Early drilling at Pine Point has found the “best ever” quality of metals at the facility.
The drilling, which was done as part of an infill and hydrogeological program, found deposits of zinc and lead which showed good exploration potential north of where the mine is currently located.
According to Robert Wares, Osisko Metals’ CEO, the latest results are some of the best that’s been seen at Pine Point.
“We are extremely pleased with today’s results as they exceeded current block model predictive grades and are among the best ever reported at Pine Point,” Wares said in a release.
“The combination of large widths and high grades at shallow depth confirms the unique nature of prismatic mineralization in this camp, and strengthens our resolve to discover new prismatic deposits within our large property package.”
Osikso submitted an environmental review application for the mine back in February, in the hopes of reopening the mine.
The mine was first started in 1964, producing lead and zinc ores between 1964 and 1988.
A town for the workers, Pine Point, was built by then owners Cominco, but was abandoned and demolished when the mine closed in 1988.
Pine Point would produce, on average, over 350 million pounds, or around 150,000 tonnes of zinc during its first 6 years of operation.
This would make Pine Point the eight largest zinc mine in the world, according to Wares.
The proposed mine would have a ten-year life. Osisko said previously they hoped the mine would be up and running within three years if the review process went well.