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Osisko Development Intersects 26.5 g/t Au Over 1.5 Meters and 0.92 g/t Au Over 37.5 Meters at California Target – San Antonio Project

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Osisko Development Intersects 26.5 g/t Au Over 1.5 Meters and 0.92 g/t Au Over 37.5 Meters at California Target – San Antonio Project

 

 

 

 

 

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 Project in Sonora State, Mexico.

 

Summary

  • A total of 177 holes and 27,900 meters were drilled in 2021. The objective of the drill program was to conduct exploration and resource drilling at a spacing of 25 meters and historic drilling validation for the three main target areas (Figure 1).
  • This news releases encompasses all 5,563 meters from 27 holes at the California Target: CA-DD-21-020 to CA-DD-21-165 inclusive (Figure 2).
  • The California gold mineralization is part of what is known as the El Realito Trend, located approximately 1 km to the southwest of Sapuchi and 4 km in length. The gold mineralization is typically pyrite with minor chalcopyrite and associated with hydrothermal breccia and quartzite, andesite and dacite intrusions.
  • CA-DD-21-091 intersected 3.93 g/t Au over 13.50 meters including 26.50 g/t Au over 1.50 meters and is located 45 meters along strike within a sulphide zone from hole CA-DD-21-085 that assayed 0.92 g/t Au over 37.50 meters.
  • Detailed drilling results are presented in Table 1, drill hole locations are presented in Table 2, and drill hole cross sections are presented in Figure 3.

 

Assay Highlights

  • 0.63 g/t Au and 0.90 g/t Ag over 39.95 meters in hole CA-DD-21-026
  • 1.50 g/t Au and 13.96 g/t Ag over 11.90 meters in hole CA-DD-21-037
  • 1.73 g/t Au and 13.67 g/t Ag over 16.25 meters in hole CA-DD-21-051 including
  • 12.85 g/t Au and 13.10 g/t Ag over 1.05 meters
  • 1.62 g/t Au and 2.25 g/t Ag over 13.60 meters in hole CA-DD-21-064
  • 1.28 g/t Au and 1.17 g/t Ag over 16.30 meters in hole CA-DD-21-070 including
  • 8.21 g/t Au and 1.38 g/t Ag over 1.50 meters
  • 0.92 g/t Au and 2.15 g/t Ag over 37.50 meters in hole CA-DD-21-085
  • 0.87 g/t Au and 3.44 g/t Ag over 17.20 meters in hole CA-DD-21-085
  • 1.56 g/t Au and 0.94 g/t Ag over 9.90 meters in hole CA-DD-21-091
  • 3.93 g/t Au and 3.38 g/t Ag over 13.50 meters in hole CA-DD-21-091 including
  • 26.50 g/t Au and 4.80 g/t Ag over 1.50 meters
  • 0.73 g/t Au and 3.09 g/t Ag over 18.00 meters in hole CA-DD-21-100
  • 2.41 g/t Au and 3.00 g/t Ag over 9.00 meters in hole CA-DD-21-100
  • 0.76 g/t Au and 0.94 g/t Ag over 19.9 meters in hole CA-DD-21-113
  • 2.82 g/t Au and 11.39 g/t Ag over 9.55 meters in hole CA-DD-21-116
  • 21.00 g/t Au and 4.50 g/t Ag over 1.50 meters in hole CA-DD-21-0165

 

Sean Roosen, CEO of Osisko Development commented, “The California target is one of the three main zones at the San Antonio Project. These recent drill results at California show significant anomalous results in the oxide, transition and sulphide horizons and indicate continuity near surface and along strike and, open to the west along trend. These results increase our confidence in the upcoming San Antonio mineral resource estimate, which will be available in the near future. At least a dozen other target areas remain to be drill tested.”

 

The San Antonio Project gold mineralization is characterized by hydrothermal breccia that forms an approximately 3,000 m 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 most 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 is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/d34644d5-d3a4-436b-a104-4732989e2440

 

Figure 2: California Plan Map is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/7afe75b3-f311-4e34-ba96-2934ac9fbcb4

 

Figure 3: California Section select drilling highlights is available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/a6421865-a2fe-4e8a-b429-42187bca10a4

 

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 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 under the symbol “ODV” on December 2, 2020 and the Company’s 14,789,373 outstanding share purchase warrants were listed on the TSX Venture Exchange under the symbol “ODV.WT” on October 25, 2021.

