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Osisko Development Intersects 2.14 g/t Au Over 21.65 Meters and 1.02 g/t Au Over 39.90 Meters at Sapuchi

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Osisko Development Intersects 2.14 g/t Au Over 21.65 Meters and 1.02 g/t Au Over 39.90 Meters at Sapuchi

 

 

 

 

 

Osisko Development Corp. (TSX-V-ODV) is pleased to announce drilling results from the 2021 exploration and category conversion drill program campaign at its San Antonio Gold Project in Sonora State, Mexico.

 

Summary

 

  • The San Antonio Gold Project is an iron oxide copper gold style deposit with zones of oxide, transition, and sulphides on three main target areas: Sapuchi, Golfo de Oro and California.
  • A total of 27,000 meters consisting of 156 holes have been drilled thus far in 2021. The objective of the drill program is to conduct exploration and resource drilling at a spacing of 25 meters and historic drilling validation for the three main target areas (Figure 1).
  • The first 41 holes from the Sapuchi target are presented in this news release and include SP-DD-21-001 to SP-DD-21-060 inclusive (Figure 2).
  • The Sapuchi gold mineralization is characterized by hydrothermal breccia that forms an approximately 3,000 m long east-northeast trending mineralization corridor with intense sericite and chlorite alteration in the mineralized zone. The mineralization is intrusion related within host sedimentary rocks.
  • DD-21-038 intersected 21.65 meters of oxide assaying 2.14 g/t Au, extending the oxide an additional 15 meters at depth.
  • DD-21-019 intersected 1.02 g/t Au over 39.90 meters in a newly discovered sulphide zone at 167.4 meters depth indicating significant exploration potential.
  • Sapuchi target has a strike length of 700 meters and is open in all directions, assay highlights are presented in the list below and shown on Figure 2.
  • Detailed drilling results are presented in Table 1, drillhole locations are presented in Table 2, and drillhole cross sections are presented in Figures 2 to 5.

 

 

Assay Highlights

 

  • 2.16 g/t Au and 2.90 g/t Ag over 12.50 meters in hole SP-DD-21-001 including
  • 11.45 g/t Au and 13.80 g/t Ag over 1.10 meters
  • 2.37 g/t Au and 2.02 g/t Ag over 10.25 meters in hole SP-DD-21-006
  • 1.01 g/t Au and 11.75 g/t Ag over 17.70 meters in hole SP-DD-21-006
  • 1.50 g/t Au and 3.06 g/t Ag over 13.85 meters in hole SP-DD-21-007
  • 1.58 g/t Au and 32.51 g/t Ag over 9.45 meters in hole SP-DD-21-007
  • 1.08 g/t Au and 2.69 g/t Ag over 20.45 meters in hole SP-DD-21-008
  • 1.59 g/t Au and 3.68 g/t Ag over 22.15 meters in hole SP-DD-21-008
  • 2.94 g/t Au and 3.98 g/t Ag over 12.65 meters in hole SP-DD-21-008 including
  • 44.40 g/t Au and 54.40 g/t Ag over 0.70 meter
  • 2.24 g/t Au and 14.32 g/t Ag over 9.00 meters in hole SP-DD-21-010
  • 0.72 g/t Au and 4.13 g/t Ag over 20.85 meters in hole SP-DD-21-011
  • 1.02 g/t Au and 3.90 g/t Ag over 39.90 meters in hole SP-DD-21-019
  • 1.60 g/t Au and 3.09 g/t Ag over 19.30 meters in hole SP-DD-21-029
  • 1.30 g/t Au and 3.06 g/t Ag over 22.00 meters in hole SP-DD-21-034
  • 2.14 g/t Au and 3.05 g/t Ag over 21.65 meters in hole SP-DD-21-038
  • 1.52 g/t Au and 13.77 g/t Ag over 29.20 meters in hole SP-DD-21-040
  • 1.80 g/t Au and 1.19 g/t Ag over 11.85 meters in hole SP-DD-21-047
  • 2.19 g/t Au and 5.35 g/t Ag over 9.10 meters in hole SP-DD-21-060

 

Sean Roosen, CEO of Osisko Development commented, “These initial results and geologic interpretation from Sapuchi, give us strong confidence in the potential to build the resources significantly within the property. With this confirmation and exploration drilling, we expect to have a resource estimation in the following months.”

