Exciting Drill Results from Gaspé Copper Project
MONTREAL — Osisko Metals Incorporated, commonly known as Osisko Metals, is thrilled to share the latest results from its ongoing drilling operations at the Gaspé Copper Project in Eastern Québec. The CEO, Robert Wares, expressed his excitement about the results, stating, “Drill hole 30-1097 has produced the longest intersection we have recorded to date, revealing 1117 metres of continuous mineralization from the summit of Copper Mountain. Currently, we have a robust team of 10 drills on site and have completed over 65,000 metres of our extensive drill program, which is scheduled to continue until December. The updated Mineral Resource Estimate (MRE) is anticipated to be released in early next year.”
Significant Analytical Findings
The new drill results indicate an impressive 19 mineralized intercepts derived from 6 new drill holes. The infill intercepts are positioned within the 2024 MRE model and aim to convert inferred resources to measured or indicated categories. Additionally, expansion intercepts are located beyond the current resource model, with the potential to create further resources, which will be appropriately categorized in the next MRE update. The notable drill hole intersections are listed below:
- Drill hole 30-1097: 1117.5 metres with an average of 0.25% Cu (includes both infill and expansion)
- Drill hole 30-1100: 228.5 metres averaging 0.25% Cu (both infill and expansion)
- Drill hole 30-1101: 148.5 metres averaging 0.32% Cu (infill)
- Drill hole 30-1104: 792.0 metres averaging 0.20% Cu (both infill and expansion)
- Drill hole 30-1105: 110.5 metres averaging 0.20% Cu (infill)
Details of Drill Intersections
Drill hole 30-1097 revealed notable mineralization, showcasing an impressive average of 0.25% Copper, 0.022% Molybdenum, and 1.81 grams per tonne Silver, with significant expansion findings reaching a depth of 1,204 metres below the surface. Similarly, Drill hole 30-1100 encountered five separate mineralized intervals, including 228.5 metres averaging 0.25% Copper, confirming the resource's potential expansion beyond previous estimates.
Both Drill holes 30-1101 and 30-1102 confirmed multiple shorter mineralized segments, reaffirming the defined boundaries of the eastern margin in the 2024 MRE model. Meanwhile, Drill hole 30-1104 contributed significantly to the resource definition, extending mineralization at this site to a vertical depth of 969 metres.
About Osisko Metals and the Gaspé Project
Osisko Metals is dedicated to exploration and development in the critical metals sector, primarily focusing on Copper and Zinc. The company has made substantial investments in the Gaspé Copper Project, previously owned by Glencore Canada Corporation. The Gaspé Copper Project is known for housing the largest undeveloped copper resource in eastern North America, strategically located near essential infrastructure. Osisko Metals is vigorously working on expanding resources within the project, boasting indicated Mineral Resources of 824 million tonnes with an average of 0.34% Copper Equivalent and inferred resources totaling 670 million tonnes averaging 0.38% Copper Equivalent.
Moreover, in addition to the Gaspé Copper project, Osisko Metals is collaborating with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture, focusing on advancing one of Canada's significant zinc mining operations.
Future Outlook
As the current drilling program continues to reveal promising results, Osisko Metals is strategically focused on deepening mineral resource evaluations and potentially expanding the resource footprint of the Gaspé Copper system. Continuous exploration efforts are expected to lead to further updates in the mineral resource evaluation by early next year.
Frequently Asked Questions
What recent results did Osisko Metals announce?
Osisko Metals announced significant drill results from the Gaspé Copper Project, highlighting 1117.5 metres averaging 0.25% Copper in drill hole 30-1097.
How many drill holes were reported in the recent announcement?
A total of 6 new drill holes were reported in the latest findings.
What is the purpose of the ongoing drill program?
The ongoing drill program aims to upgrade inferred resources to measured or indicated categories and expand the existing resource model.
What types of minerals are primarily found in the Gaspé Copper Project?
The Gaspé Copper Project primarily contains Copper, Molybdenum, and Silver mineralization.
What is the company's focus besides the Gaspé project?
In addition to the Gaspé Copper Project, Osisko Metals is working on the Pine Point project in partnership with Appian Capital Advisory LLP, which targets one of Canada’s largest zinc mining camps.
