Osisko Development Intercepts 13.61 g/t Gold Over 4.15 Meters in Initial Infill Drilling at QR Mine Prospect, Cariboo Gold Project
Osisko Development (NYSE: ODV) has announced promising results from its 2024 initial exploration and infill drill campaign at the QR Mine Prospect within its 100%-owned Cariboo Gold Project in British Columbia. The program, consisting of thirteen surface diamond drill holes totaling 1,732 meters, yielded significant gold intersections including 13.61 g/t gold over 4.15 meters and 5.98 g/t gold over 11.40 meters.
The campaign aimed to validate historical exploration data from previous owners' work conducted between the 1970s and 2000s, comprising over 130,000 meters of drilling in more than 1,300 drill holes. The new results appear consistent with historical mineralization at the QR Mine, providing preliminary validation for using historic data in future exploration.
The company plans to conduct geophysical surveys, including induced polarization (IP), to identify potential drilling targets, particularly given the quaternary till cover in the area. The existing aerial magnetic survey has highlighted the QR stock and several magnetic anomalies that could indicate related intrusive bodies.
Osisko Development (NYSE: ODV) ha annunciato risultati promettenti dalla sua campagna di esplorazione e perforazione di infill del 2024 nel QR Mine Prospect all'interno del suo Cariboo Gold Project in British Columbia, di cui detiene il 100% dei diritti. Il programma, composto da tredici fori di perforazione a diamante su superficie per un totale di 1.732 metri, ha prodotto significative intersezioni di oro, tra cui 13,61 g/t di oro su 4,15 metri e 5,98 g/t di oro su 11,40 metri.
La campagna mirava a validare i dati storici di esplorazione provenienti dal lavoro svolto dai proprietari precedenti negli anni '70 e 2000, comprendenti oltre 130.000 metri di perforazione in più di 1.300 fori. I nuovi risultati sembrano essere coerenti con la mineralizzazione storica del QR Mine, fornendo una validazione preliminare per l'uso dei dati storici nelle future esplorazioni.
L'azienda prevede di condurre sondaggi geofisici, inclusa la polarizzazione indotta (IP), per identificare potenziali obiettivi di perforazione, soprattutto considerando la copertura di till quaternario nell'area. L'attuale sondaggio magnetico aereo ha evidenziato il corpo della QR e diversi anomali magnetici che potrebbero indicare corpi intrusivi correlati.
Osisko Development (NYSE: ODV) ha anunciado resultados prometedores de su campaña de exploración y perforación de infill inicial de 2024 en el QR Mine Prospect dentro de su Cariboo Gold Project en Columbia Británica, del cual posee el 100%. El programa, que consta de trece perforaciones de diamante en superficie con un total de 1.732 metros, arrojó intersecciones significativas de oro, incluyendo 13.61 g/t de oro sobre 4.15 metros y 5.98 g/t de oro sobre 11.40 metros.
La campaña tuvo como objetivo validar datos históricos de exploración de trabajos realizados por propietarios anteriores entre las décadas de 1970 y 2000, que comprende más de 130,000 metros de perforación en más de 1,300 agujeros. Los nuevos resultados parecen ser consistentes con la mineralización histórica en el QR Mine, proporcionando una validación preliminar para el uso de datos históricos en futuras exploraciones.
La empresa planea realizar encuestas geofísicas, incluida la polarización inducida (IP), para identificar posibles objetivos de perforación, especialmente dada la cobertura de till cuaternario en la zona. La encuesta magnética aérea existente ha destacado el stock QR y varias anomalías magnéticas que podrían indicar cuerpos intrusivos relacionados.
오시스코 개발 (NYSE: ODV)는 브리티시컬럼비아의 100% 소유 카리부 금 프로젝트 내 QR 광산 탐사 지구의 2024년 초기 탐사 및 인필 드릴 캠페인에서 유망한 결과를 발표했습니다. 이 프로그램은 1,732미터에 걸쳐 13개의 다이아몬드 표면 드릴 홀로 구성되어 있으며, 4.15미터에서 13.61g/t의 금과 11.40미터에서 5.98g/t의 금을 포함한 상당한 금 교차점을 제공했습니다.