 

The San Antonio Gold Project gold mineralization is characterized by hydrothermal breccia that forms an approximately 3,000 meters long east-northeast trending mineralization corridor with the Luz del Cobre copper deposit at the east. The gold mineralization is associated with intense sericite and chlorite alteration and is intrusion related with host sedimentary rocks. The breccia has been defined to a vertical depth of 500 meters and at an average depth of 250 meters. The upper 250 meters of the breccia is mostly altered and prospective. Drilling has occurred within the three major zones at Sapuchi, Golfo de Oro and California, over a combined strike length of 900 meters of the 3000-meter trend.

 

True widths are estimated to be 80% to 100% 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: San Antonio Mineral Zones overview map

https://www.globenewswire.com/NewsRoom/AttachmentNg/f7876349-0ea7-46b2-aaf7-fc75a42bafeb

 

Figure 2: Sapuchi Plan Map

https://www.globenewswire.com/NewsRoom/AttachmentNg/1dd076f9-e9f0-42f6-af55-936f4485dcf8

 

Figure 3: Sapuchi Section 632050 select drilling highlights

https://www.globenewswire.com/NewsRoom/AttachmentNg/3186cefb-2861-492a-ae9b-ab9e02b6b0af

 

Figure 4: Sapuchi Section 631950

https://www.globenewswire.com/NewsRoom/AttachmentNg/fc0ae19f-847e-4ede-97af-cc32105f95c7

 

Figure 5: Sapuchi Section 631740

https://www.globenewswire.com/NewsRoom/AttachmentNg/8cd87ed3-e911-4848-b9b7-75a37db024e7

 

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 at the project site. 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.

 

Drill core samples are submitted to ALS Geochemistry and Bureau Veritas preparation laboratory in Hermosillo and then sent to their analytical facilities in North Vancouver, British Columbia for analysis. The facilities are 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 200 grams is pulverized. Analytical packages for ALS and BV are AA24 and FA450 respectively. Multi Element geochemistry is also analyzed with ME MS61 at ALS and MA 200 at BV.

 

About Osisko Development Corp.

 

Osisko Development Corp. is 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 and mineral resource estimate effective 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 first half of 2022. 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 and the Company’s 14,789,373 outstanding share purchase warrants were listed on the TSX Venture Exchange on October 25, 2021.

 

 

Table 1: San Antonio Gold Project 2021 Length Weighted Drill Hole Gold and Silver Composites from Sapuchi Zone

 

