Osisko Metals Incorporated has recently announced the 2024 Mineral Resource Estimate Update for the Pine Point Project located near Hay River in the Northwest Territories of Canada. The update includes Indicated Mineral Resources of 49.5Mt grading 4.22% zinc and 1.49% lead, containing approximately 4.6 billion pounds of zinc and 1.6 billion pounds of lead in situ. Additionally, there are Inferred Mineral Resources of 8.3Mt grading 4.18% zinc and 1.69% lead, containing around 0.7 billion pounds of zinc and 0.3 billion pounds of lead in situ.
Compared to the previous Mineral Resource Estimate, the majority of the mineral resources have been successfully converted to the Indicated category. The project includes supporting infrastructure like paved roads, a railhead in Hay River, and an on-site hydroelectric substation, providing access to most deposits in the 2024 MRE.
The 2024 MRE is divided into five geographic zones, each composed of individual deposits. The project has significant potential for economic extraction, with reasonable prospects for eventual development.
Metallurgical test work is ongoing to support the flow-sheet design for the process plant. The company is also conducting a brownfield exploration campaign to discover high-grade prismatic-style deposits, with a focus on using geophysical surveys for targeting new deposits.
Overall, Osisko Metals is advancing its projects with the support of Appian Capital Advisory LLP, a leading investment advisor in the mining industry. The future looks promising for the Pine Point Project, with the potential to become a significant producer of zinc and lead concentrates globally.
