Osisko Development Intersects 10.93 G/T GOLD over 12.0 Meters at Valley Zone Drilling ON Cariboo GOLD Project
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OSISKO DEVELOPMENT INTERSECTS 10.93 G/T GOLD OVER 12.0 METERS AT
VALLEY ZONE DRILLING ON CARIBOO GOLD PROJECT
MONTREAL, April 12, 2021 – Osisko Development Corp. (“Osisko Development” or the “ Company”)
(TSX.V-ODV) is pleased to announce drilling results from the category conversion drill program campaign
at its Cariboo Gold Project (“Cariboo”) in central British Columbia.
This news release states the assay results from holes CM-20-086 to CM-20-099 drilled in the Valley Zone
in 2020 (Figures 1 and 2). Highlights include 10.81 g/t Au over 6.8 meters including 100.50 g/t Au over
0.5 meter in hole CM-20-086 and 10.93 g/t Au over 12.0 meters in hole CM-20-089. The drilling hole CM-
20-089 confirmed anomalous gold values within multiple modelled vein corridors as shown in Figure 3 and
extended a vein corridor down dip an additional 35 meters. Complete assay highlights are presented in
Table 1. A total of ten rigs are currently active on the property, four of which are at the Valley Zone deposit.
Chris Lodder , President of Osisko Development commented, “ Drilling in the Valley Zone continues to
confirm and expand the known vein corridors down dip and along strike. In light of recent highly positive
drill results and the recent closing of the Flow Through financing, Osisko Development has expanded its
2021 Cariboo drill program to 200,000 meters and will actively bring further regional targets to drill stage.
Further highlights from drilling at Valley Zone are presented below.
Valley Zone Drilling Highlights:
CM-20-086: 10.81 g/t Au over 6.80 meters including 100.5 g/t Au over 0.50 meter
CM-20-089: 10.93 g/t Au over 12.0 meters including 97.8 g/t Au over 0.80 meter
CM-20-093: 4.28 g/t Au over 7.80 meters
CM-20-093: 43.40 g/t Au over 1.00 meter
CM-20-093: 23.50 g/t Au over 0.75 meter
CM-20-096: 13.35 g/t Au over 3.50 meters
CM-20-098: 6.23 g/t Au over 10.40 meters including 46.0 g/t Au over 1.00 meter
CM-20-099: 5.99 g/t Au over 4.85 meters including 23.0 g/t Au over 0.55 meter
CM-20-099: 4.19 g/t Au over 6.00 meters
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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 F3 fold and hosted
within the sandstones. Vein corridors are modelled at a minimum thickness of 2 meters and individual
veins within each corridor range in width from mil limeter to several metersThese corridors have been
defined from surface to a vertical depth averaging 300 meters and remain open for expansion at depth. Gold
grades are intimately associated with 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 ass ay
highlights are presented in Table 1, drill hole locations are listed in Table 2.
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Figure 1: Cariboo Deposit Areas
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Figure 2: Valley Zone plan map of drill hole locations
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Figure 3: Drill hole Cross Section.
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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 (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 p reparation 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, a nd 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. 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 second half of 2021. 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 Qué bec 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.