HOLE ID   FROM M TO (M) LENGTH (M) AU (G/T) AG (G/T)
SP-DD-21-001   6.35 17.25 10.90 1.42 8.05
  Including 6.35 7.35 1.00 2.65 2.43
  and 9.25 11.00 1.75 2.88 11.60
    28.00 34.00 6.00 1.93 2.79
  Including 30.00 31.00 1.00 7.84 7.84
    42.50 55.00 12.50 2.16 2.90
  Including 47.20 48.40 1.20 2.94 4.50
  and 48.40 49.40 1.00 2.33 1.91
  and 49.40 50.50 1.10 11.45 13.80
  and 54.00 55.00 1.00 2.97 0.97
    83.85 98.65 14.80 1.04 2.00
    85.35 86.40 1.05 5.23 6.52
SP-DD-21-002   14.50 24.80 10.30 0.91 7.60
  Including 23.35 24.80 1.45 2.45 4.84
    32.30 33.00 0.70 3.61 6.72
    60.05 70.00 9.95 1.06 4.54
  Including 64.30 65.50 1.20 2.11 3.65
  and 65.50 67.00 1.50 2.07 2.82
SP-DD-21-003   39.50 54.50 15.00 1.22 2.44
  Including 42.00 43.35 1.35 2.71 1.74
  and 43.35 44.85 1.50 2.28 1.78
SP-DD-21-004   32.50 35.00 2.50 4.15 3.91
    54.20 61.00 6.80 0.91 2.00
SP-DD-21-005   64.85 67.85 3.00 1.59 2.03
    89.80 94.85 5.05 2.66 4.27
  Including 90.90 92.00 1.10 7.52 1.99
  and 93.10 93.85 0.75 5.89 11.50
    284.95 285.75 0.80 2.11 1.17
SP-DD-21-006   30.65 37.80 7.15 0.88 3.37
  Including 30.65 32.30 1.65 2.26 10.65
    61.25 63.80 2.55 1.14 4.21
    119.15 129.40 10.25 2.37 2.02
  Including 120.55 121.85 1.30 4.09 3.10
  and 125.70 126.75 1.05 9.75 5.23
    351.60 354.85 3.25 2.05 12.07
  Including 351.60 353.05 1.45 2.91 15.90
    418.05 435.75 17.70 1.01 11.75
  Including 426.70 427.25 0.55 6.69 7.74
    459.50 475.60 16.10 0.55 0.89
  Including 459.50 461.00 1.50 2.24 0.61
SP-DD-21-007   30.10 43.95 13.85 1.50 3.06
  Including 30.10 31.60 1.50 6.56 1.05
  and 35.55 36.45 0.90 3.49 7.67
    54.05 63.50 9.45 1.58 32.51
  Including 58.00 59.25 1.25 5.83 5.48
  and 60.50 62.00 1.50 2.92 190.00
    123.90 138.50 14.60 0.81 1.43
  Including 131.40 132.25 0.85 2.76 1.45
    146.00 147.50 1.50 2.09 0.29
SP-DD-21-008   11.20 31.65 20.45 1.08 2.69
  Including 12.50 14.75 2.25 2.72 1.53
  and 19.10 20.50 1.40 4.85 3.45
    50.00 52.05 2.05 2.71 2.13
    62.55 84.70 22.15 1.59 3.68
  Including 64.05 65.55 1.50 2.83 3.98
  and 70.05 71.55 1.50 2.58 1.92
  and 73.05 74.55 1.50 3.16 3.25
  and 74.55 76.05 1.50 2.24 2.14
  and 76.05 77.55 1.50 2.72 7.66
    101.75 103.25 1.50 4.13 6.51
    165.00 177.65 12.65 2.94 3.98
  Including 165.00 166.50 1.50 3.00 0.90
  and 173.25 173.95 0.70 44.40 54.40
SP-DD-21-009   12.30 19.40 7.10 1.51 0.87
    31.35 32.85 1.50 2.23 3.61
    45.50 46.60 1.10 2.75 12.00
SP-DD-21-010   27.50 36.50 9.00 2.24 14.32
  Including 32.00 33.50 1.50 10.90 63.20
    57.50 59.00 1.50 2.30 0.98
    66.00 72.85 6.85 0.78 1.87
    119.80 121.30 1.50 6.63 1.48
SP-DD-21-011   8.10 28.95 20.85 0.72 4.13
  Including 12.65 13.75 1.10 2.55 1.73
  and 27.25 28.10 0.85 2.60 9.30
SP-DD-21-012   11.10 26.00 14.90 1.22 1.20
    12.55 14.00 1.45 3.42 1.68
    81.55 87.35 5.80 1.15 2.49
  Including 81.55 83.05 1.50 2.57 3.94
SP-DD-21-013   77.60 87.80 10.20 1.06 3.75
  Including 86.55 87.80 1.25 5.53 0.89
SP-DD-21-014   85.10 89.40 4.30 1.37 1.43
  Including 87.20 87.85 0.65 2.14 1.07
    136.10 137.25 1.15 2.42 1.06
SP-DD-21-016   4.15 11.30 7.15 0.87 9.47
SP-DD-21-017   46.40 47.90 1.50 2.18 4.44
SP-DD-21-018   18.05 27.10 9.05 1.02 3.13
  Including 18.80 19.70 0.90 2.83 2.69
