The Prospector News

Osisko Development Intersects 26.58 g/t Au Over 5.05 Meters and 7.87 g/t Au Over 10.25 Meters at Valley Zone

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Osisko Development Intersects 26.58 g/t Au Over 5.05 Meters and 7.87 g/t Au Over 10.25 Meters at Valley 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 nine diamond drill rigs are currently active on the project.

 

Summary

 

  • A total of 120,000 meters have been drilled thus far in 2021. Of that, 42,000 meters have been drilled in the Valley Zone.
  • Recent assay results include holes CM-21-017 to CM-21-029 (Figure 1).
  • CM-21-019 intersected multiple mineralized vein corridors including 4.16 g/t Au over 11.85 meters and 8.97 g/t Au over 4.95 meters including a high-grade sample of 41.30 g/t Au over 0.50 meter.
  • CM-21-020 intersected a high-grade vein corridor that assayed 26.58 g/t Au over 5.05 meters including high grade samples of 37.50 g/t Au over 0.90 meter, 58.90 g/t Au over 0.85 meter and 42.80 g/t Au over 1.00 meter.
  • CM-21-024 intersected a vein corridor with visible gold and cosalite and assayed 7.87 g/t Au over 10.25 meters, including a sample of 45.30 g/t Au over 0.85 meter.
  • Detailed drilling results and a drill hole location plan map are presented at the end of this release.

 

Assay Highlights

 

  • 33.90 g/t Au over 0.50 meter in hole CM-21-017
  • 33.80 g/t Au over 0.50 meter in hole CM-21-018
  • 4.16 g/t Au over 11.85 meters in hole CM-21-019
  • 34.30 g/t Au over 0.50 meter in hole CM-21-019
    8.97 g/t Au over 4.95 meters in hole CM-21-019 including
  • 41.30 g/t Au over 0.50 meter
  • 26.58 g/t Au over 5.05 meters in hole CM-21-020 including
  • 37.50 g/t Au over 0.90 meter and
  • 58.90 g/t Au over 0.85 meter and
  • 42.80 g/t Au over 1.00 meter
  • 5.39 g/t Au over 6.55 meters in hole CM-21-022
  • 7.87 g/t Au over 10.25 meters in hole CM-21-024 including
  • 45.30 g/t Au over 0.85 meters
  • 5.19 g/t Au over 7.25 meters in hole CM-21-024
  • 30.40 g/t Au over 0.50 meter in hole CM-21-025
  • 39.80 g/t Au over 0.70 meter in hole CM-21-028
  • 36.00 g/t Au over 0.80 meter in hole CM-21-028
  • 34.70 g/t Au over 0.75 meters in hole CM-21-029

 

Maggie Layman, Vice President of Exploration of Osisko Development commented, “Osisko currently has three drill rigs in the Valley Zone, and as one of our top priority infill areas, these recent results show excellent continuity of vein corridors in this deposit. Every hole has intersected high grade results.”

 

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 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.

 

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 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.

 

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

 

