Osisko Development Corporation ("
Osisko
Development" or the "
Company") is pleased
to announce drilling results from the 2022 exploration and category
conversion drill campaign at its 100%-owned Cariboo Gold Project
("
Cariboo"), located in central British Columbia.
ACTIVITIES SUMMARY:
- 6,500 meters of total infill drilling conducted in 2022 at the
Lowhee Zone within Cariboo.
- 27 holes drilled at the Lowhee Zone at closely spaced 12.5
meter intervals within the area proposed for the Cariboo bulk
sample (the "Bulk Sample") and other nearby high
priority areas (refer to Figures 1 to 3).
- 10,000 tonnes of mineralized material available and targeted
for the Bulk Sample, which is fully-permitted and benefits from a
fully-constructed portal (Figure 4), which was excavated with the
Company’s Roadheader.
- The objective of the Bulk Sample would be to demonstrate the
effectiveness of the Company’s newly-constructed facility for
sorting mineralized material ("Ore Sorting
Facility"), which has been designed to seek to
meaningfully increase head grade by pre-concentrating material and
separating barren from mineralized material, which, if proven,
could significantly reduce processing costs, energy costs and the
overall environmental impact footprint (Figure 5).
ASSAY HIGHLIGHTS:
Final assay results of the drill campaign
include holes BM-22-001 to BM-22-027. Detailed interval drill
results and a drill hole location plan map are presented in Table 1
and 2, respectively, at the end of this news release. Selected
assay highlights include:
- 7.13 grams
per tonne gold ("g/t Au") over 3.20 meters
("m") in hole BM-22-001
- 32.88 g/t
Au over 1.70 m in hole BM-22-003
- 47.30 g/t
Au over 0.50 m in hole BM-22-008
- 18.66 g/t
Au over 2.30 m in hole BM-22-010
- 20.20 g/t
Au over 0.75 m in hole BM-22-013
- 16.82 g/t
Au over 1.30 m in hole BM-22-014, including 42.50
g/t Au over 0.50 m
- 19.20 g/t
Au over 0.50 m in hole BM-22-015
- 55.20 g/t
Au over 0.50 m in hole BM-22-018
- 7.92 g/t
Au over 4.85 m in hole BM-22-018
- 18.06 g/t
Au over 2.30 m in hole BM-22-019, including 33.90
g/t Au over 0.50 m
- 8.07 g/t
Au over 4.20 m in hole BM-22-020
- 14.63 g/t
Au over 2.35 m in hole BM-22-022
- 11.91 g/t
Au over 6.60 m in hole BM-22-022, including 50.30
g/t Au over 0.50 m
- 17.79 g/t
Au over 2.70 m in hole BM-22-023
- 8.32 g/t
Au over 6.00 m in hole BM-22-024
- 36.40 g/t
Au over 0.60 m in hole BM-22-025
- 62.30 g/t
Au over 0.50 m in hole BM-22-025
- 7.13 g/t
Au over 4.10 m in hole BM-22-026
- 46.00 g/t
Au over 1.00 m in hole BM-22-027
Bulk Sample and Ore Sorting Facility
Update
The Bulk Sample, which is fully-permitted for
2,200 meters of development, is planned to be conducted at the
Lowhee Zone within Cariboo. The Lowhee Deposit hosts indicated
mineral resources totaling 188,000 ounces of gold ("oz
Au") (1.60 million tonnes grading 3.6 g/t Au) and inferred
mineral resources totaling 59,000 oz Au (0.52 million tonnes
grading 3.5 g/t Au). For further information please see the
Company's news release dated May 24, 2022 and the Cariboo Technical
Report (as defined herein). The Cariboo Technical Report includes
statements in relation to mineral resources. Mineral resources that
are not mineral reserves do not have demonstrated economic
viability.
It is intended that 10,000 tonnes of mineralized
material will be extracted for the bulk sample from the Lowhee Zone
using a completed portal allowing mining access. The Company then
intends to process the mineralized material through its Ore Sorting
Facility, which is designed to separate the sandstone
(unmineralized waste) from the gold-associated pyrite quartz veins
based on density. Figure 5 is an infographic illustrating the Ore
Sorting process and click below for a video on the ore sorter, also
on the Company website.
