Company Updates From Management – Tue 12 May, 2020

Osisko Metals – 2020 plans for Pine Point – PEA and future exploration

It was at the end of last year that we last received an update from Osisko Metals (TSX.V:OM – OTCQX:OMZNF). While news has been slow this year there are some near term drivers to watch for.

Bob Wares, CEO and Executive Chairman of Osisko Metals joins me to recap the news so far this year and look ahead to what’s planned for the rest of 2020. The focus is on Pine Point which will have a PEA released in the next month and exploration starting soon as well.

If you have any follow up questions of Bob please email me at Fleck@keport.com.

Click here to visit the Osisko Metals website and recap the Pine Point Project.

Weekend Show – Sat 16 Nov, 2019

Hour 1 – Here’s what matters for US Markets and specific metal stock comments

This week we saw more money flow into US markets while the precious metals and bonds also rebounded. Clearly there is a mass of money still on the sidelines that is desperate to find a home. With interest rates remaining low and US economic data not falling off a cliff (although it is slowing) money managers still prefer US markets. However international markets are also extending to 52 week highs.

In this weekend’s first half of this hour we focus on the balance of money flows, with the second half of the hour focused on resource stocks. We review some recent news and some new investments our guests are making.

Please keep in touch by emailing me at Fleck@kereport.com. I love hearing from all of you and do my very best to get all your questions answered.

  • Segment 1 – Trader Vic Sperandeo kicks off the show by sharing his thoughts on what is driving investors into the US markets. We also look ahead to next year and the many factors he think will drive a wide range of sectors.
  • Segment 2 – Dana Lyons and I run through his outlook for US markets, bonds, metals, and even Bitcoin. Pay close attention to what Dana has to say about the balance of where he thinks money will flow.
  • Segment 3 – Brien Leni joins me to share some of the recent investments he is making in resource companies and what news events are driving him to invest his money now.
  • Segment 4 – John Kaiser recaps a couple major news events for Skeena Resources and Osisko Metals over the past two weeks.

Exclusive Company Interviews and Comments From This Week


Trader Vic
Dana Lyons
Brien Leni
John Kaiser

Company Updates From Management – Mon 30 Sep, 2019

Osisko Metals – Comprehensive Update On Pine Point, The Bathurst Mining Camp, and Quebec Exploration

Jeff Hussey, President and CEO of Osisko Metals (TSX.V:OM & OTCQX:OMZNF) joins me for a complete update on the zinc market and the work that is ongoing. We answer some of the questions that came in starting with Pine Point, the Bathurst Mining Camp, and greenfield exploration in Quebec.

Please email me with your questions for Jeff and his team – Fleck@kereport.com.

Click here to visit the Osisko Metals website and recap the recent news.

Osisko Metals drills 13 metres of 19% zinc+lead at Pine Point

Osisko Metals of Montreal has released additional assays from 145 drill holes completed in the L-36 and L-35 areas in the East Mill zone at the Pine Point zinc-lead camp. The intersections are within flat, tabular deposits and are located between nine to 51 metres below surface.

Excellent results came from hole EM-18-PP-331 that intersected 10.23% zinc and 9.19% lead over 13.1 metres and hole EM-18-PP-209 intersected 9.60% zinc and 1.53% lead over 13.5 metres.

Notable assays were also received from hole EM-18-PP-211 that cut 20.28% zinc and 5.92% lead over 6.0 metres and hole EM-18-PP-351 WITH11.62% zinc and 2.50% lead over 10.0 metres.

Osisko gave an initial 2018 inferred resource of 38.4 million tonnes grading 4.58% zinc and 1.855 lead. The current drill program will convert unclassified, near surface historical mineralization into the current resources and to locally extend known zones of mineralization.

(This article first appeared in the Canadian Mining Journal)

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Osisko Metals tests pre-concentrating sorters

Montreal-based Osisko Metals reports successful results for pre-concentrating test work using material sorters. Two technologies were tested – x-ray transmission sorting and dense media separation.

Representative samples were prepared of material from Osisko’s Pine Point zinc-lead project 65 km east of Hay River. Pre-concentration of the ore can significantly reduce the cost of haulage and milling.

The x-ray transmission (XRT) sorting returned these results:

  • Zinc recoveries ranged from 76.5% to 98.0% (average of 92.6%);
  • Lead recoveries ranged from 94.9% to 99.7% (average of 97.8%);
  • Mass pull ranged from 34.4% to 73.5% (average of 49.1%); and
  • Average grade of rejected material is 75% zinc and 0.047% lead.

Dense media separation (DMS) provided these results:

  • Zinc recoveries ranged from 76.7% to 96.2% (average of 92.4%);
  • Lead recoveries ranged from 87.4% to 98.7% (average of 95.3%);
  • Mass pull ranged from 12.8% to 61.5% (average of 30.4%); and
  • Average grade of rejected material is 75% zinc and 0.08% lead.

Osisko said that the results were similar, but it will probably near-pit use XRT methods. XRT works with dry samples that are easy to handle when the weather gets cold. The XRT equipment is also more mobile than DMS equipment. That would be a major benefit as mining could move from one deposit to another on the property.

Pine Point was last mined by Cominco from 1975 to 1988. The weighted average zinc recovery of 91.91% for a head grade of 6.54% zinc, producing a concentrate grade of 58% zinc. The lead recovery averaged 88.69% for a head grade of 2.56% lead, producing a concentrate grading 75.68% lead. Osisko expects that its flotation tests of pre-concentrated ore to the historic records will at least match the historic results.

The Pine Point project currently has an inferred mineral resource of 39.4 million tonnes grading 4.58% zinc (containing 3.9 billion lb. of zinc) and 1.85% lead (containing 1.6 billion lb. of lead).

