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Osisko Metals says its 50,000-metre drill program at Quebec’s Gaspé copper project is on track to finish by mid-October, with the assay database expected in January. Recent results extend mineralization beyond the current resource model, while the company is considering an interim estimate that would include Porphyry Mountain; the scale of any resource increase is not yet known.
Osisko Metals says its 50,000-metre drilling program at the Gaspé copper project in Quebec is on track to finish by mid-October, with results potentially supporting a larger resource estimate. The company is also considering an interim estimate this fall that would add tonnes from the Porphyry Mountain deposit, although it has not disclosed how much the resource could grow.
Drilling results released Sept. 28 extended mineralization beyond the existing resource model near Needle Mountain. Osisko reported that hole 30-1243 intersected 211.5 metres grading 0.59% copper, including 28.5 metres at 2.31% copper and 11.8 grams of silver per tonne. Hole 30-1236 returned 86.5 metres at 1.36% copper, including 18 metres at 4.53% copper and 23.3 grams of silver per tonne. A third hole, 30-1239, intersected 63.8 metres at 0.98% copper, including 16.1 metres at 2.54% copper and 8.98 grams of silver per tonne.
Osisko says the higher-grade intercepts may support a westward expansion of the proposed pit in the next resource update. CEO Robert Wares told The Northern Miner the company expects its drill crews to complete the program by mid-October and have the assay database ready in January. Management is weighing an interim estimate this fall that would include Porphyry Mountain; Wares said the deposit is being modelled as part of the overall project and would be classified as an inferred resource.
The company’s April resource estimate reported 1.83 billion measured and indicated tonnes grading 0.27% copper, 0.017% molybdenum and 1.57 grams of silver per tonne. Osisko calculated contained metal at 10.77 billion pounds of copper, 673.2 million pounds of molybdenum and 92.8 million ounces of silver. These are resource figures, not a statement of production or a guarantee that all contained metal can be economically extracted.
Deeper Ore Could Reshape Gaspé
The resource work matters because it could change the scale and mine layout being considered for a project that already has a large reported mineral inventory. Osisko argues that a deep open pit could make deposits previously viewed as inaccessible reachable from ramps built down from the pit floor. Wares told The Northern Miner the planned operation could extend about 3 kilometres long, 2 kilometres wide and 1 kilometre deep. Those dimensions are company projections, not an approved mine design.
Porphyry Mountain is about one kilometre below surface, according to the report. Including it in the project model could add a new source of mineralization to later studies, but the size, grade and economic contribution of any addition have not yet been established in a published estimate. The potential increase is therefore a development under evaluation, rather than a confirmed change to the April resource.
Gaspé’s possible scale also has implications for infrastructure and project planning. Osisko expects annual production of 500,000 to 600,000 tonnes of copper concentrate if the project is built and says the concentrate would be shipped through the port of Gaspé, about 75 kilometres away. Those figures describe the company’s expectations; the project still needs further technical work, permits and infrastructure decisions.
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From Closed Mine to New Studies
Gaspé is the site of the former Noranda mine, which closed in 1999. Osisko describes the project as one of North America’s largest undeveloped copper resources. Its April estimate more than doubled the site’s copper inventory, according to the source report, and the current drilling is intended to fill gaps in the resource model as well as test mineralization beyond it.
The drilling update comes alongside a corporate restructuring. Osisko announced plans to spin off its New Brunswick copper assets into a separate publicly traded company, expected to be listed by November, Wares told The Northern Miner. The proposed company, called Osisko Critical Minerals, would allow Osisko Metals to focus on Gaspé, while the new entity would seek capital for the New Brunswick assets. Executive chairman John Burzynski is expected to lead it until a management team is hired.
The Gaspé project also depends on logistics and utilities beyond the resource itself. Osisko is considering round-the-clock concentrate shipments by 40-tonne trucks, with two trucks per hour travelling to the port, Wares said. Glencore, the mine’s previous owner, has agreed to buy all concentrate produced at the site, according to the report. Osisko has also discussed power needs with Hydro-Québec and says the region’s transmission infrastructure would need an upgrade; one option under discussion is a 250-megawatt line.
“There’s still significant growth ahead in the next six months.”
— Robert Wares, Osisko Metals CEO, speaking to The Northern Miner
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Resource Size and Mine Plan Remain Open
No revised resource total has been released, and Osisko has not said how many tonnes or how much contained copper the current drilling could add. Assay results for the remaining work are still pending, and the possible interim estimate is under consideration rather than confirmed. The reported intercepts are individual drill results; they do not by themselves establish the size, continuity or economic viability of a deposit.
It is also not yet clear whether the proposed pit dimensions, deep deposits or anticipated concentrate volumes will be supported by later engineering and economic studies. The project’s permitting schedule, water management, power connection and transport plan remain subject to further work. The source report does not provide a current capital cost, an approved construction decision or a production start date.
Wares told The Northern Miner that Osisko has completed testing and plans to apply for full permits around June, with permitting expected to take about two years. These are management estimates, and the report does not specify the year for the June application. Any schedule could change as technical reviews and regulatory processes advance.
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Assays, Permits and Economic Study
The immediate milestone is completion of the 50,000-metre drill program, followed by preparation of the assay database, which Wares expects in January. Osisko may publish an interim resource estimate this fall, but the company has not confirmed that it will do so. A fuller resource update is expected to incorporate drilling that tests gaps around the existing model and the potential contribution of deeper mineralization.
After an updated resource is published, Wares expects the next major technical milestone to be a preliminary economic assessment by late 2027. Before then, Osisko plans to advance dewatering plans for the historic workings and proposed pit area and seek full permits, which Wares said could take about two years. The company also needs to develop its power and transport arrangements. Osisko’s timing for dewatering, potentially around 2029, is a projection rather than a confirmed start date.
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Key Questions
What is Osisko announcing about Gaspé?
Osisko says its 50,000-metre drill program is on track to finish by mid-October. Recent results extend mineralization beyond the current resource model, and the company is considering an interim estimate that could include Porphyry Mountain. No resource increase has yet been quantified.
How large is Gaspé’s current reported resource?
Osisko’s April estimate lists 1.83 billion measured and indicated tonnes grading 0.27% copper, 0.017% molybdenum and 1.57 grams of silver per tonne. The company reported contained metal of 10.77 billion pounds of copper, 673.2 million pounds of molybdenum and 92.8 million ounces of silver.
When will the next resource estimate be available?
Wares said the assay database is expected to be ready in January. Osisko is considering an interim estimate this fall, but has not confirmed that publication. The timing and scope of a later full update have not been specified in the source report.
What other steps are needed before Gaspé could be built?
The project needs further technical and economic studies, permitting, plans to dewater the historic mine workings and proposed pit area, and decisions on power and concentrate transport. Wares expects a preliminary economic assessment by late 2027 and said permitting could take about two years; these are company projections, not completed milestones.
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