The Ore Sorting Facility employs low-cost,
durable and energy efficient technology, that has been used for
decades in numerous industrial applications, including in recycling
and food waste sectors. The Company has already conducted testing
on more than 5 tonnes of material, including from the Lowhee Zone,
which has demonstrated that the mineralogy at the Cariboo Gold
Project is well-suited to this sorting technology. The testing
conducted to date has resulted in recoveries of gold averaging an
estimated 93.9% and a separation of 57.4% of the waste material. In
simple terms, the technology could, if proven, be expected to
significantly increase the grade of the material to the mill and
substantially reduce the volume of material processed to
simultaneously increase grade while reducing costs.
Sean Roosen, CEO of Osisko Development,
commented, "It is sometimes difficult to communicate to
the market the effectiveness of the Ore Sorting Technology being
implemented at the Cariboo Gold Project. Based on the results to
date, which we hope to further validate by our bulk sample once
conducted, we could potentially remove over 50% of our waste
material at minimal cost to focus our processing efforts on the
mineralized material in the high-grade veins. The reason why
Cariboo is so conducive to this technology is because the resource
is comprised of two very different types of rock. Sandstone, which
does not contain gold, is low density. Whereas, our gold is
contained uniquely within pyrite hosted in quartz veins, which is
very high density. The simplest analogy I’ve been able to come up
with so far is that our rock is like a chocolate chip cookie and
all we want are the chocolate chips. Once we crumble the cookies,
the ore sorter takes care of separating the chocolate chips from
the crumbled cookie."
A visual video representation of the ore
sorter technology may be viewed HERE
or by accessing the following link:
https://youtu.be/RKemT1H33EE.
Vein Corridors
Vein Corridors of the Cariboo Gold Project
mineral resource are defined as a high-density network of
mineralized quartz veins hosted within unmineralized sandstone.
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.
Figure 1 accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/81a35c99-1da6-4686-9da0-8f32dff31f63
Figure 2 accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/7a5a388c-10c7-4413-8769-6d5e1daa55dc
Figure 3 accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/9c59ff15-f8b3-46c5-b3b9-dff2b52bb8ad
Figure 4 accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d7e002d3-8a6a-4b3d-bdd7-8bb45760ea8d
Figure 5 accompanying this announcement is
available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/33024f6b-23e1-4604-9a22-fc6b29bb0c8c
Table 1: Cariboo Gold Project 2022
Length Weighted Drill Hole Gold Composites
Hole ID |
|
From (m) |
To (m) |
Length(m) |
Gold (g/t) |
BM-22-001 |
|
228.70 |
229.20 |
0.50 |
3.62 |
|
|
233.40 |
236.60 |
3.20 |
7.13 |
|
Including |
234.55 |
