UNDERGROUND CHIP SAMPLE ASSAY HIGHLIGHTS
Assay highlights include underground chip samples from 79 new development faces at Trixie. Of these, 35 faces had samples with greater than 1.0 grams per tonne ("g/t") gold ("Au") or greater than 50.0 g/t silver ("Ag") values (see Table 1). The remaining chip samples returned no significant assays. Selected assay highlights include:
- 30.85 g/t Au over 1.52 meters ("m") in CH01593 (0.90 troy ounce per short ton ("oz/t") Au over 5.00 ft)
- 17.93 g/t Au and 128.90 g/t Ag over 1.52 m in CH01594 (0.52 oz/t Au and 3.76 oz/t Ag over 5.00 ft)
- 5.07 g/t Au over 7.01 m in CH01604 (0.15 oz/t Au over 23.00 ft) including
- 16.80 g/t Au over 1.52 m in CH01604 (0.49 oz/t Au over 5.00 ft)
- 443.64 g/t Au over 1.19 m in CH01632 (12.94 oz/t Au over 3.90 ft)
- 23.25 g/t Au and 25.34 g/t Ag over 1.46 m in CH01634 (0.68 oz/t Au and 0.74 oz/t Ag over 4.80 ft)
CHIP SAMPLE SUMMARY
- Chip samples were collected in new development areas in the face and walls of exploration crosscuts to explore along all domains of the Trixie deposit on the 625 Level, to the north towards the Trixie Fault and to the south towards the Sioux Ajax Fault (see Figure 2)
- The sampling and drilling results provide support that target areas to the north of Trixie and to the south down plunge of the T2 structure are mineralized and warrant further follow-up exploration drilling and sampling.
DRILL ASSAY HIGHLIGHTS
This news release includes assays from eight underground diamond drill ("DD") holes (see Table 2). Select assay highlights include:
- 8.32 g/t Au and 501.00 g/t Ag over 1.52 m in hole TRXU-DD-23-055 (0.24 oz/t Au and 14.61 oz/t Ag over 5.00 ft)
- 9.43 g/t Au and 239.00 g/t Ag over 1.22 m in hole TRXU-DD-23-056 (0.28 oz/t Au and 6.97 oz/t Ag over 4.00 ft)
- 9.04 g/t Au and 323.00 g/t Ag over 1.52 m in hole TRXU-DD-23-057 (0.26 oz/t Au and 9.42 oz/t Ag over 5.00 ft) including
- 12.53 g/t Au and 169.00 g/t Ag over 0.76 m in hole TRXU-DD-23-057 (0.37 oz/t Au and 4.93 oz/t Ag over 2.50 ft)
- 7.46 g/t Au and 301.52 g/t Ag over 2.77 m in hole TRXU-DD-23-059 (0.22 oz/t Au and 8.79 oz/t Ag over 9.10 ft) including
- 14.41 g/t Au and 570.00 g/t Ag over 0.91 m in hole TRXU-DD-23-059 (0.42 oz/t Au and 16.63 oz/t Ag over 3.00 ft)
DRILL RESULTS SUMMARY
- In 2023, the company completed a total of 6,447 m (21,151 ft) of underground drilling in 73 DD holes at Trixie. To date, assays have been received for 59 DD holes, with assays pending for the remaining holes.
- One diamond drill rig is currently active underground testing a copper-gold porphyry target,
Trixie West , below the Trixie deposit. - Approximately 25% of the drilling to date consists of delineation of domains within the area of the current Trixie MRE (as defined herein) and 75% is exploration drilling adjacent to the area of the Trixie MRE, including step outs down dip, down plunge and along strike testing for mineralized structures.
- The focus of these recent holes was to test for mineralization along one of the priority target areas south on strike from the known T2 domain, towards the Sioux Ajax fault (see Figure 2).
- A new mineral resource estimate ("MRE") for the Trixie deposit is expected to be completed once all assay results from the 2023 exploration program have been received and surface and underground mapping data has been integrated.
