Osisko Mining Corporation’s (TSX: OSK) acquisition this week of a 17% stake in Barkerville Gold Mines (TSXV: BGM) is part of a broader strategy of building direct and indirect interests in what it believes will be the next generation of long life Canadian gold mines.
“We’re trying to build the next intermediate mining company so our focus is on projects that we believe are mineable at today’s gold prices within the next five years and Barkerville fits that profile so we invested in it,” John Burzynski, Osisko Mining’s president and CEO tells The Northern Miner.
“There is real scarcity value to good deposits out there,” he says. “You can count on two hands, in our opinion, the ones that are mineable within the coming five years.”
Barkerville has consolidated 1,177 km2 of land across a belt that is 60 km long by 20 km wide in south-central British Columbia’s Cariboo gold district. Its priorities this year are to start small scale production on the property’s Bonanza Ledge and BC vein; expand the resource and initiate a feasibility study at its Cow Mountain deposit; and develop regional targets through greenfield exploration.
Read the entire story at www.NorthernMiner.com/news/osisko-mining