235.15 |
0.60 |
22.90 |
|
and |
236.10 |
236.60 |
0.50 |
10.90 |
|
|
243.20 |
243.70 |
0.50 |
4.71 |
BM-22-002 |
No Significant Assays |
|
|
|
|
BM-22-003 |
|
210.00 |
211.70 |
1.70 |
32.88 |
BM-22-004 |
|
211.70 |
212.70 |
1.00 |
4.47 |
BM-22-005 |
|
228.00 |
228.75 |
0.75 |
3.17 |
BM-22-006 |
|
187.85 |
192.00 |
4.15 |
4.53 |
|
Including |
187.85 |
188.35 |
0.50 |
15.35 |
|
and |
190.50 |
192.00 |
1.50 |
6.15 |
|
|
196.30 |
196.80 |
0.50 |
6.82 |
BM-22-007 |
No Significant Assays |
|
|
|
|
BM-22-008 |
|
196.25 |
196.75 |
0.50 |
37.40 |
|
|
223.20 |
223.70 |
0.50 |
47.30 |
|
|
237.60 |
238.10 |
0.50 |
15.00 |
|
|
241.25 |
241.75 |
0.50 |
4.55 |
|
|
248.20 |
248.80 |
0.60 |
5.49 |
BM-22-009 |
|
234.00 |
234.75 |
0.75 |
3.61 |
BM-22-010 |
|
200.00 |
201.00 |
1.00 |
7.23 |
|
|
210.75 |
213.05 |
2.30 |
18.66 |
|
|
233.10 |
234.00 |
0.90 |
9.63 |
|
|
254.60 |
255.10 |
0.50 |
120.50 |
|
|
294.60 |
295.10 |
0.50 |
15.10 |
BM-22-011 |
|
183.10 |
183.85 |
0.75 |
3.01 |
BM-22-012 |
|
284.50 |
285.00 |
0.50 |
2.67 |
BM-22-013 |
|
202.90 |
203.80 |
0.90 |
4.85 |
|
|
234.75 |
235.50 |
0.75 |
20.20 |
|
|
263.00 |
263.50 |
0.50 |
30.70 |
|
|
265.10 |
265.80 |
0.70 |
2.88 |
BM-22-014 |
|
228.00 |
229.30 |
1.30 |
16.82 |
|
Including |
228.80 |
229.30 |
0.50 |
42.50 |
|
|
259.70 |
260.90 |
1.20 |
4.72 |
|
Including |
260.40 |
260.90 |
0.50 |
8.54 |
BM-22-015 |
|
241.60 |
244.00 |
2.40 |
4.63 |
|
Including |
243.50 |
244.00 |
0.50 |
19.20 |
BM-22-016 |
|
50.00 |
50.50 |
0.50 |
17.05 |
|
|
62.50 |
63.00 |
0.50 |
8.08 |
|
|
79.20 |
80.50 |
1.30 |
9.99 |
|
|
100.00 |
100.50 |
0.50 |
16.45 |
|
|
114.50 |
115.00 |
0.50 |
7.65 |
|
|
129.30 |
130.00 |
0.70 |
5.80 |
|
|
166.50 |
170.50 |
4.00 |
3.25 |
|
Including |
167.70 |
168.20 |
0.50 |
12.15 |
|
and |
170.00 |
170.50 |
0.50 |
6.74 |
|
|
184.50 |
185.00 |
0.50 |
12.60 |
BM-22-017 |
|
32.30 |
33.00 |
0.70 |
9.38 |
|
|
69.00 |
70.00 |
1.00 |
8.74 |
|
|
80.10 |
81.30 |
1.20 |
7.28 |
|
|
125.00 |
125.50 |
0.50 |
4.73 |
BM-22-018 |
|
28.00 |
28.50 |
0.50 |
3.80 |
|
|
50.00 |
50.50 |
0.50 |
5.88 |
|
|
57.50 |
60.00 |
2.50 |
2.72 |
|
|
57.50 |
58.00 |
0.50 |
9.34 |
|
|
64.00 |
64.50 |
0.50 |
4.05 |
|
|
67.90 |
68.40 |
0.50 |
3.48 |
|
|
73.00 |
73.70 |
0.70 |
13.55 |
|
|
98.50 |
99.00 |
0.50 |
55.20 |
|
|
120.75 |
121.25 |
0.50 |
6.25 |
|
|
127.00 |
127.60 |
0.60 |
7.00 |
|
|
133.00 |
135.00 |
2.00 |
9.88 |
|
Including |
133.00 |
133.70 |
0.70 |
22.70 |
|
|
162.90 |
163.50 |
0.60 |
36.40 |
|
|
166.50 |
167.00 |
0.50 |
10.50 |
|
|
205.90 |
210.75 |
4.85 |
7.92 |
|
Including |
205.90 |
206.40 |
0.50 |
21.70 |
|
and |
207.00 |
207.50 |
0.50 |
7.30 |
|
and |
209.35 |
210.00 |
0.65 |
19.00 |
|
and |
210.00 |
210.75 |
0.75 |
15.05 |
|
|
216.00 |
216.50 |
0.50 |
5.02 |
|
|
224.20 |
224.80 |
0.60 |
3.17 |
BM-22-019 |
|
14.30 |
14.80 |
0.50 |
4.31 |
|
|
64.50 |
66.00 |
1.50 |
15.45 |
|
|
77.60 |
78.20 |
0.60 |
8.56 |
|
|
115.00 |
115.50 |
0.50 |
4.60 |
|
|
131.50 |
133.80 |
2.30 |
18.06 |
|
Including |
131.50 |
132.30 |
0.80 |
