TSX Venture Copper Miner Osisko Metals (TSX-V: OM) Making Moves

(MENAFN- Investor Ideas) Investorideas ( ), a go-to platform for big investing ideas for traders, including mining Stocks reports on trading for Osisko Metals (TSX-V: OM; OTCQX: OMZNF)

The stock makes the TSXV notable gainers list on trading today , currently trading at 0.2850, gaining 0.0350, up 14.00% on volume of over 384,000 as of this report.

Last week Osisko announced an updated Mineral Resource Estimate ("MRE") for the Gaspé Copper Project, located near Murdochville in the Gaspé Peninsula of Quebec.

The updated MRE (Table 1) includes pit-constrained resources comprising 824 million tonnes grading 0.34% CuEq of Indicated category and 670 million tonnes grading 0.38% CuEq of Inferred category. This MRE represents a 53% increase in copper-equivalent metal content over the previously reported Indicated Resource and a 100-fold increase in copper-equivalent metal content in Inferred Resources (see May 6, 2024 news release and entitled "2024 Copper Mountain Mineral Resource Estimate").

At 4.91 billion pounds (2.23 million tonnes) of contained copper (Table 1), as well as significant molybdenum (274 million pounds) and silver (46.0 million ounces), the latest Gaspé Copper in-pit Indicated Resource hosts by far the largest undeveloped copper-molybdenum deposit in Eastern North America, exclusive of Inferred resources.

Robert Wares, CEO & Chairman, commented: "We are very proud to announce this updated resource estimate for Gaspé Copper. The overall resource has increased dramatically since last spring's MRE as a result of new geological modelling and extending the modelled Whittle pit boundaries towards Needle Mountain to the south. A minimum 70,000 metre drill program is now planned for 2025, with the objective of converting the bulk of the current Inferred resource to Indicated category. There is also excellent potential for converting currently categorized in-pit waste rock to mineralized material with this drill program, which would further grow the in-pit resource while reducing the strip ratio. This MRE represents a much larger resource than was estimated previously, presenting the potential for a bulk tonnage mining operation with significantly higher throughput. Given this new resource milestone, management has elected to defer the PEA, originally slated for release in Q1 2025, to a later date until additional new drilling is completed. Ongoing studies will focus on a larger-scale mine plan and relocation of the mill complex away from the current site."

Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company is in joint venture with Appian Capital Advisory LLP to advance one of Canada's largest zinc mining camps, the Pine Point Project, located in the Northwest Territories, for which current mineral resources have been calculated for the 2024 MRE (as defined herein). The project is owned by the joint venture Pine Point Mining Limited. The current mineral resource estimate consists of 49.5 Mt at 5.52% ZnEq of Indicated Mineral Resources and 8.3 Mt at 5.64% ZnEq of Inferred Mineral Resources (in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects; see Osisko Metals' June 25, 2024, news release entitled "Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq"). The Pine Point project is located on the south shore of Great Slave Lake, Northwest Territories, close to infrastructure, with paved road access, an electrical substation and 100 kilometers of viable haul roads.

In addition, and aside from the Pine Point joint venture, the Company acquired in July 2023, from Glencore Canada Corporation, a 100% interest in the former Gaspé Copper mine, located near Murdochville in Québec's Gaspé Peninsula. The company is currently focused on resource expansion of the Gaspé Copper system, which includes this updated mineral resource as well as the previously released resource comprising Indicated Mineral Resources of 495 Mt grading 0.37% CuEq and Inferred Mineral Resources of 6.3 Mt grading 0.37% CuEq (in compliance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects); see May 6, 2024 news release entitled "Osisko Metals Announces Updated Mineral Resource Estimate at Mines Gaspé - Indicated Resources of 495 Mt at 0.37% CuEq"). Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Quebec.

Recent news release

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