Issue link: http://resourceworld.uberflip.com/i/1207716
F E B R U A R Y / M A R C H 2 0 2 0 www.resourceworld.com 45 MINING larities with known prismatic deposits at Pine Point and will be tested over the first half of 2020. Good metallurgy and a clean concen- trate are other key factors to note when assessing the future potential value of lead-zinc deposits. These appear to be check marks in the positive column for the Pine Point Project. Historically, Pine Point produced among the cleanest concentrates globally over its 24-year mine life. More recent test work confirmed that at this time, Osisko Metals does not anticipate any smelter or refinery penalties for Pine Point's concentrates. Results from the optimized cleaner test work are as follows: • Zinc recovery ranged between 93.1 to 94.5% • Lead recovery ranged from 87.4 to 91.4% Zinc concentrate grade ranged between 63.6 to 64.1% Zn • Lead concentrate grade ranged between 67.9 to 72.1% Pb • Zinc concentrate is significantly below penalty thresholds for all deleterious impurities except MgO, which is at 0.36% (the typical penalty threshold form magne- sium is 0.35%). Hussey is very bullish on the outlook of the zinc market and stated that global zinc and lead projects with infrastruc- ture and more than 50 million tonnes in near-surface resources are extremely rare. It is worthwhile to note that over 90% of zinc production is currently mined underground and of the top 10 zinc mines globally, six are open pit operations. "We now believe that the project could develop into a mine large enough to enter the top 10 global zinc mines on an annual zinc-in-concentrate basis," commented Hussey. We would also emphasize that exploration at Pine Point has been mini- mal in the last 30 years, we believe there is more to come for the project." The company also recently completed a $7 million financing which was raised by selling 14 million units (consisting of one common share and a ¼ warrant) to Osisko Gold Royalties who now own about 19.9% of the outstanding common shares of Osisko Metals. Osisko Metals currently has a mar- ket capitalization of about $78 million with 167 million shares outstanding. n The Pine Point zinc (lead) mine 65 km east of Hay River, Northwest Territories was a successful mining operation for several decades. Photo courtesy Osisko Metals Inc. IBK Capital Corp. The Exchange Tower, 130 King St. West, Suite 640 Toronto, Ontario, Canada M5X 1E4, Tel: 416 360-4505 www.ibkcapital.com PERSEVERANCE PAYS Over the past 31 years, IBK Capital has completed global investment banking transactions with a combined value of $5.6 billion. IBK Capital has a proven track record of creating long-term value through numerous market cycles. • New Age Metals Inc. • Palladium One Mining Inc. • Manitou Gold Inc. Recent Palladium, Gold and Nickel transactions: DISCLAIMER: For complete transaction details please contact IBK Capital Corp. IBK Capital Corp. and its principals may own shares and warrants to purchase shares of those companies. • Newrange Gold Corp. • Eldorado Gold Corporation • Canada Nickel Company