Osisko Metals (TSXV: OM) is expanding its zinc footprint to northern Canada in a $35 million deal to acquire Pine Point Mining (TSXV: ZINC) and its Pine Point project near Hay River in the Northwest Territories.
Pine Point – once Canada’s most profitable zinc-lead mine – produced nearly 64 million tonnes of ore from 52 deposits between 1964 and 1987. Another 46 deposits on the property were identified but never put into production.
The acquisition, combined with Osisko Metal’s 50,000-hectares of zinc properties in New Brunswick’s Bathurst Mining Camp, gives the junior exploration and development company control over two world-class past-producing base metal camps.
Continue reading at The Northern Miner.