Osisko Development samples 443.64 g/t gold over 1.19 metres at Tintic, Utah

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Osisko Development Corp. [TSXV, NYSE-ODV] reported drilling and underground chip sampling results from new development areas as part of its 2023 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.

Underground chip sample assay highlights: Assay highlights include underground chip samples from 79 new development faces at Trixie. Of these, 35 faces had samples with greater than one gram per tonne gold or greater than 50 g/t silver values. The remaining chip samples returned no significant assays. Selected assay highlights include 30.85 g/t Au over 1.52 metres in CH01593 (0.90 troy ounce per short ton Au over five feet); 17.93 g/t Au and 128.90 g/t Ag over 1.52 m in CH01594 (0.52 oz/t Au and 3.76 oz/t Ag over five ft); 5.07 g/t Au over 7.01 m in CH01604 (0.15 oz/t Au over 23 ft), including 16.80 g/t Au over 1.52 m in CH01604 (0.49 oz/t Au over five ft); 443.64 g/t Au over 1.19 m in CH01632 (12.94 oz/t Au over 3.90 ft); 23.25 g/t Au and 25.34 g/t Ag over 1.46 m in CH01634 (0.68 oz/t Au and 0.74 oz/t Ag over 4.80 ft).

Chip samples were collected in new development areas in the face and walls of exploration crosscuts to explore along all domains of the Trixie deposit on the 625 Level, to the north toward the Trixie fault and to the south toward the Sioux Ajax fault.

The sampling and drilling results provide support that target areas to the north of Trixie and to the south down plunge of the T2 structure are mineralized and warrant further follow-up exploration drilling and sampling.

Drill assay highlights: This news release includes assays from eight underground diamond drill (DD) holes. Select assay highlights include 8.32 g/t Au and 501 g/t Ag over 1.52 m in hole TRXU-DD-23-055 (0.24 oz/t Au and 14.61 oz/t Ag over five ft); 9.43 g/t Au and 239 g/t Ag over 1.22 m in hole TRXU-DD-23-056 (0.28 oz/t Au and 6.97 oz/t Ag over four ft); 9.04 g/t Au and 323 g/t Ag over 1.52 m in hole TRXU-DD-23-057 (0.26 oz/t Au and 9.42 oz/t Ag over five ft), including 12.53 g/t Au and 169 g/t Ag over 0.76 m in hole TRXU-DD-23-057 (0.37 oz/t Au and 4.93 oz/t Ag over 2.50 ft); 7.46 g/t Au and 301.52 g/t Ag over 2.77 m in hole TRXU-DD-23-059 (0.22 oz/t Au and 8.79 oz/t Ag over 9.10 ft), including 14.41 g/t Au and 570 g/t Ag over 0.91 m in hole TRXU-DD-23-059 (0.42 oz/t Au and 16.63 oz/t Ag over three ft).

Drill results summary: In 2023, the company completed a total of 6,447 metres (21,151 ft) of underground drilling in 73 DD holes at Trixie. To date, assays have been received for 59 DD holes, with assays pending for the remaining holes.

One diamond drill rig is currently active underground testing a copper-gold porphyry target, Trixie West, below the Trixie deposit.

Approximately 25% of the drilling to date consists of delineation of domains within the area of the current Trixie mineral resource estimate (as defined herein) and 75% is exploration drilling adjacent to the area of the Trixie MRE, including stepouts down dip, down plunge and along strike testing for mineralized structures.

The focus of these recent holes was to test for mineralization along one of the priority target areas south on strike from the known T2 domain, toward the Sioux Ajax fault.

A new mineral resource estimate for the Trixie deposit is expected to be completed once all assay results from the 2023 exploration program have been received and surface and underground mapping data has been integrated.

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, U.S. 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 located in the hangingwall of the T2 and comprises 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.

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