Business
Osisko Metals Outlines Significant Reduction in Dewatering Requirements at Pine Point
MONTREAL, Oct. 27, 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, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the \"Company\" or \"Osisko Metals\") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to provide positive results from the ongoing hydrogeological modelling and its application to dewatering costs at the Pine Point Project, located in the NWT, Canada. A new 3D hydrogeological model was created and has yielded significant reductions in the estimated water inflow rates into the proposed open pit and shallow underground mines, relative to the estimates in the July 2020 PEA study. Reduction in dewatering costs was estimated for a portion of the project, specifically in a sub-zone of the Main Zone known as the C1 Cluster, which includes, potentially, three open pit and two underground production areas. Highlights: New data confirms that underground water flow at Pine Point is preferentially controlled by subvertical structural discontinuities such as fracture zones or low-displacement faults, with little evidence for significant ground water flow from formational aquifers in either the Sulfur Point or Pine Point Formations. Potential for significant reductions in Operating and Sustaining Capital Expenditures associated to dewatering over the Life of Mine (“LOM”) in the 2020 PEA economic model for the Pine Point project. Q1 2022 PEA Update will incorporate the new 3D hydrogeological model, dewatering volume estimates and all associated cost reductions. The cost reductions are achieved by the aggregate effect of dewatering across all six production areas in the C1 Cluster; since dewatering in the deepest area will reduce the amount of ground water to be extracted from adjacent production areas. The ultimate objective is to focus on a given cluster to maximize mining efficiency and thereby reduce the volumes of water to manage. The integrated mining and hydrogeological modelling will be an iterative process. As the 2021 field data is being integrated into the model, the same analysis will then be applied to all ten pit clusters on the project. The results will be included in the PEA Update scheduled for release in Q1 2022. Robert Wares, Chairman & CEO, commented: “The 2021 hydrogeological modelling confirms that discrete faults, and not continuous formational aquifers, control water inflow in the mineralized horizon at Pine Point. This is very different f...