From GlobeNewswire: 2024-11-14 13:32:00

Osisko Metals Incorporated announces an updated Mineral Resource Estimate for the Gaspé Copper Project in Quebec, showing a significant increase in copper-equivalent metal content. The Indicated category contains 824 million tonnes grading 0.34% CuEq, while the Inferred category holds 670 million tonnes grading 0.38% CuEq.

The Gaspé Copper Project now boasts 4.91 billion pounds of contained copper, along with significant molybdenum and silver. CEO Robert Wares highlights the potential for a bulk tonnage mining operation and the need for additional drilling to convert Inferred resources to Indicated category.

A 70,000 meter drill program is planned for 2025 to convert Inferred resources to Indicated category, define higher-grade mineralization, and extend mineralization boundaries. The updated resource estimate positions Gaspé Copper as a major Canadian development project for copper-molybdenum in a safe mining jurisdiction.

The modelled Whittle pit shell at Gaspé Copper will require further drilling and pit optimization to refine boundaries. The company plans to evaluate future pit limits and the potential relocation of the mill complex to minimize disturbance and ensure safety for residents and the environment.

Osisko Metals’ updated Mineral Resource Estimate is based on a lower cut-off grade of 0.12% copper and includes stockwork mineralization surrounding the past-producing Copper Mountain pit mine. The resource estimate incorporates data from historical drilling and recent drilling completed by the company.

The resource estimate at Gaspé Copper is presented in a pit-constrained scenario and includes mineralization in skarn and hornfels formations. The MRE uses a long-term copper price of US$4.00/lb and a lower cut-off grade of 0.12% Cu for in-pit resource estimation.

The MRE sensitivity analysis shows resources reported at various in-pit cut-off grades, with the base case resource cut-off grade at 0.12% copper. The resource estimate includes Indicated and Inferred Mineral Resources based on drill spacing and geological continuity.

Osisko Metals’ updated Mineral Resource Estimate includes a detailed appendix outlining the parameters and criteria used for the estimation. The company aims to advance projects like Gaspé Copper and the Pine Point Project, focusing on copper and zinc exploration and development in Canada.



Read more at GlobeNewswire: Osisko Metals Announces Significant Increase in Mineral