Chris Marcus, founder of Arcadia Economics, shares his thoughts on silver and gold.
While it’s impossible to know exactly how precious metals prices will move in the short term, he’s confident they will maintain an upward trajectory in the long term.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
With strategic, US-based assets, Trigg Minerals is well-positioned to become a cornerstone supplier of antimony and tungsten into the United States and allied markets. With a sharpened focus on critical minerals in Tier-1 jurisdictions, Trigg is executing a strategy that aligns with urgent national security and energy transition needs.
Trigg Minerals (ASX:TMG,OTCQB:TMGLF) is an emerging leader in the global critical minerals space, focused exclusively on the development of antimony and tungsten assets in the US – both metals designated as critical minerals by the United States, Canada, Australia and the European Union for its role in national defense, energy transition technologies, and advanced industrial applications.
Global supply of both antimony and tungsten is highly concentrated, with more than 80 percent controlled by China and Russia. Export restrictions, sanctions and the depletion of strategic stockpiles have created acute shortages, driving demand for alternative, conflict-free sources. This geopolitical backdrop creates a once-in-a-generation opportunity for new suppliers to anchor Western supply chains.
Trigg’s strategy is firmly focused on developing critical minerals projects in Tier-1 US jurisdictions, where stable regulatory frameworks, established infrastructure and strong government support provide a competitive advantage.
The company’s flagship Antimony Canyon project in Utah is one of the largest undeveloped antimony systems in the country, now secured through patented mining claims that streamline the pathway to production. Complementing this is the Tennessee Mountain tungsten project in Nevada, a historic tungsten district with confirmed high-grade mineralisation, and the newly acquired Central Idaho antimony project, which offers district-scale potential in a historically productive region.
By advancing this portfolio, Trigg aims to establish itself as a vertically integrated supplier, from mine development through to downstream smelting and refined metal production. With strong shareholder support, active engagement with US government and defence stakeholders, and membership in international industry associations, Trigg Minerals is positioned to play a leading role in rebuilding secure Western supply of antimony and tungsten.
Antimony Canyon, located in Utah, is Trigg’s flagship project and one of the largest undeveloped antimony systems in the United States. Historically mined during the 20th century but never subject to modern exploration, the district hosts multiple high-grade stibnite deposits. In 2025, Trigg consolidated control through the acquisition of 20 patented claims, giving the company full ownership of both surface and mineral rights. This control materially de-risks permitting by allowing the project to proceed under Utah’s streamlined Mined Land Reclamation Act, avoiding lengthy federal processes.
An exploration target of 6.1 to 6.9 million tonnes (Mt) at 1.4 to 2.3 per cent antimony, containing between 86,000 and 158,000 tonnes of antimony metal, has been established on these claims. Sampling programs have confirmed exceptional grades, including channel results up to 33.2 percent antimony. With no active US antimony production, Antimony Canyon offers a unique opportunity to establish domestic supply, with Trigg advancing studies for a pilot-scale mining operation and downstream smelting in partnership with Metso, leveraging Ausmelt technology for the production of refined antimony metal.
In August 2025, Trigg expanded into tungsten through the acquisition of the Tennessee Mountain project in Nevada, another Tier-1 US jurisdiction. This historic mining district hosts the Garnet Mine and widespread skarn-hosted tungsten mineralisation. Historical trenching and drilling reported thick intersections of mineralised zones, including 24.9 metres at 0.65 percent tungsten trioxide and 10.67 metres at 0.98 percent tungsten trioxide. A non-JORC historical estimate of 0.71 Mt, grading 0.3 to 0.5 percent tungsten trioxide, underscores the scale and potential of the system. With tungsten also recognised as a critical mineral for defence and clean energy technologies, Tennessee Mountain provides diversification and growth within Trigg’s US portfolio.
In September 2025, Trigg acquired the Central Idaho antimony project, located within the historically productive Swanholm Mining District. Early fieldwork has already confirmed very high-grade mineralisation, including assays up to 17.6 percent antimony from surface samples, with associated gold values. The project covers a district-scale landholding in an area geologically analogous to Perpetua Resources’ Stibnite gold project, which has received substantial US federal support. With minimal historic disturbance and no legacy tailings, the project offers a clean environmental baseline and a potentially straightforward permitting pathway.
While Trigg’s near-term focus is firmly in the US, the company maintains optionality through its Australian portfolio. The Wild Cattle Creek deposit in New South Wales contains a JORC 2012 resource of 1.52 Mt at 1.97 percent antimony, representing ~30,000 tonnes of contained metal and ranking as one of the world’s highest-grade undeveloped antimony deposits. Additional Australian projects, including Taylors Arm, Spartan and Nundle, as well as the Drummond gold project in Queensland, provide longer-term exploration upside.
Tim Morrison is a highly experienced executive in the Australian resource and capital markets sector. With a background in law and investment banking, Morrison has held senior roles in both private and public resource companies, including those focused on critical minerals, base metals, and energy. His leadership at Trigg is defined by a clear strategic focus: unlock value from the Wild Cattle Creek deposit and position the company as a cornerstone in the global antimony supply chain. Morrison brings extensive experience in stakeholder engagement, project financing, and government relations, having previously led funding rounds, IPOs, and major project negotiations across multiple jurisdictions. His vision for Trigg is underpinned by a disciplined growth strategy and sovereign supply positioning.
Jonathan King is a seasoned geologist with over 20 years of experience in mineral exploration and resource development. He has worked across a broad range of commodities including antimony, gold, copper, and rare earths, and has been instrumental in leading exploration teams across Australia, Southeast Asia and Africa. At Trigg, King is responsible for designing and executing the company’s exploration programs, including the upcoming high-impact drill campaign at Wild Cattle Creek. His technical leadership ensures that resource expansion is driven by rigorous geoscientific methodology, with a focus on unlocking district-scale potential across the broader Achilles project area.
Andre Booyzen is an experienced mine operator and leader and has 25+ years of experience in operational, senior and executive roles, and is a specialist in antimony mining. He brings extensive experience in mine development, operational strategy, and off-take agreements. Booyzen previously served vice-president of Mandalay Resources (TSX:MND,OTCQB:MNDJF), where he had full strategic and operational control including product sales, off takes and funding negotiations at the Costerfield gold-antimony mine in Victoria, currently Australia’s only producer of antimony concentrate. Booyzen also served on the board of the Minerals Council of Australia (Victoria) for more than five years and was chairman for three of those.
Chris Gregory is a highly accomplished global mining executive and geologist with over 30 years of experience. He has an extensive leadership track record in discovery, development, mine operation and strategic growth across a wide range of commodities and jurisdictions. Gregory’s career included 22 years with Rio Tinto, where he led the discovery and evaluation of Sepon gold/copper deposit in Laos. He was vice-president, exploration and geology at Mandalay Resources, where he was instrumental in the success of the Costerfield Antimony/Gold mine in Victoria for more than 10 years up to 2022.
Nicholas Katris has over 15 years of experience in corporate advisory and public company management, having begun his career as a chartered accountant. He has been actively involved in the financial management of public companies within the mineral and resources sector, holding roles on both the board and executive management teams. His expertise spans the advancement and development of mineral resource assets, as well as business development. Throughout his career, Katris has worked across Australia, Africa, Brazil and Canada, gaining extensive experience in financial reporting, capital raising, and treasury management for resource companies. He currently serves as company secretary for Leeuwin Metals (ASX:LM1) and Perpetual Resources (ASX:PEC).
