osisko metals (TSX-V:OM)
MONTRéAL, QUéBEC, CANADA, August 8, 2018 /EINPresswire.com/ — (Montreal – August 8, 2018) Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V: OM; FRANKFURT: OB5) is pleased to announce results from on-going drilling at both the Main Zone and the Titan Zone on its wholly owned Key Anacon project, located 20 km south of Bathurst, New Brunswick. Drill hole KAMZ-18-03A intersected 46.5 metres grading 8.94% Zn, 3.14% Pb, 0.1% Cu, 98.4 g/t Ag, and 0.481 g/t Au, including 20.0m of 14.71% Zn, 5.71% Pb, 0.08% Cu, 183.00 g/t Ag and 0.46 g/t Au (see Table 1).
Drill hole KAMZ-18-03A targeted the core of the historical Main Zone deposit. This hole crosscut several massive sulphide zones (see Tables 1 and 3 as well as Main Zone Longitudinal Section) prior to intersecting 46.50 metres of high grade massive sulphides. These results confirm the thickness (true thickness estimated at 26 metres) and grades from nearby historical (1950-1960’s) underground drilling. Drill hole KAMZ-18-03A is an important early confirmation of historical drill results (see Table 2) in preparation for a maiden NI43-101 Mineral Resource Estimate, slated to be released in late 2019.
Jeff Hussey, President and CEO of Osisko Metals, commented: “We are very encouraged by the confirmation of the thickness and high grades of the core of the Main Zone Deposit. The Key Anacon project hosts two of the best targets across the entire Bathurst Mining Camp. Ongoing drilling at the Main Zone deposit is now targeting open or very sparsely drilled areas along strike and at depth. We are also seeing continued success at the nearby Titan Zone where drilling intersected significant thicknesses of Zn-Pb rich massive sulphides and new copper, silver and gold-rich zones”.
At the Titan Zone, located 1.5 kilometres to the northeast of the Key Anacon Main Zone, drill hole KA-18-02 encountered a significant copper rich zone that returned 20.9 metres grading 1.84% Cu, 1.92% Zn, 0.65% Pb, 23.73 g/t Ag and 0.46 g/t Au. Located 21 metres above this interval in the hole was a 2.1 metre intersection grading 10.52% Zn, 4.02% Pb, 0.45% Cu, 422.38 g/t Ag, and 0.09 g/t Au (see Tables 1 and 3).
Drill hole KAEZ-18-03 intersected 32.0 metres of massive sulphides including a 6.0 metre zone of 6.14% Zn, 2.68% Pb, 0.55% Cu, 43.53 g/t Ag, and 0.41 g/t Au located approximately 185 metres down-plunge from Rio Algom’s historical 1993 drill hole (KA93-42) that intersected 19.90 metres grading 7.86% Zn, 3.58 % Pb, 0.33% Cu and 78.0 g/t Ag within 82.27 metres of mineralization. This Rio Algom hole also encountered two copper-rich zones within the broader massive sulphide zone. They contained 1.83% Cu over 10.3 metres as well as 2.30% Cu over 8.5 metres. Hole KAEZ-18-03 is also situated 235 m down-plunge from KA-18-01 containing 6.07% Zn, 2.19% Pb, 0.92% Cu, 48.8 g/t Ag and 0.04 g/t Au over 22.2 metres (See Osisko Metals news release of June 27, 2018).
The Cu rich zones in KA-18-02 and KAEZ-18-03 are located down plunge from hole KA-18-01 (see Titan Zone Longitudinal Section) that intersected 7.45 metres of 2.17% Cu, 47.95 g/t Ag and 2.97 g/t Au (See Osisko Metals news release of June 27, 2018).
The deepest historical drillhole in the Titan Zone is located at over a kilometer depth. KA01-15B, encountered a 75-metre-thick interval of massive sulphides containing 5.1% Zn + Pb over 9.3 metres, 9.25 % Zn+Pb over 13.0 metres and 5.55% Zn+Pb over 24.3 metres.
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 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 programs in the 1950’s and 1960’s were 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.
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Source: EIN Presswire