Osisko Development Extends T2 Mineralization 55 Meters Down Dip at Trixie, Tintic Project
ca.finance.yahoo.com
Osisko Development Corp.
Wed, January 11, 2023 at 5:01 a.m. PST·19 min read
Figure 1
Trixie Project Area
Figure 2
Drill Plan Map
Figure 3
Trixie Long Section
Figure 4
Trixie Long Section (detail area)
Figure 5
Cross Section of underground drilling at 625 L at Trixie
264.00 g/t Au and 511.00 g/t Ag over 1.22 m (7.70 oz/t Au and 14.90 oz/t Ag over 4.00 ft.) in drilling
2,311.18 g/t Au and 1,146.46 g/t Ag over 2.29 m (67.41 oz/t Au and 33.44 oz/t Ag over 7.50 ft.) in underground chip sampling
MONTREAL, Jan. 11, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce drilling and underground chip sampling results from new development areas as part of its ongoing exploration program at its 100%-owned Trixie test mine ("Trixie"), within the Company's wider Tintic Project ("Tintic" or the "Tintic Project"), located in the historic East Tintic Mining District in central Utah, U.S.A.
Chris Lodder, President of Osisko Development, commented, "Tintic continues to deliver high grade underground sampling and initial diamond drill results, as our exploration efforts expand the area of mineralization in and around Trixie, which remains open at depth and along strike. As we continue to drive development to reach deeper levels of Trixie beyond the main 625 level towards the end of 2023, we are excited to test exploration potential of target areas located adjacent to historic mine workings that have previously not been tested. Trixie is just one of four quality precious metal targets in our land package, and our greater understanding of the controls on the various styles of precious and base metal mineralization opens up years of potential exploration growth and excitement for our shareholders."
UNDERGROUND CHIP SAMPLE ASSAY HIGHLIGHTS
Assay highlights include underground chip samples from 114 new development faces at Trixie. A length-weighted composite for each face Site ID is presented in Table 1 and individual higher-grade samples are also identified within the composites. Samples are collected in feet ("ft.") and assays are reported in grams per tonne ("g/t") and troy ounce per short ton ("oz/t") gold ("Au") and silver ("Ag"). Conversions to metric and imperial measurements are rounded to two decimal places. Selected assay highlights include:
503.78 g/t Au and 2,586.22 g/t Ag over 3.35 meters ("m") (14.69 oz/t Au and 75.43 oz/t Ag over 11.00 ft.) including
1,375.03 g/t Au and 6,994.86 g/t Ag over 1.22 m (40.11 oz/t Au and 204.02 oz/t Ag over 4.00 ft.)
1,237.85 g/t Au and 95.44 g/t Ag over 0.98 m (36.10 oz/t Au and 2.78 oz/t Ag over 3.20 ft.) including
2,637.71 g/t Au and 185.16 g/t Ag over 0.46 m (76.93 oz/t Au and 5.40 oz/t Ag over 1.50 ft.)
1,700.62 g/t Au and 131.19 g/t Ag over 0.76 m (49.60 oz/t Au and 3.83 oz/t Ag over 2.50 ft.) including
3,539.06 g/t Au and 265.43 g/t Ag over 0.37 m (103.22 oz/t Au and 7.74 oz/t Ag over 1.20 ft.)
3,901.32 g/t Au and 78.71 g/t Ag over 0.91 m (113.79 oz/t Au and 2.30 oz/t Ag over 3.00 ft.) including
7,765.62 g/t Au and 124.89 g/t Ag over 0.46 m (226.50 oz/t Au and 3.64 oz/t Ag over 1.50 ft.)
1,468.70 g/t Au and 280.94 g/t Ag over 0.61 m (42.84 oz/t Au and 8.19 oz/t Ag over 2.00 ft.)
352.65 g/t Au and 446.22 g/t Ag over 4.57 m (10.29 oz/t Au and 13.01 oz/t Ag over 15.00 ft.)
