Osisko Metals’ update reveals 3.2B lb red metal asset at Copper Mountain – by Staff (Northern Miner – May 6, 2024)


A resource update for Osisko Metals‘ (TSXV: OM; US-OTC: OMZNE) Copper Mountain deposit in Quebec increases the copper-equivalent metal content by 30% over the previous estimate, making it the largest undeveloped copper asset in eastern North America, the company says.

The update puts the deposit at 495 million indicated tonnes grading 0.30% copper, 0.016% molybdenum, and 1.75 grams silver per tonne (0.37% copper equivalent), Osisko said in a news release Monday. That resource contains 3.2 billion lb. copper, 180 million lb. molybdenum, and 27.9 million oz. silver.

There’s an additional 6.3 million inferred tonnes at 0.30% copper, 0.19% molybdenum, and 1.44 grams silver (0.37% copper equivalent). “We are extremely pleased with the results of the updated mineral resource estimate for the Copper Mountain deposit,” Osisko Metals CEO and chair Robert Wares said.

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