Osisko Development Intersects 19.81 g/t Au over 9.80 meters at Cariboo Gold Project, Shaft Zone
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Osisko Development Intersects 19.81 g/t Au over 9.80 meters at
Cariboo Gold Project, Shaft Zone
MONTREAL, June 22, 2022 – Osisko Development Corp. (“Osisko Development” or the “Company”) is
pleased to announce the remaining and final drilling results from the 2021 exploration and category
conversion drill campaign of its Cariboo Gold Project (“Cariboo”) in central British Columbia.
Summary
• Results released below are from holes IM-21-155 to IM-21-203. Figures 1 and 2 illustrate drillhole
location maps.
• A total of 60,272 meters were drilled in 163 holes at the Shaft Zone on Island Mountain in 2021. A
total of 10,355 m were drilled in 40 holes at Mosquito Creek on Island Mountain. The final Mosquito
Results were reported in a news release on December 7, 2021.
• All holes reported were collared on Shaft Zone, and six holes intersected the Valley Zone deposit
at depth, on the east side of the Jack of Clubs f ault. See Figure 2 for deposit outlines and Table 1
for detailed results.
• Shaft Zone highlights include 19.81 g/t Au over 9.80 meters in hole IM -21-184 including a high
grade sample of 193.00 g/t Au over 0.90 meter.
• Drillhole IM-21-201, collared on Shaft Zone, but drilling through to Valley zone at a depth of
391 meters down hole (250 meters from surface) intersected a mineralized vein corridor at Valley
that assayed 24.55 g/t Au over 9.65 meters including a high grade sample of 224.00 g/t Au over
0.55 meters.
• Additional high grade samples include 101.00 g/t Au over 0.50 meter, 159.00 g/t Au over
0.55 meter, 105.00 g/t Au over 0.50 meter, 104.00 g/t Au over 0.50 meter, 130.00 g/t Au over
0.80 meter, 102.50 g/t Au over 0.55 meter and 187.00 g/t Au over 0.60 meter.
• The drill results show continuity of vein corridors from Shaft Zone to Valley Zone along the south
east of Shaft , at depth and down plunge into Valley Zone. The Shaft and Valley Zones are
separated by the Jack of Clubs fault however mineralized vein corridors are continuous across the
fault within the prospective sandstone unit.
• Detailed drilling results and a drill hole location plan map are presented at the end of this release.
Assay Highlights
• 85.35 g/t Au over 1.00 meter in hole IM-21-155 including
• 101.00 g/t Au over 0.50 meter
• 18.80 g/t Au over 6.70 meters in hole IM-21-159 including
• 159.00 g/t Au over 0.55 meter
• 39.87 g/t Au over 1.65 meters in hole IM-21-159 including
• 53.50 g/t Au over 1.15 meters
• 33.44 g/t Au over 2.10 meters in hole IM-21-161 including
• 75.80 g/t Au over 0.90 meter
• 10.22 g/t Au over 7.90 meters in hole IM-21-165
• 12.35 g/t Au over 5.50 meters in hole IM-21-166 including
• 105.00 g/t Au over 0.50 meter
• 65.90 g/t Au over 0.90 meter in hole IM-21-166
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• 21.14 g/t Au over 5.70 meters in hole IM-21-170 including
• 104.00 g/t Au over 0.50 meter
• 37.76 g/t Au over 2.00 meters in hole IM-21-171 including
• 91.20 g/t Au over 0.70 meter
• 10.09 g/t Au over 5.00 meters in hole IM-21-171
• 54.04 g/t Au over 1.25 meters in hole IM-21-174 including
• 85.50 g/t Au over 0.75 meter
• 12.93 g/t Au over 4.75 meters in hole IM-21-176
• 14.10 g/t Au over 7.80 meters in hole IM-21-176
• 23.61 g/t Au over 5.80 meters in hole IM-21-176 including
• 130.00 g/t Au over 0.80 meter
• 30.43 g/t Au over 2.05 meters in hole IM-21-178
• 16.14 g/t Au over 3.35 meters in hole IM-21-181
• 26.94 g/t Au over 2.40 meters in hole IM-21-182 including
• 102.50 g/t Au over 0.55 meter
• 19.81 g/t Au over 9.80 meters in hole IM-21-184 including
• 193.00 g/t Au over 0.90 meter
• 58.60 g/t Au over 1.00 meter in hole IM-21-185
• 20.04 g/t Au over 4.75 meters in hole IM-21-190
• 40.70 g/t Au over 1.50 meters in hole IM-21-191
• 71.85 g/t Au over 2.05 meters in hole IM-21-192 including
• 187.00 g/t Au over 0.60 meter
• 24.55 g/t Au over 9.65 meters in hole IM-21-201 including
• 224.00 g/t Au over 0.55 meter and
• 68.90 g/t Au over 1.15 meters
Maggie Layman, Vice President of Exploration of Osisko Development commented: “We are pleased to
report the remaining drill results from our 2021 exploration and category conversion drill campaign. The
