- Osisko Development Corp. (ODV) has filed a technical report for its recently purchased Tintic Project in Utah
- The project involves several past producing precious and base metal mines
- Its report involves the geology and mineralization description of land and ownership, property history, current development, and production
- A mineral resource estimate related to this report is expected to be done by years end
- Osisko will invest at Trixie over the following months to advance exploration initiatives
- Osisko Development Corp. (ODV) is up 1.99 per cent trading at $8.72 per share as of 2:26 p.m. ET
Osisko Development Corp. (ODV) has filed a technical report for its recently purchased Tintic Project in Utah.
The project includes several past producing precious and base metal mines over a 17,000-acre area, most of which is covered by patented claims.
The company’s report discusses the geology and mineralization description of land and ownership, property history, current development, and production on the project.
Osisko said it still has no mineral resource estimate established yet but expects to complete one by the end of this year. The current production at Trixie is directed by underground exploration, face sampling, and drilling.
“We believe that we have the potential to define the resource estimate and provide a basis for future production at a low capital cost… excited about the quality of exploration targets at Trixie, and the areas beyond Trixie within the large wholly owned district,” Sean Roosen, CEO of Osisko Development, said.
The company intends to invest at Trixie over the following months to advance exploration initiatives, including constructing an underground exploration ramp and continuing with diamond drilling and sampling.
So far, samples taken by Osisko have shown average grades of gold and silver and had a total of 27,400 tonnes of mineralized material mined from September 2020 through to the end of December 2021.
Mining between this period collected 15,752 ounces of gold and 17,605 ounces of silver. The total revenue collected from the previous asset owner from January to the end of December 2021was close to $26.1 million.
Osisko Development Corp. (ODV) is up 1.99 per cent trading at $8.72 per share as of 2:26 p.m. ET.