Osisko Development Corp. engages in the acquisition, exploration and development of mineral properties in Canada, the United States and Mexico.
The company is a North American gold development company focused on high-quality past-producing properties located in mining friendly jurisdictions with district scale potential. The company’s flagship mining asset is the Cariboo Gold Project, located in the District of Wells, British Columbia, Canada. The company’s project pipeline is complemented by t...
Osisko Development Corp. engages in the acquisition, exploration and development of mineral properties in Canada, the United States and Mexico.
The company is a North American gold development company focused on high-quality past-producing properties located in mining friendly jurisdictions with district scale potential. The company’s flagship mining asset is the Cariboo Gold Project, located in the District of Wells, British Columbia, Canada. The company’s project pipeline is complemented by the Tintic Project, located in Utah, the United States of America.
Material Properties
As of December 31, 2023, the company considers the Cariboo Gold Project and the Tintic Project to be its only material mineral properties for the purposes of NI 43-101.
The company’s strategy is to advance and develop the Cariboo Gold Project and the Tintic Project towards the next phase of development and if at all, to a construction decision. In line with its strategy, the company intends to continue advancing various permits and further exploration activities as well as test mining at the Tintic Project.
The company is a Canadian-based exploration and development company focused on past-producing properties located in mining friendly jurisdictions with district scale potential. The principal mining assets wholly owned through subsidiaries of the company as of December 31, 2023, are as follows:
Cariboo Gold Project (Permitting – British Columbia, Canada) (the ‘Cariboo Gold Project’), owned and operated by Barkerville Gold Mines Ltd. (‘Barkerville’).
Tintic Project (including, the Trixie test mine located within the company's wider Tintic Project) (Test mining and exploration – Utah, the United States) (the ‘Tintic Project’), owned and operated by Tintic Consolidated Metals LLC (‘Tintic’).
Cariboo Gold Project – British Columbia, Canada
The Cariboo Gold Project is an advanced stage gold exploration project 100%-owned by the company located in the historic Wells-Barkerville mining camp, in the District of Wells, central British Columbia, Canada, that extends for approximately 77 kilometres from northwest to southeast. The company's total land package consists of 415 mineral titles and covers an area of approximately 155,000 hectares. On November 21, 2019, OGR acquired the Cariboo Gold Project through the acquisition of Barkerville. The project was part of the OGR contributed assets that created the company on November 25, 2020.
Bonanza Ledge II Project – British Columbia, Canada
The Bonanza Ledge II project is a small scale and short life project that was put into care and maintenance in early June 2022. The project allows the company to facilitate (i) opportunities for managing historical reclamation obligations inherited by the company, (ii) hands on training and commissioning of the company's mining and processing complex for the Cariboo Gold Project and (iii) the maintenance of the economic and social benefits for the First Nations partners and communities. While working through the environmental assessment review, permitting process and the NI 43-101 technical report for its Cariboo Gold Project, the company produced approximately 11,424 gold ounces at its Bonanza Ledge II project.
Tintic Project – Utah, the U.S.A.
The Tintic Project is located in western Utah County, approximately 64 km south of Provo, Utah and 95 km south of Salt Lake City. The property on which the Trixie test mine or Trixie deposit is located encompasses most of the East Tintic District, surrounding and immediately east of the incorporated town of Eureka. The area of the Tintic Project owned or controlled by Osisko Development comprises 1,105 claims totaling 5,746 ha (14,200 acres) of patented mining claims and a further 107 mining claims of approximately 1,214 ha (3,000 acres), which are overwhelmingly leased patented mining claims. Osisko Development owns a small and varying percentage, interest or royalty in a number of other claims outside the main claim package.
Exploration Program
The Tintic Project consists of 23 past producing precious and base metal mines located in the East Tintic Mining District, Utah, 95 km southwest of Salt Lake City. The Tintic Project is consisted of more than 17,000 acres (6,880 ha), including 14,200 acres (5,746 ha) of patented mining claims.
San Antonio Gold Project – Sonora State, Mexico
In addition to the Cariboo Gold Project and Tintic Project, the company also owns the San Antonio Gold Project.
The San Antonio Gold Project is a past-producing oxide copper mine. In 2020, following acquisition of this project, the company concentrated its efforts in obtaining the required permits and amendments to the permits to perform its activities. The company has filed preventive reports for the processing of the gold stockpile on site and for a drilling program for the Sapuchi, Golfo de Oro and California zones.
Foreign Operations
One of the company’s material projects, the Tintic Project, is located in Utah, United States. In addition, the company also holds interests in other properties located outside Canada, including the San Antonio Project and Guerrero Properties located in Mexico.
Regulation
The Canadian Corruption of Foreign Public Officials Act, the U.S. Foreign Corrupt Practices Act and anti-bribery laws in other jurisdictions where the company does business, prohibit companies and their intermediaries from making improper payments for the purposes of obtaining or retaining business or other commercial advantage.