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2019 Highlights:
- On
November 13 th, the Company released a NI43-101 near-surface Inferred Mineral Resource Estimate (“MRE”) of 52.4 million tonnes grading 4.64% zinc and 1.83% lead (6.47% ZnEq) that contains 5.3 billion pounds of zinc and 2.1 billion pounds of lead in situ. This is a 36% increase over the previous 2018 MRE at a similar grade. Over 90% of the quoted resource base is pit-constrained. - On
December 19 th, the Company announced the purchase of the pre-existing 3% NSR royalty payable to Karst on thePine Point Project . With the concurrent sale of a 1.5% royalty to Osisko Gold Royalties, the total encumbrance on the project was decreased by 50%. - On
September 30 th, Collaboration Agreements betweenOsisko Metals and the Deninu Kue First Nation and the Northwest Territory Metis Nation were signed. The parties entered into the agreements in order to promote a cooperative and mutually respectful relationship governing the proposed exploration and development activities in the area of Pine Point. Following the signing of these agreements,Osisko Metals was able to increase its mineral claim holding at Pine Point by over 100%. - On
February 20 th,Osisko Metals published a maiden MRE for the BMC project outlining 1.96Mt grading 9.00% ZnEq in the Indicated category and 3.85Mt grading 7.96% ZnEq in the Inferred category. Significant brownfield exploration potential exists at theTitan Zone where drill holes have intersected 75 metres of mineralization that is located 500 meters below the resource boundary.
H1 2020 Outlook:
PPMC
- The 2019 airborne gravity gradiometry survey was processed and integrated into the project database. Over 60 targets were identified across the core portion of the project (
East Mill ,North and Central Zone , Pine Point Property Map). These near-surface targets have never been drilled and were selected due to their geophysical similarities with known prismatic deposits at Pine Point. All will be drill-tested in H1 2020. - The 2019 MRE will form the mineral resource base of a forthcoming PEA that is expected to be released in Q2 2020, which is being prepared by
BBA Inc. , WSP, Golder and Tetratech in collaboration with theOsisko Gold Royalty Technical Services Group .
BMC
- A new lithologic model is being used in conjunction with the newly inverted Titan 24 survey to be the framework to establish deeper coincident geophysical anomalies to be drill tested along the prolific Brunswick Horizon.
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Note regarding mineral resources and Qualified Persons
Mr.
About
The mineral resources mentioned in this press release conform to NI 43-101 standards and were prepared by independent qualified persons, as defined by NI 43-101 guidelines. The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological grade and/or quality of continuity. Zinc equivalency percentages are calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs, smelter payable metals and charges (see respective technical reports for details).
For further information on | |
President & CEO (514) 861-4441 Email: info@osiskometals.com www.osiskometals.com |
Cautionary Note Regarding Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to objectives, goals or future plans; statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates; the preliminary nature of metallurgical test results; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; the other risks involved in the mineral exploration and development industry; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the
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