In the last year, newly minted Osisko Metals (TSXV: OM; US-OTC: BWMXF) has picked up over 50,000 hectares in New Brunswick’s Bathurst mining camp, the third largest volcanogenic massive sulphide (VMS) camp in the world.
“We’ve been scouring the base metal space looking for new opportunity,” Jeff Hussey, the junior’s president and CEO, told analysts and investors during a presentation at Red Cloud’s recent annual fall conference. “We’re trying to get a cluster of deposits within a 25-30 km trucking distance that would feed a central concentrator.”
The company’s focus is on zinc, a base metal whose price has doubled to about US$1.43 per lb. over the last twelve months, and one which Hussey knows well after spending 20 years at Noranda, including a stint working at the Brunswick No. 12 mine in the Bathurst camp.