Osisko Development Resumes Cariboo Gold Project Work After Safety Halt
Event summary
- Osisko Development resumed site activities at the Cariboo Gold Project following a temporary suspension on January 22, 2026, due to a tragic incident.
- Approximately 250 personnel are currently onsite, operating at normal levels for the current phase of work.
- Underground development has progressed 2.1 km from the Cow Portal into the Lowhee Zone, but has been slower than planned due to challenging ground conditions.
- The Bonanza Ledge water treatment plant is nearing full operational status, with commissioning in the final stages.
- Six drill rigs are operating on surface exploration programs, with 5,000 meters of drilling completed and assays pending.
The big picture
Osisko Development's resumption of operations at the Cariboo Gold Project highlights the ongoing challenges faced by mining companies in balancing production with stringent safety protocols. The project's progress, particularly the underground development, underscores the geological risks inherent in resource extraction, which can significantly impact timelines and costs. The company's focus on infrastructure upgrades and exploration drilling signals a commitment to advancing the project towards production, but the success of this effort will depend on overcoming these operational and geological hurdles.
What we're watching
- Geological Risk
- The pace of underground development will be heavily influenced by the persistence of challenging ground conditions around the Lowhee fault, potentially impacting the project timeline and budget.
- Operational Efficiency
- The ability to improve development rates beyond the Lowhee fault zone will be critical for meeting overall project milestones and demonstrating efficient resource extraction.
- Assay Results
- The pending assay results from the 5,000 meters of drilling completed will provide crucial insights into the potential of the Cariboo Gold deposit and the Proserpine regional target.
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