Osisko Metals Initiates Deep Porphyry Exploration Project with Promising Copper-Molybdenum Results
Osisko Metals Incorporated has officially launched its Deep Porphyry Exploration Project, known as DPEX, targeting the historic Porphyry Mountain deposit in Quebec. The company has confirmed significant mineralization from re-assayed historical drill core, including an impressive intercept of 852.0 metres averaging 0.95% copper equivalent.
Initial Results Confirm High-Grade Mineralization
Today's announcement highlights re-assaying results from drill hole DDH 30-0943, originally drilled in 2011 by Xstrata. The core returned 852.0 metres averaging 0.70% copper, 2.92 grams per tonne silver, and 0.062% molybdenum, translating to a copper equivalent grade of 0.95%. This confirms historical data and underscores the deposit's potential.
The Porphyry Mountain deposit, discovered by Noranda Inc. in 1994, is located approximately 1,100 metres northeast of the centre of the Gaspé Copper Project's Copper Mountain pit. It features a subvertical, cylindrical shape about 500 metres in diameter, with mineralization extending over a minimum vertical length of 680 metres. Notably, many historical drill holes stopped in mineralization between 1,700 to 2,100 metres depth, indicating the deposit remains open at depth.
DPEX Program Details and 2026 Objectives
The DPEX program, planned for 2026, will be conducted separately from ongoing resource evaluation at the Gaspé Copper Project. It aims to provide preliminary insights into the deposit's potential through a comprehensive approach:
- A new deep drilling program to test the deposit's extent.
- Re-analysis of historic drill core to validate and update data.
- Remodelling of historic information to refine geological understanding.
Osisko Metals targets releasing a maiden NI 43-101 Inferred Mineral Resource Estimate for the Porphyry Mountain Cu-Mo deposit by the end of 2026. This initiative aligns with the company's broader strategy, following an anticipated Q1 2026 update on the GCP Copper Mountain deposit and expansion drilling on the Needle Mountain and Needle East zones.
Executive Commentary and Strategic Implications
Robert Wares, Chief Executive Officer of Osisko Metals, commented on the developments. "These very promising results launch our 2026 DPEX resource evaluation program at Porphyry Mountain," he stated. "The DPEX program will include deep drilling and thorough re-assaying of available historical drill core. This should establish its true depth and reveal the full potential of the deposit."
Wares further noted that the updated GCP Copper Mountain open pit is expected to reach significant depths near the end of its mine life, potentially allowing future ramp access to the deeper, higher-grade Porphyry Mountain deposit. This strategic positioning could enhance long-term mining efficiency and resource utilization.
Historical Context and Comparative Analysis
The Porphyry Mountain deposit is hosted by a separate porphyry intrusion relative to Copper Mountain, featuring a porphyry-style stockwork of copper-molybdenum veins. Historical drilling results, as summarized in the provided table, show consistent mineralization across multiple holes from the 1990s and 2011, with copper equivalent grades ranging from 0.58% to 1.17%.
Compared to the GCP Copper Mountain deposit, Porphyry Mountain exhibits higher average grades for both copper and molybdenum. Additionally, Osisko Metals is currently analyzing all analytical pulps from the re-assaying program that graded greater than 1% copper for gold content, which could further elevate the deposit's value.
This re-evaluation effort represents a significant step in unlocking the untapped potential of a decades-old discovery, leveraging modern techniques to define a robust mineral resource in a key Canadian mining region.
