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Osisko Metals to earn 50% stake in Osisko Mining's Urban-Barry project

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Osisko Metals to earn 50% stake in Osisko Mining's Urban-Barry project

Osisko Metals Inc. said March 29 that it secured an option to earn a 50% interest in Osisko Mining Inc.'s early stage Urban-Barry base metals project in Quebec.

The project comprises a package of 151 claims covering 8,511 hectares and includes 12 drill-ready targets that could host volcanogenic massive sulfide mineralization.

Osisko Metals is required to fund C$5 million of exploration over four years to earn the stake, with exploration including 2,000 meters of drilling expected to begin in the second quarter.

Osisko Mining, which is a significant shareholder of Osisko Metals, will retain a 100% interest in any precious metals discoveries on the claims covered in the deal and will serve as project operator during the earn-in.