Osisko Development Intersects 9.05 G/T Au over 11.65 Meters Including 73.0 G/T Au over 0.75 Meter at Lowhee
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OSISKO DEVELOPMENT INTERSECTS 9.05 G/T AU OVER 11.65 METERS
INCLUDING 73.0 G/T AU OVER 0.75 METER AT LOWHEE
MONTREAL, March 30, 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 29,450 meters were drilled in 94 holes at Lowhee Zone on Barkerville Mountain in 2021.
Final assay results have now been received and this release include holes BM-21-081 to BM-21-
094 (Figures 1 and 2).
Drillhole BM -21-082 intersected multiple high-grade samples including 38.10 g/t Au over 0.50
meter, 70.00 g/t Au over 0.50 meter (visible gold noted here) and 72.70 g/t Au over 0.50 meter.
Drillhole BM-21-086 intersected multiple mineralized vein corridors with intervals that assayed
8.00 g/t Au over 5.30 meters including a high-grade sample of 49.00 g/t Au. An interval further
down hole assayed 9.05 g/t Au over 11.65 meters including higher grade samples of 73.00 g/t Au
and 39.70 g/t Au.
One drill is currently conducting infill and exploration on the Lowhee Deposit.
Detailed drilling results and a drill hole location plan map are presented at the end of this release.
Assay Highlights
38.10 g/t Au over 0.50 meter in hole BM-21-082
70.00 g/t Au over 0.50 meter in hole BM-21-082
72.70 g/t Au over 0.50 meter in hole BM-21-082
38.00 g/t Au over 0.50 meter in hole BM-21-083
8.00 g/t Au over 5.30 meters in hole BM-21-086 including
49.00 g/t Au over 0.65 meter
9.05 g/t Au over 11.65 meters in hole BM-21-086 including
73.00 g/t Au over 0.75 meter and
39.70 g/t Au over 1.20 meters
6.61 g/t Au over 4.50 meters in hole BM-21-093
4.95 g/t Au over 7.65 meters in hole BM-21-093 including
23.40 g/t Au over 1.15 meters
Chris Lodder, President of Osisko Development commented, “As the Lowhee deposit is located
immediately to the Southeast of the Cow Mountain deposit within the Cariboo Gold Project, these new
results continue to highlight the extensive on strike and at depth mineralization potential yet to be defined
along the Cariboo trend. Infill drilling is presently taking pace at Lowhee to better define an area for the
fully permitted, 10,000 tonne bulk underground sample, of Cariboo style mineralization. This bulk sample
will be accessed from the newly established Cow Mountain Portal located at Lowhee.”
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Vein corridors are defined as a high -density network of mineralized quartz veins within the axis of the las t
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 4.5 0 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 gr ades 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 criteri a. 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 pr operties, 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. 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 i nvolve 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 statem ents. 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 a nd expected future developments, 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 the y 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 mineraliza tion;
errors in management’s geological modelling; the ability of to complete further exploration activities,
including drilling; property and stream interests in the San Antonio gold project; the ability of the Corporation
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 govern ments 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, s ee 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 l aw.
