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Osisko Metals Announces the Re-Start of Drilling at Pine Point
MONTREAL, July 14, 2021 (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, July 14, 2021 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Company\" or \"Osisko Metals\") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce the start of a 13,000 metres summer-fall drill program at its Pine Point Project, located in the NWT. This drill program will mainly comprise of continued infill drilling designed to support the conversion of current Inferred Mineral Resources to the Indicated category. A number of these holes will be multipurpose and will include hydrogeological characterization of water flow in the dolomite host rock in areas not previously investigated on the project. In addition to drilling, re-logging and re-assaying of historical Cominco drill core has been ongoing since June. Objectives: Where summer access is available, continue to drill to approximately 30-metre spacing within pit-constrained and underground Inferred Mineral Resources as defined in the 2020 Preliminary Economic Assessment (2020 PEA). This spacing will meet the criteria for conversion of Inferred Mineral Resources to the Indicated category; Further characterize subsurface water flow characteristics in the eastern portion of the Pine Point Camp. This information will provide a comprehensive hydrogeological foundation when combined with the previously completed testing (see press release dated June 2, 2021) and re-evaluation of significant dewatering costs in the 2020 PEA. Jeff Hussey, President & COO, commented: “The updated PEA, slated for Q1 2022, will represent another major advancement for the Pine Point project. The new hydrogeological model will underpin reduced CAPEX and OPEX while the updated Mineral Resource is expected to provide a stronger base for project planning. Pine Point will be one of the most advanced zinc development projects globally and will stand out as a potential producer of ultra-clean zinc concentrate. As the need for sustainable infrastructure increases through government-backed, post-pandemic stimulus funding, the demand for zinc is expected to increase, adding pressure to decreasing global zinc production.” Qualified Person Mr. Robin Adair is the Qualified Person and the Vice President Exploration for Osisko Metals Incorporated. He is a Professional Geologist registered in the Northwest Territories. About Osisko Metals Osisko Metals Incorporated is a Canadian explo...