Osisko Intersects 320 Metres Averaging 0.38% Cu at Gaspé

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Postmedia has not reviewed the content. by GlobeNewswire Osisko Intersects 320 Metres Averaging 0.38% Cu at GaspéAuthor of the article: You can save this article by registering for free here. Or sign-in if you have an account.Gaspé Copper Drill Intercept Highlights July 23, 2026 (plan view). GNWMONTREAL, July 23, 2026 (GLOBE NEWSWIRE) — Osisko Metals Incorporated (the “Company” or “Osisko Metals”) (TSX: OM; OTCQX: OMZNF; FRANKFURT: 0B51) is pleased to announce new results from the 2026 drill program at the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountNew analytical results from the 2026 drill program are presented below (see Table 1), including 25 mineralized intercepts from 12 new drill holes. Reported “infill” intercepts are located within the 2026 MRE model (see April 14, 2026 news release), and will be focused on upgrading Inferred Mineral Resources to Measured or Indicated categories, as applicable. “Expansion” intercepts are located outside the 2026 MRE model and comprise either A) in-pit expansion, which offers potential to convert in-pit waste into additional resources within the 2026 MRE Whittle pit, or B) out-of-pit expansion, consisting of mineralization located out of the 2026 MRE Whittle pit, which may potentially lead to the definition of new resources. Some of the reported intercepts may have contiguous shallower infill as well as deeper expansion (noted as “Both”). Maps showing hole locations are available at www.osiskometals.com.Osisko Metals Chief Executive Officer Robert Wares commented: “Drilling at the Gaspé Copper Project continues to advance with seven drills currently active at site, and our work continues to expand the known deposit to the south and southwest, both within and beyond the 2026 MRE Whittle pit volume. The new drilling is showing excellent potential for conversion of currently categorized in-pit waste rock to new mineralized zones in the direction of Needle East and Needle Mountain. We are also seeing good intercepts of mineralization outside the 2026 MRE resource model with copper grades exceeding the current average, such as in holes 30-1198, 30-1201, and 30-1208.”Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again320.5 metres averaging 0.38% Cu (Both in-pit and out-of-pit expansions) in DDH 30-1198337.0 metres averaging 0.35% Cu (Infill) in DDH 30-1203207.5 metres averaging 0.43% Cu (Both in-pit and out-of-pit expansions) in DDH 30-1208281.5 metres averaging 0.28% Cu (Out-of-pit expansion) in DDH 30-1205154.5 metres averaging 0.38% Cu (Out-of-pit expansion) in DDH 30-1201 77.0 metres averaging 0.67% Cu (In-pit expansion) in DDH 30-1206Table 1: Infill and Expansion Drilling ResultsDDH No.From (m)To (m)Length (m)Cu %Ag g/tMo %CuEq* %Type**30-11973.4110.0106.60.201.81<0.0050.20Expansion 1And136.0376.5240.50.292.43<0.0050.30Expansion 1+2(including)136.0244.5108.50.312.29<0.0050.31Expansion 1(including)244.5376.5132.00.294.42<0.0050.30Expansion 230-119826.0346.5320.50.383.41<0.0050.39Expansion 1+2(including)26.0150.0124.00.241.83<0.0050.24Expansion 1(including)150.0346.5196.50.475.57<0.0050.48Expansion 230-119972.096.024.00.232.75<0.0050.23InfillAnd177.0195.018.00.363.17<0.0050.37InfillAnd279.0316.537.50.242.490.0120.28InfillAnd387.0439.552.50.455.32<0.0050.46Infill30-120089.0159.070.00.161.49<0.0050.16Expansion 1And300.0385.585.50.432.630.0240.51Expansion 1(including)331.5345.213.71.6610.50.0291.76Expansion 1And531.5637.5106.00.151.040.0370.27Expansion 230-12018.0108.0100.00.251.79<0.0050.25Expansion 1+2And171.0325.5154.50.383.84<0.0050.39Expansion 230-1202183.0207.024.00.292.760.0070.31Expansion 1And232.0262.530.50.575.18<0.0050.58Expansion 230-120314.0351.0337.00.352.77<0.0050.35Infill30-1204240.0268.528.50.242.24<0.0050.25Expansion 230-120577.0358.5281.50.282.73<0.0050.29Expansion 230-120612.047.035.00.191.46<0.0050.19Expansion 1And104.0129.625.60.323.08<0.0050.33Expansion 1And208.0285.077.00.674.610.0160.72Expansion 1(including)232.5250.518.01.8211.00.0471.99Expansion 130-120712.5146.0133.50.211.93<0.0050.22Expansion 2And223.7283.559.80.191.13<0.0050.19Expansion 230-12087.0214.5207.50.433.31<0.0050.43Expansion 1+2(including)7.088.081.00.403.10<0.0050.40Expansion 1(including)88.0214.5126.50.443.45<0.0050.44Expansion 2And264.0332.768.70.332.49<0.0050.33Expansion 2And359.6408.348.70.453.82<0.0050.46Expansion 2 This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.