Osisko Metals Announces 10.16 % Lead+zinc over 11.4 Metres at Gilmour South Indicating a Growing Trend of Massive Sulphides
OSISKO METALS ANNOUNCES 10.16 % LEAD+ZINC OVER 11.4 METRES AT GILMOUR SOUTH
INDICATING A GROWING TREND OF MASSIVE SULPHIDES
(Montreal – January 30, 2017) Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:
OM; FRANKFURT: 0B5) is pleased to announce new drill results from the Gilmour South project located
35 km south west of Bathurst, New Brunswick. Drill hole GS- 17-02 intersected 7.74% Zn; 2.42% Pb;
0.48% Cu; 79.34g/t Ag and 0.24g/t Au over 11.40 metres in a previously unrecognized massive
sulphide extension of the deposit. Diamond drill hole GS-17-05A intersected 7.11% Zn, 1.25% Pb,
0.36% Cu, 32.48g/t Ag and 0.25g/t Au over 8.50 metres within 22.9 metres of massive sulphides in
an 88-metre step-out from hole GS- 00-38 that intersected similar grade. Wedge cut GS-00-38W1
intersected 8.03% Zn, 1.20% Pb, 0.35% Cu, 0.03g/t Ag over 5.1m in proximity to the parent hole .
These last two holes are located on the southern end of the deposit.
These results are of particular importance as the goal of these planned drill targets is to link significant
historical massive sulphide intercepts and other holes containing mineralization indicators that occur at both
ends of the strike of a potential deposit. Widely-spaced historical intercepts were not previously interpreted
as one continuous zone. Results reported here suggest that the thicker massive sulphide trend extends
over a lateral strike length of 420 metres , between holes GS-00-38 and GS -99-22 with the potential to
extend the deposit boundary further. Ongoing drilling and planned drill holes will continue to test these
target areas (Click here to see Longitudinal Section Map).
Jeff Hussey, President and CEO of Osisko Metals, commented: “We are excited by the success of the
drilling program which continues to duplicate historical results and is giving evidence of an extension of the
north-south trend of the deposit. Massive sulphides are showing lateral continuity and increased
thicknesses and grades.”
Highlights:
Hole No. From (m) To (m) Width
(m) Zn (%) Pb (%) Cu (%) Ag (g/t) Au
(g/t)
GS-17-02 622.60 634.00 11.40 7.74 2.42 0.48 79.34 0.24
and 640.80 642.10 1.30 9.51 2.83 0.15 28 0.37
GS-17-05A 702.00 710.65 8.50 7.11 1.25 0.36 32.48 0.25
GS-00-38W1 760.50 765.60 5.10 8.03 1.2 0.35 0.03 0.39
Drill hole GS-17-03 intersected the horizon up-dip from the sulphide trend and encountered a wide interval
of stringer and disseminated mineralization. Hole GS-17-06 intersected the edge of the zone down -dip of
the northern projection of the sulphide trend and intersected intermittent massive sulphides at the target
(See Table 1 below).
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Historical drilling on the project tested only the up-dip and down-dip regions of the trend at spacing ranging
from 100-200 metres with local spacing of 60 metres.
Drilling is also testing the continuation of other historical intercepts of zinc and lead -bearing massive
sulphides in the Gilmour South area. GS-00-33W1 was drilled as a wedge test of mineralization intersected
in the parent hole. This drill hole is the beginning of an investigation of a new potential area for exploration
focus that is located north and down dip of the mineralized trend described above.
Hole No. From
(m) To (m) Width
(m) Zn (%) Pb (%) Cu (%) Ag (g/t) Au (g/t)
GS-17-02 622.60 634.00 11.40 7.74 2.42 0.48 79.34 0.24
and 640.80 642.10 1.30 9.51 2.83 0.15 28 0.37
GS-17-03 580.30 580.90 0.60 0.86 0.25 0.01 0 0.03
GS-17-05A 702.20 710.65 8.45 7.11 1.25 0.36 32.48 0.25
GS-17-06 614.10 616.65 2.05 1.84 1.19 0.01 2 0.02
GS-00-
33W1 644.12 648.90 4.78 2.6 0.95 0.07 1.24 0.02
GS-00-
38W1 760.50 765.60 5.10 8.03 1.2 0.35 0.03 0.39
Table 1: Drill hole assay results. True widths reported above are estimated to be approximately 90% of the
drilled widths reported.
Hole
Number
Azimuth
(degrees)
Dip
(degrees)
Length
(m)
Easting Northing
NBS NBS
GS-17-02 102 -75.5 698.5 2550549 7591343
GS-17-03 91 -75.3 689.5 2550549 7591344
GS-17-05A 91 -84 867.5 2550383 7591050
GS-17-06 91 -84 656 2550475 7591447
GS-00-
33W1 91 -84 241.0* 2550453 7591794
GS-00-
38W1 100.5 -79 235.0* 2550383 7591050
Table 2: Drill hole information and location in New Brunswick Double Stereographic Projection (NBS) .
* Wedge cut. Length is reported for the length of hole drilled after the wedge-off point in the original hole.
Coordinates are based on new surveyed collar locations.
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. Brunswi ck 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.
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The Brunswick Horizon is present at Gilmour South over 1.4 kilometers and is characterized by sulphide
mineralization, host-rock types and alteration similar to the Brunswick Mines stratiform zinc -lead sulphide
mineralization otherwise known as the “Brunswick Horizon”. Mineralization has not been well -delineated
and has been investigated by relatively sparse historical drilling at approximately 200 metre centres. (Click
here to see location of Gilmour South)
Qualified Person
Mr. Robin Adair is the Qualified Person responsible for the technical data reported in this news 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 Osisko Metals
Osisko Metals is a Canadian exploration and development company creating value in the base metal space
with an emphasis on zinc mineral assets. To date, the Company has consolidated over 63,000 hectares in
the historical world-class Bathurst Mining Camp (“BMC”), located in northern New Brunswick, in which it is
focused on upgrading and expanding 6 historical deposits. The Company is also aiming to complete the
acquisition of Pine Point Mining (previously announced) during the first quarter of 2018, which will give it a
100% interest in the historical Pine Point mining camp located in the Northwest Territories of Canada. The
Company’s strategy in both mining camps is to develop a multi-deposit asset base that could feed a central
concentrator. 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 projects and acquisition opportunities. Osisko Gold Royalties Ltd. (TSX/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: [email protected]
www.osiskometals.com
Christina Lalli
Director, Investor Relations
Osisko Metals Incorporated
(514) 861-4441
Email: [email protected]
www.osiskometals.com
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