Osisko cuts 15 metres, 23 g/t gold at Island Mountain

Canadian Mining Journal Staff | June 2, 2021 | 12:26 pm Exploration Canada Gold 
Osisko receives permit for bulk sampling at Cariboo
Osisko is developing an underground mine at its Cariboo gold project (adit in lower right corner). Credit: Osisko Development

Osisko Development (TSXV: ODV) has shared more drilling results from the 200,000-metre program at its Cariboo gold project in British Columbia. The property covers 2,071 sqkm in the Wells-Barkerville district.

The recent highlights come from the Island Mountain target:

  • 2.7 metres assaying 21.94 g/t gold in hole IM-21-003;
  • 2.3 metres at 23.48 g/t and 10.9 metres at 5.24 g/t in hole IM-21-004;
  • 4.1 metres at 13.39 g/t including 1.3 metres of 41.30 g/t in hole IM-21-005;
  • 15.0 metres at 23.32 g/t including 1.0 metre at 85.80 g/t and 1.0 metre at 118.50 g/t in hole IM-21-009; and
  • 4.4 metres at 16.83 g/t including 0.8 metre at 73.40 g/t in hole IM-21-010.

Island Mountain includes the Mosquito Creek and Shaft deposits which have been modeled to an average depth of 350 metres, although some mineralization has been drilled as deep as 700 metres. The zones remain open.

Osisko has the Cariboo project in the permitting and development stages for an underground mine and mill. The resource estimate, including Cariboo and Bonanza Ledge, are 240,000 measured tonnes at 5.1 g/t gold, 3.2 million indicated tonnes at 4.6 g/t, and 2.7 million inferred tonnes at 3.9 g/t. The operation could produce over 200,000 oz. per year.

(This article first appeared in the Canadian Mining Journal)

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