Project UpdateAug 5, 2026, 07:07 AM
Osisko Gold Confirms Gold System at Proserpine; High-Grade Intercepts
AI Summary
Osisko Gold announced initial drilling results from its Proserpine regional greenfield target, located 7 km from its Cariboo Gold Project. The results confirm an emerging gold mineralized system with high-grade structures and broader lower-grade zones, suggesting potential for open-pit mining. Key intercepts include 95.93 g/t Au over 4.60 m and 5.46 g/t Au over 8.60 m. The company plans an additional 26,500 m of drilling, which has resumed after a seasonal hiatus.
Key Highlights
- Drilling at Proserpine target confirmed an emerging gold mineralized system.
- Highlight intercept: 95.93 g/t Au over 4.60 m at 71 m vertical depth.
- Another highlight: 5.46 g/t Au over 8.60 m at 77 m vertical depth.
- Potential for open-pit mining methods indicated by broader lower-grade zones.
- 6,463 m in 14 drill holes completed at Proserpine, 7 km from Cariboo Gold deposit.
- Additional 26,500 m of drilling planned, resuming with three rigs.
- Mineralization footprint expanded to 1.0 km x 0.5 km, remaining open in all directions.
Price Impact
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