James Graf has over 35 years of international capital markets, M&A and corporate management experience, including roles as CEO, CFO and/or board director of eight US-listed special purpose acquisition companies, and as a managing director at Deutsche Bank in Hong Kong and Merrill Lynch in Singapore. Graf currently serves as CEO and board director of Graf Global (NYSE:GRAF) and as interim CFO of NKGen Biotech (OTC:NKGN). He was previously a board director of Velodyne Lidar (Nasdaq:VLDR) and also founded an enterprise software company with operations in the US, Malaysia and Ukraine.
(TheNewswire)
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
Vancouver, British Columbia TheNewswire – November 13th, 2025 Prismo Metals Inc. (‘ Prismo ‘ or the ‘ Company ‘) (CSE: PRIZ,OTC:PMOMF) (OTCQB: PMOMF) is pleased to announce that further to its news release dated October 20, 2025 (the ‘ Initial News Release ‘), the Company has upsized and closed its previously announced non-brokered private placement of units of the Company (‘ Units ‘) at an issue price of $0.10 per Unit (the ‘Private Placement’ ). Due to strong investor demand, the Private Placement was increased from 12,500,000 Units to the issuance of 17,450,000 Units for gross proceeds of $1,745,000.
The Company also announced it has amended the terms of the warrants forming part of the Units (the ‘ Amendmen t’). As announced in the Initial News Release, each Unit was to consist of one common share of the Company (a ‘ Share ‘) and one-half of one common share purchase warrant of the Company (each whole warrant, a ‘ Warrant ‘). Each Warrant was to entitle the holder to purchase one Share for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.175, subject to an acceleration expiry clause (the ‘ Acceleration Clause ‘), whereby if the Shares closed at or above $0.25 for ten (10) consecutive trading days on the Canadian Securities Exchange, the Company would have the right to accelerate the expiry date of the Warrants by issuing a news release announcing the accelerated Warrant term, pursuant to which the Warrants would expire on the 30 th calendar day after the date of such news release. As a result of the Amendment, each issued Unit now consists of one Share and one full Warrant, with each Warrant entitling the holder to purchase one Share for a period of thirty-six (36) months from the date of issuance at an exercise price of $0.175, without the Acceleration Clause.
The Company intends to use the net proceeds from the Private Placement primarily for drilling at its Silver King project and for general corporate purposes. There may be circumstances, however, where, for sound business reasons, a reallocation of funds may be necessary. The Company expects to accept additional subscriptions of Units in the coming days for an approximate amount of $125,000.
In connection with the closing of the Private Placement, the Company issued an aggregate of 919,960 finder’s warrants (the ‘Finder’s Warrants’ ) and paid finder’s commissions of $ 92,398 to certain qualified finders. Each Finder’s Warrant is exercisable for a period of twenty-four (24) months from the date of issuance to purchase one Share at a price of $0.10. In addition, the Company paid a cash fee of $15,000 to a financial advisor.
All securities issued or issuable in connection with the Private Placement are subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada.
Multilateral Instrument 61-101
The Company has issued an aggregate of 303,275 Units pursuant to the Private Placement to certain ‘related parties’ of the Company (the ‘ Interested Parties ‘), in each case constituting, to that extent, a ‘related party transaction’ as defined under Multilateral Instrument 61-101 – Protection of Minority Securityholders in Special Transactions (‘ MI 61-101 ‘). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the participation of the Interested Parties in the Private Placement in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the Private Placement nor the securities issued in connection therewith, in so far as the Private Placement involves the Interested Parties, exceeds 25% of the Company’s market capitalization. The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the Private Placement and the participation therein by the Interested Parties therein were not settled until recently and the Company wishes to close on an expedited basis for sound business reasons.
About Prismo Metals Inc.
Prismo (CSE: PRIZ,OTC:PMOMF) is mining exploration company focused on three silver projects (Palos Verdes, Silver King and Ripsey) and a copper project in Arizona (Hot Breccia).
Please follow @PrismoMetals on , , , Instagram , and
Prismo Metals Inc.
1100 – 1111 Melville St., Vancouver, British Columbia V6E 3V6
Contact:
Alain Lambert, Chief Executive Officer alain.lambert@prismometals.com
Gordon Aldcorn, President gordon.aldcorn@prismometals.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as ‘intends’ or ‘anticipates’, or variations of such words and phrases or statements that certain actions, events or results ‘may’, ‘could’, ‘should’, ‘would’ or ‘occur’. This information and these statements, referred to herein as ‘forward‐looking statements’, are not historical facts, are made as of the date of this news release and include without limitation, statements regarding discussions of future plans, estimates and forecasts and statements as to management’s expectations and intentions with respect to, among other things, the intended use of any proceeds raised under the Private Placement.
These forward‐looking statements involve numerous risks and uncertainties and actual results might differ materially from results suggested in any forward-looking statements. These risks and uncertainties include, among other things, the potential inability of the Company to utilize the anticipated proceeds of the Private Placement as anticipated; and those risks set out in the Company’s public disclosure record on SEDAR+ ( www.sedarplus.com ) under the Company’s issuer profile .
Although management of the Company has attem pted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial out-look that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.
Copyright (c) 2025 TheNewswire – All rights reserved.
News Provided by TheNewsWire via QuoteMedia
The Supreme Court revealed on Monday it will consider a lawsuit, originally brought by the Republican National Committee, over whether counting ballots that arrive after Election Day is lawful.
The case will examine a state law in solid red Mississippi that allows ballots postmarked by Election Day to be counted if they are received up to five days after the election.
The RNC, which has fought to stop late-arriving ballots over allegations that they undermine trust in the vote counting process, argues the state law conflicts with federal law and is hoping the Supreme Court will ban them nationwide.
David Becker, executive director of the Center for Election Innovation & Research, emphasized that the court would not be weighing in on the legality of mail-in ballots, which are accepted in some form in every state, or whether ballots could be cast after Election Day.
‘What this case is about is whether a ballot that was cast on or before Election Day, sealed in an envelope, placed in the U.S. Mail and received by a state some days later can be counted if a state law says that that’s okay,’ Becker told Fox News Digital.
Mississippi’s rule went into effect in 2020, when many states implemented new emergency election policies over COVID-19. Well over a dozen, both red and blue, accept late mail-in ballots if they are postmarked by Election Day.
The RNC sued over the law and secured a win at the conservative U.S. Court of Appeals for the 5th Circuit, leading Mississippi to bring the matter to the Supreme Court. The state argues ‘election’ means voters’ final choice, which occurs when ballots are cast by Election Day. Receipt of ballots that are marked and submitted effectuates the voters’ choice but are ‘not part of the election itself,’ Mississippi told the Supreme Court in a filing. As such, the state argues, federal law does not prohibit short, post-Election Day windows to receive ballots cast on time.
Becker warned of repercussions that could come of the Supreme Court upholding the 5th Circuit’s ruling, saying it could invite a host of new litigation because close races could come down to ballots cast by Election Day that arrive a day or two after the election because of U.S. Postal Service delays.
‘We as a society do not want a bunch of ballots coming in the day or two after, delivered late, not because of the voter but because of the Postal Service, and having those ballots being the margin of victory in a close race,’ Becker said.
In a statement, RNC chairman Joe Gruters echoed broader sentiments of election security hawks who have taken issue with late-arriving ballots.
‘Allowing states to count large numbers of mail-in ballots that are received after Election Day undermines trust and confidence in our elections,’ Gruters said.