19.30 |
|
and |
132.80 |
133.30 |
0.50 |
12.95 |
|
and |
133.30 |
133.80 |
0.50 |
33.90 |
|
|
142.00 |
143.00 |
1.00 |
6.02 |
|
|
209.20 |
209.70 |
0.50 |
4.61 |
BM-22-020 |
|
15.40 |
16.35 |
0.95 |
14.30 |
|
|
64.70 |
65.20 |
0.50 |
5.83 |
|
|
75.00 |
77.00 |
2.00 |
6.12 |
|
Including |
75.70 |
76.50 |
0.80 |
9.10 |
|
and |
76.50 |
77.00 |
0.50 |
8.44 |
|
|
101.70 |
103.00 |
1.30 |
8.98 |
|
|
136.00 |
140.20 |
4.20 |
8.07 |
|
Including |
136.00 |
136.50 |
0.50 |
29.00 |
|
and |
137.50 |
138.00 |
0.50 |
9.25 |
|
and |
138.50 |
139.00 |
0.50 |
20.20 |
BM-22-021 |
|
14.50 |
15.00 |
0.50 |
16.10 |
|
|
38.20 |
38.70 |
0.50 |
27.00 |
|
|
42.00 |
42.50 |
0.50 |
8.58 |
|
|
55.10 |
55.70 |
0.60 |
24.80 |
|
|
58.50 |
61.25 |
2.75 |
2.66 |
|
Including |
58.50 |
59.00 |
0.50 |
10.40 |
|
|
63.00 |
63.60 |
0.60 |
11.15 |
|
|
84.75 |
86.30 |
1.55 |
6.34 |
|
Including |
84.75 |
85.70 |
0.95 |
9.77 |
|
|
94.50 |
95.20 |
0.70 |
5.70 |
BM-22-022 |
|
50.35 |
50.85 |
0.50 |
7.28 |
|
|
61.00 |
63.35 |
2.35 |
14.63 |
|
Including |
62.00 |
63.35 |
1.35 |
18.15 |
|
|
73.40 |
73.90 |
0.50 |
3.19 |
|
|
94.40 |
97.50 |
3.10 |
4.64 |
|
Including |
94.40 |
95.30 |
0.90 |
11.25 |
|
and |
97.00 |
97.50 |
0.50 |
8.07 |
|
|
136.15 |
136.75 |
0.60 |
4.25 |
|
|
142.00 |
142.60 |
0.60 |
35.90 |
|
|
146.40 |
153.00 |
6.60 |
11.91 |
|
Including |
146.40 |
147.30 |
0.90 |
32.20 |
|
and |
147.30 |
148.50 |
1.20 |
11.05 |
|
and |
150.50 |
151.00 |
0.50 |
16.50 |
|
and |
152.50 |
153.00 |
0.50 |
50.30 |
|
|
156.30 |
156.80 |
0.50 |
3.17 |
|
|
192.70 |
193.70 |
1.00 |
4.59 |
BM-22-023 |
|
50.60 |
51.10 |
0.50 |
11.75 |
|
|
69.00 |
70.00 |
1.00 |
16.97 |
|
Including |
69.00 |
69.50 |
0.50 |
25.30 |
|
|
121.50 |
122.60 |
1.10 |
12.43 |
|
Including |
121.50 |
122.00 |
0.50 |
23.30 |
|
|
141.60 |
144.30 |
2.70 |
17.79 |
|
Including |
141.60 |
142.20 |
0.60 |
36.10 |
|
and |
142.20 |
142.80 |
0.60 |
38.20 |
|
|
146.40 |
147.00 |
0.60 |
2.91 |
|
|
148.70 |
149.40 |
0.70 |
3.54 |
|
|
169.00 |
170.00 |
1.00 |
3.81 |
|
|
178.80 |
182.70 |
3.90 |
2.22 |
|
|
201.50 |
202.10 |
0.60 |
2.36 |
|
|
216.50 |
218.00 |
1.50 |
2.86 |
BM-22-024 |
|
49.00 |
55.00 |
6.00 |
8.32 |
|
Including |
49.00 |
49.70 |
0.70 |
14.75 |
|
and |
50.50 |
51.50 |
1.00 |
16.65 |
|
and |
51.50 |
52.40 |
0.90 |
19.20 |
|
|
75.00 |
78.25 |
3.25 |
7.60 |
|
Including |
76.00 |
76.70 |
0.70 |
25.00 |
|
and |
76.70 |
77.25 |
0.55 |
8.18 |
|
|
88.30 |
90.00 |
1.70 |
2.37 |
|
|
93.50 |
95.00 |
1.50 |
10.66 |
|
Including |
94.00 |
95.00 |
1.00 |
13.90 |
|
|
141.50 |
142.00 |
0.50 |
5.60 |
|
|
157.00 |
157.50 |
0.50 |
2.77 |
|
|
163.10 |
163.60 |
0.50 |
10.05 |
|
|
166.60 |
167.10 |
0.50 |
15.60 |
BM-22-025 |
|
34.20 |
34.90 |
0.70 |
10.45 |
|
|
67.50 |
69.30 |
1.80 |
7.52 |
|
Including |
68.80 |
69.30 |
0.50 |
23.30 |
|
|
118.70 |
119.20 |
0.50 |
4.24 |
|
|
127.60 |
129.60 |
2.00 |
2.64 |
|
Including |
129.00 |
129.60 |
0.60 |
6.14 |
|
|
181.20 |
181.80 |
0.60 |
36.40 |
|
|
201.00 |
208.50 |
7.50 |
5.55 |
|
Including |
204.50 |
205.00 |
