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Osisko Development Reports Underground Sampling Results at Trixie, Tintic Project, Including: 4,757.42 g/t Au and 528.90 g/t Ag Over 1.22 m (138.76 oz/t Au and 15.43 oz/t Ag Over 4.00 ft.)

Osisko Development Corp.
Osisko Development Corp.

Figure 1

Tintic Project Area
Tintic Project Area

Figure 2

Trixie Long Section
Trixie Long Section

Figure 3

Trixie long section: detailed area of current development and sampling (625 level)
Trixie long section: detailed area of current development and sampling (625 level)

Figure 4

Trixie long section, grade distribution (625 level)
Trixie long section, grade distribution (625 level)

Figure 5

Cross Section of 75-85, T2 and T4 at Trixie (625 level)
Cross Section of 75-85, T2 and T4 at Trixie (625 level)

MONTREAL, Québec, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Osisko Development Corporation (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce sampling results from its ongoing underground exploration program at its 100%-owned Trixie test mine ("Trixie"), within the Company's wider Tintic Project ("Tintic"), located in the historic East Tintic Mining District in central Utah, U.S.A.

ASSAY HIGHLIGHTS:

Assay highlights include 702 chip samples from 177 mine faces at Trixie. A length-weighted composite for each face Site ID is presented in Table 1 and individual higher-grade samples are also identified within the composites. Samples are collected in feet ("ft.") and assays are reported in grams per tonne ("g/t") gold ("Au") and silver ("Ag"). Conversions to metric and imperial measurements are rounded to two decimal places. Selected assay highlights include:

  • 340.36 g/t Au and 69.94 g/t Ag over 2.19 meters ("m") (9.93 troy ounce per short ton ("oz/t") Au and 2.04 oz/t Ag over 7.20 ft.) including

    • 1,017.01 g/t Au and 209.81 g/t Ag over 0.73 m (29.66 oz/t Au and 6.12 oz/t Ag over 2.40 ft.)

  • 912.28 g/t Au and 5.17 g/t Ag over 2.53 m (26.61 oz/t Au and 0.15 oz/t Ag over 8.30 ft.)

  • 4,186.46 g/t Au over 0.55 m (122.11 oz/t Au over 1.80 ft.)

  • 5,197.77 g/t Au and 6,698.97 g/t Ag over 0.61 m (151.60 oz/t Au and 195.39 oz/t Ag over 2.00 ft.)

  • 1,553.07 g/t Au and 1,224.91 g/t Ag over 1.52 m (45.30 oz/t Au and 35.73 oz/t Ag over 5.00 ft.)

  • 2,873.05 g/t Au and 2,263.41 g/t Ag over 0.82 m (83.80 oz/t Au and 66.02 oz/t Ag over 2.70 ft.)

  • 2,800.11 g/t Au and 315.99 g/t Ag over 2.07 m (81.67 oz/t Au and 9.22 oz/t Ag over 6.80 ft.) including

    • 4,757.42 g/t Au and 528.9 g/t Ag over 1.22 m (138.76 oz/t Au and 15.43 oz/t Ag over 4.00 ft.)

  • 683.53 g/t Au and 42.51 g/t Ag over 1.04 m (19.94 oz/t Au and 1.24 oz/t Ag over 3.40 ft.) including

    • 1,769.33 g/t Au and 102.40 g/t Ag over 0.40 m (51.61 oz/t Au and 2.99 oz/t Ag over 1.30 ft.)

  • 856.54 g/t Au and 608.09 g/t Ag over 0.94 m (24.98 oz/t Au and 17.74 oz/t Ag over 3.10 ft.) including

    • 2,202.85 g/t Au and 1,559.99 g/t Ag over 0.37 m (64.25 oz/t Au and 45.50 oz/t Ag over 1.20 ft.)

  • 482.30 g/t Au and 409.81 g/t Ag over 2.59 m (14.07 oz/t Au and 11.95 oz/t Ag over 8.50 ft.) including

    • 1,277.05 g/t Au and 1,086.13 g/t Ag over 0.98 m (37.25 oz/t Au and 31.68 oz/t Ag over 3.20 ft.)

  • 226.00 g/t Au and 83.40 g/t Ag over 2.50 m (6.59 oz/t Au and 2.43 oz/t Ag over 8.20 ft.) including

    • 903.57 g/t Au and 323.83 g/t Ag over 0.61 m (26.35 oz/t Au and 9.45 oz/t Ag over 2.00 ft.)

  • 193.24 g/t Au and 140.79 g/t Ag over 2.74 m (5.64 oz/t Au and 4.11 oz/t Ag over 9.00 ft.)

  • 367.54 g/t Au and 141.38 g/t Ag over 3.54 m (10.72 oz/t Au and 4.12 oz/t Ag over 11.60 ft.)