‘Elections must end on Election Day, which is why the RNC led the way in challenging this harmful state law. The RNC has been hard at work litigating this case for nearly two years, and we hope the Supreme Court will affirm the Fifth Circuit’s landmark decision that mail-in ballots received after Election Day cannot be counted.’
White House press secretary Karoline Leavitt said Wednesday that President Donald Trump ‘remains in exceptional physical health’ after concerns have swirled in recent months, including when the president received an MRI scan in October.
‘As stated in the memo provided on October 10th, President Trump received advanced imaging at Walter Reed Medical Center as part of his routine physical examination,’ Leavitt said during Wednesday’s White House press briefing. ‘The full results were reviewed by attending radiologists and consultants, and all agreed that President Trump remains in exceptional physical health.’
The response followed a member of the media asking for additional details as to why Trump received an MRI during a checkup at Walter Reed National Military Center in Maryland in October.
‘I got an MRI, it was perfect,’ Trump told reporters on Air Force One in October.
‘I gave you the full results,’ he added. ‘We had an MRI, and the machine, you know, the whole thing, and it was perfect.’
The checkup in October has been described as routine by the administration, with Trump’s physician reporting that Trump is in ‘exceptional health.’
Media outlets and others have fanned the flames of concerns around Trump’s health earlier in 2025 when he was spotted with swollen legs in July while attending the FIFA Club World Cup final in New Jersey, as well as when other photos that same month showed him with bruises on his hands.
Leavitt said in July, while reading a health memo, that Trump’s swollen legs were part of a ‘benign and common condition’ for individuals older than age 70, while the bruising on his hands was attributable to ‘frequent handshaking and the use of aspirin.’
Navy Capt. Sean P. Barbabella, the physician to the president, wrote in a memorandum to Leavitt following the October checkup that the visit was part of an ongoing health maintenance plan that included ‘advanced imaging, laboratory testing and preventative health assessments conducted by multidisciplinary team of specialists.’
Barbabella said in his October summary that Trump, ‘remains in exceptional health, exhibiting strong cardiovascular, pulmonary, neurological, and physical performance.’
The checkup was Trump’s second in 2025, following an April visit that Barbabella said found Trump ‘remains in excellent health.’
Leavitt added Wednesday that Trump is slated to hold a dinner later that evening, which she said might include press attendance where the media could see Trump’s physical state themselves.
‘I know all of you will see with your own eyes later this evening when he opens up his dinner to the press, and perhaps you will see him when he signs the bill to reopen the federal government,’ she said. ‘So stay tuned on plans for that.’
Fox News Digital’s Brie Stimson contributed to this report.
Vice President JD Vance praised President Donald Trump’s ‘bulldozer’ approach to public health, calling it a necessary force that ‘just had to happen,’ during remarks at Wednesday’s Make America Healthy Again (MAHA) summit.
The summit, held at the Waldorf Astoria in Washington, D.C., was centered on Health and Human Services (HHS) Secretary Robert F. Kennedy Jr.’s MAHA movement — aimed at improving nutrition, eliminating toxins, preserving natural habitats and fighting the chronic disease epidemic in the U.S.
‘That is a good summary of Donald J. Trump is that he takes a bulldozer to Overton windows every single day,’ Vance told the HHS secretary during the event. ‘It just had to happen… One of the criticisms that Bobby will always get, and I always think it’s such b——-, excuse my language… [is that] sometimes there’s this attack where people say that conclusion is not supported by the science, or this or that conclusion is a conspiracy theory.’
‘Science, as practiced in its best form, is that if you disagree with it, then you ought to criticize it, and you ought to argue against it. You can’t shut down the debate,’ Vance continued. ‘If you look at all the big public health debates that we’ve had in this country over the last 20 or 30 years… they tried to silence the people who were saying things that were outside the Overton window. As we found out the hard way over the last few years, it was very often that people who were outside the Overton window were actually right, and all the experts were wrong.’
Vance went on to say the country could not advance unless Americans become comfortable with people who are ‘willing to challenge orthodoxy.’
He also vowed to keep Appalachia in the forefront of the conversation, noting residents have higher premature mortality rates due to a long history of being failed by the public health system.
‘You know what really p—– people off — when they realize that their loved ones are dying much sooner than everybody else,’ said Vance, whose autobiography, ‘Hillbilly Elegy,’ details his own upbringing in Appalachia. ‘That is a big part of the story of what’s going on in Appalachia, and why I think so many people in Appalachia feel left behind.’
He described himself as ‘the golden boy’ of Appalachia, admitting he feels guilt about the many people who grew up in families like his and have not had an easy life or the same amount of economic opportunity.
‘That gives me a sense of purpose because I want those people to have the same opportunities that I’ve had,’ Vance said. ‘But it also gives me a great sense of anger, because we never should have gotten to the point that we are today. The reason that we have, is because of failed leadership over generations.’
When discussing the people of Appalachia, he said they are people who, ‘though they don’t have much, would take the shirt off their back and give it to a complete stranger, because that’s what you do.’
‘If you go back to America’s biggest wars — World War I, World War II, Vietnam — which were the counties that filled their draft quotas with volunteers instead of with draftees?’ Vance posed. ‘It’s very often the parts in deep Appalachia where you’ve got grinding poverty, but you’ve also got this incredible love of country.’
‘So if any place in this country deserves not to be left behind, it’s Appalachia… These are people who deserve to live better, healthier lives, but they really have been left behind by this country’s leadership,’ Vance added.
The record-breaking U.S. government shutdown appears to be on a path to finally ending after 43 days.
Federal funding legislation aimed at opening the government survived a key test vote in the House later Wednesday, teeing it up for final passage in a matter of hours.
That means the bill could hit President Donald Trump’s desk as soon as Wednesday night, likely ending what has been the longest shutdown in U.S. history.
The White House announced that Trump would sign the bill in a statement of administration policy obtained by Fox News Digital.
‘The Administration urges every Member of Congress to support this responsible, good faith product to finally put an end to the longest shutdown in history,’ the statement said.
The bill advanced through a procedural hurdle known as a rule vote, which is where lawmakers decide whether to allow legislation to get debated before a final vote on passage.
Rule votes generally fall along partisan lines and are not an indication of whether a bill will be bipartisan.
The vast majority of House Democrats still oppose the bill, but it’s possible that at least several moderates will defy their leaders to support it.
House Minority Leader Hakeem Jeffries, D-N.Y., reiterated to reporters hours before the vote that Democrats were frustrated the bill did not do anything about COVID-19 pandemic-era healthcare subsidies under Obamacare, also known as the Affordable Care Act (ACA). Those enhanced tax credits expire this year.
‘House Democrats are here on the Capitol steps to reiterate our strong opposition to this spending bill because it fails to address the Republican healthcare crisis, and it fails to extend the Affordable Care Act tax credit,’ Jeffries said.
House Speaker Mike Johnson, R-La., sounded optimistic in comments to reporters Wednesday morning ahead of the vote.
‘I wanted to come out and say that we believe the long national nightmare will be over tonight,’ Johnson said. ‘It was completely and utterly foolish and pointless in the end.’
Meanwhile, the shutdown’s effects on the country have grown more severe by the day.
Many of the thousands of air traffic controllers and Transportation Security Administration (TSA) agents who had to work without pay were forced to take second jobs, causing nationwide flight delays and cancellations amid staffing shortages at the country’s busiest airports. Millions of Americans who rely on federal benefits were also left in limbo as funding for critical government programs ran close to drying out.
