Osisko Development Corp. reported that it has completed 10,000 m of its 13,000‑m infill drilling program at the Lowhee Zone of the Cariboo Gold Project, representing 72 % of the total program and 44 % of the planned meters. The drilling effort, which began in August 2025, is on schedule to finish in the first quarter of 2026.
The program has produced several high‑grade intercepts that refine the mine design. Notable results include a 57.29 g/t Au interval over 3.05 m and a 625.95 g/t Au interval over 0.5 m, along with additional high‑grade composites in adjacent holes. These findings confirm the continuity of the modeled vein corridors and suggest the potential for additional mineralization beyond the current reserve outlines.
President Chris Lodder said the tighter drill spacing “sharpens our understanding of vein corridor spatial geometries and local variability, while reinforcing the importance of infill drilling in underexplored zones.” He added that the data will help “refine production designs and sequencing,” underscoring the company’s confidence that the Cariboo project is moving closer to a robust, cost‑effective mine plan.
The improved mine planning is expected to lower both capital and operating costs, supporting Osisko’s goal of commercial production by the second half of 2027. By de‑risking the resource and tightening the mine design, the company can reduce contingency budgets and optimize equipment utilization, which should translate into a more efficient ramp‑up and a stronger financial profile as the project moves from development to production.
Analysts have responded positively to the drilling results, upgrading the company’s outlook and citing the project’s advanced permitting status, secured financing, and the favorable gold price environment as key tailwinds. The progress also aligns with Osisko’s broader strategy of divesting non‑core assets and concentrating on the Cariboo Gold Project, reinforcing the company’s position as a near‑term gold producer.
The Cariboo Gold Project remains fully permitted and shovel‑ready, with a projected 10‑year mine life and an anticipated annual production of roughly 190,000 oz of gold. Osisko’s recent financing through the Appian facility and private placements provides the capital needed to accelerate construction and bring the project to commercial production, further strengthening the company’s long‑term growth prospects.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.