In July 2022, Osisko Metals exercised its option to acquire 100% interest in the past-producing Gaspé Copper Mine located next to the community of Murdochville, in the Gaspé Peninsula of Eastern Quebec, approximately 825km east of Montreal. Quebec is one of the most mining-friendly jurisdictions in North America, with a rich history of copper production.
Gaspé Copper is among the largest copper development assets in Eastern North America. It is located in a safe, established mining jurisdiction with access to infrastructure. This unique will provide Osisko Metals exposure to copper, which is a critical mineral necessary in the development of renewable, green energy in the global shift towards decarbonization.
All necessary support infrastructure for the potential re-opening of Gaspé Copper is already in place. The former mine site benefits from paved road access, and is adjacent to the community of Murdochville. Highway 198 links Murdochville with the coastal community of Gaspé. Port access to the St. Lawrence is nearby at Sainte-Anne-de-Monts.
The site is also well-served by Hydro-Quebec, with an electrical substation located on-site to provide renewable hydroelectric power.