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Osisko closes definition drilling, shifts toward exploration North of 60 Mining News – September 29, 2023
Sphalerite, the mineral from which zinc metal is produced, and Galena, the mineral from which lead metal is produced, are abundant in the Pine Point region.
Osisko Metals Inc. Sept. 28 announced the next batch of assays from the 2023 drilling program at its Pine Point zinc-lead project in Northwest Territories, Canada, aimed at advancing it toward an updated resource estimate before the year is out.
According to the most recent calculation, Pine Point hosts 15.8 million metric tons of indicated resource averaging 4.17% zinc and 1.53% lead, plus 47.2 million metric tons of inferred resource averaging 4.43% zinc and 1.68% lead.
With definition drilling focusing on upgrading resources in already known deposits, the next phase will be toward exploring for new targets. Highlights from the initial results of the definition drilling include:
• 14 meters averaging 8.21% zinc and 5.3% lead in hole X25-23-PP-003.
• 33 meters averaging 11.26% zinc and 2.71% lead in X25-23-PP-004.
• 10.96 meters averaging 5.84% zinc and 0.75% lead in X25-23-PP-028.
• 6.98 meters averaging 21.09% zinc and 3.24% lead in X25-23-PP-034.
• 8.98 meters averaging 11.42% zinc and 1.79% lead in X25-23-PP-038.
• 7.98 meters averaging 24.84% zinc and 5.36% lead in X25-23-PP-039.
The latest results come from the P499 and O556 deposits, which are both prismatic-style deposits with associated tabular-style (flat-lying, like slate) aprons (layer of sediment left behind by moving glacier) in the West Zone.
Highlights from the tail end of its definition drilling include:
• 25 meters averaging 5.62% zinc and 4.57% lead in hole P499-23-PP-004.
• 28 meters averaging 10.91% zinc and 8.03% lead in O566-23-PP-005.
• 35 meters averaging 6.2% zinc and 5.44% lead in O566-23-PP-009.
Osisko says that results within the prismatic pipes defined by historical drilling were thick, high-grade intersections consistent with historical results and that one of its reported drill holes extended the known style of mineralization toward the west and remains open.
"Drill results from Pine Point continue to meet or exceed expectations and we are looking forward to an updated resource estimate before year end," said Osisko Metals CEO Robert Wares. "Now that the bulk of the definition program is done, we will focus on exploration drilling of new targets with a significant program slated for the upcoming fall/winter season, details to be provided in due time."
Over his more than 16 years of covering mining and mineral exploration, Shane has become renowned for his ability to report on the sector in a way that is technically sound enough to inform industry insiders while being easy to understand by a wider audience.
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