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Osisko Metals takes 'key step' towards eventually restarting Pine Point mining

These core samples from drilling at Pine Point were obtained in 2017 by Darnley Bay Resources Ltd., which later became Pine Point Mining Ltd. Drilling is continuing this year at the site. Photo courtesy of Darnley Bay Resources Ltd.

An environmental assessment initiation package for renewed zinc and lead mining at Pine Point has been submitted to the Mackenzie Valley Environmental Impact Review Board.

Osisko Metals Incorporated, the 100 per cent owner of Pine Point Mining Ltd., made the announcement in a Feb. 4 news release.

The Montreal-based Osisko Metals described the move as a "key step" that will commence the environmental assessment (EA) process for the Pine Point project, where it is hoped that mining can eventually resume.

"The EA should be completed in approximately 18 months," the news release stated. "Following the successful conclusion of the EA, permit applications for the proposed mine will be submitted to the Mackenzie Valley Land and Water Board and it is expected to take approximately 12 months to process by the Mackenzie Valley Land and Water Board."

The news release from Osisko Metals added that, at the completion of the permitting process, the project will be green lighted for the construction and operation of the proposed mine.

The environmental assessment initiation package includes a detailed project description and information on the development proposal.

A zinc/lead mine previously operated in Pine Point from 1964 to 1988.

In January, Osisko Metals announced its 2021 exploration and development plans for Pine Point, including a 3,000-metre winter drilling campaign.

In a Jan. 11 news release, Robert Wares, chairman and CEO of Osisko Metals, said that 2020 was an important year for the Pine Point project with the release of a Preliminary Economic Assessment.

"Pine Point combines excellent open pit metal grades with available infrastructure and projected low operating costs, pointing to the potential for a Top 10 global zinc producer," Wares stated. "Building on this success, we will focus on delivering increased value to Pine Point through our planned 2021 drill campaign and hydrogeological studies."