At the heart of the issue was Democratic leaders’ refusal to back any funding bill that did not also extend the enhanced Obamacare subsidies. Democrats argued it was their best hope of preventing healthcare price hikes for Americans across the U.S.
Republicans agreed to hold conversations on reforming what they saw as a broken healthcare system, but they refused to pair any partisan priority with federal funding.
In the end, a compromise led by the Senate — which saw eight Democrats in the upper chamber join colleagues to pass the bill in a 60 to 40 vote — included a side deal guaranteeing the left a vote on extending the enhanced subsidies sometime in December.
Johnson has made no such promise in the House, however.
And the lack of a guarantee on extending those subsidies has angered progressives and Democratic leaders.
‘What were Republicans willing to give in the end, other more than a handshake deal to take a future vote on extending the healthcare subsidies?’ Rep. Shomari Figures, D-Ala., said Wednesday. ‘We all know that a future vote is the equivalent of asking two wolves and a chicken to vote on what’s for dinner. It is dead on arrival.’
The full House will now vote on the legislation during the 7 p.m. hour.
The bill kicks the current federal funding fight to Jan. 30, by which point House GOP leaders said they were confident they’ll finish work on a longer-term deal for fiscal year 2026.
‘There are nine remaining bills, and we’d like to get all of those done in the next few weeks. And, so, [House Appropriations Committee Chairman Tom Cole, R-Okla.] and his appropriators will be working overtime,’ House Majority Leader Steve Scalise, R-La., told Fox News Digital.
Asked if he thought they’d get it done by that date, Cole said, ‘I think we can.’
A bill to end the record-breaking U.S. government shutdown is headed to President Donald Trump’s desk after more than 42 days.
Federal funding legislation aimed at opening the government passed in the House Wednesday evening, ending the weeks-long fiscal standoff that has largely paralyzed Congress since Oct. 1. Republicans on the House floor erupted in cheers when the bill prevailed while the majority of Democrats quietly exited the chamber.
The White House said Trump would sign the bill at 9:45 p.m. this evening.
Six Democrats voted with all but two Republicans to pass the bill with a 222 to 209 margin. The Democrats who voted in favor of the legislation are Reps. Tom Suozzi, D-N.Y., Henry Cuellar, D-Texas, Adam Gray, D-Calif., Marie Gluesenkamp Perez, D-Wash, and Don Davis, D-N.C.
When the House took its initial vote on federal funding legislation on Sept. 19, just one Democrat — Golden — voted with the GOP.
The vast majority of House Democrats opposed the bill, however, including their senior ranks.
House Minority Leader Hakeem Jeffries, D-N.Y., reiterated to reporters hours before the vote that Democrats were frustrated the bill did not do anything about COVID-19 pandemic-era healthcare subsidies under Obamacare, also known as the Affordable Care Act (ACA). Those enhanced tax credits expire this year.
‘House Democrats are here on the Capitol steps to reiterate our strong opposition to this spending bill because it fails to address the Republican healthcare crisis, and it fails to extend the Affordable Care Act tax credit,’ Jeffries said.
House Speaker Mike Johnson, R-La., sounded optimistic in comments to reporters Wednesday morning ahead of the vote, however.
‘I wanted to come out and say that we believe the long national nightmare will be over tonight,’ Johnson said. ‘It was completely and utterly foolish and pointless in the end.’
Some drama threatened to crack House GOP unity earlier in the day, however, as some Republicans in the lower chamber seethed over a last-minute provision added to the bill that allows senators whose communications were tapped during former Special Counsel Jack Smith’s probe to sue the federal government for $500,000 each.
Reps. Chip Roy, R-Texas, Austin Scott, R-Ga., and Morgan Griffith, W.Va., all shared concerns with the measure but said they would not extend the government shutdown over it.
Johnson appeared to placate their and others’ concerns, at least for now, with a promise to vote next week on separate legislation repealing that provision.
Rep. Greg Steube, R-Fla., told reporters he would vote against the bill over its inclusion, however.
‘I’m not voting to send Lindsey Graham half a million dollars,’ he told reporters.
He and Rep. Thomas Massie, R-Ky., voted against the final bill, but their opposition was not enough to sink legislation.
Meanwhile, the shutdown’s effects on the country have grown more severe by the day.
Many of the thousands of air traffic controllers and Transportation Security Administration (TSA) agents who had to work without pay were forced to take second jobs, causing nationwide flight delays and cancellations amid staffing shortages at the country’s busiest airports. Millions of Americans who rely on federal benefits were also left in limbo as funding for critical government programs ran close to drying out.
At the heart of the issue was Democratic leaders’ refusal to back any funding bill that did not also extend the enhanced Obamacare subsidies. Democrats argued it was their best hope of preventing healthcare price hikes for Americans across the U.S.
Republicans agreed to hold conversations on reforming what they saw as a broken healthcare system, but they refused to pair any partisan priority with federal funding.
In the end, a compromise led by the Senate — which saw eight Democrats in the upper chamber join colleagues to pass the bill in a 60 to 40 vote — included a side deal guaranteeing the left a vote on extending the enhanced subsidies sometime in December.
Johnson has made no such promise in the House, however.
And the lack of a guarantee on extending those subsidies has angered progressives and Democratic leaders.
‘What were Republicans willing to give in the end, other more than a handshake deal to take a future vote on extending the healthcare subsidies?’ Rep. Shomari Figures, D-Ala., said Wednesday. ‘We all know that a future vote is the equivalent of asking two wolves and a chicken to vote on what’s for dinner. It is dead on arrival.’
Republican Study Committee Chairman August Pfluger, R-Texas, criticized Democrats for prolonging the shutdown for little payoff.
‘They literally got absolutely nothing except for a total and complete surrender, that accomplished nothing more than hurting American families,’ he said.
The bill kicks the current federal funding fight to Jan. 30, by which point House GOP leaders said they were confident they’ll finish work on a longer-term deal for fiscal year 2026.
It also includes full-year federal spending for the Department of Agriculture, the legislative branch, and the Department of Veterans Affairs — three of 12 annual appropriations bills that Congress is tasked with passing annually.
‘There are nine remaining bills, and we’d like to get all of those done in the next few weeks. And, so, [House Appropriations Committee Chairman Tom Cole, R-Okla.] and his appropriators will be working overtime,’ House Majority Leader Steve Scalise, R-La., told Fox News Digital.
Asked if he thought they’d get it done by that date, Cole said, ‘I think we can.’
Discovery of uranium mineralization in ideal geological setting, supported by regional radiometric anomaly, confirms large Rossing-style target
ReeXploration Inc. (TSXV: REE) (FSE: K2I0) (‘ReeXploration’ or the ‘Company’) is pleased to announce the identification of a significant new uranium exploration target at its Eureka Project (‘Eureka’ or the ‘Project’), located in the Erongo mining district, central Namibia. This new uranium target supports the Company’s broader focus on advancing critical-mineral opportunities in stable, mining-friendly jurisdictions.
HIGHLIGHTS:
‘This uranium target, which is almost entirely covered by thin overburden, represents a promising exploration opportunity within one of the world’s most prolific uranium belts,’ commented Tolene Kruger, Senior Geologist for ReeXploration. ‘The geology, structural setting, and early results are consistent with the deposit models that led to the discovery of the major leucogranite-hosted uranium deposits within Namibia.’
