OMZNF - Osisko Metals: Seizing Opportunity Created By the Increased Demand for Zinc
2024-03-27 17:08:02 ET
Filling the increasing demand for zinc
Osisko Metals is a Canadian exploration and development company creating value in the base metal space with a focus on zinc mineral assets. Additionally, the Company controls Canada’s two premier zinc mining camps. The Company’s flagship properties are: 1) the Pine Point Mining Camp (“PPMC”), located in the Northwest Territories. 2) The Bathurst Mining Camp (“BMC”), located in northern New Brunswick. The Company will continue to diligently develop and explore in order to confirm and grow both projects. The Company is also active in Quebec where it is testing multiple grass-roots base metal targets.
Pine Point Mining Camp
The Pine Point Mining Camp has an Inferred Mineral Resource of 52.4 Mt grading 4.64% zinc and 1.83% lead (6.47% ZnEq). Markedly, this makes it the largest pit-constrained zinc deposit in Canada. Furthermore, the PPMC is located on the south shore of Great Slave Lake in the Northwest Territories, near infrastructure and paved highway access and with 100 kilometres of viable haulage roads already in place.
"It's a fantastic asset. It's one of the best projects/base metal projects I’ve ever been involved in." says Chairman and CEO, Robert Wares.
Geologically, extensive zinc and lead sulphide mineralization (sphalerite and galena) is within an east-west trending dolomitized reef structure at shallow depths. Mineralization is by replacement and void-filling with sulphides deposited as colloform as well as coarse, vug-fill styles. Further, on the project scale, concentrated sulphides are present in two deposit types: 1) Tabular: consisting of horizontal, locally continuous, mineralization, and 2) Prismatic: consisting of near vertical pinnacles of strong sulphide development. It is likely that the tabular deposits represent lateral fluid channel ways that connect the prismatic bodies. Both types of deposits are abundant in three parallel trends named the North Trend, Main Trend and the South Trend.
Moreover, Wares foresees a serious supply deficit coming in the next years. Mine closures in the zinc space have been ongoing for several years and he expects that many more significant camps will close in the next three years.
"We have to keep investing in base metals if we hope to deal with the upcoming demands for renewable and energy conversion. EV vehicles and renewables are not going to be possible without a serious supply of base metals." says Wares.
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