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Osisko Development Commences Surface Exploration Drill Campaign on Copper-Gold Porphyry Targets at Tintic Project
MONTREAL, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce the c
About this update from Osisko Development Corp
[{"type":"text","content":" MONTREAL, Dec. 06, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) (\"Osisko Development\" or the \"Company\") is pleased to announce the commencement of an initial surface diamond drilling exploration campaign to test for copper-gold-molybdenum porphyry mineralization potential, at the Company’s Big Hill target area (Figure 2), at its 100% owned Tintic Project (\"Tintic\" or the \"Tintic Project\"), located in the historic East Tintic Mining District in central Utah, U.S.A. Following receipt of the required surface drill permits, the Company mobilized a diamond drill rig from Major Drilling America of Salt Lake City, Utah, which arrived at site on December 1, 2023, and commenced drilling activities (Figure 1). Sean Roosen, Chairman and CEO of Osisko Development, commented, \"With the surface drill permits in hand, we are very excited to start drilling high-priority targets on the Tintic property for copper-gold porphyry potential at depth. There was previously no detailed work completed using modern exploration techniques in these areas and we expect the initial holes to provide us with invaluable information to support our understanding and interpretation of the entire Tintic district and its potential to host a copper-gold porphyry center.\" PORPHYRY TARGET DRILLING The Tintic District, located 65 kilometers (40 miles) from Rio Tinto's Bingham Canyon Mine, has historically been recognized as an area prospective for porphyry style copper-gold-molybdenum mineralization. Styles of mineralization and alteration present within the Tintic District support an interpretation of a classic porphyry-epithermal system with a high degree of rheologic and structural control on mineralization style and distribution (Figure 3). Two large lithocaps, presented as anomalous surface geochemical footprints – a type of high heat signature indicative of potential significant subsurface volcanic activity – have been identified within the Company's Tintic Project property, namely in the Big Hill and Silver Pass areas (Figure 2). An initial 3,000 meter (9,842 feet) of drilling in two holes comprises phase one of the surface diamond drilling program. The objective of this surface drilling program is to test priority targets for a potential porphyry style copper-gold-molybdenum mineral system responsible for the significant hig...