Five in Five: Past meets Future at Pine Point

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January 20, 2021

As ITI prepares to participate in AME Remote Roundup 2021, five projects in the Northwest Territories are entering new and exciting phases.

We’re marking 5-days of Round-Up 2021 by talking to five companies currently exploring and developing NWT projects with huge potential.

Round-Up 2021 – Day 3

At Osisko Metals’ Pine Point, the focus remains squarely on zinc-lead.

Pine Point – originally operated by Cominco from 1965 to 1999 – is unusual as it’s almost entirely a planned open-pit operation, rather than underground as many zinc mines are. It’s also ready to re-enter the market at a time when a supply crunch is forecast.

“There’s very little in the pipeline,” says Robert Wares, Osisko Metals’ chairman and CEO. “There are essentially no world-class deposits sitting on the sideline.”

Enter Pine Point, which has an indicated resource of about 13 million tons of 6.3% combined lead-zinc and a further 37.5 million tons inferred.

“We’re looking at a potentially very lucrative operation from an open-pit point of view,” says Wares, who is convinced demand for Pine Point’s zinc concentrate – one of the cleanest available – will be strong.

“For those of you who believe in the current commodities rally and particularly want exposure to zinc, you should take a careful look at the Pine Point project,” he says.

“This is a future mine in my mind. No doubt about it.”

Unlocking Our Potential: Osisko from GNWT ITI on Vimeo.

Renewed exploration activity is needed to restore levels of investment, partnership, employment and growth in the NWT’s economy.

Under its “Unlocking Our Potential” banner, the GNWTs Department of Industry Tourism and Investment is promoting mineral exploration and development I the NWT in support of the GNWT’s Mandate to: Increase resource exploration and development.