Osisko Intersects 748 Metres Averaging 0.27% Cu at Gaspe
Massive copper scale confirmed at Gaspé as strategic titans Hudbay and Agnico Eagle bolster the registry.
The news release dated January 15, 2026, provides analytical results from ten diamond drill holes at the Gaspé Copper Project. Key highlights include Hole 30-1144, which intersected 748 metres averaging 0.27% Cu, and Hole 30-1142, which intersected 245 metres of 0.55% Cu. The program is designed to upgrade the existing Inferred resources from the November 2024 Mineral Resource Estimate (MRE) into the Measured and Indicated categories, while simultaneously testing for expansion at depth and to the south. The results continue to show broad, continuous zones of mineralization (porphyry and skarn style) with grades generally ranging between 0.15% and 0.67% Cu, plus minor molybdenum and silver.
- Resource De-risking: The drill results are in line with the 2024 MRE model, which is critical for the upcoming Q1 2026 resource update. Intersecting nearly 750 metres of continuous mineralization confirms the massive scale of the system.
- Grade Consistency: While the grades are low (averaging 0.20%–0.30% Cu), they are remarkably consistent. This supports the thesis of a large-scale, bulk-tonnage open-pit operation.
- Strategic Validation: This news follows a period of heavy strategic investment. The consistency of these results justifies the C$32.5 million investment made by Hudbay, Agnico Eagle, and Franco-Nevada in December 2025.
- Financing Context: The market appears to have anticipated these results, with the stock price rising significantly ahead of the release. The announcement of a C$15 million "Bought Deal" Flow-Through financing on January 12 at C$1.27 per share—a significant premium to the then-market price—indicates strong institutional appetite despite the low-grade nature of the deposit.
Osisko Metals is focused on redeveloping the past-producing Gaspé Copper mine in Murdochville, Quebec. - Flagship Project: Gaspé Copper. It is described as the largest undeveloped copper resource in Eastern North America. - Resource Base (Nov 2024): 824 Mt at 0.34% CuEq (Indicated) and 670 Mt at 0.38% CuEq (Inferred). - Geological Style: Porphyry copper-molybdenum and skarn mineralization. - Secondary Project: Pine Point (Zinc), located in NWT, managed via a JV with Appian Capital.