Osisko Development Corp. (TSXV: ODV) has received an initial open pit resource estimate for the Sapuchi, Golfo de Oro, California, High Life and Calvario Deposits at its San Antonio Project in Sonora State, Mexico.
San Antonio Project Mineral Resource
- Indicated Mineral Resource of 576,000 ounces of gold and 1.37 million ounces of silver (14.9 million tonnes grading 1.2 g/t Au and 2.9 g/t Ag).
- Inferred Mineral Resource of 544,000 ounces of gold and 1.76 million ounces of silver (16.6 million tonnes grading 1.0 g/t Au and 3.3 g/t Ag).
- Mineral resource comprises oxide, transition and sulphide zones for each deposit using 0.27 g/t Au cut-off grade for oxide and 0.44 g/t Au cut-off grade for transition and sulphide and a 50-degree pit slope.
- The 2022 Mineral Resource Estimate (MRE) covers a portion of the Sapuchi – Cero Verde trend that encompasses five deposits: Sapuchi, Golfo de Oro, California, Calvario and High Life over approximately 2.8 km along strike, a maximum width of 600 metres (m) to a maximum depth of 300 m below surface.
- The MRE is based on 84,454 m of current and verified historic drilling in 579 holes, of which 27,870 m of drilling in 177 holes were drilled by the company in 2021.
- Gold mineralisation is hosted within altered hydrothermal breccia and sediments, as stockwork quartz veins and veinlets, adjacent to intrusions and fault structures and often associated with iron carbonate minerals.
The MRE incorporates five deposits, Sapuchi, California, Golfo de Oro, High Life and Calvario, as part of what comprises 2.8 km of the 10.0 km within the Sapuchi-Cero Verde trend of the San Antonio Project.
Potential mining scenarios indicate a strip ratio of 1.0 to 6.7. The MRE was conducted by Talisker Exploration Services Inc., under the supervision of Servicios Geológicos IMEx, S.C and Micon International Limited.
The deposits are constrained within a geologic model of the hydrothermal breccia, the main mineralisation control known to date. Additional drill targets remain underexplored on the property and new exploration drilling is recommended to verify historic data and potentially add new resource. Further infill and exploration drilling is recommended on the Project.
Operational Update
The San Antonio Project gold mineralisation is characterised by hydrothermal breccia that forms an approximately 3,000 m long east-northeast trending mineralisation corridor with the Luz del Cobre copper deposit at the east. The gold mineralisation is associated with intense chlorite and carbonate alteration and is intrusion related with host sedimentary rocks. The breccia has been defined to a vertical depth of 500 m and at an average depth of 250 m. Drilling has occurred within the three major zones at Sapuchi, Golfo de Oro and California, over a combined strike length of one km of the three km breccia trend.
Since Osisko Development’s acquisition of the San Antonio Project in November 2020, the company has successfully achieved the following operational milestones
- The construction of a leach pad and carbon in column plant at the end of 2021 to process stockpiled mineralised material.
- The stockpile has a total of 1.1 M tonnes with an average grade of 0.57 g/t Au.
- The processing of the stockpile began in Q4 2021 and currently, 680,000 tonnes of mineralised material has been placed and processed.
“The addition of this new resource further strengthens our portfolio for near term advancement and towards possible production. Osisko Development has made considerable progress at San Antonio in the past year with the construction of the leach pad, near term processing of the stockpile and completion of a drill program to generate this initial resource. The company believes there is potential to add to the mineral resource through continued exploration and drilling on the property,” Chris Lodder, President of Osisko Development, said.
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