Osisko Development (TSXV: ODV) has received the notice of work permit to begin development that will lead to bulk sampling at its Cariboo underground gold project. The past-producing property is located near Quesnel, B.C.
The company intends to take a 10,000-tonne sample from the Cow Mountain deposit. A total of 2,200 metres of development is planned. The sampling program will be carried out using the Sandvik MT-720 roadheader previously tested at the Bonanza Ledge operation. The sample will be processed in a new Steinert ore sorter to further improve confidence in the technique.
Underground drill bays on the Cow and Lowhee deposits are also covered by the permit. These bays will increase the pace of exploration and infill drilling.
Osisko also reported highlights of recent drilling at Cariboo. Hole IM-21-037 cut 7.4 metres grading 11.76 g/t gold when it intersected a vein corridor at the Shaft zone, which remains open along strike to the south. Hole IM-21-048 cut 0.5 metre grading 21.2 g/t gold and 0.8 metre grading 25.3 g/t gold to a vertical depth of 325 metres at Mosquito Creek.
About half of the 200,000 metres of planned drilling this year is complete. Infill drilling within the mineral resource outlined last year continues to intersect modelled vein corridors and new veins at depth.
The Cariboo project includes 21.2 million measured and indicated tonnes grading 4.6 g/t gold, and 21.6 million inferred tonnes grading 3.9 g/t gold. Contained gold in the categories is 3.2 million oz. and 2.7 million oz., respectively.
Find detailed drilling results at www.OsiskoDev.com.
April 23, 2024
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