HOLE ID   FROM M TO (M) LENGTH (M) AU (G/T)
CM-21-017   22.00 22.50 0.50 6.29
    39.35 40.00 0.65 6.49
    77.00 77.50 0.50 6.33
    171.30 172.50 1.20 3.94
    224.00 228.65 4.65 5.44
  Including 224.00 224.50 0.50 33.90
  and 228.00 228.65 0.65 10.95
    307.25 308.00 0.75 3.31
    323.60 326.00 2.40 6.73
  Including 323.60 325.10 1.50 8.34
    366.80 367.80 1.00 10.95
    438.40 439.00 0.60 7.59
CM-21-018   136.10 136.60 0.50 14.25
    170.55 171.25 0.70 3.52
    173.25 174.40 1.15 5.59
    276.30 281.15 4.85 3.14
    285.25 286.75 1.50 3.26
    302.75 303.25 0.50 33.80
    360.00 361.50 1.50 4.51
CM-21-019   72.15 84.00 11.85 4.16
  Including 73.20 74.25 1.05 17.60
  and 75.65 76.80 1.15 11.85
  and 83.00 84.00 1.00 7.56
    131.50 135.60 4.10 3.00
  Including 131.50 132.00 0.50 5.52
  and 135.00 135.60 0.60 15.55
    292.25 292.75 0.50 34.30
    301.05 306.00 4.95 8.97
  Including 301.05 301.80 0.75 10.85
  and 301.80 302.30 0.50 11.75
  and 305.50 306.00 0.50 41.30
    311.00 325.00 14.00 3.52
  Including 316.50 317.50 1.00 9.11
  and 317.50 318.60 1.10 12.30
  and 324.50 325.00 0.50 10.10
CM-21-020   18.00 22.50 4.50 5.45
  Including 18.00 19.00 1.00 15.80
  and 20.50 21.00 0.50 4.67
  and 22.00 22.50 0.50 11.95
    97.45 98.00 0.55 4.53
    167.80 168.30 0.50 4.01
    170.50 171.00 0.50 10.40
    171.50 172.10 0.60 5.58
    182.00 182.50 0.50 7.52
    296.10 301.15 5.05 26.58
  Including 296.10 297.00 0.90 37.50
  and 297.00 297.85 0.85 58.90
  and 298.35 299.35 1.00 42.80
CM-21-021   164.00 168.00 4.00 4.04
  Including 164.00 164.60 0.60 17.95
  and 164.60 165.45 0.85 4.58
    193.40 205.25 11.85 2.97
  Including 201.95 202.75 0.80 5.53
  and 202.75 203.75 1.00 12.95
  and 204.75 205.25 0.50 15.10
    244.90 247.40 2.50 9.42
  Including 246.00 247.40 1.40 13.25
    299.20 305.00 5.80 4.29
  Including 299.85 301.10 1.25 8.56
  and 301.10 302.15 1.05 10.55
    315.60 316.50 0.90 14.45
    336.30 337.10 0.80 5.41
CM-21-022   75.15 81.00 5.85 4.83
  Including 76.65 78.00 1.35 11.10
    259.50 261.00 1.50 6.42
    313.50 314.00 0.50 8.08
    321.50 322.00 0.50 9.12
    326.90 327.50 0.60 7.15
    330.00 336.55 6.55 5.39
  Including 334.40 334.90 0.50 9.95
  and 335.50 336.55 1.05 14.25
    355.00 355.50 0.50 3.80
    358.00 361.20 3.20 4.55
  Including 359.20 360.20 1.00 9.10
    368.80 376.65 7.85 4.38
  Including 369.90 371.00 1.10 7.74
  and 374.50 375.50 1.00 6.33
  and 375.50 376.65 1.15 7.64
    384.70 386.05 1.35 9.85
CM-21-023   27.10 27.80 0.70 3.32
    33.90 35.05 1.15 8.08
    54.90 55.90 1.00 6.77
    82.50 83.00 0.50 8.33
    90.20 93.70 3.50 7.19
  Including 90.20 91.10 0.90 17.35
  and 93.20 93.70 0.50 16.25
CM-21-024   22.70 23.40 0.70 5.36
    45.15 46.00 0.85 9.79
    59.10 59.85 0.75 5.42
    92.00 92.60 0.60 4.37
    254.45 255.55 1.10 3.00
    280.25 290.50 10.25 7.87
  Including 282.20 283.05 0.85 45.30
  and 283.05 283.55 0.50 13.35
  and 284.65 285.50 0.85 13.65
  and 286.20 287.00 0.80 18.30
    312.25 313.85 1.60 8.05
  Including 312.25 313.00 0.75 13.10
    336.20 343.45 7.25 5.19
  Including 339.10 340.10 1.00 14.15
  and 342.70 343.45 0.75 8.41
    346.60 348.30 1.70 6.74
  Including 346.60 347.15 0.55 15.55
CM-21-025   171.90 172.40 0.50 9.90
    180.50 182.00 1.50 7.39
  Including 181.00 181.50 0.50 10.15
  and 181.50 182.00 0.50 10.15
    188.50 189.70 1.20 4.27
    191.15 191.65 0.50 3.79
    266.80 268.30 1.50 11.27
  Including 266.80 267.30 0.50 23.30
  and 267.80 268.30 0.50 10.35
    284.30 284.80 0.50 30.40
    301.75 302.75 1.00 3.76
    324.25 324.75 0.50 9.29
    452.40 452.90 0.50 3.25
    516.00 517.65 1.65 7.76
  Including 516.00 516.50 0.50 9.18
  and 517.15 517.65 0.50 16.20
CM-21-026   117.90 118.40 0.50 3.63
    127.80 128.30 0.50 3.91
    147.30 147.90 0.60 27.30
    169.20 172.10 2.90 3.89
  Including 169.20 169.70 0.50 7.11
    170.20 170.80 0.60 9.63
    185.20 186.60 1.40 4.06
    248.90 249.50 0.60 6.53
CM-21-027   29.50 30.40 0.90 3.22
    32.50 33.00 0.50 5.77
CM-21-028   110.35 110.85 0.50 6.08
    123.00 123.70 0.70 39.80
    133.70 134.20 0.50 6.10
    142.50 143.00 0.50 10.80
    154.80 155.60 0.80 36.00
    167.50 169.35 1.85 4.39
  Including 167.50 168.10 0.60 8.85
    240.85 241.35 0.50 5.73
    245.50 248.70 3.20 3.89
  Including 245.50 246.00 0.50 22.10
    263.00 264.00 1.00 16.20
    309.30 309.80 0.50 4.02
    360.15 360.75 0.60 4.38
CM-21-029   17.50 18.50 1.00 5.84
    32.40 33.15 0.75 34.70
    40.60 41.20 0.60 3.60
    62.75 63.95 1.20 16.61
  Including 63.25 63.95 0.70 26.10

