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Osisko Development Files Technical Report on Mineral Resource Estimate for the Trixie Deposit, Tintic Project

Press Release

Montreal, Québec,  – Osisko Development Corp. (NYSE: ODV, TSXV: ODV) (“Osisko Development” or the “Company”) announces the filing of a technical report (the “Technical Report”) for the updated mineral resource estimate (“MRE”) on its 100%-owned underground Trixie deposit (the “2024 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. Highlights from the previously-announced 2024 Trixie MRE disclosed in the Company’s news release dated March 15, 2024 are presented below, and are consistent with the Technical Report.

The Technical Report, titled “NI 43-101 Technical Report, Mineral Resource Estimate for the Trixie Deposit, Tintic Project, Utah, United States of America” and dated April 25, 2024 (with an effective date of March 14, 2024), was prepared for the Company by independent representatives of Micon International Limited in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). Reference should be made to the full text of the Technical Report, which is available electronically on SEDAR+ ( and on EDGAR ( under Osisko Development’s issuer profile and on the Company’s website at


Table 1: 2024 Trixie MRE (all zones) – March 14, 2024

Tonnes Au Grade Contained Ag Grade Contained
Classification Gold Silver
(000’s) (g/t) (g/t)
(000’s oz) (000’s oz)
Measured 120 27.36 105 61.73 238
Indicated 125 11.17 45 59.89 240
Measured and Indicated 245 19.11 150 60.80 478
Inferred 202 7.80 51 48.55 315

Notes (applicable to Tables 1, 2, and 3)

  1. Effective date of the 2024 Trixie MRE is March 14, 2024.
  2. Each of Mr. William Lewis, P.Geo., of Micon International Limited and Alan J. San Martin, MAusIMM(CP), of Micon International Limited (i) has reviewed and validated the 2024 Trixie MRE, (ii) is considered to be independent of the Company for purposes of Section 1.5 of National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”), and (iii) is a “qualified person” within the meaning of NI 43-101.
  3. The mineral resources were estimated using the Canadian Institute of Mining (“CIM”), Metallurgy and Petroleum’s “CIM Definition Standards on Mineral Resources and Mineral Reserves” adopted by the CIM council.
  4. Mineral resources are reported when they are within potentially mineable shapes derived from a stope optimizer algorithm, assuming an underground longhole stoping mining method with stopes of 6.1 m x 6.1 m x minimum 1.5 m dimensions.
  5. Mineral resources that are not mineral reserves do not have demonstrated economic viability.
  6. Geologic modelling was completed by Osisko Development modeling geologist Jody Laing, P.Geo, using Leapfrog Geo software. The 2024 Trixie MRE was completed by Osisko Development chief resource geologist, Daniel Downton, P.Geo using Datamine Studio RM 2.0 software. William Lewis and Alan J. San Martin of Micon International Limited independently reviewed and validated the mineral resource model.
  7. The estimate is reported for an underground mining scenario and with USD assumptions. The cut-off grade of 4.32 g/t Au was calculated using a gold price of US$1,750/oz, a CAD:USD exchange rate of 1.30; total mining, processing and G&A costs of US$168.04/imperial ton; a refining cost of US$2.65/ounce; a combined royalty of 4.50%; and an average metallurgical gold recovery of 80%.
  8. The stope optimizer algorithm evaluated the resources based on a gold equivalent grade which incorporates the silver grade estimate and assumes a silver price of US$23/oz and metallurgical silver recovery of 45%.
  9. The 2024 Trixie MRE is comprised of six zones within the greater Trixie area: T2, T3, T4, Wild Cat, 40 Fault and 75-85.
  10. Average bulk density values in the mineralized domains were assigned to the T2 (2.955 T/m3), T3 (2.638 T/m3), T4(2.618 T/m3), Wild Cat, and 40 Fault (2.621 T/m3), and 75-85 (2.617 T/m3) domains.
  11. Inverse Distance Squared interpolation method was used with a parent block size of 1.2 m x 2.4 m x 2.4 m.
  12. The 2024 Trixie MRE results are presented in-situ. Calculations used metric units (metres, tonnes, g/t). The number of tonnes is rounded to the nearest thousand. Any discrepancies in the totals are due to rounding effects.
  13. Neither the Company nor Micon International Limited is aware of any known environmental, permitting, legal, title-related, taxation, socio-political, marketing or other relevant issue that could materially affect the mineral resource estimate other than disclosed in this news release.
  14. Technical information in this news release differs from similar information made public by U.S. companies subject to the reporting and disclosure requirements of the U.S. Securities and Exchange Commission. See below under “Cautionary Statement to U.S. Investors”.

