Osisko Development Defines Continuity of Vein Corridors ON Cariboo GOLD Project
NYSE: ODV TSXV: ODV NEWS RELEASE
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OSISKO DEVELOPMENT DEFINES CONTINUITY OF
VEIN CORRIDORS ON CARIBOO GOLD PROJECT
Montreal, Québec, November 15, 2022 – Osisko Development Corporation ("Osisko Development"
or the "Company") is pleased to announce drilling results from the 2022 exploration and category
conversion drill campaign at its 100%-owned Cariboo Gold Project ( "Cariboo"), located in central British
Columbia.
ACTIVITIES SUMMARY:
• 6,500 meters of total infill drilling conducted in 2022 at the Lowhee Zone within Cariboo.
• 27 holes drilled at the Lowhee Zone at closely spaced 12.5 meter intervals within the area proposed
for the Cariboo bulk sample (the "Bulk Sample") and other nearby high priorit y areas (refer to
Figures 1 to 3).
• 10,000 tonnes of mineralized material available and targeted for the Bulk Sample, which is fully -
permitted and benefits from a fully -constructed portal (Figure 4), which was excavated with the
Company’s Roadheader.
• The objective of the Bulk Sample would be to demonstrate the effectiveness of the Company’s
newly-constructed facility for sorting mineralized material ("Ore Sorting Facility"), which has been
designed to seek to meaningfully increase head grade by pre -concentrating material and
separating barren from mineralized material, which, if proven, could significantly reduce processing
costs, energy costs and the overall environmental impact footprint (Figure 5).
ASSAY HIGHLIGHTS:
Final assay results of the drill campaign include holes BM -22-001 to BM -22-027. Detailed interval drill
results and a drill hole location plan map are presented in Table 1 and 2, respectively, at the end of this
news release. Selected assay highlights include:
• 7.13 grams per tonne gold ("g/t Au") over 3.20 meters ("m") in hole BM-22-001
• 32.88 g/t Au over 1.70 m in hole BM-22-003
• 47.30 g/t Au over 0.50 m in hole BM-22-008
• 18.66 g/t Au over 2.30 m in hole BM-22-010
• 20.20 g/t Au over 0.75 m in hole BM-22-013
• 16.82 g/t Au over 1.30 m in hole BM-22-014, including 42.50 g/t Au over 0.50 m
• 19.20 g/t Au over 0.50 m in hole BM-22-015
• 55.20 g/t Au over 0.50 m in hole BM-22-018
• 7.92 g/t Au over 4.85 m in hole BM-22-018
• 18.06 g/t Au over 2.30 m in hole BM-22-019, including 33.90 g/t Au over 0.50 m
• 8.07 g/t Au over 4.20 m in hole BM-22-020
• 14.63 g/t Au over 2.35 m in hole BM-22-022
• 11.91 g/t Au over 6.60 m in hole BM-22-022, including 50.30 g/t Au over 0.50 m
• 17.79 g/t Au over 2.70 m in hole BM-22-023
• 8.32 g/t Au over 6.00 m in hole BM-22-024
• 36.40 g/t Au over 0.60 m in hole BM-22-025
• 62.30 g/t Au over 0.50 m in hole BM-22-025
• 7.13 g/t Au over 4.10 m in hole BM-22-026
• 46.00 g/t Au over 1.00 m in hole BM-22-027
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Bulk Sample and Ore Sorting Facility Update
The Bulk Sample, which is fully-permitted for 2,200 meters of development, is planned to be conducted at
the Lowhee Zone within Cariboo. The Lowhee Deposit hosts indicated mineral resources totaling 188,000
ounces of gold ( "oz Au") (1.60 million tonnes grading 3.6 g/t Au) and inferred mineral resources totaling
59,000 oz Au ( 0.52 million tonnes grading 3.5 g/t Au). For further information please s ee the Company's
news release dated May 24, 2022 and the Cariboo Technical Report (as defined herein). The Cariboo
Technical Report includes sta tements in relation to mineral resources. M ineral resources that are not
mineral reserves do not have demonstrated economic viability.
It is intended that 10,000 tonnes of mineralized material will be extracted for the bulk sample from the
Lowhee Zone using a completed portal allowing mining access. The Company then intends to process the
mineralized material through its Ore Sorting Facility , which is designed to separate the sandstone
(unmineralized waste) from the gold -associated pyrite quartz v eins based on density. Figure 5 is an
infographic illustrating the Ore Sorting process and click below for a video on the ore sorter, also on the
Company website.
The Ore Sorting Facility employs low-cost, durable and energy efficient technology, that has been used for
decades in numerous industrial applications, including in recycling and food waste sectors. The Company
has already conducted testing on more than 5 tonnes of material, including from the Lowhee Zone, which
has demonstrated that the mineralogy at the Cariboo Gold Project is well-suited to this sorting technology.
The testing conducted to date has resulted in recoveries of gold averaging an estimated 93.9% and a
separation of 57.4% of the waste material. In simple terms, the technology could, if proven, be expected to
significantly increase the grade of the material to the mill and substantially reduce the volume of material
processed to simultaneously increase grade while reducing costs.
Sean Roosen, CEO of Osisko Development , commented, "It is sometimes difficult to communicate to
the market the effectiveness of the Ore Sorting Technology being implemented at the Cariboo Gold Project.
