154.82 g/t Au and 990.71 g/t Ag over 0.43 m in the T4 Zone
MONTREAL, June 27, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce underground sampling results from its ongoing exploration program at its 100%-owned Trixie test mine ("Trixie"), within the Company's wider Tintic Project ("Tintic" or the "Tintic Project"), located in the historic East Tintic Mining District in central Utah, U.S.A.
Chris Lodder, President of Osisko Development, commented, "The underground face chip sampling at Trixie continues to define mineralized zones, namely below the main 625 level and into the 750 level at Trixie, and further to the south of the deposit closer to the Sioux Ajax fault within our current drill areas. These results will assist in furthering our knowledge of the extents of the deposit and improve our targeting in our underground exploration program at Trixie."
DRILL ASSAY HIGHLIGHTS
This news release includes assays from 444 underground exploration face, back and rib chip samples from 130 chips strings in development at Trixie (refer to Table 1). Select assay highlights include:
- 58.43 grams per tonne ("g/t") gold ("Au") and 551.10 g/t silver ("Ag") over 0.30 meters ("m") in CH01357 (1.70 troy ounce per short ton ("oz/t") Au and 16.07 oz/t Ag over 1.00 feet ("ft.")
- 47.69 g/t Au and 214.33 g/t Ag over 0.46 m in CH01358 (1.39 oz/t Au and 6.25 oz/t Ag over 1.50 ft.)
- 15.36 g/t Au and 56.34 g/t Ag over 3.02 m in CH01366 (0.45 oz/t Au and 1.64 oz/t Ag over 9.90 ft.) including 37.95 g/t Au and 128.87 g/t Ag over 0.79 m (1.11 oz/t Au and 3.76 oz/t Ag over 2.60 ft)
- 154.82 g/t Au and 990.71 g/t Ag over 0.43 m in CH01394 (4.52 oz/t Au and 28.90 oz/t Ag over 1.40 ft)
- 25.64 g/t Au and 138.26 g/t Ag over 0.61 m in CH01399 (0.75 oz/t Au and 4.03 oz/t Ag over 2.00 ft)
- 74.05 g/t Au and 351.18 g/t Ag over 0.15 m in CH01401 (2.16 oz/t Au and 10.24 oz/t Ag over 0.50 ft)
- 20.81 g/t Au and 558.21 g/t Ag over 0.30 m in CH01445 (0.61 oz/t Au and 16.28 oz/t Ag over 1.00 ft)
- 13.94 g/t Au and 640.46 g/t Ag over 0.30 m in CH01450 (0.41 oz/t Au and 18.68 oz/t Ag over 1.00 ft)
- 10.18 g/t Au and 300.79 g/t Ag over 0.61 m in CH01501 (0.30 oz/t Au and 8.77 oz/t Ag over 2.00 ft)
- 7.85 g/t Au and 497.81 g/t Ag over 0.91 m in CH01502 (0.23 oz/t Au and 14.52 oz/t Ag over 3.00 ft)
CHIP SAMPLE RESULTS SUMMARY
- A total of 444 underground exploration face, back and rib chip samples were collected in 130 chips strings in development at Trixie.
- Chip samples were collected from the T2 structure and T4 stockwork on the 625 and 750 levels.
- Samples on the 750 level assayed 20.81 g/t Au and 558.21 g/t Ag over 0.30 m and additional cross cuts are recommended for this area.
- Sampling on the 625 level focussed on development to the south towards the Sioux Ajax fault (Figure 2) and the majority of the sampling was within the T4 zone to avoid historical workings intersected in late 2022.
- Samples to the south of the current Trixie Mineral Resource Estimate ("Trixie MRE") are located in a crosscut in the T4 zone where underground diamond drilling is ongoing. Chip samples in this area assayed 10.18 g/t Au and 300.79 g/t Ag over 0.61 m and 12.38 g/t Au and 19.34 g/t Ag over 1.22 meters. See below under the heading "About Trixie" for details of the Tintic Technical Report (as defined herein).
- These sampling results will provide valuable data to improve our understanding and the confidence level of the mineralized zones defined in the Trixie MRE and to support a future mineral resource estimate update.
