Osisko Development’s Trixie gold-silver deposit initial resource estimate released

Osisko Development (TSXV:ODV; NYSE:ODV) has announced an initial mineral resource estimate for its 100%-owned Trixie deposit in the east Tintic Mining District in central Utah. 

The estimate comprises five mineralized zones within the greater Trixie deposit, including T1, T2, T3, T4 and 75-85 zones over a strike length of 610 metres, a maximum width of 105 metres and to a maximum depth of 295 metres.

There are 236,000 measured and indicated tonnes grading 28.08 g/t gold (containing 213,000 oz.) and 50.77 g/t silver (containing 385,000 oz). The inferred category has 385,000 tonnes at 19.64 g/t gold and 42.87 g/t silver, for 243,000 oz. of gold and 530,000 oz. of silver.

The estimate is based on 4,467 underground chip samples, 4,780 m of current and verified historic drilling in 50 holes, of which 3,228 metres 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 gold, and rare gold-silver rich telluride minerals with quartz and quartz-barite-sulphosalt stockwork veining.

The estimate reported for an underground mining scenario using a cut-off grade of 4.85 g/t gold was calculated using a gold price of $2340.56 per oz. Processing and G&A costs of approximately $303.10 per tonne, a combined royalty of 4.5% and an average metallurgical recovery of 95%.

"(Trixie) 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," said Chris Lodder, president of Osisko Development.

To learn more, visit www.OsiskoDev.com.