0.50 |
62.30 |
|
and |
207.00 |
207.50 |
0.50 |
7.39 |
|
and |
207.50 |
208.50 |
1.00 |
4.96 |
BM-22-026 |
|
33.00 |
33.70 |
0.70 |
5.28 |
|
|
63.30 |
64.00 |
0.70 |
3.04 |
|
|
95.60 |
99.70 |
4.10 |
7.13 |
|
Including |
95.60 |
96.10 |
0.50 |
10.40 |
|
and |
98.50 |
99.20 |
0.70 |
15.15 |
|
and |
99.20 |
99.70 |
0.50 |
23.90 |
|
|
174.00 |
174.50 |
0.50 |
10.40 |
|
|
205.00 |
213.50 |
8.50 |
2.24 |
|
Including |
205.00 |
205.50 |
0.50 |
4.91 |
|
and |
206.30 |
207.00 |
0.70 |
7.00 |
|
and |
207.00 |
207.50 |
0.50 |
4.93 |
|
and |
212.50 |
213.00 |
0.50 |
11.20 |
BM-22-027 |
|
49.60 |
58.50 |
8.90 |
5.69 |
|
Including |
50.30 |
51.30 |
1.00 |
46.00 |
|
|
121.15 |
121.90 |
0.75 |
6.08 |
|
|
186.30 |
186.85 |
0.55 |
10.05 |
|
|
214.50 |
215.00 |
0.50 |
4.06 |
Notes:True widths are estimated to be between
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. Drill hole locations are listed
in Table 2.
Table 2: Drill Hole Locations and
Orientations
HOLE ID |
EASTING |
NORTHING |
ELEV |
DIP |
AZI |
DEPTH(M) |
BM-22-001 |
596612 |
5882895 |
1459 |
-53 |
291 |
261 |
BM-22-002 |
596613 |
5882895 |
1459 |
-56 |
292 |
216 |
BM-22-003 |
596613 |
5882894 |
1459 |
-60 |
290 |
222 |
BM-22-004 |
596605 |
5882847 |
1464 |
-49 |
305 |
225 |
BM-22-005 |
596608 |
5882849 |
1473 |
-51 |
302 |
252 |
BM-22-006 |
596610 |
5882847 |
1471 |
-56 |
304 |
252 |
BM-22-007 |
596608 |
5882849 |
1471 |
-58 |
301 |
156 |
BM-22-008 |
596608 |
5882848 |
1469 |
-60 |
301 |
264 |
BM-22-009 |
596608 |
5882849 |
1470 |
-62 |
308 |
261 |
BM-22-010 |
596607 |
5882849 |
1466 |
-55 |
293 |
330 |
BM-22-011 |
596607 |
5882849 |
1465 |
-57 |
288 |
309 |
BM-22-012 |
596608 |
5882849 |
1465 |
-60 |
291 |
309 |
BM-22-013 |
596607 |
5882849 |
1465 |
-61 |
297 |
270 |
BM-22-014 |
596607 |
5882849 |
1464 |
-61 |
306 |
306 |
BM-22-015 |
596606 |
5882850 |
1466 |
-60 |
312 |
276 |
BM-22-016 |
596544 |
5882725 |
1466 |
-44 |
285 |
243 |
BM-22-017 |
596544 |
5882725 |
1465 |
-48 |
300 |
231 |
BM-22-018 |
596544 |
5882725 |
1466 |
-44 |
299 |
231 |
BM-22-019 |
596540 |
5882692 |
1465 |
-63 |
278 |
216 |
BM-22-020 |
596540 |
5882693 |
1465 |
-44 |
280 |
207 |
BM-22-021 |
596540 |
5882694 |
1465 |
-60 |
262 |
183 |
BM-22-022 |
596540 |
5882696 |
1465 |
-50 |
287 |
240 |
BM-22-023 |
596544 |
5882722 |
1464 |
-50 |
287 |
240 |
BM-22-024 |
596544 |
5882723 |
1465 |
-57 |
295 |
180 |
BM-22-025 |
596546 |
5882816 |
1454 |
-44 |
291 |
222 |
BM-22-026 |
596547 |
5882817 |
1454 |
-44 |
300 |
237 |
BM-22-027 |
596546 |
5882817 |
1453 |
-44 |
309 |
225 |
Qualified Persons
The scientific and technical information
contained in this news release has been prepared in accordance with
National Instrument 43-101 – Standards of Disclosure for Mineral
Projects ("NI 43-101"), and has been reviewed and
approved by Maggie Layman, P.Geo., Vice President, Exploration of
Osisko Development, and a "qualified person" within the meaning of
NI 43-101.
Technical Reports
Information relating to the Mineral Resource