About Trixie
The Trixie test mine is one of several gold and base metal targets within the larger
A 3D model and virtual site tour of Trixie and the wider
Information relating to the
Figure 1: Trixie Project Area
Figure 2: Drill and Chip Sample Plan Map with assay highlights
Figure 3: Trixie Long Section
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) | |
CH01582 | 0.61 | 1.01 | 0.40 | 1.03 | 12.10 | 2.00 | 3.30 | 1.30 | 0.03 | 0.35 | |
CH01586 | 4.57 | 5.18 | 0.61 | 0.72 | 271.68 | 15.00 | 17.00 | 2.00 | 0.02 | 7.92 | |
CH01589 | 2.90 | 3.35 | 0.46 | 0.72 | 362.29 | 9.50 | 11.00 | 1.50 | 0.02 | 10.57 | |
CH01593 | 3.05 | 4.57 | 1.52 | 30.85 | 0.00 | 10.00 | 15.00 | 5.00 | 0.90 | 0.00 | |
CH01593 | 22.86 | 23.77 | 0.91 | 6.62 | 36.82 | 75.00 | 78.00 | 3.00 | 0.19 | 1.07 | |
CH01594 | 3.05 | 4.57 | 1.52 | 1.20 | 0.00 | 10.00 | 15.00 | 5.00 | 0.04 | -0.10 | |
CH01594 | 25.91 | 27.43 | 1.52 | 17.93 | 128.87 | 85.00 | 90.00 | 5.00 | 0.52 | 3.76 | |
CH01596 | 2.32 | 2.74 | 0.43 | 2.61 | 111.69 | 7.60 | 9.00 | 1.40 | 0.08 | 3.26 | |
CH01599 | 0.00 | 1.52 | 1.52 | 4.25 | 23.28 | 0.00 | 5.00 | 5.00 | 0.12 | 0.68 | |
CH01603 | 3.66 | 3.96 | 0.30 | 0.58 | 65.44 | 12.00 | 13.00 | 1.00 | 0.02 | 1.91 | |
CH01604 | 0.00 | 7.01 | 7.01 | 5.07 | 0.00 | 0.00 | 23.00 | 23.00 | 0.15 | 0.00 | |
CH01604 | including | 0.00 | 1.52 | 1.52 | 16.80 | 0.00 | 0.00 | 5.00 | 5.00 | 0.49 | 0.00 |
CH01605 | 2.38 | 2.87 | 0.49 | 0.58 | 55.45 | 7.80 | 9.40 | 1.60 | 0.02 | 1.62 | |
CH01605 | 4.27 | 5.09 | 0.82 | 1.41 | 7.30 | 14.00 | 16.70 | 2.70 | 0.04 | 0.21 | |
CH01606 | 0.00 | 9.14 | 9.14 | 3.20 | 22.95 | 0.00 | 30.00 | 30.00 | 0.09 | 0.67 | |
CH01606 | including | 7.62 | 9.14 | 1.52 | 3.09 | 137.71 | 25.00 | 30.00 | 5.00 | 0.09 | 4.02 |
CH01607 | 0.00 | 1.77 | 1.77 | 2.53 | 10.79 | 0.00 | 5.80 | 5.80 | 0.07 | 0.31 | |
CH01609 | 2.44 | 3.35 | 0.91 | 4.63 | 54.41 | 8.00 | 11.00 | 3.00 | 0.13 | 1.59 | |
CH01610 | 0.00 | 1.46 | 1.46 | 6.95 | 127.73 | 0.00 | 4.80 | 4.80 | 0.20 | 3.73 | |
CH01610 | 0.00 | 0.49 | 0.49 | 10.15 | 69.15 | 0.00 | 1.60 | 1.60 | 0.30 | 2.02 | |
CH01612 | 0.00 | 1.52 | 1.52 | 12.88 | 59.97 | 0.00 | 5.00 | 5.00 | 0.38 | 1.75 | |
CH01612 | including | 1.10 | 1.52 | 0.43 | 17.38 | 78.64 | 3.60 | 5.00 | 1.40 | 0.51 | 2.29 |
CH01617 | 0.00 | 1.52 | 1.52 | 12.68 | 0.00 | 0.00 | 5.00 | 5.00 | 0.37 | 0.00 | |
CH01621 | 0.91 | 2.44 | 1.52 | 0.65 | 70.66 | 3.00 | 8.00 | 5.00 | 0.02 | 2.06 | |
CH01625 | 1.52 | 4.57 | 3.05 | 3.73 | 45.57 | 5.00 | 15.00 | 10.00 | 0.11 | 1.33 | |
CH01625 | including | 1.52 | 1.83 | 0.30 | 15.74 | 198.56 | 5.00 | 6.00 | 1.00 | 0.46 | 5.79 |
CH01627 | 6.55 | 7.01 | 0.46 | 0.58 | 52.52 | 21.50 | 23.00 | 1.50 | 0.02 | 1.53 | |
CH01628 | 0.00 | 3.05 | 3.05 | 3.86 | 16.04 | 0.00 | 10.00 | 10.00 | 0.11 | 0.47 | |
CH01628 | including | 0.00 | 1.52 | 1.52 | 6.51 | 16.11 | 0.00 | 5.00 | 5.00 | 0.19 | 0.47 |
CH01629 | 2.53 | 3.05 | 0.52 | 0.72 | 67.17 | 8.30 | 10.00 | 1.70 | 0.02 | 1.96 | |
CH01629 | 4.57 | 4.72 | 0.15 | 0.24 | 55.42 | 15.00 | 15.50 | 0.50 | 0.01 | 1.62 | |
CH01631 | 0.00 | 1.52 | 1.52 | 9.29 | 14.78 | 0.00 | 5.00 | 5.00 | 0.27 | 0.43 | |
CH01632 | 0.00 | 1.19 | 1.19 | 443.64 | 0.00 | 0.00 | 3.90 | 3.90 | 12.94 | 0.00 | |
