Osisko Metals Incorporated reports 94.4m at 1.47% copper at Gaspé
The infill interval sits inside the April resource model; a separate 106.5-metre intersection lies beyond the pit boundary.
Mara Quinlan
Osisko Metals Incorporated TSEOM OTCMKTSOMZNF said Wednesday that hole 30-1251 at its Gaspé Copper project in Quebec cut 94.4 metres averaging 1.47 per cent copper inside its resource model. The infill work aims to upgrade part of the April estimate's 239 million inferred tonnes, which averaged 0.41 per cent copper.
Shares fell 1.7 per cent to C$1.73 at the Oct. 6 close in Toronto, before the assays were announced, according to the TSEOM quote page as of 4 p.m. EDT that day.
The company reported 38 mineralized intervals from 12 drill holes. Outside the current pit model, hole 30-1250 returned 106.5 metres at 0.60 per cent copper, which Osisko says could support a future resource addition.
Another infill hole, 30-1258, returned 121.0 metres at 0.71 per cent copper in a previously unknown porphyry intrusion below the E Zone skarn horizon. Osisko said more drilling would test whether the finding points to a third mineralized porphyry centre at Gaspé.
"Additional drilling will be designed to further test this interpretation," chief executive Robert Wares said in the Oct. 7 release.
The main interval of 94.4 metres in hole 30-1251 began at 429 metres downhole, according to the company's assay table. Within it, 5.3 metres averaged 8.31 per cent copper and 51.0 grams per tonne silver.
A separate, shallower interval in the same hole ran 185.5 metres at 0.41 per cent copper. Osisko classed both intersections as infill, aimed at testing mineralization already inside the resource model before a new estimate is calculated.
The interval outside the pit in hole 30-1250 included 15.9 metres at 1.92 per cent copper. Silver averaged 11.0 grams per tonne in that section. The hole tested the north slope of Needle Mountain, passing through pillars of the former C Zone underground workings.
Farther south, hole 30-1259 returned 66.0 metres at 0.45 per cent copper. It lies about 320 metres beyond the southern limit of the resource model, where Osisko says mineralization remains open.
The April resource estimate contained 1.83 billion measured and indicated tonnes averaging 0.27 per cent copper, using a 0.16 per cent copper equivalent cut-off. Its separate inferred category held 239 million tonnes at 0.41 per cent copper. Wednesday's assays do not change those published resource totals.
Osisko is developing a former copper mine near Murdochville on Quebec's Gaspé Peninsula. Its April resource estimate followed 118,000 metres of drilling in 2025, and the company set out a further 50,000-metre drill campaign for 2026. That plan also called for testing deeper porphyry mineralization and extensions toward Needle Mountain.
Toronto trading on Wednesday, Oct. 7, will be the first session since Osisko issued the new assays.
