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Osisko Metals Incorporated (OM.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.43500.0000 (0.00%)
As of 3:47PM EST. Market open.
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Previous Close0.4350
Open0.4400
Bid0.4350 x N/A
Ask0.4400 x N/A
Day's Range0.4300 - 0.4400
52 Week Range0.2400 - 0.5700
Volume13,710
Avg. Volume98,535
Market Cap75.966M
Beta (5Y Monthly)1.54
PE Ratio (TTM)N/A
EPS (TTM)-0.0600
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target Est0.95
  • Osisko Metals Extends O53 Tabular Mineralization at Pine Point
    GlobeNewswire

    Osisko Metals Extends O53 Tabular Mineralization at Pine Point

    Central Zone Surface Map Central Zone Surface Map O53 Area Surface Map O53 Area Surface MapMONTREAL, Nov. 09, 2020 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to provide drill results from the current program at its 100% owned Pine Point Project, NWT. Assay results have been received from twenty-nine (29) exploration holes in the Central Zone, mostly in proximity to the O53 deposit area, that tested gravity gradiometry anomalies and areas of unconstrained mineralization around the current resource block model. Exploration highlights (see Tables 1 and 2 below) include: * Drill hole OM13-20-001 intersected 4.80 metres grading 7.25% Zn and 1.45% Pb. This hole intersected well-developed, near surface Tabular style mineralization that potentially extends mineralization 800 metres west of the current western limit of the O53 deposit and 665 metres west, along strike, from previously reported drill hole O53-20-PP-003 (8.45% Zn \+ 0.61% Pb over 3.00 metres; see news release dated October 5th, 2020 and O53 Area Map). Osisko Metals believes the potential mineralization corridor to have a N-S width of approximately 60 metres. Further high priority drilling will be designed to test continuity of mineralization along the 800-metre strike length separating the O53 deposit and the OM13 target. * Drill hole OM59-20-001 intersected 2.57 metres grading 2.51% Zn and 3.96% Pb on the edge of known historical Tabular mineralization and a gravity anomaly. It is open in this area for further exploration. An additional two holes drilled in the OM58 area, a gravity target, also intersected narrow widths of well-developed lead-zinc sulphides (Central Zone Surface Map). * On the immediate margins of the O53 Deposit, eight additional drill holes intersected variable grade mineralization (2.0% to 17.4% Zn+Pb) over widths ranging between 0.28 to 17.42 metres, including O53-20-PP-008 that intersected 3.68% Zn + 0.06% Pb over 14.0 metres (O53 Area Map). Osisko Metals now believes the N-S width of O53 is well constrained and will focus on the western potential moving towards drill hole OM13-20-001.Jeff Hussey, President and COO, commented: “The new trend of Tabular mineralization west of O53 is a prime example of the excellent exploration potential remaining at Pine Point. Tabular mineralization historically saw minimal follow-up drilling across the property and was not a focus during the Cominco Ltd. era. We are also starting to see success with our gravity targets. Nine out of twenty holes drilled to test gravity anomalies near known deposits intersected appreciable mineralization, warranting further drilling. We believe significant resources can be developed in 2020 and 2021 as we demonstrate the exploration upside of Pine Point through a combination of exploration/resource expansion drilling.”Table 1: Drill Results - O53 and Western Tabular Extension.Hole NameAreaDepositFrom (m)To (m)Drilled Width (m)Pb (%)Zn (%)Pb + Zn (%)    OM13-20-001Central ZoneExploration60.0064.804.801.457.258.70  OM13-20-002Central ZoneExplorationNo Significant Results  OM13-20-003Central ZoneExploration77.8078.300.500.102.522.62  O53-20-PP-002Central ZoneO53No Significant Results  O53-20-PP-004Central ZoneO5327.7030.502.800.062.802.85  O53-20-PP-004Central ZoneO5366.5070.904.400.023.013.02  O53-20-PP-005Central ZoneO5359.8560.180.335.550.075.62  O53-20-PP-006Central ZoneO5316.5020.253.751.680.342.02  O53-20-PP-006Central ZoneO5324.0024.650.654.880.014.89  O53-20-PP-007Central ZoneO5361.3361.610.2815.002.4217.42  O53-20-PP-008Central ZoneO5319.5033.5014.000.063.683.74  O53-20-PP-008Central ZoneO5368.0268.430.410.5916.1016.69  O53-20-PP-009Central ZoneO5364.5066.502.000.104.454.55  O53-20-PP-010Central ZoneO5335.1337.132.002.760.172.93  O53-20-PP-013Central ZoneO53No Significant Results  O53-20-PP-014Central ZoneO5360.0061.501.501.010.041.05    *True widths are estimated to be 95-100% of reported drilled widths.Table 2: Drill results \- Central Zone Gravity Gradiometry Targets.Hole NameAreaDepositFrom (m)To (m)Drilled Width (m)Pb (%)Zn (%)Pb + Zn (%)    OM09-20-001Central ZoneExplorationNo Significant Results  OM10-20-001Central ZoneExplorationNo Significant Results  OM11-19-001Central ZoneExplorationNo Significant Results  