335.08 g/t Au and 333.77 g/t Ag over 3.66 m (9.77 oz/t Au and 9.74 oz/t Ag over 12.00 ft.)
1,042.03 g/t Au and 498.82 g/t Ag over 2.87 m (30.39 oz/t Au and 14.55 oz/t Ag over 9.40 ft.) including
3,419.93 g/t Au and 1,587.57 g/t Ag over 0.82 m (99.75 oz/t Au and 46.30 oz/t Ag over 2.70 ft.)
531.46 g/t Au and 648.34 g/t Ag over 2.59 m (15.50 oz/t Au and 18.91 oz/t Ag over 8.50 ft.) including
1,888.17 g/t Au and 2,942.92 g/t Ag over 0.46 m (55.07 oz/t Au and 85.84 oz/t Ag over 1.50 ft.)
473.14 g/t Au and 1,371.28 g/t Ag over 2.90 m (13.80 oz/t Au and 40.00 oz/t Ag over 9.50 ft.) including
1,753.17 g/t Au and 5,095.23 g/t Ag over 0.76 m (51.13 oz/t Au and 148.61 oz/t Ag over 2.50 ft.)
288.82 g/t Au and 249.84 g/t Ag over 6.10 m (8.42 oz/t Au and 7.29 oz/t Ag over 20.00 ft.)
1,470.35 g/t Au and 1,222.90 g/t Ag over 0.61 m (42.89 oz/t Au and 35.67 oz/t Ag over 2.00 ft.)
697.81 g/t Au and 731.43 g/t Ag over 2.74 m (20.35 oz/t Au and 21.33 oz/t Ag over 9.00 ft.) including
1,721.84 g/t Au and 1,816.49 g/t Ag over 0.91 m (50.22 oz/t Au and 52.98 oz/t Ag over 3.00 ft.)
2,311.18 g/t Au and 1,146.46 g/t Ag over 2.29 m (67.41 oz/t Au and 33.44 oz/t Ag over 7.50 ft.) including
5,524.28 g/t Au and 2,673.83 g/t Ag over 0.91 m (161.12 oz/t Au and 77.99 oz/t Ag over 3.00 ft.)
557.17 g/t Au and 370.45 g/t Ag over 2.68 m (16.25 oz/t Au and 10.80 oz/t Ag over 8.80 ft.) including
1,865.07 g/t Au and 1,366.68 g/t Ag over 0.61 m (54.40 oz/t Au and 39.86 oz/t Ag over 2.00 ft.)
1,633.69 g/t Au and 1615.74 g/t Ag over 2.13 m (47.65 oz/t Au and 47.13 oz/t Ag over 7.00 ft.) including
5,012.31 g/t Au and 3,441.76 g/t Ag over 0.61 m (146.19 oz/t Au and 100.38 oz/t Ag over 2.00 ft.)
DRILL ASSAY HIGHLIGHTS
In 2022, the Company completed 28 surface reverse circulation ("RC") drill holes near Trixie totalling approximately 8,442 m (27,700 ft.) and 62 underground diamond drill holes ("DD") in the 625 level at Trixie totalling approximately 3,232 m (10,060 ft.). To date, assays have been received for 8 RC drill holes and 14 DD holes, which are summarized in Table. The Company currently has two underground diamond drill rigs in operation at Trixie and has greatly improved on core recovery and drill production challenges faced early in the 2022 program. Select assay highlights include:
25.95 g/t Au and 21.48 g/t Ag over 3.81 m in hole TUG-625-029 (0.76 oz/t Au and 0.63 oz/t Ag over 12.50 ft.) including
43.00 g/t Au and 41.80 g/t Ag over 1.52 m (1.25 oz/t Au and 1.22 oz/t Ag over 5.00 ft.) located 15 m (49 ft.) up dip in the T2 structure
14.97 g/t Au and 113.85 g/t Ag over 2.47 m in hole TUG-625-050 (0.44 oz/t Au and 3.32 oz/t Ag over 8.10 ft.) including
25.50 g/t Au and 90.00 g/t Ag over 1.07 m (0.74 oz/t Au and 2.63 oz/t Ag over 3.50 ft.) located at the contact of the Tintic quartzite and the Ophir shale
12.58 g/t Au and 439.26 g/t Ag over 5.33 m in hole TUG-625-060 (0.37 oz/t Au and 12.81 oz/t Ag over 17.50 ft.) within the T4 mineralized zone.
