MONTREAL, Nov. 09, 2022 (GLOBE NEWSWIRE) — Osisko Development Corp. ODVODV (“Osisko development” or the “company“) is pleased to report its financial and operating results for the three months ended September 30, 2022 (or “Q3 2022“). Unless otherwise noted, all dollar references are in Canadian dollars.
Highlights of Q3 2022:
- A total of 10,958 ounces of gold sold by the Company for Q3 2022 including:
- 3,600 ounces of gold from the Trixie Test Mine (“Trixie“) within the Company’s broader Tintic project in central Utah, USA (“Tin table“); and
- 7,358 ounces of gold from the 1.1 million tonne heap leach pad at the Company’s San Antonio Gold Project (“San Antonio“).
- $22.8 million in revenue generated by the Company in Q3 2022 from the Trixie Test Mine and San Antonio operations. Please refer “Warning Notices”.
- $133.1 million approximate cash position as of September 30, 2022.
Tin table:
- Produced 5,353 ounces of gold at an average grade of 0.91 oz/t1 Ouch2 (31.3 g/t3 Au) since the date of Tintic’s acquisition by Osisko Development on May 27, 2022.
- 1,342 feet (409 meters) of portal and ramp construction completed (~25% complete) as of September 30, 2022.
- 20,000 feet (6,096 meters) reverse circulation (“RC“) drilling and 1,898 feet (622 meters) of diamond drilling since acquiring Tintic with four drill rigs currently operating.
- The $20 million metal flow at the Tintic Project was completed on September 26, 2022 with Osisko Bermuda Limited, a wholly owned subsidiary of Osisko Gold Royalties Ltd.