OM12-20-001Central ZoneExplorationNo Significant Results  OM14-20-001Central ZoneExplorationNo Significant Results  OM17-19-001Central ZoneExploration53.0054.001.000.571.692.26  OM36-20-001Central ZoneExplorationNo Significant Results  OM55-20-001Central ZoneExplorationNo Significant Results  OM58-20-001Central ZoneExploration81.5382.250.720.265.836.09  OM58-20-002Central ZoneExploration64.3665.120.761.863.185.04  OM58-20-003Central ZoneExploration62.2562.550.300.678.949.61  OM59-20-001Central ZoneExploration63.0065.572.572.513.966.47  OM60-20-001Central ZoneExplorationNo Significant Results  OM61-20-001Central ZoneExplorationNo Significant Results  OM71-20-001Central ZoneExplorationNo Significant Results   OM78-20-002Central ZoneExploration66.0067.001.002.200.232.43    *True widths are estimated to be 95-100% of reported drilled widths.Table 3: Drill Hole Collar Locations (NAD83 CSRS Zone 11).Hole NameEastingNorthingElevationAzimuthDipDepth O53-20-PP-00263403867456312250-9075 O53-20-PP-00463391967456962250-9081 O53-20-PP-00563410267456402250-9072 O53-20-PP-006634197.767456482250-9079.5 O53-20-PP-00763410567456202250-9072 O53-20-PP-00863407067457452250-90111 O53-20-PP-00963386767456672250-9081 O53-20-PP-01063382667456662250-9076.5 O53-20-PP-013634048.526745761.422250-9085.5 O53-20-PP-014633996.226745660.61225305-80130.5 OM09-20-001631959.56747366.52206.470-9051 OM10-20-001630725.496746653.97204.350-9075 OM11-19-001631349.76746217.23217.930-9093 OM12-20-001631259.746744969.36221.110-9066 OM13-20-001633116.746745685.98222.510-9064.5 OM13-20-002633093.616745703.9222.23320-6566 OM13-20-003633132.096745621.04223.410-9076.5 OM14-20-001632517.836745088.21222.730-9076.5 OM17-19-001633098.376744939.82223.980-9099 OM36-20-001632977.856747905.29205.960-90102 OM55-20-001629640.416747263.31194.570-9039 OM58-20-001631207.216745895.93220.160-9048 OM58-20-002631063.646745912.53219.320-9087 OM58-20-003630983.16745827.76219.470-9090 OM59-20-001631327.136745749.03220.220-9078 OM60-20-001633017.476746320.09224.60-9075 OM61-20-001636515.676746799.91225.420-9069 OM71-20-001635738.666748553.07212.690-90114 OM78-20-001632395.596746459.73221.10-90120 OM78-20-002632232.896746382.86221.030-9060   Note regarding mineral resources and Qualified PersonsMr. 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 is 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 at the Pine Point project site, 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 ICPAES analysis with an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration. Current drill program is following strict COVID-19 protocols, has been underway since August 30th and is now completed. Further results are pending.About Osisko MetalsOsisko 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 two of Canada’s premier past-producing zinc mining camps: 1) the Pine Point Project that is located in the Northwest Territories, for which the recently filed PEA has indicated an after-tax NPV of $500M and an IRR of 29.6%. The Pine Point Project PEA is based on current Mineral Resource Estimates that are amenable to open pit and shallow underground mining and consist of 12.9Mt grading 6.29% ZnEq of Indicated Mineral Resources and 37.6Mt grading 6.80% ZnEq of Inferred Mineral Resources. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, North West Territories, Canada” dated July 30, 2020 (with an effective date of June 11, 2020) which has been filed on SEDAR. The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, and has 100 kilometres of viable haulage roads already in place; 2) The Bathurst Mining Camp projects are located in northern New Brunswick. The company has optioned the majority of its holding in the Bathurst Camp to Brunswick Exploration.The current Mineral Resources mentioned in this press release conform to NI43-101 standards and were prepared by independent qualified persons, as defined by NI43-101 guidelines. The abovementioned 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. 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 this press release, visit www.osiskometals.com or contact:Killian Charles VP Corporate Development Osisko Metals Incorporated (514) 861-4441 Email: info@osiskometals.com www.osiskometals.comCautionary Statement on Forward-Looking InformationThis 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. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the Pine Point Project having world-class potential, including the potential to be one of the top ten zinc mines; the results of the PEA, including, but not limited to, the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Pine Point Project will be an robust operation and profitable at a variety of prices and assumptions; the expected high quality of the Pine Point concentrates; the potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of tax revenue and contribution of jobs; and the Pine Point Project having the potential for mineral resource expansion and new discoveries. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the development of its projects and pursue planned exploration; future prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of governmental and third party approvals; licences and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of equipment; and positive relations with local groups. 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; 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; Osisko Metals’ history of losses and negative cash flow; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of Osisko Metals to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of Osisko Metals to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company 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 Company 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.Photos accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7df5cb08-11ea-43e5-8952-217dea1b08b4 https://www.globenewswire.com/NewsRoom/AttachmentNg/4a1f290a-6b6f-4ab7-a330-bddcd24abf58

  • Osisko Metals Intersects 28.8 Metres Grading 30.1% Zn+Pb at Pine Point
    GlobeNewswire

    Osisko Metals Intersects 28.8 Metres Grading 30.1% Zn+Pb at Pine Point

    O53 Surface Map O53 Surface MapMONTREAL, Oct. 05, 2020 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to provide initial results from the current drill program at its 100% owned Pine Point Project, NWT. Assay results have been received from four holes in the area of the O53 deposit (Central Zone) that were drilled to better define vertical extent of prismatic mineralization in the core of the deposit. Highlights include 17.50 metres grading 11.53% Zn and 2.52% Pb in drill hole O53-20-PP-001 and 28.80 metres grading 23.90% Zn and 6.24% Pb in drill hole O53-20-PP-012. The latter hole extends the high-grade prismatic mineralization approximately 10 metres below the currently modelled pit boundary in the immediate area of the hole. The O53 deposit has a strike length of 313 metres, an average width of 50 metres and maximum depth of 63 metres. Table 1: Drill CompositesHole NameFromToDrilled Width (m)Pb (%)Zn (%)PB+ZN (%) O53-20-PP-00121.2523.502.251.459.0710.52 O53-20-PP-00128.5046.0017.502.5211.5314.05 O53-20-PP-00150.0055.505.501.074.435.50 O53-20-PP-00353.5056.503.000.618.459.06 O53-20-PP-00360.0062.002.000.052.242.29 O53-20-PP-01147.0051.004.000.181.021.20 O53-20-PP-01222.1050.9028.806.2423.9030.14 O53-20-PP-01259.1064.105.001.475.547.01 *True widths are estimated to be 95-100% of reported drilled widths. Drill hole O53-20-PP-003 also indicates the presence of tabular mineralization 135 metres to the west of the O53 deposit, well outside the boundaries of the current pit-constrained resource model (see O53 surface map), indicating potential for a new tabular deposit extending westward at shallow depths. DDH O53-20-PP-011 intersected narrow mineralization in a collapse structure on the southern fringe of O53. Jeff Hussey, President and COO, commented: “We are particularly excited to announce today’s initial drill results, including impressive high-grade intersections from the O53 prismatic deposit as well as extension of mineralization, indicating new high-grade tabular mineralization, in drill hole O53-20-PP-003. We await further assays from other holes around O53. Visual estimates in the holes with pending assays confirms that mineralization remains open in the area. Regionally we have numerous targets defined around ten more deposits in the resource model that are open as well as stranded historical mineralized holes and geophysical targets. There is ample potential for new discoveries and continued expansion of resources across the entire Pine Point project.”All other holes drilled in the area of O53 (see O53 surface map) are fringe holes located around the outer boundaries of the modelled mineralized zone based on assay composites in previously drilled holes (Cominco and PPML). Pending assays are noted in Table 2 and on the O53 surface map. Using visual estimates in drill core of sphalerite and galena mineralization, all drill holes intercepted disseminated to semi-massive mineralization over varying lengths. Drill hole O53-20-PP-008 intersected disseminated to patchy semi-massive sulphides over 17 metres. Drill holes O53-20-PP-004, -006, -007, -009 and -010 intersected disseminated to patchy semi-massive sulphides over drilled widths of between 2 and 5 metres. The remaining holes, O53-20-PP-002, -005, -013 and -014 intersected disseminated to patchy semi-massive sulphide mineralization over drilled widths of between 0.3 and 2 metres. Pending assays will be disclosed as soon as they are available.Drilling has been underway since August 30th and is following strict COVID-19 protocols. Drilling is currently focused on expanding high-grade mineralization in areas of both prismatic and tabular deposit potential in the Central and East Mill