Franco-Nevada

Cariboo (Au)

LOCATION: British Columbia, Canada
OPERATOR: Osisko Development Corp.
ROYALTY: NSR: 3%

Osisko Development Corp. (“Osisko Development”) is advancing the Cariboo Gold Project in east-central British Columbia. In November 2019, Osisko Gold Royalties Ltd completed its acquisition of Barkerville Gold Mines Ltd and in November 2020 spun the asset out into the newly formed Osisko Development. The property consists of 2,120 km2 of mineral rights located 85 km east of the town of Quesnel. The area has historical underground and alluvial production of 4.5 million ounces of gold from 1933 to 1967. Osisko Development plans to start mining Bonanza Ledge II in early 2021 at a grade of approximately 5 g/t gold. Production is estimated at 62,000 ounces over 2 years and most significant permits are already in place. The Bonanza Ledge II Mineral Resource includes the BC Vein, Bonanza Ledge, and KL Zone deposits. Franco-Nevada’s 3% NSR covers the claims to the immediate north-east of Bonanza Ledge, referred to as the KL Zone. Franco-Nevada’s 3% royalty interest also includes the Williams Claims which are about 5 km south east of Bonanza Ledge. While mining Bonanza Ledge II, studies will continue to advance for the other deposits along the Cariboo trend with a feasibility study on track for H2 2021. An August 2019 PEA scoped the overall project at 4,000 tpd with approximately 200,000 ounces per year over 11 years.