Face Sampling Methodology
As most structures at Trixie are steeply dipping to the east or west, current sampling procedures are designed to sample the structure. Chip samples are collected and do not exceed 1.0 m (3 ft.) in length. The face is washed for safety, and for better identification of mineralization, alteration and structures. The hanging wall and footwall of the structures are marked up on the face and back, samples intervals are marked up and follow lithological contacts.
About Trixie
The Trixie test mine is one of several gold and base metal targets within the larger Tintic Project consisting of >17,000 acres of patented mining claims and mineral leases within the historic East Tintic Mining District of Central Utah, U.S.A. The T2 and T4 structures at Trixie show multi-ounce gold grades associated with high sulphidation epithermal mineralization, structurally controlled and hosted within quartzites. The T2 structure mineralization consists of native Au, and rare Au-Ag – rich telluride minerals with quartz. The T4 is a mineralized stockwork zone is located in the hanging wall of the T2 and is comprised of Au-Ag rich mineralization in host rock quartzite with quartz-barite-sulphosalt stockwork veining. Mineralization reports consistent multi-ounce gold grades along the entire strike length.
A 3D model and virtual site tour of Trixie and the wider Tintic Project is accessible on the Company's VRIFY page at: https://vrify.com/decks/12801.
Information relating to the Tintic Project and the Trixie MRE is supported by the technical report titled "NI 43-101 Technical Report, Initial Mineral Resource Estimate for the Trixie Deposit, Tintic Project, Utah, United States of America", dated January 27, 2023 (with an effective date of January 10, 2023) prepared for the Company by independent representatives of Micon International Limited (the "Tintic Technical Report"). Reference should be made to the full text of the Tintic Technical Report, which was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and is available electronically on SEDAR (www.sedar.com) and on EDGAR (www.sec.gov) under Osisko Development's issuer profile and on the Company's website at www.osiskodev.com.
Figure 1: Trixie Project Area
Figure 2: Trixie Long Section
Figure 3: Trixie Long Section Sample Highlights
Table 1: Chip Length Weighted Assay Composites at Trixie
| METRIC | IMPERIAL | |||||||||||
| Hole ID | Depth from (m) | Depth to (m) | Length (m) | Au (g/t) | Ag (g/t) | Depth from (ft.) | Depth to (ft.) | Length (ft.) | Au (oz/t) | Ag (oz/t) | Target | |
| CH01357 | 0.00 | 0.30 | 0.30 | 58.43 | 551.10 | 0.00 | 1.00 | 1.00 | 1.70 | 16.07 | T4 625 | |
| CH01358 | 5.21 | 5.67 | 0.46 | 47.69 | 214.33 | 17.10 | 18.60 | 1.50 | 1.39 | 6.25 | T4 625 | |
| CH01365 | 2.44 | 2.83 | 0.40 | 5.18 | 11.42 | 8.00 | 9.30 | 1.30 | 0.15 | 0.33 | T4 625 | |
| CH01366 | 0.85 | 3.87 | 3.02 | 15.36 | 56.34 | 2.80 | 12.70 | 9.90 | 0.45 | 1.64 | T4 625 | |
| CH01366 | Including | 2.07 | 2.87 | 0.79 | 37.95 | 128.87 | 6.80 | 9.40 | 2.60 | 1.11 | 3.76 | T4 625 |
