Osisko Intersects 256 Metres Averaging 0.85% Cu at Gaspe
Osisko’s 256.5m at 0.85% Cu step-out west of Gaspé strengthens the grade-growth case pending confirmation from one additional drill hole.
Osisko Metals Incorporated (OM) reported 28 mineralized intercepts from 12 drill holes, DDH 30-1224 through 30-1235, at its Gaspé Copper Project. The headline intercept came from DDH 30-1228, which returned 256.5m averaging 0.85% Cu, 5.13 g/t Ag, and 0.86% CuEq from 33.0m to 289.5m, including a higher-grade interval of 28.5m averaging 4.74% Cu and 27.4 g/t Ag.
DDH 30-1228 is classified as an out-of-pit expansion located on the western margin of Needle Mountain. The CEO reported the hole as being 800 metres west of the 2026 MRE model.
Other notable intercepts included: * DDH 30-1235: 257.5m @ 0.39% Cu, 3.60 g/t Ag, infill. * DDH 30-1233: 177.5m @ 0.40% Cu, 2.88 g/t Ag, infill; plus 76.5m @ 0.42% Cu and 52.5m @ 0.35% Cu. * DDH 30-1226: 101.0m @ 0.44% Cu, 2.35 g/t Ag, in-pit expansion. * DDH 30-1234: 67.7m @ 0.63% Cu, 3.22 g/t Ag, out-of-pit expansion. * DDH 30-1225: 49.7m @ 0.74% Cu, 3.86 g/t Ag, out-of-pit expansion.
The program is designed to upgrade Inferred resources to Measured/Indicated and test lateral expansion around Needle Mountain and to the south/southwest.
Osisko Metals Incorporated (OM) released results that include a high-grade sub-interval and out-of-pit expansion. A 5–10% positive move in the share price would not be surprising on this release, while a sustained 15%+ move would likely require follow-up holes confirming a new high-grade zone.
Osisko Metals Incorporated (OM) is a Canadian exploration and development company focused on copper and zinc. Its flagship asset is the Gaspé Copper Project, a past-producing copper-molybdenum-silver mine located near Murdochville, Québec. Osisko acquired 100% of the project from Glencore Canada in July 2023.
The company’s current Mineral Resource Estimate (MRE) for Gaspé, effective January 17, 2026, includes the following categories:
- Measured: 136.5Mt @ 0.42% CuEq.
- Indicated: 1,697.7Mt @ 0.32% CuEq.
- Total M&I: 1,834.2Mt @ 0.32% CuEq, containing 4.88Mt Cu.
- Inferred: 238.8Mt @ 0.46% CuEq.
No mineral reserves are currently reported for the project. The Gaspé Copper Project targets a 160,000–200,000 tpd open-pit operation, with potential for more than 140,000 tonnes of copper metal per year.
Osisko also holds the Pine Point zinc project through the Pine Point Mining Limited joint venture with Appian Capital. Strategic shareholders include Agnico Eagle, Hudbay, Franco-Nevada, CDPQ, and Glencore. In July 2026, Glencore converted its US$25M senior secured convertible debenture into common shares and warrants, increasing its ownership to approximately 14.4% on a non-diluted basis.
Osisko reported cash of C$102.7M at June 30, 2026.