By Cory댊
Osisko Metals Intersects Massive Sulphides Over 85 Meters Including 6.07 %Zn, 2.19 %Pb, and 0.92 %Cu Over 22.2 Metres and 2.17% Cu, 0.064% Co, & 2.97 g/t Au Over 7.45 Metres at the Key Anacon Project, NB
Here are some drill results from Osisko Mining released yesterday on the Key Anacon Project in the Bathurst Mining Camp. This Company has been consistently releasing some great drill results from the Pine Point project over the past couple months. Now we get these results but the stock still seems stuck.
If any of you have thoughts on why the stock is not getting love on the back of solid drill results please let me know by commenting or better yet emailing me at Fleck@kereport.com.
I will also be chatting with the President and CEO of Osisko Metals Jeff Hussey on this weekend’s show. Jeff answers a number of questions that have come in regarding the Pine Point Project.
Click here to visit the Osisko Metals website for more Company info.
…Here are the drill results…
MONTREAL, June 28, 2018 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB5) is pleased to announce results from the Titan Zone (formerly the East Zone) at its Key Anacon project located 20 km south of Bathurst, New Brunswick. Drill hole KA-18-01 intersected 6.07% Zn, 2.19% Pb, 0.92% Cu, 48.8 g/t Ag, and 0.04 g/t Au over 22.2 metres. In addition to the predominantly Zinc – Lead (“Zn-Pb”) rich intersections, a significant Copper (Cu), Cobalt (Co), Gold (Au) zone was also encountered adjacent to the Zn-Pb interval and returned 2.17% Cu, 0.064% Co and 2.97 g/t Au over 7.45m within the broader massive sulphide zone. These are the first gold and cobalt assays conducted on the project, as these elements were not ever analysed for in past exploration programs at the Key Anacon property. A sample from this zone has been sent for mineralogical examination to determine the potential recoverability of these elements.
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This drill hole crosscut several massive sulphide zones within the Titan Zone that is located 1.5 km northeast of Key Anacon’s Main Zone. The sulphides are interpreted to be located in the nose of a steeply plunging anticlinal fold that hosts mineralization to over a kilometer in depth (See Key Anacon Titan Zone Long Section B1). The Company will continue testing the extents of these deposits within the current 12,000 metre drill program.
KA-18-01 intersected the reported sulphide zones approximately 50m up-plunge from mineralized intercepts in a historical drillhole drilled by Rio Algom in 1993, that intersected 19.9 metres grading 7.86% Zn, 3.58 % Pb, 0.33% Cu and 78 g/t Ag within a mineralized interval of 3.38% Zn, 1.35% Pb, 0.75% Cu and 40.94 g/t Ag over 82.27 metres. The deepest hole encountered a 75m thick interval of massive sulphides containing 5.1% Zn+Pb over 9.3m, 9.25% Zn+Pb over 13.0m and 5.55% Zn+Pb over 24.3m at over a kilometer depth.
Exploration potential at the Key Anacon property 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.
Highlights:
| Hole No. | From (m) |
To (m) | Drill width(m) |
Zn (%) |
Pb (%) |
Cu (%) |
Ag (g/t) |
Au (g/t) |
Co (%) |
| KA-18-01 | 212.50 | 215.35 | 2.85 | 2.46 | 0.44 | 0.28 | 25.53 | 0.04 | 0.046 |
| KA-18-01 | 283.30 | 305.50 | 22.20 | 6.07 | 2.19 | 0.92 | 48.80 | 0.04 | 0.015 |
| KA-18-01 | 347.55 | 357.80 | 10.25 | 6.37 | 2.43 | 0.63 | 65.51 | 1.28 | 0.021 |
| KA-18-01 | 341.05 | 348.50 | 7.45 | 1.85 | 0.84 | 2.17 | 47.95 | 2.97 | 0.064 |
Jeff Hussey, President and CEO of Osisko Metals, commented: “The Titan Zone also hosts significant Cu stringer mineralization to the north of the current Zn-Pb mineralization with drill intercept values up to 2.71% Cu over 6.0m and 3.6% Cu over 6.1m over a 1km strike length. Historically, gold (Au) was never assayed for in previous drilling on the Titan Zone. We are very optimistic about the potential exploration upside of the Key Anacon project.”
Table 1: Drill hole information and location in New Brunswick Double Stereographic Projection (NBS)
| Hole Number |
Azimuth (degrees) |
Dip (degrees) |
Length (m) |
Easting NBS |
Northing NBS |
| KA-18-01 | 056 | -73 | 404.0 | 2561438.9 | 7605370.3 |
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 sulphides deposits containing zinc, lead, copper and silver. The Key Anacon Main Zone and Titan Zone deposits are situated at the same stratigraphic horizon that hosts the Brunswick No. 12 & No. 6 deposits. The property covers approximately 12 kilometres of favourable Nepisiguit Falls stratigraphy that also extends onto the surrounding claims held 100% by Osisko Metals.
No resources/reserves estimates have been calculated under NI 43-101 guidelines. Except for exploration programs conducted in 1992-1993 and 2000, almost all of the drilling took place in the 1950’s and 60’s, prior to currently required standards for quality assurance and quality control. The earlier drilling lead 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 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.
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 …read more
From:: The Korelin Economic Report