| CH01387 | 0.91 | 1.83 | 0.91 | 11.90 | 33.67 | 3.00 | 6.00 | 3.00 | 0.35 | 0.98 | T4 625 | |
| CH01390 | 0.94 | 1.62 | 0.67 | 5.45 | 50.94 | 3.10 | 5.30 | 2.20 | 0.16 | 1.49 | T4 625 | |
| CH01392 | 1.49 | 1.74 | 0.24 | 3.19 | 70.52 | 4.90 | 5.70 | 0.80 | 0.09 | 2.06 | T4 625 | |
| CH01393 | 0.00 | 0.61 | 0.61 | 8.40 | 49.26 | 0.00 | 2.00 | 2.00 | 0.24 | 1.44 | T4 625 | |
| CH01394 | 3.05 | 3.47 | 0.43 | 154.82 | 990.71 | 10.00 | 11.40 | 1.40 | 4.52 | 28.90 | T4 625 | |
| CH01395 | 1.34 | 2.96 | 1.62 | 8.94 | 86.10 | 4.40 | 9.70 | 5.30 | 0.26 | 2.51 | T4 625 | |
| CH01395 | Including | 1.34 | 2.26 | 0.91 | 12.38 | 125.61 | 4.40 | 7.40 | 3.00 | 0.36 | 3.66 | T4 625 |
| CH01398 | 0.00 | 0.85 | 0.85 | 3.98 | 85.12 | 0.00 | 2.80 | 2.80 | 0.12 | 2.48 | T4 625 | |
| CH01399 | 0.00 | 1.28 | 1.28 | 14.53 | 76.36 | 0.00 | 4.20 | 4.20 | 0.42 | 2.23 | T4 625 | |
| CH01399 | Including | 0.00 | 0.61 | 0.61 | 25.64 | 138.26 | 0.00 | 2.00 | 2.00 | 0.75 | 4.03 | T4 625 |
| CH01401 | 0.00 | 0.15 | 0.15 | 74.05 | 351.18 | 0.00 | 0.50 | 0.50 | 2.16 | 10.24 | T4 625 | |
| CH01401 | 2.41 | 2.56 | 0.15 | 3.39 | 195.72 | 7.90 | 8.40 | 0.50 | 0.10 | 5.71 | T4 625 | |
| CH01402 | 1.37 | 1.74 | 0.37 | 7.61 | 102.64 | 4.50 | 5.70 | 1.20 | 0.22 | 2.99 | T2 750 L | |
| CH01410 | 0.00 | 0.61 | 0.61 | 5.55 | 53.89 | 0.00 | 2.00 | 2.00 | 0.16 | 1.57 | T2 750 L | |
| CH01423 | 1.22 | 1.83 | 0.61 | 6.79 | 52.38 | 4.00 | 6.00 | 2.00 | 0.20 | 1.53 | 750 L | |
| CH01430 | 0.00 | 0.52 | 0.52 | 18.81 | 53.46 | 0.00 | 1.70 | 1.70 | 0.55 | 1.56 | T2 750 L | |
| CH01433 | 0.00 | 0.21 | 0.21 | 8.88 | 8.40 | 0.00 | 0.70 | 0.70 | 0.26 | 0.24 | T2 750 L | |
| CH01436 | 0.67 | 0.82 | 0.15 | 11.69 | 56.81 | 2.20 | 2.70 | 0.50 | 0.34 | 1.66 | T2 750 L | |
| CH01445 | 0.00 | 0.30 | 0.30 | 20.81 | 558.21 | 0.00 | 1.00 | 1.00 | 0.61 | 16.28 | T2 750 L | |
| CH01449 | 0.00 | 0.76 | 0.76 | 1.02 | 127.97 | 0.00 | 2.50 | 2.50 | 0.03 | 3.73 | T4 625 | |
| CH01449 | Including | 0.00 | 0.30 | 0.30 | 2.09 | 197.29 | 0.00 | 1.00 | 1.00 | 0.06 | 5.75 | T4 625 |
| CH01450 | 0.00 | 0.30 | 0.30 | 13.94 | 640.46 | 0.00 | 1.00 | 1.00 | 0.41 | 18.68 | T2 750 L | |
| CH01489 | 0.00 | 1.10 | 1.10 | 7.20 | 358.76 | 0.00 | 3.60 | 3.60 | 0.21 | 10.46 | T2 625 L | |
| CH01490 | 0.00 | 1.22 | 1.22 | 12.38 | 19.34 | 0.00 | 4.00 | 4.00 | 0.36 | 0.56 | T2 625 L | |
| CH01491 | 7.59 | 7.83 | 0.24 | 1.06 | 70.14 | 24.90 | 25.70 | 0.80 | 0.03 | 2.05 | T2 625 L | |
| CH01492 | 1.22 | 5.12 | 3.90 | 0.56 | 74.97 | 4.00 | 16.80 | 12.80 | 0.02 | 2.19 | T2 625 L | |
| CH01492 | Including | 2.50 | 3.72 | 1.22 | 1.06 | 154.17 | 8.20 | 12.20 | 4.00 | 0.03 | 4.50 | T2 625 L |
| CH01501 | 2.44 | 3.05 | 0.61 | 10.18 | 300.79 | 8.00 | 10.00 | 2.00 | 0.30 | 8.77 | T4 625 | |
| CH01502 | 3.05 | 3.96 | 0.91 | 7.85 | 497.81 | 10.00 | 13.00 | 3.00 | 0.23 | 14.52 | T4 625 | |
| CH01503 | 3.05 | 4.57 | 1.52 | 3.50 | 16.52 | 10.00 | 15.00 | 5.00 | 0.10 | 0.48 | T4 625 | |
| CH01505 | 0.00 | 0.18 | 0.18 | 1.51 | 419.92 | 0.00 | 0.60 | 0.60 | 0.04 | 12.25 | T4 625 | |
