Osisko Development Intersects 158.40 G/T Au over 7.75 Meters Including 2,420 G/T Au over 0.50 Meter at Lowhee Zone
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OSISKO DEVELOPMENT INTERSECTS 158.40 G/T AU OVER 7.75 METERS
INCLUDING 2,420 G/T AU OVER 0.50 METER AT LOWHEE ZONE
MONTREAL, October 26, 2021 – Osisko Development Corp. (“Osisko Development” or the “Company”)
(TSX.V-ODV) is pleased to announce drilling results from the 2021 exploration and category conversion
drill program campaign at its Cariboo Gold Project (“Cariboo”) in central British Columbia.
Summary
• A total of 152,000 meters were drilled in 2021, of which 28,000 meters and 92 holes were drilled
at Lowhee Zone on Barkerville Mountain.
• Recent assay results include holes BM-21-037 to BM-21-051 (Figure 1).
• BM-21-047 intersected a mineralized vein corridor from 121.00 meters to 128.75 meters core depth
and assayed 158.40 g/t Au over 7.75 m eters including a sample with visible gold that assayed
2,420.00 g/t Au over 0.50 meter (Figure 2).
• BM-21-049, located 130 meters along strike from BM-21-047, returned assays of 19.03 g/t Au over
15.20 meters including a sample of 482.00 g/t Au over 0.50 meter.
• Other samples over 100.00 g/t Au include 157.50 g/t Au over 0.50 meter in hole BM-21-039 and
103.50 g/t Au over 1.00 meter in hole BM-21-046.
• Detailed drilling results and a drill hole location plan map are presented at the end of this release.
Assay Highlights
• 6.77 g/t Au over 9.05 meters in hole BM-21-037 including
• 70.40 g/t Au over 0.70 meter
• 26.80 g/t Au over 0.55 meter in hole BM-21-038
• 157.50 g/t Au over 0.50 meter in hole BM-21-039
• 16.46 g/t Au over 7.15 meters in hole BM-21-046 including
• 103.50 g/t Au over 1.00 meter
• 158.40 g/t Au over 7.75 meters in hole BM-21-047 including
• 2,420.00 g/t Au over 0.50 meter
• 27.60 g/t Au over 0.80 meter in hole BM-21-047
• 38.70 g/t Au over 0.60 meter in hole BM-21-048
• 9.81 g/t Au over 3.50 meters in hole BM-21-049 including
• 60.30 g/t Au over 0.50 meter
• 19.03 g/t Au over 15.20 meters in hole BM-21-049 including
• 482.00 g/t Au over 0.50 meter
• 29.70 g/t Au over 0.50 meter in hole BM-21-051
• 42.70 g/t Au over 0.55 meter in hole BM-21-051
• 32.20 g/t Au over 0.70 meter in hole BM-21-051
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Sean Roosen, CEO of Osisko Development commented, “ These exceptional results from Lowhee Zone
continue to increase our confidence in this deposit and add additional exploration potential along strike to
the southeast towards KL zone, where is there a currently 1,300 meters of untested ground on Barkerville
Mountain alone.”
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.
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Figure 1: Cariboo deposit areas overview map
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Figure 2: Lowhee Zone select drilling highlights
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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 preparation and anal ysis. 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 pul verized. 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 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 c onsiderable 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 Exc hange under the symbol “ ODV” on
December 2, 2020.
