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Osisko Metals Intersects 9.25% Zinc+Lead Over 7.82 Metres at Pine Point

MONTREAL, June 19, 2018 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX-V:OM) (FRANKFURT:OB51) is pleased to announce assay results from the remaining 33 shallow drill holes completed during the winter drill program along the Central Zone trend, which includes the Hinge Zone (“HZ”) Deposit, and along the East Mill Zone trend in the L27 and K35 deposits. Highlights from the HZ Deposit and L27 Deposit are: 

Pine Point East Zone Drill Campaign B7
Pine Point East Zone Drill Campaign B7
Pine Point HZ Deposit Drill Campaign Batch 7
Pine Point HZ Deposit Drill Campaign Batch 7

In the HZ deposit, drill hole HZ-18-PP-008 intersected 8.75% Zn and 0.49% Pb over 7.82 metres, and hole HZ-18-PP-002 intersected 9.16% Zn and 0.24% Pb over 5.10 metres. In the East Mill Zone – L27 deposit, hole EM-18-PP-092) intersected 2.7 metres grading 16.99% Zn and 4.35% Pb. All intersections are within near surface flat-lying tabular deposits. All intercepts reported in the HZ deposit are located above 83 metres depth. Reported intersections from the L27 deposit in the East Mill Zone are above 30 metres depth. (See 2018 Winter Drill Campaign East Mill Zone Map B7).

Highlights are listed below in Table 1 and details are provided in Tables 2 & 3.

Table 1:

Hole Name Deposit From To Width Lead Zinc Lead + Zinc
    (metres) (metres) (metres) % % %
HZ-18-PP-008 HZ 71.40 79.22 7.82 0.49 8.75 9.25
HZ-18-PP-002 HZ 61.70 66.80 5.10 0.24 9.16 9.41
EM-18-PP-092 L27 15.10 17.80 2.70 4.35 16.99 21.34

Note: Zinc + Lead grades are rounded to 1/100.

The Central Zone is a chain of deposits in intermittently mineralized dolomite alteration that trends over 7.5 kilometres and hosts the L65 deposit (see news release June 12th, 2018) and the HZ deposit. Relatively continuous mineralization is currently traced for 3.0 kilometres in strike length. The eastern end of the Central Zone is located 11 kilometres to the west of the electrical sub-station along the main haulage road. Multiple mineralized zones were intersected in 3 drill holes in the HZ deposit. Historical resources reported by Cominco Limited for the HZ Deposit are 1.9Mt at 3.8% Zn and 0.9% Pb. (See 2018 Winter Drill Campaign Hinge Zone Map B7).

The East Mill Zone (see news releases May 1st, May 15th, May 29th, June 7th, and June 12th, 2018) is a 7.6-kilometre trend that extends towards the east from the electrical substation area. Multiple mineralized intercepts were reported in 4 of the drill holes completed in the East Mill Zone. See Osisko Metals website for additional geological background on both the Central Zone and East Mill Zone.

Results from drilling to date are compatible with the historical Cominco Limited drill hole data base that has been compiled by the Company. Drilling is ongoing with the start of the summer program. One drill is active with 2 drills arriving shortly. An additional 6 drills are planned to arrive in early July. The summer drill program will consist of approximately 570 drill holes and will focus on the East Mill Zone and the Central Zone. This aggressive program is designed to bring the core areas to a drill spacing of approximately 30 metres to confirm historical intercepts drilled by Cominco Limited, required to utilize the historical holes in an upcoming compliant resource estimate. The majority of Cominco holes have been found in the field and locations are being surveyed to required standards.

Note regarding historical resource and Qualified Person

The above-mentioned historical resources do not conform to National Instrument 43-101 standards. The Company is reporting the historical estimates for reference purposes only. Neither Osisko Metals nor its consultants have completed sufficient work to verify the historical estimates and these should not be relied upon for investment purposes. A Qualified Person has not done sufficient work to classify the historical estimates as NI43-101 compliant mineral resources and there is no guarantee that such work will allow conversion of such historical resources. (I would suggest to remove the historical reference within the text to omit the disclosure or keep the historical reference but include the disclosure in the foot notes or cautionary statement)

Stanley G. Clemmer, P. Geo is the Qualified Person responsible for the technical data reported in this news release. He is a Professional Geologist registered in the Northwest Territories and is Chief Geologist for Pine Point Mining Limited, a wholly owned subsidiary of Osisko Metals Limited.

Quality Assurance / Quality Control

Osisko Metals adheres to a strict Quality Assurance and Quality Control program with regard to core handling, sampling, transportation of samples and lab analyses. Drill core samples from the Pine Point project area were securely transported to its core facility in Hay River, Northwest Territories where they were logged and sampled. Samples selected for assay were shipped via secure transportation to the ALS Canada Ltd’s preparation facility in Yellowknife. Pulps were analyzed at the ALS Canada Ltd. facility in North Vancouver, British Columbia. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for ultra-trace level detection for a multi-element suite with a 1% upper detection limit for base metals.  Samples reporting over 1% for Zn and 1% for Pb are analyzed by assay grade four acid digestion and ICP-AES analysis with an upper detection limit of 30% and 20% respectively.  Samples reporting Zn >30% and or Pb >20% are analyzed by traditional titration.

