In addition to precious metal stocks, you should also have the base metal companies on your radar! Especially when the companies come up with good news, like recently for example Osisko Metals!
The Canadian Explorer Osisko Metals Inc. (ISIN: CA6882741094 / TSX-V: OM), is focused on the exploration of high grade zinc minerals and has done so very successfully. Only now has the company again presented top results from the ongoing drilling program from its 100% own ‘Pine Point’ project in Canada’s Northwest Territories!
Canada’s leading zinc projects in one hand!
Osisko Metals properties are, on the one hand, the ‘Pine Point Mining Camp’, which is located on the south bank of the ‘Great Slave Lake’ and according to the pre-feasibility study already has a net present value (‘NPV’) after taxes of 500 million CAD and an internal rate of return (‘IRR’) of 29.6%! When it goes into production, the proposed mine will become the fourth largest in America and the ninth largest in the world, producing high grade zinc and lead concentrates.
Source: Osisko Metals
‘Pine Point’ already houses one ‘Indicated’ mineral resource of 12.9 million tons of ore with an average grade of an extremely high 6.29% zinc equivalent (ZnEq). There are also around 37.6 million tonnes in the ‘inferred’ category, grading 6.80% ZnEq.
Source: Osisko Metals
The company’s other major property is the Bathurst Mining Camp in north New Brunswick. This project has an ‘Indicated’ Mineral Resource of 1.96 million tons of ore grading 5.77% zinc, 2.38% lead, 0.22% copper and 68.9 g / t silver (9% ZnEq) and an ‘inferred’ mineral resource of 3.85 million tonnes grading 5.34% zinc, 1.49% lead, 0.32% copper and 47.7 g / t silver (7.96% ZnEq) in the Key Anacon and Gilmour South deposits.
Source: Osisko Metals
The company recently announced that the first results from four holes drilled in the central zone of the ‘O53’ deposit are now available. In addition to the excellent results, with 11.53% Zn and 2.52% Pb in borehole O53-20-PP-001 over 17.5 m and 23.90% Zn and 6.24% Pb in borehole O53-20-PP-012 over 28.80 m, get the geologists too important information about the vertical extent of the prismatic mineralization in the core of the deposit!
In addition, the O53-20-PP-012 well extends the high-grade prismatic mineralization by approximately 10 m below the currently modeled pit boundary in the immediate vicinity of the borehole. The ‘O53’ deposit so far has a strike length of 313 m, an average width of 50 m and a near-surface maximum depth of only 63 m.
Hole O53-20-PP-003 even suggests additional mineralization that may be 135 meters west of the ‘O53’ deposit. If so, Osisko Metals would have discovered a new Discovery that is far beyond the current mine limits! So there is the possibility of a new depot, with strong potential in the depths and to the west!
Delighted with these prospects and the impressive high-grade drill results on the prismatic deposit ‘O53’, President and COO Jeff Hussey said:
“Visual estimates in the holes with pending assay results confirm that the mineralization in this area remains open. At the regional level, we have defined numerous goals, which in the resource model house around ten additional deposits. “
Such statements illustrate the enormous potential for new discoveries and a continuous expansion of resources on the entire ‘Pine Point’ project. For shareholders of the company, this means that one can continue to count on excellent results and that the company could even be re-evaluated at short notice!
Source: Osisko Metals
The remaining holes O53-20-PP-002, -005, -013 and -014 also intersected mineralization of semi-massive sulphide mineralization over 0.3 to 2 meters that was partially patchy. Further drilling is to follow here.
Source: Osisko Metals
Drilling since August 30th is currently focused on expanding the high grade mineralization in areas of prismatic and tabular deposit potential in the Central and East Mill Zones. In addition, a geophysical ‘IP’ survey has commenced, which was compiled on the basis of data from the modeling of gravity gradiometry (‘LiDAR’) as well as structural analyzes and historical drilling. Since this study is also an area with a lot of potential, the evaluation will be correspondingly exciting!
Another ten holes have also already been completed, the drill cores of which are still in the test laboratory. The company expects further results to arrive very soon, which is why Osisko Metals shareholders are now in for a “hot news autumn”! Because from now on, new results can be published almost every day and further drilling can be completed, which can justify a reassessment!
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