Table 2: 2024 Trixie MRE Separated by Domain – March 14, 2024

Domain Category Tonnes Grade Contained Grade Contained
(Au g/t) Gold (oz) (Ag g/t) Silver (oz)
Measured 22,678 106.27 77,484 115.99 84,572
T2 Indicated 11,939 23.19 8,902 51.07 19,602
M+I 34,617 77.62 86,387 93.60 104,173
Inferred 1,996 9.82 630 61.38 3,938
Measured 2,385 9.46 725 75.34 5,776
T3 Indicated 970 5.47 171 57.32 1,787
M+I 3,355 8.30 896 70.13 7,564
Inferred 139 6.27 28 63.14 282
T4 + Measured 94,784 8.93 27,227 48.41 147,520
Indicated 51,827 6.48 10,795 37.59 62,637
Cat + M+I 146,611 8.07 38,023 44.58 210,156
40 FLT
Inferred 104,676 6.57 22,127 38.57 129,792
75-85 Indicated 60,008 12.93 24,943 80.95 156,185
M+I 60,008 12.93 24,943 80.95 156,185
Inferred 94,793 9.12 27,784 59.28 180,666
Measured 119,847 27.36 105,437 61.73 237,868
Total Indicated 124,743 11.17 44,811 59.89 240,211
M+I 244,590 19.11 150,248 60.80 478,078
Inferred 201,603 7.80 50,569 48.55 314,678

Refer to notes described under Table 1, which are also applicable to Table 2 in their entirety.

Table 3: Trixie MRE Cut-Off Grade (“COG”) Sensitivity (Base Case in Bold) – March 14, 2024

Classification Tonnes COG Grade Contained Grade Contained
(Au g/t) Gold (oz) (Ag g/t) Silver (oz)
366,130 2.50 13.79 162,348 50.18 590,666
324,251 3.00 15.23 158,722 53.31 555,740
291,005 3.50 16.64 155,716 56.19 525,681
261,219 4.00 18.14 152,350 58.95 495,091
Measured + 244,590 4.32 19.11 150,248 60.80 478,078
Indicated 237,143 4.50 19.58 149,266 61.52 469,058
217,327 5.00 20.99 146,677 64.07 447,646
198,538 5.50 22.55 143,909 66.19 422,504
182,842 6.00 24.01 141,164 68.57 403,074
165,955 6.50 25.81 137,734 71.39 380,902


152,986 7.00 27.55 135,503 74.34 365,663
438,189 2.50 5.26 74,056 34.46 485,528
342,880 3.00 5.99 66,034 38.38 423,112
279,722 3.50 6.65 59,767 41.84 376,306
224,039 4.00 7.42 53,438 46.31 333,578
201,603 4.32 7.80 50,569 48.55 314,678
Inferred 190,002 4.50 8.02 49,009 49.90 304,803
163,894 5.00 8.60 45,313 53.08 279,718
141,728 5.50 9.16 41,742 55.92 254,818
123,472 6.00 9.71 38,532 58.70 233,028
106,080 6.50 10.35 35,291 60.43 206,087
91,725 7.00 10.99 32,397 61.91 182,579

Note: Micon International Limited’s “qualified person” (for purposes of NI 43-101) has reviewed the COG used in the sensitivity analysis relating to the 2024 Trixie MRE and is of the opinion that the individual cut-off grades used in the sensitivity analysis meet the test of reasonable prospects of economic extraction. The numbers in bold represent the current 2024 Trixie MRE.

