Osisko Metals (TSX-V: OM) shares rose on Friday after the company announced an updated mineral resource estimate (MRE) for the Gaspé copper project, near Murdochville, in Quebec.
The updated estimate includes pit-constrained resources comprising 824 million tonnes grading 0.34% copper-equivalent in the indicated category and 670 million tonnes grading 0.38% copper-equivalent in the inferred category.
This 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. Following the update, shares of Osisko Metals rose 6.5% by 12:10 p.m. EDT. The miner has a market capitalization of $44.6 million.
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