Construction|Consulting|Design|Engineering|Gold|Mining|PROJECT|Resources|srk|SRK Consulting|Underground|WSP
Construction|Consulting|Design|Engineering|Gold|Mining|PROJECT|Resources|srk|SRK Consulting|Underground|WSP

Cariboo gold project, Canada – update

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8th March 2024

By: Sheila Barradas

Creamer Media Research Coordinator & Senior Deputy Editor


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Name of the Project
Cariboo gold project.

Wells-Barkerville mining camp, in the District of Wells, British Columbia, Canada.

Project Owner/s
Osisko Gold Royalties acquired Cariboo in September 2019 through the acquisition of Barkerville Gold Mines.

Project Description
The Cariboo gold project is an extremely scarce asset, with measured and indicated resources totalling 14.6-million ounces grading 3.33 g/t gold, and 15.47-million ounces in the inferred resource category grading 3.44 g/t gold. Probable reserves are estimated at 16.7-million tonnes grading 3.78 g/t gold.

A feasibility study, released in early 2023, envisions a robust and scalable underground operation expected to produce about 1.87-million ounces of gold over a 12-year mine life.

Potential Job Creation
The project is expected to contribute about 320 permanent jobs during the production phase and an additional 120 during the construction phase.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at a 5% discount rate, of C$502-million and an internal rate of return of 20.7%.

Capital Expenditure
Preproduction capital expenditure is estimated at C$137.3-million. Expansion capital is estimated C$451.1-million.

Planned Start/End Date
First production is expected in 2024 and Phase 2 in 2027.

Latest Developments
Osisko Development has secured funding for ongoing detailed engineering and preconstruction activities at the Cariboo gold project.

The $50-million delayed draw term loan from the National Bank of Canada will enable Osisko to start development of a 1.2 km underground drift and to enhance design engineering work ahead of the anticipated receipt of permits in the second quarter of 2024.

Key Contracts, Suppliers and Consultants
Allnorth Consultants; BBA; InnovExplo; Golder Associates; Mining Plus Canada Consulting; SRK Consulting; and WSP Canada (preliminary economic assessment).

Contact Details for Project Information
Osisko Gold Royalties, tel +1 514 940 0670 or email

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Edited by Creamer Media Reporter



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