Drill Results
Osisko Intersects 80 Metres Averaging 1.93% Cu at Gaspe
Osisko Metals reports high-grade copper intersections from expansion drilling at its Gaspé project, confirming the trajectory for resource growth.
Executive Summary
- Osisko Metals released initial results from its 2026 drill program at the Gaspé Copper Project in Eastern Québec, reporting four new mineralized intercepts across two drill holes.
- The program targets in-pit and out-of-pit expansion areas, specifically focusing on converting inferred resources to measured/indicated categories and testing lateral expansion toward Needle Mountain and Needle East.
- Five drills are currently active on the property, with two additional rigs commencing work to support the company's resource expansion and pit-constrained resource growth strategy.
- Key intercepts include 80.0m @ 1.93% Cu (1.97% CuEq) within the 2026 MRE Whittle pit volume, including a high-grade sub-interval of 30.0m @ 3.49% Cu. Another hole reported 76.5m @ 0.35% Cu within the pit volume and a deeper 61.5m @ 0.27% Cu extending mineralization to 630m vertical depth.
- The results build upon the April 2026 Mineral Resource Estimate (MRE) which reported 1.83 billion tonnes of Measured & Indicated resources grading 0.32% CuEq.
- The Deep Porphyry Exploration Project (DPEX) is also underway to test depths of the Porphyry Mountain deposit, with a maiden Inferred MRE targeted for year-end 2026.
Material Impact
- The June 9, 2026 release represents the execution phase of the previously announced 2026 exploration program. The market was already aware of the planned 50,000-metre drill program following the April 2026 MRE update and the May 2026 NI 43-101 technical report filing.
- The reported intercepts are consistent with the company's stated objectives of upgrading inferred resources and testing lateral/depth extensions. The high-grade sub-interval (30m @ 3.49% Cu) is encouraging but remains within the expected geological model.
- This is an incremental, expected update that validates the ongoing exploration strategy rather than introducing a paradigm shift. It does not materially alter the April MRE framework or the company's near-term capital requirements.
- The news is routine in nature, serving as a progress report on a multi-year drilling campaign. It reinforces management's execution capability but lacks the surprise element required for a material re-rating.
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Company Overview
- Osisko Metals Inc. is a Canadian exploration and development company focused on critical minerals.
- Flagship asset: Gaspé Copper Project, located on the Gaspé Peninsula in Eastern Québec, adjacent to Murdochville.
- The project features a large, undeveloped copper-molybdenum-silver deposit with extensive infrastructure access, including paved highways, port facilities at Sainte-Anne-des-Monts, and Hydro-Québec electrical substation proximity.
- The company is transitioning from pure exploration to resource definition and economic evaluation, targeting a feasibility study in early 2028.
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May 29, 2026 · 07:19