zones. In addition, IP geophysical surveying has commenced, targeting areas of promising exploration potential for added mineralization, based on data compiled from modelling of gravity gradiometry, LiDAR, structural analyses and historical drilling.Table 2: Drill Hole Collar Locations (NAD83 (CSRS) Zone 11).Hole NameEastingNorthingElevation (m)AzimuthDipDepth (m)Results O53-20-PP-001633947.986745690.762250-9078Reported O53-20-PP-00263403867456312250-9075Assays pending O53-20-PP-003633782.856745669.492250-90100Reported O53-20-PP-00463391967456962250-9081Assays pending O53-20-PP-00563410267456402250-9072Assays pending O53-20-PP-006634197.767456482250-9079.5Assays pending O53-20-PP-00763410567456202250-9072Assays pending O53-20-PP-00863407067457452250-90111Assays pending O53-20-PP-00963386767456672250-9081Assays pending O53-20-PP-01063382667456662250-9076.5Assays pending O53-20-PP-01163396967456422250-9080Reported O53-20-PP-012633950.066745698.042250-9081Reported O53-20-PP-013633996.226745660.61225305-80130.5Assays pending O53-20-PP-014634048.526745761.422250-9085.5Assays pending Note regarding mineral resources and Qualified PersonsMr. 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 at the Pine Point project site, 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 ICPAES analysis with an upper detection limit of 30% and 20% respectively. Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration.About Osisko MetalsOsisko 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 two of Canada’s premier past-producing zinc mining camps: 1) the Pine Point Project is located in the Northwest Territories, for which the recently filed PEA has indicated an after-tax NPV of $500M and IRR of 29.6%. Under the PEA, the Pine Point Project is host to current mineral resources amenable to open pit and shallow underground development consisting of Indicated Mineral Resources of 12.9Mt grading 6.29% ZnEq and 37.6Mt of Inferred Mineral Resources grading 6.80% ZnEq. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, North West Territories, Canada” dated July 30, 2020 (with an effective date of June 11, 2020) which has been filed on SEDAR. The Pine Point Project 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 viable haulage roads already in place; 2) The Bathurst Mining Camp properties, located in northern New Brunswick, are comprised of 23 claims covering approximately 59,738 hectares (2734 units) 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 Anacon and Gilmour South deposits. Please refer to the technical report entitled “NI 43-101 Maiden Resource Estimate for the Bathurst Mining Camp, New Brunswick, Canada” dated April 4, 2019 (with an effective date of February 20, 2019) which has been filed on SEDAR.The current mineral resources mentioned in this press release conform to NI43-101 standards and were prepared by independent qualified persons, as defined by NI43-101 guidelines. The abovementioned 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. 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).A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be415186-6a24-45f7-ba5f-0c5990de1343For further information on this press release, visit www.osiskometals.com or contact:Killian Charles VP Corporate Development Osisko Metals Incorporated (514) 861-4441 Email: info@osiskometals.com www.osiskometals.com Cautionary Statement on Forward-Looking InformationThis 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. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the Pine Point Project having world-class potential, including the potential to be one of the top ten zinc mines; the results of the PEA, including, but not limited to, the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Pine Point Project will be an robust operation and profitable at a variety of prices and assumptions; the expected high quality of the Pine Point concentrates; the potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of tax revenue and contribution of jobs; and the Pine Point Project having the potential for mineral resource expansion and new discoveries. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the development of its projects and pursue planned exploration; future prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of governmental and third party approvals; licences and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of equipment; and positive relations with local groups. 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; 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; Osisko Metals’ history of losses and negative cash flow; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of Osisko Metals to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of Osisko Metals to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company 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 Company 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.

