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Osisko Development Intercepts 443.64 G/T Gold Over 1.19 Meters in Underground Sampling at Trixie, Tintic Project

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Osisko Development Intercepts 443.64 G/T Gold Over 1.19 Meters in Underground Sampling at Trixie, Tintic Project

 

 

 

 

 

Osisko Development Corp. (NYSE: ODV) (TSX-V: ODV) is pleased to announce 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, U.S.A.

 

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 1.0 grams per tonne gold or greater than 50.0 g/t silver values (see Table 1). The remaining chip samples returned no significant assays. Selected assay highlights include:

  • 30.85 g/t Au over 1.52 meters  in CH01593 (0.90 troy ounce per short ton  Au over 5.00 ft)
  • 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 5.00 ft)
  • 5.07 g/t Au over 7.01 m in CH01604 (0.15 oz/t Au over 23.00 ft) including
    • 16.80 g/t Au over 1.52 m in CH01604 (0.49 oz/t Au over 5.00 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 SAMPLE SUMMARY

  • 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 towards the Trixie Fault and to the south towards the Sioux Ajax Fault (see Figure 2)
  • 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 holes (see Table 2). Select assay highlights include:

  • 8.32 g/t Au and 501.00 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 5.00 ft)
  • 9.43 g/t Au and 239.00 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 4.00 ft)
  • 9.04 g/t Au and 323.00 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 5.00 ft) including
    • 12.53 g/t Au and 169.00 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 570.00 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 3.00 ft)

 

DRILL RESULTS SUMMARY

  • In 2023, the company completed a total of 6,447 m (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 MRE (as defined herein) and 75% is exploration drilling adjacent to the area of the Trixie MRE, including step outs 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, towards the Sioux Ajax fault (see Figure 2).
  • 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.

 

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 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 current MRE for the Trixie deposit 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. 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 and is available electronically on SEDAR+ (www.sedarplus.ca) 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: Drill and Chip Sample Plan Map with assay highlights

 

 

Figure 3: Trixie Long Section

 

 

Table 1: Face Chip Sample Length Weighted Assay Composites at Trixie

 

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)
CH01582   0.61 1.01 0.40 1.03 12.10 2.00 3.30 1.30 0.03 0.35
CH01586   4.57 5.18 0.61 0.72 271.68 15.00 17.00 2.00 0.02 7.92
CH01589   2.90 3.35 0.46 0.72 362.29 9.50 11.00 1.50 0.02 10.57
CH01593   3.05 4.57 1.52 30.85 0.00 10.00 15.00 5.00 0.90 0.00
CH01593   22.86 23.77 0.91 6.62 36.82 75.00 78.00 3.00 0.19 1.07
CH01594   3.05 4.57 1.52 1.20 0.00 10.00 15.00 5.00 0.04 -0.10
CH01594   25.91 27.43 1.52 17.93 128.87 85.00 90.00 5.00 0.52 3.76
CH01596   2.32 2.74 0.43 2.61 111.69 7.60 9.00 1.40 0.08 3.26
CH01599   0.00 1.52 1.52 4.25 23.28 0.00 5.00 5.00 0.12 0.68
CH01603   3.66 3.96 0.30 0.58 65.44 12.00 13.00 1.00 0.02 1.91
CH01604   0.00 7.01 7.01 5.07 0.00 0.00 23.00 23.00 0.15 0.00
CH01604 including 0.00 1.52 1.52 16.80 0.00 0.00 5.00 5.00 0.49 0.00
CH01605   2.38 2.87 0.49 0.58 55.45 7.80 9.40 1.60 0.02 1.62
CH01605   4.27 5.09 0.82 1.41 7.30 14.00 16.70 2.70 0.04 0.21
CH01606   0.00 9.14 9.14 3.20 22.95 0.00 30.00 30.00 0.09 0.67
CH01606 including 7.62 9.14 1.52 3.09 137.71 25.00 30.00 5.00 0.09 4.02
CH01607   0.00 1.77 1.77 2.53 10.79 0.00 5.80 5.80 0.07 0.31
CH01609   2.44 3.35 0.91 4.63 54.41 8.00 11.00 3.00 0.13 1.59
CH01610   0.00 1.46 1.46 6.95 127.73 0.00 4.80 4.80 0.20 3.73
CH01610   0.00 0.49 0.49 10.15 69.15 0.00 1.60 1.60 0.30 2.02
CH01612   0.00 1.52 1.52 12.88 59.97 0.00 5.00 5.00 0.38 1.75
CH01612 including 1.10 1.52 0.43 17.38 78.64 3.60 5.00 1.40 0.51 2.29
CH01617   0.00 1.52 1.52 12.68 0.00 0.00 5.00 5.00 0.37 0.00
CH01621   0.91 2.44 1.52 0.65 70.66 3.00 8.00 5.00 0.02 2.06
CH01625   1.52 4.57 3.05 3.73 45.57 5.00 15.00 10.00 0.11 1.33
CH01625 including 1.52 1.83 0.30 15.74 198.56 5.00 6.00 1.00 0.46 5.79
CH01627   6.55 7.01 0.46 0.58 52.52 21.50 23.00 1.50 0.02 1.53
CH01628   0.00 3.05 3.05 3.86 16.04 0.00 10.00 10.00 0.11 0.47
CH01628 including 0.00 1.52 1.52 6.51 16.11 0.00 5.00 5.00 0.19 0.47
CH01629   2.53 3.05 0.52 0.72 67.17 8.30 10.00 1.70 0.02 1.96
CH01629   4.57 4.72 0.15 0.24 55.42 15.00 15.50 0.50 0.01 1.62
CH01631   0.00 1.52 1.52 9.29 14.78 0.00 5.00 5.00 0.27 0.43
CH01632   0.00 1.19 1.19 443.64 0.00 0.00 3.90 3.90 12.94 0.00
CH01633   0.00 1.43 1.43 2.95 3.43 0.00 4.70 4.70 0.09 0.10
CH01634   0.00 1.46 1.46 23.25 25.34 0.00 4.80 4.80 0.68 0.74
CH01634 including 0.00 0.61 0.61 31.27 39.94 0.00 2.00 2.00 0.91 1.16
CH01635   0.00 1.52 1.52 1.20 0.00 0.00 5.00 5.00 0.04 0.00
CH01636   5.03 5.36 0.34 0.72 430.99 16.50 17.60 1.10 0.02 12.57
CH01637   8.60 9.14 0.55 2.95 6.75 28.20 30.00 1.80 0.09 0.20
CH01638   0.00 0.73 0.73 0.48 53.72 0.00 2.40 2.40 0.01 1.57
CH01638   2.26 2.99 0.73 1.20 92.08 7.40 9.80 2.40 0.04 2.69
CH01644   0.61 1.52 0.91 1.10 0.00 2.00 5.00 3.00 0.03 0.00
CH01645   0.00 1.52 1.52 1.65 0.00 0.00 5.00 5.00 0.05 0.00
CH01646   0.00 1.52 1.52 1.23 6.34 0.00 5.00 5.00 0.04 0.18
CH01646   7.62 9.14 1.52 1.37 134.93 25.00 30.00 5.00 0.04 3.94
CH01647   1.52 3.05 1.52 7.45 74.05 5.00 10.00 5.00 0.22 2.16
CH01647 including 1.98 2.32 0.34 12.23 91.67 6.50 7.60 1.10 0.36 2.67
CH01648   1.52 3.05 1.52 2.54 9.08 5.00 10.00 5.00 0.07 0.26
CH01648   4.57 6.10 1.52 1.27 10.32 15.00 20.00 5.00 0.04 0.30
CH01652   0.00 1.52 1.52 1.71 43.88 0.00 5.00 5.00 0.05 1.28
CH01652   2.13 3.05 0.91 0.41 62.15 7.00 10.00 3.00 0.01 1.81

