Osisko Metals cuts 0.59% copper over 211 metres at Gaspe

Good grades are the norm as drilling continues at Osisko Metals’ (TSX: OM; OTCQX: OMZNF) at the historic Gaspe copper mine. The latest assays include 211 metres averaging 0.59% copper, including 285 metres averaging 2.31% copper and 11.8 g/t silver. The property is located near Murdochville, in the Gaspe Peninsula of Quebec.

The latest results come include 28 intercepts from 12 holes located outside the resource estimate published last year. The findings may point towards in-pit expansion as waste is converted into resources or an out-of-pit expansion.

Osisko Metals CEO Robert Wares said the assays are, “Another series of excellent results from the north slope of Needle Mountain, including particularly two high-grade intercepts in holes 30-1236 and 30-1243, both located 500 to 600 metres west of the 2026 MRE model.”

The two noted holes were drilled out of the pit model and are as follows:

• Hole 30-1236 returned 86.5 metres at 1.36% copper, including 28.5 metres at 2.31% copper and 11.8 g/t silver.
• Hole 30-1243 returned 211 metres at 0.59% copper, including 28.5 metres at 2.31% copper and 11.8 g/t silver.

“The mineralized system continues to show grade improvement in the area around Needle Mountain, and we are confident that these mineralized zones will be included in a westerly pit expansion in the next resource update,” Wares added.

The Gaspe copper deposit was discovered in 1921. It produced copper concentrates continually from 1955 until it closed in 1999. The metals are found in a porphyry copper/skarn complex.

The resource estimate was updated in April this year. The measured and indicated porting was reported as 1.83 billion tonnes averaging 0.27% copper, 0.017% molybdenum and 1.57 g/t silver containing 10.83 billion lb. of copper. The inferred material totaled 238.8 million tonnes at 0.41% copper 0.016% molybdenum and 1.57 g/t silver, containing almost 2.16 billion lb. of copper. A copper equivalent cut-off of 0.16% was used in the calculations.

Details of the latest drill results are available in Osisko’s news section at www.OsiskoMetals.com.