(This article first appeared in the Canadian Mining Journal)

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Company Updates From Management – Tue 7 May, 2019

Osisko Metals – Updates On The Bathurst Exploration Program, High Grade Results From Pine Point, and OTCQX Listing

Osisko Metals (TSX.V:OM & OTCQX:OMZNF) is continuing with another busy year. Recent high grade drill results out of the Pine Point Project and an OTCQX listing are just the start of a lot of news around the corner.

Jeff Hussy, President and CEO of Osisko Metals joins me to update us on the points above as well as a lot of information on the greenfield drill program underway at the Bathurst Mining Camp. There were a few questions that came in on the back of the high grade Pine Point results that Jeff addresses.

Please keep in touch and email me with any additional questions you have for Jeff or I – Fleck@kereport.com.

Click here for a recap of the recent Osisko Metals news.

Osisko Metals cut 9.4% Pb+Zn over 12 metres at Pine Point

Montreal-based Osisko Metals has received assay results from 127 drill holes in the M-40 area within the East Mill zone at the Pine Point mining camp 65 km east of Hay River. The results are promising and they will help convert near surface, historical drill results into an upgraded 43-101 resource estimate.

All intersections were within a flat lying, tabular deposit and none were deeper than 60 metres below surface. Here are some highlights:

  • Hole M40-18-PP-072: 12.17 metres at 8.16% zinc and 1.24% lead;
  • Hole M40-18-PP-128: 6.0 metres at 6.12% zinc and 4.31% lead;
  • Hole M40-18-PP-138: 3.83 metres at 10.84% zinc and 6.91% lead;
  • Hole M40-18-PP-140: 5.37 metres at 10.60% zinc and 1.84% lead; and
  • Hole L37-17-PP-001: 3.15 metres at 5.87% zinc and 2.73% lead.

Osisko says the M40 area contains six modeled pits within the current mineral resource and stretches over a strike length of 1,070 metres.

(This article first appeared in the Canadian Mining Journal)

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Quebec pension fund boosts share position in Osisko Metals

La Caisse de Depot et Placement du Quebec has acquired an additional 1 million shares in Osisko Metals (TSXV: OM), which is developing two zinc mining camps in Canada.

The Quebec pension fund has been a strategic partner and shareholder in the junior since 2014, and purchased the additional shares this week from Osisko Metal’s executive chairman, Robert Wares, who now owns 9.5% of the company.

Osisko Metals, which also listed on the OTCQX market this week, is advancing its flagship Pine Point project on the south shore of Great Slave Lake in the Northwest Territories and its projects in the Bathurst mining camp of northern New Brunswick.

Pine Point is the largest high-grade pit-constrained zinc deposit in the country with a 43-101 compliant inferred resource completed in December 2018 measuring 38.4 million tonnes grading 4.58% zinc and 1.85% lead.

In New Brunswick, its key Anacon project has a historic resource of 1.87 million tonnes grading 9.6% zinc and lead.

The company also owns 42,000 hectares covering 12 grass-roots zinc targets in Quebec.

This year Osisko Metals plans to decrease the drill spacing within Pure Point’s inferred resource to about 30 metres from the current drillhold spacing of between 40 and 60 metres. The company also plans an exploration program to search for new mineralization and intends to focus below and along strike of the known mineralized horizons. The work program will include an airborne gravity survey. It recently completed a LIDAR topographic survey. Following the airborne gravity survey, the brownfield exploration campaign will investigate high-potential target areas, in addition to site-wide compilation of historic datasets.

(This article first appeared in The Northern Miner)

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Osisko Metals intersects more shallow, high-grade at Pine Point, NWT

Additional results from 34 holes drilled at Osisko Metal’s (TSXV: OM) Pine Point camp on the south shore of Great Slave Lake in the Northwest Territories intersected near surface, high-grade zinc and lead values.

The holes were drilled in the project’s East Mill Zone with highlights from EM-18-PP-226, which intersected 6.30% zinc and 6.64% lead over 8.80 metres for a lead-zinc equivalent grade of 12.94%, from 29.70 metres downhole. Drill hole EM-18-PP-221 returned 7.37% zinc and 4.56% lead over 6 metres for a lead-zinc equivalent grade of 11.93%.

Currently Pine Point has an inferred resource of 38.4 million tonnes grading 4.58% zinc and 1.85% lead for a zinc-equivalent grade of 6.58%

All of the intersections in the latest batch of results from the East Mill Zone were above a vertical depth of 45 metres and are within flat-lying, tabular-style deposits, the company reports. The East Mill zone currently contains 5.5 million tonnes of 3.76% zinc and 1.30% lead.

Currently Pine Point has an inferred resource of 38.4 million tonnes grading 4.58% zinc and 1.85% lead for a zinc-equivalent grade of 6.58%.

The company intends to update a portion of its inferred resource to the indicated category before the end of the year.

Osisko Metals acquired the project in February 2018 but the area was first discovered by prospectors heading to the Klondike gold rush in 1898.

Cominco stepped in and put a mine into production in 1964 based on 21.5 million tonnes grading 7.2% zinc and 4% lead.

The mine was made up of 50 separate pits and two underground deposits lying along a 60-km trend, and was eventually closed in 1987 after producing around 64 million tonnes grading 7% zinc and 3.1% lead.

Much of the work Osisko Metals plans to do this year will be concentrated on reducing the drill spacing within the reported inferred resource to about 30 metres from the current drill-hole spacing of between 40 and 60 metres.

In addition, the company plans to explore for new mineralization below and along strike of the known mineralized horizons.

The project is accessible year-round by an all-weather road from Hay River.

(This article first appeared in The Northern Miner)

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