 

Table 2: Drilling Length Weighted Assay Composites at Trixie

 

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) Comments
TRXU-DD-23-052   99.97 101.50 1.52 1.80 12.55 328.00 333.00 5.00 0.05 0.37 Exploration
TRXU-DD-23-053   51.36 53.04 1.68 3.71 41.27 168.50 174.00 5.50 0.11 1.20 Exploration
TRXU-DD-23-054 No Significant Assays                     Exploration
TRXU-DD-23-055   37.19 40.23 3.05 4.75 264.24 122.00 132.00 10.00 0.14 7.71 Exploration
TRXU-DD-23-055 including 38.71 40.23 1.52 8.32 501.00 127.00 132.00 5.00 0.24 14.61 Exploration
TRXU-DD-23-055   49.56 52.30 2.74 3.26 263.10 162.60 171.60 9.00 0.10 7.67 Exploration
TRXU-DD-23-056   87.48 88.70 1.22 9.43 239.00 287.00 291.00 4.00 0.28 6.97 Exploration
TRXU-DD-23-057   45.72 47.24 1.52 9.04 323.00 150.00 155.00 5.00 0.26 9.42 Exploration
TRXU-DD-23-057 including 45.72 46.48 0.76 12.53 169.00 150.00 152.50 2.50 0.37 4.93 Exploration
TRXU-DD-23-058 No Significant Assays                     Exploration
TRXU-DD-23-059   35.97 38.74 2.77 7.46 301.52 118.00 127.10 9.10 0.22 8.79 Exploration
TRXU-DD-23-059 including 37.49 38.40 0.91 14.41 570.00 123.00 126.00 3.00 0.42 16.63 Exploration
TRXU-DD-23-059 and 38.40 38.74 0.34 11.60 88.56 126.00 127.10 1.10 0.34 2.58 Exploration

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.

 

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.

 

Samples are collected in feet and assays are reported in grams per tonne and troy ounce per short ton gold and silver. Conversions to metric and imperial measurements are rounded to two decimal places.

 

Quality Assurance  – Quality Control

 

All drill core and exploration samples are dispatched to SGS Canada’s laboratory in Burnaby, British Columbia for offsite sample preparation and analysis. Samples are assigned a unique sample ID. All geological and sampling information is entered into Datamine Fusion database. Core is sawn in half, and half is sampled. Certified standards and blanks are inserted into all sample dispatches. Samples are collected by Old Dominion Transportation and dispatched to SGS Canada’s laboratory in Burnaby, British Columbia. Sample submission forms accompany the samples, and digital copies are emailed to SGS Canada.

 

All core sample preparation is completed by SGS Canada, including drying, crushing, and pulverizing of samples. Analytical assays include gold by 30 gram fire assay with AAS finish (GO_FAA30V10), and gold overlimits by fire assay with gravimetric finish (GO_FAG30V). Multielement analysis (including silver) is by four-acid digest with ICP-AES/ICP-MS finish (GE_ICM40Q12). The pulps are returned to Osisko Development and coarse rejects are disposed after 90 days. Assays are reported to Osisko Development and then loaded into Datamine Fusion. Quality Assurance-Quality Control samples are checked, and assays are merged with sample information for future reporting.

 

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 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, 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 and 1.5 m to 3 m (5 to 9 ft.) for the 75-85 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 B.C., 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.

 

Posted December 21, 2023

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