CANADA —Osisko Gold Group Inc. has formally extended its engagement with JDS Energy & Mining Inc. to manage underground mine development and associated works for the Cariboo Gold Project in British Columbia, Canada. Executed through Osisko Gold's subsidiary, Barkerville Gold Mines Ltd., the contract continuation supports ongoing mine construction at the wholly-owned gold site. Osisko Gold Group Inc. is a Canadian precious metals exploration and development enterprise listed on the Toronto Stock Exchange Venture Exchange and the New York Stock Exchange, specializing in large-scale gold assets in North America.
Alongside the development contract, Osisko Gold disclosed analytical data from an underground definition drilling program targeting the Lowhee Zone at the 1290-meter elevation level. The 3,933-meter, 36-hole drill campaign demonstrated notable mineralization, returning core intervals including 7.28 grams per tonne gold over 16.15 meters at a vertical depth of approximately 105 meters, as well as 7.13 grams per tonne gold over 11.60 meters at 61 meters vertical depth. Several drill intercepts identified mineralization beyond currently modelled reserve stopes, providing structural evidence of resource expansion potential.
Securing experienced underground contractors ensures continuity in subterranean excavation as site development transitions toward production infrastructure. Demonstrating high-grade mineralization beyond established block models reduces technical risk, improves subsurface spatial modeling, and supports potential conversion of inferred resources into higher-confidence mineable reserves. Consistent drill density and underground access infrastructure remain vital for optimizing short-term mine schedules and subterranean haulage routes.
For the broader mining sector and capital markets, successful infill programs and uninterrupted underground execution enhance project economic viability during development phases. Ongoing operational progress in established Canadian mining jurisdictions offers risk-mitigated exposure to precious metals assets, reinforcing investor confidence in regional resource infrastructure, contractor capacity, and North American gold development trajectories.
