Drill Results Routine +

Osisko Development Completes 13,000-Meter Infill Drilling Program at Cariboo Gold Project and Provides Update on Ongoing Lowhee Underground Drilling; Intercepts Include 44.68 g/t Gold Over 1.5 Meters From 27.9 Meters Downhole, Including 133.62 g/t Gold Ov

Osisko Development completes Cariboo infill drilling, though dilution and going concern risks limit the project's upside potential.

By The Northwire Desk — AI Analysis Jun 09, 2026 · 17:04 ODV · 3.25 Osisko Development Corp.

Executive Summary

Osisko Development Corp. announced the completion of a 13,684-meter underground infill and near-mine exploration drilling program at the Lowhee Zone of its Cariboo Gold Project in British Columbia.
The program targeted 10-meter spacing across 142 drill holes to refine spatial controls and support resource conversion.
Highlighted intercepts include 44.68 g/t Au over 1.5 m from 27.9 m downhole (including 133.62 g/t Au over 0.5 m) and multiple other high-grade intervals, reinforcing vein continuity.
Reconciliation of an updated localized block model is underway, with final results expected in Q2 2026 to refine production stope designs, sequencing, and future infill requirements.
The Lowhee Zone currently hosts 104,491 ounces of contained Au in probable reserves (~5% of total project probable reserves). Total Cariboo probable reserves stand at 2.071 million ounces of contained Au.

Material Impact

The completion of the infill program is a telegraphed operational milestone that does not alter the fundamental development timeline or economics of the Cariboo Gold Project.
The market has already priced in the project progress and the recent $300 million convertible note financing. The stock has declined ~15% since late May, reflecting dilution concerns and the going concern warning in the Q1 2026 MD&A.
This is a Routine - Positive update: it confirms execution on a pre-announced plan but delivers no new upside, margin expansion, or financing relief beyond what was already disclosed.

ODV · Price

Company Overview

Osisko Development Corp. is a Canadian mining company focused on the development of the Cariboo Gold Project, a 100%-owned, permitted, feasibility-stage asset in central British Columbia.
The company also holds the Tintic Project in Utah, USA, which is currently in small-scale heap leach operations.
The San Antonio Gold Project in Mexico was sold to Axo Copper Corp. in January 2026 to streamline operations and focus capital on Cariboo.
Management is led by Chairman & CEO Sean Roosen and President Chris Lodder.

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