Christopher Drysdale, Interim CEO for ReeXploration, added ‘The identification of this new target highlights the strong technical work completed by our exploration team and the expanded potential of the Eureka Project. As we continue to advance with our REE resource growth plan within the Eureka Dome, this extensive target immediately outside the Dome adds significant exploration upside and optionality for our shareholders, in one of the world’s most established critical minerals mining jurisdictions. We are looking forward to advancing exploration on our numerous REE targets and this newly identified uranium target, consistent with our strategy to discover significant critical mineral resources that contribute to secure, responsible supply chains.’
Expanded Discovery Potential – Large-Scale Rössing-Style Target
The identification of this target underscores the exceptional potential of the Eureka Project, which now includes a growing pipeline of REE targets alongside this newly recognized uranium opportunity. Review and field validation of government airborne radiometric data revealed extensive uranium anomalies situated off the southwestern margin of the Eureka Dome, which is host to the Company’s REE mineral resources and exploration targets. The government airborne radiometric data shows large-scale uranium anomalies 6.5 x 3.5 kilometres in extent with high uranium and low thorium – characteristic signature for Rössing-style targets (Figure 1).
Figure 1: Company license holding showing REE targets within the Eureka Dome, and high uranium anomalies outlined in red on uranium radiometric (government airborne radiometrics) backdrop. Insert: Thorium radiometric backdrop showing low thorium relative to the uranium anomalies.
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Located Along Trend of Namibia’s Renowned Alaskite Alley
The new uranium target at Eureka is situated along trend of Namibia’s ‘Alaskite Alley’, a structural corridor within Namibia’s Central Zone of the Damara Belt that hosts multiple giant uranium deposits hosted within leucogranites, including Rössing, Husab, Etango, Omaholo and Norasa (Figure 2).
Figure 2: Regional satellite view showing the position of the uranium anomalies southwest of the Eureka Dome, and their proximity to the Welwitschia Lineament and other large uranium deposits in Alaskite Alley.
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Key Geological Criteria Consistent with Major Uranium Deposits
The target exhibits all the key geological criteria consistent with the major uranium deposit models, including (Figure 3):
The Welwitschia Lineament is located immediately east of the new uranium target at Eureka.
Figure 3: Comparison between the major uranium deposits in Alaskite Alley and the airborne uranium anomalies southwest of the Eureka Dome.
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Initial Field Reconnaissance Supports Potential for Rössing-Style Deposit
Field spectrometer prospecting conducted by the Company has confirmed the regional scale of the airborne radiometric uranium anomalies. The anomalies relate to widespread uranium mineralization occurring within thin overburden, which is best visible where drainages have incised a regionally occurring gypcrete/calcrete horizon with anomalous values ranging from 300 to 1,500 counts per second (‘cps’) (Figure 4).
Figure 4: Photographs taken during reconnaissance field work and ground spectrometer survey within the anomalous areas.
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The uranium mineralization within the overburden is potentially indicative of extensive uranium mineralization within the underlying leucogranites, supported by (Figure 5):
Discovery of secondary uranium mineralization (carnotite) within weathered/leached leucogranites— pXRF semiquantitative values of up to 853 ppm U.
Abundant ‘smokey’ or irradiated quartz within the leucogranites.
Spectrometer evidence of uranium enrichment of weathered leucogranites where in contact with chemically-reactive calc-silicates.
Figure 5: Mineralized leucogranite found during reconnaissance field work and the ground spectrometer survey.
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Historical Work Focused on Shallow Overburden Mineralization
Although the target is on trend with Namibia’s Alaskite Alley, its position farther north, together with the thin overburden and the presence of calc-silicates belonging to the Arandis rather than the Khan Formation, likely contributed to the lack of focused historical exploration. Despite the highly favorable geological setting, the target appears to remain largely untested.
Historical uranium exploration at Eureka—outside of the main Eureka Dome and then held under EPL 3637—was primarily directed toward near-surface secondary uranium (carnotite) mineralization hosted within calcrete and gypcrete horizons. While historical work confirmed the presence of leucogranites intruding calc-silicate rocks, these potential bedrock sources were evidently not systematically drill-tested at any depth.
The work completed in 2009 consisted mainly of shallow pitting and percussion drilling (<5 m depth) designed to evaluate surface uranium enrichment in the search for calcrete-hosted (paleochannel-type) uranium deposits such as Langer Heinrich, leaving the primary leucogranite targets effectively untested. Across the broader Eureka license area, historical work included 100 prospecting pits (to 1.8 m depth, averaging 1.3 m) and 139 rotary air-blast (RAB) drill holes totaling only 803 m (i.e. average depth of only 5.8 m). Visible carnotite mineralization was reported in several pits, with uranium values up to 192 ppm U₃O₈ over 1.18 m, confirming uranium enrichment within the overburden and weathered bedrock. Preliminary, non-NI 43-101-compliant historical estimates indicated approximately 600,000 lbs U₃O₈ at 70 ppm within the overburden gycretes and calcretes (see Technical Disclosure below in reference to this historical resource estimate).
Despite best efforts, the Company has been unable to locate additional drill data or records. The summary descriptions provided in the available report suggest that systematic testing of deeper bedrock targets was never completed. This provides a significant opportunity to evaluate the potential for Rössing-style, leucogranite-hosted uranium mineralization beneath the thin overburden.
Drill Testing Warranted Below the Weathering Profile
Given the apparent shallow nature of the historical drilling, any testing of the underlying leucogranite units would have been very limited or non-existent, with exploration evidently focused on surface and near-surface mineralization within the overburden. The highly weathered nature of the limited leucogranite outcrop indicates that leaching has occurred near-surface, and as a result, leucogranites found at surface would not be expected to be mineralized other than possible secondary mineralization (carnotite) — as discovered from initial field reconnaissance. Drilling below the weathering profile is required to test for primary leucogranite-hosted mineralization (uraninite), typical of Rössing-style deposits.
Technical Disclosure
The historical exploration results and historical resource estimate summarized herein are considered historical in nature and have not been verified by the Company’s Qualified Person as defined under National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’). These results, including the historical resource estimate, are sourced from Wartha, R.R. (2009). 2009 Annual Technical Report – EPL 3637 (Ancash Investment (Pty) Ltd.), prepared for Valencia Uranium (Pty) Ltd., December 18, 2009. The approximate historical resource estimate was calculated using an area of 1.5 million m2 and an average mineralized thickness of 1 to 2 metres within the overburden gycretes and calcretes providing approximately 3.9 million tonnes of mineralization at 70 ppm, totaling in 600,000 lbs of U₃O₈. The historical resource categories used in the estimate do not conform to the current CIM Definition Standards and should not be compared directly to current mineral resource categories. The Company is not aware of any more recent mineral resource estimates for the Property. A Qualified Person has not completed sufficient work to verify the historical estimate or to classify it as a current mineral resource, and the Company is not treating the historical estimate as a current mineral resource. To verify and upgrade the historical estimate, additional work will be required, including data verification, review of historical drilling and sampling QA/QC, updated geological modeling, and completion of a new mineral resource estimate in accordance with NI 43-101 and CIM Definition Standards.
Field analysis of rock samples was carried out using a calibrated SciAps X-555 portable X-Ray Fluorescence (pXRF) analyzer. The instrument is capable of detecting uranium providing a rapid, preliminary, and semi-quantitative indication of uranium concentrations which is considered sufficiently reliable for initial reporting of initial field reconnaissance results. Samples are expected to be verified through uranium assay at an accredited laboratory.