Estimate is supported by the technical report titled "NI 43-101
Technical Report, Preliminary Economic Assessment for the Cariboo
Gold Project, District of Wells, British Columbia, Canada", dated
June 22, 2022 (with an effective date of May 24, 2022) prepared for
the Company by representatives of BBA Engineering Ltd., InnovExplo
Inc., SRK Consulting (Canada) Inc., WSP Canada Inc. (WSP Golder),
WSP USA Inc. (WSP Golder), Klohn Crippen Berger and Falkirk
Environmental Consultants Ltd. (the "Cariboo Technical
Report"). Reference should be made to the full text of the
Cariboo Technical Report, which was prepared in accordance with NI
43-101 and is available electronically on SEDAR (www.sedar.com)
under Osisko Development's issuer profile.
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, British Columbia. Numbered security tags are
applied to lab shipments for chain of custody requirements. Quality
control (QC) 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 1,000
gram 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. (NYSE: ODV, TSXV: ODV)
is uniquely positioned as a premier gold development company in
North America to advance the Cariboo Gold Project and other
Canadian, U.S.A. and Mexican properties, with the objective of
becoming the next mid-tier gold producer. The Cariboo Gold Project,
located in central British Columbia, Canada, is Osisko
Development's flagship asset. The considerable exploration
potential at depth and along strike distinguishes the Cariboo Gold
Project relative to other development assets. Osisko Development's
project pipeline is complemented by its 100% ownership of the San
Antonio gold project, located in Sonora, Mexico and the Tintic
Project, located in Utah, U.S.A.
For further
information, please
contact Osisko
Development:
Philip RabenokDirector, Investor
RelationsEmail: prabenok@osiskodev.com Tel: +1 (437)
423-3644
Forward Looking Statements
Certain statements contained in this news
release may be considered forward-looking information and/or
forward-looking statements (together, "forward-looking
statements") within the meaning of applicable Canadian
securities laws and the United States Private Securities Litigation
Reform Act of 1995. All statements, other than statements of
historical fact, are forward-looking statements and are based on
expectations, estimates and projections as at the date of this news
release. Any statement that involves discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives,
assumptions, future events or performance (often but not always
using phrases such as "expects", or "does not expect", "is
expected", "anticipates" or "does not anticipate", "plans",
"budget", "scheduled", "forecasts", "estimates", "believes" or
"intends" or variations of such words and phrases or stating that
certain actions, events or results "may" or "could", "would",
"might" or "will" be taken to occur or be achieved) are not
statements of historical fact and may be considered forward-looking
statements.