Table 2: Composite Assay Results

<td class="gnw_border_right_solid gnw_border_bottom_solid gnw_

Hole Name Area Historical
Deposit
From To Width True Width Lead Zinc Lead + Zinc
    (metres) (metres) (metres) (metres) % % %
HZ-18-PP-001 Central HZ No significant results
HZ-18-PP-002 Central HZ 61.70 66.80 5.10 5.10 0.24 9.16 9.41
HZ-18-PP-002 Central HZ 75.95 76.20 0.25 0.25 1.50 2.07 3.57
HZ-18-PP-003 Central HZ 74.60 77.00 2.40 2.18 0.02 2.96 2.98
HZ-18-PP-004 Central HZ 69.75 70.75 1.00 1.00 0.02 1.40 1.42
HZ-18-PP-005 Central HZ 70.62 71.32 0.70 0.63 0.01 5.32 5.33
HZ-18-PP-006 Central HZ 70.05 71.35 1.30 1.06 0.63 1.41 2.03
HZ-18-PP-006 Central HZ 79.00 83.65 4.65 3.81 0.03 1.32 1.35
HZ-18-PP-007 Central HZ 67.55 68.80 1.25 1.13 0.52 1.10 1.62
HZ-18-PP-007 Central HZ 71.00 77.25 6.25 5.66 0.08 1.44 1.52
HZ-18-PP-008 Central HZ 71.40 79.22 7.82 7.09 0.49 8.75 9.25
HZ-18-PP-009 Central HZ 79.95 81.35 1.40 1.15 0.06 2.43 2.49
EM-18-PP-077 East Mill K35 24.70 25.65 0.95 0.82 0.09 15.00 15.09
EM-18-PP-082 East Mill K35 38.20 40.30 2.10 1.82 0.19 0.95 1.14
EM-18-PP-052 East Mill L27 12.35 13.30 0.95 0.82 0.14 1.03 1.17
EM-18-PP-052 East Mill L27 19.50 20.90 1.40 1.21 0.09 1.34 1.43
EM-18-PP-053 East Mill L27 No significant results
EM-18-PP-055 East Mill L27 24.35 26.50 2.15 1.76 3.83 12.52 16.35
EM-18-PP-058 East Mill L27 20.70 22.10 1.40 1.21 1.12 3.95 5.07
EM-18-PP-058 East Mill L27 28.60 29.10 0.50 0.43 0.03 1.55 1.58
EM-18-PP-058 East Mill L27 30.35 31.20 0.85 0.74 0.15 2.83 2.98
EM-18-PP-059 East Mill L27 17.16 19.25 2.09 1.81 2.22 0.53 2.75
EM-18-PP-059 East Mill L27 24.90 27.60 2.70 2.34 0.16 2.52 2.68
EM-18-PP-059 East Mill L27 30.00 31.00 1.00 0.87 0.01 1.51 1.52
EM-18-PP-060 East Mill L27 25.05 27.23 2.18 1.79 1.40 3.05 4.45
EM-18-PP-060 East Mill L27 36.00 38.55 2.55 2.09 0.09 1.42 1.51
EM-18-PP-064 East Mill L27 28.50 35.10 6.60 5.41 0.48 2.61 3.09
EM-18-PP-065 East Mill L27 No significant results
EM-18-PP-069 East Mill L27 26.10 27.20 1.10 1.10 1.30 7.51 8.81
EM-18-PP-072 East Mill L27 17.80 18.40 0.60 0.52 2.55 4.58 7.13
EM-18-PP-074 East Mill L27 20.25 21.15 0.90 0.82 2.60 7.47 10.07
EM-18-PP-074 East Mill L27 24.90 25.50 0.60 0.54 0.06 2.78 2.84
EM-18-PP-075 East Mill L27 10.00 11.90 1.90 1.56 0.23 1.52 1.76
EM-18-PP-075 East Mill L27 13.35 14.00 0.65 0.53 0.34 1.89 2.23
EM-18-PP-075 East Mill L27 16.40 17.05 0.65 0.53 0.53 0.84 1.37
EM-18-PP-076 East Mill L27 23.25 24.40 1.15 0.94 1.83 10.53 12.35
EM-18-PP-084 East Mill L27 16.30 16.65 0.35 0.27 2.55 10.00 12.55
EM-18-PP-085 East Mill L27 14.75 15.80 1.05 0.91 0.02 2.62 2.64
EM-18-PP-085 East Mill L27 18.95 19.55 0.60 0.52 0.37 2.79 3.16
EM-18-PP-085 East Mill L27 20.90 22.35 1.45 1.26 0.14 1.27 1.41
EM-18-PP-086 East Mill L27 No significant results
EM-18-PP-087 East Mill L27 18.30 19.30 1.00 0.87 0.83 2.42 3.25
EM-18-PP-090 East Mill L27