Osisko Metals (TSXV: OM; US-OTC: OMZNE) is advancing the Gaspé copper project in Quebec with more drilling, community consultations and a preliminary economic assessment starting this year, CEO and chairman Robert Wares says in a new video.
“It’s going to be a busy year and we’re fully financed to carry on,” Wares says in an interview with The Northern Miner’s Western editor, Henry Lazenby. “It’s going very well, no red flags, so we’re very happy with this acquisition.”
The company estimates the project, about 575 km northeast of Quebec City, is the biggest undeveloped copper asset east of the Mississippi. It holds 495 million indicated tonnes grading 0.3% copper, 0.016% molybdenum and 1.75 grams silver per tonne, Osisko said May 6. The resource contains 3.2 billion lb. copper, 180 million lb. molybdenum and 27.9 million oz. silver.
Wares, part of the team that developed the Canadian Malartic gold mine in Quebec to be one of country’s largest, also spoke of Osisko’s Pine Point zinc-lead former mine in the Northwest Territories. London-based private equity firm Appian Capital Advisory plans to spend $100 million to hold 60% of the project.
The CEO and editor chatted during the Energy Transition Metals Summit in Washington, D.C. last month. The Northern Miner Group event ran in coordination with Precious Metals Summit Conferences. Watch the full video below.
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