In this news release, forward-looking statements
relate, among other things, to: the prospects, projections and
success of the Corporation; the ability of the Company to complete
the Bulk Sample; the ability of the Company to demonstrate the
effectiveness of the Ore Sorting Facility, including the technology
proposed to be used; the benefits (if any) of the Ore Sorting
Facility on reducing processing costs, increasing gold recoveries
and reducing waste materials; our ability to define grade
continuity within the mineralized vein corridors; future gold
productions; the ability of exploration results (including
drilling) to accurately predict mineralization; future mining
activities; the ability of Osisko Development to identify mineral
resources at our properties; the ability of Osisko Development to
expand mineral resources beyond current mineral resource estimates;
the ability to adapt to changes in gold prices; estimates of costs,
estimates of planned exploration and development expenditures; the
ability of Osisko Development to obtain further capital on
reasonable terms; the profitability of our mining operations;
Osisko Development being well-positioned as a gold development
company in Canada, U.S.A. and Mexico; indicative valuations;
expected investor returns; mineral inventory; and estimates of gold
prices. All forward-looking statements entail various risks and
uncertainties that are based on current expectations and actual
results may differ materially from those contained in such
information.
Although Osisko Development believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements involve known and
unknown risks, uncertainties and other factors and are not
guarantees of future performance and actual results may accordingly
differ materially from those in forward-looking statements. These
uncertainties and risks relate, among other things, to: the
Company's ability to complete the Bulk Sample, including its
ability to fund such work; the effectiveness of unproven technology
or technological processes at Cariboo; the ability of exploration
activities (including drill results) to accurately predict
mineralization; the ability to realize upon geological modelling;
the ability of Osisko Development to complete further exploration
activities, including drilling; property interests in the assets of
Osisko Development; the ability of the results of exploration
activities; risks relating to mining activities; fluctuations in
spot and forward prices of gold, silver, base metals or certain
other commodities; fluctuations in currency markets (such as the
Canadian dollar to United States dollar exchange rate); change in
international, national and local government, legislation,
taxation, controls, regulations and political or economic
developments; risks and hazards associated with the business of
mineral exploration, development and mining (including
environmental hazards, industrial accidents, unusual or unexpected
formations pressures, cave-ins and flooding); inability to obtain
adequate insurance to cover risks and hazards; the presence of laws
and regulations that may impose restrictions on mining; employee
relations; relationships with and claims by local communities and
indigenous populations; availability of increasing costs associated
with mining inputs and labour; the speculative nature of mineral
exploration and development (including the risks of obtaining
necessary licenses, permits and approvals from government
authorities); and title to properties. However, there can be no
assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Investors are
cautioned that forward-looking statements are not guarantees of
future performance. Osisko Development cannot assure investors that
actual results will be consistent with these forward-looking
statements and investors should not place undue reliance on
forward-looking statements due to the inherent uncertainty
therein.
For additional information with respect to these
and other factors and assumptions underlying the forward‐looking
statements in this news release concerning Osisko Development,
please refer to the public disclosure record of Osisko Development,
including the restated annual information form of Osisko
Development for the year ended December 31, 2021 as amended, and
the most recent annual and interim financial statements and related
management's discussion and analysis of Osisko Development, which
are available on SEDAR (www.sedar.com) and EDGAR (www.sec.gov)
under Osisko Development's issuer profile. The forward‐looking
statements in this news release reflect management's expectations
as of the date of this news release and are subject to change after
such date. Osisko Development disclaims any intention or obligation
to update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, other than
as required by law.
This news release does not constitute an
offer to sell or a solicitation of an offer to buy any securities
in the United States or any other jurisdiction. No securities may
be offered or sold in the United States or in any other
jurisdiction in which such offer or sale would be unlawful prior to
registration under the U.S. Securities Act of 1933 or an exemption
therefrom or qualification under the securities laws of such other
jurisdiction or an exemption therefrom.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in
the policies of
the TSX Venture
Exchange) accepts
responsibility for
the adequacy or
accuracy of this
news release. No
stock exchange,
securities commission
or other
regulatory authority has
approved or disapproved the information contained
herein.
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