Osisko Development Intersects 22.76 G/T GOLD over 7 Meters and 7.73 G/T GOLD over 13 Meters ON Island and Cow Deposits Infill and Expansion Drilling
OSISKO DEVELOPMENT INTERSECTS 22.76 G/T GOLD OVER 7 METERS AND
7.73 G/T GOLD OVER 13 METERS ON ISLAND AND COW DEPOSITS INFILL AND
EXPANSION DRILLING
MONTREAL, April 27, 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 discusses the final assay results from the 2020 exploration and delineation drill campaign
on Valley (Cow Mountain), Mosquito and Shaft Zones (Island Mountain) and includes holes CM-20-100 to
CM-20-105 and IM-20-036 to IM-20-061 (Table 1). Detailed drilling results, drill hole location plan maps and
vertical sections are presented at the end of this release. The infill drilling results continue to demonstrate
continuity and expansion of modelled vein corridors. Drilling highlights include 6.97 g/t Au over 6.50 g/t Au
and 7.73 g/t Au over 13.00 meters in hole CM-20-100. Hole CM-20-100 confirmed anomalous gold values
within multiple modelled vein corridors (Figure 2). On Island Mountain, Shaft Zone highlights included 11.48
g/t Au over 8.35 meters in hole IM-20-039 and on Mosquito Creek Zone 22.76 g/t Au over 7.00 meters
in hole IM-20-053 (Figure 3). The modelled vein corridors remain open at depth and are currently being
drill tested with four diamond drill rigs. A total of ten rigs are currently active on Cariboo.
Chris Lodder , President of Osisko Development commented, “ These consistent drill results continue to
demonstrate the strong potential for resource conversion within the Valley Zone and on the Island Mountain
deposits which remain open along strike and at depth . Importantly, the Valley Zone’s present dimensions
are starting to compare to the Shaft zone which host the majority of our present resources in the Cariboo
Gold Project”.
Further highlights from drilling are presented below.
Recent Drilling Highlights:
CM-20-100: 6.97 g/t Au over 6.50 meters
CM-20-100: 7.73 g/t Au over 13.00 meters including 35.50 g/t Au over 0.85 meter
CM-20-101: 30.70 g/t Au over 1.35 meters
CM-20-102: 5.62 g/t Au over 9.45 meters including 28.10 g/t Au over 0.50 meter
IM-20-037: 7.14 g/t Au over 5.05 meters
IM-20-037: 15.45 g/t Au over 4.50 meters including 56.20 g/t Au over 0.50 meter
IM-20-039: 17.84 g/t Au over 4.30 meters including 42.30 g/t Au over 1.25 meters
IM-20-039: 11.48 g/t Au over 8.35 meters including 66.50 g/t Au over 0.65 meter
IM-20-041: 7.18 g/t Au over 4.75 meters
IM-20-043: 12.36 g/t Au over 6.75 meters including 40.60 g/t Au over 0.75 meter
IM-20-050: 46.60 g/t Au over 0.85 meter
IM-20-053: 22.76 g/t Au over 7.00 meters including 47.00 g/t Au over 1.50 meters
IM-20-053: 24.73 g/t Au over 2.50 meters including 59.70 g/t Au over 1.00 meter
IM-20-059: 28.10 g/t Au over 1.50 meter
IM-20-059: 9.31 g/t Au over 6.00 meters
IM-20-061: 23.70 g/t Au over 1.50 meters
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 last folding
event’s folds 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 me ters. 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.
Figure 1: Cariboo Deposit Areas with drill locations
Figure 2: Valley Zone drill hole cross section CM-20-100
Figure 3: Mosquito Creek drill hole cross section IM-20-053
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, labelle d 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 Plasm a 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 wit h measured and indicated
resources of 21.44 Mt at 4.6 0 Au g/t for a total of 3.2 0 million ounces of gold and inferred resource of
21.69 Mt at 3.90 Au g/t for a total of 2.70 million ounces of gold (see NI 43-101 Technical Report for resource
October 5 th, 2020). 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 Sa n
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 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
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 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 , including management’s assessment of drill and assay
results. Information contained in forward ‐looking statements is based upon certain material assumpt ions
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 minera l 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’s fold and hosted within the sandstones and that the deposit rem ains 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, 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; en vironmental 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 h erein 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 respons ibility 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.
Table 1: Cariboo Gold Project 2020 Length Weighted Drill Hole Gold Composites
HOLE ID
FROM
M TO (M)
LENGTH
(M) AU G/T TARGET
CM-20-100 23.50 24.00 0.50 19.80 VALLEY
84.00 85.00 1.00 5.19
193.00 199.50 6.50 6.97
INCLUDING 193.00 193.50 0.50 35.90
AND 195.00 195.50 0.50 25.00
AND 199.00 199.50 0.50 17.20
323.30 336.30 13.00 7.73
INCLUDING 323.30 323.80 0.50 7.79
AND 324.30 325.30 1.00 30.40
AND 327.40 328.25 0.85 35.50
AND 332.00 332.50 0.50 8.05
AND 334.00 335.00 1.00 11.20
AND 335.00 335.60 0.60 11.00
AND 335.60 336.30 0.70 7.40
CM-20-101 80.00 80.50 0.50 3.46 VALLEY
88.15 88.65 0.50 8.00
96.00 96.70 0.70 5.21
155.00 155.50 0.50 4.27
196.00 197.00 1.00 3.01
214.60 215.95 1.35 30.70
CM-20-102 132.65 133.15 0.50 12.25 VALLEY
212.00 212.55 0.55 7.67
222.50 223.00 0.50 29.80
229.00 229.50 0.50 17.70
252.35 253.00 0.65 11.85
312.60 313.50 0.90 7.27
341.50 350.95 9.45 5.62
INCLUDING 341.50 342.00 0.50 28.10
AND 349.15 349.80 0.65 17.70
AND 349.80 350.95 1.15 19.50
367.70 369.70 2.00 3.44
393.50 394.75 1.25 5.53
CM-20-103 231.00 231.65 0.65 3.39 VALLEY
CM-20-104 HOLE ABANDONED VALLEY
CM-20-105 159.00 159.50 0.50 7.76 VALLEY
163.65 164.15 0.50 6.31
189.10 189.60 0.50 15.00
IM-20-036 103.00 105.50 2.50 5.96 MOSQUITO
INCLUDING 104.00 105.00 1.00 9.68
126.85 127.40 0.55 6.94
141.65 143.00 1.35 20.80
152.35 153.50 1.15 3.83
IM-20-037 107.30 108.50 1.20 5.57 MOSQUITO
INCLUDING 108.00 108.50 0.50 9.29
178.35 183.40 5.05 7.14
INCLUDING 178.35 178.90 0.55 9.07
AND 181.00 181.80 0.80 20.40
AND 182.30 182.90 0.60 16.75
218.20 218.70 0.50 3.18
221.70 226.20 4.50 15.45
INCLUDING 221.70 222.20 0.50 9.25
AND 222.70 223.20 0.50 37.10
AND 223.70 224.20 0.50 8.96
AND 224.70 225.20 0.50 56.20