  • 2,352.18 g/t Au and 911.10 g/t Ag over 0.55 m (68.61 oz/t Au and 26.57 oz/t Ag over 1.80 ft.)

  • 543.03 g/t Au and 1,005.97 g/t Ag over 2.56 m (15.84 oz/t Au and 29.34 oz/t Ag over 8.40 ft.) including

    • 1,381.60 g/t Au and 2,546.06 g/t Ag over 1.01 m (40.30 oz/t Au and 74.26 oz/t Ag over 3.30 ft.)

  • 386.04 g/t Au and 747.10 g/t Ag over 1.37 m (11.26 oz/t Au and 21.79 oz/t Ag over 4.50 ft.) including

    • 848.82 g/t Au and 1,665.65 g/t Ag over 0.61 m (24.76 oz/t Au and 48.58 oz/t Ag over 2.00 ft.)

EXPLORATION SUMMARY:

  • Current underground test mining activities at Trixie are directed by the exploration sampling and drilling results.

  • Exploration and underground activities are focused around the 625 level at Trixie, over a strike length of 220 m (720 ft.) and a depth extent of 45 m (150 ft) (see Figures 2 and 3).

  • Approximately 20% of the main Trixie area has been explored to date and additional potential for high grade gold exists along strike, at depth down dip and down plunge and along fault zones known to be fluid pathways for gold mineralization (Figure 2).

  • High-grade gold results greater than 100 g/t are present throughout the entire sampled area, on all levels, including recent development (see Figure 3 long section and Figure 4 grade distribution).

  • Exploration cross cuts in the T4 intersect mineralized material up to 25 m (80 ft.) wide and continuous between levels. High-grade gold mineralization similar to that of T2 is also present in this zone (see Figure 5 cross section of T2 and T4 zones).

Chris Lodder, President of Osisko Development, commented, "Tintic continues to deliver high grade sampling results as our exploration efforts expand the area of mineralization in and around Trixie. As we continue to drive development to reach deeper levels of the mine beyond the main 625 level towards the end of 2023, we are very excited to test exploration potential of target areas located adjacent to historic mine workings that have previously not been tested to date. In addition to Trixie, our greater understanding of the controls on the various styles of precious and base metal mineralization opens up years of potential exploration growth and excitement for our shareholders."

Next Steps

Approximately 7,315 m (24,000 ft.) of surface reverse circulation ("RC") drilling and 1,274 m (4,180 ft.)1,898 ft. of underground diamond ("DD") drilling has been completed to November 15, 2022, which, together with the continuous face and back sampling results, will support the completion of an initial mineral resource estimate expected in the first quarter of 2023 (the "Trixie MRE"). The Trixie MRE is expected to encompass the T2, T4 and 75-85 mineral zones only, representing a small footprint adjacent to the 625 underground level, to support near-term underground activities. The Company continues to be impacted by industry-wide delays in assay turnaround time due to bottlenecks in the processing ability of assay labs. As a result, assay results remain pending for a portion of the RC and DD drilling noted above.

The Company's primary focus remains on the completion of the Trixie portal and decline, which is approximately 30% complete to date and is expected to be completed to the 625 underground level by the second quarter of 2023. Once fully complete, the decline will significantly improve access to the underground workings, expand potential underground exploration target areas and provide sufficient flexibility to complete additional programs targeting mineral resource growth beyond the 625 underground level. The Company expects to provide an update on its 2023 exploration program plans in the first quarter of 2023.

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, USA. The T2 and T4 structures at Trixie show multi-ounce gold grades associated with high sulphidation epithermal mineralization, structurally controlled and hosted within quartzites. High grade mineralized material from the T2 and T4 structures is currently being processed via vat leaching on site. The T2 structure is approximately 0.3 m to 2.4 m (1 to 8 ft.) wide and mineralization consists of native Au, and rare Au-Ag – rich telluride minerals with quartz. The T4 is a mineralized stockwork zone ranging from approximately 3 m to 25 m (10 to 80 ft.) and 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 currently defined over 220 m (720 ft.) in strike and reports consistent multi-ounce gold grades along the entire strike length.

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.

For further information on the Tintic Project, please refer to the technical report titled "Technical Report on the Tintic Project, East Tintic Mining District, Utah County, Utah, USA", dated June 10, 2022 (with an effective date of June 7, 2022) and prepared for the Company by Dr. Thomas A. Henricksen, QP, C.P.G. (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) under Osisko Development's issuer profile.

