Mike Fagan,
Editor
June 18, 2025
Osisko Development Corp. (NYSE: ODV)(TSX-V: ODV) — currently trading around C$2.90 per share in a near-record gold market — is a North American-focused gold developer advancing a portfolio of 100%-owned, past-producing, district-scale projects across top-tier jurisdictions.
Osisko’s (“ODV”) flagship asset is the shovel-ready Cariboo Gold Project in British Columbia, Canada. That project is supported by two additional growth-stage properties: the Tintic Gold Project in Utah and the San Antonio Gold Project in Sonora, Mexico.
Flagship Cariboo Gold Project: British Columbia, Canada
Earlier in Q2, ODV released an updated NI 43-101-compliant Feasibility Study for its 100%-owned Cariboo Gold Project.
The project is located in central British Columbia’s prolific Cariboo Mining District, which has historically produced over 4 million ounces of gold primarily from underground operations around Barkerville.
The newly completed Feasibility Study outlines average annual gold production of 190,000 ounces over a 10-year mine life totaling 1.89 million payable ounces.
Highlights include a post-tax NPV(5%) of C$943 million, an IRR of 22.1%, and AISC of US$1,157/oz using a base-case gold price of US$2,400/oz. Initial capex is pegged at C$881 million.
Osisko Development Corp. CEO Sean Roosen — whom you’re about to hear from directly in our exclusive interview coming right up — commented on the Cariboo Feasibility Study results and surrounding land position via press release:
“The completion of this optimized Feasibility Study represents a critical milestone for the Cariboo Gold Project, one of the few undeveloped, permitted gold projects in a Tier-1 jurisdiction. The results reaffirm our view that Cariboo is a high-quality asset with robust returns and significant upside potential within the existing mine plan. Our immediate focus remains on advancing project financing and further de-risking the project toward FID, but, we believe additional work could support potential future production increases within the planned mine footprint. Additionally, our extensive land position around the Project area offers numerous opportunities for new discoveries in this prolific gold belt. With today’s favorable gold price backdrop and positive outlook, we believe this project is well-positioned to deliver substantial value to all stakeholders. We look forward to sharing further updates in the coming months.”
The ODV team envisions the Cariboo project as a low-impact underground operation with strong scalability and room for future expansion supported by mechanized bulk mining methods and regional infrastructure.
To-date, Osisko has completed 1,172 meters of underground development to access the bulk sample area with results expected in Q3 2025.
Tintic Gold-Copper Project: Utah, USA
Osisko is currently conducting Phase-2 regional drilling at its 100%-owned Tintic Project — located in the historic East Tintic Mining District of central Utah — targeting porphyry-style copper-gold-molybdenum mineralization.
The Tintic District was one of the richest and most productive mining camps in Utah during the late 19th and early 20th centuries. Historically, the district produced over 2.5 million ounces of gold, 200 million ounces of silver, and significant base metals from a variety of vein and replacement-style deposits.
In 2023, Osisko completed 6,028 meters of underground drilling across 73 diamond drill holes at the Trixie deposit with results up to Hole-069 included in the 2024 Mineral Resource Estimate (MRE). The MRE includes 150,000 ounces of gold in the Measured & Indicated category and 51,000 ounces in Inferred.
Fieldwork completed to-date has enhanced ODV’s understanding of the geology, which, in turn, has revealed strong potential for additional high-grade gold fissure zones adjacent to existing mine development with much of the high-priority Trixie area still unexplored.
As part of the ongoing Phase-2 program [initiated in December 2024 at the Trixie target], two deep holes at Big Hill West and Zuma are expected to be completed in the coming months.
Additionally, the Trixie Ramp development is now 100% complete, providing improved underground access and supporting the next phase of high-grade gold exploration.
ODV has also begun small-scale heap leach operations to reprocess historical tailings and stockpiled material with initial gold production expected in Q2 2025.
San Antonio Gold-Silver-Copper Project — Sonora, Mexico
ODV’s 100%-owned San Antonio Project — located in Sonora, one of Mexico’s most prominent and mining-friendly states — remains in care and maintenance pending permit approvals.
Recent developments suggest renewed momentum for open-pit permitting in Mexico with the ODV team planning to re-submit two pending applications later this year. A strategic review is also underway to assess forward options for the gold-dominant project.
Q1 2025 Financial Snapshot
As of March 31, 2025, Osisko Development Corp. held approximately C$77.6 million in cash and cash equivalents. Osisko has a current market cap of ~C$415M and an enterprise value of ~C$300M.
The company also recently strengthened its team with the addition of David Rouleau — a seasoned mining executive with over 30 years of experience in project development and operations — as vice president of project development.
Looking Ahead
With feasibility-stage economics at Cariboo, active drilling at Tintic, permitting progress in Mexico, a strong treasury and seasoned team, Osisko is well-positioned for multiple near and mid-term catalysts as it advances toward gold producer status.
Hot on the story as always, our own Gerardo Del Real of Junior Resource Monthly caught up with Osisko Development Corp. CEO Sean Roosen to go over the plans and process for advancing the Carbioo project and much more. Please enjoy!
For additional information on Montreal-based Osisko Development Corp., please contact the company’s IR department at 888-974-1402 or via email at info@osiskodev.com.
Visit the Osisko Development corporate website and sign up to receive updates directly from the company here. View the most recent Corporate Presentation here.
Yours in profits,
Mike Fagan
Editor, Resource Stock Digest
Click here to see more from Osisko Development Corp.
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