Company News – Wed 11 Apr, 2018

Osisko Metals Announces 17.15 % Zinc+Lead Over 11.0 Metres at Gilmour South

Here are the latest drill results from Osisko Metals. This Company has going for it in terms of a 100,000 meter drill program on a couple large land packages in the Bathurst area and in the NW Territories. I recommend listening to the most recent interview (linked below) to get a better understanding of the overall Company.

Click here to listen to my recent interview with the President and CEO Jeff Hussey.

…Here’s the news…

MONTREAL, April 11, 2018 — Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB51) is pleased to announce additional results from its drill program on the Gilmour South Project located 40 kilometres southwest of Bathurst, New Brunswick. Drill hole GS-18-19 intersected 13.76% Zn, 3.39% Pb, 0.23% Cu and 50.81g/t Ag over 11.00 metres within the targeted massive sulphide trend that now clearly links previous and historical intercepts not previously interpreted as a continuous zone. Additional results reported here suggest that the thicker massive sulphide portion of the trend extends over a lateral strike length of 420 metres as one continuous zone. See longitudinal map here.

Table 1: Drill hole assay results

Hole No. From (m) To (m) Drill width(m)* Zn (%) Pb (%) Cu (%) Ag (g/t) Au (g/t)
GS-17-07A 626.65 633.30 6.65 3.48 0.51 0.37 18.77 0.28
GS-17-09 607.35 609.60 2.25 4.85 1.42 0.25 0.02 0.37
GS-18-11 668.33 672.70 4.37 5.35 1.93 0.28 16.87 0.29
GS-18-12A 629.00 630.00 1.00 0.15 0.01 0.16 0.00 0.01
GS-18-14 559.30 560.30 1.00 0.01 0.00 0.00 1.10 0.00
GS-18-15 790.73 791.30 0.57 0.49 0.06 0.84 1.20 0.00
GS-18-16 907.50 908.00 0.50 0.03 0.00 0.76 1.80 13.00
GS-18-17 584.00 591.00 7.00 0.95 0.15 0.03 2.77 0.03
GS-18-19 674.80 685.80 11.00 13.76 3.39 0.23 50.81 0.23

* True width is approximately 87% of core width unless otherwise noted

Jeff Hussey, President and CEO of Osisko Metals, commented: “The Gilmour South drill program has developed nicely since the start in Q3 2017. Previously interpreted as 3 lenses of mineralization, the exploration team has re-interpreted them into one larger zone that extends over 1.4 kilometres. Drill hole GS-18-19 opens up potential to expand the central thicker portion of the deposit boundary, that is mentioned above, further southward. As drilling continues, this target area will be a high priority. We are continuing the compilation of recent results and planning of the extended drill program at Gilmour South.”

Qualified Person

Mr. Robin Adair is the Qualified Person responsible for the technical data reported in this nee ws release. He is a Professional Geologist registered in New Brunswick and is Vice President Exploration of Osisko Metals Incorporated.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from Osisko Metals were securely transported to its core facility in Bathurst, New Brunswick where they were logged and sampled. Samples selected for assay were shipped via secure transportation to Activation Laboratories preparation facility in Fredericton. Pulps were analyzed at Activation Laboratories facility in Ancaster, Ontario. Zinc, lead and copper were analyzed by assay grade peroxide fusion (total digestion) with ICP-AES finish. Silver was analyzed by gravimetric fire assay and gold by fire assay-atomic absorption.

About Gilmour South

The Gilmour South project hosts the “Brunswick Horizon” and is located 20km south of the former Brunswick No. 12 mine and 7 km south of the former Brunswick No. 6 Mine. These mines produced approximately 150 million tonnes of +12% zinc equivalent. Brunswick No. 12 was the largest underground zinc mine for nearly 50 years, processing 10,500 tonnes per day on average. Both mines occurred in structural corridors that enhanced the thickness and grade of the sulphide horizon.

The Brunswick Horizon is present at the Gilmour South property over a strike length of 2.7 kilometres based on host-rock types and alteration similar to the Brunswick Mines stratiform zinc-lead sulphide deposits otherwise known as the “Brunswick Horizon”.  Zinc and lead-bearing sulphide mineralization has been encountered over 1.4 kilometers of this strike length. Previously mineralization was not well-delineated and was investigated by relatively sparse historical drilling at approximately 200 metre centres.

About Osisko Metals

Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps, namely the development-stage Pine Point Camp (“PPC”) located in the Northwest Territories and the advanced-exploration Bathurst Mining Camp (“BMC”), located in northern New Brunswick. The Company is currently drilling in both camps a combined 100,000 metres that will focus on upgrading and expanding historical deposits, bringing high-priority targets into NI 43-101 compliance and conducting brownfield exploration using new innovative 3D techniques. In Québec, the Company owns 42,000 hectares that cover 12 grass-root zinc targets that will be selectively advanced through exploration. In parallel, Osisko Metals is monitoring several base metal-oriented peers for opportunities. Osisko Gold Royalties Ltd. (TSX:OR) (NYSE:OR) and Osisko Mining Inc. (TSX:OSK) are significant shareholders of the Company.

For further information on Osisko Metals, visit www.osiskometals.com or contact:
Jeff Hussey
President & CEO
Osisko Metals Incorporated
(514) 861-4441
Email: info@osiskometals.com
www.osiskometals.com
Christina Lalli
Director, Investor Relations
Osisko Metals Incorporated
(514) 861-4441
Email: info@osiskometals.com
www.osiskometals.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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, the use of proceeds of the Offering; the timing and ability of the Corporation, if at all, to obtain final approval of the Offering from the TSX Venture Exchange; an exemption being available under MI 61-101 and Policy 5.9 of the TSX Venture Exchange from the minority shareholder approval and valuation requirements for each related party transaction; 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 Corporation’s public documents filed on SEDAR at www.sedar.com. Although the Corporation 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 Corporation 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Table 2: Drill hole information and location in New Brunswick Double Stereographic Projection (NBS)

Hole Number Azimuth (degrees) Dip (degrees) Length (m) Easting Northing Elev.
NBS NBS (m)
GS-17-07A 85 -71 708.0 2,550,475 7,591,452 114.2
GS-17-09 78 -70 659.0 2,550,475 7,591,502 114.0
GS-18-11 85 -80 815.5 2,550,398 7,591,100 118.0
GS-18-12A 85 -70 674.0 2,550,479 7,591,552 118.0
GS-18-14 95 -70 753.3 2,550,580 7,590,565 115.1
GS-18-15 90 -83 818.0 2,550,410 7,591,915 121.0
GS-18-16 92 -80 1118.8 2,550,383 7,590,990 118.5
GS-18-17 80 -65 725.0 2,550,475 7,591,502 114.0
GS-18-18A 91 -80 926.5 2,550,398 7,591,100 118.1
GS-18-19 110 -79 758.0 2,550,550 7,591,346 112.6.

 


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