Among the highlights, one drill hole intersected 11.4m grading 7.74% zinc, 2.42% lead, 0.48% copper, 79.34g/t silver and 0.24g/t gold, in a previously unrecognised massive sulphide extension of the deposit.

The company said the results were of "particular importance".

Widely-spaced historical intercepts were not previously interpreted as one continuous zone but the results suggested the thicker massive sulphide trend extended over a lateral strike length of 420m, with the potential to extend the deposit boundary further, the company said.

It is aiming to develop two mining camps, consolidating 63,000ha in New Brunswick's Bathurst Mining Camp and aiming to complete its Pine Point acquisition this quarter, to feed into a central concentrator.

Osisko Mining (CN:OSK) and Osisko Gold Royalties (CN:OR) are major shareholders of the company, which formed in June last year when the former Bowmore Exploration started acquired holdings in New Brunswick.

Osisko Metals shares closed down almost 5% to C78c, well below a 52-week peak reached in August of $1.74.