Osisko Gold Royalties Ltd (TSX:OR) (NYSE:OR) is pleased to announce that its wholly-owned subsidiary, Osisko Bermuda Limited has entered into a binding agreement with Tintic Consolidated Metals LLC an indirect wholly-owned subsidiary of Osisko Development Corp. (TSX-V:ODV) (NYSEODV), with respect to the previously announced metals stream on the Trixie test mine, as well as mineral claims covering more than 17,000 acres in Central Utah’s historic Tintic Mining District.
TRIXIE MINE DEVELOPMENT UPDATE
ODV’s near term plan is to initiate underground and at surface drilling while it continues exploration development and processing of the mineralized material at the Trixie Mine. Drilling is targeting support for preparation of an initial resource statement pursuant to National Instrument 43-101 over the next twelve months. Concurrently, ODV will complete advanced technical studies on the Tintic Property to generate additional surface and underground targets, conduct metallurgical testing, geotechnical work and environmental studies to justify further development as well as increase production through a low-capital expenditure expansion.
For further details including cautionary language and forward looking statements related to the Trixie Mine and Tintic Property, please refer to ODV’s press releases dated January 25, 2022 titled “Osisko Development Announces Proposed Acquisition of Tintic Consolidated Metals” and May 30, 2022 titled “Osisko Development Completes Acquisition of Tintic Consolidated Metals, Binding Stream Terms and Release of Funds from Subscription Receipt Financing” filed on www.sedar.com.
OSISKO OWNERSHIP INTEREST IN ODV
ODV announced today that is has closed its previously announced acquisition of a 100% interest in the Trixie Mine and Tintic Property, and satisfied the escrow release conditions relating to the previously announced issuances of subscription receipts of ODV (collectively the “Transactions”). Following completion of the Transactions, Osisko’s ownership interest in ODV is now approximately 45%.
The scientific and technical content of this news release has been reviewed and approved by Guy Desharnais, Ph.D., P.Geo., Vice President, Project Evaluation at Osisko Gold Royalties Ltd, who is a “qualified person” as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
About Osisko Gold Royalties Ltd
Osisko is an intermediate precious metal royalty company focused on the Americas that commenced activities in June 2014. Osisko holds a North American focused portfolio of over 165 royalties, streams and precious metal offtakes. Osisko’s portfolio is anchored by its cornerstone asset, a 5% net smelter return royalty on the Canadian Malartic mine, which is the largest gold mine in Canada.
Highlights Indicative term sheets received from eight European, A... READ MORE
Filo Mining Corp. (TSX: FIL) (Nasdaq First North Growth Market: ... READ MORE
Candente Copper Corp. (TSX:DNT) (BVL:DNT) is pleased to announce ... READ MORE
Oroco Resource Corp. (TSX-V: OCO, OTC: ORRCF) announces assay res... READ MORE
TinOne Resources Inc. (TSX-V: TORC) (OTCQB: TORCF) is pleased t... READ MORE
We acknowledge the [financial] support of the Government of Canada.