Osisko Development Intersects 50.11 G/T Au over 7.50 Meters Including 630 G/T Au over 0.55 Meter at Lowhee Zone
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OSISKO DEVELOPMENT INTERSECTS 50.11 G/T AU OVER 7.50 METERS
INCLUDING 630 G/T AU OVER 0.55 METER AT LOWHEE ZONE
MONTREAL, January 12, 2022 – 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 campaign at its Cariboo Gold Project (“Cariboo”) in central British Columbia.
Summary
• A total of 28,000 meters were drilled in 92 holes at Lowhee Zone on Barkerville Mountain in 2021.
• Recent assay results include holes BM-21-052 to BM-21-080 (Figure 1 & 2).
• BM-21-072 intersected a mineralized vein corridor with visible gold and co salite that assayed
50.11 g/t Au over 7.50 meters including high grade samples of 630.00 g/t Au over 0.55 meter and
48.80 g/t Au over 0.55 meter.
• BM-21-062 assayed 227.0 0 g/t Au over 0.50 meter, located in the southeastern portion of the
Lowhee Zone, further indicating exploration potential outside of the known veins.
• BM-21-071 intersected mineralized vein corridors of 21.35 g/t Au over 6.75 meters including a
sample of 61.40 g/t Au over 0.85 meter within a modelled vein corridor.
• Additional high grade samples include 89.90 g/t Au over 0.60 meter in hole BM-21-056, 95.10 g/t
Au over 0.70 meter in hole BM-21-058 and 94.00 g/t Au over 0.50 meter in hole BM-21-069.
• Detailed drilling results and a drill hole location plan map are presented at the end of this release.
Assay Highlights
• 57.10 g/t Au over 0.50 meter in hole BM-21-052 including
• 46.60 g/t Au over 0.50 meter
• 10.51 g/t Au over 5.65 meters in hole BM-21-053
• 10.18 g/t Au over 4.65 meters in hole BM-21-053 including
• 45.50 g/t Au over 0.70 meter
• 23.90 g/t Au over 1.45 meters in hole BM-21-053
• 51.10 g/t Au over 0.50 meter in hole BM-21-054
• 13.62 g/t Au over 3.00 meters in hole BM-21-056 including
• 55.10 g/t Au over 0.50 meter
• 7.42 g/t Au over 4.30 meters in hole BM-21-056
• 89.90 g/t Au over 0.60 meter in hole BM-21-056
• 17.51 g/t Au over 4.20 meters in hole BM-21-058 including
• 95.10 g/t Au over 0.70 meter
• 7.66 g/t Au over 8.20 meters in hole BM-21-060
• 8.38 g/t Au over 8.00 meters in hole BM-21-061 including
• 72.60 g/t Au over 0.50 meter
• 11.65 g/t Au over 2.90 meters in hole BM-21-061
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• 227.00 g/t Au over 0.50 meter in hole BM-21-062
• 8.24 g/t Au over 4.85 meters in hole BM-21-062 including
• 57.70 g/t Au over 0.50 meter
• 10.97 g/t Au over 4.25 meters in hole BM-21-063
• 16.09 g/t Au over 5.95 meters in hole BM-21-064 including
• 65.00 g/t Au over 0.65 meter
• 62.80 g/t Au over 0.55 meter
• 28.10 g/t Au over 1.55 meters in hole BM-21-065 including
• 80.70 g/t Au over 0.50 meter
• 75.50 g/t Au over 0.60 meter in hole BM-21-068
• 94.00 g/t Au over 0.50 meter in hole BM-21-069
• 21.35 g/t Au over 6.75 meters in hole BM-21-071 including
• 61.40 g/t Au over 0.85 meter
• 60.50 g/t Au over 0.50 meter in hole BM-21-071
• 50.11 g/t Au over 7.50 meters in hole BM-21-072 including
• 630.00 g/t Au over 0.55 meter and
• 48.80 g/t Au over 0.55 meter
• 7.45 g/t Au over 5.30 meters in hole BM-21-077
Sean Roosen, CEO of Osisko Development commented, “The results from these 29 holes continue to add
confidence within our ongoing mineral resource estimate to support the upcoming feasibility study. Multiple
mineralized vein corridors in every hole shows how robust the gold system is at Lowhee. The vein corridors
at Lowhee are the same style of mineralization as seen on our Island Mountain and Cow Mountain deposits-
mineralized quartz veins hosted within the sandstone
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 2.00 meters and average about 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 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 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 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 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 Exchange under the symbol “ ODV” on
December 2, 2020 and the Company’s 14,789,373 outstanding share purchase warrants were listed on the
TSX Venture Exchange under the symbol “ODV.WT” on October 25, 2021.