Counts per second (‘cps’) results were collected using an RS-125 handheld gamma-ray spectrometer. The RS-125 measures natural radioactivity from potassium (K), uranium (U), and thorium (Th), providing real-time counts-per-second (cps) readings that assist in identifying zones of elevated radioactivity and guiding geological mapping and sampling programs. The cps measurements are qualitative in nature and should not be interpreted as equivalent to uranium concentrations obtained through laboratory analysis.
Qualified Person
Tolene Kruger, BSc. (Hons), M.Sc., is a consulting geologist and has reviewed and approved the scientific and technical information in this news release. Mrs. Kruger is registered as Professional Natural Scientist (Pr.Sci.Nat.) with the South African Council for Natural Science Professions (SACNASP, Reg. No.: 148182), and a Qualified Person for the purposes of National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Ms. Kruger is not independent of the Company under NI 43-101.
About ReeXploration Inc.
ReeXploration (TSXV: REE) (FSE: K2I0) is a Canadian exploration company positioned to help meet surging global demand for secure, responsible supplies of critical minerals essential to the clean energy transition, advanced technologies and national defense. The company’s flagship Eureka Project in central Namibia hosts rare earth element (REE) mineralization in monazite, rich in NdPr magnet metals, with bench-scale testing confirming production of a clean, Western-standard concentrate. Supported by a Namibia-based technical team and guided by global critical minerals experts, ReeXploration is advancing discovery-led growth for rare earth elements (REEs) and other critical minerals, building a credible, ESG-aligned platform positioned to benefit from the global race to diversify and secure responsible supply chains.
Caution Regarding Forward-Looking Information
This press release may contain forward-looking information. This information is based on current expectations and assumptions (including assumptions relating to general economic and market conditions) that are subject to significant risks and uncertainties that are difficult to predict. Actual results may differ materially from results suggested in any forward-looking information. ReeXploration does not assume any obligation to update forward-looking information in this release, or to update the reasons why actual results could differ from those reflected in the forward-looking information unless and until required by securities laws applicable to ReeXploration. Additional information identifying risks and uncertainties is contained in the filings made by ReeXploration with Canadian securities regulators, which filings are available at www.sedarplus.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Further details are available on the Corporation’s website at www.rareearthexploration.com or contact Christopher Drysdale, Interim CEO of ReeXploration Inc., at +1 902-334-1949, contact@rareearthexploration.com.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/274096
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Osisko Metals Incorporated (the ‘ Company or ‘ Osisko Metals ‘) ( TSX: OM,OTC:OMZNF ; OTCQX: OMZNF ; FRANKFURT: 0B51 ) is pleased to announce new drill results from the Gaspé Copper Project, located in the Gaspé Peninsula of Eastern Québec.
New analytical results are presented below (see Table 1), including 35 mineralized intercepts from ten new drill holes. Infill intercepts are located inside the 2024 MRE model ( see November 14, 2024 news release ), and are focused on upgrading inferred mineral resources to measured or indicated categories, as applicable. Expansion intercepts are located outside the 2024 MRE model and may potentially lead to additional resources that will be classified appropriately within the next MRE update. Some of the reported intercepts have contiguous shallower infill as well as deeper expansion (noted on Table 1 below as ‘Both’). Maps showing hole locations are available at www.osiskometals.com .
Highlights:
Table 1: Infill and Expansion Drilling Results
| DDH No. | From (m) | To (m) | Length (m) | Cu % | Ag g/t | Mo % | CuEq* | Type** |
| 30-1115 | 499.5 | 532.5 | 33.0 | 1.28 | 8.89 | 0.009 | 1.36 | Expansion |
| And | 661.5 | 717.6 | 56.1 | 0.59 | 3.52 | <0.005 | 0.61 | Expansion |
| 30-1117 | 21.0 | 45.0 | 24.0 | 0.24 | 1.79 | <0.005 | 0.25 | Infill |
| And | 149.0 | 161.0 | 12.0 | 0.17 | 1.84 | 0.016 | 0.24 | Infill |
| And | 212.5 | 991.5 | 779.0 | 0.26 | 1.68 | 0.019 | 0.34 | Both |
| (including) | 212.5 | 679.0 | 466.5 | 0.22 | 1.44 | 0.018 | 0.29 | Infill |
| (including) | 679.0 | 991.5 | 312.5 | 0.32 | 2.04 | 0.019 | 0.41 | Expansion |
| 30-1118 | 17.1 | 573.0 | 555.9 | 0.20 | 1.00 | 0.008 | 0.26 | Infill |
| And | 624.0 | 775.5 | 151.5 | 0.11 | 0.77 | 0.027 | 0.21 | Expansion |
| 30-1123 | 23.0 | 59.0 | 36.0 | 0.28 | 2.19 | <0.005 | 0.30 | Infill |
| And | 72.0 | 107.0 | 35.0 | 0.19 | 1.93 | <0.005 | 0.20 | Infill |
| And | 123.0 | 137.0 | 14.0 | 0.13 | 2.04 | <0.005 | 0.14 | Infill |
| And | 213.0 | 526.5 | 313.5 | 0.23 | 1.84 | 0.012 | 0.28 | Both |
| (including) | 213.0 | 443.0 | 230.0 | 0.24 | 1.94 | 0.011 | 0.29 | Infill |
| (including) | 443.0 | 526.5 | 83.5 | 0.20 | 1.57 | 0.017 | 0.27 | Expansion |
| And | 553.5 | 774.0 | 220.5 | 0.20 | 1.63 | 0.024 | 0.30 | Expansion |
| 30-1125 | 15.3 | 199.5 | 184.2 | 0.20 | 0.97 | <0.005 | 0.21 | Infill |
| And | 255.0 | 288.0 | 33.0 | 0.12 | 1.10 | 0.008 | 0.14 | Infill |
| And | 304.5 | 335.0 | 30.5 | 0.14 | 0.65 | 0.009 | 0.18 | Infill |
| And | 356.6 | 531.7 | 175.1 | 0.15 | 0.98 | 0.019 | <0.005 | Infill |
| And | 643.0 | 936.0 | 293.0 | 0.23 | 1.26 | 0.019 | 0.30 | Expansion |
| 30-1126 | 72.0 | 204.0 | 132.0 | 0.13 | 1.05 | 0.005 | 0.15 | Infill |
| And | 229.5 | 1033.5 | 804.0 | 0.24 | 1.48 | 0.016 | 0.31 | Both |
| (including) | 229.5 | 634.1 | 404.6 | 0.24 | 1.81 | 0.017 | 0.32 | Infill |
| (including) | 634.1 | 1033.5 | 399.4 | 0.24 | 1.15 | 0.015 | 0.30 | Expansion |
| 30-1127 | 5.0 | 24.0 | 19.0 | 0.16 | 2.31 | <0.005 | 0.18 | Infill |
| And | 107.0 | 124.0 | 17.0 | 0.30 | 3.53 | 0.005 | 0.33 | Infill |
| And | 255.0 | 284.2 | 29.2 | 0.28 | 2.66 | 0.012 | 0.34 | Infill |
| And | 328.5 | 370.5 | 42.0 | 0.21 | 1.84 | 0.008 | 0.25 | Infill |
| And | 476.5 | 493.5 | 17.0 | 0.19 | 1.46 | <0.005 | 0.21 | Infill |
| And | 546.0 | 591.0 | 45.0 | 0.56 | 3.46 | 0.046 | 0.75 | Infill |
| And | 807.9 | 833.0 | 25.1 | 0.53 | 2.79 | <0.005 | 0.56 | Expansion |
| And | 864.0 | 891.0 | 27.0 | 0.40 | 2.46 | <0.005 | 0.42 | Expansion |
| 30-1128 | 8.0 | 32.0 | 24.0 | 0.18 | 2.48 | <0.005 | 0.19 | Expansion |
| And | 44.0 | 58.0 | 14.0 | 0.21 | 2.01 | <0.005 | 0.22 | Expansion |
| And | 78.0 | 193.5 | 115.5 | 0.44 | 3.67 | 0.008 | 0.49 | Expansion |
| And | 225.0 | 555.6 | 330.6 | 0.46 | 4.33 | <0.005 | 0.49 | Expansion |
| (including) | 392.0 | 406.5 | 14.5 | 2.51 | 24.9 | <0.005 | 2.66 | Expansion |
| 30-1130 | 5.0 | 18.0 | 13.0 | 0.19 | 2.09 | <0.005 | 0.21 | Infill |
| And | 168.0 | 515.7 | 347.7 | 0.24 | 2.14 | 0.010 | 0.29 | Infill |
| And | 610.5 | 888.0 | 277.5 | 0.26 | 1.51 | 0.023 | 0.35 | Infill |
| 30-1131 | 27.0 | 741.0 | 714.0 | 0.21 | 1.11 | 0.015 | 0.27 | Both |
* See explanatory notes below on copper equivalent values and Quality Assurance/Quality Controls.