For further information, please contact Osisko Development Corp.:
Jean Francois Lemonde
VP Investor 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 Development to make certain assumptions and necessarily involve known and
unknown risks and uncertainties that could cause actual results to differ materially 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 c onditional, are intended to identify forward ‐looking statements. Information contained in
forward‐looking statements is based upon certain material assumptions that were applied in drawing a
conclusion or making a forecast or projection, including manageme nt’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 last folding event 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 Development
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
Development, may ultimately prove to be incorrect since they are subject to risks and uncertainties that
affect Osisko Development and its business. Such risks and uncertainties include, among others, risks
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 royalty 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 r esponses 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 concer ning 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 Osisko 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 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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Table 1: Cariboo Gold Project 2021 Length Weighted Drill Hole Gold Composites
HOLE ID FROM M TO (M) LENGTH
(M) AU (G/T)
BM-21-037 26.70 27.20 0.50 3.16
30.25 30.75 0.50 3.46
48.45 49.70 1.25 7.19
Including 49.20 49.70 0.50 11.55
110.75 111.30 0.55 18.70
151.95 161.00 9.05 6.77
Including 153.70 154.40 0.70 70.40
and 160.10 161.00 0.90 11.45
183.00 183.50 0.50 6.32
255.50 257.10 1.60 12.26
Including 255.50 256.05 0.55 20.50
and 256.55 257.10 0.55 15.05
BM-21-038 198.40 199.15 0.75 5.93
247.05 253.25 6.20 4.07
Including 247.05 247.80 0.75 9.94
and 252.70 253.25 0.55 26.80
261.50 262.20 0.70 23.80
285.00 285.50 0.50 4.56
290.60 294.60 4.00 6.45
Including 290.60 291.10 0.50 17.40
and 293.10 293.60 0.50 22.50
428.40 429.00 0.60 6.83
BM-21-039 48.40 51.30 2.90 7.69
Including 48.40 49.45 1.05 20.30
126.25 126.75 0.50 6.71
139.45 139.95 0.50 8.85
175.75 178.15 2.40 3.02
Including 175.75 176.30 0.55 7.29
204.65 205.20 0.55 4.53
236.20 237.40 1.20 3.97
253.10 253.60 0.50 157.50
BM-21-040 199.15 199.65 0.50 22.70
255.85 256.35 0.50 7.95
267.40 267.90 0.50 4.10
BM-21-041 44.55 45.15 0.60 10.50
58.20 58.70 0.50 9.84
73.30 74.30 1.00 8.10
146.90 147.40 0.50 7.17
BM-21-042 52.25 52.75 0.50 10.00
64.10 64.60 0.50 9.02
118.30 118.80 0.50 8.23
130.50 131.00 0.50 4.38
160.30 161.50 1.20 6.45
176.00 177.00 1.00 10.57
Including 176.50 177.00 0.50 14.10
209.00 210.10 1.10 8.45
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Including 209.00 209.60 0.60 13.40
283.50 285.00 1.50 3.27
BM-21-043 171.00 171.70 0.70 22.30
200.50 201.05 0.55 5.80
260.45 261.10 0.65 8.96
292.45 293.05 0.60 7.51
BM-21-044 52.50 54.00 1.50 4.84
60.00 60.60 0.60 6.26
65.50 68.50 3.00 7.27
Including 65.50 66.00 0.50 9.25
and 66.50 67.00 0.50 19.50
77.00 77.50 0.50 6.68
134.25 134.75 0.50 7.15
147.50 148.00 0.50 10.55
167.50 169.00 1.50 3.72
204.10 204.70 0.60 7.63
274.00 274.60 0.60 19.55
287.00 288.20 1.20 4.74
BM-21-046 193.85 201.00 7.15 16.46
Including 196.35 197.45 1.10 9.58
and 197.45 198.45 1.00 103.50
220.65 221.40 0.75 14.30
255.35 256.10 0.75 22.10
287.25 287.75 0.50 51.20
298.00 298.50 0.50 5.64
BM-21-047 22.20 22.70 0.50 4.41
37.45 37.95 0.50 16.95
121.00 128.75 7.75 158.40
Including 124.40 124.90 0.50 2420.00
and 126.40 126.90 0.50 13.20
192.00 194.90 2.90 8.68
Including 192.00 192.80 0.80 27.60
253.35 255.80 2.45 11.13
Including 253.35 254.10 0.75 12.15
and 254.80 255.80 1.00 15.75
271.80 273.90 2.10 4.50
Including 271.80 272.45 0.65 8.59
BM-21-048 162.30 162.80 0.50 18.25
181.00 182.85 1.85 13.78
Including 181.55 182.15 0.60 38.70
187.65 191.70 4.05 6.63
Including 187.65 188.25 0.60 16.55
and 191.15 191.70 0.55 13.75
217.70 219.00 1.30 9.23
Including 217.70 218.25 0.55 12.25
235.75 236.35 0.60 3.62
281.50 282.00 0.50 4.11
284.90 285.40 0.50 13.80
BM-21-049 108.25 111.75 3.50 9.81
Including 109.60 110.10 0.50 60.30