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 commiss ion 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-21-081 56.50 57.50 1.00 4.01
105.60 106.10 0.50 12.65
137.30 137.80 0.50 15.70
188.10 190.10 2.00 7.76
Including 188.10 188.60 0.50 24.70
and 189.60 190.10 0.50 6.22
201.25 204.05 2.80 7.37
Including 201.75 202.95 1.20 6.71
and 202.95 203.45 0.50 18.75
210.35 210.85 0.50 15.90
223.20 226.80 3.60 4.09
Including 226.30 226.80 0.50 24.00
233.80 234.30 0.50 23.30
259.70 261.60 1.90 4.22
BM-21-082 155.35 155.85 0.50 38.10
246.65 247.15 0.50 4.20
288.85 289.60 0.75 19.15
309.00 311.00 2.00 10.17
Including 310.20 311.00 0.80 21.00
351.20 351.70 0.50 70.00
359.20 359.70 0.50 72.70
403.80 404.40 0.60 4.06
424.00 424.50 0.50 7.52
428.20 430.60 2.40 4.16
Including 429.60 430.10 0.50 9.88
438.50 440.00 1.50 6.06
Including 439.45 440.00 0.55 14.30
BM-21-083 142.25 142.75 0.50 38.00
158.25 159.00 0.75 6.25
171.25 171.95 0.70 3.92
193.05 193.55 0.50 5.16
BM-21-084 142.50 143.00 0.50 16.00
154.60 155.50 0.90 21.80
186.10 188.00 1.90 13.33
203.00 203.50 0.50 9.98
205.70 206.20 0.50 14.85
BM-21-085 No Significant Assays
BM-21-086 49.80 51.10 1.30 12.15
169.20 174.50 5.30 8.00
Including 169.20 169.80 0.60 12.20
and 173.85 174.50 0.65 49.00
179.85 191.50 11.65 9.05
Including 179.85 180.60 0.75 73.00
and 190.30 191.50 1.20 39.70
199.10 199.60 0.50 50.30
214.30 216.30 2.00 6.77
215.80 216.30 0.50 12.75
232.15 232.90 0.75 4.58
237.75 241.10 3.35 6.40
Including 237.75 238.50 0.75 10.25
and 238.50 239.00 0.50 15.70
262.00 265.10 3.10 8.17
Including 262.00 262.60 0.60 29.20
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and 264.00 264.60 0.60 11.80
BM-21-087 145.50 146.00 0.50 4.97
199.75 200.75 1.00 5.62
Including 199.75 200.25 0.50 8.39
239.80 240.55 0.75 5.66
BM-21-088 No Significant Assays
BM-21-089 No Significant Assays
BM-21-090 329.50 330.40 0.90 2.75
BM-21-091 291.45 292.55 1.10 5.77
311.35 312.10 0.75 4.88
BM-21-092 No Significant Assays
BM-21-093 215.20 219.70 4.50 6.61
Including 217.15 218.00 0.85 11.30
and 219.10 219.70 0.60 23.60
258.70 259.20 0.50 28.90
269.50 277.15 7.65 4.95
Including 269.50 270.10 0.60 13.60
and 276.00 277.15 1.15 23.40
285.00 286.50 1.50 7.59
Including 285.00 286.00 1.00 10.00
BM-21-094 83.00 84.00 1.00 3.64
91.70 93.50 1.80 11.58
Including 91.70 92.85 1.15 14.90
104.10 104.65 0.55 8.81
172.50 174.00 1.50 3.56
190.40 194.40 4.00 6.62
Including 190.40 191.10 0.70 17.10
193.55 194.40 0.85 16.95
207.45 208.00 0.55 4.31
281.00 281.50 0.50 8.09
291.10 291.60 0.50 17.60
341.00 341.55 0.55 4.24
Table 2: Drill Hole Locations and Orientations
HOLE ID EASTING NORTHING ELEV DIP AZI DEPTH
(M)
BM-21-081 596541 5882783 1457 -51 302 296
BM-21-082 596654 5882697 1491 -50 320 488
BM-21-083 596541 5882783 1458 -64 318 273
BM-21-084 596611 5882755 1480 -59 300 360
BM-21-085 596612 5882754 1477 -48 296 135
BM-21-086 596612 5882753 1476 -63 298 300
BM-21-087 596611 5882752 1477 -56 287 252
BM-21-088 596675 5882744 1491 -55 294 126
BM-21-089 596675 5882744 1495 -55 294 117
BM-21-090 596674 5882744 1492 -53 311 354
BM-21-091 596675 5882745 1491 -53 305 372
BM-21-092 596674 5882745 1490 -55 304 183
BM-21-093 596675 5882744 1492 -60 298 372
BM-21-094 596627 5882602 1490 -45 306 368