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Osisko Metals Announces Maiden Resource at Gaspé Copper - Inferred Resource of 456Mt Grading 0.31% Copper
MONTREAL, April 28, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased
About this update from Osisko Metals Incorporated
[{"type":"text","content":" MONTREAL, April 28, 2022 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Company\" or \"Osisko Metals\") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce an initial Inferred Mineral Resource Estimate at Mount Copper as part of the Gaspé Copper Project, located near Murdochville in the Gaspé Peninsula of Quebec. This resource is pit-constrained to mineralization surrounding the past-producing Mount Copper open pit mine (“Mount Copper Expansion Project”) and uses a base case of US$3.80/lb copper and a lower cut-off grade of 0.16% sulfide copper. It was estimated using data from historical drilling completed between the 1960’s and 2019. Table 1: Mineral Resource Estimate Base Case Classification Tonnage Grade Copper Strip Ratio Contained Copper Metal* Total (%)* Sulfide (%) Pounds Metric Tonnes Inferred 456 Mt 0.351 0.310 1.98 3,113,000,000 1,412,000 The Independent QP for this Mineral Resource Estimate statement is Yann Camus, P.Eng., Geological Services of SGS Canada Inc. The effective date is April 12, 2022. CIM (2014) definitions were followed for Mineral Resource Estimate. No economic evaluation of the Mineral Resource Estimate has been produced. SGS is not aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issues that could materially affect the Mineral Resource Estimate. All reported figures are rounded to reflect the relative accuracy of the estimate. Totals may not add up due to rounding. *Total copper includes acid-soluble oxidized copper plus sulfide copper. Contained copper includes sulfide copper only. Highlights: At 1.41 million tonnes (3.1 billion pounds) of contained copper, the Mount Copper Expansion Project hosts the largest untapped copper resource in Eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec. The mineralization geometry surrounds the former open pit mine with a strip ratio that is currently estimated at 1.98. The Whittle pit-constrained Mineral Resource Estimate is limited to the sulfide copper mineralization only that surrounds the Mount Copper historical open pit. All oxide mineralization is being treated as zero value waste at the present time. The current 30,000 metre drill program may reduce strip ratio, reduce the oxide/sulfide ratio in th...