Osisko Development Announces Tintic Project update

About this update from Osisko Development Corp

[{"type":"text","content":" MONTREAL, June 28, 2022 (GLOBE NEWSWIRE) -- Osisko Development Corp. (“Osisko Development” or the “Company”) (ODV TSX.V & NYSE) is pleased to provide an update on the recently acquired Tintic Consolidated Metals Ltd. (“TCM”) and its 100% owned Trixie Mine (“Trixie”), as well as mineral claims covering more than 17,000 acres (including over 14,200 acres of which are patented) located in Central Utah’s historic Tintic Mining District (together with Trixie, the “Tintic Project”). Summary Trixie is one of several gold and base metal targets within the larger Tintic Project. The discovery of the T2 and T4 structures at Trixie in late 2020 by TCM showed interesting gold (“Au”) grades associated with high sulphidation alteration hosted within quartzites that are capped by impermeable shales and volcanics. Access to the underground workings is available via an existing shaft, and underground (“UG”) exploration was conducted on and around the upper level which is located at 625 ft (190 m) below surface. High grade mineralized material resulting from exploration mining is extracted from the T2 and T4 structures and is processed via vat leaching-on site. Table 1 summarizes the key operational details that TCM accomplished at Trixie from late 2020 to the end of May 2022: Trixie officially re-opened in June 2020 following the re-furnishment of the main shaft and upper 625 level of the mine, and following initial exploration drilling and underground development towards the identified historic resource target, discovered the high-grade T2 structure in September 2020. 25,043 ounces of gold produced since exploration and development operations commenced Significant improvements were made to increase gold recoveries 750 ft. (229 m) of strike length was defined for the T2 vein and adjacent T4 stockwork mineralization by UG development and drilling True widths of the combined T2 and T4 zones is defined between 10 ft. and 150 ft. (3 m and 46 m), with corresponding heights between 60 ft. (18 m) and 150 ft. (46 m) , and is open at depth. 955 ft. (291 m) of UG development has been completed on or near the 625 level of the Trixie Mine with 2,822 ft. (860 m) along strike in the T2 and T4 mineralized zones including exploration crosscuts driven perpendicular to the east of T2 and T4 zones, and 289 ft. (88 m) of raises excavated. A total of 8,593 ft. ...

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