이 캠페인은 1970년대와 2000년대 사이에 이전 소유주들이 수행한 역사적 탐사 데이터를 검증하는 것을 목표로 하였으며, 1,300개 이상의 드릴 홀에서 130,000미터 이상의 드릴링이 포함됩니다. 새로운 결과는 QR 광산의 역사적 광물화와 일치하는 것으로 보이며, 향후 탐사에서 역사적 데이터를 활용하기 위한 초기 검증을 제공합니다.
회사는 지역 내 사변적 덮개를 고려하여 잠재적인 드릴링 목표를 식별하기 위해 유도 분극(IP) 등 지구 물리적 조사를 실시할 계획입니다. 기존의 공중 자기 조사에서는 QR 주식과 관련된 침입체를 나타낼 수 있는 여러 자기 이상을 강조했습니다.
Osisko Development (NYSE: ODV) a annoncé des résultats prometteurs de sa campagne d'exploration initiale et de forage de remplissage pour 2024 sur le site minier QR dans le cadre de son projet aurifère Cariboo, dont il possède 100 %. Le programme, composé de treize forages à diamant en surface totalisant 1 732 mètres, a révélé d'importantes intersections d'or, y compris 13,61 g/t d'or sur 4,15 mètres et 5,98 g/t d'or sur 11,40 mètres.
La campagne visait à valider les données historiques d'exploration provenant des travaux d'anciens propriétaires réalisés entre les années 1970 et 2000, comprenant plus de 130 000 mètres de forage dans plus de 1 300 forages. Les nouveaux résultats semblent cohérents avec la minéralisation historique du site QR, fournissant une validation préliminaire pour l'utilisation de données historiques dans les explorations futures.
L'entreprise prévoit de réaliser des enquêtes géophysiques, y compris la polarisation induite (IP), pour identifier d'éventuels cibles de forage, en particulier compte tenu de la couverture de till quaternaire dans la région. L'enquête magnétique aérienne existante a mis en évidence le stock QR et plusieurs anomalies magnétiques qui pourraient indiquer des corps intrusifs associés.
Osisko Development (NYSE: ODV) hat vielversprechende Ergebnisse aus seiner initialen Erkundungs- und Infill-Bohrkampagne 2024 im QR Mine Prospect innerhalb seines zu 100 % eigenen Cariboo Gold Projects in British Columbia bekannt gegeben. Das Programm, das aus dreizehn Diamantbohrlöchern an der Oberfläche mit einer Gesamtlänge von 1.732 Metern besteht, erbrachte bedeutende Goldintersektionen, darunter 13,61 g/t Gold über 4,15 Meter und 5,98 g/t Gold über 11,40 Meter.
Die Kampagne hatte zum Ziel, historische Erkundungsdaten der vorherigen Eigentümer, die zwischen den 1970er und 2000er Jahren durchgeführt wurden, zu validieren, welche über 130.000 Meter Bohrungen in mehr als 1.300 Bohrlöchern umfasste. Die neuen Ergebnisse scheinen mit der historischen Mineralisierung im QR Mine übereinzustimmen und bieten eine vorläufige Validierung für die Nutzung historischer Daten in zukünftigen Erkundungen.
Das Unternehmen plant, geophysikalische Untersuchungen, einschließlich induzierter Polarisation (IP), durchzuführen, um potenzielle Bohrziele zu identifizieren, insbesondere angesichts der quartären Tillbedeckung in dem Gebiet. Die bestehende Luftmagnetuntersuchung hat den QR Stock und mehrere magnetische Anomalien hervorgehoben, die auf verwandte intrusive Körper hindeuten könnten.
