VANCOUVER (miningweekly.com) – Base metals focused project developer Osisko Metals has signed an agreement to buy the Key Anacon claims and surrounding area, in the Bathurst Mining Camp (BMC) of New Brunswick, from Hunter Brook Holdings.
Based in Montreal, Quebec, Osisko has in recent quarters been actively consolidating base metals-focused assets in the region, with the aim of establishing a multi-deposit asset base that could feed a central concentrator.
Osisko will make staged cash-and-scrip payments to the value of about C$2-million.
"We are very happy to announce the purchase of the historical Key Anacon deposits as they will contribute significant resources and could become the cornerstone of Osisko Metals central concentrator multi-deposit concept in the Eastern portion of the BMC. Drilling is being planned and will consist of approximately 12 000 m to explore the area in an attempt to increase the global historical resources and upgrade them to NI 43-101 standards,” president and CEO Jeff Hussey stated.
Key Anacon is located within the BMC and is roughly 19 km south of the town of Bathurst, and 16 km southeast of the former Brunswick #12 mine. Key Anacon comprises 45 claim units with a total surface area of 981 ha and hosts about 12 km of the Brunswick Horizon, which extends onto adjacent and surrounding claims held by Osisko Metals.
Key Anacon contains two significant Bathurst-type volcanogenic massive sulphide deposits. Both the Main and East Deposits are hosted within the Brunswick Horizon stratigraphy that is similar to the former Brunswick #12 Mine host rocks. Key Anacon's historical resources are not National Instrument 43-101-compliant, and no known current mineral resource estimate has been conducted and the drill data available pre-dates current regulations and quality control standards.
The New Brunswick Ministry of Energy, Mines and Petroleum Mineral Occurrence Database reports that the Main deposit contains historical resources that total 1.87-million tonnes grading 6.93% zinc, 2.63% lead, 0.16% copper, and 84 g/t silver in multiple, folded lenses.
The Key Anacon East deposit is located 1.5 km along strike to the northeast from the Main deposit and it has been intersected by several holes.
Key Anacon was last explored in 2001. Osisko considers the property to have substantial exploration potential, as well as on the adjacent Osisko Metals claims, based on the presence of these significant deposits hosted within the considerable strike length of the favourable Brunswick Horizon, with alteration and folding typically associated to BMC deposits.
In Quebec, Osisko has also amassed 42 000 ha that cover 12 grass-root zinc targets that will be selectively advanced through exploration.