Figure 1 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4616d15a-84a5-45aa-bcab-624da80d969b 

Figure 2 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce4bed63-1665-4242-882d-9bb696df81e3

Figure 3 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1142b9e0-03cc-4afc-adde-9d3c7d47a382

Figure 4 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8897be24-d90f-406b-ad7c-9ce4081d1b4f

Figure 5 accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/edd03e24-6b75-4d04-a764-f2eb31294447 


Table 1: 2022 Length Weighted Assay Composites at Trixie

 

 

METRIC

IMPERIAL

Site 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)

CH1000

 

0.00

1.37

1.37

32.10

45.11

0.00

4.50

4.50

0.94

1.32

CH1000

Including

0.00

0.52

0.52

51.97

85.74

0.00

1.70

1.70

1.52

2.50

CH1000

and

0.52

0.76

0.24

49.06

50.22

1.70

2.50

0.80

1.43

1.46

CH1001

 

0.00

1.83

1.83

1.12

9.09

0.00

6.00

6.00

0.03

0.27

CH1002

 

0.00

1.68

1.68

1.73

1.82

0.00

5.50

5.50

0.05

0.05

CH1002

Including

1.04

1.25

0.21

5.34

14.25

3.40

4.10

0.70

0.16

0.42

CH1003

 

0.00

0.91

0.91

6.45

6.96

0.00

3.00

3.00

0.19

0.20

CH1004

 

0.00

0.91

0.91

7.84

29.72

0.00

3.00

3.00

0.23

0.87

CH1004

Including

0.30

0.43

0.12

37.61

138.43

1.00

1.40

0.40

1.10

4.04

CH1005

 

0.00

1.98

1.98

22.57

18.93

0.00

6.50

6.50

0.66

0.55

CH1005

Including

1.37

1.98

0.61

73.19

55.64

4.50

6.50

2.00

2.13

1.62

CH1006

 

0.00

1.37

1.37

386.04

747.10

0.00

4.50

4.50

11.26

21.79

CH1006

Including

0.76

1.37

0.61

848.82

1,665.65

2.50

4.50

2.00

24.76

48.58

CH1007

 

0.00

2.56

2.56

543.03

1,005.97

0.00

8.40

8.40

15.84

29.34

CH1007

Including

1.55

2.56

1.01

1,381.60

2,546.06

5.10

8.40

3.30

40.30

74.26

CH1008

 

0.00

0.91

0.91

0.59

5.12

0.00

3.00

3.00

0.02

0.15

CH1009

 

0.00

2.74

2.74

57.47

107.82

0.00

9.00

9.00

1.68

3.14

CH1009

Including

2.29

2.74

0.46

340.76

625.85

7.50

9.00

1.50

9.94

18.25

CH1010

 

0.00

1.22

1.22

0.02

13.76

0.00

4.00

4.00

0.00

0.40

CH1011

 

0.00

3.54

3.54

367.54

141.38

0.00

11.60

11.60

10.72

4.12

CH1011

Including

1.77

2.32

0.55

2,352.18

911.10

5.80

7.60

1.80

68.61

26.57

CH1012

 

0.00

1.28

1.28

0.49

16.35

0.00

4.20

4.20

0.01

0.48

CH1013

 

0.00

1.46

1.46

69.57

155.41

0.00

4.80

4.80

2.03

4.53

CH1013

Including

0.70

0.85

0.15

649.74

1,491.10

2.30

2.80

0.50

18.95

43.49

CH1014

 

0.00

1.16

1.16

26.01

215.62

0.00

3.80

3.80

0.76

6.29

CH1014

Including

0.67

0.94

0.27

106.96

900.34

2.20

3.10

0.90

3.12

26.26

CH1015

 

0.00

1.83

1.83

13.86

33.24

0.00

6.00

6.00

0.40

0.97

CH1015

Including

1.01

1.31

0.30

57.35

156.02

3.30

4.30

1.00

1.67

4.55

CH1016

 

0.00

1.52

1.52

5.18

15.64

0.00

5.00

5.00

0.15

0.46

CH1016

Including

0.00

0.30

0.30

24.17

51.32

0.00

1.00

1.00

0.70

1.50

CH1017

 

0.00

1.52

1.52

63.28

106.11

0.00

5.00

5.00

1.85

3.09

CH1017

Including

0.00

0.40

0.40

240.49

391.64

0.00

1.30

1.30

7.01

11.42

CH1018

 

0.00

1.89

1.89

2.22

15.17

0.00

6.20

6.20

0.06

0.44

CH1019

 

0.00

1.55

1.55

0.61

3.16

0.00

5.10

5.10

0.02

0.09

CH1020

 

0.00

1.22

1.22

6.05

4.44

0.00

4.00

4.00

0.18

0.13

CH1021

 

0.00

1.89

1.89

6.43

15.38

0.00

6.20

6.20

0.19

0.45

CH1021

Including

0.52

0.98

0.46

19.51

40.14

1.70

3.20

1.50

0.57

1.17

CH1022

 

