Osisko Development drills 53 g/t gold over 2.4 metres at Trixie, Utah

Osisko Development Corp. [ODV-TSXV, NYSE] reported underground diamond drilling (DD) results as part of its continuing exploration program at its 100%-owned Trixie test mine within the company’s wider Tintic project, located in the historic East Tintic mining district in central Utah, United States.

Chris Lodder, president, commented: “These drill results from the 2022 underground diamond drilling campaign continue to showcase the continuity of the high-grade mineralization within the T2 structure and wider zones of mineralization within the T4 stockwork zone. Our current underground drill program is building upon these results, and this work is expected to support a future update to the existing Trixie mineral resource estimate.”

Select drill results include 128.50 g/t gold and 220.00 g/t silver over 0.52 metres in hole TUG-625-034 (3.75 troy oz/short ton Au and 6.42 oz/t Ag over 1.70 feet); 17.63 g/t gold and 175.81 g/t silver over 3.96 metres in hole TUG-625-034 (0.51 oz/t gold and 5.13 oz/t silver over 13.00 ft); 7.51 g/t Au and 50.19 g/t Ag over 5.79 metres in hole TUG-625-034 (0.22 oz/t Au and 1.46 oz/t Ag over 19.00 ft); 36.81 g/t Au and 30.89 g/t Ag over 3.35 metres in hole TUG-625-036 (1.07 oz/t Au and 0.90 oz/t Ag over 11.00 ft), including 134.50 g/t Au and 65.00 g/t Ag over 0.61 metres (3.92 oz/t Au and 1.90 oz/t Ag over 2.00 ft). Refer to original press release for more drill results.

The high-grade intercepts disclosed in this news release are located within the T2 structure and T4 stockwork in the central and southern areas of the current Trixie mineral resource estimate. These drilling results will provide valuable infill data to improve the understanding and the confidence level of the mineralized zones defined in the Trixie MRE.

The T2 structure continues to intersect high-grade mineralization, including 53.27 g/t Au and 90.24 g/t Ag over 2.44 metres in hole TUG-625-037 and 30.80 g/t Au and 114.00 g/t Ag over 2.26 metres in hole TUG-625-100.

The T4 stockwork zone returned several anomalous intervals, displaying both high-grade structures analogous to the T2 structure and wider mineralized zones as seen in hole TUG-625-037 that intersected 20.88 g/t Au and 45.08 g/t Ag over 5.64 metres and 42.00 g/t Au and 60.40 g/t Ag over 0.76 metres (including 154.00 g/t Au and 397.00 g/t Ag over 0.46 meres).

Exploration next steps: The company currently has two underground diamond drill rigs in operation at Trixie conducting exploration activities. Follow-up exploration targets include drill testing of the contact beneath the Ophir shale cap rock, where mineralization appears to be concentrated, as well as testing the 75-85 structure at depth.

In 2022, the company completed 28 surface reverse circulation (RC) drill holes near Trixie totalling approximately 8,753 m (28,718 ft) and 66 underground DD holes in the 625 level at Trixie totalling approximately 2,985 m (9,796 ft). To date, assays have been received for eight RC drill holes and 64 DD holes.

The Trixie test mine is one of several gold and base metal targets within the larger Tintic project consisting of greater than 17,000 acres of patented mining claims and mineral leases within the historic East Tintic mining district of central Utah. 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 gold and rare gold-silver-rich telluride minerals with quartz. The T4 is a mineralized stockwork zone located in the hangingwall of the T2 and is composed of gold-silver-rich mineralization in host rock quartzite with quartz-barite-sulphosalt stockwork veining. Mineralization reports consistent multiounce gold grades along the entire strike length.