Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
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:
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)
