Osisko Metals hits 23% and 32% Zn+Pb in definition drilling at Pine Point

Osisko Metals  (TSXV: OM; OTC: OMZNF) continues its definition drilling program at the Pine Point zinc-lead project near Hay River in the […]
Pine Point, which could become one of the 10 largest zinc producers in the world. Credit: Osisko Metals

Osisko Metals  (TSXV: OM; OTC: OMZNF) continues its definition drilling program at the Pine Point zinc-lead project near Hay River in the Northwest Territories on a spacing of approximately 30 metres.

Highlights of recent drilling include 1.0-metre intersections of 6.80% zinc and 2.58% lead (9.38% Zn+Pb), 25.80% zinc and 6.84% lead (32.65% Zn+Pb), 12.87% zinc and 1.32% lead (14.19% Zn+Pb), and 9.94% Zn and 13.66% lead (23.61% Zn+Pb).

Osisko produced a preliminary economic assessment for the former producing property earlier this year. The project has an after-tax net present value of $603 million and internal rate of return of 25%. The near surface indicated resource is 15.8 million tonnes grading 4.2% zinc and 1.5% lead. The inferred resource is 47.2 million tonnes grading a4.4% zinc and 1.7% lead.

The company believes Pine Point could become one of the top 10 global zinc producers with premium high-0grade clean zinc concentrate. The mines at Pine Point previous operated from 1964 to 1989 under the ownership of Cominco.

Learn more about Pine Point and Osisko’s Gaspe copper project in Quebec on www.OsiskoMetals.com.

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