Based on the results to date, which we hope to further validate by our bulk sample once conducted, we
could potentially remove over 50% of our waste material at minimal cost to focus our processing efforts on
the mineralized material in the high-grade veins. The reason why Cariboo is so conducive to this technology
is because the resource is comprised of two very different types of rock. Sandstone, which does not contain
gold, is low density. Whereas, our gold is contained uniquely within pyrite hosted in quartz veins, which is
very high density. The simplest analogy I’ve been able to come up with so far is that our rock is like a
chocolate chip cookie and all we want are the chocolate chips. Once we crumble the cookies, the ore sorter
takes care of separating the chocolate chips from the crumbled cookie."
A visual video representation of the ore sorter technology may be viewed HERE or by accessing
the following link: https://youtu.be/RKemT1H33EE.
Vein Corridors
Vein Corridors of the Cariboo Gold Project mineral resource are defined as a high -density network of
mineralized quartz veins hosted within unmineralized sandstone. 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.
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Figure 1: Cariboo Gold Project Deposits Location
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Figure 2: Lowhee Zone 2022 Drill Highlights
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Figure 3: Lowhee Proposed Bulk Sample Infill Drilling Highlights
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Figure 4: Images of portal to Lowhee Zone on Barkerville Mountain
Figure 5: Infographic of Ore Sorting Preconcentration Process
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Table 1: Cariboo Gold Project 2022 Length Weighted Drill Hole Gold Composites
Hole ID From
(m)
To
(m)
Length
(m)
Gold
(g/t)
BM-22-001 228.70 229.20 0.50 3.62
233.40 236.60 3.20 7.13
Including 234.55 235.15 0.60 22.90
and 236.10 236.60 0.50 10.90
243.20 243.70 0.50 4.71
BM-22-002 No Significant Assays
BM-22-003 210.00 211.70 1.70 32.88
BM-22-004 211.70 212.70 1.00 4.47
BM-22-005 228.00 228.75 0.75 3.17
BM-22-006 187.85 192.00 4.15 4.53
Including 187.85 188.35 0.50 15.35
and 190.50 192.00 1.50 6.15
196.30 196.80 0.50 6.82
BM-22-007 No Significant Assays
BM-22-008 196.25 196.75 0.50 37.40
223.20 223.70 0.50 47.30
237.60 238.10 0.50 15.00
241.25 241.75 0.50 4.55
248.20 248.80 0.60 5.49
BM-22-009 234.00 234.75 0.75 3.61
BM-22-010 200.00 201.00 1.00 7.23
210.75 213.05 2.30 18.66
233.10 234.00 0.90 9.63
254.60 255.10 0.50 120.50
294.60 295.10 0.50 15.10
BM-22-011 183.10 183.85 0.75 3.01
BM-22-012 284.50 285.00 0.50 2.67
BM-22-013 202.90 203.80 0.90 4.85
234.75 235.50 0.75 20.20
263.00 263.50 0.50 30.70
265.10 265.80 0.70 2.88
BM-22-014 228.00 229.30 1.30 16.82
Including 228.80 229.30 0.50 42.50
259.70 260.90 1.20 4.72
Including 260.40 260.90 0.50 8.54
BM-22-015 241.60 244.00 2.40 4.63
Including 243.50 244.00 0.50 19.20
BM-22-016 50.00 50.50 0.50 17.05
62.50 63.00 0.50 8.08
79.20 80.50 1.30 9.99
100.00 100.50 0.50 16.45
114.50 115.00 0.50 7.65
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Hole ID From
(m)
To
(m)
Length
(m)
Gold
(g/t)
129.30 130.00 0.70 5.80
166.50 170.50 4.00 3.25
Including 167.70 168.20 0.50 12.15
and 170.00 170.50 0.50 6.74
184.50 185.00 0.50 12.60
BM-22-017 32.30 33.00 0.70 9.38
69.00 70.00 1.00 8.74
80.10 81.30 1.20 7.28
125.00 125.50 0.50 4.73
BM-22-018 28.00 28.50 0.50 3.80
50.00 50.50 0.50 5.88
57.50 60.00 2.50 2.72
57.50 58.00 0.50 9.34
64.00 64.50 0.50 4.05
67.90 68.40 0.50 3.48
73.00 73.70 0.70 13.55
98.50 99.00 0.50 55.20
120.75 121.25 0.50 6.25
127.00 127.60 0.60 7.00
133.00 135.00 2.00 9.88
Including 133.00 133.70 0.70 22.70
162.90 163.50 0.60 36.40
166.50 167.00 0.50 10.50
205.90 210.75 4.85 7.92
Including 205.90 206.40 0.50 21.70
and 207.00 207.50 0.50 7.30
and 209.35 210.00 0.65 19.00
and 210.00 210.75 0.75 15.05
216.00 216.50 0.50 5.02
224.20 224.80 0.60 3.17
BM-22-019 14.30 14.80 0.50 4.31
64.50 66.00 1.50 15.45
77.60 78.20 0.60 8.56
115.00 115.50 0.50 4.60
131.50 133.80 2.30 18.06
Including 131.50 132.30 0.80 19.30
and 132.80 133.30 0.50 12.95
and 133.30 133.80 0.50 33.90
142.00 143.00 1.00 6.02
209.20 209.70 0.50 4.61
BM-22-020 15.40 16.35 0.95 14.30
64.70 65.20 0.50 5.83
75.00 77.00 2.00 6.12