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Osisko Development Announces Mineral Resource Update for Trixie Deposit, Tintic Project
Measured resources of 119,847 tonnes grading 27.36 grams per tonne ("g/t") gold ("Au") and 61.73 g/t silver ("Ag"), for a total of 105,437 ounces ("oz") Au and
About this update from Osisko Development Corp
[{"type":"text","content":" Measured resources of 119,847 tonnes grading 27.36 grams per tonne (\"g/t\") gold (\"Au\") and 61.73 g/t silver (\"Ag\"), for a total of 105,437 ounces (\"oz\") Au and 237,868 oz Ag. Indicated resources of 124,743 tonnes grading 11.17 g/t Au and 59.89 g/t Ag, for a total of 44,811 oz Au and 240,211 oz Ag. Inferred resources of 201,603 tonnes grading 7.80 g/t Au and 48.55 g/t Ag, for a total of 50,569 oz Au and 314,678 oz Ag. MONTREAL, March 15, 2024 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) (\"Osisko Development\" or the \"Company\") announces an updated mineral resource estimate (\"MRE\") for its 100%-owned underground Trixie deposit (the \"2024 Trixie MRE\"), 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. The 2024 Trixie MRE incorporated an additional 1,674 underground chip samples over 1,678 meters (\"m\") (5,507 feet (\"ft\")) of underground development, and 7,385 m of drilling (24,229 ft) in 122 holes completed by the Company since the release of the initial Trixie MRE (the \"2023 Trixie MRE\"), with an effective date of January 10, 2023. Relative to the 2023 Trixie MRE, contained gold ounces in measured and indicated resources decreased by 29% and inferred resources decreased by 79% primarily due to lower estimated grades that incorporated an updated geologic model interpretation and conversion of inferred resources. Drill results and underground mapping from the 2023 exploration program improved the knowledge of the extent and distribution of mineralization, resulting in modeling improvements to both mineralization and the historical mine shape model. Chris Lodder, President, stated, \"The 2024 Trixie MRE incorporates changes to our interpretation of the main mineralized structures and reflects better understanding of the structural controls of the deposit and realistic mining parameters following our exploration and test mining work in 2023. To date exploration and mining occurred on less than 10% of known mineralized structures in the west Tintic district and thus, we see significant precious metal potential at depth, on parallel structures to Trixie, along the Trixie and Sioux Ajax faults to the north and south, as well as around all historic high-grade gold mines in the West Tintic ...