MONTREAL, QUEBEC–(Marketwired – Nov. 15, 2017) – Osisko Metals Incorporated (the “Company” or “Osisko Metals“)(TSX VENTURE:OM)(FRANKFURT:0B5) is pleased to announce initial results from its Gilmour South Project located 35 km south west of Bathurst, New Brunswick. Drill hole GS-00-22W1 intersected 11.31% Zn; 2.10% Pb; 0.16% Cu; 20.95g/t Ag and 0.21 g/t Au over 7.55 metres.
This drill hole provided insight into the massive sulphide-bearing geological trends present in the Gilmour South area and guided the design of subsequent stepout drilling described below. This drill hole was a close- proximity wedge cut, up-dip from the original drill hole GS-99-22 and was designed to confirm previously- obtained massive sulphide grades for NI43-101 regulation compliance:
|Location||Angle /||Core Length|
|DDH||NB Stereographic||Direction||From||To||(m)||Zn %||Pb %||Cu %||Ag g/t||Au g/t|
|*True width of the intersection is estimated at 6.80 metres.|
|** Wedge cut from original drillhole; 194 metres is the length drilled from wedge cut to end of hole (EOH).|
Drill hole GS-17-02 was drilled 59 metres to the south of GS-99-22W1 where it extended the zone and intersected 12.0 metres of massive sulphides containing sphalerite, galena and pyrite; assays are pending.
Drill hole GS-17-03 was drilled 70 metres up-dip from GS-99-22W1 and intersected stringer and disseminated sulphides at the target horizon. Assays are pending.
Approximately 450 metres to the north, a close-proximity wedge cut adjacent to historical drill hole GS-00-33 was drilled to sample the sulphide mineralization. The sulfide intersection in this new hole, GS-00-33W1, is similar to the original hole and assays are pending. Drill hole GS-17-01 is in progress and will investigate the continuation of the sulphide horizon approximately 50 metres to the north of GS-00-33W1 where mineralization is open.
Jeff Hussey, President and CEO of Osisko Metals, commented: “These are the first drill results from Gilmour South project as we investigate the periphery of the deposit to potentially expand resources. Our exploration team has acquired recent airborne geophysical datasets and has combined them with historical data to develop new interpretations and targets as we move forward.”
The initial objective of the drill program is to increase and upgrade historical resources to comply with NI43-101 regulations (see news releases dated October 19, 2017). A key part of this effort will be to investigate the potential for structural thickening of the high-grade sulphide mineralization that is typically associated to the major deposits in the Bathurst Mining Camp.
Mr. Robin Adair is the Qualified Person responsible for the technical data reported in this news release, he is a Professional Geologist registered in New Brunswick and is the President of Osisko Metals Incorporated.
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 Osisko Metals New Brunswick projects were securely transported to its core facility in Bathurst where they were logged and sampled. Samples selected for assay were shipped via secure transportation to Activation Laboratories preparation facility in Fredericton, New Brunswick. Pulps were analyzed at Activation Laboratories facility in Ancaster Ontario. Zinc, lead and copper were analyzed by assay grade peroxide fusion (total digestion) with ICP-AES finish. Silver was analyzed by gravimetric fire assay and gold by fire assay-atomic absorption.
About Gilmour South
The Gilmour South project hosts the “Brunswick Horizon”, and is located 20km south of the former Brunswick No. 12 mine and 7 km south of the former Brunswick No. 6 Mine. These mines produced approximately 150 million tonnes of +12% zinc equivalent. Brunswick No. 12 was the largest underground zinc mine for nearly 50 years, processing 10,500 tonnes per day on average. Both mines occurred in structural corridors that enhanced the thickness and grade of the sulphide horizon.
The Brunswick Horizon is present at Gilmour South over 1.4 kilometers and is characterized by sulphide mineralization, host-rock types and alteration similar to the Brunswick Mines stratiform zinc-lead sulphide mineralization otherwise known as the “Brunswick Horizon”. Mineralization has not been well-delineated and has been investigated by relatively sparse historical drilling at approximately 200 metre centres.
About Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with an emphasis on zinc. In 2017, the Company acquired over 63,000 hectares in the Bathurst Mining Camp (“BMC”). The objective is to develop a multi-deposit asset base that could feed a central concentrator. In parallel, Osisko Metals is monitoring several base metal oriented peers for projects and acquisition opportunities. In Québec, the Company acquired 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. Osisko Gold Royalties Ltd. (TSX/NYSE:OR) and Osisko Mining Inc. (TSX:OSK) are significant shareholders of the Company.
For further information on Osisko Metals, visit www.osiskometals.com
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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.
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President & CEO
Osisko Metals Incorporated
Director, Investor Relations
Osisko Metals Incorporated