Table 4: Trixie MRE Cut-off Grade Calculation Breakdown

Mining Cost ($/ST) $74.33
G&A ($/ST) $52.71
Heap Leach ($/ST) $41.00
Total Refining Cost/ OZ $2.65
Gold Price $1,750
Royalty (Combination) 4.50%
Heap Leach Au Recovery 80.0%
Cut-off Grade (COG) 4.32

Qualified Persons

The scientific and technical information contained in this news release has been reviewed and approved by Maggie Layman, P.Geo., Vice President, Exploration of Osisko Development, and a “qualified person” within the meaning of NI 43-101 (“QP”).

The independent QPs for the 2024 Trixie MRE, within the meaning of NI 43-101, are William Lewis, P.Geo. and Alan J. San Martin MAusIMM(CP) of Micon International Limited. Each QP is independent of Osisko Development within the meaning of NI 43-101 and has reviewed and approved the content in this news release.

Quality Assurance (QA) – Quality Control (QC)

All drill core and exploration samples are dispatched to ALS Geochemistry or SGS Canada for offsite sample preparation and analysis. Both labs are ISO/IEC 17025 certified, and ALS Geochemistry is also ISO 9001 certified. Samples are assigned a unique sample ID. All geological and sampling information is entered into a Datamine Fusion database. Core is sawn in half and half is sampled. Certified standards and blanks are inserted into all sample dispatches. Samples are collected by Old Dominion Transportation and dispatched to SGS Canada’s laboratory in Burnaby, British Columbia or ALS Geochemistry’s laboratories in Elko, Nevada or Twin Falls, Idaho. Sample submission forms accompany the samples, and digital copies are emailed to the destination lab.

Core sample preparation is completed by ALS Geochemistry or SGS Canada, including drying, crushing, and pulverizing of samples. Analytical assays include gold by 30-gram fire assay with AAS finish, and gold overlimits by fire assay with gravimetric finish. Screen metallic analyses are performed on selected samples. Multielement analysis (including silver) is by four-acid digest with ICP-AES/ICP-MS finish. The pulps are returned to Osisko Development and coarse rejects are disposed after 90 days. Assays are reported to Osisko Development and then loaded into Datamine Fusion. Quality Assurance-Quality Control samples are checked, and assays are merged with sample information for future reporting.

Underground face samples are collected by Company geologists from each of the active mining faces, with samples transported by the geologists from Trixie to the on-site Company laboratory located at the Burgin administrative complex. Underground samples are dried, crushed to <10 mm and a 250 g split is taken. The split is pulverized, and a 30 g Fire Assay with gravimetric finish is completed to determine gold and silver grades, reported in oz/short ton and g/t.

The Company’s Burgin laboratory is not a certified analytical laboratory, but the facility is managed by a qualified laboratory manager with annual auditing by technical staff. The laboratory has been independently audited by Qualitica Consulting and Micon International Limited’s QP with recommendations implemented. Inter-laboratory check assays using ALS Geochemistry as a third-party independent analysis of samples is routinely carried out as part of ongoing QA/QC work. Certified OREAS QC standards and blanks are inserted at regular intervals in the sample stream to monitor laboratory performance.

True width is estimated to be approximately 0.5 m – 3 m (1.6 – 10 ft) for all fissure veins and discrete structures (T2, T3, 75-85, Wildcat and 40 Fault) and the T4 zone is modelled at an average width of 90 m (300 ft) and encompasses disseminated mineralization and discontinuous veins ranging from several cm to 1 m (3 ft).


Osisko Development Corp. is a North American gold development company focused on past-producing mining camps located in mining friendly jurisdictions with district scale potential. The Company’s objective is to become an intermediate gold producer by advancing its 100%-owned Cariboo Gold Project, located in central B.C., Canada, the Tintic Project in the historic East Tintic mining district in Utah, U.S.A., and the San Antonio Gold Project in Sonora, Mexico. In addition to considerable brownfield exploration potential of these properties, that benefit from significant historical mining data, existing infrastructure and access to skilled labour, the Company’s project pipeline is complemented by other prospective exploration properties. The Company’s strategy is to develop attractive, long-life, socially and environmentally sustainable mining assets, while minimizing exposure to development risk and growing mineral resources.

For further information, visit our website at or contact:

Sean Roosen Philip Rabenok
Chairman and CEO Director, Investor Relations
Email: Email:
Tel: +1 (514) 940-0685 Tel: +1 (437) 423-3644



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