New Brunswick Mineral Spinout
Osisko Metals Plans New Brunswick Critical-Minerals Spinout to Form New Company
Anonymous
Key Points
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Osisko Metals’ Gaspé Copper Project has pit-constrained measured and indicated resources of 1.83 billion tonnes grading 0.32% copper equivalent, plus inferred resources of 239 million tonnes grading 0.46% copper equivalent.
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The NB Copper Project is accessible by paved and gravel roads on Crown land and contains an interpreted alteration footprint measuring approximately 5 kilometres by 2 kilometres—larger than the alteration aureole at Gaspé Copper.
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Historical drilling at NB Copper was largely shallow: only two holes reached depths of 500 to 600 metres, while 21 additional porphyry intrusions on the property have not been evaluated for bulk-tonnage copper potential.
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The portfolio includes claims covered by three option agreements dated January 9, April 20 and September 9, 2026; those agreements are intended to be assigned to OCMC in exchange for shares in the new company.
Osisko Metals is spinning out its New Brunswick copper exploration properties into a new standalone company called Osisko Critical Minerals Corporation (OCMC). Mining Weekly reports the company has raised $100 million through a private placement to fund aggressive exploration of the portfolio, which covers 645 square kilometers and includes the NB Copper Project. Osisko Metals will retain a minority stake while focusing its main efforts on advancing the larger Gaspé Copper Project in Quebec.
New Brunswick Portfolio Offers Deep Exploration Upside
The New Brunswick properties contain about 2,972 mineral claims with copper, silver and gold potential. Mining.com notes the NB Copper Project sits on Crown land accessible by paved and gravel roads, with an alteration footprint measuring roughly 5 kilometers by 2 kilometers — larger than the alteration zone at Gaspé Copper. The geological setting mirrors Osisko's Quebec asset, suggesting similar ore-forming processes.
Most Deep Drilling Remains Untested Territory
Historical drilling at NB Copper has been shallow. Only two holes reached depths of 500 to 600 meters, while 21 porphyry intrusions across the property have never been evaluated for bulk-tonnage copper potential. This means OCMC has significant room to test the deeper zones where large, lower-grade copper deposits typically form. The company plans to launch a drilling campaign once the spinout closes.
Osisko Retains Focus on Proven Gaspé Asset
The spinout lets Osisko Metals concentrate on developing its flagship Gaspé Copper Project in Quebec. Gaspé holds measured and indicated resources of 1.83 billion tonnes grading 0.32% copper equivalent, plus an additional 239 million tonnes of inferred resources grading 0.46% copper equivalent. By separating the early-stage New Brunswick properties, Osisko can advance Gaspé toward production while giving OCMC the focus and capital to explore its claims independently.
OCMC Spinout Subject to Final Approvals
The transaction remains conditional on financing, legal and tax reviews, final terms, and regulatory approvals. ADVFN reports OCMC announced the C$100 million private placement of special warrants to fund the exploration program. Once all conditions are met, OCMC will operate as an independent entity led by CEO John Burzynski, while Osisko Metals maintains a minority ownership stake in the new company.
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