The Prospector News

Osisko Development Intersects 15.90 g/t Gold Over 8.60 Meters on Island Mountain at Cariboo

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Development Intersects 15.90 g/t Gold Over 8.60 Meters on Island Mountain at Cariboo

 

 

 

 

 

73,400 meters of assay results pending at Cariboo

 

 

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 at Cariboo.

 

Drilling Summary

 

  • 85,000 meters have been drilled on Cariboo in 2021 designed to infill and expand known vein corridors. Assay results have been reported for the first 11,600 meters. The results for the remaining 73,400 meters are pending.
  • Recent assay results include holes IM-21-012 to IM-21-023.
  • Drillhole IM-21-014 tested both Shaft and Valley Zones, intersected multiple mineralized vein corridors in both zones, and within the Jack of Clubs fault. This shows continuous mineralization and expansion potential including 4.74 g/t Au over 5.45 meters in the Shaft Zone, 10.15 g/t Au over 0.85 meters in the Jack of Clubs Fault, and 14.64 g/t Au over 7.20 meters in the Valley Zone. (see attached cross section).
  • Mosquito Creek assays included 15.90 g/t Au over 8.60 meters in hole IM-21-023 with multiple high-grade samples.
  • Detailed drilling results, a drill hole location plan map and vertical cross section are presented at the end of this release.

 

Recent Drilling Highlights:

  • 15.89 g/t Au over 6.00 meters in hole IM-21-013 including
  • 79.50 g/t Au over 1.10 meters
  • 14.64 g/t Au over 7.20 meters in hole IM-21-014 including
  • 83.80 g/t Au over 0.80 meter
  • 7.66 g/t Au over 4.25 meters in hole IM-21-017
  • 4.63 g/t Au over 6.60 meters in hole IM-21-017 including
  • 31.10 g/t Au over 0.90 meter
  • 56.35 g/t Au over 2.50 meters in hole IM-21-018 including
  • 98.00 g/t Au over 1.10 meters
  • 6.25 g/t Au over 5.30 meters in hole IM-21-020
  • 9.49 g/t Au over 10.75 meters in hole IM-21-020
  • 15.90 g/t Au over 8.60 meters in hole IM-21-023 including
  • 42.20 g/t Au over 0.75 meter

 

Chris Lodder, President of Osisko Development commented, “Drilling at Mosquito Creek continues to discover and define more high-grade vein corridor mineralization, and by targeting Shaft and Valley concurrently, we have discovered new mineralization between the known deposits showing excellent continuity between the zones. Assay turnaround time is decreasing, and thousands of assays will be reported in the near term.”

 

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 2.0 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.

 

Figure 1: Cariboo deposit areas with drill locations is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/b7af6419-9e3f-498b-9e1f-b0372a30b205

 

Figure 2: Mosquito Creek Select drilling highlights is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/690a2365-1198-4aeb-befe-1b4cc840c9cc

 

Figure 3: Shaft Zone select drilling highlights is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c851d4fd-fab8-4954-b3f2-506947c3ecbb

 

Figure 4: Shaft Zone and Valley Zone cross section is available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/87d2f056-ed55-422d-9ae6-8e47b570f96a

 

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 under the symbol “ODV” on December 2, 2020.

 

