Osisko Metals Intersects 11.13% Zinc+Lead Over 6.40 Metres at Pine Point
Osisko Metals Intersects 11.13% Zinc+Lead Over 6.40 Metres at Pine Point
MONTREAL, Oct. 21, 2019 -- Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; OTCQX: OMZNF;
FRANKFURT: 0B51) is pleased to announce first drilling results from the Fall 2019 drill program at Pine Point. Twenty-six
exploration drill holes were completed in the L-37 and N-38 areas within the East Mill Zone. Highlights include drill hole L37-19-
PP-001 that intersected 8.68% zinc and 2.45% lead over 6.40 metres and drill hole L37-19-PP-011 intersected 6.43% zinc
and 0.87% lead over 14 metres. All intersections are within flat-lying tabular-style deposits and are located between 7 to 36
metres vertical depth, adding more near-surface, high grade mineralization in proximity to the Company’s current Inferred
Mineral Resource Estimate (MRE). Other highlighted intersections are noted in Table 1 below. (See East Mill L37 Surface
Map).
The focus in this area of the East Mill Zone is to connect the mineralization between two existing tabular deposits. Drill hole
composites and location details are provided in Tables 2 & 3
Table 1 : Selected Drill Highlights
Hole
Name Zone Area From
(meters)
To
(meters)
Drilled Width
(meters)
Zinc
(%)
Lead
(%)
Lead +
Zinc (%)
L37-19-PP
-001
East
Mill L-37 7.50 13.90 6.40 8.68 2.45 11.13
L37-19-PP
-011
East
Mill L-37 21.23 35.23 14.00 6.43 0.87 7.31
L37-19-PP
-013
East
Mill L-37 21.61 28.61 7.00 5.09 1.47 6.55
N38-19-PP
-007
East
Mill N-38 25.48 26.95 1.47 4.72 2.07 6.79
Jeff Hussey, President & CEO of Osisko Metals, commented: “These early results from the start of our current exploration
program are very encouraging. Unlike our previous infill drilling campaign, we are now focused on expanding mineralization and
identifying new deposits, with a focus on vertical prismatic deposits. The program will be further adapted once processing and
interpretation has been completed on the eagerly anticipated airborne gravity gradiometry data.”
To increase the value of the Cominco Ltd. historical drill results (dating back to the 1960’s), Osisko Metals has also
commenced a relogging and assaying program of the extensive historic core farm that is available on the property (10,893 drill
holes with over 702,300 metres of available core). At that time Cominco did not assay what is now, in today’s economic
context, considered to be significant mineralization. This initiative will allow the Company to cost-effectively enhance the
ongoing exploration program by assaying mineralization noted in a number of historical holes. This data will aid in identifying
new exploration targets and in verifying the historical dataset.
Note regarding mineral resources and Qualified Persons
Mr. Robin Adair is the Qualified Person and the Vice President Exploration for Osisko Metals Incorporated. He is responsible
for the technical data reported in this news release and a Professional Geologist registered in the North West Territories.
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 the Pine Point project area were securely transported to
its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were
shipped via secure transportation to the ALS Canada Ltd.’s preparation facility in Yellowknife. Pulps were analyzed at the ALS
Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both
ICP-AES and ICP-MS for ultra-trace level detection for a multi-element suite with a 1% upper detection limit for base metals.
Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade four acid digestion and ICP-AES analysis with
an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by
traditional titration.
Table 2: Composite 2019 Drilling Assay Results
Hole Name Zone Area From
(meters)
To
(meters)
Drilled Width
(meters)
True Width
(metres)
Zinc
(%)
Lead
(%)
Lead + Zinc
(%)
L37-19-PP-
001
East
Mill L37 7.50 13.90 6.40 6.40 8.68 2.45 11.13
L37-19-PP-
002
East
Mill L37 No significant results
L37-19-PP-
003
East
Mill L37 11.26 13.60 2.34 2.34 2.30 0.73 3.03
L37-19-PP-
004
East
Mill L37 12.39 19.26 6.87 6.87 3.32 0.43 3.75
L37-19-PP-
005
East
Mill L37 14.66 17.50 2.84 2.84 1.18 0.16 1.34
L37-19-PP-
007
East
Mill L37 17.20 18.20 1.00 1.00 1.08 0.45 1.53
L37-19-PP-
008
East
Mill L37 23.53 24.53 1.00 1.00 1.33 0.00 1.33
L37-19-PP-
009
East
Mill L37 29.77 30.77 1.00 1.00 1.69 0.06 1.74
L37-19-PP-
010
East
Mill L37 20.34 21.34 1.00 1.00 0.33 0.64 0.97
L37-19-PP-
011
East
Mill L37 21.23 35.23 14.00 14.00 6.43 0.87 7.31
L37-19-PP-
012
East
Mill L37 25.90 33.90 8.00 8.00 2.77 0.06 2.83
L37-19-PP-
013
East
Mill L37 21.61 28.61 7.00 7.00 5.09 1.47 6.55
L37-19-PP-
014
East
Mill L37 14.17 17.17 3.00 3.00 0.87 0.78 1.65
L37-19-PP-
015
East
Mill L37 19.63 29.63 10.00 10.00 2.36 0.43 2.79
L37-19-PP-
015
East
Mill L37 35.63 38.63 3.00 3.00 3.07 0.11 3.19
L37-19-PP-
016
East
Mill L37 29.16 30.16 1.00 1.00 1.68 0.12 1.80
L37-19-PP-
017
East
Mill L37 No significant results
L37-19-PP-
018