264.00 g/t Au and 511.00 g/t Ag over 1.22 m in hole TUG-625-065 (7.70 oz/t Au and 14.90 oz/t Ag over 4.00 ft.) 55 m (180 ft.) down dip of the 625 L in the T2 structure
65.50 g/t Au and 84.30 g/t Ag over 1.22 m in hole TUG-625-069 (1.91 oz/t Au and 2.46 oz/t Ag over 4.00 ft.) including
231.00 g/t Au and 246.00 g/t Ag over 0.30 m (6.74 oz/t Au and 7.18 oz/t Ag over 1.00 ft.) 38 m (125 ft.) down dip of the 625 L in the T2 structure
DRILL SUMMARY
Early RC holes in the program were drilled approximately 650 m north of Trixie in new exploration areas. With additional information, holes were planned at a shallower dip and to the west along strike of the T2 area. See Figure 2 for plan map of drillhole locations.
Approximately 20% of the main Trixie area has been explored to date and additional potential for high grade gold exists along strike, at depth down dip and down plunge and along fault zones known to be fluid pathways for gold mineralization (Figure 3).
Underground drilling focused around the 625 level at Trixie, drilling along strike, up dip and down dip of the T2 and T4 mineralization. Table describes the target and intersection for each hole. Figure 4 illustrates sampling results and Figure 5 is a cross section of the T2 and T4 showing highlighted intercepts from select holes.
The results from these initial holes and chip sampling will be incorporated into the initial mineral resource estimate ("MRE") at Trixie expected in the first quarter of 2023 (the "Trixie MRE").
The Trixie MRE will include the result of the Company's exploration work since acquiring Tintic in late May of 2022 and is expected to encompass only a small footprint of the T2, T4 and 75-85 mineral zones adjacent to the 625 underground level, to support near-term underground activities.
About Trixie
The Trixie test mine is one of several gold and base metal targets within the larger Tintic Project consisting of 17,000 acres of patented mining claims and mineral leases within the historic East Tintic Mining District of Central Utah, USA. The T2 and T4 structures at Trixie show multi-ounce gold grades associated with high sulphidation epithermal mineralization, structurally controlled and hosted within quartzites. High grade mineralized material from the T2 and T4 structures is currently being processed via vat leaching on site. The T2 structure is approximately 0.3 m to 2.4 m (1 to 8 ft.) wide and mineralization consists of native Au, and rare Au-Ag – rich telluride minerals with quartz. The T4 is a mineralized stockwork zone ranging from approximately 3 m to 25 m (10 to 80 ft.) and located in the hanging wall of the T2 and is comprised of Au-Ag rich mineralization in host rock quartzite with quartz-barite-sulphosalt stockwork veining. Mineralization currently defined over 220 m (720 ft.) in strike and reports consistent multi-ounce gold grades along the entire strike length.
Face Sampling Methodology
As most structures at Trixie are steeply dipping to the east or west, current sampling procedures are designed to sample the structure. Chip samples are collected and do not exceed 1.0 m (3 ft.) in length. The face is washed for safety, and for better identification of mineralization, alteration and structures. The hanging wall and footwall of the structures are marked up on the face and back, samples intervals are marked up and follow lithological contacts.