0.00

1.83

1.83

6.10

5.07

0.00

6.00

6.00

0.18

0.15

CH1022

Including

0.46

0.76

0.30

31.73

29.27

1.50

2.50

1.00

0.93

0.85

CH1023

 

0.00

1.83

1.83

25.38

40.99

0.00

6.00

6.00

0.74

1.20

CH1023

Including

0.30

1.07

0.76

59.89

67.36

1.00

3.50

2.50

1.75

1.96

CH1025

 

0.00

2.13

2.13

0.01

0.93

0.00

7.00

7.00

0.00

0.03

CH1026

 

0.00

2.26

2.26

2.84

12.21

0.00

7.40

7.40

0.08

0.36

CH1026

Including

0.82

1.43

0.61

9.88

18.31

2.70

4.70

2.00

0.29

0.53

CH1027

 

0.00

3.05

3.05

8.88

48.20

0.00

10.00

10.00

0.26

1.41

CH1027

Including

1.22

1.83

0.61

41.04

174.36

4.00

6.00

2.00

1.20

5.09

CH1028

 

0.00

3.05

3.05

0.78

22.15

0.00

10.00

10.00

0.02

0.65

CH1029

 

0.00

3.05

3.05

0.01

6.13

0.00

10.00

10.00

0.00

0.18

CH1030

 

0.00

3.05

3.05

0.13

2.68

0.00

10.00

10.00

0.00

0.08

CH1031

 

0.00

2.47

2.47

1.17

3.27

0.00

8.10

8.10

0.03

0.10

CH1031

Including

1.83

2.04

0.21

7.99

15.28

6.00

6.70

0.70

0.23

0.45

CH1033

 

0.00

2.77

2.77

0.32

0.01

0.00

9.10

9.10

0.01

0.00

CH1034

 

0.00

1.68

1.68

0.48

3.79

0.00

5.50

5.50

0.01

0.11

CH1035

 

0.00

2.44

2.44

7.43

32.98

0.00

8.00

8.00

0.22

0.96

CH1035

Including

0.00

0.91

0.91

19.30

70.52

0.00

3.00

3.00

0.56

2.06

CH1037

 

0.00

2.13

2.13

0.10

5.06

0.00

7.00

7.00

0.00

0.15

CH1038

 

0.00

2.13

2.13

4.34

17.28

0.00

7.00

7.00

0.13

0.50

CH1038

Including

0.00

0.76

0.76

10.90

34.69

0.00

2.50

2.50

0.32

1.01

CH1049

 

0.00

1.83

1.83

3.99

16.57

0.00

6.00

6.00

0.12

0.48

CH1049

Including

0.61

1.22

0.61

10.76

43.85

2.00

4.00

2.00

0.31

1.28

CH1050

 

0.00

3.66

3.66

0.17

1.30

0.00

12.00

12.00

0.00

0.04

CH1051

 

0.00

1.83

1.83

1.57

5.33

0.00

6.00

6.00

0.05

0.16

CH1052

 

0.00

4.88

4.88

0.66

6.07

0.00

16.00

16.00

0.02

0.18

CH1053

 

0.00

1.89

1.89

0.14

3.07

0.00

6.20

6.20

0.00

0.09

CH1055

 

0.00

1.98

1.98

1.25

1.23

0.00

6.50

6.50

0.04

0.04

CH1056

 

0.00

2.29

2.29

3.37

4.93

0.00

7.50

7.50

0.10

0.14

CH1056

Including

1.65

1.83

0.18

38.45

53.84

5.40

6.00

0.60

1.12

1.57

CH1057

 

0.00

2.32

2.32

1.70

1.29

0.00

7.60

7.60

0.05

0.04

CH1057

Including

1.55

1.71

0.15

18.75

18.14

5.10

5.60

0.50

0.55

0.53

CH1058

 

0.00

2.16

2.16

9.84

46.03

0.00

7.10

7.10

0.29

1.34

CH1058

Including

1.25

2.16

0.91

15.76

50.77

4.10

7.10

3.00

0.46

1.48

CH1059

 

0.00

3.96

3.96

7.52

5.96

0.00

13.00

13.00

0.22

0.17

CH1059

Including

0.00

0.91

0.91

17.35

0.01

0.00

3.00

3.00

0.51

0.00

CH1059

and

3.05

3.35

0.30

15.47

34.24

10.00

11.00

1.00

0.45

1.00

CH1060

 

0.00

2.19

2.19

143.28

122.94

0.00

7.20

7.20

4.18

3.59

CH1060

Including

0.91

1.16

0.24

1,277.05

1,086.13

3.00

3.80

0.80

37.25

31.68

CH1061

 

0.00

1.65

1.65

3.38

35.42

0.00

5.40

5.40

0.10

1.03

CH1062

 

0.00