| CH01507 | 0.00 | 3.66 | 3.66 | 2.06 | 216.71 | 0.00 | 12.00 | 12.00 | 0.06 | 6.32 | T4 625 | |
| CH01507 | Including | 0.00 | 0.30 | 0.30 | 2.54 | 1299.31 | 0.00 | 1.00 | 1.00 | 0.07 | 37.90 | T4 625 |
| CH01507 | and | 0.30 | 1.22 | 0.91 | 2.57 | 304.63 | 1.00 | 4.00 | 3.00 | 0.07 | 8.88 | T4 625 |
| CH01509 | 0.00 | 0.49 | 0.49 | 6.21 | 284.68 | 0.00 | 1.60 | 1.60 | 0.18 | 8.30 | T2 625 L | |
| CH01511 | 0.00 | 0.91 | 0.91 | 4.77 | 15.15 | 0.00 | 3.00 | 3.00 | 0.14 | 0.44 | T2 625 L | |
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Maggie Layman, P.Geo., Vice President, Exploration of Osisko Development, and a "qualified person" within the meaning of NI 43-101.
Quality Assurance (QA) – Quality Control (QC)
All underground face samples are collected by Company geologists from each of the active mining faces, with samples transported by the geologists from Trixie to the on-site Company laboratory located at the Burgin administrative complex. Underground samples are dried, crushed to <10 mm and a 250 g split is taken. The split is pulverized, and a 30 g Fire Assay with gravimetric finish is completed to determine gold and silver grades, reported in oz/short ton and g/t.
The Company's Burgin laboratory is not a certified analytical laboratory, but the facility is managed by a qualified laboratory manager with annual auditing by technical staff. Inter-laboratory check assays using ALS Laboratory as a third-party independent analysis of samples is routinely carried out as part of ongoing Quality Assurance-Quality Control ("QA/QC") work. Certified OREAS QC standards and blanks are inserted at regular intervals in the sample stream to monitor laboratory performance.
True width determination is estimated to be approximately 0.3 m to 2.4 m (1 to 8 ft.) wide for the T2 structure and approximately 3 m to 25 m (10 to 80 ft.) for the T4 mineralized stockwork zone located in the hanging wall of the T2 structure.
About Osisko Development Corp.
Osisko Development Corp. is a premier North American gold development company focused on high-quality past-producing properties located in mining friendly jurisdictions with district scale potential. The Company's objective is to become an intermediate gold producer by advancing its 100%-owned Cariboo Gold Project, located in central BC, Canada, the Tintic Project in the historic East Tintic mining district in Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico. In addition to considerable brownfield exploration potential of these properties, that benefit from significant historical mining data, existing infrastructure and access to skilled labour, the Company's project pipeline is complemented by other prospective exploration properties. The Company's strategy is to develop attractive, long-life, socially and environmentally sustainable mining assets, while minimizing exposure to development risk and growing mineral resources.
For further information, please contact Osisko Development Corp.:
| Sean Roosen | Philip Rabenok |
