Osisko Development Launches Fully-Funded 70,000-Meter Exploration Drilling Campaign Targeting New Discoveries at Cariboo Gold Project

Core Insights - Osisko Development Corp. has initiated a fully-funded 70,000-meter exploration drilling campaign at the Cariboo Gold Project, aiming for new discoveries in British Columbia, Canada [2][4]. Exploration Program Details - The exploration program will utilize multiple drill rigs, starting with two and ramping up to six by the end of 2026, focusing on key targets such as Cariboo Deep, Proserpine Mountain, and Barkerville Mountain [3][4]. - The Cariboo Deep target will involve approximately 10,000 meters of drilling in 11 holes, aiming to explore areas beneath the existing deposit to a depth of 800 meters [5][9]. - Proserpine Mountain will see around 20,000 meters of drilling across more than 30 holes, targeting a potential open-pit area southeast of the Cariboo deposit [4][5]. - Barkerville Mountain will have initial drilling planned in the Lowhee-KL Gap Zone and Williams Creek, focusing on new discoveries adjacent to the existing mineral resources [5][15]. Mineral Resource Estimates - The Cariboo Gold Project currently hosts probable mineral reserves of 2.071 million ounces of gold, with measured and indicated resources totaling 1.604 million ounces and inferred resources of 1.864 million ounces [21][27]. - The existing mineral resources are primarily defined to an average depth of 350 meters, with the new drilling program aimed at extending this depth by at least 300 meters [9][21]. Future Updates - A preliminary exploration progress update is expected in Q2 2026, providing insights into the outcomes of the ongoing drilling efforts [4].