Reviewed by Lexie CornerDec 16 2024
Osisko Development Corp. has presented an update on its ongoing bulk sample and underground development activities at the Cariboo Gold Project in central British Columbia, Canada.
Visible sulfide mineralization in the bottom sill development. Image Credit: Osisko Development Corp.
The company has completed approximately 1,172 meters of underground development to access the target area for the bulk sample within the deposit's Lowhee Zone.
A total of 10,000 metric tons of mineralized material is being extracted, with preparations nearing completion. Blasting and extraction are expected to conclude in the coming weeks, and stope preparation is nearly finished. Results from the bulk sample are anticipated in Q1 2025 and will support the ongoing work on the optimized feasibility study, scheduled for completion in Q2 2025.
Our team has made significant progress on underground development, with approximately 1.2 kilometers completed to reach the bulk sample target area. We are now in the heart of the orebody in the Lowhee Zone and getting preliminary visual confirmation of the geology underpinning the Cariboo Gold Project. We have included some images from these zones in this release and are encouraged by our preliminary assessments. Once the bulk sample is extracted, it will undergo ore sorter testing at Tomra's facility in Saskatoon, Saskatchewan, and processing into a concentrate.
Sean Roosen, Founder, Chairman, and Chief Executive Officer, Osisko Development Corp.
“These steps will provide valuable grade reconciliation data relative to the resource model and validate our assumptions on ore sorting. Both efforts are expected to significantly derisk the project from a technical standpoint as we continue to progress towards securing a fully funded financing solution to advance the project,” added Sean Roosen