** ‘Both’ indicates drill holes that have contiguous shallower infill as well as deeper expansion intercepts.
Discussion
Drill hole 30-1115, located on the eastern margin of the 2024 MRE model, did not intersect significant mineralization to a depth of 499 metres, but cut relatively high grades of 33.0 metres averaging 1.28 % Cu, 8.89 g/t Ag within the C Zone skarn horizon (expansion), as well as 56.1 metres averaging 0.59 % Cu and 3.52 g/t Ag, above the E Zone skarn horizon. The hole ended in an E zone stope where massive sulfides and high-grade skarns were previously mined.
Drill hole 30-1117, located on the western flank of Copper Mountain, cut three mineralized intervals including 779.0 metres averaging 0.26 % Cu, 1.68 g/t Ag and 0.019% Mo (which includes 312.5 metres of depth expansion), extending mineralization in this area to a vertical depth of 991 metres.
Drill hole 30-1118, located near the southern lip of the Copper Mountain open pit, cut two mineralized intervals including 555.9 metres averaging 0.20 % Cu, 1.00 g/t Ag and 0.008% Mo (infill) as well as a deeper intersection of 151.5 metres averaging 0.11 % Cu, 0.77 g/t Ag and 0.027% Mo (expansion), extending mineralization in this area to a vertical depth of 776 metres.
Drill hole 30-1123, located on the southern flank of Copper Mountain, cut three mineralized intersections, 14 to 36 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 137 metres, followed by 313.5 metres averaging 0.23 % Cu, 1.84 g/t Ag and 0.012% Mo (infill and expansion) and then by 220.5 metres averaging 0.20 % Cu, 1.63 g/t Ag and 0.024% Mo (expansion), extending mineralization in this area to a vertical depth of 774 metres.
Drill hole 30-1125, located approximately 200 metres south of 30-1118, near Copper Brook, cut five mineralized intersections, 30 to 293 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 936 metres, including 184.2 metres averaging 0.20 % C and 0.97 g/t Ag (infill) as well as 293.0 metres averaging 0.23 % Cu, 1.26 g/t Ag and 0.019% Mo (expansion).
Drill hole 30-1126, located on the western flank of Copper Mountain, cut two mineralized intervals including 804.0 metres averaging 0.24 % Cu, 1.48 g/t Ag and 0.016% Mo (which includes 399.4 metres of depth expansion), extending mineralization in this area to a vertical depth of 1033 metres.
Drill hole 30-1127, located near the eastern margin of the 2024 MRE model, cut eight intersections of mineralization, 17 to 45 metres thick and distributed in ‘layer cake’ fashion from surface to a vertical depth of 891 metres, confirming the near limit of the 2024 MRE model at this location.
Drill hole 30-1128, located 100 metres south of the southern margin of the 2024 MRE model, cut four mineralized intersections, all expansion outside the current resource model, including 115.5 metres averaging 0.44 % Cu and 3.67 g/t Ag within (and above) the B Zone skarn horizon, as well as 330.6 metres averaging 0.46 % Cu and 4.33 g/t Ag from the top of the C Zone skarn to well below (120 metres) the E zone horizon. This latter intersection included a high-grade interval of 14.5 metres averaging 2.51 % Cu and 24.9 g/t Ag, located in a mineralized vein/massive sulfide zone about 20 metres above the E Zone horizon. This is a new mineralized zone not previously identified at Gaspé Copper and its extent is presently unknown.
Drill hole 30-1130, located on top of Copper Mountain near the center of the 2024 MRE model, cut two significant mineralized intervals including 347.7 metres averaging 0.24 % Cu, 2.14 g/t Ag and 0.010% Mo, followed by 277.5 metres averaging 0.26% Cu, 1.51 g/t Ag and 0.023% Mo, extending mineralization in this area to a vertical depth of 874 metres.
Drill hole 30-1131, located near the southern lip of the Copper Mountain open pit adjacent to 30-1118, was drilled at a 78-degree dip towards the north and it intersected 741 metres of continuous mineralization from surface, averaging 0.21 % Cu, 1.11 g/t Ag and 0.015% Mo (infill). This hole confirmed mineralization in this area to a vertical depth of 725 metres, ending in the porphyry intrusion core of the Copper Mountain deposit.
Mineralization at Gaspé Copper is of porphyry copper/skarn type and occurs as disseminations and stockworks of chalcopyrite with pyrite or pyrrhotite and minor bornite and molybdenite. One prograde and at least five retrograde vein/stockwork mineralizing events have been recognized at Copper Mountain, which overprint earlier, bedding replacement skarn and porcellanite-hosted mineralization throughout the Gaspé Copper system. Porcellanite is a historical mining term used to describe bleached, pale green to white potassic-altered hornfels. Subvertical stockwork mineralization dominates at Copper Mountain whereas prograde bedding-parallel mineralization, that is mostly stratigraphically controlled, dominates in the area of lower Copper Mountain, Needle Mountain, Needle East, and Copper Brook. High molybdenum grades (up to 0.5% Mo) were locally obtained in both the C Zone and E Zone skarns away from Copper Mountain.
The 2022 to 2024 Osisko Metals drill programs were focused on defining open-pit resources within the Copper Mountain stockwork mineralization ( see May 6, 2024 MRE press release ). Extending the resource model south of Copper Mountain into the poorly-drilled prograde skarn/porcellanite portion of the system subsequently led to a significantly increased resource, mostly in the Inferred category ( see November 14, 2024 MRE press release ).
The current drill program is designed to convert the November 2024 MRE to Measured and Indicated categories, as well as test the expansion of the system deeper into the stratigraphy and laterally to the south and southwest towards Needle East and Needle Mountain respectively. The November 2024 MRE was limited at depth to the base of the L1 skarn horizon (C Zone), and all mineralized intersections below this horizon represent potential depth extensions to the deposit, to be included in the next scheduled MRE update in Q1 2026.