Shaft Zone and the Valley Zone are separated by the Jack of Clubs fault, a brittle fault structure striking
north east and dipping approximately 50 degrees to the west. The 2021 drill campaign indicated vein
corridors continuous on both sides of the fault and mineralized zones within the fault, indicating that the
Shaft Zone vein corridors continue down plunge within the sandsone and are currently modelled to a depth
of 560 meters from surface. The mineralized system remains open down plunge within the sandstone.”
Vein corridors are defined as high- density network s of mineralized quartz veins within the axis of the
deposit’s last folding event . These mineralized structures are predominantly hosted within a brittle meta-
sandstone or calcareous meta- sandstone. Vein corridors are modelled at a minimum thickness of
2.00 meters and average a pproximately 4.50 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 vein selvages.
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 and drill hole locations are listed in Table 2.
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Figure 1: Cariboo Gold Project areas overview map (mineralized zones are shown in red)
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Figure 2: Shaft and Valley 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 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 uniquely positioned as a premier gold development company in North
America to advance the Cariboo Gold Project and other properties in the USA and Mexico, 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 interest in the San Antonio gold project, located in Sonora, Mexico
and the Trixie gold test mine, located in Utah, U.S.A.
For further information about Osisko Development (ODV: TSX-V, NYSE), please visit
www.osiskodev.com or 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 news release may be deemed "forward-looking statements" within the
meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities legislation. 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 conditional, 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 management's perceptions of
historical trends, current conditions and expected future developments, results of further exploration work
to define and expand mineral resources, 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, and
any other information herein that is not a historical fact may be "forward looking information". Material
assumptions also include, management's perceptions of historical trends, current conditions and expected
future developments, results of further exploration work to define or expand any mineral resources, 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 capital market conditions, the ability to continue current production, regulatory framework, 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 stream interests in the Project; the ability of the Company to obtain required approvals; the
results of exploration activities; risks relating to exploration, development and 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. Readers are urged to consult the disclosure provided under the heading "Risk Factors" in
the Company's annual information form for the year ended December 31, 2021, as amended, which has
been filed on SEDAR (www.sedar.com) under Osisko Development's issuer profile and on the SEC's
EDGAR website (www.sec.gov), for further information regarding the risks and other factors applicable to
the exploration results. Although the Company's believes the expectations conveyed by the forward-looking
statements are reasonable based on information available at the date of preparation, no assurances can
be given as to future results, levels of activity and achievements. The Company disclaims any obligation to
update any forward-looking statements, whether as a result of new information, future events or results or
otherwise, except as required by law. There can be no assurance that these forward- looking statements
will prove to be accurate, as actual results and future events could differ materially from those anticipated
in such statements. Accordingly, readers should not place undue reliance on forward- looking statements.
