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Osisko Development is advancing a feasibility study and project financing for its Cariboo gold project in British Columbia after getting a construction permit this month, founder and CEO Sean Roosen told a recent London event.
The 5,000-tonne-per-day underground project holds 2 million oz. in reserves and 3.3 million oz. in resources, with initial production targeting 200,000 oz. gold annually. Roosen called the site “one of Canada’s most exciting mining camps.” He told The Northern Miner’s International Metals Symposium on Dec. 1 that it has “multiple mines” across an 83-km mineralized trend.
Osisko is to use advanced ore-sorting and road-header tech to reduce waste and environmental impact. It will run on green power from BC Hydro. The company plans to expand production to 15,000 tonnes per day, which could boost annual output to 500,000 ounces. Osisko has $130 million in cash and little debt. It is close to finishing a $750 million financing package for a project, Roosen said. A construction decision is also expected next year.Nigeria resumes mining in Zamfara state on improved securityEl Salvador president proposes bill to overturn metals mining ban
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