  and 21.60 22.15 0.55 7.73 3.52
SP-DD-21-019   107.45 116.80 9.35 1.08 16.62
  Including 109.80 110.60 0.80 2.54 4.22
    167.40 207.30 39.90 1.02 3.90
  Including 193.20 194.70 1.50 2.86 3.44
  and 199.15 199.80 0.65 2.47 0.96
  and 201.30 202.80 1.50 3.08 3.79
SP-DD-21-021   23.95 29.95 6.00 1.43 3.77
    47.40 48.90 1.50 2.71 3.22
SP-DD-21-023   8.85 10.35 1.50 5.00 7.46
    21.90 38.75 16.85 0.94 2.36
  Including 30.25 31.25 1.00 9.13 23.20
SP-DD-21-024   35.95 41.80 5.85 0.81 2.14
SP-DD-21-025   4.45 5.55 1.10 3.27 2.22
    25.70 26.85 1.15 2.18 2.20
SP-DD-21-028   96.20 102.20 6.00 1.08 3.23
  Including 99.20 100.70 1.50 2.03 2.54
    137.10 143.10 6.00 0.98 1.94
    192.05 196.30 4.25 3.39 13.46
  Including 193.50 194.60 1.10 3.89 7.48
  and 194.60 195.80 1.20 6.94 38.30
SP-DD-21-029   85.75 105.05 19.30 1.60 3.09
  Including 87.25 88.60 1.35 3.75 3.19
  and 88.60 90.10 1.50 3.27 4.99
  and 101.35 102.85 1.50 3.82 3.31
    132.10 144.40 12.30 0.92 1.10
  Including 133.30 134.25 0.95 2.17 0.91
  and 143.85 144.40 0.55 2.76 1.28
    166.35 167.35 1.00 4.87 22.00
SP-DD-21-030   61.25 61.85 0.60 2.04 24.30
SP-DD-21-031   54.35 55.85 1.50 3.10 77.40
    115.85 121.65 5.80 0.80 0.73
    163.50 168.20 4.70 3.34 7.13
  Including 165.00 166.10 1.10 10.00 11.30
SP-DD-21-034   2.30 24.30 22.00 1.30 3.06
  Including 18.70 19.90 1.20 6.05 3.57
    34.00 41.20 7.20 1.18 1.02
SP-DD-21-035   20.70 21.55 0.85 16.10 13.30
    66.45 69.15 2.70 1.92 1.95
    66.45 67.65 1.20 3.01 1.54
    115.25 116.10 0.85 3.05 0.75
    148.00 150.95 2.95 1.51 15.23
SP-DD-21-038   5.85 27.50 21.65 2.14 3.05
  Including 18.50 20.00 1.50 3.18 3.67
  and 21.50 23.00 1.50 9.99 2.63
  and 23.00 24.50 1.50 7.63 1.04
    72.50 74.50 2.00 2.70 1.38
    98.40 101.80 3.40 1.58 2.00
  Including 100.60 101.80 1.20 3.00 1.52
    111.15 114.50 3.35 1.81 1.60
  Including 111.15 112.10 0.95 4.37 1.81
SP-DD-21-039   23.80 37.25 13.45 1.33 3.75
  Including 25.70 27.00 1.30 5.93 2.62
SP-DD-21-040   34.20 41.55 7.35 0.93 7.25
  Including 40.05 41.55 1.50 3.57 5.45
    70.35 99.55 29.20 1.52 13.77
  Including 75.30 76.40 1.10 3.30 5.04
  and 83.00 84.50 1.50 4.60 10.00
  and 84.50 85.50 1.00 3.49 5.57
    137.90 140.90 3.00 1.83 2.56
    154.70 162.70 8.00 1.21 0.94
  Including 154.70 156.05 1.35 4.61 1.47
    193.00 200.25 7.25 1.34 1.20
  Including 195.50 197.00 1.50 2.88 0.87
SP-DD-21-043   134.95 136.45 1.50 1.01 1.00
SP-DD-21-046   55.00 72.00 17.00 1.02 3.34
  Including 55.00 56.50 1.50 2.43 5.25
    80.15 92.15 12.00 0.95 3.66
    118.85 120.35 1.50 5.32 0.45
SP-DD-21-047   5.10 6.30 1.20 2.02 1.20
    18.50 30.35 11.85 1.80 1.19
  Including 18.50 20.00 1.50 3.40 2.47
  and 27.50 28.15 0.65 8.01 0.93
  and 28.15 28.85 0.70 4.86 0.95
SP-DD-21-048 No significant assays          
SP-DD-21-050   56.50 62.50 6.00 0.76 0.77
    99.15 100.65 1.50 2.06 0.13
SP-DD-21-052   8.50 14.50 6.00 0.98 19.25
SP-DD-21-054   70.40 75.85 5.45 1.11 1.55
  Including 70.40 71.35 0.95 4.25 1.82
SP-DD-21-055   32.30 33.80 1.50 2.56 1.00
SP-DD-21-059   25.20 40.50 15.30 0.72 3.54
  Including 25.20 25.70 0.50 2.33 2.22
  and 38.45 39.00 0.55 2.12 1.62
SP-DD-21-060   2.70 11.80 9.10 2.19 5.35
  Including 2.70 5.00 2.30 4.94 8.74