- Strong drill results with high-grade gold intersections up to 13.61 g/t Au over 4.15 meters
- Initial validation of extensive historical database (130,000+ meters of drilling)
- 100% ownership of the Cariboo Gold Project
- Quaternary till coverage limiting exploration capabilities
- Additional geophysical surveys required before systematic drilling can commence
Insights
The latest drilling results from Osisko Development's QR Mine Prospect reveal several high-grade gold intersections that warrant attention. The standout intercept of 13.61 g/t Au over 4.15 meters is particularly significant, as grades above 5 g/t Au are generally considered high-grade in the gold mining industry. The consistency and width of these intersections, including 5.98 g/t Au over 11.40 meters, suggest robust mineralization that could potentially contribute to resource expansion.
The successful validation of historical data through this drilling program is strategically important. Historical databases often represent millions of dollars in past exploration expenditure and their validation can significantly reduce future exploration costs and risks. The confirmation of historical mineralization patterns enhances the reliability of the extensive 130,000-meter drilling database, potentially accelerating future exploration targeting.
The company's proposed next steps demonstrate a sophisticated exploration strategy. The planned induced polarization (IP) surveys are particularly strategic because:
- They can identify sulfide-rich zones often associated with gold mineralization
- They're cost-effective for exploring under the quaternary till cover that masks most of the area
- They can help define both porphyry-style and skarn mineralization targets
The combination of validated historical data with modern geophysical techniques positions Osisko Development to potentially identify new mineralized zones beyond the historically known areas. This systematic approach to exploration, coupled with the encouraging drill results, suggests a well-planned pathway toward potential resource expansion at the Cariboo Gold Project.
MONTREAL, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Osisko Development Corp. (NYSE: ODV, TSXV: ODV) ("Osisko Development" or the "Company") is pleased to announce drilling results from its 2024 initial exploration and historic data validation infill drill campaign at its Quesnel River Mine Prospect ("QR Mine Prospect") within the Company's wider
Chris Lodder, President, stated, "Today's infill results are promising and reinforce the prospectivity of the historic QR mine area, as well as several surrounding skarn and intrusion related gold targets. This limited drill program aimed to validate historical exploration data from work conducted by previous owners between the 1970s and 2000s, which lacked preserved drill core. A proposed follow-up targeted geophysical survey—combined with the existing data—will guide the next phase of exploration and target generation on the property."
DRILL ASSAY HIGHLIGHTS
This news release includes assays from thirteen (13) surface infill diamond drill ("DD") holes totaling approximately 1,732 meters completed in 2024 (see Table 1). Select assay highlights include:
- 13.61 grams per tonne ("g/t") gold ("Au") over 4.15 meters ("m") in hole QRM-24-006, including
- 31.90 g/t Au over 1.50 m
- 5.98 g/t Au over 11.40 m in hole QRM-24-010
- 4.27 g/t Au over 12.00 m in hole QRM-24-013
- 14.10 g/t Au over 3.55 m in hole QRM-24-009, including
- 18.55 g/t Au over 0.95 m
2024 EXPLORATION PROGRAM SUMMARY
- Historic Database. The Company is reviewing a historical drill database comprising over 130,000 meters of drilling in more than 1,300 drill holes. This extensive dataset is the product of exploration work competed by previous owners between the late 1970's and 2000's, and focused on several distinct localized zones of gold skarn mineralization, some of which were exploited through mining operations by previous owners. However, several drilling campaigns lack the necessary validation documentation by way of drill core data.
- The 2024 drill campaign was designed as an initial program to target areas of mineralization outlined by historic drill data, aiming to validate and confirm its accuracy.
- The intersected gold mineralization in the thirteen new holes appears to be consistent with the mineralization observed historically at the QR Mine (see Figure 5). Additionally, the mineralization is three dimensionally located adjacent to the mineralization noted in the historical data (see Figure 4).
- These results provide preliminary validation criteria for the potential use of the historic data for future exploration activities and target generation.
RECOMMENDATIONS & NEXT STEPS
- These encouraging results indicate the potential for local targeting using the historical drill data. Given the localized nature of historic drilling, there remains a possibility of yet undiscovered Au-rich zones within the area of the QR Mine Prospect.
- However, a blanket of quaternary till covers most of the area, posing a challenge in the available exploration strategies. In this context, geophysical techniques are expected to be a good resource to narrow the search area, given what is already known about historical mineralization.