** Infill refers to intercepts within the current MRE model; Expansion 1 refers to in-pit intercepts outside of the current MRE model; Expansion 2 refers to out-of-pit intercepts outside of the MRE model. “Both” indicates drill holes that havecontiguous shallower infill as well as deeper expansion intercepts. Drill holes 30-1197 and 30-1198, located on the northern flank of Needle East and outside the 2026 MRE model, are vertical holes that cut significant mineralized intervals both within and outside the 2026 Whittle pit volume. Drill hole 30-1197 cut two mineralized intervals within the 2026 Whittle pit volume, including 106.6 metres averaging 0.20% Cu and 1.18 g/t Ag and a deeper interval of 108.5 metres averaging 0.31% Cu and 2.29 g/t Ag.The deepest interval, below the 2026 Whittle pit volume, consisted of 132.0 metres averaging 0.29% Cu and 4.42 g/t Ag, extending mineralization in this area to a vertical depth of 376 metres. Drill hole 30-1198, located 156 metres west of 30-1197, cut a contiguous mineralized interval of 320.5 metres averaging 0.38% Cu and 3.41 g/t Ag that included 124.0 metres averaging 0.24% Cu and 1.83 g/t Ag within the 2026 Whittle pit volume and 196.5 metres averaging 0.47% Cu and 5.57 g/t Ag below the 2026 Whittle pit volume, extending mineralization in this area to a vertical depth of 346 metres.Drill holes 30-1199 and 30-1203 are infill holes located near the southwestern limits of the 2026 MRE model. Drill hole 30-1199 cut four mineralized intervals 18.0 to 52.5 metres long averaging 0.23% to 0.45% Cu and 2.75 to 5.32 g/t Ag, extending mineralization in this area to a vertical depth of 418 metres. Drill hole 30-1203 cut a contiguous mineralized interval of 337.0 metres averaging 0.35% Cu and 2.77 g/t Ag, extending mineralization in this area to a vertical depth of 351 metres.Drill hole 30-1200, located 70 metres outside the western limit of the 2026 MRE model, is a southwesterly inclined hole that intersected three mineralized intervals. The first two are located within the 2026 Whittle pit volume and include 70.0 metres averaging 0.16% and 1.49 g/t Ag followed by 85.5 metres averaging 0.43% Cu and 2.63 g/t Ag. The third interval, located below the 2026 Whittle pit volume, cut 106.0 metres averaging 0.15% Cu and 1.04 g/t Ag. This hole extended mineralization in this area to a vertical depth of 618 metres.Drill hole 30-1201, located between Needle East and Needle Mountain and outside the 2026 MRE model, is a vertical hole that cut two mineralized intervals, the first, mostly within the 2026 Whittle pit volume, consisting of 100.0 metres averaging 0.25% Cu and 1.79 g/t Ag, and the second, below the 2026 Whittle pit volume, consisting of 154.5 metres averaging 0.38% Cu and 3.84 g/t Ag. This hole extended mineralization in this area to a vertical depth of 325 metres.Drill hole 30-1202, located 400 metres northeast of the Needle Mountain pit and outside the 2026 MRE model, is a vertical hole that cut two short mineralized intervals, the first within the 2026 Whittle pit volume consisting of 24.0 metres averaging 0.29% Cu and 2.76 g/t Ag, and the second below the 2026 Whittle pit volume, consisting of 30.5 metres averaging 0.57% Cu and 5.18 g/t Ag. This hole extended mineralization in this area to a vertical depth of 262 metres.Drill hole 30-1204, located 400 metres southeast of 30-1202 and outside the 2026 MRE model, is a southwesterly inclined hole that intersected one short interval of 28.5 metres averaging 0.24% Cu and 2.24 g/t Ag below the 2026 Whittle pit volume, in an anticipated “gap zone” of mineralization located between the southern extremity of the 2026 MRE model and the Needle Mountain pit.Drill hole 30-1205, located between Needle East and Needle Mountain and outside the 2026 MRE model, is a northeasterly inclined hole that cut 281.5 metres averaging 0.28% Cu and 2.73 g/t Ag below the 2026 Whittle pit volume, extending mineralization in this area to a vertical depth of 354 metres.Drill hole 30-1206, located 530 metres northeast of the Needle Mountain pit and 95 metres west of the western limit of the 2026 MRE model, is a vertical hole that cut three mineralized intervals within the 2026 Whittle pit volume, ranging from 25.6 to 77.0 metres in length and averaging 0.19% to 0.67% Cu and 1.46 to 4.61 g/t Ag. This hole extended mineralization in this area to a vertical depth of 285 metres.Drill hole 30-1207, located on the southern wall of the Needle Mountain pit, is a southwesterly inclined hole that cut two mineralized intervals outside the 2026 Whittle pit volume, including 133.5 metres averaging 0.21% Cu and 1.93 g/t Ag followed by 59.8 metres averaging 0.19% Cu and 1.13 g/t Ag. This hole extended mineralization in this area to a vertical depth of 278 metres.Drill hole 30-1208, located just north of the peak of the Needle Mountain East, 210 metres south of the limit of the 2026 MRE model, is a southwesterly inclined hole that cut four mineralized intervals. The first is within the 2026 Whittle pit volume and cut 81.0 metres averaging 0.40% Cu and 3.10 g/t Ag. The other three are located below the 2026 Whittle pit volume and included 126.5 metres averaging 0.44% Cu and 3.45 g/t Ag, followed by 68.7 metres averaging 0.33% Cu and 2.49 g/t Ag, and a fourth deeper interval of 48.7 metres averaging 0.45% Cu and 3.82 g/t Ag. This hole extended mineralization in this area to a vertical depth of 395 metres, suggesting mineralization continues further south towards the peak of Needle East.Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, stratiform, carbonate replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, which is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization (see May 6, 2024 MRE press release). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category (see November 14, 2024 MRE press release), and additional drilling in 2025 led to an additional significant increase in resources, mostly in the Measured and Indicated categories (see April 14, 2026 MRE press release).The current drill program is designed to convert the bulk of the remaining 2026 MRE Inferred resources to Measured and Indicated categories, as well as test the expansion of the overall resource laterally to the south and southwest towards Needle East and Needle Mountain respectively.Table 2: Drill hole locationsDDH No.Azimuth (°)Dip (°)Length (m)UTM EUTM NElevation30-11970-90414.0316405542519670930-11980-90393.3316257542514369930-119980-72462.0316122542548959830-1200248-76657.0315894542591256230-12010-90393.0316176542508468830-12020-90309.0315867542554260730-12030-90417.0316453542534166130-1204250-75354.0316007542546760930-120570-82372.0316087542504872030-12060-90522.0315962542560558430-1207250-80333.0315780542507171030-1208258-76435.03163885425048742 Explanatory note regarding copper-equivalent gradesCopper Equivalent (CuEq) grades are presented for illustrative purposes only to express the combined value of copper, molybdenum, and silver as a single copper grade. CuEq grades are calculated using long-term metal prices of US$4.50/lb copper, US$20.00/lb molybdenum, and US$45.00/oz silver, and incorporate assumptions for metallurgical recoveries, payable metal factors, smelting and refining charges, transportation costs, and royalties. Hence the CuEq calculation is essentially based on net smelter return (NSR) values. NSR for each metal is estimated by applying metallurgical recoveries, payable factors, metal prices, and applicable smelting, refining, transportation, and penalty charges to the in-situ metal grades. CuEq grades are derived using a linear regression relationship established between copper grade and copper NSR, and then calculated by substituting total NSR (Cu + Mo + Ag) for copper NSR in the regression equation. The simplified formula is expressed as CuEq (%) = Cu (%) + 3.40327 × Mo (%) + 0.00008 × Ag (g/t).The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).Quality Assurance / Quality ControlMineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades. True widths are estimated at 90 – 92% of the reported core length intervals.Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag. Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine site is located near Murdochville in Québec’s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper deposits, with current pit-constrained Measured and Indicated Mineral Resources of 1.83 Bt averaging 0.32% CuEq and Inferred Mineral Resources of 239 Mt averaging 0.46% CuEq (in compliance with NI 43-101).For more information, see Osisko Metals’ April 14, 2026 news release entitled “Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper”. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada‘s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals‘ June 25, 2024 news release entitled “Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq”. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.For further information on this news release, visit www.osiskometals.com or contact:Don Njegovan, PresidentEmail: info@osiskometals.comPhone: (416) 500-4129Cautionary Statement on Forward-Looking InformationThis news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as “expects”, or “does not expect”, “is expected”, “interpreted”, “management’s view”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “potential”, “feasibility”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.Photos accompanying this announcement are available at:Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.