 

 

Table 2: Drill Hole Locations and Orientations

 

HOLE ID EASTING NORTHING ELEV DIP AZI DEPTH (M)
CM-21-017 595569 5884044 1227 -56 307 465
CM-21-018 595490 5883970 1207 -55 328 381
CM-21-019 595534 5884103 1225 -50 313 402
CM-21-020 595569 5884044 1227 -56 308 390
CM-21-021 595570 5884045 1224 -62 308 357
CM-21-022 595536 5884101 1223 -51 304 402
CM-21-023 595570 5884046 1224 -54 315 180
CM-21-024 595570 5884046 1224 -58 319 378
CM-21-025 595536 5884102 1224 -44 298 536
CM-21-026 595491 5883969 1206 -47 323 504
CM-21-027 595570 5884047 1225 -47 325 522
CM-21-028 595491 5883969 1206 -51 321 363
CM-21-029 595571 5884047 1225 -62 328 177

 

Figures accompanying this announcement are available at

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/d21508f8-ab44-4954-b86d-98d3fea4ad0d

 

https://www.globenewswire.com/NewsRoom/AttachmentNg/0ea7ede1-d722-4a82-98da-9b2306e4b6d1

 

Posted August 25, 2021

Share this news article

MORE or "UNCATEGORIZED"


Argo Gold Assays 32.84 g/t Au over 2.5 metres at the Raingold Area, Uchi Gold Project

Argo Gold Inc. (CSE: ARQ) (OTCQB: ARBTF) (FSE: P3U) (“Arg... READ MORE

October 15, 2021

Gowest Gold Completes Debt Conversion

Gowest Gold Ltd.  (TSX-V: GWA) announced today that, effective O... READ MORE

October 15, 2021

Roscan Gold Announces Completion of Strategic C$6.4 Million Investment by Asante Gold Corporation

Roscan Gold Corporation (TSX-V: ROS) (FSE: 2OJ) (OTC Pink: RCGCF... READ MORE

October 15, 2021

Galiano Gold Reports Preliminary Q3 2021 Operating Results for the Asanko Gold Mine

Galiano Gold Inc. (TSX: GAU) (NYSE American: GAU) reports prelimi... READ MORE

October 15, 2021

West Red Lake Gold Drills 77.87 gpt Gold Over 1.9 Metres

West Red Lake Gold Mines Inc. (CSE: RLG)  (OTCQB: RLGMF) (FSE: H... READ MORE

October 14, 2021

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

Government of Canada Supported
Copyright 2021 The Prospector News