Osisko Metals has signed an agreement to acquire a 100% undivided interest in the Key Anacon claims and surrounding area in Canada from Hunter Brook Holdings.

Located within the Bathurst Mining Camp (BMC), Key Anacon is around 19km south of Bathurst town, New Brunswick, and 16km south-east of the former Brunswick #12 Mine.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

The proposed acquisition comprises 45 claim units with a total surface area of 981ha and hosts around 12km of the Brunswick Horizon.

According to the Osisko, the acquired assets extend onto the adjacent and surrounding claims held by it.

Osisko Metals president and CEO Jeff Hussey said: “We are very happy to announce the purchase of the historical Key Anacon deposits as they will contribute significant resources and could become the cornerstone of Osisko Metals central concentrator multi-deposit concept in the Eastern portion of the BMC.

“Drilling is being planned and will consist of approximately 12,000m to explore the area in an attempt to increase the global historical resources and upgrade them to NI43-101 standards.”

“Drilling is being planned and will consist of approximately 12,000m to explore the area in an attempt to increase the global historical resources and upgrade them to NI43-101 standards.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Under the agreement, the company will have the exclusive rights to explore and develop the project in exchange for a payment of $2m in different tranches.

A day before closure of the transaction, Osisko needs to pay a sum of $1m, including $750,000 in cash and $250,000 payable in the equivalent of common shares.

A sum of $500,000 is payable in the equivalent of Osisko Metals common shares, two years after the signature of a definitive agreement.

The company needs to make a payment of a further $500,000 upon starting commercial production.