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B.C.’s next new gold mines could be in production as early 2022 and promise to breathe life back into B.C.’s historic Barkerville region. If it pans out, the play could be worth the annual total gross income of all mining in the province.
Osisko Gold Royalties Ltd. completed a reverse takeover earlier this month of shell company Barolo Ventures Corp. to form Osisko Development, which will assume the development of the Cariboo Gold project.
That’s the large gold district assembled by Barkerville Gold Mines (BGM), which Osisko Royalties acquired in November 2019.
The announcement of the new company came on the same day Osisko published drill results confirming high grades of gold for the Cariboo Gold project, which is not so much a single gold mine, but a district with multiple potential mines.
“The mineralized trend that we’ve mapped out is 83 kilometres long in two pieces that are parallel to each other,” Osisko Royalties CEO Sean Roosen told Business in Vancouver. The most recent drill results confirm high grades of gold in multiple zones, notably Cow Mountain.
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