- Osisko Development (ODV) has outlined the results from a recent category conversion drill program at its Cariboo Project in British Columbia
- 74 holes were completed over a total of 24,000 metres at the Valley Zone, with intercepts up to 12.1 metres at 9.33 grams per tonne of gold
- The region had not been drill tested since 2017, and the results suggest significant potential to add both inferred and indicated resources to the deposit
- A 2021 drill program has now been started, with 10 rigs expected to be active at the project by January 15
- Osisko Development is currently steady at C$8.10 per share
Osisko Development (ODV) has outlined the results from a recent category conversion drill program at its Cariboo Project in British Columbia.
Located in the prolific Cariboo Mining District, east and southeast of the city of Quesnel, the project covers 2,071 square kilometres and hosts a measured and indicated resource of 3.2 million ounces of gold, or 21.4 million tonnes at an average grade of 4.6 grams per tonne of gold.
This estimate is based on almost 500,000 metres of core from drilling work completed from 2015 to 2019, as well as historically verified drill data from 2,218 drill holes.
During the latest program, the Montreal-based company completed 74 holes at the Valley Zone over a total of 24,000 metres. Some of the most significant holes returned up to 12.1 metres at 9.33 grams per tonne of gold, including 0.6 metres at 62.9 grams per tonne of gold.
The region had not been tested since 2017, and the new data suggests the potential to add both inferred and indicated resources to the deposit.
“We are still seeing many exciting new zones in this project that are within the current mine plan area,” said Sean Roosen, CEO of Osisko Development.
“With the recent financing of over 200 million dollars completed, we will be increasing our rig count and intensifying our exploration efforts both in the current mine plan area and on the new targets that have been generated on along the 83 kilometres (50 mile) long mineralised trend,” he added.
Osisko Development has now launched a 2021 drill program, with a total of 10 rigs expected to be active at the caribou Project by January 15.
Osisko Development is currently steady at C$8.10 per share as of 1:13pm EST.
