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Osisko Development Expands and Delineates New High Grade Vein Corridors on Barkerville Mountain’s Lowhee Zone

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Osisko Development Expands and Delineates New High Grade Vein Corridors on Barkerville Mountain’s Lowhee Zone






Osisko Development Corp. (TSX-V: ODV) is pleased to announce drilling results from the 200,000-meter 2021 exploration and category conversion drill program campaign at its Cariboo Gold Project in central British Columbia. A total of ten diamond drill rigs are currently active on the Cariboo Project.


Lowhee Zone Overview


  • Two rigs currently operating on Lowhee Zone located on Barkerville Mountain.
  • Recent results include holes BM-21-001 to BM-21-018.
  • Mineralized vein corridors are currently defined along 650 meters strike by 350 meters in the sandstone to a depth of 275 meters and is open in all directions.
  • Lowhee is interpreted to be the strike extension of Cow Mountain as shown in recent results.
  • Based on the Mineral Resource Estimate dated October 5, 2020, at a cut-off grade of 2.10 g/t Au, the Lowhee Zone contains 46,000 oz in the indicated category and 105,000 oz Au in the inferred category based on only 23 drill holes.
  • A total of 73 drill holes have since been drilled in the Lowhee Zone.
  • Detailed drilling results, a drill hole location plan map and vertical long section is presented at the end of this release.

Recent Drilling Highlights:


  • 13.22 g/t Au over 2.60 meters in hole BM-21-001
  • 6.14 g/t Au over 6.55 meters in hole BM-21-002 including
  • 43.70 g/t Au over 0.60 meter in hole BM-21-002
  • 70.90 g/t Au over 1.00 meter in hole BM-21-013
  • 6.26 g/t Au over 7.60 meters in hole BM-21-015
  • 7.97 g/t Au over 4.05 meters in hole BM-21-016 including
  • 58.80 g/t Au over 0.50 meter in hole BM-21-016
  • 41.39 g/t Au over 1.10 meters in hole BM-21-017 including
  • 70.20 g/t Au over 0.60 meter in hole BM-21-017


Chris Lodder, President of Osisko Development commented, “With these initial drill results, Lowhee extends the Cariboo Gold Project resource footprint to beyond 4 km of strike length demonstrating near continuous vein corridor style mineralization from Mosquito Creek to Lowhee, open in along strike and at depth.”


Mineralized quartz veins on Cariboo are overall sub-vertical dip and northeast strike. Vein corridors are defined as a high-density network of mineralized quartz veins within the axis of the last folding event’s folds and hosted within a brittle meta-sandstone or calcareous meta-sandstone. Vein corridors are modelled at a minimum thickness of 2 meters and average about 4.5 meters true width. Individual mineralized veins within these corridors have widths varying from centimeters to several meters and strike lengths from a few meters to over 50 meters. These corridors have been defined from surface to a vertical depth averaging 300 meters and remain open for expansion at depth and along strike. Gold grades are intimately associated with quartz vein-hosted pyrite as well as pyritic, intensely silicified wall rock haloes in close proximity to the veins.


True widths are estimated to be 60% to 75% of reported core length intervals. Intervals not recovered by drilling were assigned zero grade. Top cuts have not been applied to high grade assays. Complete assay highlights are presented in Table 1, drill hole locations are listed in Table 2.


A photo accompanying this announcement is available at:


Figure 1: Cariboo Deposit Areas with drill locations.


A photo accompanying this announcement is available at:


Figure 2: Lowhee detail area with drill intercept highlights


A photo accompanying this announcement is available at:


Figure 3: Lowhee Zone Long Section


Qualified Persons


Per National Instrument 43-101 Standards of Disclosure for Mineral Projects, Maggie Layman, P.Geo. Vice President Exploration of Osisko Development Corp., is a Qualified Person and has prepared, validated, and approved the technical and scientific content of this news release.


Quality Assurance – Quality Control


Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at a secured facility in Wells, BC. Numbered security tags are applied to lab shipments for chain of custody requirements. Quality control samples are inserted at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QAQC program was designed and approved by Lynda Bloom, P.Geo. of Analytical Solutions Ltd.


Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, and 250 grams is pulverized. Analysis for gold is by 50g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000g screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).


About Osisko Development Corp.


Osisko Development Corp. is well-capitalized and uniquely positioned as a premier gold development company in North America to advance the Cariboo Gold Project and other Canadian and Mexican properties, with the objective of becoming the next mid-tier gold producer. The Cariboo Gold Project, located in central British Columbia, is Osisko Development’s flagship asset with measured and indicated resources of 21.44 Mt at 4.6 Au g/t for a total of 3.2 million ounces of gold and inferred resource of 21.69 Mt at 3.9 Au g/t for a total of 2.7 million ounces of gold (see NI 43-101 Technical Report for resource October 5th, 2020). The considerable exploration potential at depth and along strike distinguishes the Cariboo Gold Project relative to other development assets as does the historically low, all-in discovery costs of US $19 per ounce. The Cariboo Gold Project is advancing through permitting as a 4,750 tonnes per day underground operation with a feasibility study on track for completion in the second half of 2021. Osisko Development’s project pipeline is complemented by potential near-term production targeted from the San Antonio gold project, located in Sonora Mexico and early exploration stage properties including the Coulon Project and James Bay Properties located in Québec as well as the Guerrero Properties located in Mexico. Osisko Development began trading on the TSX Venture Exchange on December 2, 2020.


Posted May 19, 2021

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