Base Metals
August 15, 2023

Osisko Metals: Seizing Opportunities in Dynamic Markets and Crucial Metals Advancement

The global push towards decarbonization to combat climate change has led to an unprecedented shift in energy transition metals such as copper and zinc.

The global push towards decarbonization to combat climate change has led to an unprecedented shift in energy transition metals such as copper and zinc. Coupled with uncertain supply in politically sensitive regions, Osisko Metals Inc. (TSXV: OM;OTCQX:OMZNF) ,with a Market capitalization of $59 Million, is at the forefront of a new generation of mining companies looking to restart former mines in historical mining camps through its lead-zinc Pine Point Project and the Gaspé Copper Project. Its intention is to make Osisko Metals the leading base metal developer in North America.

Osisko Metals' core values drive its sustainable business: ethical conduct, creative innovation, efficiency, respect, engagement, and inclusivity. Its corporate beliefs encompass prioritizing neighbor well-being, exceeding environmental stewardship norms, transparent community engagement, and fostering local economic growth.

Highlights of Gaspé Copper Project:

  • High Neutralization potential by calcareous host rocks –calcite neutralizes acid effluents
  • Positioned near Murdochville within the Mi’gmaq First Nation of Gespeg's claimed territory, this North American mining project benefits from Quebec's favorable mining environment. Gaspé copper has historically mined roughly 142 million metric tons of ore from open pit and underground mines, and still hosts significant copper potential.
  • Over a seven-year period, the Copper Mountain Expansion Project unfolds, anchored by vast Inferred Mineral Resources of 456Mt at 0.31% copper sulphide. The substantial Mont Porphyre deposit, spanning depths of 1 to 1.7 km, enhances its promise, alongside favorable prospects around past mining operations.
  • A strong support infrastructure is in place, including paved road access, an on-site hydroelectric substation, port access via Saint-Laurent and Gaspé, and rail connectivity in southern Gaspésie. This comprehensive setup enhances operational efficiency and logistics.
  • Based on 3,350drill holes and 27,900 samples, the Copper-only Inferred Mineral Resource Estimate is a crucial reference. Ongoing drilling aims to reveal silver and molybdenum credits, elevate sulfide copper grade by 10%, and lower the oxide ratio. With 30,000 meters of Definition Drilling, confidence in this resource will rapidly strengthen for future development.

Pine point, Northwest Territories

Situated on the southern shore of Canada's Great Slave Lake, between Hay River and Fort Resolution in the Northwest Territories, Osisko Metals' Pine Point Project boasts substantial infrastructure including on-site power, access to a paved highway, and an extensive network of viable haulage roads spanning 100 kilometers.


The project holds promising potential for expanding its mineral resources, particularly in zinc, a critical and scarce metal integral to the green economy. Zinc's role in galvanization, which enhances the durability of infrastructure and construction materials, underscores its significance. Additionally, lead, a supporting player in the green economy per the World Bank, is vital for wind generation, solar panel longevity, and the recovery of essential metals from electronics recycling.

Pine Point's historical production of exceptionally pure sphalerite and galena concentrates, with minimal impurities, sets it apart from contemporaries. Supported by a 2020 Preliminary Economic Assessment, the project stands poised to unlock the value of extensive shallow mineralization, fostering the potential for sustained mining operations.

Pine Point: Positive 2022 PEA Outlined Potential for a Global Top Ten Zinc Producer

  • Near Surface Indicated Mineral Resource Estimate : M&I Resource of 15.8Mt @4.2 % Zn &1.5 % Pb+ Inferred Resource of 47.2Mt Grading 4.4 % Zn and 1.7 % Pb
  • NPV of C$605M and IRR of 25% (After-Tax,US$1.37Zn)

               •Potential to Be Top-10 Global Zinc Mine on Production Basis & Produce Premium High-Grade Clean Zinc Concentrate

  • Infrastructure in Place:

              •Hydroelectric power substation located onsite

                         •MOU with NTPC Power to purchase excess Taltson Hydroelectricity

              •Rail access with in 60km

             •Paved access road to the site and ~100km of haulroads on site

  • Opportunities to Enhance PEA:

             •Resource expansion laterally along open pit constrained boundaries of deposits

             •Hydrogeological studies continue to reduced e-watering estimates & costs 

Pine Point Could Produce one of the Cleanest Concentrates Globally:

Lead& Zinc Concentrates: Premium Quality, High Grade and Clean

  1. High recoveries for both zinc and lead (87% and 93%) using XRT sorting and conventional grinding and flotation processes
  2. High concentrate grades: Zinc (59%) & Lead (64%). Low deleterious elemental content
  3. No smelter penalties expected

Key Takeaways of Osisko Metals

1.   Shift towards a green, sustainable economy coupled with post-COVID infrastructure stimulus will dramatically increase global critical metal demand.

2.   Critical metal production deficits are looming, as only a handful of development projects nearing permitting are in the global pipeline.

3.   The stage is set for a super-cycle in critical metals (Cu-Ni-Zn-Co).

4.   Almost unattainable gap between green energy copper demand and mining supply”-Wood Mackenzie October 2022

5.   Osisko Metals is well-positioned to capitalize on evolving markets and critical metals development with significant exposure to both copper and zinc.

6.   Gaspé Copper: Best copper development asset in Eastern NA

7.   Pine Point: Free-carried JV with Appian to FID; the project has the potential to be oneof Canada’s outstanding Zn-Pb mines that would produce premium concentrates.


Company Featured:
Osisko Metals ( TSX.V: OM)