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Osisko Development Reports Fourth Quarter and Year-End 2022 Results
(All monetary references are expressed in Canadian dollars, unless otherwise indicated) MONTREAL, March 24, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (N
About this update from Osisko Development Corp
[{"type":"text","content":" (All monetary references are expressed in Canadian dollars, unless otherwise indicated) MONTREAL, March 24, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) (\"Osisko Development\" or the \"Company\") is pleased to report its financial and operating results for the three and twelve months ended December 31, 2022. Sean Roosen, Chairman and CEO, commented, \"2022 was a transformational year for the company with the addition of another cornerstone asset, the Tintic Project, to our portfolio of advanced stage brownfield projects in top-tier mining jurisdictions, facilitated by strong shareholder support in our financing efforts. Within only six months of the acquisition, we successfully delineated an initial mineral resource at the underground Trixie deposit with headline gold grades that compare favourably with some of the top high-grade underground gold mines globally, while reflecting a limited footprint of the historically defined mineralized zones and offering significant exploration upside potential for years to come. At Cariboo, we delivered a Feasibility Study with a robust base case, which is a major project milestone as we continue to advance the permitting process in 2023. We believe Cariboo is one of the few remaining undeveloped gold projects in Canada capable of delivering meaningful, Tier I production scale, while minimizing its environmental footprint and possessing all the hallmarks of a generational asset in a prospective mining district. We look forward to accelerating our exploration efforts in 2023 as we progress development at Trixie and seek to extend mineralization beyond currently known zones, and focus on other high-priority precious and base metal targets on our sprawling >17,000-acre wholly-owned Tintic property, including commencing a deep-drill campaign to target porphyry potential.\" Q4 AND FY 2022 HIGHLIGHTS Operating and financial updates: 7,706 ounces of gold sold by the Company during the fourth quarter (26,875 ounces of gold sold in 2022), comprising: 3,951 ounces of gold sold from the Trixie test mine (\"Trixie\") located within the Company's wider Tintic Project (7,558 ounces of gold sold since the date of acquisition of May 27, 2022); 3,755 ounces of gold sold from the San Antonio Gold Project (\"San Antonio\") stockpile processing via heap leach (11,863 ounces of go...