MONTREAL, QUEBEC--(Marketwired - Jan 17, 2018) - Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX VENTURE:OM)(0B5.F) is pleased to announce additional results from its drill program on the Mount Fronsac North Project located 60 kilometres west of Bathurst, New Brunswick. Drill hole MF17- 43 intersected 3.1 metres of 12.3% Zn and 5.4% Pb, and 91.9 g/t Ag, within 15.5 metres of semi massive to massive sulphides. The holes being reported tested the deposit at different elevations to better target high-grade zones within the deposit.
Drill hole MF17-46, encountered a 21.6 metre, (19.0m true thickness) predominantly copper rich massive sulphide zone from 363.8 to 385.4, which included 11.8 meters, grading 1.53% Cu, 0.43% Zn and 0.1% Pb. These copper rich massive sulphides are similar to historical drillhole MF00-26 that is located 300m to the north that intersected 1.84% Cu over 7.0 metres. Similar mineralization was also found in historical drill hole MF00-22, located 80 metres down dip, that intersected 2.3 metres of 1.44% Cu, 2.37% Zn, 1.07% Pb, 37.6 g/t Ag and 0.4 g/t Au.
This discreet copper rich zone is significant and it is being interpreted as a cupriferous massive sulphide lens rather than a copper rich stockwork feeder zone that typically underlie the massive sulphide lens. The results being announced are in Table 1 and more assay results are included in Table 2 below. Future drilling will continue to test the economic potential of this cupriferous massive sulphide lens to potentially build additional resources of economic interest.
| Hole No. | From
(m) | To
(m) | Drill width
(m) | Zn
(%) | Pb
(%) | Cu
(%) | Ag
(g/t) | Au
(g/t) |
| MF17-43 | 368.60 | 371.70 | 3.10 | 12.32 | 5.44 | 0.07 | 91.9 | 0.86 |
| MF17-43 | 382.60 | 384.10 | 1.50 | 3.44 | 0.52 | 0.01 | 2.8 | 0.18 |
| MF17-46 | 369.2 | 381.0 | 11.8 | 0.43 | 0.1 | 1.53 | 7.9 | 866 |
| Table 1: Drill hole assay results. |
Jeff Hussey, President and CEO of Osisko Metals, commented: "These higher-grade results are encouraging as we continue to drill within this historical deposit. The extension of the cupriferous massive sulphide lens adds a new interesting potential for Mount Fronsac North. Our objective is to continue defining and extending both massive sulphide lenses within the deposit boundaries. Additionally, it is interesting to see a thick section of barren sulphides associated with zinc-lead rich zones as this is a feature typical of some of the larger volcanogenic massive sulphide systems in the camp."
The results being announced are illustrated on the inclined longitudinal section linked here. Drill hole MF17-43 and MF17-44 intersected the deposit half way in between drill holes MF00-31Wedge and MF00-29Wedge (these results were released on December 6th, 2017).
More assays from this strongly mineralized zone are included in Table 2 below along with results from MF17-44 that contained 13.2 metres of predominantly massive sulphides.
About Mount Fronsac North
The Mount Fronsac North deposit contains a historical, non-NI43-101 compliant, unclassified resource of 1.26 million tonnes grading 7.65 % Zn, 2.18 % Pb, 0.14% Cu, 40.3 g/t Ag, and 0.40 g/t Au. This high-grade deposit is hosted within approximately 14 million tonnes of low-grade, semi-massive (>60%) to locally massive sulfides that occur in an envelope of quartz-sericite ± chlorite schist.
The deposit has a north-south strike length of 525 metres and a down dip length of 600 metres. Thickness varies between 2 to 20 metres. The alteration and disseminated mineralization halo has a maximum thickness of 140 metres and contains up to 50 percent fine to coarse-grained disseminated pyrite. The pyritic envelope is 900 metres long and extends down dip over 1,000 metres. Massive sulfides are found throughout this alteration envelope, but preferentially occur at or near the upper contact.
| Hole No. | From
(m) | To
(m) | Interval
(m) | Zn
(%) | Pb
(%) | Cu
(%) | Ag
(g/t) | Au
(ppb) |
| MF-17-43 | 333.8 | 334.4 | 0.60 | 3.61 | 1.1 | 0.0 | 11.0 | 41 |
| MF-17-43 | 337.0 | 337.9 | 0.90 | 3.56 | 1.5 | 0.0 | 29.0 | 108 |
| MF-17-43 | 349.7 | 350.6 | 0.90 | 6.43 | 0.15 | 0.18 | <3 | 409 |
| MF-17-43 | 357.7 | 358.0 | 0.30 | 5.61 | 2.57 | 0.09 | 72.0 | 272 |
| MF-17-43 | 360.6 | 361.0 | 0.40 | 8.4 | 2.57 | 0.07 | 84.0 | 98 |
| MF-17-43 | 368.6 | 371.7 | 3.1 | 12.32 | 5.44 | 0.07 | 91.9 | 864 |
| MF-17-43 | 382.6 | 384.1 | 1.5 | 3.44 | 0.52 | 0.01 | 2.8 | 185 |
| MF-17-44 | 309.0 | 310.3 | 1.3 | 3.36 | 1.39 | 0.01 | 18.5 | 40 |
| MF-17-44 | 335.0 | 335.8 | 0.80 | 2.94 | 1.7 | 0.01 | 18.0 | 139 |
| MF-17-44 | 393.7 | 394.7 | 1.00 | 2.85 | 1.16 | 0.01 | 7.0 | 51 |
| MF-17-46 | 369.2 | 381.0 | 11.8 | 0.43 | 0.1 | 1.53 | 7.9 | 866 |
| MF-17-46 | 384.0 | 385.4 | 1.4 | 2.75 | 0.55 | 0.12 | 7.0 | 971 |
| MF-17-46 | 412.0 | 412.4 | 0.4 | 6.38 | 2.77 | 0.02 | 22.3 | 20 |
| Table 2: Mount Fronsac North Assays |
| | | | | | |
| Hole Number | Azimuth
(degrees) | Dip
(degrees) | Length (m) | Easting
NBS | Northing
NBS |
| MF17-43 | 268 | -72 | 482.4 | 2511561 | 7601573 |
| MF17-44 | 267 | -61 | 446.0 | 2511561 | 7601573 |
| MF17-45 | 268 | -77 | ABANDONED | 2511471 | 7601733 |
| MF17-46 | 268 | -77 | 701.0 | 2511471 | 7601733 |
| MF17-47 | 268 | -62 | 623.0 | 2511632 | 7601811 |
| Table 3: Drill hole information and location in New Brunswick Double Stereographic Projection (NBS) |
Qualified Person
Mr. Gary Woods is the Senior Exploration Manager for Osisko Metals Incorporated and a Professional Geologist registered in New Brunswick. He is the Qualified Person responsible for the technical data reported in this news release.
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 were securely transported to its core facility in Bathurst New Brunswick 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 Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with an emphasis on zinc. To date, the Company has consolidated over 63,000 hectares in the Bathurst Mining Camp ("BMC") in which it is focused on upgrading and expanding 6 historical deposits. The objective is to develop a multi-deposit asset base that could feed a central concentrator. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel, Osisko Metals is monitoring several base metal oriented peers for projects and acquisition opportunities. Osisko Gold Royalties Ltd. (OR.TO)(OR) and Osisko Mining Inc. (OSK.TO) are significant shareholders of the Company.
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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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