- Osisko Development (ODV) has announce drilling results from its Cariboo Gold Project in British Columbia
- Overall, the company intersected 10.93 grams per tonne (g/t) of gold over 12 metres
- Thanks to the closing of the Flow Through financing, the company has been able to expand its 2021 Cariboo drilling program to 200,000 metres
- The mineralized quartz veins on the project are sub-vertical dip and northeast strike
- Shares of Osisko Development were up 1.63 per cent to C$7.47 as of 10:02 a.m. EDT
Osisko Development (ODV) has announced drilling results from its Cariboo Gold project in British Columbia.
Assay results yielded results from holes CM-20-086 to CM-20-099, which were drilled in the Valley Zone.
Key drilling highlights include 10.81 grams per tonne (g/t) of gold over 6.8 metres, including 100.50 g/t gold over 0.5 metres in hole CM-20-086 and 10.93 g/t gold over 12 metres in hole CM-20-089.
"Drilling in the Valley Zone continues to confirm and expand the known vein corridors down dip and along strike," Chris Lodder, president of Osisko Development, said in a release.
"In light of recent highly positive drill results and the recent closing of the Flow-Through Financing, Osisko Development has expanded its 2021 Cariboo drill program to 200,000 metres and will actively bring further regional targets to drill stage."
As it currently stands, there are currently 10 rigs that are active on the property with four of them in the Valley Zone deposit.
Located in east-central British Columbia, the Cariboo Gold Project, through the company's 100 per cent owned subsidiary Barkerville Gold Mines, is an underground gold mine.
An updated mineral resource estimate for the project includes 3.2 million ounces of gold, with 21.4 million tonnes grading 4.6 g/t of gold and 2.7 million ounces of gold, including 21.6 million tonnes grading 3.9 g/t of gold.
Shares of Osisko Development were up 1.63 per cent to C$7.47 as of 10:02 a.m. EDT.