Osisko Development Completes Cariboo Gold Project Infill Drilling

Osisko Development Corp. has announced the completion of a substantial 13,000-meter infill drilling program at its Cariboo Gold Project in British Columbia, Canada. This program was designed to increase the density of exploration data and support future mine planning.

The company also reported on ongoing drilling activities at the Lowhee underground deposit. Published results from this phase included significant gold grades, with one interval yielding 44.68 grams of gold per tonne of material over a 1.5-meter width. A narrower section within this interval assayed 133.62 grams of gold per tonne over 0.5 meters.

These findings are crucial for assessing the economic viability of the Cariboo project. Osisko Development has recently undertaken several financing initiatives, including multiple offerings of convertible senior notes totaling hundreds of millions of dollars, aimed at funding project development.

Furthermore, the company has made strategic organizational changes, appointing new vice presidents for sustainable development and construction contracting. A proposed name change to Osisko Gold Group Inc. is also on the agenda for an upcoming shareholder meeting, signaling a strategic pivot towards gold production.