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Canada
Cariboo Project

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 Location:
63 km E from Quesnel, British Columbia, Canada

  Project Contacts:
3700 Ski Hill Rd
Wells
British Columbia, Canada
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  • Overview
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  • Mining
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  • Reserves
  • Costs & Financials
  • Fleet
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  • Filings & News

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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • Gold
Mining Method
  • Longhole stoping
  • Longitudinal retreat
  • Cemented backfill
  • Paste backfill
Mine Life12 years (as of Jan 1, 2022)
Latest NewsOsisko Development Closes Previously-Announced $51.8 Million Bought Deal Public Offering, Including Full Exercise of Over-Allotment Option     March 2, 2023


Owners

Source: p. 43
CompanyInterestOwnership
Barkerville Gold Mines Ltd. (operator) 100 % Direct
Osisko Development Corp. 100 % Indirect
Through its 100% owned subsidiary Barkerville Gold Mines Ltd. (BGM), Osisko Development Corporation (ODV) holds 100% interest in 56 Cariboo Main Block placer titles, 35 QR Mill Property mineral claims, the QR mineral lease No.320752, and 359 of the 376 Cariboo Main Block mineral and placer claims and placer leases. 17 mineral claims are jointly owned with other companies and individuals: ODV holds a 97.5% interest in six mineral claims, and 85% interest in two mineral claims, and a 50% interest in the other nine mineral claims.

Contractors

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Deposit Type

  • Vein / narrow vein
  • Replacement
  • Orogenic


Summary:

The Cariboo Gold Project shares many characteristics with an orogenic gold deposit model.This class of deposit is typified by deformed and metamorphosed mid-crustal blocks and major structures, inherent products of orogenesis. Orogenic gold deposits span the entire breadth of the province of British Columbia, occurring predominantly within two main belts. The westerly belt is associated with accreted pericratonic terranes linked to Late Cretaceous to Paleocene movement on crustal-scale dextral strike-slip fault systems along the western margin of the Stikine terrane, and eastern Coast Belt (e.g., Bralorne-Pioneer, Atlin, Cassiar). The easterly belt is crudely cospatial with the Jurassic to Cretaceous accretion of the Intermontane terranes and autochthonous strata of the ancestral North American (e.g., Cariboo, Sheep Creek) (Allan, 2017). Orogenic deposits have significant economic importance, as they are known to host auriferous mineralization as high-grade vein deposits, low-grade bulk-tonnage lode deposits, and are intimately linked with substantial placer accumulations (Goldfarb et al., 2001; 2005).

Gold-bearing veins and replacement-style mineral deposits in the Cariboo Gold Project are interrelated but can be subdivided into five principal types:

1. Fault-fill shear veins in fractured early-phase quartz lenses within carbonaceous mud and siltrich, foliation sub-parallel (northwest-southeast trending) shear zones (BC Vein-style);
2. Sub-vertica ........


Mining Methods

  • Longhole stoping
  • Longitudinal retreat
  • Cemented backfill
  • Paste backfill


Summary:

The Project consists of three main zones (Cow, Shaft, and Valley) with two smaller satellite zones (Lowhee & Mosquito). The rate of exploitation of each deposit will change over time, while the overall steady state production rate is 8,000 tpd. In 2024, production will begin at 2,000 tpd for 2.5 years and will ramp up to 8,000 tpd (pending permitting) in 2027 for 9.5 years.

The selected mining method is long hole with longitudinal retreat. Primary materials handling fleet will comprise of 10 tonne (t) scooptram Load Haul Dump (“LHD”) and 50 t haul trucks.

Pre-production of the underground workings is set to begin in 2023 with 2,000 tpd achieved in Q4 2024 and full production of 8,000 tpd at the Mine Site Complex in Q1 2027. Underground mine life
is set to last until 2035.

