Osisko Metals drills 312.5 metres of 0.56% copper at Quebec project
Osisko Metals Inc. [OM-TSXV, OMZNF-OTC] has announced new results from the 2026 drill program at the Gaspe Copper Project, located in the Gaspe Peninsula of Eastern Quebec.
The latest results include 35 mineralized intercepts from 15 new drill holes. “This new round of drilling continues to expand the known deposit, improve grade to the south and convert waste rock to the southwest within the 2026 Mineral resource estimate (MRE) Whittle pit volume to mineralized material, said Osisko Metals CEO Robert Wares.
“Drill holes 30-1218 and 30-1223 in particular added higher grade material within and below the current pit volume,’’ he said. “We are also seeing good intercepts of mineralization outside the 2026 MRE resource model and pit limits, particularly in hole 30-1215, which is located on the eastern margin of the Needle Mountain pit.”
Headline hole DDH 30-1223 returned 312.5 metres averaging 0.56% copper and 4.89 g/t silver, including two higher-grade intervals of 36.0 metres averaging 1.88% copper and 13.3 g/t silver at the level of the B Zone skarns, and 10.5 metres averaging 2.66% copper and 23.5 g/t silver at the level of the C Zone skarns. DDH 30-1223 is a vertical infill hole located near the southern margin of the mineral resource estimate model. It extends the mineralization in this area to a vertical depth of 340 metres.
Osisko shares advanced slightly on the news, rising 0.578% or $0.01 to $1.74. The shares trade in a 52-week range of $1.99 and 38 cents.
The new drill results have been announced after Osisko recently released an updated MRE for its Gaspe Copper Project following 118,000 metres of drilling completed in 2025.
The updated MRE includes a base case, pit-constrained resource consisting of 1,834 million tonnes averaging 0.27% copper (0.32% copper equivalent CuEq) in the measured and indicated category, and 239 million tonnes averaging 0.41% copper (0.46% CuEq) of inferred material.
The measured and indicated resource represented a 119% increase in copper metal content over the previously indicated resource announced in November, 2024. The 2024 drill program successfully converted and expanded the 2024 MRE to the measured and indicated resource categories and added significant significant higher-grade inferred resources to the south, the company said in a press release.
After the updated MRE was announced, the company launched a 50,000-metre drill program with the objective of upgrading the remaining inferred resource to the indicated category and expanding the boundaries of the deposit to the Needle Point Mountain open pit. Additionally, a deep porphyry exploration program (DPEX) is designed to test the depths of the Porphyry Mountain deposit, in preparation for an inferred MRE on that deposit to be included in the next MRE update at Gaspe Copper.
The company is also working to advance one of Canada’s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. It hosts an indicated resource of 49.5 million tonnes averaging 5.52% Zinc equivalent (ZnEQ) and an inferred resource of 8.3 million tonnes averaging 5.64% ZnEq.
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