Osisko Development Intersects 20.40 G/T Au over 6.55 Meters, 117.00 G/T Au over 0.90 Meter and 155.50 G/T Au over 0.50 Meter ON Island Mountain
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OSISKO DEVELOPMENT INTERSECTS 20.40 G/T AU OVER 6.55 METERS, 117.00
G/T AU OVER 0.90 METER AND 155.50 G/T AU OVER 0.50 METER ON ISLAND
MOUNTAIN
MONTREAL, October 19, 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. A total of 6
diamond drill rigs are currently active on the Project.
Summary
• A total of 147,000 meters have been drilled thus far in 2021, of which 10,000 meters were drilled
at Mosquito and 58,000 drilled at Shaft.
• Recent assay results include holes IM-21-087 to IM -21-101 from Mosquito and Shaft Zones on
Island Mountain (Figure 1).
• IM-21-089 intersected 20.40 g/t Au over 6.55 meters at Shaft Zone and included high grade
samples of 92.30 g/t Au over 0.60 meter , 50.70 g/t Au over 0.60 meter , 28.10 g/t Au over 0.60
meter and 22.40 g/t Au over 1.25 meters.
• IM-21-090 tested both Shaft and Valley Zones, intersected multiple mineralized vein corridors in
both zones including 48.10 g/t Au over 2.40 meters with 117.0 g/t Au over 0.90 meter on the Shaft
Zone and 5.50 g/t Au over 12.25 meters including 54.5 g/t Au over 0.90 meter on the Valley Zone.
• Detailed drilling results and a drill hole location plan map are presented at the end of this release.
Assay Highlights
• 15.48 g/t Au over 3.40 meters in hole IM-21-088 including
• 28.80 g/t Au over 0.80 meter
• 20.40 g/t Au over 6.55 meters in hole IM-21-089 including
• 92.30 g/t Au over 0.60 meter and
• 50.70 g/t Au over 0.60 meter
• 48.10 g/t Au over 2.40 meters in hole IM-21-090 including
• 117.00 g/t Au over 0.90 meter
• 5.50 g/t Au over 12.25 meters in hole IM-21-090 including
• 54.50 g/t Au over 0.90 meter
• 97.40 g/t Au over 0.50 meter in hole IM-21-092
• 63.40 g/t Au over 0.50 meter in hole IM-21-092
• 9.85 g/t Au over 5.80 meters in hole IM-21-093 including
• 37.80 g/t Au over 1.15 meters
• 8.27 g/t Au over 6.30 meters in hole IM-21-097
• 34.03 g/t Au over 1.00 meter in hole IM-21-097 including
• 48.70 g/t Au over 0.50 meter
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• 49.40 g/t Au over 0.80 meter in hole IM-21-097
• 35.68 g/t Au over 2.25 meters in hole IM-21-097 including
• 155.50 g/t Au over 0.50 meter
• 6.23 g/t Au over 6.50 meters in hole IM-21-097 including
• 30.50 g/t Au over 1.00 meter
• 16.39 g/t Au over 2.70 meters in hole IM-21-098 including
• 52.60 g/t Au over 0.50 meter
• 7.61 g/t Au over 4.15 meters in hole IM-21-101
Chris Lodder, President of Osisko Development commented, “Drilling from the Shaft Zone over to the Valley
Zone has allowed us to intersect multiple deposits with one hole, and to explore along strike at Shaft zone
while testing down dip at Valley Zone. These recent results from holes IM-21-090 and IM-21-097 indicate
continuity between the two zones and significant expansion potential.
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: Mosquito Creek Zone select drilling highlights
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Figure 3: Shaft 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 V ancouver, 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 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 (see NI 43-101 Technical Report and mineral resource
estimate effective October 5th, 2020) . The considerable explorat ion 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 i n 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 Exchange 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 ma ke 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, including with respect to 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 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 iss uer 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) TARGET
IM-21-087 10.30 11.50 1.20 3.22 Shaft
113.50 114.00 0.50 7.94
133.50 138.00 4.50 4.22
Including 133.50 134.45 0.95 7.37
and 137.35 138.00 0.65 16.90
162.00 162.75 0.75 4.00
IM-21-088 154.00 155.00 1.00 5.75 Mosquito
172.00 174.00 2.00 6.37
Including 172.00 173.00 1.00 8.16
and 173.00 173.50 0.50 7.90
205.80 206.30 0.50 4.37
209.60 213.00 3.40 15.48
Including 210.35 211.00 0.65 17.15
and 211.00 211.50 0.50 15.75
and 211.50 212.30 0.80 28.80
238.90 239.40 0.50 19.85
260.00 260.65 0.65 5.98
268.20 268.90 0.70 8.10
274.40 274.90 0.50 3.18
307.40 307.90 0.50 21.70
314.00 314.55 0.55 3.46
IM-21-089 12.00 12.85 0.85 5.52 Shaft
31.20 37.75 6.55 20.40
Including 31.20 31.80 0.60 92.30
and 31.80 32.40 0.60 50.70
and 34.40 35.00 0.60 28.10
and 35.50 36.75 1.25 22.40
42.60 43.35 0.75 5.98
44.60 45.10 0.50 4.18
180.45 181.70 1.25 3.99
214.30 214.90 0.60 14.65
IM-21-090 200.60 203.00 2.40 48.10 Shaft
Including 201.50 202.40 0.90 117.00
288.10 291.30 3.20 4.39
Including 288.10 289.50 1.40 9.46
303.90 304.90 1.00 3.56
311.15 312.00 0.85 13.15
342.50 343.10 0.60 5.34
386.00 388.00 2.00 6.16 Valley
Including 386.95 387.45 0.50 22.90
400.50 406.10 5.60 4.71
Including 400.50 401.25 0.75 7.16