- An existing aerial magnetic survey highlights the local magmatic intrusion (QR stock) as well as several other mag-high anomalies along a roughly NE-SW trend that could be a series of related intrusive bodies. The magnetic anomalies and their halos should be tested with induced polarization (IP) surveys. These could potentially define chargeability and resistivity anomalies that can be drill tested either within intrusive bodies if a porphyry deposit is present or in their halos similar to historical mineralization mined at the QR Mine. All available geochemical, geological, structural and remote sensing data will be used to help refine the geophysical targets.
- Once this information is refined it will help inform a systematic drill targeting program to test with multiple drill holes. It is recommended that samples should be analyzed for their multi-element geochemistry to aid with vectoring even in the absence of significant gold.
ABOUT QR MINE PROSPECT
The QR Mine Prospect property is located approximately 58 kilometers ("km") South-East from the city of Quesnel, accessible year-round, and approximately 111 km from the Cariboo Gold Project. It was previously operated by Kinross Gold Corp. from 1994 to 1998 mainly focusing on the Main and West Zone open pits and underground mining in the Midwest Zone. Due to the low gold price at the time, open pit and underground mining ceased in 1998 collectively producing a total of 118,004 ounces of gold (1.06 million tonnes at 4.1 g/t Au) over its mine life. In subsequent years, Cross Lake Minerals acquired the property in 2004 and conducted small scale open pit and underground operations.
The mineralization at the QR deposit is hosted by variably propylitic up to epidote-skarn-altered equivalents of a host volcanic and sedimentary rock sequence, which is spatially and temporally associated with an alteration halo around a diorite-monzonite intrusive body, known as the QR stock.
Figure 1: QR Mine Prospect – Regional Setting.
Figure 2: QR Mine Prospect – 2024 drill program overview.
Figure 3: QR Mine Prospect – Select drilling highlights.
Figure 4: QR Mine Prospect – Vertical Cross Section along QRM-24-010 ±5 m.
Figure 5: QR Mine Prospect – Photos of mineralization from the historic Kinross pit.
Table 1: Drill Hole Sample Length Weighted Assay Composites at QR Mine Prospect.
| Hole ID | From (m) | To (m) | Length (m) | Au (g/t) | |
| QRM-24-001 | No Significant assays | ||||
| QRM-24-002 | 64.00 | 65.00 | 1.00 | 3.41 | |
| QRM-24-003 | No Significant assays | ||||
| QRM-24-004 | 88.20 | 89.00 | 0.80 | 4.95 | |
| 91.40 | 92.00 | 0.60 | 6.65 | ||
| QRM-24-005 | 34.00 | 34.75 | 0.75 | 4.68 | |
| 66.00 | 66.65 | 0.65 | 4.54 | ||