 

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

 

HOLE ID   FROM (M) TO (M) LENGTH (M) AU (G/T) AG (G/T)
CA-DD-21-020   159.40 166.35 6.95 1.19 1.25
  Including 160.70 161.85 1.15 5.28 1.63
    201.55 202.95 1.40 0.94 0.34
CA-DD-21-026   58.45 67.65 9.20 0.48 1.24
  Including 64.70 66.15 1.45 1.49 2.47
    90.75 91.55 0.80 0.71 2.24
    124.45 164.40 39.95 0.63 0.90
  Including 124.45 125.95 1.50 4.05 5.96
  and 133.00 133.65 0.65 3.58 1.13
  and 147.10 148.60 1.50 1.82 0.75
  and 161.40 162.50 1.10 3.15 1.60
CA-DD-21-032   123.90 133.55 9.65 0.90 13.74
  Including 127.55 129.05 1.50 1.82 28.20
  and 129.05 130.55 1.50 1.29 6.48
  and 132.05 133.55 1.50 1.21 5.96
CA-DD-21-037   29.00 30.35 1.35 1.38 0.89
    86.40 98.30 11.90 1.50 13.96
  Including 86.40 87.05 0.65 9.51 24.40
  and 87.05 87.95 0.90 9.81 64.20
CA-DD-21-041   82.65 93.90 11.25 1.31 1.42
  Including 84.90 86.40 1.50 1.49 2.81
  and 86.40 87.80 1.40 5.48 3.44
  and 92.40 93.90 1.50 2.17 1.36
    114.90 122.40 7.50 0.55 0.82
  Including 114.90 116.40 1.50 1.79 1.22
CA-DD-21-045   0.00 9.80 9.80 0.80 1.22
  Including 5.25 8.25 3.00 2.14 1.57
    29.55 36.00 6.45 0.64 1.55
  Including 29.55 31.05 1.50 2.16 4.30
CA-DD-21-051   4.35 23.00 18.65 0.67 30.83
  Including 9.85 11.35 1.50 1.20 4.75
  and 12.85 14.35 1.50 1.23 9.07
  and 14.35 15.85 1.50 1.11 127.00
  and 17.35 18.85 1.50 1.35 70.00
    38.10 51.90 13.80 0.58 5.38
  Including 47.10 48.60 1.50 1.33 2.72
  and 51.00 51.90 0.90 2.89 26.80
    128.90 130.40 1.50 2.49 6.21
    151.10 151.65 0.55 5.18 3.94
    175.00 190.05 15.05 0.59 3.41
  Including 187.85 188.95 1.10 1.11 2.43
  and 188.95 190.05 1.10 1.27 2.83
    208.10 224.35 16.25 1.73 13.67
  Including 212.80 214.30 1.50 2.19 13.90
  and 214.30 215.35 1.05 12.85 13.10
  and 215.35 216.35 1.00 6.27 8.33
CA-DD-21-056   87.45 91.85 4.40 1.40 16.81
    104.30 104.85 0.55 5.61 8.11
CA-DD-21-058   40.95 42.45 1.50 1.06 5.95
    122.50 124.00 1.50 1.01 6.98
CA-DD-21-062   70.15 71.20 1.05 1.03 0.37
CA-DD-21-064   114.80 128.40 13.60 1.62 2.25
  Including 120.90 122.40 1.50 2.00 1.70
  and 123.90 125.40 1.50 3.68 2.50
  and 125.40 126.90 1.50 2.39 1.77
    194.40 204.90 10.50 0.64 1.10
  Including 201.90 203.40 1.50 3.08 1.05
CA-DD-21-070   56.55 58.05 1.50 2.88 49.90
    76.95 78.45 1.50 1.14 0.67
    86.05 93.55 7.50 0.50 0.65
    119.05 120.55 1.50 0.71 1.24
    158.05 174.35 16.30 1.28 1.17
  Including 161.00 162.50 1.50 8.21 1.38
    207.35 208.85 1.50 1.19 1.82
CA-DD-21-072   145.10 147.45 2.35 0.66 0.38
CA-DD-21-076   87.40 88.40 1.00 1.32 1.68
    149.90 150.80 0.90 3.46 1.43
    158.20 165.60 7.40 1.24 0.68
  Including 162.95 164.20 1.25 3.39 1.07
  and 164.20 165.60 1.40 2.92 1.86
    190.15 191.20 1.05 3.04 1.46
    210.70 212.70 2.00 1.51 1.06
    232.80 246.20 13.40 0.64 1.69
  Including 232.80 233.95 1.15 1.35 5.30
  and 241.60 242.20 0.60 2.07 2.80
    260.75 261.15 0.40 2.66 12.35
CA-DD-21-085   30.80 31.30 0.50 7.92 12.40
    45.80 63.80 18.00 0.75 1.92
  Including 48.80 50.30 1.50 2.03 3.46
    95.30 99.80 4.50 0.93 0.65
    134.30 171.80 37.50 0.92 2.15
  Including 159.80 161.30 1.50 1.70 4.82
  and 165.80 167.30 1.50 2.08 1.65
  and 170.30 171.80 1.50 3.32 5.23
    210.80 228.00 17.20 0.87 3.44
  Including 216.80 217.65 0.85 2.62 7.23
  and 220.50 221.30 0.80 2.75 3.64
CA-DD-21-091   59.20 75.70 16.50 0.73 1.91
  Including 63.70 65.20 1.50 2.07 1.10
  and 65.20 66.70 1.50 2.17 7.20
    93.70 103.60 9.90 1.56 0.94
  Including 93.70 95.20 1.50 2.06 0.90
  and 95.20 97.60 2.40 3.61 1.00
    135.40 148.90 13.50 3.93 3.38
  Including 139.90 141.40 1.50 26.50 4.80
  and 142.90 144.40 1.50 2.23 11.00
    201.70 207.50 5.80 0.59 1.13
  Including 201.70 203.20 1.50 1.35 0.90
CA-DD-21-095 No Significant Assays          
CA-DD-21-100   18.80 36.80 18.00 0.73 3.09
  Including 35.30 36.80 1.50 2.04 4.60
    47.30 48.80 1.50 1.41 9.30
    101.30 104.30 3.00 1.41 1.80
    122.30 131.30 9.00 2.41 3.00
  Including 122.30 123.80 1.50 3.59 1.80
  and 126.80 128.30 1.50 2.02 2.90
  and 128.30 129.80 1.50 7.30 7.10
    149.30 158.30 9.00 0.62 1.07
  Including 156.80 158.30 1.50 1.91 2.00
    198.80 201.80 3.00 3.16 5.45
CA-DD-21-105   53.40 54.90 1.50 3.39 1.10
CA-DD-21-109   122.10 123.30 1.20 3.61 1.60
CA-DD-21-113   32.30 52.20 19.90 0.76 0.94
  Including 32.30 33.80 1.50 3.82 0.50
  and 51.25 52.20 0.95 4.58 5.50
CA-DD-21-116   14.50 21.45 6.95 0.84 1.14
  Including 14.50 16.00 1.50 1.32 1.40
  and 16.00 17.50 1.50 1.44 1.00
    33.95 34.45 0.50 5.25 4.00
    89.15 98.70 9.55 2.82 11.39
  Including 89.15 90.65 1.50 6.19 16.60
  and 90.65 92.15 1.50 4.06 6.60
  and 96.10 97.20 1.10 9.49 1.80
CA-DD-21-122   77.40 87.80 10.40 0.77 25.02
  Including 78.80 80.30 1.50 1.02 110.60
  and 86.30 87.80 1.50 3.23 39.30
    97.25 98.40 1.15 7.10 4.20
CA-DD-21-127   68.25 69.75 1.50 5.77 51.00
    97.55 103.00 5.45 1.27 2.38
  Including 97.55 98.30 0.75 2.27 0.50
  and 101.30 102.00 0.70 6.16 2.80
CA-DD-21-132 No Significant Assays          
CA-DD-21-142   84.30 85.80 1.50 3.61 7.00
CA-DD-21-165   57.00 63.35 6.35 0.90 1.88
  including 60.70 62.20 1.50 2.19 1.90
  and 62.20 63.35 1.15 1.62 3.40
    119.40 120.90 1.50 21.00 4.50