For further information, please contact Osisko Development Corp.:
Jean Francois Lemonde
VP Investors Relations
Tel: 514-299-4926
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Forward-looking Statements
Certain statements contained in this press release may be deemed “forward‐looking statements” within the
meaning of applicable Canadian and U.S. securities laws. These forward ‐looking statements, by their
nature, require Osisko to make certain assumptions and necessarily involve known and unknown risks and
uncertainties that could cause actual results to differ material ly from those expressed or implied in these
forward‐looking statements. Forward‐looking statements are not guarantees of performance. Words such
as “may”, “will”, “would”, “could”, “expect”, “believe”, “plan”, “anticipate”, “intend”, “estimate”, “continue ”, or
the negative or comparable terminology, as well as terms usually used in the future and the conditional, are
intended to identify forward ‐looking statements. Information contained in forward ‐looking statements is
based upon certain material assumptio ns that were applied in drawing a conclusion or making a forecast
or projection, including management’s perceptions of historical trends, current conditions and expected
future developments, results of further exploration work to define and expand mineral resources, expected
conclusions of optimization studies, that vein corridors continue to be defined as a high -density network of
mineralized quartz within the axis of the F3 fold and hosted within the sandstones and that the deposit
remains open for expansion at depth and down plunge, as well as other considerations that are believed to
be appropriate in the circumstances. Osisko considers its assumptions to be reasonable based on
information currently available, but cautions the reader that their assumptions regarding future events, many
of which are beyond the control of Osisko, may ultimately prove to be incorrect since they are subject to
risks and uncertainties that affect Osisko and its business. Such risks and uncertainties include, among
others, risk s relating to the ability of exploration activities (including drill results) to accurately predict
mineralization; errors in management’s geological modelling; the ability of to complete further exploration
activities, including drilling; property and roy alty interests in the Cariboo gold deposit; the ability of the
Corporation to obtain required approvals; the results of exploration activities; risks relating to mining
activities; the global economic climate; metal prices; dilution; environmental risks; and community and non-
governmental actions and the responses of relevant governments to the COVID -19 outbreak and the
effectiveness of such responses.
For additional information with respect to these and other factors and assumptions underlying the forward ‐
looking statements made in this news release concerning Osisko Development, see the Filing Statement
available electronically on SEDAR (www.sedar.com) under Osisko Development's issuer profile. The
forward‐looking statements set forth herein concerning Osi sko Development reflect management's
expectations as at 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.
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 adeq uacy or accuracy of
this news release. No stock exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
Table 1: Cariboo Gold Project 2020 Length Weighted Drill Hole Gold Composites
HOLE ID FROM (M) TO (M)
LENGTH
(M) AU G/T
CM-20-086 204.80 205.30 0.50 4.61
247.15 247.70 0.55 3.67
248.80 249.30 0.50 8.62
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254.20 261.00 6.80 10.81
INCLUDING 256.75 257.25 0.50 15.80
AND 260.50 261.00 0.50 100.50
314.75 315.25 0.50 3.61
CM-20-087 ABANDONED
CM-20-088
NO SIGNIFICANT
ASSAYS
CM-20-089 87.25 87.75 0.50 9.17
173.00 174.00 1.00 5.34
222.50 223.00 0.50 7.59
270.35 270.85 0.50 18.70
270.85 271.50 0.65 8.99
304.50 316.50 12.00 10.93
INCLUDING 308.70 309.30 0.60 16.50
AND 310.25 310.75 0.50 28.60
AND 311.25 312.05 0.80 97.80
AND 314.90 315.40 0.50 9.17
336.00 340.50 4.50 4.26
INCLUDING 337.50 338.25 0.75 9.97
AND 338.25 339.00 0.75 10.30
CM-20-090 233.40 234.00 0.60 12.10
244.50 245.50 1.00 11.35
337.40 338.25 0.85 43.70
341.15 341.70 0.55 3.21
CM-20-091 36.10 37.10 1.00 4.03
156.90 159.50 2.60 4.35
INCLUDING 157.50 158.50 1.00 6.70
170.00 171.00 1.00 3.34
171.60 173.00 1.40 3.30
177.90 178.85 0.95 13.40
195.25 195.75 0.50 5.40
CM-20-092 90.60 91.25 0.65 6.46
CM-20-093 223.00 223.50 0.50 3.49
226.60 234.40 7.80 4.28
INCLUDING 226.60 227.20 0.60 18.50
AND 228.00 229.00 1.00 6.03
AND 231.00 232.00 1.00 5.16
AND 233.90 234.40 0.50 20.10
239.00 239.70 0.70 9.64
245.00 246.00 1.00 43.40
249.55 250.30 0.75 23.50
328.00 329.00 1.00 5.30
466.00 466.50 0.50 15.80