Most holes are being drilled sub-vertically into the altered calcareous stratigraphy which dips 20 to 25 degrees to the north. The L1 (C Zone) the L2 (E Zone) skarn/marble horizons were intersected in most holes, as well as intervening porcellanites that host the bulk of the disseminated copper mineralization.
Table 2: Drill hole locations
| DDH No. | Azimuth (°) | Dip (°) | Length (m) | UTM E | UTM N | Elevation |
| 30-1115 | 0.0 | -90.0 | 723.6 | 316600.0 | 5426109.0 | 612.4 |
| 30-1117 | 0.0 | -90.0 | 1014.0 | 315811.0 | 5426424.0 | 695.7 |
| 30-1118 | 0.0 | -90.0 | 780.0 | 315612.0 | 5426495.0 | 580.2 |
| 30-1123 | 0.0 | -90.0 | 894.0 | 316136.0 | 5425972.8 | 621.3 |
| 30-1125 | 0.0 | -90.0 | 972.0 | 315608.0 | 5426313.0 | 580.0 |
| 30-1126 | 0.0 | -90.0 | 1080.9 | 315800.0 | 5426321.0 | 651.9 |
| 30-1127 | 0.0 | -90.0 | 1029.0 | 316500.0 | 5426171.0 | 647.8 |
| 30-1128 | 90.0 | -88.0 | 675.0 | 316277.0 | 5425557.0 | 566.5 |
| 30-1130 | 345.0 | -80.0 | 888.0 | 316194.0 | 5426387.0 | 746.0 |
| 30-1131 | 355.0 | -78.0 | 741.0 | 315612.0 | 5426495.0 | 583.0 |
Explanatory note regarding copper-equivalent grades
Copper Equivalent grades are expressed for purposes of simplicity and are calculated taking into account: 1) metal grades; 2) estimated long-term prices of metals: US$4.25/lb copper, $20.00/lb molybdenum, and US$24/oz silver; 3) estimated recoveries of 92%, 70%, and 70% for Cu, Mo, and Ag respectively; and 4) net smelter return value of metals as percentage of the price, estimated at 86.5%, 90.7%, and 75.0% for Cu, Mo, and Ag respectively.
Qualified Person
The scientific and technical content of this news release has been reviewed and approved by Mr. Bernard-Olivier Martel, P. Geo. (OGQ 492), an independent ‘qualified person’ as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects (‘NI 43-101’).
Quality Assurance / Quality Control
Mineralized intervals reported herein are calculated using an average 0.12% CuEq lower cut-off over contiguous 20-metre intersections (shorter intervals as the case may be at the upper and lower limits of reported intervals). Intervals of 10 metres or less are not reported unless indicating significantly higher grades . True widths are estimated at 90 – 92% of the reported core length intervals.
Osisko Metals adheres to a strict QA/QC program for core handling, sampling, sample transportation and analyses, including insertion of blanks and standards in the sample stream. Drill core is drilled in HQ or NQ diameter and securely transported to its core processing facility on site, where it is logged, cut and sampled. Samples selected for assay are sealed and shipped to ALS Canada Ltd.’s preparation facility in Sudbury. Sample preparation details (code PREP-31DH) are available on the ALS Canada website. Pulps are analyzed at the ALS Canada Ltd. facility in North Vancouver, BC. All samples are analyzed by four acid digestion followed by both ICP-AES and ICP-MS for Cu, Mo and Ag.
About Osisko Metals
Osisko Metals Incorporated is a Canadian exploration and development company creating value in the critical metals sector, with a focus on copper and zinc. The Company acquired a 100% interest in the past-producing Gaspé Copper mine from Glencore Canada Corporation in July 2023. The Gaspé Copper mine is located near Murdochville in Québec ‘ s Gaspé Peninsula. The Company is currently focused on resource expansion of the Gaspé Copper system, with current Indicated Mineral Resources of 824 Mt averaging 0.34% CuEq and Inferred Mineral Resources of 670 Mt averaging 0.38% CuEq (in compliance with NI 43-101). For more information, see Osisko Metals’ November 14, 2024 news release entitled ‘Osisko Metals Announces Significant Increase in Mineral Resource at Gaspé Copper’. Gaspé Copper hosts the largest undeveloped copper resource in eastern North America, strategically located near existing infrastructure in the mining-friendly province of Québec.
In addition to the Gaspé Copper project, the Company is working with Appian Capital Advisory LLP through the Pine Point Mining Limited joint venture to advance one of Canada ‘ s largest past-producing zinc mining camps, the Pine Point project, located in the Northwest Territories. The current mineral resource estimate for the Pine Point project consists of Indicated Mineral Resources of 49.5 Mt averaging 5.52% ZnEq and Inferred Mineral Resources of 8.3 Mt averaging 5.64% ZnEq (in compliance with NI 43-101). For more information, see Osisko Metals ‘ June 25, 2024 news release entitled ‘Osisko Metals releases Pine Point mineral resource estimate: 49.5 million tonnes of indicated resources at 5.52% ZnEq’. The Pine Point project is located on the south shore of Great Slave Lake, NWT, close to infrastructure, with paved road access, an electrical substation and 100 kilometres of viable haul roads.
For further information on this news release, visit www.osiskometals.com or contact:
Don Njegovan, President
Email: info@osiskometals.com
Phone: (416) 500-4129
Cautionary Statement on Forward-Looking Information
This news release contains ‘forward-looking information’ within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Any statement that involves predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often, but not always, using phrases such as ‘expects’, or ‘does not expect’, ‘is expected’, ‘interpreted’, ‘management’s view’, ‘anticipates’ or ‘does not anticipate’, ‘plans’, ‘budget’, ‘scheduled’, ‘forecasts’, ‘estimates’, ‘potential’, ‘feasibility’, ‘believes’ or ‘intends’ or variations of such words and phrases or stating that certain actions, events or results ‘may’ or ‘could’, ‘would’, ‘might’ or ‘will’ be taken, occur or be achieved) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This news release contains forward-looking information pertaining to, among other things: the tax treatment of the FT Units; the timing of incurring the Qualifying Expenditures and the renunciation of the Qualifying Expenditures; the ability to advance Gaspé Copper to a construction decision (if at all); the ability to increase the Company’s trading liquidity and enhance its capital markets presence; the potential re-rating of the Company; the ability for the Company to unlock the full potential of its assets and achieve success; the ability for the Company to create value for its shareholders; the advancement of the Pine Point project; the anticipated resource expansion of the Gaspé Copper system and Gaspé Copper hosting the largest undeveloped copper resource in eastern North America.
Forward-looking information is not a guarantee of future performance and is based upon a number of estimates and assumptions of management, in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, including, without limitation, assumptions about: the ability of exploration results, including drilling, to accurately predict mineralization; errors in geological modelling; insufficient data; equity and debt capital markets; future spot prices of copper and zinc; the timing and results of exploration and drilling programs; the accuracy of mineral resource estimates; production costs; political and regulatory stability; the receipt of governmental and third party approvals; licenses and permits being received on favourable terms; sustained labour stability; stability in financial and capital markets; availability of mining equipment and positive relations with local communities and groups. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information are set out in the Company’s public disclosure record on SEDAR+ (www.sedarplus.ca) under Osisko Metals’ issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward- looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSX Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) accept responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission, or other regulatory authority has approved or disapproved the information contained herein.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/1363bf79-5e03-4101-a728-51e24d82c5b7
https://www.globenewswire.com/NewsRoom/AttachmentNg/3081ce36-9665-4fc1-95ee-eeef072ff25b
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