East
Mill L37 34.14 36.14 2.00 2.00 1.41 0.01 1.42
L37-19-PP-
019
East
Mill L37 31.93 36.93 5.00 5.00 2.17 0.08 2.25
L37-19-PP-
020
East
Mill L37 No significant results
L37-19-PP-
022
East
Mill
L37 No significant results
N38-19-PP-
003
East
Mill
N38 28.15 29.55 1.40 1.40 0.74 1.40 2.14
N38-19-PP-
007
East
Mill
N38 25.48 26.95 1.47 1.47 4.72 2.07 6.79
N38-19-PP-
008
East
Mill
N38 No significant results
N38-19-PP-
009
East
Mill N38 30.26 31.34 1.08 1.08 1.88 1.82 3.70
N38-19-PP-
010
East
Mill N38 28.20 29.50 1.30 1.30 3.69 0.61 4.30
N38-19-PP-
013
East
Mill L37 31.75 33.00 1.25 1.25 1.29 1.06 2.35
Table 3: Drill Hole Collar Locations (UTM NAD83 Zone 11)
Hole Name Zone Area Easting Northing Elevation (m) Azimuth Dip Depth (m)
L37-19-PP-001 East Mill L37 640864 6750161 211.3 0 -90 50.00
L37-19-PP-002 East Mill L37 640857 6750131 213.6 0 -90 39.50
L37-19-PP-003 East Mill L37 640854 6750108 215.1 0 -90 36.00
L37-19-PP-004 East Mill L37 640879 6750072 218.7 0 -90 39.00
L37-19-PP-005 East Mill L37 640850 6750076 218.7 0 -90 39.00
L37-19-PP-007 East Mill L37 640789 6750096 219.8 0 -90 39.00
L37-19-PP-008 East Mill L37 640785 6750074 219.9 0 -90 39.00
L37-19-PP-009 East Mill L37 640702 6750038 221.4 0 -90 45.00
L37-19-PP-010 East Mill L37 640674 6750042 221.7 0 -90 51.00
L37-19-PP-011 East Mill L37 640631 6750093 222.0 0 -90 51.00
L37-19-PP-012 East Mill L37 640570 6750108 219.6 0 -90 48.00
L37-19-PP-013 East Mill L37 640525 6750087 219.3 0 -90 45.00
L37-19-PP-014 East Mill L37 640527 6750042 219.5 0 -90 42.00
L37-19-PP-015 East Mill L37 640549 6749994 219.4 0 -90 45.00
L37-19-PP-016 East Mill L37 640562 6749956 219.3 0 -90 45.00
L37-19-PP-017 East Mill L37 640634 6749969 219.1 0 -90 48.00
L37-19-PP-018 East Mill L37 640491 6749952 219.5 0 -90 45.00
L37-19-PP-019 East Mill L37 640463 6749971 219.4 0 -90 45.00
L37-19-PP-020 East Mill L37 640438 6750011 218.8 0 -90 42.00
L37-19-PP-022 East Mill L37 640505 6749781 219.9 0 -90 45.00
N38-19-PP-003 East Mill N38 640766 6749359 221.8 0 -90 42.00
N38-19-PP-007 East Mill N38 640545 6749400 220.6 0 -90 39.00
N38-19-PP-008 East Mill N38 640550 6749644 217.0 0 -90 42.00
N38-19-PP-009 East Mill N38 640502 6749391 221.6 0 -90 39.00
N38-19-PP-010 East Mill N38 640477 6749422 220.8 0 -90 48.00
N38-19-PP-013 East Mill N38 640458 6749531 221.4 0 -90 45.00
About Osisko Metals
Osisko Metals Incorporated 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. The Company’s flagship
properties are: 1) the Pine Point Mining Camp (“PPMC”) , located in the Northwest Territories, has an Inferred Mineral
Resource of 38.4 Mt grading 4.58% zinc and 1.85% lead (6.58% ZnEq), making it the largest pit-constrained zinc deposit in
Canada (please refer to the Amended Technical Report filed on SEDAR for further information). The PPMC is located on the
south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway access and with 100
kilometres of haulage roads already in place. In 2019-2020, the company will explore for additional mineral resources and
continue advancing the overall project. 2) The Bathurst Mining Camp (“BMC”) , located in northern New Brunswick, has
Indicated Mineral Resources of 1.96 Mt grading 5.77% zinc, 2.38% lead, 0.22% copper and 68.9g/t silver (9.00% ZnEq) and
Inferred Mineral Resources of 3.85 Mt grading 5.34% zinc, 1.49% lead, 0.32% copper and 47.7 g/t silver (7.96% ZnEq) in the
Key Ancon and Gilmour South deposits. In 2019-2020, the Company will continue to diligently develop and explore in order to
confirm and grow both projects. The Company is also active in Quebec where it is advancing multiple base metal targets. The
Mineral Resources mentioned in this press release conform to National Instrument 43-101 standards. These mineral resources
were reported by the Company on December 6, 2018 and January 20, 2019 and were prepared by independent qualified
persons, as defined by NI43 101 guidelines.
The above-mentioned mineral resources are not mineral reserves as they do not have demonstrated economic viability. The
quantity and grade of the reported Inferred Mineral Resources are conceptual in nature and are estimated based on limited
geological evidence and sampling. Geological evidence is sufficient to imply but not verify geological grade and/or quality of
continuity. Reference to historical production in this press release does not imply that any future mineral resources or
discoveries will be of economic viability, nor does it imply that additional discoveries will be made. Zinc equivalency
percentages are calculated using metal prices, forecasted metal recoveries, concentrate grades, transport costs, smelter
payable metals and charges (see respective technical reports for details).
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
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.
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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.
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