MONTREAL, Nov. 13, 2018 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; FRANKFURT: OB5) is pleased to announce results from 16 drill holes from the Titan Zone on its wholly owned Key Anacon project located 20 km south of the city of Bathurst, New Brunswick. The Titan Zone deposit is separate from the Main Zone deposit, located 1,500 metres to the northeast, and not included in the historical resource estimate.
Drill hole KAT-18-08 cut 8.0 metres of massive sulfides grading 9.53% zinc, 3.63% lead, 0.20% copper and 68.62 g/t silver in an area 140 metres up plunge from drill hole KA-18-01 (see news release of June 28, 2018 and the attached Titan Zone Longitudinal map. Furthermore, this intersection is located 60 metres northwest of historical drill hole KA-01-09 that cut 6.8 metres of 5.78% zinc, 2.07% lead, 0.52% copper and 53.3 g/t silver. KAT-18-08 also intersected a separate copper-rich zone grading 1.18% copper, 0.82% zinc, 0.12% lead and 8.9 g/t silver over 16.2 metres, located below the zinc-lead zone, as seen in the Titan Zone Copper Longitudinal map. Additionally, drill hole KAT-18-13 intersected the same near-surface high grade mineralized zone 75 metres below KAT-18-08 and cut 6.5 metres grading 5.34% zinc, 2.81% lead, 0.62% copper and 24.4g/t silver. This intersection occurs within an overlapping polymetallic zone of 26.6 metres grading 0.93% copper, 1.79% zinc, 0.88% lead and 19.08 g/t silver.
Finally, drill hole KAT-18-10 intersected 6.1 metres of 4.3% zinc, 2.82% lead and 44.07 g/t silver at a vertical depth of 170 metres. This hole extends the deposit boundary towards the southeast and is open along strike at that depth.
Table 1: Highlights of Significant Zinc-Lead and Copper intercepts; full details in Tables 2 and 3.
| KEY ANACON – TITAN ZONE HIGHLIGHTS | |||||||||
| Hole Name | Zone | From | To | Width | Zn | Pb | Cu | Ag | Zn+Pb |
| (m) | (m) | (m) | % | % | % | g/t | % | ||
| KAEZ-18-04 | Titan | 254.90 | 262.00 | 7.10 | 0.32 | 0.09 | 1.05 | 7.29 | 0.41 |
| KAEZ-18-04 | Titan | 268.50 | 272.55 | 4.05 | 1.97 | 0.62 | 1.49 | 24.40 | 2.59 |
| KAT-18-07 | Titan | 74.60 | 77.00 | 2.40 | 5.75 | 2.11 | 0.32 | 57.99 | 7.85 |
| KAT-18-08 | Titan | 87.00 | 95.00 | 8.00 | 9.53 | 3.63 | 0.20 | 68.62 | 13.16 |
| KAT-18-08 | Titan | 122.00 | 126.50 | 4.50 | 3.83 | 1.41 | 0.36 | 43.26 | 5.24 |
| KAT-18-08 | Titan | 187.10 | 203.30 | 16.20 | 0.82 | 0.12 | 1.18 | 8.90 | 0.94 |
| KAT-18-10 | Titan | 238.00 | 244.06 | 6.06 | 4.30 | 2.82 | 0.08 | 44.07 | 7.12 |
| KAT-18-13 | Titan | 238.30 | 264.90 | 26.60 | 1.79 | 0.88 | 0.93 | 19.08 | 2.67 |
| including | Titan | 253.50 | 260.00 | 6.50 | 5.34 | 2.81 | 0.62 | 24.40 | 8.14 |
| KAT-18-19 | Titan | 122.65 | 136.00 | 13.35 | 3.95 | 1.16 | 0.81 | 29.92 | 5.11 |
Jeff Hussey, President and CEO of Osisko Metals, commented: “The drilling on this project is quickly reinforcing our belief that Key Anacon is the best exploration and development asset in the Bathurst Camp. As with our last results, which increased the size of the Main Zone, these results at the Titan Zone are revealing significant new mineralization. Drilling is now targeting near surface, high grade mineralization in the Titan Zone that overlaps with copper-rich mineralization. Copper grades in this zone can be up to five times grades typically seen across the Bathurst Camp. This copper zone extends for a kilometer to the northwest where it is roughly outlined by only three 400-metre spaced drill holes.
We have now defined within the Titan Zone a Zinc + Lead rich deposit that steeply plunges to over 1,100m depth towards the southeast where KA01-15B encountered a 75-metre-thick interval of massive sulphides containing 3 separate zones: 5.1% Zinc + Lead over 9.3 metres, 9.25 % Zinc + Lead over 13.0 metres and 5.55% Zinc + Lead over 24.3 metres. The Titan Zone is now at least twice as long vertically when compared to the nearby Main Zone.”
The near-term exploration focus on the Titan Zone is to outline the size of the higher-grade zinc and lead mineralization and delineate the adjacent and overlapping copper-rich zone. The 2018 drill program has grown the size of both the Titan Zone and the Main Zone, upgrading the significance of this project.
