Osisko Metals is assessing the potential for restarting zinc/lead mining at Pine Point, east of Hay River. Winter drilling at Pine Point has found positive signs that might reduce the cost of developing a mine at the site.
New hydrogeological testing at Pine Point indicates a significant and positive change to the company’s understanding of ground water flow conditions with potential to significantly reduce costs related to future dewatering. The underground water flow appears to be preferentially controlled by faults and/or fracture zones with little influence related to formational aquifers.
The new information will be included in an updated Preliminary Economic Assessment in the first quarter of 2022 with a new 3D hydrogeological model, and it should significantly lower estimates for life‐of‐mine water management.