VANCOUVER (miningweekly.com) – Base metals explorer Osisko Metals has revealed plans for a 50 000 m drilling programme for its Pine Point zinc/lead property, located in the Northwest Territories.
The Montreal, Quebec-based company advised that, since the acquisition of the property closed early this month, it has mobilised three drill rigs to site, and has started to drill targets with poor summer accessibility.
It is funding the exploration from internal cash on hand.
According to Osisko, the programme will continue for about five weeks before spring break-up is expected, and resume by May.
Osisko advised that the aggressive campaign is meant to confirm, upgrade and expand the portfolio of more than 40 historical deposits. Shallow mineralisation will allow the company to rapidly convert the historical resources into National Instrument 43-101-compliant resources and incorporate them into economic studies, as well as test new target areas.
The historical targets are located at the electrical substation near the site of the former concentrator and the Pine Point town site. Exploration will also include an airborne geophysical survey, the company said.
Osisko is also planning metallurgical testing, advanced baseline environmental studies, and engineering trade-off studies as part of an aggressive development programme to be run in parallel to the exploration programme.