Osisko Metals shows ‘upside potential’ at Pine Point

Osisko Metals has released drill results from the East Mill zone at its Pine Point project with eight of the nine intercepts reported from outside of the current resource boundaries. This work was focused on connecting inferred resource areas.

Drill highlights include 12 metres of 9.46% zinc and 0.79% lead; 5 metres of 14.83% zinc and 4.45% lead; and 4 metres of 10.86% zinc and 4.44% lead.

“These results demonstrate the upside potential of Pine Point, not just in identifying new exploration targets, but also in expanding known mineralization across the project area,” Jeff Hussey, the company’s president and CEO, comments in a press release.

All of the intercepts reported are from vertical depths of 16 metres to 45 metres.

The exploration focus at Pine Point is on prismatic deposits, according to a December 2018 technical report. These are high grade, vertically continuous over up to 60 metres with typical widths of 15 metres to 50 metres.

Osisko plans to start drilling untested prismatic deposit gravity targets at the project in the coming days, and drilling is expected to continue into the first quarter of next year.

Based on a resource update released in November, Pine Point is host to an inferred resource of 52.4 million tonnes grading 4.64% zinc and 1.83% lead. The majority of the resource is pit constrained.

A large portion of the current resource is based on drilling previously completed by Cominco, who had different exploration objectives than Osisko.

Osisko Metals acquired the project in February 2018.