Osisko Development Corp. (NYSE: ODV) has unveiled promising results from its ongoing infill drilling program at the Lowhee Zone, a key component of its Cariboo Gold Project in British Columbia. The latest update reveals substantial progress on the 13,000-meter campaign, with approximately 80% of the planned drilling now complete and ~12.1 kilometers of total meters drilled.
The highlight of the release is an exceptional intercept of 596.40 grams per tonne of gold (g/t Au) over a 2.0-meter interval, which notably includes an ultra-high-grade section of 2,293.56 g/t Au over 0.5 meters. This discovery underscores the potential for significant gold mineralization within the Lowhee Zone and is expected to play a crucial role in refining the project’s geological models and resource estimations.
“This tighter drill spacing gives us a better understanding of vein corridor spatial geometries and local variability specific to this part of the Lowhee deposit, while reinforcing the importance of continued drilling in underexplored zones,” stated Chris Lodder, President of Osisko Development. “As this work concludes, the resulting information is expected to help refine infill drill requirements and production designs and sequencing in the Lowhee Deposit of the Cariboo Gold Project.”
In total, the company reported new assay results from 5,043 meters of underground infill diamond drilling. These results, which are part of a broader 13,000-meter program conducted with 10-meter drill spacing, are contributing to a more detailed understanding of the spatial controls and local variability of the Lowhee Zone.
The drilling program, which commenced in August 2025, has now seen approximately 88% of its planned meters completed. However, drilling activities were temporarily suspended following an incident on January 23, 2026. The company anticipates the program will conclude in early Q2 2026, with full assay results and quality assurance/quality control (QA/QC) pending for the remaining unreported holes.
The newly reported assay highlights complement previous findings, reinforcing the potential for high-grade gold discoveries within the Cariboo Gold Project. Other notable intercepts include 21.67 g/t Au over 3.5 meters and 21.97 g/t Au over 2.5 meters, further demonstrating the complex and potentially rich nature of the Lowhee Zone.
These infill drilling results are crucial for Osisko Development as they directly inform the refinement of the Cariboo project’s mineral resource and reserve estimates. The enhanced geological data generated from this closely spaced drilling is vital for optimizing mine planning, improving production designs, and ensuring efficient resource extraction. The company expects this work to be instrumental in updating the local block model and potentially identifying opportunities for new reserve stopes.
The Cariboo Gold Project, located in central British Columbia, is a fully permitted, feasibility-stage asset and represents the company’s flagship development. With a land package spanning approximately 186,740 hectares, the project is situated in a historic and highly prospective mining district. The successful permitting of key environmental and mining acts in late 2024 has positioned the Cariboo Gold Project as “shovel-ready.”
Osisko Development’s strategic focus remains on advancing its Cariboo Gold Project towards production, leveraging its extensive land package and the rich mineral potential identified. The ongoing drilling and analysis are key steps in de-risking the project and unlocking its full economic value. The company also holds the Tintic Project in Utah, USA, which provides additional exploration upside.
The detailed geological and assay information released is supported by the company’s rigorous QA/QC protocols and verified by qualified persons. This commitment to data integrity is essential for building investor confidence and ensuring reliable resource estimations. As the infill program nears completion, the market will be looking to the final results and their impact on the updated resource and reserve models for the Cariboo Gold Project.
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