Osisko Development Corporate Presentation: VRIC 2024

[Music] good afternoon everyone um Chris loer I'm the president of oysco development I'll be talking about our our principal assets I'll be doing some forward-looking statements so these are the things you can read at in your leisure uh the company is focused on two brownfields camps uh the Caribou uh gold Camp here in British Columbia and the tinck the East tinck Camp in Utah uh we've been working on the on the Caribou Camp since about 2016 and the tinck camp we were targeting in there since 2010 but picked it up in 2022 um last year we we delivered on some of our our main um items there were the feasibility study at Caribou completing that early in the year and then the uh EA certificate the environmental assess certificate here in British Columbia which we were given in October of last year and that's tied up allowed us to go on to the permitting phase which we hope to have done by by mid this year uh we also put out an initial resource from the from previous work done on the on the Trixie mine small resource there and we raised about $52 million early in the year um in proceeds there we presently have about uh at the end of Q3 about $70 million in the bank and about $28 million in uh Securities marketable Securities this year we'll be continuing with uh drill drilling from the tinck area and then uh waiting for the uh start of construction at Caribou uh we'll start with the Caribou Camp uh the Caribou Camp is located in central British Columbia about 400 kmet from here uh it's about an 8 hour drive up there as paveed Road into the site it consists of about 190,000 hectares of mineral rights that covers the entire Camp um it's produced about 4 half million ounces of gold has historically from underground and uh plaster workings in the area and we presently have about a 5.3 million ounce underground resource uh on about a 4 kilometer stretch of the trend there um we did go through a our our um the first the first one through the environmental assessment process the new one in British Columbia starting in 2020 we have the option to use the old and the new one we took the new one and it was pretty well on time this is as legislated timelines and we got through on this on schedule and received our permit on time in uh in October of last year uh we've started now the final permitting for the for the project and hope to have those by the end of Q2 or the beginning of Q3 the project uh taking a quick look at it it's about a mind life of 12 Years the initial mind life there it's in two phases our first production would start later this year and um and our initial cap capex is about $137 million with an expansion capital of $450 million in 2020 7 allowing us to recover about 1.9 million ounces of gold from 2 million ounces of of reserves out of the 5.3 million Total Resource there so our production starts out that averages about 164,000 ounces of gold a year uh including the those initial lower years then uh then Peaks up to about 194,000 ounces a year over 200,000 some years uh for the remainder uh the all sustaining cost including that first phase is just under 1,000 us and um and it'll be just under 900 with the uh secondary phase we're using about $1,700 gold and 1.25 U uh exchange rate on that and we still have a large amount of resources about 3.3 million ounces outside the reserves for further conversion the project uh uh bodess very well again originally when they're mining here they're mining sort of 15 to 14 to uh 18 gam per ton small individual veins we looked at this from a bulk mine underground so taking all the the lower grade Halo and the and the and the smaller veins around some of the old stopes and areas that were left behind and we're looking at a much higher grade considering this is an underground bulk mine so we're looking at stopes between 4 and 6,000 tons uh individually of stopes uh we got a 481 vein corridors in there to build stopes on and uh and the beauty of this thing is the grade still holds up very well that's the reserve grade there at 3.78 and it compares to other larger mines underground young Davidson and gold gold deex very well um the other thing important about this is that we've drilled it our average drill depth is only down about 350 M from surface and uh we have drilling down to 900 M but uh we not at resource category just to show that continuity and we're doing about 1.4 million ounces per 100 meters of of depth here on that 4.4 kilometer strike length and uh but we we feel that we can at least need double or triple that bringing it down to our down to our 900 meter level there this is hosted within uh the the the resource that we're talking about the reserves are hosted right up here we also have the 60 kilometer long Trend we have 10 other drill targets ready to go over hundreds of other targets to follow up on a new trend down here we've only drilled two one 4 kilm South of the the presentent reserve the project and one at 8 kilm with similar results so we're seeing a repetitive mineralization along this thing so there's a lot of potential at depth as well on strike here and for comparison to other camps we use the Valor camp where we have a history at malartic and um and compared to the Caribou Camp here the other project we have is in the in the brownfields another brownfields project it's in the tinck district of Central Utah this is located about 40 m south of the the large Bingham Canyon mine and it's an analog to Bingham Canyon the only difference is it's not eroded to that pfy level so this is a porree copper gold Target area with all the poly metallic mineralization around the borders as well as high high and intermediate sulfidation uh gold within that um just to remind people what we um the size of Bingham for for a comparative Bingham uh was 35 million tons of copper UH 60 million ounces of gold 2.5 million tons of Molly and about 8 7 to 800 million oun of silver plus lead and zinc so the prize is Big here and this is something why we've been working on we started targeting this in 2010 so this is sort of zooming out a bit looking at the at the whole district and who's who's playing there um on this side is Ivano electric they're also targeting the P free coer systems here um further south we have Freeport we're we're targeting this area in here so these were the the line you see the blue here these are the outline carbonate replacement they're typically on the on the borders and of of these pmal districts and uh this these were outcropping these were under volcanic cover so most of the the all the mineralization in the in the East tiic District was not outcropping we're presently drilling the bigger targets our this this is our we have uh room for three uh bigam stocks in here and there's grin structure in here we're presently drilling here a 1500 meter hole looking for the ca to py for this finalization as well as down here and we'll be doing further drilling down here so so our targeting is is is for bulk mine underground P fre pory copper gold systems as well as targeting some of the work we're doing now is also on on these gold systems over here we do have a a small resource there in the measured indicated geg with good grade and uh there was some mining going on there um when we when we took over the project and uh again it's some of the higher grades probably in the world there but small and uh there's a lot of upside on this project um our resource is basically just in this area in here and these are all the old stopes this was actually mined by kenicott for flux but grades were were going from 68 grams gold per time byproduct to 21 grams per gold in these areas so had a very high gold PR plus High silver 68 ounces of silver so again there's a lot of other potential there was five principal gold mines in the East tintic District as well as other base metal mines there's historic lead znc resources there and mines kott M both lead zinc here as well as flux for the Bingham smelter from here and paid for it with with the gold credits um so our share structure presently is about 85 million shares outstanding 115 fully diluted uh we as I mentioned earlier we have about into Q3 our last reporting we had about $70 million Canadian the bank about $28 million of Equitable of marketable equities and we have market cap above $300 million and as we go into production our vision is to move this this to initially with the beginning of caribou to 1 to 250,000 oun a year the expanding on caribou and Tink to the 350 to 500 and then of course having the option to look at the um diversifying into into copper uh lead and zinc in the in the tintic district and that's my [Music] presentation oh

Channel: VRIC Media

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Keywords: vric, vancouver resource investment conference, vric 2022, commodities investing, investing in commodities, vric 2023, commodities, vric 2024

Id: gQJisyn6Sf8

Length: 9min 0sec (540 seconds)

Published: Sat Feb 17 2024