Osisko Metals (TSXV: OM; OTCQX: OMZNF) released its latest resource estimate for the Pine Point zinc project near Hay River, NWT. BBA Inc. prepared the report, which will be used for the feasibility study planned to begin in the third quarter this year.
The indicated resource is 49.5 million tonnes grading 4.22% zinc and 1.49% lead (5.52% zinc equivalent). The East Mill, Central and North zones contain about 36.2 million tonnes containing 3.2 billion lb. zinc and 1.1 billion lb. lead in-situ.
The inferred resource is 8.3 million tonnes grading 4.22% zinc and 1.69% lead (5.64% zinc equivalent).
Compared to the previous estimate, the current indicated resource has increased by 214% with an associated decrease of the inferred resource.
The underground resource includes 4.3 million indicated tonnes grading 11.08% zinc equivalent and 3.0 million inferred tonnes at 5.64% zinc equivalent.
The Pine Point project includes historic open pits that were operated by Cominco from 1965 to 1988. They produced 10.8 million tonnes of lead and zinc concentrates.
More information is posted on www.OsiskoMetals.com.
