Intersects 10.7m Grading 10.75% Zinc + Lead In NWT
Osisko Metals Incorporated (TSXV: OM; OTCQX: OMZNF) ; FRANKFURT: 0B51) has received promising initial results from the current in-fill and hydrogeological drill programme at its Pine Point Project, located in the North West Territories (NWT), Canada.
Results are from the Z60 deposit in the North Trend where mineralisation surpassed expectations with development of local prismatic-style mineralisation in drill hole Z60-21-PP-001 and -006.
The higher-grade prismatic-style intercepts and neighbouring tabular mineralisation are associated with a fault trending South-West to North-East. Other holes returned grades consistent with previous historical intercepts. Mineralisation is open along strike and presents excellent exploration potential.
Shallow mineralisation was intersected between 18 and 37m vertical depth. Highlights include:
- Drill hole Z60-21-PP-006 intersected 10.70m grading 10.50% Zn and 0.25% Pb (10.75% Zn+Pb) in a prismatic build-up of mineralisation.
- Drill hole Z60-21-PP-001 intersected 4.5m grading 17.95% Zn and 2.25% Pb (20.20% Zn+Pb) in prismatic-style mineralisation.
President and COO, Jeff Hussey, said the results provide infill spacing required for the Z60 deposit to meet the Indicated Resource category threshold as defined in the 2020 PEA and confirmed historical data. Further assay results are pending.
“The presence of locally occurring shallow prismatic-style mineralisation adds more upside to our definition drilling programme and I look forward to regular results now that drilling has resumed,” Mr Hussey said.
“Regarding ongoing hydrogeological studies, we will be releasing our initial findings in October. We anticipate significantly reduced operating and sustaining capital expenditures for water management, relative to the base case study concept used in the 2020 PEA.”
Hydrogeological Programme Update
Initial results from the hydrogeological testing program are expected to be released in the coming weeks. Testing continues and will include two holes from the Z60 deposit.
The current infill programme includes approximately 25 additional holes that will be lined with perforated PVC casing that is installed prior to flow tracing.
Tracer tests on all holes slated for early fall will measure water flow and that dataset will be added to the modelling process.
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