| QRM-24-006 | 18.00 | 19.00 | 1.00 | 3.68 | |
| 25.85 | 30.00 | 4.15 | 13.61 | ||
| Including | 25.85 | 27.00 | 1.15 | 5.41 | |
| and | 27.00 | 28.50 | 1.50 | 1.62 | |
| and | 28.50 | 30.00 | 1.50 | 31.90 | |
| QRM-24-007 | 10.00 | 11.50 | 1.50 | 8.01 | |
| QRM-24-008 | 11.90 | 13.00 | 1.10 | 6.20 | |
| 30.00 | 30.50 | 0.50 | 3.20 | ||
| QRM-24-009 | 88.75 | 90.00 | 1.25 | 6.46 | |
| 170.00 | 174.00 | 4.00 | 3.62 | ||
| Including | 170.00 | 171.05 | 1.05 | 5.92 | |
| and | 171.05 | 172.00 | 0.95 | 1.56 | |
| and | 172.00 | 173.00 | 1.00 | 3.09 | |
| and | 173.00 | 174.00 | 1.00 | 3.69 | |
| 183.00 | 186.55 | 3.55 | 14.10 | ||
| Including | 183.00 | 184.00 | 1.00 | 6.65 | |
| and | 184.00 | 185.00 | 1.00 | 12.65 | |
| and | 185.00 | 185.95 | 0.95 | 18.55 | |
| and | 185.95 | 186.55 | 0.60 | 21.90 | |
| QRM-24-010 | 10.20 | 11.00 | 0.80 | 4.03 | |
| 89.00 | 100.40 | 11.40 | 5.98 | ||
| Including | 89.00 | 90.00 | 1.00 | 10.10 | |
| and | 90.00 | 91.00 | 1.00 | 8.44 | |
| and | 91.00 | 92.00 | 1.00 | 10.60 | |
| and | 92.00 | 93.00 | 1.00 | 4.85 | |
| and | 93.00 | 94.00 | 1.00 | 4.56 | |
| and | 94.00 | 95.00 | 1.00 | 6.34 | |
| and | 95.00 | 95.90 | 0.90 | 2.37 | |
| and | 95.90 | 96.80 | 0.90 | 5.99 | |
| and | 96.80 | 98.00 | 1.20 | 1.71 | |
| and | 98.00 | 99.00 | 1.00 | 7.33 | |
| and | 99.00 | 100.40 | 1.40 | 4.57 | |
| 108.00 | 109.25 | 1.25 | 9.69 | ||
| QRM-24-011 | 67.00 | 71.00 | 4.00 | 3.34 | |
| Including | 67.00 | 68.00 | 1.00 | 3.45 | |
| and | 68.00 | 69.50 | 1.50 | 4.22 | |
| and | 69.50 | 71.00 | 1.50 | 2.38 | |
| QRM-24-012 | No Significant assays | ||||
| QRM-24-013 | 12.50 | 14.90 | 2.40 | 6.79 | |
| Including | 12.50 | 13.10 | 0.60 | 12.95 | |
| and | 13.10 | 13.60 | 0.50 | 4.46 | |
| and | 13.60 | 14.25 | 0.65 | 3.26 | |
| and | 14.25 | 14.90 | 0.65 | 6.43 | |
| 46.45 | 47.00 | 0.55 | 12.55 | ||
| 52.00 | 54.00 | 2.00 | 13.21 | ||
| Including | 52.00 | 53.00 | 1.00 | 9.96 | |
| and | 53.00 | 54.00 | 1.00 | 16.45 | |
| 58.00 | 70.00 | 12.00 | 4.27 | ||
| Including | 58.00 | 59.00 | 1.00 | 11.40 | |
| and | 59.00 | 60.50 | 1.50 | 4.07 | |
| and | 60.50 | 62.00 | 1.50 | 0.66 | |
| and | 62.00 | 63.50 | 1.50 | 5.64 | |
| and | 63.50 | 65.00 | 1.50 | 2.39 | |
| and | 65.00 | 66.00 | 1.00 | 0.26 | |
| and | 66.00 | 67.00 | 1.00 | 2.34 | |
| and | 67.00 | 68.00 | 1.00 | 5.94 | |
| and | 68.00 | 69.00 | 1.00 | 8.15 | |
| and | 69.00 | 70.00 | 1.00 | 4.06 | |
| 101.85 | 104.70 | 2.85 | 3.35 | ||
| Including | 101.85 | 102.80 | 0.95 | 3.95 | |
| and | 102.80 | 103.75 | 0.95 | 2.36 | |
| and | 103.75 | 104.70 | 0.95 | 3.74 | |
Note: All reported composite intervals are core length, true width is unknown at this time. Top cuts have not been applied to high grade assays.