 

 

Table 2: Drill Hole Locations and Orientations

 

HOLE ID EASTING NORTHING ELEV DIP AZI DEPTH (M)
SP-DD-21-001 631846 3167941 684 -90 0 136
SP-DD-21-002 631845 3167904 667 -90 0 110
SP-DD-21-003 631731 3167902 725 -90 0 171
SP-DD-21-004 631943 3167891 678 -90 0 203
SP-DD-21-005 631732 3167929 715 -80 0 469
SP-DD-21-006 631890 3167972 681 -90 0 511
SP-DD-21-007 631644 3167936 721 -90 0 170
SP-DD-21-008 631731 3167864 706 -75 180 215
SP-DD-21-009 631541 3167887 686 -90 0 181
SP-DD-21-010 631544 3167885 686 -60 360 146
SP-DD-21-011 631846 3167885 656 -70 180 150
SP-DD-21-012 631542 3167888 686 -65 180 145
SP-DD-21-013 631942 3167835 638 -90 0 120
SP-DD-21-014 631545 3168059 656 -90 0 176
SP-DD-21-016 631735 3168130 625 -90 0 157
SP-DD-21-017 631942 3167835 638 -90 0 137
SP-DD-21-018 631738 3168103 625 -90 0 382
SP-DD-21-019 632045 3167952 699 -90 0 418
SP-DD-21-021 631644 3168042 647 -90 0 134
SP-DD-21-023 631741 3168053 639 -90 0 104
SP-DD-21-024 631846 3168037 631 -90 0 174
SP-DD-21-025 632049 3168109 609 -90 0 156
SP-DD-21-028 632159 3167957 724 -90 0 240
SP-DD-21-029 632037 3168009 663 -90 0 173
SP-DD-21-030 631949 3168010 659 -80 180 236
SP-DD-21-031 632050 3168036 648 -90 0 194
SP-DD-21-034 631833 3167990 655 -90 0 210
SP-DD-21-035 631951 3168031 646 -90 0 163
SP-DD-21-038 631740 3168013 660 -90 0 160
SP-DD-21-039 631632 3167906 698 -90 0 195
SP-DD-21-040 631941 3167971 685 -80 180 221
SP-DD-21-043 631452 3167977 666 -90 0 168
SP-DD-21-046 631896 3167916 676 -90 0 133
SP-DD-21-047 631794 3167988 654 -90 0 146
SP-DD-21-048 631439 3167832 604 -90 0 234
SP-DD-21-050 631894 3168025 658 -90 0 150
SP-DD-21-052 631643 3168000 672 -90 0 21
SP-DD-21-054 631707 3167582 586 -60 340 135
SP-DD-21-055 631493 3167793 627 -60 360 208
SP-DD-21-059 631731 3167616 595 -60 340 113
SP-DD-21-060 631740 3167702 628 -60 340 40

 

Posted November 11, 2021

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