For further information on the Tintic Project, please refer to the technical report titled "Technical Report on the Tintic Project, East Tintic Mining District, Utah County, Utah, USA", dated June 10, 2022 (with an effective date of June 7, 2022) and prepared for the Company by Dr. Thomas A. Henricksen, QP, C.P.G. (the "Tintic Technical Report"). Reference should be made to the full text of the Tintic Technical Report, which was prepared in accordance with NI 43-101 and is available electronically on SEDAR ( www.sedar.com) under Osisko Development's issuer profile.
Figure 1: Trixie Project Area is available at:
globenewswire.com
Figure 2: Drill Plan Map is available at:
globenewswire.com
Figure 3: Trixie Long Section is available at:
globenewswire.com
Figure 4: Trixie Long Section (detail area) is available at:
globenewswire.com
Figure 5: Cross Section of underground drilling at 625 L at Trixie is available at:
globenewswire.com
Table 1: Face Chip Sample Length Weighted Assay Composites at Trixie
Site ID
|
| Depth from (m)
| Depth to (m)
| Length (m)
| Au (g/t)
| Ag (g/t)
| Depth from (ft.)
| Depth to (ft.)
| Length (ft.)
| Au (oz/t)
| Ag (oz/t)
| CH1209
|
| 0.00
| 1.95
| 1.95
| 55.91
| 7.79
| 0.00
| 6.40
| 6.40
| 1.63
| 0.23
| CH1209
| Including
| 1.22
| 1.95
| 0.73
| 148.58
| 20.77
| 4.00
| 6.40
| 2.40
| 4.33
| 0.61
| CH1212
|
| 0.00
| 2.77
| 2.77
| 104.26
| 33.05
| 0.00
| 9.10
| 9.10
| 3.04
| 0.96
| CH1212
| Including
| 0.49
| 1.25
| 0.76
| 378.61
| 88.79
| 1.60
| 4.10
| 2.50
| 11.04
| 2.59
| CH1213
|
| 0.00
| 2.23
| 2.23
| 9.04
| 71.94
| 0.00
| 7.30
| 7.30
| 0.26
| 2.10
| CH1213
| Including
| 0.00
| 0.61
| 0.61
| 12.38
| 84.88
| 0.00
| 2.00
| 2.00
| 0.36
| 2.48
| CH1213
| and
| 0.61
| 1.01
| 0.40
| 24.89
| 205.69
| 2.00
| 3.30
| 1.30
| 0.73
| 6.00
| CH1214
|
| 0.00
| 2.29
| 2.29
| 36.04
| 7.11
| 0.00
| 7.50
| 7.50
| 1.05
| 0.21
| CH1214
| Including
| 0.76
| 1.52
| 0.76
| 28.28
| 21.32
| 2.50
| 5.00
| 2.50
| 0.82
| 0.62
| CH1214
| and
| 1.52
| 1.83
| 0.30
| 194.79
| 0.00
| 5.00
| 6.00
| 1.00
| 5.68
| 0.00
| CH1215
|
| 0.00
| 2.13
| 2.13
| 71.62
| 31.17
| 0.00
| 7.00
| 7.00
| 2.09
| 0.91
| CH1215
|
| 1.22
| 1.83
| 0.61
| 150.29
| 74.56