Table 2: Drill Hole Locations and Orientations at QR Mine.
| HOLE ID | EASTING | NORTHING | ELEV | DIP | AZI | DEPTH (M) |
| QRM-24-001 | 580708 | 5835964 | 1019 | -83 | 158 | 158 |
| QRM-24-002 | 580798 | 5835906 | 1033 | -57 | 318 | 72 |
| QRM-24-003 | 580798 | 5835905 | 1034 | -63 | 325 | 72 |
| QRM-24-004 | 580813 | 5835872 | 1028 | -75 | 341 | 125 |
| QRM-24-005 | 580979 | 5835795 | 1010 | -58 | 35 | 101 |
| QRM-24-006 | 580922 | 5836226 | 1059 | -75 | 179 | 86 |
| QRM-24-007 | 580965 | 5836229 | 1049 | -60 | 176 | 80 |
| QRM-24-008 | 581215 | 5836157 | 1062 | -56 | 172 | 101 |
| QRM-24-009 | 581328 | 5836239 | 1068 | -55 | 28 | 293 |
| QRM-24-010 | 581452 | 5836290 | 1065 | -68 | 10 | 146 |
| QRM-24-011 | 581504 | 5836257 | 1054 | -69 | 18 | 170 |
| QRM-24-012 | 581893 | 5836143 | 1013 | -62 | 2 | 200 |
| QRM-24-013 | 581613 | 5836250 | 1049 | -50 | 11 | 128 |
Qualified Persons
The scientific and technical information contained in this news release has been reviewed and approved by Daniel Downton, P.Geo., Chief Resource Geologist of Osisko Development, a "qualified person" within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101").
Quality Assurance (QA) – Quality Control (QC)
Once received from the drill and processed, all drill core samples are sawn in half, labelled and bagged. The remaining drill core is subsequently stored on site at a secured facility in Wells, British Columbia. Numbered security tags are applied to lab shipments for chain of custody requirements. Quality control (QC) samples are inserted at regular intervals in the sample stream, including blanks and reference materials with all sample shipments to monitor laboratory performance. The QA/QC program was designed and approved by Lynda Bloom, P.Geo., of Analytical Solutions Ltd.
Drill core samples are submitted to ALS Geochemistry’s analytical facility in North Vancouver, British Columbia for preparation and analysis. The ALS facility is accredited to the ISO/IEC 17025 standard for gold assays and all analytical methods include quality control materials at set frequencies with established data acceptance criteria. The entire sample is crushed, and 250 grams is pulverized. Analysis for gold is by 30g fire assay fusion with atomic absorption (AAS) finish with a lower limit of 0.01 ppm and upper limit of 100 ppm. Samples with gold assays greater than 100 ppm are re-analyzed using a 1,000 gram screen metallic fire assay. A selected number of samples are also analyzed using a 48 multi-elemental geochemical package by a 4-acid digestion, followed by Inductively Coupled Plasma Atomic Emission Spectroscopy (ICP-AES) and Inductively Coupled Plasma Mass Spectroscopy (ICP-MS).
ABOUT OSISKO DEVELOPMENT CORP.
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
For further information, visit our website at www.osiskodev.com or contact:
| Sean Roosen | Philip Rabenok |
| Chairman and CEO | Director, Investor Relations |
| Email: sroosen@osiskodev.com | Email: prabenok@osiskodev.com |
| Tel: +1 (514) 940-0685 | Tel: +1 (437) 423-3644 |
CAUTION REGARDING FORWARD LOOKING STATEMENTS
Certain statements contained in this news release may be deemed "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian securities legislation (together, "forward-looking statements"). These forward-looking statements, by their nature, require Osisko Development to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Forward-looking statements are not guarantees of performance. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including the assumptions, qualifications and limitations relating to the prospectivity of the historic QR mine area and surrounding gold targets; the ability of the Company to complete a follow-up targeted geophysical survey and the exploration success thereof (if any); the Company being construction and operation ready; unlocking Cariboo's potential for shareholders, Indigenous nations and other stakeholders; the job creation and long-term opportunities created for the community; the ability of the Company to complete the optimized feasibility study and the scope, results and timing of thereof; progress in respect of pre-construction activities at Cariboo including bulk sample and underground development work; category conversion; the timing and status of permitting; the future development and operations at the Cariboo Gold Project; the results of ongoing stakeholder engagement; the capital resources available to the Company; the ability of the Company to execute its planned activities, including as a result of its ability to seek additional funding; the ability of the Company to obtain future financing and the terms of such financing including a fully-funded solution for the Cariboo Gold Project; management's perceptions of historical trends, current conditions and expected future developments; the ability and timing for Cariboo to reach commercial production (if at all); sustainability and environmental impacts of operations at the Company's properties; the results (if any) of further exploration work to define and expand mineral