Table 1: Cariboo Gold Project 2021 Length Weighted Drill Hole Gold Composites

HOLE ID   FROM M TO (M) LENGTH (M) AU G/T TARGET
IM-21-012 No significant assays       MOSQUITO
IM-21-013   47.55 48.15 0.60 28.70 MOSQUITO
    102.00 102.80 0.80 35.80  
    130.50 136.50 6.00 15.89  
  INCLUDING 133.50 134.60 1.10 79.50  
    158.50 159.60 1.10 3.10  
    223.00 224.00 1.00 8.86  
    245.45 247.60 2.15 8.80  
    263.50 264.15 0.65 6.43  
IM-21-014   151.35 152.65 1.30 6.92 SHAFT
  INCLUDING 151.35 152.00 0.65 11.50  
    201.90 202.50 0.60 15.20  
    208.90 214.35 5.45 4.74  
  INCLUDING 208.90 210.00 1.10 8.10  
  AND 210.00 210.60 0.60 5.83  
  AND 213.75 214.35 0.60 17.75  
    266.00 266.85 0.85 10.15  
    283.25 287.00 3.75 3.73  
  INCLUDING 286.40 287.00 0.60 15.20  
    336.20 336.85 0.65 3.68  
    345.50 348.50 3.00 3.58  
  INCLUDING 346.90 347.70 0.80 7.22  
  AND 347.70 348.50 0.80 5.51  
    361.25 368.45 7.20 14.64 VALLEY
  INCLUDING 361.25 361.75 0.50 20.90  
  AND 364.10 364.90 0.80 83.80  
  AND 364.90 365.55 0.65 33.90  
  AND 367.85 368.45 0.60 8.42  
    394.15 397.80 3.65 4.59  
  INCLUDING 394.15 395.00 0.85 14.50  
  AND 397.10 397.80 0.70 4.64  
    416.20 416.85 0.65 6.17  
IM-21-015   119.60 120.55 0.95 7.61 MOSQUITO
IM-21-016   107.30 110.00 2.70 2.79 SHAFT
  INCLUDING 109.50 110.00 0.50 5.98  
    192.85 193.35 0.50 3.64  
    264.50 265.00 0.50 7.19  
IM-21-017   23.00 27.25 4.25 7.66 MOSQUITO
  INCLUDING 23.00 23.50 0.50 15.15  
  AND 23.50 24.00 0.50 28.40  
  AND 24.50 25.60 1.10 7.38  
    51.30 57.90 6.60 4.63  
  INCLUDING 57.00 57.90 0.90 31.10  
    134.80 136.00 1.20 20.90  
    190.00 190.50 0.50 8.92  
    219.80 220.30 0.50 11.35  
    345.50 346.00 0.50 7.70  
    360.95 361.50 0.55 3.68  
    411.50 412.25 0.75 3.05  
    416.70 417.50 0.80 6.53  
    469.50 470.00 0.50 4.09  
    496.75 497.25 0.50 40.00  
    608.00 609.00 1.00 3.55  
    666.00 666.50 0.50 10.15  
IM-21-018   201.50 204.00 2.50 56.35 MOSQUITO
  INCLUDING 201.50 202.00 0.50 57.20  
  AND 202.00 203.10 1.10 98.00  
    242.00 242.60 0.60 5.37  
IM-21-019   14.50 15.05 0.55 19.45 MOSQUITO
    69.50 70.00 0.50 18.75  
IM-21-020   47.20 52.50 5.30 6.25 SHAFT
  INCLUDING 47.20 47.70 0.50 16.50  
  AND 51.50 52.50 1.00 23.80  
    242.00 242.55 0.55 9.47  
    307.50 308.45 0.95 16.70  
    350.75 361.50 10.75 9.49  
  INCLUDING 350.75 351.80 1.05 24.10  
  AND 354.45 355.75 1.30 18.85  
  AND 357.50 358.40 0.90 5.05  
  AND 360.10 361.50 1.40 32.00  
IM-21-021   22.40 23.05 0.65 6.31 SHAFT
    32.05 33.20 1.15 4.48  
    67.75 68.30 0.55 4.83  
    81.00 81.75 0.75 5.37  
IM-21-022   135.20 135.70 0.50 3.15 MOSQUITO
IM-21-023   141.00 142.00 1.00 5.62 MOSQUITO
    189.00 197.60 8.60 15.90  
  INCLUDING 189.00 189.50 0.50 8.68  
  AND 190.00 190.50 0.50 24.70  
  AND 192.25 193.00 0.75 42.20  
  AND 193.00 194.00 1.00 17.75  
  AND 194.00 195.00 1.00 24.10  
  AND 196.00 197.00 1.00 28.10  
  AND 197.00 197.60 0.60 26.60  
    202.50 204.45 1.95 3.76  
  INCLUDING 202.50 203.00 0.50 5.09  
  AND 204.35 204.45 0.10 32.00  

 

 

Table 2: Drill Hole Locations and Orientations

 

HOLE ID EASTING NORTHING ELEV DIP AZI DEPTH (M)
IM-21-012 593542 5885327 1407 -58 300 108
IM-21-013 593903 5884907 1400 -52 323 285
IM-21-014 594915 5884185 1294 -53 99 550
IM-21-015 593542 5885328 1408 -66 280 144
IM-21-016 594254 5884725 1410 -50 111 375
IM-21-017 593903 5884908 1400 -50 334 690
IM-21-018 593689 5885194 1396 -45 142 261
IM-21-019 593542 5885329 1408 -55 276 102
IM-21-020 594914 5884185 1293 -59 133 396
IM-21-021 594254 5884724 1410 -53 119 375
IM-21-022 593543 5885328 1409 -71 318 159
IM-21-023 593688 5885194 1395 -50 143 300

 

Posted June 15, 2021

Share this news article

MORE or "UNCATEGORIZED"


BHP increases all-cash offer for Noront to C$0.75 per share

Noront recommends shareholders accept improved BHP offer &... READ MORE

October 20, 2021

NioBay Metals comes to an agreement with SOQUEM for the sale of properties

NioBay Metals Inc. (TSX-V: NBY) (OTCQB: NBYCF), a company focused... READ MORE

October 20, 2021

Signature Resources Drills 5.44 g/t over 6.0 Metres; Including 17.20 g/t over 1.0 Metre at Its Lingman Lake Project

Signature Resources Ltd. (TSX-V: SGU) (OTCQB: SGGTF) (FSE: 3S3) i... READ MORE

October 20, 2021

Santacruz Silver Reports Q3 2021 Production of 872,913 Silver Equivalent Ounces

Santacruz Silver Mining Ltd. (TSX-V: SCZ) reports its operating r... READ MORE

October 20, 2021

Monarch Mining Intersects Significant Gold Mineralization 1 km South of the McKenzie Break Deposit

Results from McKenzie Break’s regional exploration drilling pro... READ MORE

October 20, 2021

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2021 The Prospector News