Osisko Development announces mineral resource update for Trixie Deposit

Osisko Development announces an updated mineral resource estimate for its 100%-owned underground Trixie deposit, within the Company’s wider Tintic Project, located in the historic East Tintic Mining District in central Utah, U.S.A. The 2024 Trixie MRE incorporated an additional 1,674 underground chip samples over 1,678 meters of underground development, and 7,385 m of drilling in 122 holes completed by the Company since the release of the initial Trixie MRE, with an effective date of January 10, 2023. Highlights: Measured resources of 119,847 tonnes grading 27.36 grams per tonne gold and 61.73 g/t silver, for a total of 105,437 ounces Au and 237,868 oz Ag. Indicated resources of 124,743 tonnes grading 11.17 g/t Au and 59.89 g/t Ag, for a total of 44,811 oz Au and 240,211 oz Ag. Inferred resources of 201,603 tonnes grading 7.80 g/t Au and 48.55 g/t Ag, for a total of 50,569 oz Au and 314,678 oz Ag. Relative to the 2023 Trixie MRE, contained gold ounces in measured and indicated resources decreased by 29% and inferred resources decreased by 79% primarily due to lower estimated grades that incorporated an updated geologic model interpretation and conversion of inferred resources. Drill results and underground mapping from the 2023 exploration program improved the knowledge of the extent and distribution of mineralization, resulting in modeling improvements to both mineralization and the historical mine shape model. Chris Lodder, President, stated, “The 2024 Trixie MRE incorporates changes to our interpretation of the main mineralized structures and reflects better understanding of the structural controls of the deposit and realistic mining parameters following our exploration and test mining work in 2023. To date exploration and mining occurred on less than 10% of known mineralized structures in the west Tintic district and thus, we see significant precious metal potential at depth, on parallel structures to Trixie, along the Trixie and Sioux Ajax faults to the north and south, as well as around all historic high-grade gold mines in the West Tintic District. These high-grade gold targets, combined with the copper-gold porphyry potential where drilling is underway, and a large area of polymetallic carbonate replacement potential, illustrate that we have only scratched the surface in understanding the overall metal endowment potential of the Tintic district.”