The long hole mining method was primarily selected due to the sub vertical geometry of mineralized vein corridors and the relatively lower cost. This method involves driving two drifts longitudinally along the mineralized vein corridors to define a stope. The top access serves as a drilling platform while the bottom access allows for mucking of drilled then blasted material. Once empty, these stopes are then backfilled with either pastefill or cemented rockfill. Stopes are mined retreating towards the access. This method allows for simultaneous mining of stopes along different vein corridors as well as along the same corridor if a pillar exists between active levels.< ........


Crushing and Grinding
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Processing

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Summary:

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Projected Production:

CommodityUnitsAvg. AnnualLOM
Gold koz 2362,837
All production numbers are expressed as payable metal.

Operational Metrics:

Metrics
Daily ore mining rate  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Daily processing capacity  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
* According to 2022 study.
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Reserves at May 24, 2022:
Cariboo Gold Project 2022 Mineral Resource Estimate reported at a 2.0 g/t Au cut-off grade (except for Bonanza Ledge: reported at a 3.5 g/t Au cut-off grade).

CategoryTonnage CommodityGradeContained Metal
Measured 47 kt Gold 5.1 g/t 8 koz
Indicated 27,055 kt Gold 4 g/t 3,463 koz
Measured & Indicated 27,102 kt Gold 4 g/t 3,470 koz
Inferred 14,407 kt Gold 3.5 g/t 1,621 koz

Commodity Production Costs:

CommodityUnitsAverage
Cash costs Gold USD  ......  Subscription required *†
All-in sustaining costs (AISC) Gold USD  ......  Subscription required *†
Operating margin Gold USD  ......  Subscription required&nbs
Assumed price Gold USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
† Net of By-Product.
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Operating Costs:

Units2022
UG mining costs ($/t mined) CAD 53.3 *
Processing costs ($/t milled) CAD  ......  Subscription required
G&A ($/t milled) CAD  ......  Subscription required
Total operating costs ($/t milled) CAD  ......  Subscription required
* According to 2022 study.
Subscription required - Subscription is required.

2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M CAD  ......  Subscription required
Expansion CapEx $M CAD  ......  Subscription required
Sustaining CapEx $M CAD  ......  Subscription required
Closure costs $M CAD  ......  Subscription required
Total CapEx $M CAD  ......  Subscription required
UG OpEx $M CAD  ......  Subscription required
Processing OpEx $M CAD 675.8
Transportation (haulage) costs $M CAD 108.5
G&A costs $M CAD 216
Total OpEx $M CAD  ......  Subscription required
Mining Taxes $M CAD  ......  Subscription required
Income Taxes $M CAD  ......  Subscription required
Total Taxes $M CAD  ......  Subscription required
Royalty payments $M CAD  ......  Subscription required
Gross revenue (LOM) $M CAD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M CAD  ......  Subscription required
After-tax Cash Flow (LOM) $M CAD  ......  Subscription required
Pre-tax NPV @ 0% $M CAD  ......  Subscription required
Pre-tax NPV @ 5% $M CAD  ......  Subscription required
After-tax NPV @ 0% $M CAD  ......  Subscription required
After-tax NPV @ 5% $M CAD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
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Proposed Heavy Mobile Equipment as of May 24, 2022:
HME TypeSizeQuantityLeased or
Contractor
Bolter 110 kW ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
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....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
....................... Subscription required ....................... Subscription required ....................... Subscription required Leased
Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required May 24, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 24, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 24, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 24, 2022
Subscription required - Subscription is required.

Staff:

EmployeesYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Feasibility Study Report 2023
Corporate Presentation 2022
Corporate Presentation 2022
Other 2022
Preliminary Economic Assessment 2022
................................... Subscription required 2019
Annual Report 2018
Project Description 2017
Year-end Mineral Reserves 2017
Management Discussion & Analysis 2016
Other 2016
Management Discussion & Analysis 2015
Other 2015
Subscription required - Subscription is required.

News:

NewsDate
Osisko Development Closes Previously-Announced $51.8 Million Bought Deal Public Offering, Including Full Exercise of Over-Allotment Option March 2, 2023

Subscription required - Subscription is required.

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