- Osisko Development (TSXV:ODV) has received an environmental assessment certificate for its Cariboo Gold Project in central British Columbia
- The Cariboo Gold mine project was the first project to be approved under the B.C. government’s new Environmental Assessment Act
- The certificate is the first step in the permitting process of the Cariboo Gold Project
- Osisko Development Corp. last traded at $4.51 per share
Osisko Development (TSXV:ODV) has received an environmental assessment certificate for its Cariboo Gold Project in central British Columbia.
The certificate was granted by the Environmental Assessment Office of the Province of British Columbia.
The Cariboo Gold mine project was the first project to be approved under the B.C. government’s new Environmental Assessment Act.
The certificate is the first step in the permitting process of the Cariboo Gold Project. The company had previously signed two significant permitting agreements – the process charter and the joint information requirements table – which established a defined regulatory process timeline and outline all agreed upon information requirements to support a permit application for submission.
A joint permit application for the B.C. Mines Act / Environmental Management Act is in process. The company anticipates receiving the permits in Q1 2024.
Source: Osisko Development Corp.
“We are proud to be the first project, mining or otherwise, in B.C. to receive this certificate under the new streamlined EA framework of the Environmental Assessment Act, 2018, and we commend the Government of B.C. for establishing this robust regulatory framework,” the company’s chairman and CEO, Sean Roosen, said in a news release. “Receipt of the certificate marks a major, positive milestone for the Cariboo Gold Project. We continue to be encouraged by the steady progress made to de-risk the project, bringing it closer to shovel-ready status. As we all know, development projects fall into two buckets – those with permits and those without permits – and we are keen to unlock significant value at the Cariboo Gold Project as we move along that path.
“I would like to thank our team for their dedication and tireless efforts in shepherding the project through this rigorous process that started in 2019. Together with our partners and stakeholders, we remain committed to developing a modern, safe, and sustainable operation that benefits all.”
The Cariboo Gold Project is an advanced stage gold project in the historic Wells-Barkerville mining camp, in the District of Wells that extends for 77 kilometres from northwest to southeast. The company’s total land package consists of 415 mineral titles and covers a 1,920 square km area. The project’s probable reserves totalled 16.70 million tonnes (Mt) grading 3.78 g/t gold for 2.031 million ounces (Moz), measured resources totalled 0.05 Mt grading 5.06 g/t gold for 0.008 Moz, indicated resources totalled 14.64 Mt grading 3.32 g/t gold for 1.564 Moz, and inferred resources totalled 15.47 Mt grading 3.44 g/t gold for 1.712 Moz.
Osisko Development Corp. is a gold development company focused on advancing its 100 per cent-owned Cariboo Gold Project in B.C., the recently acquired Tintic Project in Utah and the San Antonio Gold Project in Sonora, Mexico.
Osisko Development Corp. last traded at $4.51 per share and its stock is up 10.5 per cent over the month.
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