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 cert ain 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 defi ne 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 i ts 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 gl obal
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 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-21-052 113.25 113.75 0.50 57.10
142.85 144.00 1.15 4.87
150.00 152.85 2.85 8.59
Including 152.35 152.85 0.50 46.60
204.75 205.25 0.50 4.26
230.75 232.05 1.30 21.60
294.30 296.00 1.70 3.52
Including 294.80 295.40 0.60 6.44
366.00 366.55 0.55 5.98
BM-21-053 49.70 50.20 0.50 5.69
67.35 67.85 0.50 3.94
136.35 142.00 5.65 10.51
Including 136.35 137.25 0.90 11.10
and 137.25 138.00 0.75 22.80
and 138.00 139.30 1.30 12.50
146.30 150.95 4.65 10.18
Including 146.30 147.00 0.70 45.50
221.00 221.50 0.50 5.54
344.55 346.00 1.45 23.90
360.75 361.30 0.55 17.25
370.40 371.10 0.70 25.50
386.65 389.60 2.95 5.63
Including 387.70 388.80 1.10 12.30
BM-21-054 21.10 21.60 0.50 7.07
63.00 64.50 1.50 3.89
69.20 69.80 0.60 10.10
125.45 125.95 0.50 41.60
135.55 137.95 2.40 9.87
Including 135.55 136.05 0.50 26.80
and 137.45 137.95 0.50 14.35
184.00 184.50 0.50 51.10
218.50 219.00 0.50 6.34
287.50 288.50 1.00 4.99
BM-21-055 45.10 45.70 0.60 5.08
BM-21-056 56.00 59.00 3.00 13.62
Including 56.00 56.90 0.90 10.25
and 56.90 57.40 0.50 55.10
109.70 114.00 4.30 7.42
Including 109.70 110.50 0.80 14.35
and 113.00 114.00 1.00 20.40
130.30 135.10 4.80 5.75
Including 132.40 133.30 0.90 15.35
and 133.80 134.60 0.80 12.20
246.00 246.60 0.60 89.90
285.60 286.10 0.50 4.42
310.90 312.20 1.30 8.66
Including 311.50 312.20 0.70 10.95
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BM-21-057 48.25 48.80 0.55 4.17
121.55 124.80 3.25 3.52
Including 122.20 123.00 0.80 9.16
299.40 299.90 0.50 22.80
304.85 305.50 0.65 12.35
424.00 424.85 0.85 3.21
429.50 430.05 0.55 11.20
BM-21-058 23.20 24.00 0.80 6.57
56.00 57.20 1.20 17.15
62.90 63.85 0.95 9.70
71.30 71.90 0.60 4.81
116.60 117.45 0.85 4.45
120.90 121.50 0.60 15.15
125.55 126.10 0.55 4.10
170.50 171.00 0.50 33.50
180.60 181.10 0.50 4.07
215.65 219.85 4.20 17.51
Including 215.65 216.35 0.70 95.10
and 219.35 219.85 0.50 13.20
307.15 307.85 0.70 10.25
354.00 354.85 0.85 3.45
BM-21-059 146.50 147.00 0.50 8.88
150.50 151.10 0.60 12.55
325.65 326.20 0.55 6.50
375.50 377.10 1.60 5.39
Including 375.50 376.10 0.60 11.85
381.20 381.75 0.55 6.67
BM-21-060 20.30 21.00 0.70 3.86
22.80 23.30 0.50 6.66
61.00 62.50 1.50 4.18
Including 61.00 61.50 0.50 10.50
67.80 76.00 8.20 7.66
Including 67.80 68.30 0.50 13.60
and 68.80 69.50 0.70 18.05
and 70.00 70.60 0.60 61.00
102.00 102.50 0.50 6.60
103.50 104.00 0.50 8.12
107.00 107.60 0.60 4.57
115.00 115.50 0.50 15.40
122.60 124.30 1.70 6.21
Including 122.60 123.10 0.50 9.95
180.10 180.60 0.50 31.90
205.30 205.80 0.50 28.20
221.50 222.10 0.60 6.99
333.50 334.00 0.50 3.66
336.00 336.50 0.50 3.99
341.85 345.35 3.50 4.28
Including 341.85 342.50 0.65 7.95
and 343.30 344.30 1.00 7.26
BM-21-061 53.50 54.00 0.50 3.16