It is worth noting that the Key Anacon Horizon is the contemporaneous equivalent of the Brunswick Horizon (“BH”). More recent geological interpretations connect the BH between Key Anacon and the former Brunswick No.12 and No. 6 Mines (~150Mt @ 12% Zinc + Lead). Continuing south of the No.6 Mine, the BH runs through the Gilmour South Deposit and continues for 30 kilometres along the Portage River Anticline before reaching the Key Anacon Project. (See BH along the Portage River Anticline – Plan View Section).
The strike length between Gilmour South and Key Anacon has barely been explored. As work continues, other areas of interest are also emerging on the BH, which is one of the most prolific base metal horizons in the world.
About Key Anacon
The Key Anacon project is located approximately 20 km south of the town of Bathurst, New Brunswick and 16 km southeast of the former Brunswick No.12 mine. It is accessible by paved roads. The property contains two known Bathurst-type volcanogenic massive sulphide deposits containing zinc, lead, copper and silver. The Key Anacon Main Zone and Titan Zone deposits are situated at the same stratigraphic horizon that hosted the Brunswick No. 12 & No. 6 mines. The property covers approximately 12 kilometres of favorable Nepisiguit Falls stratigraphy that also extends onto the surrounding claims held 100% by Osisko Metals.
No mineral resource estimates have been calculated under NI43-101 guidelines. Except for exploration programs conducted in 1992-1993 and 2000, almost all of the drilling was completed in the 1950’s and 60’s, prior to currently required standards for quality assurance and quality control. The earlier drilling led to the establishment of a 460 metre-deep shaft, a vent raise, eight levels and three sub-levels at the Main Zone. The Government of New Brunswick, Department of Energy and Resource Development, Energy and Mines Division reports the Main Zone deposit as having a historical resource (Non-NI 43-101 compliant) of 1.87 million tonnes grading 6.93% Zn, 2.63% Pb, 0.16% Cu, and 84 g/t Ag in multiple folded lenses. The deposit is open at depth and along strike.
Exploration potential at Key Anacon and the Company’s adjacent properties is considered to be excellent on the basis of the presence of the Brunswick Horizon stratigraphy and the expansive zones of mineralization and alteration. Both the Titan Zone and Main Zone are open at depth and along strike. Exploration and development in the 1950’s and 1960’s was terminated due to the pullback of the zinc commodity price at that time. Since then, only two minor exploration programs were conducted by major mining companies.
Table 2: Drill hole composite assay Intervals, Copper assays are noteworthy.
| Hole Name | From | To | Drilled Width | True Width | Copper | Lead | Zinc | Silver | Lead + Zinc |
| (metres) | (metres) | (metres) | (metres) | % | % | % | g/t | % | |
| KAEZ-18-04 | 254.90 | 262.00 | 7.10 | 5.40 | 1.05 | 0.09 | 0.32 | 7.29 | 0.41 |
| KAEZ-18-04 | 268.50 | 272.55 | 4.05 | 3.10 | 1.49 | 0.62 | 1.97 | 24.40 | 2.59 |
| KAEZ-18-04 | 284.00 | 292.30 | 8.30 | 6.40 | 0.62 | 1.10 | 2.59 | 51.28 | 3.68 |
| KAEZ-18-04 | 297.10 | 300.60 | 3.50 | 2.70 | 0.39 | 0.87 | 1.79 | 32.76 | 2.66 |
| KAT-18-05 | 120.00 | 126.30 | 6.30 | 5.20 | 0.10 | 0.28 | 0.96 | 9.23 | 1.24 |
| KAT-18-06 | No significant assays | ||||||||
| KAT-18-07 | 74.60 | 77.00 | 2.40 | 2.00 | 0.32 | 2.11 | 5.75 | 57.99 | 7.85 |
| KAT-18-07 | 133.00 | 151.00 | 18.00 | 14.70 | 0.69 | 0.36 | 0.90 | 11.13 | 1.25 |
| KAT-18-08 | 87.00 | 95.00 | 8.00 | 6.60 | 0.20 | 3.63 | 9.53 | 68.62 | 13.16 |
| KAT-18-08 | 122.00 | 126.50 | 4.50 | 3.70 | 0.36 | 1.41 | 3.83 | 43.26 | 5.24 |
| KAT-18-08 | 187.10 | 203.30 | 16.20 | 13.30 | 1.18 | 0.12 | 0.82 | 8.90 | 0.94 |
| KAT-18-09 | 157.60 | 166.70 | 9.10 | 7.30 | 0.91 | 0.78 | 2.41 | 20.47 | 3.19 |
