Osisko Development Intersects 26.58 G/T Au over 5.05 Meters and 7.87 G/T Au over 10.25 Meters at Valley Zone
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OSISKO DEVELOPMENT INTERSECTS 26.58 G/T AU OVER 5.05 METERS AND 7.87 G/T
AU OVER 10.25 METERS AT VALLEY ZONE
MONTREAL, August 25, 2021 – Osisko Development Corp. (“Osisko Development” or the “Company”) (TSX.V-
ODV) is pleased to announce drilling results from the 200,000 -meter 2021 exploration and category conversion
drill program campaign at its Cariboo Gold Project (“Cariboo”) in central British Columbia. A total of nine diamond
drill rigs are currently active on the project.
Summary
A total of 120,000 meters have been drilled thus far in 2021 . Of that, 42,000 meters have been drilled in
the Valley Zone.
Recent assay results include holes CM-21-017 to CM-21-029 (Figure 1).
CM-21-019 intersected multiple mineralized vein corridors including 4.16 g/t Au over 11.85 meters and
8.97 g/t Au over 4.95 meters including a high-grade sample of 41.30 g/t Au over 0.50 meter.
CM-21-020 intersected a high-grade vein corridor that assayed 26.58 g/t Au over 5.05 meters including
high grade samples of 37.50 g/t Au over 0.90 meter, 58.90 g/t Au over 0.85 meter and 42.80 g/t Au
over 1.00 meter.
CM-21-024 intersected a vein corridor with visible gold and cosalite and assayed 7.87 g/t Au over 10.25
meters, including a sample of 45.30 g/t Au over 0.85 meter.
Detailed drilling results and a drill hole location plan map are presented at the end of this release.
Assay Highlights
33.90 g/t Au over 0.50 meter in hole CM-21-017
33.80 g/t Au over 0.50 meter in hole CM-21-018
4.16 g/t Au over 11.85 meters in hole CM-21-019
34.30 g/t Au over 0.50 meter in hole CM-21-019
8.97 g/t Au over 4.95 meters in hole CM-21-019 including
41.30 g/t Au over 0.50 meter
26.58 g/t Au over 5.05 meters in hole CM-21-020 including
37.50 g/t Au over 0.90 meter and
58.90 g/t Au over 0.85 meter and
42.80 g/t Au over 1.00 meter
5.39 g/t Au over 6.55 meters in hole CM-21-022
7.87 g/t Au over 10.25 meters in hole CM-21-024 including
45.30 g/t Au over 0.85 meters
5.19 g/t Au over 7.25 meters in hole CM-21-024
30.40 g/t Au over 0.50 meter in hole CM-21-025
39.80 g/t Au over 0.70 meter in hole CM-21-028
36.00 g/t Au over 0.80 meter in hole CM-21-028
34.70 g/t Au over 0.75 meters in hole CM-21-029
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Maggie Layman, Vice President of Exploration of Osisko Development commented, “Osisko currently has three
drill rigs in the Valley Zone, and as one of our top priority infill areas, these recent results show excellent continuity
of vein corridors in this deposit. Every hole has intersected high grade results.”
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 fo lding 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: 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, 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 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 for resource
October 5th, 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 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 Vent ure 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 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, incl uding 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, th at 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 t o 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 interes ts 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 Osisko Developm ent 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 accu racy 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)
CM-21-017 22.00 22.50 0.50 6.29
39.35 40.00 0.65 6.49
77.00 77.50 0.50 6.33
171.30 172.50 1.20 3.94
224.00 228.65 4.65 5.44
Including 224.00 224.50 0.50 33.90
and 228.00 228.65 0.65 10.95
307.25 308.00 0.75 3.31
323.60 326.00 2.40 6.73
Including 323.60 325.10 1.50 8.34
366.80 367.80 1.00 10.95
438.40 439.00 0.60 7.59
CM-21-018 136.10 136.60 0.50 14.25
170.55 171.25 0.70 3.52
173.25 174.40 1.15 5.59
276.30 281.15 4.85 3.14
285.25 286.75 1.50 3.26
302.75 303.25 0.50 33.80
360.00 361.50 1.50 4.51
CM-21-019 72.15 84.00 11.85 4.16
Including 73.20 74.25 1.05 17.60
and 75.65 76.80 1.15 11.85
and 83.00 84.00 1.00 7.56
131.50 135.60 4.10 3.00
Including 131.50 132.00 0.50 5.52
and 135.00 135.60 0.60 15.55
292.25 292.75 0.50 34.30
301.05 306.00 4.95 8.97
Including 301.05 301.80 0.75 10.85
and 301.80 302.30 0.50 11.75
and 305.50 306.00 0.50 41.30
311.00 325.00 14.00 3.52
Including 316.50 317.50 1.00 9.11
and 317.50 318.60 1.10 12.30
and 324.50 325.00 0.50 10.10
CM-21-020 18.00 22.50 4.50 5.45
Including 18.00 19.00 1.00 15.80
and 20.50 21.00 0.50 4.67
and 22.00 22.50 0.50 11.95
97.45 98.00 0.55 4.53
167.80 168.30 0.50 4.01
170.50 171.00 0.50 10.40
171.50 172.10 0.60 5.58
182.00 182.50 0.50 7.52
296.10 301.15 5.05 26.58
Including 296.10 297.00 0.90 37.50
and 297.00 297.85 0.85 58.90
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and 298.35 299.35 1.00 42.80
CM-21-021 164.00 168.00 4.00 4.04
Including 164.00 164.60 0.60 17.95
and 164.60 165.45 0.85 4.58
193.40 205.25 11.85 2.97
Including 201.95 202.75 0.80 5.53
and 202.75 203.75 1.00 12.95
and 204.75 205.25 0.50 15.10
244.90 247.40 2.50 9.42
Including 246.00 247.40 1.40 13.25
299.20 305.00 5.80 4.29
Including 299.85 301.10 1.25 8.56
and 301.10 302.15 1.05 10.55
315.60 316.50 0.90 14.45
336.30 337.10 0.80 5.41
CM-21-022 75.15 81.00 5.85 4.83
Including 76.65 78.00 1.35 11.10
259.50 261.00 1.50 6.42
313.50 314.00 0.50 8.08
321.50 322.00 0.50 9.12
326.90 327.50 0.60 7.15
330.00 336.55 6.55 5.39
Including 334.40 334.90 0.50 9.95
and 335.50 336.55 1.05 14.25
355.00 355.50 0.50 3.80
358.00 361.20 3.20 4.55
Including 359.20 360.20 1.00 9.10
368.80 376.65 7.85 4.38
Including 369.90 371.00 1.10 7.74
and 374.50 375.50 1.00 6.33
and 375.50 376.65 1.15 7.64
384.70 386.05 1.35 9.85
CM-21-023 27.10 27.80 0.70 3.32
33.90 35.05 1.15 8.08
54.90 55.90 1.00 6.77
82.50 83.00 0.50 8.33
90.20 93.70 3.50 7.19
Including 90.20 91.10 0.90 17.35
and 93.20 93.70 0.50 16.25
CM-21-024 22.70 23.40 0.70 5.36
45.15 46.00 0.85 9.79
59.10 59.85 0.75 5.42
92.00 92.60 0.60 4.37
254.45 255.55 1.10 3.00
280.25 290.50 10.25 7.87
Including 282.20 283.05 0.85 45.30
and 283.05 283.55 0.50 13.35
and 284.65 285.50 0.85 13.65
and 286.20 287.00 0.80 18.30
312.25 313.85 1.60 8.05