Drill core from the Pine Point zinc-lead project. (Image: Osisko Metals)
NORTHWEST TERRITORIES – Montreal-based Osisko Metals has signed two separate co-operation agreements that cover its Pine Point zinc-lead project 65 km east of Hay River. The company, the Deninu Kue First Nation, and the Northwest Territory Metis Nation have agreed to promote a mutually respectful relationship governing exploration and development activities.
The terms of the agreements cover education and training, employment, business and contracting opportunities, information sharing and site visits. Broad outlines of topics for future co-operation are also mentioned.
Osisko Metals president and CEO Jeff Hussey said, “We are very happy to announce these two agreements with the Indigenous communities that live near the portion of the Pine Point Project located east of the Buffalo River. This is where Cominco Limited operated the mining complex for close to twenty-five years and where most of our pit-constrained zinc-lead mineral resources are located. We also look forward to continuing discussions with other local communities regarding the project.”
The Pine Point project includes up to 50 individual open pits. Osisko’s 2018 inferred resource is 38.4 million tonnes grading 4.58% zinc and 1.85% lead or 6.58% zinc equivalent. The project contains 3.9 billion lb. of zinc and 16.0 billion lb. of lead.
The 43-101 report is posted at www.OsiskoMetals.com.