| KAT-18-10 | 238.00 | 244.06 | 6.06 | 5.00 | 0.08 | 2.82 | 4.30 | 44.07 | 7.12 |
| KAT-18-12 | 244.10 | 246.10 | 2.00 | 1.60 | 0.59 | 1.06 | 3.18 | 40.98 | 4.24 |
| KAT-18-13 | 238.30 | 264.90 | 26.60 | 17.80 | 0.93 | 0.88 | 1.79 | 19.08 | 2.67 |
| including | 253.50 | 260.00 | 6.50 | 4.30 | 0.62 | 2.81 | 5.34 | 24.40 | 8.14 |
| KAT-18-13 | 296.00 | 300.20 | 4.20 | 2.80 | 0.25 | 0.85 | 2.34 | 25.03 | 3.19 |
| KAT-18-13 | 316.90 | 323.45 | 6.55 | 4.40 | 0.95 | 0.03 | 0.13 | 6.34 | 0.16 |
| KAT-18-14 | 227.05 | 245.60 | 18.55 | 15.00 | 0.56 | 0.12 | 0.32 | 7.35 | 0.43 |
| KAT-18-15 | 198.50 | 204.30 | 5.80 | 5.30 | 1.14 | 0.58 | 1.14 | 14.91 | 1.73 |
| KAT-18-17 | 221.90 | 233.50 | 11.60 | 9.50 | 0.69 | 0.72 | 1.90 | 15.59 | 2.63 |
| KAT-18-18 | 152.00 | 161.65 | 9.65 | 7.70 | 0.22 | 0.71 | 1.32 | 8.59 | 2.03 |
| KAT-18-19 | 122.65 | 136.00 | 13.35 | 12.60 | 0.81 | 1.16 | 3.95 | 29.92 | 5.11 |
Note: Estimated True Widths are based on local geometry of mineralization adjacent to each drill hole.
Table 3: Drill hole information and location in New Brunswick Double Stereographic Projection (NBS).
| Hole Name | Area | Easting | Northing | Elevation | Azimuth | Dip | Depth (metres) |
| KAEZ-18-04 | Titan Zone | 2,561,439 | 7,605,376 | 73.4 | 072 | -65 | 584.0 |
| KAT-18-05 | Titan Zone | 2,561,512 | 7,605,422 | 68.4 | 056 | -55 | 329.0 |
| KAT-18-06 | Titan Zone | 2,561,538 | 7,605,390 | 68.8 | 056 | -55 | 338.0 |
| KAT-18-07 | Titan Zone | 2,561,481 | 7,605,463 | 70.0 | 056 | -55 | 311.0 |
| KAT-18-08 | Titan Zone | 2,561,427 | 7,605,434 | 69.1 | 056 | -55 | 305.6 |
| KAT-18-09 | Titan Zone | 2,561,464 | 7,605,431 | 74.1 | 056 | -55 | 395.0 |
| KAT-18-10 | Titan Zone | 2,561,491 | 7,605,360 | 68.5 | 056 | -55 | 431.0 |
| KAT-18-11 | Titan Zone | 2,561,470 | 7,605,392 | 68.5 | 056 | -55 | 326.0 |
| KAT-18-12 | Titan Zone | 2,561,448 | 7,605,330 | 71.7 | 056 | -55 | 344.0 |
| KAT-18-13 | Titan Zone | 2,561,427 | 7,605,433 | 69.0 | 055 | -73 | 368.0 |
| KAT-18-14 | Titan Zone | 2,561,427 | 7,605,433 | 69.0 | 033 | -64 | 386.0 |
| KAT-18-15 | Titan Zone | 2,561,427 | 7,605,433 | 69.0 | 035 | -49 | 329.0 |
| KAT-18-16 | Titan Zone | 2,561,390 | 7,605,489 | 69.1 | 044 | -71 | 404.0 |
| KAT-18-17 | Titan Zone | 2,561,394 | 7,605,490 | 69.0 | 046 | -60 | 344.0 |
| KAT-18-18 | Titan Zone | 2,561,426 | 7,605,531 | 69.0 | 048 | -62 | 236.0 |
| KAT-18-19 | Titan Zone | 2,561,426 | 7,605,530 | 69.1 | 048 | -45 | 182.0 |
Note regarding historical resource and Qualified Person
The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that such work will allow conversion of such historical resources.
Mr. Gary Woods 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 the Senior Exploration Manager 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 from Osisko Metals Bathurst Camp projects is securely transported to its core facility in Bathurst, NB where it is logged and sampled. Samples selected for assay were shipped via secure transportation to the Actlabs preparation facility in Fredericton, NB. Pulps were analyzed at Actlabs 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 a focus on zinc mineral assets. The Company controls Canada’s two premier zinc mining camps, namely the Pine Point Mining Camp (“PPMC”) located in the Northwest Territories, at which it expects to convert the near surface, historical, unclassified historical resource targeting 50Mt at approximately 5% Zinc + Lead; and the Bathurst Mining Camp (“BMC”), located in northern New Brunswick, where it is focused on converting and developing the historical resource found at the Key Anacon project. The Company is currently completing 100,000 metres of drilling at both camps. 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 opportunities. 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 |
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.
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
