Osisko Development Corp. has resumed planned site activities at its Cariboo Gold Project in central British Columbia. More than 250 personnel are now on site, operating at normal levels for the current phase of work, which includes pre‑construction, early works and ongoing exploration drilling.
The restart follows a temporary suspension that began after a fatal incident involving a contractor on the surface on January 22 2026. The company paused operations to conduct an investigation and to implement additional safety measures, and has coordinated the phased reopening with provincial regulators.
The Cariboo project is Osisko’s sole, fully‑owned asset and is the centerpiece of its strategy to become an intermediate gold producer. The company secured a US$450 million senior secured loan and had $401.4 million in cash as of Q3 2025, giving it the financial foundation to continue development toward a 2027 production target. The feasibility study projects 190,000 ounces of gold per year over a 10‑year mine life, with first gold expected in the second half of 2027.
Sean Roosen, Chairman and CEO, said the company is deeply saddened by the incident and is committed to the health, safety and wellbeing of all employees and contractors. He added that the company’s priority is to resume operations safely while maintaining the project’s schedule.
Since the incident, the company has completed 2.1 km of underground development, commissioned a water treatment plant, built a waste rock storage facility, and expanded the site camp to 266 rooms. These milestones position the project for the next construction phases and eventual production.
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