Osisko Development

Highlights

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Location
Utah, USA

Ownership
100%

Mine Type
Underground

Land Package
18,783 acres of patented mining claims; 1,807 acres unpatented

Metals
Gold, Silver, Copper, Lead, Zinc

Project Status
Porphyry Exploration Drilling (underway); Trixie MRE (Q1 24)

Overview

The Tintic Project is an exploration and development stage precious and base metal property, located in western Utah County, ~95 south of Salt Lake City. The historical Tintic District is the second largest metal producing district in Utah, following Bingham, historically producing 2.8 Moz of gold, 285 Moz of silver, 128 kT of copper, 1.2 MT of lead and 259 kT of zinc, of which the Main and East Tintic sub-districts were the main producing regions.

The Tintic Project encompasses most of the East Tintic District with 23 past-producing mines and includes the Trixie gold deposit, one of several gold and base metal targets, including porphyry, epithermal and carbonate targets within the project boundaries.

Tintic Project Factsheet

Mineral Reserves & Resources

Trixie Mineral Resources Estimate (March 14, 2024)

Scientific and technical information relating to the Tintic Project and the mineral resource estimate for the Trixie deposit (the "2024 Trixie MRE") and the assumptions, qualifications and limitations thereof, is supported by 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), prepared for the Company by independent representatives of Micon International Limited (the "Tintic Technical Report"). Reference should be made to the full text of the Tintic Technical Report, which was prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”).

The 2024 Trixie MRE comprises six mineralized zones within the greater Trixie deposit, including T2, T3, T4, Wild Cat, 40 Fault and 75-85 over a strike length of 530 m, a maximum width of 105 m and to a maximum depth of 195 m for the deposit and is 350 m from surface. These dimensions are for the overall size of the mineralized zone structures, with the 2024 Trixie MRE blocks contained within a smaller 440 m strike length, 60 m total width and 195 m depth footprint.

Domain	Category	Tonnes	Grade (Au g/t)	Contained Gold (oz)	Grade (Ag g/t)	Contained Silver (oz)
T2	Measured	22,678	106.27	77,484	115.99	84,572
	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
T3	Measured	2,385	9.46	725	75.34	5,776
	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 + Wild Cat + 40 FLT	Measured	94,784	8.93	27,227	48.41	147,520
	Indicated	51,827	6.48	10,795	37.59	62,637
	M+I	146,611	8.07	38,023	44.58	210,156
	Inferred	104,676	6.57	22,127	38.57	129,792
75-85	Measured	-		-		-
	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
Total	Measured	119,847	27.36	105,437	61.73	237,868
	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

View Notes [+]

Effective date of the 2024 Trixie MRE is March 14, 2024.
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.
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.
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.
Mineral resources that are not mineral reserves do not have demonstrated economic viability.
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.
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%.
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%.
The 2024 Trixie MRE is comprised of six zones within the greater Trixie area: T2, T3, T4, Wild Cat, 40 Fault and 75-85.
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.
Inverse Distance Squared interpolation method was used with a parent block size of 1.2 m x 2.4 m x 2.4 m.
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.
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.
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".