  • GlobeNewswire

    Osisko Metals Advances Permitting Initiatives at Pine Point and Provides Corporate Update

    MONTREAL, Sept. 24, 2020 (GLOBE NEWSWIRE) -- Osisko Metals Incorporated (the "Company" or "Osisko Metals") (TSX-V: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to provide an update on its permitting initiatives at its wholly owned Pine Point Project (the “Project”). Since the release of the Preliminary Economic Assessment (“PEA”), Osisko Metals has continued discussions with stakeholders and shareholders and is now advancing the Project toward the submission of an Environmental Assessment (“EA”) to governmental agencies in the fourth quarter of 2020. Jeff Hussey, President and Chief Operating Officer, commented: “Concurrent to the restart of drilling announced last month, the forthcoming submission of the EA will mark an important milestone towards advancing the Project to a “shovel ready” stage by late 2023. Supporting the environmental work, key recommendations from the recent PEA are being initiated in preparation for a Feasibility Study. We are committed to rapidly advancing the Pine Point Project to be well positioned to take advantage of a forecasted deficit in the zinc market supply. Furthermore, we are looking forward to releasing drill results in the coming weeks.”Corporate UpdateOsisko Metals is pleased to announce that it has engaged Swiss Resource Capital AG (“SRC”) to assist with its European marketing effort. The agreement is for 6 months effective October 1, 2020 and will be renewable quarterly afterwards. The remuneration payable to SRC will be CHF$4,000 per month. In addition, SRC has been granted 150,000 options, vesting monthly over a period of six months with an 18-month term and an exercise price of $0.40 per share. The agreement is subject to the approval of the TSX Venture Exchange.Osisko Metals would also like to announce that, subject to regulatory approval, it has retained Independent Trading Group (ITG), Inc., ("ITG"), to provide market making services to the Company in compliance with the policies and guidelines of the TSX Venture Exchange and other applicable securities legislation.ITG will trade shares of Osisko Metals on the TSX Venture Exchange for the purposes of maintaining a reasonable market and improving the liquidity of Osisko Metals common shares. The agreement between ITG and the Company can be terminated by either party with a written notice of 30 days and the Company has agreed to pay ITG $5,000 per month, payable quarterly. There are no performance factors contained in the agreement between ITG and the Company and ITG will not receive any shares or options from the Company as compensation for the services.About Osisko MetalsOsisko 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 two of Canada’s premier past-producing zinc mining camps: 1) the Pine Point Project is located in the Northwest Territories, for which the recently filed PEA has indicated an after-tax NPV of $500M and IRR of 29.6%. Under the PEA, the Pine Point Project is host to current mineral resources amenable to open pit and shallow underground development consisting of Indicated Mineral Resources of 12.9Mt grading 6.29% ZnEq and 37.6Mt of Inferred Mineral Resources grading 6.80% ZnEq. Please refer to the technical report entitled “Preliminary Economic Assessment, Pine Point Project, Hay River, North West Territories, Canada” dated July 30, 2020 (with an effective date of June 11, 2020) which has been filed on SEDAR. The Pine Point Project 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 viable haulage roads already in place; 2) The Bathurst Mining Camp properties, located in northern New Brunswick, are comprised of 23 claims covering approximately 59,738 hectares (2734 units) 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 Anacon and Gilmour South deposits. Please refer to the technical report entitled “NI 43-101 Maiden Resource Estimate for the Bathurst Mining Camp, New Brunswick, Canada” dated April 4, 2019 (with an effective date of February 20, 2019) which has been filed on SEDAR.The current mineral resources mentioned in this press release conform to NI43-101 standards and were prepared by independent qualified persons, as defined by NI43-101 guidelines. The abovementioned 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. 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 this press release, visit www.osiskometals.com or contact:Killian Charles VP Corporate Development Osisko Metals Incorporated (514) 861-4441 Email: info@osiskometals.com www.osiskometals.com Cautionary Statement on Forward-Looking InformationThis 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. Any statement that involves predictions, expectations, interpretations, beliefs, plans projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the Pine Point Project having world-class potential, including the potential to be one of the top ten zinc mines; the results of the PEA, including, but not limited to, the IRR, NPV and estimated costs, production, production rate and mine life; the expectation that the Pine Point Project will be an robust operation and profitable at a variety of prices and assumptions; the expected high quality of the Pine Point concentrates; the potential impact of the Pine Point Project in the Northwest Territories, including but not limited to the potential generation of tax revenue and contribution of jobs; and the Pine Point Project having the potential for mineral resource expansion and new discoveries. Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: favourable equity and debt capital markets; the ability to raise any necessary additional capital on reasonable terms to advance the development of its projects and pursue planned exploration; future prices of zinc and lead; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; operating conditions being favourable; political and regulatory stability; the receipt of governmental and third party approvals; licences and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of equipment; and positive relations with local groups. 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. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, risks relating to the ability of exploration activities (including drill results) to accurately predict mineralization; errors in management’s geological modelling; 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; Osisko Metals’ history of losses and negative cash flow; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; the global economic climate; fluctuations in commodity prices; the ability of Osisko Metals to complete further exploration activities, including drilling; delays in the development of projects; environmental risks; community and non-governmental actions; other risks involved in the mineral exploration and development industry; the ability of Osisko Metals to retain its key management employees and skilled and experienced personnel; and those risks set out in the Company’s public documents filed on SEDAR at www.sedar.com. Although the Company 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 Company 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.