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Potential zinc producer continues development plans



Osisko Metals 2021 exploration and development plans for Pine Point focus on continuing to de‐risk the project and bring further improvements to the 2020 Preliminary Economic Assessment (“PEA”). 

Drilling that began January 14 focused on infill and extension drilling in the Western Zone with the objective of converting the bulk of three high‐priority prismatic deposits to the Indicated Resource category. 

Hydrogeological studies and tests planned across the property to further refine the dewatering model used in the 2020 PEA could lead to substantial water management cost reductions over the life of the mine. 

Pine Point is a Tier 1 zinc development project. Pine Point combines excellent open pit metal grades with available infrastructure and projected low operating costs, pointing to the potential for a “Top 10” global zinc producer. 

Pine Point would produce, on average, over 350M lbs of zinc during its first six years of operation. This would make Pine Point the eighth largest zinc mine in the world. The proposed mine would have a 10‐year life. However, with over a dozen individual deposits still open along strike, there is substantial potential to increase the mine life beyond that. 

The Pine Point Project is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure, paved highway access, and has 100 kilometres of viable haulage roads already in place. 

With Osisko Metals request for an environmental assessment of its project to the Mackenzie Valley Environmental Impact Review Board, Osisko expects the review decision to be reached by the third quarter of 2023.