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) MINERAL
ZONE
IM-21-155 272.00 273.00 1.00 85.35 Shaft
Including 272.50 273.00 0.50 101.00
392.90 393.70 0.80 7.56 Valley
399.50 401.30 1.80 4.56
Including 399.50 400.00 0.50 11.05
443.15 445.20 2.05 11.78
Including 443.15 443.75 0.60 21.70
and 444.70 445.20 0.50 22.10
450.15 450.65 0.50 8.95
455.80 457.20 1.40 33.13
Including 455.80 456.65 0.85 43.50
503.25 504.15 0.90 4.63
530.50 531.00 0.50 6.72
IM-21-156 No Significant Assays Shaft
IM-21-157 179.35 180.55 1.20 6.88 Shaft
Including 179.35 180.05 0.70 10.85
239.65 240.25 0.60 3.90
IM-21-158 100.10 101.30 1.20 17.65 Shaft
IM-21-159 47.70 50.20 2.50 3.70 Shaft
Including 48.20 48.70 0.50 9.89
101.00 101.50 0.50 4.76
124.40 124.90 0.50 4.84
137.25 137.90 0.65 5.22
154.20 154.70 0.50 10.55
163.70 164.20 0.50 15.65
185.00 191.70 6.70 18.80
Including 187.00 187.85 0.85 14.90
and 187.85 188.40 0.55 159.00
and 189.50 190.00 0.50 12.70
and 190.50 191.70 1.20 12.60
265.85 266.35 0.50 5.13
330.40 330.90 0.50 6.81
341.65 344.95 3.30 13.25
Including 341.65 342.70 1.05 38.70
and 344.45 344.95 0.50 5.76
364.85 366.50 1.65 39.87
Including 364.85 366.00 1.15 53.50
403.40 406.00 2.60 5.99
Including 405.00 405.50 0.50 13.15
409.90 413.00 3.10 3.87
IM-21-160 212.00 212.85 0.85 32.70 Shaft
247.35 248.10 0.75 5.28
258.85 263.00 4.15 5.23
Including 259.35 260.05 0.70 20.60
282.70 284.75 2.05 13.48
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Including 282.70 283.55 0.85 21.40
293.45 294.05 0.60 6.14
298.20 308.35 10.15 3.88
Including 298.20 298.70 0.50 11.70
and 303.35 304.70 1.35 8.56
and 306.00 306.50 0.50 6.61
IM-21-161 23.70 24.25 0.55 21.30 Shaft
154.30 154.80 0.50 4.23
161.00 164.70 3.70 6.95
Including 162.80 163.30 0.50 10.65
and 163.30 164.10 0.80 11.50
170.75 171.70 0.95 11.10
179.50 182.25 2.75 3.79
Including 180.15 180.95 0.80 5.56
and 181.70 182.25 0.55 6.40
200.80 202.90 2.10 33.44
Including 200.80 201.70 0.90 75.80
224.20 225.30 1.10 8.60
Including 224.70 225.30 0.60 13.75
249.50 250.00 0.50 5.55
288.05 288.55 0.50 22.30
343.00 343.50 0.50 11.15
357.00 357.50 0.50 24.60
362.50 363.00 0.50 7.23
IM-21-162 167.20 168.00 0.80 6.91 Shaft
182.50 183.00 0.50 5.33
228.50 229.00 0.50 9.71
264.60 266.25 1.65 3.49
Including 264.60 265.15 0.55 7.72
278.60 280.00 1.40 8.59
Including 278.60 279.40 0.80 13.10
IM-21-163 276.00 276.50 0.50 80.00 Shaft
352.00 353.20 1.20 22.75
Including 352.00 352.70 0.70 34.60
401.85 408.00 6.15 5.38
Including 403.40 403.90 0.50 9.38
448.30 448.95 0.65 3.74
473.20 480.00 6.80 4.72
Including 475.00 475.80 0.80 7.30
and 477.20 478.30 1.10 14.40
506.05 506.55 0.50 30.20
529.25 529.75 0.50 36.60
559.85 560.60 0.75 6.32
IM-21-164 Hole Abandoned
IM-21-165 135.20 136.00 0.80 11.00 Shaft
158.30 166.20 7.90 10.22
Including 158.30 158.80 0.50 7.24
and 159.50 160.10 0.60 79.50
and 162.60 163.10 0.50 32.60
and 164.80 165.50 0.70 9.31