CH01633 | 0.00 | 1.43 | 1.43 | 2.95 | 3.43 | 0.00 | 4.70 | 4.70 | 0.09 | 0.10 | |
CH01634 | 0.00 | 1.46 | 1.46 | 23.25 | 25.34 | 0.00 | 4.80 | 4.80 | 0.68 | 0.74 | |
CH01634 | including | 0.00 | 0.61 | 0.61 | 31.27 | 39.94 | 0.00 | 2.00 | 2.00 | 0.91 | 1.16 |
CH01635 | 0.00 | 1.52 | 1.52 | 1.20 | 0.00 | 0.00 | 5.00 | 5.00 | 0.04 | 0.00 | |
CH01636 | 5.03 | 5.36 | 0.34 | 0.72 | 430.99 | 16.50 | 17.60 | 1.10 | 0.02 | 12.57 | |
CH01637 | 8.60 | 9.14 | 0.55 | 2.95 | 6.75 | 28.20 | 30.00 | 1.80 | 0.09 | 0.20 | |
CH01638 | 0.00 | 0.73 | 0.73 | 0.48 | 53.72 | 0.00 | 2.40 | 2.40 | 0.01 | 1.57 | |
CH01638 | 2.26 | 2.99 | 0.73 | 1.20 | 92.08 | 7.40 | 9.80 | 2.40 | 0.04 | 2.69 | |
CH01644 | 0.61 | 1.52 | 0.91 | 1.10 | 0.00 | 2.00 | 5.00 | 3.00 | 0.03 | 0.00 | |
CH01645 | 0.00 | 1.52 | 1.52 | 1.65 | 0.00 | 0.00 | 5.00 | 5.00 | 0.05 | 0.00 | |
CH01646 | 0.00 | 1.52 | 1.52 | 1.23 | 6.34 | 0.00 | 5.00 | 5.00 | 0.04 | 0.18 | |
CH01646 | 7.62 | 9.14 | 1.52 | 1.37 | 134.93 | 25.00 | 30.00 | 5.00 | 0.04 | 3.94 | |
CH01647 | 1.52 | 3.05 | 1.52 | 7.45 | 74.05 | 5.00 | 10.00 | 5.00 | 0.22 | 2.16 | |
CH01647 | including | 1.98 | 2.32 | 0.34 | 12.23 | 91.67 | 6.50 | 7.60 | 1.10 | 0.36 | 2.67 |
CH01648 | 1.52 | 3.05 | 1.52 | 2.54 | 9.08 | 5.00 | 10.00 | 5.00 | 0.07 | 0.26 | |
CH01648 | 4.57 | 6.10 | 1.52 | 1.27 | 10.32 | 15.00 | 20.00 | 5.00 | 0.04 | 0.30 | |
CH01652 | 0.00 | 1.52 | 1.52 | 1.71 | 43.88 | 0.00 | 5.00 | 5.00 | 0.05 | 1.28 | |
CH01652 | 2.13 | 3.05 | 0.91 | 0.41 | 62.15 | 7.00 | 10.00 | 3.00 | 0.01 | 1.81 |
Table 2: Drilling Length Weighted Assay Composites at Trixie
Hole 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) | Comments | |
TRXU-DD-23-052 | 99.97 | 101.50 | 1.52 | 1.80 | 12.55 | 328.00 | 333.00 | 5.00 | 0.05 | 0.37 | Exploration | |
TRXU-DD-23-053 | 51.36 | 53.04 | 1.68 | 3.71 | 41.27 | 168.50 | 174.00 | 5.50 | 0.11 | 1.20 | Exploration | |
TRXU-DD-23-054 | No Significant Assays | Exploration | ||||||||||
TRXU-DD-23-055 | 37.19 | 40.23 | 3.05 | 4.75 | 264.24 | 122.00 | 132.00 | 10.00 | 0.14 | 7.71 | Exploration | |
TRXU-DD-23-055 | including | 38.71 | 40.23 | 1.52 | 8.32 | 501.00 | 127.00 | 132.00 | 5.00 | 0.24 | 14.61 | Exploration |
TRXU-DD-23-055 | 49.56 | 52.30 | 2.74 | 3.26 | 263.10 | 162.60 | 171.60 | 9.00 | 0.10 | 7.67 | Exploration | |
TRXU-DD-23-056 | 87.48 | 88.70 | 1.22 | 9.43 | 239.00 | 287.00 | 291.00 | 4.00 | 0.28 | 6.97 | Exploration | |
TRXU-DD-23-057 | 45.72 | 47.24 | 1.52 | 9.04 | 323.00 | 150.00 | 155.00 | 5.00 | 0.26 | 9.42 | Exploration | |
TRXU-DD-23-057 | including | 45.72 | 46.48 | 0.76 | 12.53 | 169.00 | 150.00 | 152.50 | 2.50 | 0.37 | 4.93 | Exploration |
TRXU-DD-23-058 | No Significant Assays | Exploration | ||||||||||
TRXU-DD-23-059 | 35.97 | 38.74 | 2.77 | 7.46 | 301.52 | 118.00 | 127.10 | 9.10 | 0.22 | 8.79 | Exploration | |
TRXU-DD-23-059 | including | 37.49 | 38.40 | 0.91 | 14.41 | 570.00 | 123.00 | 126.00 | 3.00 | 0.42 | 16.63 | Exploration |
TRXU-DD-23-059 | and | 38.40 | 38.74 | 0.34 | 11.60 | 88.56 | 126.00 | 127.10 | 1.10 | 0.34 | 2.58 | Exploration |
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by
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.
