"Osisko Development Announces Initial Mineral Resource Estimate for Trixie, Tintic Project



213 koz of Gold grading 28.1 g/t and 385 koz of Silver grading 50.8 g/t in Measured and Indicated Resources1
243 koz of Gold grading 19.6 g/t and 530 koz of Silver grading 42.8 g/t in Inferred Resources1

MONTREAL, Jan. 17, 2023 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce an initial mineral resource estimate ("MRE") for its 100%-owned underground Trixie deposit ("Trixie") (the "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.

Chris Lodder, President of Osisko Development commented, "The initial Trixie MRE reflects a very limited footprint of the historically defined mineralized zones at Trixie and was delineated within only six months of the acquisition of the project. It exhibits outstanding precious metal grade potential within the structural corridors of the host quartzite and based on all data received and compiled to date we see potential to continue to extend mineralization at depth and on strike throughout and parallel to the historic mine footprint as well as repeats at several other prospects and past producers in the East Tintic District. This resource will assist the Company with its near-term exploration and operational planning."

TRIXIE MINERAL RESOURCE ESTIMATE

The Trixie MRE comprises five mineralized zones within the greater Trixie deposit, including T1, T2, T3, T4 and 75-85 zones over a strike length of 610 meters ("m"), a maximum width of 105 m and to a maximum depth of 295 m.
The Trixie MRE is based on 4,467 underground chip samples, 4,780.1 m of current and verified historic drilling in 50 holes, of which 3,228.9 m of drilling in 23 holes were drilled by the Company in 2022.
Gold mineralization is associated with high sulphidation epithermal mineralization, structurally controlled, and hosted within the quartzites. Mineralization consists of native Au, and rare Au-Ag rich telluride minerals with quartz and quartz-barite-sulphosalt stockwork veining."