resources; the ability of exploration work (including drilling) to accurately predict mineralization; the ability of the Company to expand mineral resources beyond current mineral resource estimates; the ability of the Company to complete its exploration and development objectives for its projects in the timing contemplated and within expected costs (if at all); the ability and timing for Cariboo to reach commercial production (if at all); the ability to adapt to changes in gold prices, estimates of costs, estimates of planned exploration and development expenditures; the ability of the Company to obtain further capital on reasonable terms; the profitability (if at all) of the Company's operations; as well as other considerations that are believed to be appropriate in the circumstances, and any other information herein that is not a historical fact may be "forward looking information". Material assumptions also include, management's perceptions of historical trends, management's understanding of the permitting process and status thereof, the ability of exploration (including drilling and chip sampling assays, and face sampling) to accurately predict mineralization, budget constraints and access to capital on terms acceptable to the Company, current conditions and expected future developments, regulatory framework remaining defined and understood, results of further exploration work to define or expand any mineral resources, as well as other considerations that are believed to be appropriate in the circumstances. Osisko Development considers its assumptions to be reasonable based on information currently available, but cautions the reader that their assumptions regarding future events, many of which are beyond the control of Osisko Development, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect Osisko Development and its business. Such risks and uncertainties include, among others, risks relating to third-party approvals, including the issuance of permits by the government, capital market conditions and the Company's ability to access capital on terms acceptable to the Company for the contemplated exploration and development at the Company's properties; the ability to continue current operations and exploration; regulatory framework and presence of laws and regulations that may impose restrictions on mining; the ability of exploration activities (including drill results and chip sampling, and face sampling results) to accurately predict mineralization; errors in management's geological modelling; the timing and ability of the Company to obtain required approvals and permits; the results of exploration activities; risks relating to exploration, development and mining activities; the global economic climate; metal and commodity prices; fluctuations in the currency markets; dilution; environmental risks; and community, non-governmental and governmental actions and the impact of stakeholder actions. Osisko Development is confident a robust consultation process was followed in relation to its received BC Mines Act and Environmental Management Act permits for the Cariboo Gold Project and continues to actively consult and engage with Indigenous nations and stakeholders. While any party may seek to have the decision related to the BC Mines Act and/or Environmental Management Act permits reviewed by the courts, the Company does not expect that such a review will impact its ability to proceed with the construction and operation of the Cariboo Gold Project in accordance with the approved BC Mines Act and Environmental Management Act permits. Readers are urged to consult the disclosure provided under the heading "Risk Factors" in the Company's annual information form for the year ended December 31, 2023 as well as the financial statements and MD&A for the year ended December 31, 2023, which have been filed on SEDAR+ (www.sedarplus.ca) under Osisko Development's issuer profile and on the SEC's EDGAR website (www.sec.gov), for further information regarding the risks and other factors facing the Company, its business and operations. Although the Company's believes the expectations conveyed by the forward-looking statements are reasonable based on information available as of the date hereof, no assurances can be given as to future results, levels of activity and achievements. The Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by law. Forward-looking statements are not guarantees of performance and there can be no assurance that these forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2ab040a8-6cb2-4b6c-8eb0-cce20ba0f700
https://www.globenewswire.com/NewsRoom/AttachmentNg/696c5442-402d-4f41-ae3e-f79707e047a4
https://www.globenewswire.com/NewsRoom/AttachmentNg/d19611d2-750a-44d8-a154-5e2f501aa137
https://www.globenewswire.com/NewsRoom/AttachmentNg/064c5a9e-d682-4cbc-afde-5292dae0b211
https://www.globenewswire.com/NewsRoom/AttachmentNg/24cf5e4e-8df5-47fa-9d28-8e29920eeba0
FAQ
What are the latest gold drilling results from Osisko Development's QR Mine Prospect?
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