 

 

Table 2: Drill Hole Locations and Orientations

 

HOLE ID EASTING NORTHING ELEV DIP AZI DEPTH (M)
CA-DD-21-020 631071 3166634 592 0 -90 230
CA-DD-21-026 631122 3166502 623 0 -90 275
CA-DD-21-032 631170 3166487 636 0 -90 191
CA-DD-21-037 631278 3166592 637 0 -90 209
CA-DD-21-041 631221 3166540 628 0 -90 167
CA-DD-21-045 631121 3166634 581 0 -90 241
CA-DD-21-051 631173 3166644 593 0 -90 233
CA-DD-21-056 631219 3166688 606 0 -90 108
CA-DD-21-058 630964 3166638 627 0 -90 188
CA-DD-21-062 630926 3166642 614 340 -85 188
CA-DD-21-064 630964 3166591 641 0 -90 233
CA-DD-21-070 631013 3166537 643 0 -90 332
CA-DD-21-072 630924 3166564 630 0 -90 179
CA-DD-21-076 631022 3166597 612 360 -80 404
CA-DD-21-085 631075 3166538 608 0 -90 266
CA-DD-21-091 631123 3166536 608 0 -90 215
CA-DD-21-095 631151 3166515 623 0 -90 192
CA-DD-21-100 631045 3166587 611 0 -90 260
CA-DD-21-105 631098 3166625 589 0 -90 209
CA-DD-21-109 631156 3166659 580 0 -90 173
CA-DD-21-113 631276 3166640 628 0 -90 120
CA-DD-21-116 631309 3166591 633 0 -90 126
CA-DD-21-122 631247 3166576 631 0 -90 140
CA-DD-21-127 631398 3166629 571 0 -90 153
CA-DD-21-132 631416 3166664 571 0 -90 167
CA-DD-21-142 631425 3166515 640 0 -90 203
CA-DD-21-165 631403 3166519 639 0 -90 161

 

 

Posted February 18, 2022

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