSX.V: OM) Hits 28.0 Metres Grading 10.9% Zinc and 8.0% Lead at Pine Point, NWT

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Osisko Metals Incorporated (the "Company" or "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 P499 and O556 deposits, both prismatic-style deposits with associated tabular-style aprons in the West Zone (“WZ”). Results within the prismatic pipes defined by historical drilling were thick, high-grade intersections consistent with historical results. Drillhole P499-23-PP-004 extends the known prismatic style mineralization towards the West and remains open for further exploration.

Drilling was conducted as part of the Pine Point Joint Venture’s larger 2023 definition drilling program that is designed to achieve an average drill spacing of approximately 30 metres within the current modelled mineral resources reported in the 2022 PEA. This drilling is intended to upgrade Mineral Resources presently classified as Inferred to the Indicated category and to potentially expand on known resources.

Drill Hole Assay Composite Highlights:

  • P499-23-PP-004: 25.00 metres, grading 5.62% Zn and 4.57% Pb (10.19% Zn+Pb)
  • O556-23-PP-005: 28.00 metres, grading 10.91% Zn and 8.03% Pb (18.94% Zn+Pb)
  • O556-23-PP-009: 35.00 metres, grading 6.20% Zn and 5.44% Pb (11.64% Zn+Pb)

All mineralization occurs near surface between 81.00 and 181.00 metres vertical depth from surface and occurs as prismatic-style banded colloform style sphalerite and galena associated with intensely altered hydrothermal dolomite and limestone.

Robert Wares, CEO and Chairman of the Board, commented: “Drill results from Pine Point continue to meet or exceed expectations and we are looking forward to an updated resource estimate before year end. Now that the bulk of the definition program is done, we will focus on exploration drilling of new targets with a significant program slated for the upcoming fall/winter season, details to be provided in due time.”

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