| 4.00
| 6.00
| 2.00
| 4.38
| 2.17
| CH1217
|
| 0.00
| 1.07
| 1.07
| 2.89
| 119.58
| 0.00
| 3.50
| 3.50
| 0.08
| 3.49
| CH1220
|
| 0.00
| 2.44
| 2.44
| 49.86
| 32.88
| 0.00
| 8.00
| 8.00
| 1.45
| 0.96
| CH1220
| Including
| 0.76
| 1.68
| 0.91
| 132.19
| 87.69
| 2.50
| 5.50
| 3.00
| 3.86
| 2.56
| CH1221
|
| 0.00
| 0.91
| 0.91
| 4.53
| 0.00
| 0.00
| 3.00
| 3.00
| 0.13
| 0.00
| CH1222
|
| 0.00
| 0.76
| 0.76
| 1.20
| 0.00
| 0.00
| 2.50
| 2.50
| 0.03
| 0.00
| CH1223
|
| 0.00
| 0.76
| 0.76
| 0.07
| 14.80
| 0.00
| 2.50
| 2.50
| 0.00
| 0.43
| CH1224
|
| 0.00
| 0.91
| 0.91
| 2.78
| 33.70
| 0.00
| 3.00
| 3.00
| 0.08
| 0.98
| CH1225
|
| 0.00
| 0.88
| 0.88
| 2.02
| 41.89
| 0.00
| 2.90
| 2.90
| 0.06
| 1.22
| CH1226
|
| 0.00
| 0.91
| 0.91
| 0.99
| 8.71
| 0.00
| 3.00
| 3.00
| 0.03
| 0.25
| CH1227
|
| 0.00
| 0.91
| 0.91
| 0.72
| 0.00
| 0.00
| 3.00
| 3.00
| 0.02
| 0.00
| CH1228
|
| 0.00
| 3.35
| 3.35
| 503.78
| 2,586.22
| 0.00
| 11.00
| 11.00
| 14.69
| 75.43
| CH1228
| Including
| 1.52
| 2.74
| 1.22
| 1,375.03
| 6,994.86
| 5.00
| 9.00
| 4.00
| 40.11
| 204.02
| CH1229
|
| 0.00
| 2.56
| 2.56
| 0.92
| 20.60
| 0.00
| 8.40
| 8.40
| 0.03
| 0.60
| CH1230
|
| 0.00
| 3.35
| 3.35
| 84.31
| 440.85
| 0.00
| 11.00
| 11.00
| 2.46
| 12.86
| CH1230
| Including
| 0.00
| 0.61
| 0.61
| 422.03
| 2,129.12
| 0.00
| 2.00
| 2.00
| 12.31
| 62.10
| CH1231
|
| 0.00
| 1.77
| 1.77
| 38.17
| 98.27
| 0.00
| 5.80
| 5.80
| 1.11
| 2.87
| CH1231
| Including
| 0.40
| 0.85
| 0.46
| 118.81
| 168.78
| 1.30
| 2.80
| 1.50
| 3.47
| 4.92
| CH1233
|
| 0.00
| 1.83
| 1.83
| 25.86
| 93.82
| 0.00
| 6.00
| 6.00
| 0.75
| 2.74
| CH1233
| Including
| 0.00
| 0.91
| 0.91
| 43.50
| 153.17
| 0.00
| 3.00
| 3.00
| 1.27
| 4.47
| CH1234
|
| 0.00
| 1.74
| 1.74
| 81.11
| 124.01
| 0.00
| 5.70
| 5.70
| 2.37
| 3.62
| CH1234
| Including
| 0.00
| 0.34
| 0.34
| 311.07
| 357.52
| 0.00
| 1.10
| 1.10
| 9.07
| 10.43
| CH1235
|
| 0.00
| 2.19
| 2.19
| 6.77
| 1.50
| 0.00
| 7.20
| 7.20
| 0.20
| 0.04
| CH1235
| Including
| 0.91
| 1.16
| 0.24
| 44.53
| 9.36
| 3.00
| 3.80
| 0.80
| 1.30
| 0.27
| CH1236
|
| 0.00
| 1.77
| 1.77
| 56.12
| 192.29
| 0.00
| 5.80
| 5.80
| 1.64
| 5.61
| CH1236
| Including
| 0.91
| 1.16
| 0.24
| 372.27
| 1,329.79