Samples are collected in feet and assays are reported in grams per tonne and troy ounce per short ton gold and silver. Conversions to metric and imperial measurements are rounded to two decimal places.
Quality Assurance (QA) – Quality Control (QC)
All drill core and exploration samples are dispatched to SGS Canada's laboratory in
All core sample preparation is completed by SGS Canada, including drying, crushing, and pulverizing of samples. Analytical assays include gold by 30 gram fire assay with AAS finish (GO_FAA30V10), and gold overlimits by fire assay with gravimetric finish (GO_FAG30V). Multielement analysis (including silver) is by four-acid digest with ICP-AES/ICP-MS finish (GE_ICM40Q12). The pulps are returned to
Underground face samples are collected by Company geologists from each of the active mining faces, with samples transported by the geologists from Trixie to the on-site Company laboratory located at the Burgin administrative complex. Underground samples are dried, crushed to <10 mm and a 250 g split is taken. The split is pulverized, and a 30 g Fire Assay with gravimetric finish is completed to determine gold and silver grades, reported in oz/short ton and g/t.
The Company's Burgin laboratory is not a certified analytical laboratory, but the facility is managed by a qualified laboratory manager with annual auditing by technical staff. Inter-laboratory check assays using
True width determination is estimated to be approximately 0.3 m to 2.4 m (1 to 8 ft.) wide for the T2 structure, approximately 3 m to 25 m (10 to 80 ft.) for the T4 mineralized stockwork zone located in the hanging wall of the T2 structure and 1.5 m to 3 m (5 to 9 ft.) for the 75-85 structure.
ABOUT OSISKO DEVELOPMENT CORP.
For further information, visit our website at www.osiskodev.com or contact:
Chairman and CEO | Director, Investor Relations |
Email: sroosen@osiskodev.com | Email: prabenok@osiskodev.com |
Tel: +1 (514) 940-0685 | Tel: +1 (437) 423-3644 |
CAUTIONARY STATEMENTS
Cautionary Statement Regarding Test Mining Without Feasibility Study
The Company cautions that its prior decision to commence small-scale underground mining activities and batch vat leaching at the Trixie test mine was made without the benefit of a feasibility study, or reported mineral resources or mineral reserves, demonstrating economic and technical viability, and, as a result there may be increased uncertainty of achieving any particular level of recovery of material or the cost of such recovery. The Company cautions that historically, such projects have a much higher risk of economic and technical failure. Small scale test-mining at Trixie was suspended in
Cautionary Statement to U.S. Investors
The Company is subject to the reporting requirements of the applicable Canadian securities laws and, as a result, reports information regarding mineral properties, mineralization and estimates of mineral reserves and mineral resources, including the information in its technical reports, financial statements, MD&A and this news release, in accordance with Canadian reporting requirements, which are governed by NI 43-101. As such, such information concerning mineral properties, mineralization and estimates of mineral reserves and mineral resources, including the information in its technical reports, financial statements, MD&A and this news release, is not comparable to similar information made public by
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this news release may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (together, "forward-looking statements"). These forward-looking statements, by their nature, require
Neither the
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/40be853c-f385-4194-a791-d9fce3940dd6
https://www.globenewswire.com/NewsRoom/AttachmentNg/3138d820-41cf-4918-9d44-796a7d7ee582
https://www.globenewswire.com/NewsRoom/AttachmentNg/82cfad10-268c-4c0d-9662-cdba5275a0a1
Figure 1
Trixie Project Area
Figure 2
Drill and Chip Sample Plan Map with assay highlights
Figure 3
Trixie Long Section
2023 GlobeNewswire, Inc., source