The Key Anacon project is located approximately 20 km south of the town of Bathurst, New Brunswick and 16 km southeast of the former Brunswick No.12 mine. It is accessible by paved roads. The property contains two known Bathurst-type volcanogenic massive sulphide deposits containing zinc, lead, copper and silver. The Key Anacon Main Zone and Titan Zone deposits are situated at the same stratigraphic horizon that hosted the Brunswick No. 12 & No. 6 mines. The property covers approximately 12 kilometres of favorable Nepisiguit Falls stratigraphy that also extends onto the surrounding claims held 100% by Osisko Metals.
No mineral resource estimates have been calculated under NI43-101 guidelines. Except for exploration programs conducted in 1992-1993 and 2000, almost all of the drilling was completed in the 1950’s and 60’s, prior to currently required standards for quality assurance and quality control. The earlier drilling led to the establishment of a 460 metre shaft, a vent raise, eight levels and three sub-levels at the Main Zone. The Government of New Brunswick, Department of Energy and Resource Development, Energy and Mines Division reports the Main Zone deposit as having a historical resource (Non-NI 43-101 compliant) of 1.87 million tonnes grading 6.93% Zn, 2.63% Pb, 0.16% Cu, and 84 g/t Ag in multiple folded lenses. The deposit is open at depth and along strike.
Exploration potential at Key Anacon and the Company’s adjacent properties is considered to be excellent on the basis of the presence of the Brunswick Horizon stratigraphy and the expansive zones of mineralization and alteration. Both the Titan Zone and Main Zone are open at depth and along strike. Exploration and development programs in the 1950’s and 1960’s were terminated due to the pullback of the zinc commodity price at that time. Since then, only two minor exploration programs were conducted by major mining companies.
These historical estimates were obtained from the New Brunswick Government Mineral Deposits database. Readers are cautioned that Osisko Metals has not completed the work required to independently analyze and verify the results of previous operators nor has a qualified person done sufficient work to classify the historical estimates as current mineral resources or mineral reserves. Osisko Metals is not treating the historical estimate as current mineral resources, and it believes these historical estimates provide an indication of the potential of the property and are reported because they are deemed relevant to the description of the properties.