Osisko Gold (TSX-V:OGG) reports ‘high-grade’ gold intercepts from underground infill drilling at its Cariboo Gold Project in British Columbia, Canada.
The company completed 3,933m of drilling across 36 holes from the Lowhee Zone 1,290m level, targeting 10–15m spacing for resource definition.
‘Standout’ results include 7.28 grams per tonne gold (Au) over 16.15m @ approximately 105m vertical depth, featuring a ‘bonanza-grade’ section of 173.66g/t Au over 0.6m.
Additional ‘high-grade’ zones within this intercept returned 6.8g/t Au over 0.5m, 5.39g/t Au over 0.5m, and 3.58g/t Au over 0.5m.
A second ‘significant’ intercept delivered 7.13g/t Au over 11.6m at roughly 61m vertical depth, including the following multiple ‘high-grade’ sections:
- 62.06g/t Au over 0.5m
- 31.88g/t Au over 0.8m
- 18.85g/t Au over 0.5m
- 7.13g/t Au over 0.85m
- 6.47g/t Au over 0.9m
- 2.23g/t Au over 0.85m
Other notable results include 29.3g/t Au over 2.1m at 62m vertical depth, incorporating 111.38g/t Au over 0.55m, and 9.4g/t Au over 8.5m at 72m vertical depth.
President Chris Lodder says the results strengthen confidence in the Lowhee Zone deposit.
“Intercepts outside the modelled reserve stopes also suggest potential for resource conversion and upside mineralisation, reinforcing the Cariboo Gold Project’s potential as underground development advances into new zones,” Lodder notes.
The company awarded its underground mine development contract to JDS Energy & Mining effective October 5, continuing the existing partnership.
Osisko also granted 72,700 stock options at C$4 ($4.02) per share and 553,700 restricted share units to senior officers and employees under its equity incentive plan.
Osisko Gold is a North American gold development company advancing past-producing mining camps with district-scale potential, including the Tintic Project in Utah.
Write to JC Villarba at Mining.com.au
Images: Osisko Gold
