Cariboo gold project

Cariboo is an advanced stage feasibility level gold project near the historic Wells and Barkerville mining towns in British Columbia, Canada. The project is currently planned as an underground mine utilizing long-hole stoping methods with longitudinal retreat and backfill over a 12-year mine life. The Feasibility Study (FS) envisages a phased development for the project. Phase 1 will have an initial capital outlay of C$137 million, with an average throughput of 1.5kt/d, and will produce an annual average of 73koz of gold over 3 years. Phase 2 will have an expansion capital outlay of C$451 million, with an average throughput of 4.9kt/d, and will produce an annual average of 194koz of gold over 9 years. As of the end of 2022, permitting of the project is ongoing with environmental permits expected to be received in Q1 2024. Cariboo is expected to begin production in 2024 with permitting throughout 2023, followed by construction.