Osisko Development advances underground work at Cariboo Gold Project

Osisko Development Corp. has completed 1,172 meters of underground development at its 100%-owned Cariboo Gold Project in central British Columbia. The development work provides access to the Lowhee Zone, where final preparations are underway to extract a 10,000-metric-tonne bulk sample.

The company expects to complete the blasting and extraction of the mineralized material in the coming weeks. Results from this bulk sample are anticipated in the first quarter of 2025, which will support an optimized feasibility study expected in the second quarter of 2025.

Osisko Development's founder, chairman, and CEO, Sean Roosen, stated that the progress made on underground development is encouraging. He indicated that the upcoming steps of bulk sample extraction and subsequent testing will provide valuable grade reconciliation data and validate assumptions on ore sorting, thereby reducing technical risks for the project.

The extracted bulk sample will undergo ore sorter testing at Tomra's facility in Saskatoon, Saskatchewan, followed by processing into a concentrate. This process aims to yield data that will reconcile the sampled grades with the existing resource model.