| 3.00
| 3.80
| 0.80
| 10.86
| 38.79
| CH1237
|
| 0.00
| 1.68
| 1.68
| 234.46
| 186.92
| 0.00
| 5.50
| 5.50
| 6.84
| 5.45
| CH1237
| Including
| 0.61
| 0.91
| 0.30
| 1,272.44
| 1,003.57
| 2.00
| 3.00
| 1.00
| 37.11
| 29.27
| CH1238
|
| 0.00
| 1.49
| 1.49
| 368.37
| 742.56
| 0.00
| 4.90
| 4.90
| 10.74
| 21.66
| CH1238
| Including
| 0.27
| 1.19
| 0.91
| 598.32
| 1,212.00
| 0.90
| 3.90
| 3.00
| 17.45
| 35.35
| CH1239
|
| 0.00
| 1.52
| 1.52
| 4.91
| 19.46
| 0.00
| 5.00
| 5.00
| 0.14
| 0.57
| CH1240
|
| 0.00
| 1.62
| 1.62
| 11.71
| 48.50
| 0.00
| 5.30
| 5.30
| 0.34
| 1.41
| CH1240
| Including
| 0.00
| 0.24
| 0.24
| 46.31
| 131.78
| 0.00
| 0.80
| 0.80
| 1.35
| 3.84
| CH1241
|
| 0.00
| 2.83
| 2.83
| 3.74
| 21.18
| 0.00
| 9.30
| 9.30
| 0.11
| 0.62
| CH1242
|
| 0.00
| 1.95
| 1.95
| 3.12
| 0.72
| 0.00
| 6.40
| 6.40
| 0.09
| 0.02
| CH1242
| Including
| 1.16
| 1.95
| 0.79
| 7.27
| 1.78
| 3.80
| 6.40
| 2.60
| 0.21
| 0.05
| CH1243
|
| 0.00
| 2.29
| 2.29
| 28.85
| 28.69
| 0.00
| 7.50
| 7.50
| 0.84
| 0.84
| CH1243
| Including
| 1.52
| 2.29
| 0.76
| 85.09
| 75.39
| 5.00
| 7.50
| 2.50
| 2.48
| 2.20
| CH1245
|
| 0.00
| 2.16
| 2.16
| 63.97
| 15.54
| 0.00
| 7.10
| 7.10
| 1.87
| 0.45
| CH1245
| Including
| 0.82
| 2.16
| 1.34
| 102.91
| 19.92
| 2.70
| 7.10
| 4.40
| 3.00
| 0.58
| CH1246
|
| 0.00
| 1.22
| 1.22
| 4.48
| 0.00
| 0.00
| 4.00
| 4.00
| 0.13
| 0.00
| CH1246
| Including
| 0.76
| 1.22
| 0.46
| 11.66
| 0.00
| 2.50
| 4.00
| 1.50
| 0.34
| 0.00
| CH1247
|
| 0.00
| 1.37
| 1.37
| 468.80
| 1,113.03
| 0.00
| 4.50
| 4.50
| 13.67
| 32.46
| CH1247
| Including
| 0.46
| 1.37
| 0.91
| 656.15
| 1,582.72
| 1.50
| 4.50
| 3.00
| 19.14
| 46.16
| CH1248
|
| 0.00
| 2.29
| 2.29
| 14.94
| 56.36
| 0.00
| 7.50
| 7.50
| 0.44
| 1.64
| CH1248
| Including
| 0.00
| 1.07
| 1.07
| 23.04
| 81.83
| 0.00
| 3.50
| 3.50
| 0.67
| 2.39
| CH1249
|
| 0.00
| 2.13
| 2.13
| 47.78
| 32.05
| 0.00
| 7.00
| 7.00
| 1.39
| 0.93
| CH1249
| Including
| 0.30
| 1.52
| 1.22
| 79.95
| 49.54
| 1.00
| 5.00
| 4.00
| 2.33
| 1.44
| CH1250
|
| 0.00
| 2.19
| 2.19
| 29.53
| 22.96
| 0.00
| 7.20
| 7.20
| 0.86
| 0.67
| CH1250
| Including
| 0.49
| 1.40
| 0.91
| 56.02
| 39.49
| 1.60
| 4.60
| 3.00
| 1.63
| 1.15
| CH1251
|
|
|
