Osisko Development's Caribou Gold Project Update | Sean Roosen and Jimmy Connor

This interview was released on Jan 18'25...Osisko Development's Cariboo Gold Project, is an advanced stage feasibility level gold project located in central British Columbia in the historical Wells-Barkerville mining camp. It is fully permitted and close to infrastructure and is well on its way to first production.

Osisko Development https://osiskodev.com/

Here’s a summary of the key points from the YouTube video:

Osisko Group's Legacy: Sean Roosen highlighted Osisko's history, including its founding in 2003, key acquisitions, and the development of Canada's largest gold mine, the Canadian Malartic. The company has raised $3.6 billion in equity and created a combined market cap of $122 billion across its projects.

Caribou Gold Project Overview: Located in British Columbia, the Caribou project has 2 million ounces of drilled reserves and 3.3 million ounces in measured, indicated, and inferred categories, with an average grade of ~3.7 g/t. It is designed to be a bulk-tonnage, highly mechanized operation.

Historical Context and Innovation: The Caribou camp has been a mining area since 1858. Osisko reinterpreted the geology with modern techniques, moving away from chasing high-grade "chocolate chip" deposits to a bulk-tonnage model.

Feasibility and Exploration: The 2023 feasibility study outlined a mining plan to 350 meters depth, with additional drilling indicating significant extension potential beyond 1,000 meters. The project averages 1.2 million ounces of gold per kilometer of strike length.

Permitting Milestone: Caribou received environmental and mining permits in late 2024, marking it as one of the few projects in the sector with permits, streamlining its path to production.

Technological Optimization: Updates include advanced ore sorting, improved flotation circuits, and a gravity circuit, enhancing metallurgical recovery and reducing concentrate tonnage while increasing grade.

Green and Mechanized Mining: The mine aims to utilize electrified equipment, battery-operated trucks, and low-cost energy solutions, making it a highly efficient and environmentally friendly operation.

Production Timeline: The target for production is 2027, pending project financing. With 12,200 meters of underground development in place, detailed drilling continues to refine reserves.

Financial Outlook: With a forecast all-in sustaining cost (AISC) of $1,000 per ounce and high gold prices ($2,670/oz), the project offers strong profit margins. Additional drilling may increase reserves to 3.5–4 million ounces.

Osisko's Expertise: Sean Roosen emphasized Osisko’s success in identifying and developing world-class assets, comparing Caribou’s potential to the Canadian Malartic, which grew significantly under Osisko's stewardship.

This summary captures the main aspects of the discussion and the strategic vision for the Caribou Gold Project.

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