Underground Drilling At The Trixie Test Mine

MONTREAL - Osisko Development Corp. reported on the 2023 underground diamond drilling (DD)at its Trixie test mine, within the Company's wider Tintic Project, located in East Tintic Mining District in central Utah.

Chris Lodder, President, said, "The underground diamond drilling results from this year's drill campaign continue to generate targets and understanding of the epithermal veins and breccias at Trixie. High-grade gold and silver is observed in the footwall of the T2 and T1 zones, as both disseminated and vein mineralization. As these initial results indicate, the drillholes are intersecting all zones within the deposit area and continue to build upon the exploration successes achieved in 2022. We are also excited to launch our initial drill campaign to target copper porphyry potential at Tintic, which is slated to begin in Q3 2023."

To date, the Company has completed 35 DD holes totaling approximately 3,226 m (10,584 ft.). The drilling is targeting all known mineralized domains and extending into the footwall to the west to test for parallel mineralized zones. Assay results have been received for 19 DD holes, as disclosed herein. Results for the remaining holes are pending. Currently there are two underground diamond drill rigs in operation at Trixie conducting exploration activities.

Approximately 75% of the 1,390 m (4,550 ft.) of the Trixie portal and underground decline ramp has been completed to date. The Company anticipates completion of the decline ramp to the main 625 level by Q3 2023, which is expected to significantly improve underground access for exploration drilling. During 2022, the exploration team completed an extensive review and compilation of historical data on the Tintic Project. 3D models of historical mine development, drilling, geochemical and lithological data were integrated and, as a result, a number of high sulfidation epithermal Au-Ag targets were identified at North Lily and Eureka Standard.

Copper-molybdenum-gold porphyry targets were identified at Big Hill with the integration of historical drilling, surface geochemistry, geophysics and alteration mineralogy that defined a lithocap approximately 2 km in strike length and 1 km wide indicative of a potential porphyry. A strong geophysical and geochemical target was also identified to the West and depth below Trixie. An initial program of surface diamond drilling is planned to test the Big Hill porphyry target and is anticipated to commence in Q3 2023. Drilling is also recommended for the Eureka Standard and North Lily targets and will be a part of the Company’s ongoing exploration efforts.